Doosan Bobcat두산밥캣

Doosan Bobcat's shares have fallen sharply over the past year, while reported profit has held up at a modest margin.

Doosan Bobcat is a construction equipment and hydraulics maker with a global dealer network. In the trailing twelve months to H1 2026 it reported revenue of ₩6.3T, operating income of ₩535B and net income of ₩341B, with a net margin of 5.4%. The share price is ₩48,550, down 22.1% over one year and near its 52-week low of ₩48,200.

What stands out

• Revenue fell 1.4% in 2025 to ₩6.2T, after a 16.1% drop in 2024, and operating margin slipped from 10.2% to 7.8% over the same period.
• Trailing operating margin is 8.5% and ROE is 7%, against 5.8% for 2025 as a full year.
• Free cash flow was ₩478B on the trailing basis, and cash of ₩1.3T exceeds borrowings of ₩836B.
• The filed fair value model gives a base of ₩72, a bear of ₩44 and a bull of ₩119 at a 7.4% discount rate; these are model outputs, not forecasts.
• Recent news focused on a Red Dot design award for its LoaderX3 concept and on a housing-segment slowdown noted in a broker note, with the target price cut to ₩79,000 per that note.

What to watch

• The full-year 2026 results, following the advance earnings notice filed on 19 October 2026; the notice's figures are not included in this data.
• Foreign investors sold ₩8.8T net over the last 20 days, and foreign ownership eased from 39.2% to 38.8%, so further flows are worth monitoring.
• Housing-market demand and data-center-related sales momentum, both named in recent news, and the stock's proximity to its 52-week low.