HD-Hyundai Marine EngineHD현대마린엔진

HD-Hyundai Marine Engine's trailing profits are strong and its shares have fallen sharply over the past year, with recent contract filings.

The company makes marine engines for ships, with trailing-twelve-month revenue of ₩481.7B, operating income of ₩112.0B and net income of ₩194.7B to H1 2026. The share price closed at ₩34,950 on 2026-10-26, down 64.3% over one year and near its 52-week low of ₩34,850. The data does not explain the reasons for the decline.

What stands out

• Revenue has grown strongly, from ₩163.9B in 2021 to ₩402.4B in 2025, and net income turned positive in 2023 and rose to ₩165.1B in 2025.
• Trailing net income of ₩194.7B is well above operating income of ₩112.0B, a gap the data does not explain; the net margin of 40.4% is high relative to the 23.3% operating margin.
• Balance sheet shows cash of ₩340.3B against borrowings of ₩36.2B, with liabilities at 89.1% of equity and trailing free cash flow of ₩211.2B.
• Valuation is P/E 6.1 and P/B 2.3 on trailing figures, below the peers listed, which trade at much higher multiples.
• The company filed many major sales or supply contract disclosures from July to October 2026, but the filing titles do not give contract values or counterparties.

What to watch

• Whether the share price stays near its 52-week low and how the DCF base value of ₩35,528 compares with the current price; the model is a data-provided estimate, not a forecast.
• Upcoming full-year and quarterly results, since the data does not include a next earnings date.
• Foreign ownership, which fell from 13.2% to 12.8% over 60 days, and the 20-day net institutional outflow of ₩11.9B.