Wonik PNE원익피앤이

Wonik PNE is loss-making on a trailing basis after a profitable 2025, and its shares have fallen sharply over the past year.

Wonik PNE makes battery production equipment, power supplies and EV chargers, selling to large domestic and overseas buyers. For the twelve months to H1 2026 it reported revenue of ₩239.7B, an operating loss of ₩12.9B and a net loss of ₩9.9B, with free cash flow of -₩10.8B. The stock closed at ₩2,105 on 28 October 2026, down 53.1% over one year, with a market capitalisation of about ₩99.9B.

What stands out

• Trailing revenue of ₩239.7B is below the ₩390.7B reported for full-year 2025, and the trailing operating margin is -5.4%.
• Full-year 2025 was a small profit (operating income ₩1.4B, net income ₩1.0B) after a large 2024 loss of ₩63.7B net.
• Borrowings of ₩109.7B against cash of ₩13.2B, with liabilities at 259.5% of equity, indicate a heavily leveraged balance sheet.
• Price-to-book is about 1.0 and price-to-sales about 0.4, but earnings-based valuation ratios are not meaningful given the losses.
• Foreign ownership is 3%, unchanged over 60 days, and the short balance is 0.5%. The last 20 days of investor flows show net buying by foreigners and net selling by retail investors.
• No news headlines were included in the data, and no dividend is paid.

What to watch

• The full-year 2026 results and the next quarterly report, to see whether losses narrow from the trailing figures.
• Cash generation and debt levels, given negative free cash flow and borrowings well above cash.
• Any new filings on insider holdings or large business group status, which appear regularly in the recent filing list.