Kumyang Green Power금양그린파워

Kumyang Green Power is back to a thin trailing profit margin after a 2024 loss, while its share price has fallen sharply over the past year.

The Korean electrical engineering contractor, now also developing renewable energy projects, reported trailing revenue of about ₩318.6B to H1 2026 with a small operating profit of ₩2.5B but a net loss of about ₩0.9B. Its shares closed at ₩7,010, down 41% over one year and well below the 52-week high of ₩20,200, and the data gives a DCF base value of ₩1,096 per share.

What stands out

• Trailing operating margin is 0.8% and net margin is -0.3%, compared with a 2025 operating margin of 0.2% and a 2024 operating loss of ₩17.1B.
• Borrowings of ₩28.0B exceed cash of ₩24.6B, and liabilities are 73.5% of equity.
• Trailing free cash flow is ₩4.3B, which is positive despite the net loss.
• Price-to-book is 0.8 and there is no dividend; trailing P/E is not meaningful because earnings are negative.
• Recent filings are mostly amended major sales or supply contracts, plus several 5%+ holding reports and a change of largest shareholder; the news list in the data is empty, so no press coverage is included.

What to watch

• The full-year 2026 results and the next periodic filings, to see whether the thin operating profit holds.
• Further amended supply contract filings and any change in the largest shareholder, which the data shows recently.
• The gap between the DCF base value and the share price, which the data does not explain; the bear case in the data is ₩0 and the bull case is ₩12,304.