Hyundai Everdigm현대에버다임

Hyundai Everdigm is back to a small profit on a trailing basis, but margins are thin, free cash flow is negative and the shares are down sharply over the past year.

Hyundai Everdigm makes concrete pump trucks, fire and special-purpose vehicles, hydraulic attachments and cranes, and resells refurbished heavy equipment. Trailing revenue to H1 2026 is about ₩303.9B with operating income of ₩7.5B and net income of ₩8.7B, well below its 2022 peak. The share price is ₩6,100, down 22.4% over one year, with a market capitalisation of about ₩108.8B.

What stands out

• Revenue fell 18.5% in 2025 to ₩289.6B, and trailing revenue to H1 2026 is ₩303.9B, so the business has not yet regained its 2022 level of ₩374.4B.
• Operating margin is 2.5% on a trailing basis and ROE is 4.5%, both low in absolute terms.
• Net income of ₩8.7B on a trailing basis is higher than operating income, but the filings provided do not explain the gap.
• Trailing free cash flow is negative at about -₩18.8B, and borrowings of ₩79.2B are large against cash of ₩7.3B, with liabilities at 84.1% of equity.
• Valuation is modest on the given metrics: P/E 12.5, P/B 0.6, EV/EBITDA 14.5 and a 1.1% dividend yield. The data's DCF fair value figures are inconsistent (base ₩119, bull ₩8,668), so they do not provide a reliable reference.

What to watch

• Full-year 2026 results, as the preliminary earnings and half-year report have already been filed and the data does not include a forecast.
• Whether free cash flow turns positive given the large borrowings relative to cash.
• Trading signals: foreign ownership is 3.1%, the 20-day net flow shows foreign selling, and the data includes no news headlines to explain recent moves.