The Codi더코디

The Codi is loss-making at the operating level, carries heavy debt, and is pursuing several share-issuance and bond filings.

The Codi makes coils, transformers and inductors for home appliances and electric vehicles, with customers including LG Electronics and Hanwha Qcells. Its H1 2026 trailing operating income was negative at about -₩6.1B on ₩22.7B of revenue, while net income was positive at ₩27.1B, which the data does not explain. Borrowings of ₩58.4B sit against cash of ₩4.7B, and the share price has fallen 36.9% over the past month.

What stands out

• Trailing revenue to H1 2026 was ₩22.7B, below the ₩25.3B reported for 2025, and operating margin was -26.7%.
• Net income of ₩27.1B is well above operating income, so the profit appears to come from non-operating or discontinued items; the data does not break this down.
• Liabilities are about 14.8 times equity and free cash flow was -₩11.3B on a trailing basis.
• Recent filings are dominated by amendments to a rights offering, a convertible bond issue and shareholder meeting notices, plus the results of an extraordinary shareholders' meeting on 27 October 2026.
• The stock closed at ₩2,775, market cap about ₩14.3B, with a 52-week range of ₩2,400 to ₩12,750; foreign ownership is 0.4%.

What to watch

• Terms and final outcome of the rights offering and convertible bond filings, which could dilute existing shareholders.
• Whether the company can return to positive operating income and reduce its ₩58.4B of borrowings.
• Full-year 2026 results, which are not yet in the data; no news headlines were available.