Eco&Dream에코앤드림

Eco&Dream's shares have rebounded sharply over three months, but the company is still loss-making with heavy debt.

Eco&Dream makes NCM precursor for battery cathodes and emissions-reduction catalysts. Trailing twelve-month revenue is ₩108.7B, but operating and net losses are large, and liabilities are about 128% of equity. The company raised ₩35B recently and says it expects record precursor shipments next year.

What stands out

• Trailing twelve-month revenue is ₩108.7B, with an operating loss of ₩6.8B and a net loss of ₩13.6B as of H1 2026.
• The 2025 full-year net loss was ₩8.6B, after a large 2024 net profit of ₩13.5B that the data does not explain in detail.
• Free cash flow is negative at about -₩18.9B, against cash of ₩23.4B and borrowings of ₩201.2B.
• The share price is ₩10,300, up 33.9% over one month and 55.6% over three months, but down 51.8% over one year; it trades about 0.9x book value.
• Recent filings include a convertible bond issue decision (October 6) and a major sales or supply contract (September 23). Foreign ownership fell from 4.9% to 0.9% over 60 days.

What to watch

• Details and terms of the convertible bond issue and the ₩35B securities issuance, including possible dilution.
• Whether the expected record precursor shipments next year appear in future results, since the data gives no forecast figures.
• Ongoing losses and debt levels; the data does not include analyst forecasts or a fair value estimate.