DYD디와이디

DYD returned to a small TTM profit on higher revenue, but its share price is down over the past year and it still burns cash.

DYD, a Korean cosmetics brand owner (lilybyred, HATHERINE, Slow Humming), reported trailing-twelve-month revenue of about ₩54.7B and operating income of about ₩1.8B through H1 2026. Revenue has grown strongly since 2021, though the company posted large losses in 2021, 2023, 2024 and 2025. The share price closed at ₩1,158 on 2026-10-19, with a market cap of about ₩47.9B.

What stands out

• TTM operating margin is 3.4% and net margin is 1.1%, a clear swing from operating losses in 2023 to 2025.
• Free cash flow over the TTM period is about -₩8.4B, and cash is ₩1.3B against liabilities at 116% of equity.
• Price is down 15.5% over one year and sits well below its 52-week high of ₩2,295.
• Recent filings include a rights offering with several amendments, convertible bond and bond-with-warrant activity, and a half-year report for June 2026.
• Valuation is high on trailing earnings at a P/E of about 82, while P/B is 2.7; the company pays no dividend.
• A Shanghai second flagship store for Lilybyred was reported on 2026-10-16.

What to watch

• Whether the rights offering, convertible bond and warrant activity dilute existing shareholders, given the 2026 filings.
• Whether free cash flow turns positive as the profit recovery continues.
• Next periodic results and any new filings on overseas expansion, including the Shanghai store and the diabetes diagnostic kit, which the data does not show progress on.