Motrex모트렉스

Motrex's revenue has held up in 2026, but profits have shrunk and the share price has fallen sharply over the past year.

Motrex, a Korean maker of in-vehicle infotainment and automotive electronics, reported trailing twelve-month revenue of about ₩702B to H1 2026 with a 5.6% operating margin and ₩17.6B net income. The share price closed at ₩5,530 on 27 October 2026, down 34% over one year, and the stock trades at 7.7 times earnings and 0.5 times book value, while the filings show a rights offering decision and a buyback trust contract.

What stands out

• Trailing revenue is roughly flat with 2025 (₩702B versus ₩702B), but operating income fell from ₩41.8B in 2025 to ₩39.3B on a trailing basis, and net income is well below 2024 and 2023 levels.
• Debt is high: liabilities are 178.4% of equity and borrowings are about ₩318B against ₩48B of cash.
• Return on equity has dropped from 24.6% in 2022 to 6.7% on a trailing basis, and the company pays no dividend.
• Foreign ownership fell from 3.8% to 2.2% over 60 days, and foreign and retail investors were net sellers over the last 20 days while institutions were net buyers.
• A July 2026 filing shows a rights offering (paid-in capital increase) decision, and a August 2026 filing shows a buyback trust contract, alongside several share acquisitions in other companies; a October 2026 news item covers a strategic investment in Daon I&C in AI and drone technology.

What to watch

• Terms and timing of the rights offering and whether it dilutes existing shareholders; the filings in the data do not give the size or price.
• Q3 2026 quarterly results and whether margins continue to narrow from 7.4% in 2024 to 5.6% trailing.
• Debt levels and interest costs given the high liabilities-to-equity ratio; the data does not include interest expense or debt maturity details.