Hyundai Motor현대차

Hyundai Motor's earnings have fallen from their 2023 peak, and the shares are down sharply over three months, though the data shows no clear cause for the drop.

Trailing twelve-month revenue is ₩188.7T but operating margin has slipped to 5.1% and free cash flow is negative at -₩10.6T as of H1 2026. The shares closed at ₩288,000 on 2026-10-26, down 28.5% over three months but still up 14.1% over one year and well below the 52-week high of ₩783,000. Recent filings are mostly routine items such as related-party transactions and investor relations events, and the news flow covers investment plans and European and Chinese sales pressure.

What stands out

• Annual operating income peaked at ₩15.1T in 2023 and was ₩9.6T on a trailing basis to H1 2026, with operating margin down from 9.3% to 5.1%.
• Net income fell from ₩12.5T in 2024 to ₩8.1T on a trailing basis, and ROE is 7% versus 13.7% in 2023.
• Borrowings of ₩188.8T are high against cash of ₩20.3T, and liabilities are 191.3% of equity; the data does not explain how these are managed.
• Valuation metrics are low: P/E 7.2, P/B 0.5 and a 3.5% dividend yield, while the company's internal DCF base value is ₩333,969, below the current price.
• Foreign investors sold ₩252.7B over the last 20 days, while retail investors bought ₩279.8B; foreign ownership eased from 25% to 24.1% over 60 days.

What to watch

• Next earnings results and any further preliminary earnings filings, since the trailing margin trend is the main open question.
• Whether free cash flow turns positive, given the negative trailing figure of -₩10.6T.
• Reported EU carbon-rule exposure of ₩600B and sales pressure in Europe and China, as named in recent headlines.