BMTCo비엠티

BMTCo's trailing profits have recovered strongly, but free cash flow is negative and the shares have risen sharply over the past year.

BMTCo, a KOSDAQ-listed machinery company, reported trailing twelve-month revenue of ₩155B and net income of ₩23B to H1 2026, with a 14.7% net margin. Revenue in 2025 was ₩147B, up 10.7%, after a weak 2024 when net income fell to ₩4.1B. At ₩17,820 the shares are up 52.8% over one year and trade at about 7.7 times earnings and 1.2 times book value, below the ₩23,023 base-case DCF value in the data.

What stands out

• Trailing operating margin is 11.1% and net margin is 14.7%, though net income is above operating income, so non-operating items may be contributing; the data does not break this down.
• Trailing free cash flow is about -₩23B, while the company holds only ₩2.4B in cash, so cash generation is a clear weak point in the data.
• Liabilities are 79.8% of equity and the data shows no borrowings figure, so the debt picture is unclear.
• The company filed a half-year report and preliminary earnings in August 2026 and held an investor relations event in September 2026, but no news headlines are included in the data.
• The DCF base, bear and bull values are ₩23,023, ₩14,068 and ₩37,805, a model output in the data rather than a forecast or target.

What to watch

• Free cash flow and whether the negative trailing figure reverses in the next filings.
• The next quarterly report and any further changes to the shares' large run-up relative to the DCF range.
• Recent filings titled 'new facility investment' were amended in June 2026; the data does not say what the investment involves or how it is funded.