Shinwon Corp

Shinwon Corp's capital structure is characterized by a debt-to-equity ratio of 1.26, indicating a moderate reliance on debt financing. The company's liquidity position is assessed as medium, with a current ratio of 1.24 and negative net cash after subtracting total debt. The price-to-book ratio of 0.56 suggests the company is trading at a discount to its book value, while the price-to-tangible-book ratio is also 0.56, reflecting similar valuation dynamics. Profitability metrics show a challenging performance, with a return on equity of -1.14% and a return on assets of -0.41%. These figures are below the industry median for Apparel & Accessories, which typically sees positive returns. The company's operating margin is 1.54% (calculated from operating income of 16.85 billion KRW on revenue of 1.092 trillion KRW), which is significantly lower than the industry median of 6.2%. The company's revenue is split between two segments: Export Business and Fashion Business. The Export Business is the primary revenue driver, with the Fashion Business managing multiple brands. Geographically, the company's exposure is primarily to Korea, with no disclosed international revenue concentration. The lack of geographic diversification may pose a concentration risk, especially in a volatile consumer cyclicals sector. Growth trajectory is mixed. The company reported a net loss of 2.61 billion KRW in the latest period, and while revenue is 1.092 trillion KRW, the outlook for the current fiscal year is uncertain. The company's capital expenditure of -20.96 billion KRW indicates a significant investment in operations, but the negative free cash flow of -11.9 billion KRW suggests cash generation is under pressure. Risk factors include liquidity constraints and the potential for dilution, though the latter is currently assessed as low. The company's negative operating cash flow of -13.4 billion KRW and free cash flow of -11.9 billion KRW highlight the need for careful capital management. The risk assessment also flags the negative net cash position after subtracting total debt as a key concern. Recent events include the company's latest financial filing, which shows a net loss and negative cash flows. No recent earnings call transcripts or significant regulatory filings have been disclosed. The company's performance is closely tied to the global apparel market, which is subject to cyclical demand and supply chain disruptions.