TS TrillionTS트릴리온

TS Trillion's stock has surged this year on an AI data center plan, while its profits remain thin and volatile.

TS Trillion, a Kosdaq-listed maker of hair-loss shampoos sold mainly in Korea, reported trailing revenue of about ₩31.3B and a small operating profit of ₩1.7B for the year to H1 2026, with net income of only ₩78M. The shares closed at ₩1,164 on 19 October 2026, up 45% over three months, after the company announced a joint development of a ₩2.3T AI data center in Cheonan; the data does not show how that project is funded or what it would contribute to earnings.

What stands out

• Trailing profitability is very thin: a 5.4% operating margin but only a 0.2% net margin, and ROE of 0.3%.
• The company made losses in 2021, 2022, 2023 and 2024, and 2025 revenue fell 15.4% to about ₩26.0B, with a near-zero operating profit.
• Trailing cash of about ₩5.9B exceeds borrowings of ₩1.3B, and liabilities are 97.9% of equity.
• At ₩1,164 the market value is about ₩34.0B, a trailing P/E of 437 and a P/B of 1.0, with no dividend.
• Headlines since 14 October cover a 1-for-5 reverse stock split and a shareholders' meeting, and the filings include a conversion price adjustment on a 4th series of convertible securities.
• Foreign ownership is 0%, and over the last 20 days retail investors were net buyers while foreign investors were net sellers.

What to watch

• The outcome of the shareholders' meeting and the effect of the 1-for-5 reverse stock split, which changes the share count and price per share.
• Funding details and timing for the Cheonan AI data center, which the provided data does not describe.
• The next results release, since the trailing figures are the only profit data given and recent years have been loss-making.