BMT is a machinery and equipment parts company that makes fittings, valves and tubes to connect and shut off the flow of gas and liquid without leaks, supplying precision parts for ultra-high-pressure and ultra-low-temperature equipment in semiconductors, petrochemicals, power generation, hydrogen and LNG under its own brand 'Superlok'. Last year profit returned to a normal track, producing an ROE of 12.7% and a net margin of 12.9%, and preliminary first-quarter results were revenue of ₩35.6 billion and operating profit of ₩1.8 billion, but operating profit fell versus a year earlier, so the earnings flow took a pause. The point to watch is that when downstream capital-investment demand revives and supply contracts recur, the undervaluation of a P/E of 7.72x, a P/B of 0.98x, a low forward P/E and a dividend yield of about 4.1% comes into the light; but if the quarterly earnings slowdown drags on, or revenue leans on one-off contracts and the 175.8% debt ratio comes into focus, the pace of recovery can be delayed.
At-a-glance assessment financial health · growth · profitability · valuation
- Revenue rose 10.7% year over year, and the pace is quickening (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 2.8% lower than a year earlier.
- ROE is 12.7% (controlling-interest basis). It is above the sector average.
- Operating margin is 10.4%.
- The P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Yoon Jong-chan 36.52% (individual)
Controlling bloc incl. related parties 55.56%
With the controlling bloc holding 56%, control is very secure but the free float is thin.
🔎 In-depth analysis
- BMT is a parts company in the machinery and equipment sector that makes fittings (pipe joints), valves and tubes to connect and shut off the flow of gas and liquid without leaks.
- Under its own brand 'Superlok', it supplies precision parts, at home and abroad, that go into ultra-high-pressure and ultra-low-temperature equipment in semiconductors, petrochemicals, power generation, hydrogen and LNG.
- Because demand for its parts grows in step with rising capital investment or the growth of new industries (hydrogen, semiconductors and the like), which downstream industry is spending sets the direction of revenue.
- The latest close is ₩14,580 and the market cap is ₩144.7 billion.
- The price sits below the 20-day line (₩15,988) and below the 60-day line (₩15,860).
- Trading below both the short- and mid-term moving averages, the trend is on the depressed side.
- RSI (a supporting gauge that measures upward versus downward strength over the past 14 days on a 0-100 scale) is 42.5, a neutral level.
- The 1-month change is -2.8%, the 3-month change is +1.1%, and the position versus the 52-week high is -18.3%.
- Relative strength versus KOSDAQ is 84 (1-99, converting return versus the index over the past year with more recent weight; higher means stronger than the market).
- That places it in roughly the top 15% of all stocks by strength.
- Over the past three months it outpaced the index by 27.3%.
- Chart reading is best done alongside trading volume and the dates of disclosures.
- Last year (2025) revenue was ₩147.0 billion, operating profit ₩15.3 billion and net profit ₩19.0 billion, producing solid profitability with an operating margin of 10.4% and a net margin of 12.9%.
- ROE (how much is earned in a year on equity) is 12.7%, above the peer average.
- The payout ratio is 29.1% and the dividend yield is about 4.1%, so it also tends to look after shareholder returns.
- The P/E (how many times a year's profit the share price represents) is 7.61x and the P/B (how many times book value the share price represents) is 0.97x, a zone where the price is cheap relative to earnings and book value.
- The debt ratio is somewhat high at 175.8%, but with a current ratio of 135.7% it has the short-term ability to pay.
- Since this is a stock whose profit recovered sharply last year, the forward P/E reflecting this year's earnings becomes the basis for judging true value, and that figure is also below the peer median, so it still reads as being in undervalued territory.
- Revenue fell for a year from ₩149.6 billion in 2023 to ₩132.8 billion in 2024, then grew again +10.7% to ₩147.0 billion in 2025.
- The scale of the earnings recovery was larger.
- Operating profit jumped +136.8% from ₩6.5 billion in 2024 to ₩15.3 billion in 2025, and net profit jumped +261.6% from ₩4.1 billion to ₩19.0 billion.
- Part of why the recovery looks large is the low base of a weak 2024, but it is the result of margins returning to a normal track as revenue grew again.
- This year's (2026) outlook is roughly revenue of ₩143.9 billion, operating profit of ₩6.3 billion and net profit of ₩14.0 billion, a picture that is one notch calmer than last year's large recovery.
- Indeed, first-quarter revenue was ₩35.6 billion (-2.8% year on year) and operating profit ₩1.8 billion (-36.2%), so earnings took a pause.
- That said, net profit held at ₩3.6 billion (+1.5%), and if the downstream capital-investment cycle and new supply contracts provide support, there is room for recovery through the year.
- The forward P/E reflects this year's earnings outlook.
- On March 30, 2026, through a 'corporate value enhancement plan (voluntary disclosure)', the company directly laid out its direction for enhancing value.
- If it contains figures, it serves as the primary basis for the outlook; if not, it is treated as directional material.
- On June 25, 2025, it filed an amended disclosure of a single supply contract worth ₩4.8 billion (5.5% of recent revenue), and whether this contract is a one-off or a repeatable transaction determines the medium-term revenue recognition.
- On May 11, 2026, it fair-disclosed preliminary first-quarter results (revenue ₩35.6 billion, operating profit ₩1.8 billion, net profit ₩3.6 billion).
- It is worth confirming, alongside the next disclosure, whether these results are in the same direction as the annual flow and whether any one-off factor is involved.
- The strengths are clear.
- Last year profit returned to a normal track, producing good profitability with an ROE of 12.7% and a net margin of 12.9%, and on top of a P/E of 7.72x and a P/B of 0.98x, the forward P/E reflecting this year's earnings is also below the peer median, so it reads as undervalued.
- A dividend yield of about 4.1% also provides a reward while waiting.
- On the other hand, points to consider are that this year's first-quarter operating profit fell versus a year earlier, so the earnings flow took a pause, and that with a 175.8% debt ratio the financial cushion is not ample.
- In sum, this is a stock whose cheap valuation comes into the light when downstream capital-investment demand revives and supply contracts recur, while the pace of recovery can be delayed if the quarterly earnings slowdown drags on or revenue leans on one-off contracts.
- Quarterly results and new-order disclosures are the key clues that will confirm the direction.
🔎 Valuation vs peers Undervalued
A peer set of companies with a nearby market cap within the machinery and equipment sector.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Yunsung F&C | — | 0.69x | -10.81% |
| Innotech | 14.46x | 1.92x | 13.25% |
| Samick THK | — | 1.02x | -28.59% |
Within machinery and equipment, we looked first at a public-data peer set with a nearby market cap. The current P/E (how many times a year's profit the share price represents) is 7.61x and the P/B (how many times book value the share price represents) is 0.97x. However, since smaller-cap stocks are strongly affected by earnings swings and financing disclosures, we did not draw firm conclusions from metrics based only on last year's confirmed results. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩143.9 billion | ₩6.3 billion | ₩14.0 billion |
| Next quarter | Q2 2026 | ₩38.5 billion | ₩2.2 billion | ₩3.0 billion |
Price history Close · MA20 · MA60
The latest close is ₩14,580 and the market capitalization is ₩144.7 billion. The price sits below its 20-day moving average (₩15,988) and below its 60-day moving average (₩15,860). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 42.5, a neutral level. The one-month change is -2.8%, the three-month change is +1.1%, and the position relative to the 52-week high is -18.3%. Relative strength versus the KOSDAQ is 84 (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 85% of all stocks. Over the past three months it outpaced the index by 27.3%. 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 +27.31% / 6M +38.99% / 12M +46.70%
Key metrics vs sector median
Valuation
The P/E of 7.61x is below the sector median (14.44x). The P/B of 0.97x is below the sector median (1.44x). Both metrics are low versus peers, so the price is not expensive relative to earnings and assets.
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)
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 12.7%, above the sector average (5.0%). The operating margin is 10.4%. The debt ratio is 175.8%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $99.2M | $88.0M | $97.4M | +10.68% ↑ faster |
| Operating profit | $11.6M | $4.3M | $10.1M | +136.84% ↑ faster |
| Net profit | $11.2M | $2.7M | $12.6M | +361.59% ↑ faster |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $71.5M | $94.2M | $99.2M | $88.0M | $97.4M |
| Operating profit | $3.1M | $15.3M | $11.6M | $4.3M | $10.1M |
| Net profit | $3.8M | $9.9M | $11.2M | $2.7M | $12.6M |
| Revenue CAGR | 4-yr avg 8.02% | ||||
Revenue rose 10.7% year over year (2023 ₩149.6 billion → 2024 ₩132.8 billion → 2025 ₩147.0 billion), and the three-year trend is 'mixed'. The pace of growth also quickened from the prior year. Operating profit rose 136.8% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 8.0%. The two-year revenue CAGR is -0.9%. In the most recent quarter (Q1 2026), revenue was 2.8% lower than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- P/E and P/B are both low versus peers, so the price looks inexpensive relative to earnings and assets.
- The dividend yield, at 4.1%, is on the high side.
- ROE of 12.7% points to solid profitability.
- Revenue grew 10.7% year over year, a sign of growth.
Points to watch
- The figures shown are based on the last annual report as of the writing date, so it is best to review the latest quarterly results and filings alongside them.
Recent news & events searched · sourced
- 2026-03-30UpdateCorporate value enhancement plan (voluntary disclosure): confirm the company's own plan textMaterial the company itself presented as a plan. If it contains figures, we treat it as the primary basis for the outlook box; if not, only as directional material. Source
- 2025-06-25Contract[Amended] Single supply contract (voluntary disclosure): contract value ₩4.8 billion, 5.5% of recent revenueThe contract value and term are key to future revenue recognition. Whether it is a one-off or a repeatable transaction determines the medium-term reading. Source
- 2026-05-11EarningsPreliminary operating results on a consolidated basis (fair disclosure): Q1 2026 revenue ₩35.6 billion, operating profit ₩1.8 billion, net profit ₩3.6 billionRecent confirmed or preliminary results. We check together whether they are in the same direction as the annual flow and whether any one-off factor is present. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩14,580 | ₩14,580 | Confirmed | link |
| Latest quarterly results | revenue ₩35.6 billion, operating profit ₩1.8 billion | revenue ₩35.6 billion, operating profit ₩1.8 billion | Confirmed | link |
| Annual results | revenue ₩147.0 billion, operating profit ₩15.3 billion | revenue ₩147.0 billion, operating profit ₩15.3 billion | Confirmed | link |
| Outlook/plan disclosure text | : | : | Confirmed | link |
| Contract disclosure text | []ㆍapprox. : approx. ₩4.8 billion · revenue 5.5% | []ㆍapprox. : approx. ₩4.8 billion · revenue 5.5% | Confirmed | link |
| Results disclosure text | : 2026 1 revenue ₩35.6 billion · operating profit ₩1.8 billion · net profit ₩3.6 billion | : 2026 1 revenue ₩35.6 billion · operating profit ₩1.8 billion · net profit ₩3.6 billion | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-05-29OwnershipOwnership-change filing
- 2026-05-29OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-18OwnershipOwnership-change filing
- 2026-05-15PeriodicQuarterly report
- 2026-05-11EarningsFair-disclosure notice
- 2026-05-04Disclosure
- 2026-05-04Disclosure
- 2026-05-04Disclosure
- 2026-03-30Disclosure
- 2026-03-30Shareholders' meeting notice
- 2026-03-26Disclosure
- 2026-03-24Disclosure
📖 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.