Tongyang Pile동양파일

Tongyang Pile has returned to a small trailing operating profit but still posts a net loss, and its shares have swung sharply over the past year.

Tongyang Pile makes PHC concrete piles for construction, sold almost entirely in South Korea from three factories. On trailing twelve-month figures to H1 2026 it reported revenue of about ₩63.8B, an operating profit of about ₩2.9B and a net loss of about ₩2.9B, after heavy losses in 2024 and 2025. The shares closed at ₩2,795 on 2026-10-23, with a market capitalisation of about ₩55.9B.

What stands out

• Revenue fell in 2024 and 2025 but recovered on a trailing basis to about ₩63.8B, while operating income turned positive at about ₩2.9B (4.6% margin) after losses of about ₩4.7B in 2025.
• The trailing net loss of about ₩2.9B means the company is still unprofitable at the bottom line, with ROE at -2.4%.
• Balance sheet indicators look light: liabilities are 6.2% of equity, cash is about ₩9.3B and the data shows no borrowings.
• The share price is down 19% over one month but up 63.9% over one year, within a 52-week range of ₩1,550 to ₩7,300.
• The DCF fair value model gives a base of ₩1,290 against the current ₩2,795 price, with a bear case of ₩773 and a bull case of ₩2,321; the model is an internal estimate, not a forecast.

What to watch

• Two exchange inquiries about news reports or price moves were filed on 2026-07-01 and 2026-07-02; the data does not say what they concerned.
• Whether operating profit converts into positive net income in upcoming quarterly and annual filings.
• Foreign ownership fell from 2.8% to 1.1% over 60 days, and the data includes no news headlines to explain recent trading.