Shindo Eng. Lab신도기연

Shindo Eng. Lab is back to large operating losses over the trailing twelve months after a profitable 2025, though it holds net cash.

The company makes display production equipment such as laminators and vacuum press machines, mostly sold abroad to display panel makers. Its trailing twelve-month revenue is ₩39.5B, but operating income is -₩5.3B and free cash flow is -₩8.4B, so the business is currently loss-making. Its share price is ₩1,502, with a market value of about ₩23.6B and cash of ₩27.2B shown in the data.

What stands out

• Revenue is lumpy: 2025 revenue was ₩31.9B after a 201% jump, following sharp declines in 2022 and 2024.
• The trailing twelve months show an operating margin of -13.4% and a net margin of -2.8%, while 2025 was a small profit with a 5.7% operating margin.
• Cash of ₩27.2B is listed with no borrowings, and liabilities are 7.4% of equity, so the balance sheet looks lightly indebted in the data.
• Recent filings include several major sales or supply contracts, from August and September 2026, but the data does not give their values or customers.
• Foreign ownership fell from 1.2% to 0.9% over 60 days, and the 1-month share price return is -6.4%.
• No news headlines were provided, so there is no press coverage in the data to add context.

What to watch

• The next quarterly and half-year results, to see whether operating losses continue after the 2025 profit.
• Details of the recent supply contracts, including their size and timing, which the data does not provide.
• Free cash flow of -₩8.4B and whether cash of ₩27.2B is used up while the company is loss-making.