CyberOne싸이버원

CyberOne's H1 2026 trailing results show thin profitability and a net loss, while the shares have fallen sharply over the past year.

CyberOne, a Korean information security company, reported trailing revenue of ₩35.2B and a small operating profit of ₩1.4B to H1 2026, but a net loss of ₩0.3B. The shares closed at ₩2,370 on 2026-10-20, down 37.7% over one year, though up 11.3% over three months. Cash of ₩17.0B is well above the company's reported borrowings, which are shown as none.

What stands out

• Revenue fell 29.5% in 2025 to ₩33.7B, after a large jump of 93.9% in 2024 to ₩47.9B, so the trend is uneven.
• Operating margin dropped from 23.7% in 2024 to 1.2% in 2025 and sits at 3.9% on a trailing basis to H1 2026.
• The company posted net losses in 2025 (₩1.2B) and in the trailing period, after a strong 2024 net profit of ₩9.8B.
• The price is well below the 52-week high of ₩5,420, and the data gives a DCF fair value range of ₩2,480 to ₩6,726 with a base of ₩4,029; this is a model output, not a forecast.
• Filings include a value-up plan (April 2026), a cash dividend decision later amended, and two amended major sales or supply contract filings. Foreign ownership rose from 5.5% to 6.7% over the last 60 days.

What to watch

• The Q3 2026 quarterly report and whether margins recover from the thin trailing level.
• Further amendments to the major sales or supply contracts, and whether revenue stabilises after the 2025 decline.
• Whether the net loss continues and whether the dividend (yield 1.5%) is maintained; the news list was empty, so no recent press coverage is included in the data.