Tonymoly토니모리

Tonymoly returned to a small profit on higher revenue in the first half of 2026, but its shares have fallen sharply over the past year.

Tonymoly is a Korean cosmetics maker that sells mainly under its TONYMOLY brand through offline stores, distributors, duty-free shops and online, and exports abroad. On a trailing twelve-month basis to H1 2026 it reported revenue of about ₩214.8B, operating income of ₩11.6B and net income of ₩11.3B, with the share price at ₩4,515, down 51.3% over one year. The data does not include any analyst ratings or price targets.

What stands out

• Trailing revenue of ₩214.8B is below full-year 2025 revenue of ₩220.3B, while 2025 operating margin was 6.5% against a trailing 5.4%.
• 2025 net income of ₩11.1B was well below 2024's ₩16.4B, even though operating income in 2025 was higher than in 2024 (₩14.4B vs ₩12.1B).
• Borrowings of ₩59.6B exceed cash of ₩10.8B, and liabilities are 82.6% of equity.
• Trailing free cash flow was ₩8.8B and the dividend yield is 1.1%.
• Foreign ownership fell from 2.4% to 2.1% over about 60 days, and the 20-day flows show net selling by retail investors (₩-83.3B) and foreign investors (₩-5.9B), with institutions net buying ₩91.4B.
• September 2026 filings report a change of largest shareholder and related holding changes; the headlines list is empty, so no news context is available.

What to watch

• Full-year 2026 results and any further filings on the change of largest shareholder and its effect on governance and holdings.
• Whether operating margin holds near the trailing 5.4% level, given the drop in net income versus 2024 and 2025.
• Debt levels relative to cash, as borrowings are much larger than cash on hand.