Wits위츠

Wits swung to a small operating loss in the first half of 2026 after two profitable years, and the share price has fallen sharply over the past year.

Wits, a Korean maker of wireless charging modules and automotive power and camera components, reported trailing twelve-month revenue of ₩198B to H1 2026, but operating income was slightly negative at about -₩0.1B. Its balance sheet carries heavy debt, with borrowings of ₩16.4B against cash of ₩5.3B and liabilities at about 307% of equity, and free cash flow over the period was negative at about -₩23.9B.

What stands out

• Revenue rose sharply to ₩169B in 2025 from ₩91B in 2024, but operating margin fell from 2.4% to 1.5% and the trailing period shows an operating loss.
• Net income stayed positive over the trailing period at about ₩1.3B, which is small relative to the business and not matched by operating profit, so the filings would need checking for one-off items.
• The shares closed at ₩3,745, down 49% over one year, with a 52-week range of ₩3,050 to ₩9,290; the market cap is about ₩50B.
• The data shows a DCF-based fair value estimate of ₩374 with a bull case of ₩11,592, a very wide range that is a model output rather than an analyst view.
• Foreign ownership is small at 4.6% and 20-day net flows are mixed, with foreign and institutional investors net sellers and retail net buyers.
• Filings include a loan period extension, a guarantee of another party's debt, and a capital reduction decision, which relate to the debt position named above.

What to watch

• The Q3 2026 quarterly report and the next full-year results, to see whether operating income turns positive and how free cash flow develops.
• Details of the loan extension and the debt guarantee filings, including amounts and terms, which are not shown in the data.
• The data contains no recent news headlines and no analyst ratings or forecasts, so the outlook for the business is not clear from the information provided.