Hizeaero하이즈항공

Hizeaero returned to a small operating profit in the first half of 2026 after several loss-making years, but its shares have fallen over the past year.

Hizeaero makes aircraft structural parts, mainly for Boeing programmes, and also supplies Korea Aerospace Industries and Korean Air. On trailing twelve-month figures to H1 2026 it reports revenue of ₩93.8B, operating income of ₩5.7B and net income of ₩3.9B, a clear turnaround from losses in 2021 to 2024. Free cash flow is negative at -₩3.4B and borrowings of ₩61.5B are large relative to cash of ₩9.1B.

What stands out

• Trailing revenue of ₩93.8B and an operating margin of 6% are a step up from the 2025 full-year operating margin of 5.4% and the losses seen in 2021 to 2024.
• The 2025 full year showed revenue down 2.2% and net income of ₩2.1B, so profit has been recovering but is still small.
• Liabilities are 125.9% of equity and borrowings are ₩61.5B against ₩9.1B of cash, while trailing free cash flow is negative.
• The shares closed at ₩1,981, down 12.7% over one year and 4.8% over one month, and trade well below the 52-week high of ₩3,500.
• Valuation metrics are a P/E of 9.5 and P/B of 0.6, below the listed peers shown, though the data gives no reason for the gap.
• Recent filings include a corporate value-up plan dated 26 October 2026, a half-year report and a lawsuit filed or ruled on in June 2026; the data does not say what the lawsuit concerns.

What to watch

• The corporate value-up plan filed on 26 October 2026, whose details are not in the data provided.
• Cash generation and debt levels, since free cash flow is negative and borrowings are large relative to cash.
• The outcome of the lawsuit filed or ruled in June 2026, and any further insider or 5%+ holding reports; no recent news headlines are included in the data.