P&S Robotics피앤에스로보틱스

P&S Robotics swung to a large operating loss on the half-year figures, and its shares are down about 49% over the past year.

The company makes rehabilitation and medical robots, led by the Walkbot gait system. On trailing twelve-month figures to H1 2026 it reported revenue of ₩5.6B but an operating loss of ₩1.3B and negative free cash flow of ₩4.9B, despite a positive net income of ₩1.3B. Shares closed at ₩4,190, well below the 52-week high of ₩14,800.

What stands out

• Revenue rose to ₩7.6B in 2025 (up 7.5%), but operating income fell from ₩1.6B in 2024 to ₩1.0B, and trailing figures to H1 2026 show an operating loss.
• Trailing net income of ₩1.3B is well above the operating loss, so the profit line is not explained by core operations in the data provided; the reason is not stated.
• Cash of ₩3.4B and no reported borrowings, with liabilities at 5.4% of equity, though free cash flow was negative ₩4.9B on a trailing basis.
• The company's own discounted cash flow model gives a base value of ₩2,165 per share, about half the current price; this is a model output, not a forecast.
• Recent filings include several major sales or supply contracts in July 2026, an amended contract filing dated 21 October 2026, and a change of CEO in April 2026. News headlines in the data are empty.

What to watch

• The next full-year and quarterly results, to see whether operating losses narrow and whether free cash flow turns positive.
• The amended major supply contract filing from 21 October 2026, since the details of the amendment are not in the data provided.
• Foreign ownership has risen from 1.6% to 2.0% over 60 days while retail investors were net sellers over 20 days; the data does not explain these flows.