Gridwiz그리드위즈

Gridwiz is loss-making on an operating basis over the last twelve months, with its shares down sharply over the past year.

Gridwiz runs an energy platform covering demand response, EV charging, energy storage and solar power in South Korea. On trailing twelve-month figures to H1 2026 it reported revenue of about ₩118.8B, a small operating loss of about ₩1.1B and a small net profit of about ₩1.2B, while the share price is near its 52-week low after falling 40.9% over the year. The data does not explain the drivers of the recent share price decline.

What stands out

• Revenue has been broadly flat, with 2025 at about ₩125.6B (up 0.7%) after roughly ₩124.7B in 2024.
• Operating margin improved from -3.5% in 2024 to 0.6% in 2025, but is -0.9% on the trailing twelve months to H1 2026.
• Net income is positive on a trailing basis, yet the data shows operating income negative, so the profit may rest on non-operating items the data does not detail.
• Cash of about ₩53.5B exceeds borrowings of about ₩30B, and the liabilities-to-equity ratio is 44.7%.
• Filings in August and September 2026 include two convertible bond issues and several 5%+ holding reports; the data does not give the terms or the purpose of the bond issues.

What to watch

• The next results and the full-year 2026 figures, to see whether operating profit turns sustainably positive.
• Terms and dilution effects of the convertible bonds issued in 2026, which the data does not describe.
• Valuation looks high on earnings (trailing P/E about 72x) and the DCF fair value in the data is far below the current price, so the gap is worth examining; no news headlines were available to explain recent moves.