OA오아

OA's shares have fallen sharply over the past year, while its latest reported figures show a small operating profit but a net loss and negative free cash flow.

OA is a Korean consumer goods company selling small home appliances and health foods, listed on KOSDAQ since September 2025. On trailing figures to H1 2026 it had revenue of about ₩106.8B, an operating income of ₩4.1B, a net loss of ₩6.9B and negative free cash flow of ₩31.0B. The shares closed at ₩3,560, down 66.2% over one year and well below the 52-week high of ₩10,670.

What stands out

• Trailing operating margin is 3.8%, down from 7.9% for full-year 2025, while the company still reports a net loss.
• Free cash flow is negative ₩31.0B against cash of ₩3.8B and borrowings of ₩43.0B, and liabilities are 105.9% of equity.
• Price-to-book is 0.4 and price-to-sales is 0.2, but the company has no reported P/E or EV/EBITDA because earnings are negative.
• The internal DCF model gives a base value of ₩16,575, far above the current price, but the bear case is ₩2,914 and the range is very wide; this is a model output, not a forecast.
• Foreign ownership fell from 1.3% to 0.9% over 60 days, and 20-day flows show retail and institutional net selling with a small foreign net buy.

What to watch

• The shareholders' meeting and record date notices filed in October 2026, plus any agenda items related to the earlier company split decision.
• Full-year 2026 results and whether the company returns to net profit and positive free cash flow given its borrowings.
• No news headlines were provided in the data, so recent news coverage cannot be assessed.