Ecopro: Profit Recovery From a Loss-Making 2024-2025, With a High P/E and Active Capital Filings

Ecopro, a KOSDAQ-listed holding company, closed at ₩84,100 on 2026-10-12 with a market cap of about ₩11.4T, up 80.7% over one year. Trailing results to H1 2026 show an operating margin of 8.6% and net income of ₩140.7B, but the P/E of 81.2 and negative free cash flow temper the picture.

Written Oct 13, 2026 · Data as of Oct 12, 2026 · 0 views

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Thesis

The data supports a recovery story in reported earnings: operating income turned from a ₩293.0B loss in 2024 to ₩213.8B profit in 2025 and ₩286.1B on a trailing basis to H1 2026. Net income also moved from a ₩149.8B loss in 2025 to ₩140.7B profit on a trailing basis. The share price is up 80.7% over one year but flat over one and three months (-0.4% and 0.6%), and it sits well below the 52-week high of ₩190,000 while far above the low of ₩45,550.

What the data does not support is a clean, cash-backed recovery. Free cash flow is -₩546.3B, borrowings of ₩2.1T exceed cash of ₩1.3T, and revenue (₩3.3T trailing) remains less than half the 2023 level of ₩7.3T. Investor flows, foreign ownership, short balance and news headlines are not available in the data.

Business overview

Ecopro is classified as a holding company on KOSDAQ. It was founded on 1998-10-22 and listed on 2007-07-20, with 135,776,152 listed shares. The CEO is listed as 송호준. Revenue rose from ₩1.5T in 2021 to ₩5.6T in 2022 (+275.0%) and ₩7.3T in 2023 (+28.7%), then fell 56.9% to ₩3.1T in 2024 before rising 9.1% to ₩3.4T in 2025. The data gives no breakdown by subsidiary or product.

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Model estimate of fair value

The valuation model has no estimate for this company yet (not enough data, or no positive value with the base case).

Report history

Source: KRX statistical information