Foodnamoo푸드나무

Foodnamoo's revenue has shrunk for three straight years and it is still loss-making at the operating level, though its shares have risen sharply over the past year.

Foodnamoo sells diet and convenience health foods mainly through its own e-commerce platform, with some outsourced manufacturing under its own brands. On the latest trailing twelve months to H1 2026, revenue was ₩66.9B, with an operating loss of ₩14.4B and a net loss of ₩3.8B. The share price closed at ₩3,100 on 16 October 2026, up 52.7% over one year, but still well below its 52-week high of ₩3,980.

What stands out

• Revenue fell 30.1% in 2025 to ₩86.8B, after falling 34.9% in 2024 and 12.2% in 2023, so the top line has contracted for three years.
• Operating margin was -21.4% on a trailing basis, and free cash flow was about -₩17.8B, while cash was only ₩5.1B against ₩21.4B of borrowings.
• 2025 was profitable at the net level (₩2.0B net income) but still had an operating loss of ₩8.2B, so the net profit was not driven by core operations, and the data does not explain the gap.
• Liabilities are about 204% of equity and the company pays no dividend; the data does not include a fair value estimate or analyst views.
• Recent filings include several rights offering (paid-in capital increase) amendments and shareholder change reports, and the largest shareholder changed in September 2026. Foreign ownership fell from 0.5% to 0.4% over the last 60 days.

What to watch

• The next half-year or annual results, to see whether revenue stabilises and whether the operating loss narrows from the trailing figure.
• Completion and final terms of the rights offering, since new shares could dilute existing holders and the funding need is tied to the cash position.
• Follow-up on the change of largest shareholder and the independent director changes filed in October 2026, which may affect governance direction.