Xi S&D자이에스앤디

Xi S&D's trailing six-month profit has recovered sharply from 2024, but the share price has fallen 18.6% over the past month.

Xi S&D is a Korean construction and home solutions group, with construction for industrial clients, housing development and home services. On trailing twelve months to H1 2026 it reported revenue of ₩1.31T, operating income of ₩46.2B and net income of ₩44.9B, against a much weaker 2024. The shares closed at ₩7,960 on 2026-10-23, with a market value of about ₩308.7B.

What stands out

• Trailing revenue of ₩1.31T is below 2025's ₩1.39T, but operating margin of 3.5% is well above the 0.9% reported for 2025 and 0.2% for 2024.
• Net income of ₩44.9B in the trailing period compares with ₩1.7B in 2024, though 2025 net income of ₩35.6B was far above its operating income, so the profit mix is worth checking in the filings.
• On the data given, the stock trades at about 6.9 times trailing earnings and 0.5 times book value, while the 1-year return is +153.5%.
• The DCF-based fair value model gives a base of ₩14,160, a bear case of ₩6,037 and a bull case of ₩28,848; these are model outputs, not forecasts.
• Cash of ₩256.7B exceeds borrowings of ₩112.9B, and trailing free cash flow is ₩130.6B; liabilities are 80% of equity.
• Recent headlines include a ₩95.3B redevelopment project win and a construction and residential award, and a notice of preliminary earnings was filed on 2026-10-23.

What to watch

• The full earnings results that the 2026-10-23 advance notice points to, including whether the improved margin holds.
• The 'major management matter' filings from September and October 2026, whose content is not in the data provided.
• Retail investors have been net sellers over the last 20 days (about ₩8.3B), while foreign ownership rose from 4.0% to 7.6%; the reasons are not in the data.