Toebox Korea토박스코리아

Toebox Korea's trailing profit is near break-even on falling sales, and its shares are down over the past year.

Toebox Korea sells premium children's shoes and apparel in South Korea and distributes around 30 premium kids' brands. Trailing revenue to H1 2026 is about ₩40.9B with operating income of ₩1.4B and net income of only ₩28M. Revenue has fallen in 2024 and 2025, and the 2025 filings show a net loss of ₩1.2B.

What stands out

• Revenue has declined two years running, down 8.2% in 2024 and 11.1% in 2025, after a sharp rise in 2022.
• Trailing operating margin is 3.4%, but net margin is only 0.1%, so little profit reaches shareholders.
• Borrowings of ₩4.0B exceed cash of ₩0.88B, while liabilities to equity is 23.6%.
• The shares closed at ₩1,907, near the lower part of the 52-week range of ₩1,500 to ₩2,455, and are down 15.6% over one year.
• Foreign ownership fell from 14.5% to 12.1% over the last 60 days, and foreign investors were net sellers over the past 20 days.

What to watch

• The corporate value-up plan and the CEO change disclosed in August and September 2026, and any follow-up detail in filings.
• Several lawsuit filings in August 2026; the data does not say what they concern or their likely impact.
• The DCF fair value model gives a base of ₩2,087 against a close of ₩1,907; treat this as a model output, not a forecast, since the model inputs are uncertain.