Dongkuk Coated Metal동국씨엠

Dongkuk Coated Metal is loss-making on a trailing basis but trades near book value, with heavy debt and a recent value-up plan filed.

The company, a color-coated steel maker listed in June 2023, reported trailing twelve-month revenue of about ₩2.79T but a small net loss of ₩7.8B through H1 2026, after a loss of ₩52.9B in 2025. Shares closed at ₩4,850 on 26 October 2026, down 11.3% over one year and near the lower end of their 52-week range, with a price-to-book ratio of about 0.1. Borrowings of ₩1.08T against cash of ₩152B leave liabilities at 166% of equity.

What stands out

• Trailing operating margin is about 0.2% and net margin is negative, versus a 3.6% operating margin in 2024 when net income was ₩63.8B.
• Trailing free cash flow is positive at about ₩200B, though the data does not explain how it was generated.
• Dividend yield is shown at 6.2%, but the data does not include a payout history or confirm its sustainability given the losses.
• Recent filings include a corporate value-up plan (21 October) and two debt guarantee decisions for third parties (8 and 28 September, plus a June decision), which add to the debt-related obligations.
• Trading flows over 20 days show institutions and foreigners net buyers and retail net sellers; foreign ownership edged up to 21.8%.

What to watch

• Details of the corporate value-up plan and whether it addresses profitability or debt levels, which the data does not describe.
• Full-year 2026 results and any further third-party debt guarantees, given borrowings of about ₩1.08T.
• Steel and color-coated sheet demand from home appliance and construction customers, which the data does not quantify.