Hyundai Everdigm (041440) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Hyundai Everdigm makes machinery and equipment for construction and industrial sites, split across special-purpose vehicles such as concrete pump trucks and fire engines (the vehicle segment), excavator attachments and drilling equipment (the hydraulic-machinery segment), and heavy equipment; the vehicle segment, at ₩137.2 billion in revenue, is the largest share. In August 2025 it signed a supply contract worth ₩135.3 billion (38.1% of recent annual revenue), and its first-quarter results, disclosed in May 2026, were revenue of ₩82.0 billion (up 32% year over year), operating profit of ₩0.6 billion, and net profit of ₩1.4 billion. The notable point right now is that with the share price at 0.57x book value and a first-quarter top-line recovery of 32% backed by a large supply contract, those are strengths; but the operating margin at 1.9% is thin and interest coverage is below 1x, so whether the revenue recovery extends to margin improvement is the fork in the road.
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30-second brief
Pulled directly from the computed values below — not a separately written opinion.
What do the SourceComputedEstimateReading tags mean?
Source filings and exchange data · Computed calculated from public data · Estimate our own unverified projection · Reading drafted automatically, then rule-checked. See AI & Automation.
Core valuation metric
This stock's effective sub-sector is “Machinery” (Shipbuilding, Machinery, Defense & Power Equipment), a type typically read first through P/E.
Machinery makers see orders and results ebb and flow with the capital-investment cycle, yet most run a business that earns money year after year. That is why price-to-earnings (P/E) — the share price measured against actual net profit — is the natural first lens here.
Price against earnings alone becomes unstable when earnings swing. Reading it together with price against assets helps gauge the downside.
This note explains how each sector is typically valued and is educational context only, not investment advice.
At-a-glance assessment financial health · growth · profitability · valuation
- Operating profit barely covers the interest bill (interest coverage below 1x).
- Revenue fell 18.4% year over year (3-year trend: falling).
- Most recent quarter (Q1 2026) revenue was 32.1% higher than a year earlier.
- ROE is 2.4% (controlling-interest basis). It is above the sector average.
- Operating margin is 1.9%.
- The P/E sits above the sector median, reflecting elevated expectations.
Ownership & governance As of 2025-12-31
Largest shareholder Hyundai GF Holdings 45.17% (corporate)
Controlling bloc incl. related parties 46.09%
With the controlling bloc holding 46%, the ownership structure is stable.
🔎 In-depth analysis Reading
Hyundai Everdigm directly makes and sells machinery and equipment used on construction and industrial sites. The business splits broadly into three. First, the vehicle segment makes and sells concrete pump trucks (special-purpose vehicles that pump concrete up onto construction sites) and fire engines. Second, the hydraulic-machinery segment makes attachments fitted to the end of excavators (add-on equipment such as breakers) and drilling equipment. Third, there is the heavy-equipment segment. On a prior cumulative basis, the vehicle segment's revenue of ₩137.2 billion is the largest share, showing that special-purpose vehicles are the company's central business. With a market capitalization of ₩108.7 billion, which is not large, a single big supply contract tends to have a relatively large effect on revenue and results.
The latest close is ₩6,480 and the market capitalization is ₩115.6 billion. The price sits above its 20-day moving average (₩6,123) and below its 60-day moving average (₩7,191). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 52.0, a neutral level. The one-month change is -5.8%, the three-month change is -28.8%, and the position relative to the 52-week high is -37.9%. Relative strength versus the KOSDAQ is 53 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 53% of all stocks. Over the past three months it lagged the index by 7.1%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Recent annual (2025) revenue was ₩289.6 billion, with operating profit of ₩5.4 billion and net profit of ₩4.6 billion. The operating margin was 1.9% and ROE (how much is earned in a year on shareholders' equity) was 2.4%, so profitability is not yet thick. The debt ratio (debt relative to shareholders' equity) is 153.9% and interest coverage (how many times operating profit can cover interest) is below 1x, so this is a phase where earnings power needs to firm up further. Meanwhile the P/E (how many times a year's earnings the share price is) looks high at 24.40x, but that figure comes from 2025 earnings being pressed down to a trough, shrinking the denominator, so it is hard to call it expensive on that alone. On an asset basis, the P/B (how many times book value the share price is) is 0.60x, meaning the share price trades at about half the company's net assets. In other words, it looks high on earnings but cheap on assets — a position where the assessment could shift quickly if earnings recover.
Over several years, revenue fell from ₩358.1 billion in 2023 to ₩289.6 billion in 2025, and operating profit came down from ₩12.0 billion in 2023 to ₩5.4 billion in 2025, so the recent years saw top line and profit slow together. That said, the most recent quarter — Q1 2026 — posted revenue of ₩82.0 billion, up 32.1% year over year, a signal that the declining top line is turning back up. Revenue for 2026 is seen at around ₩357.4 billion, above 2025's ₩289.6 billion. This is because the revenue recovery confirmed in the first quarter and the recognition of the ₩135.3 billion supply contract signed in August 2025 (equivalent to 38% of annual revenue) become the engines lifting the top line. In other words, the revenue recovery has real underpinnings in quarterly results and an order disclosure. However, since profit is at an early stage of recovery, operating profit may not grow as fast as the top line, so whether the revenue increase carries through to margin improvement is the next point to confirm.
On August 28, 2025 it disclosed a single-sale/supply contract. The contract value of ₩135.3 billion, equal to 38.1% of recent annual revenue, is a large scale, and the contract value and delivery period are central to future revenue recognition. Whether the deal is one-off or repeatable divides the medium-term reading. Then, through a preliminary results-announcement notice on May 4, 2026 and preliminary results (fair disclosure) on May 6, it reported Q1 2026 revenue of ₩82.0 billion, operating profit of ₩0.6 billion, and net profit of ₩1.4 billion. Given that this quarter's revenue rose 32% year over year, it is worth confirming, alongside the quarterly results, whether the supply contract is feeding through into an actual top-line recovery.
This company has two strengths. First, the share price stays at 0.57x book value, clearly an undervalued zone on an asset basis. Second, the declining top line turned back up with a first-quarter 2026 recovery of 32%, and a large supply contract sits behind it, so the basis for the top-line recovery is backed by actual disclosures. On the cautionary side, the operating margin at 1.9% is still thin and interest coverage is below 1x, so earnings power needs to become sturdier. In short, in a phase where the revenue recovery carries through to margin improvement, the undervaluation on an asset basis stands out and reads strongly; conversely, if the top line grows but profitability does not follow, the pace of recovery could slow.
🔎 Valuation vs peers Overvalued
A peer set of similarly sized companies by market capitalization within machinery and equipment.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| CNG Hitech | 6.49x | 0.91x | 11.55% |
| HB Solution | 4.90x | 0.50x | 14.35% |
| Hana Technology | — | 1.10x | -5.78% |
We looked first at a public-data peer set of similar market capitalization within machinery and equipment. The current P/E (how many times a year's earnings the share price is) is 24.90x and the P/B (how many times book value the share price is) is 0.60x. That said, for smaller-cap stocks, earnings swings and financing disclosures carry a large effect, so we did not draw firm conclusions from last year's confirmed-results metrics alone. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩357.4 billion | ₩1.9 billion | — |
| Next quarter | Q2 2026 | ₩90.1 billion | ₩1.0 billion | — |
Price history Close · MA20 · MA60
The latest close is ₩6,480 and the market capitalization is ₩115.6 billion. The price sits above its 20-day moving average (₩6,123) and below its 60-day moving average (₩7,191). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 52.0, a neutral level. The one-month change is -5.8%, the three-month change is -28.8%, and the position relative to the 52-week high is -37.9%. Relative strength versus the KOSDAQ is 53 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 53% of all stocks. Over the past three months it lagged the index by 7.1%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M -7.06% / 6M +8.54% / 12M -18.90%
Key metrics Computed vs sector median
Valuation
The P/E of 24.90x is above the sector median (14.07x). The P/B of 0.60x is below the sector median (1.01x).
Enterprise value (EV)
EV = market cap + net debt. It reflects cash and debt, so it captures the real cost of the whole business that market cap alone misses; lower multiples are cheaper relative to earnings or sales.
Intrinsic value (DCF estimate) Estimate
Model output — not a price target. This is what the formula returns under the assumptions below, not a view on where the share price should go.
DCF (discounted cash flow) estimate — discount rate 10.1%, initial growth 4.0%→terminal 2.0%, 10-yr forecast, earnings-based. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 2.4%, above the sector average (2.0%). The operating margin is 1.9%. The debt ratio is 74.9%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $251.5M | $249.5M | $203.4M | -18.45% ↓ slower |
| Operating profit | $8.4M | $7.0M | $3.8M | -45.65% ↓ slower |
| Net profit | $4.5M | $4.6M | $3.3M | -29.45% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $223.3M | $263.0M | $251.5M | $249.5M | $203.4M |
| Operating profit | -$67,150 | $11.0M | $8.4M | $7.0M | $3.8M |
| Net profit | -$12.9M | $7.5M | $4.5M | $4.6M | $3.3M |
| Revenue CAGR | 4-yr avg -2.30% | ||||
Revenue fell 18.4% year over year (2023 ₩358.1 billion → 2024 ₩355.1 billion → 2025 ₩289.6 billion), and the three-year trend is 'falling'. The rate of decline widened from the prior year. Operating profit fell 45.6% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is -2.3%. The two-year revenue CAGR is -10.1%. In the most recent quarter (Q1 2026), revenue was 32.1% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- —
Points to watch
- Revenue fell 18.4% year over year (3-year trend: falling).
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2025-08-28ContractSingle-sale/supply contract signed: contract value ₩135.3 billion, 38.1% of recent revenueThe contract value and term are central to future revenue recognition. Whether the deal is one-off or repeatable divides the medium-term reading. Source
- 2026-05-06EarningsOperating (preliminary) results on a consolidated basis (fair disclosure): Q1 2026 revenue ₩82.0 billion, operating profit ₩0.6 billion, net profit ₩1.4 billionThis is recently confirmed or preliminary results data. Check whether it points the same direction as the annual trend and whether one-off factors are present. Source
- 2026-05-04EarningsPreliminary results-announcement notice: Q1 2026 revenue ₩82.0 billion, operating profit ₩0.6 billion, net profit ₩1.4 billionThis is recently confirmed or preliminary results data. Check whether it points the same direction as the annual trend and whether one-off factors are present. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩6,480 | ₩6,480 | Confirmed | link |
| Latest quarterly results | revenue ₩82.0 billion, operating profit ₩0.6 billion | revenue ₩82.0 billion, operating profit ₩0.6 billion | Confirmed | link |
| Annual results | revenue ₩289.6 billion, operating profit ₩5.4 billion | revenue ₩289.6 billion, operating profit ₩5.4 billion | Confirmed | link |
| Contract disclosure source text | single supply contract signed: contract value ₩135.3 billion · vs recent revenue 38.1% | single supply contract signed: contract value ₩135.3 billion · vs recent revenue 38.1% | Confirmed | link |
| Results disclosure source text | 2026 1 revenue ₩82.0 billion · operating profit ₩0.6 billion · net profit ₩1.4 billion | 2026 1 revenue ₩82.0 billion · operating profit ₩0.6 billion · net profit ₩1.4 billion | Confirmed | link |
| Results disclosure source text | 2026 1 revenue ₩82.0 billion · operating profit ₩0.6 billion · net profit ₩1.4 billion | 2026 1 revenue ₩82.0 billion · operating profit ₩0.6 billion · net profit ₩1.4 billion | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-06-08PeriodicAnnual business report (amended)
- 2026-05-29Large-business-group status disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-05-06EarningsFair-disclosure notice
- 2026-05-04Disclosure
- 2026-05-04EarningsEarnings disclosure
- 2026-04-17DividendCash/stock dividend decision (amended)
- 2026-04-01Dividend disclosure
- 2026-03-23Shareholders' meeting notice
- 2026-03-13PeriodicAnnual business report
- 2026-03-13Audit report
- 2026-02-27Large-business-group status disclosure
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.