Hyundai Elevator현대엘리베이터

Hyundai Elevator's trailing profit is well above its sales-driven operating result, and the shares are down sharply over the past year.

Hyundai Elevator, a Korean elevator and escalator maker with a market value of about ₩2.6T, reported trailing twelve-month revenue of ₩2.47T and operating income of ₩230B to H1 2026. Its net income of ₩367B is far above operating income, and the data does not explain that gap. The stock closed at ₩66,600, down 21.6% over one year and near its 52-week low of ₩61,800.

What stands out

• Operating margin is 9.3% on a trailing basis, up from 8.5% in 2025 and 7.8% in 2024, while 2025 revenue fell 14.5%.
• Net margin of 14.8% is well above operating margin, so non-operating items or other income appear to matter; the data does not break this down.
• Debt is high: liabilities are 191% of equity and borrowings are ₩945B against cash of ₩410B.
• Trailing free cash flow is ₩217B, and the filings show a cash dividend decision and treasury share actions in August and October 2026.
• The company's own DCF base case is ₩68,637, close to the current price, with bear and bull cases of ₩36,077 and ₩124,783; these are internal model outputs, not forecasts.
• Foreign ownership fell from 23.4% to 21.2% over about 60 days, and 20-day foreign flows were net selling of about ₩17B.

What to watch

• The October 20 filing on a serious accident at a consolidated subsidiary; the data does not give its scope or financial impact.
• Completion of the treasury share disposal and cancellation, plus the asset sales of stakes in Hyundai MnSoft and Hyundai Mubox/Vex, as reported in October news.
• Upcoming annual results and any update on the dividend, which the data lists at a 21% yield.