EV Advanced Material이브이첨단소재

EV Advanced Material's shares have fallen sharply over the past year, and the company is running losses on a trailing basis while filings show capital changes and new share offerings.

The Korean FPCB maker and transparent display business reported trailing twelve-month revenue of ₩61.3B for the half year to June 2026, with an operating loss of ₩1.9B and a net loss of ₩8.0B. The share price closed at ₩8,450 on 21 October 2026, down 58.3% over one year, giving a market cap of about ₩50.4B.

What stands out

• Revenue fell 28% in 2025 to ₩59.0B after a strong 2024 of ₩81.9B, and the company posted a net loss of ₩18.7B in 2025.
• The trailing figures show a net margin of -13.1% and free cash flow of -₩10.0B, against cash of ₩11.1B and borrowings of ₩7.5B.
• Balance sheet ratios look moderate: liabilities to equity is 34.5% and the stock trades at about 0.5 times book value, though the data gives no fair value estimate.
• Recent filings are dense: a rights offering decision in September, a capital reduction completed in September and amended in October, a trading halt on 1 October, and several share issuance and holding reports in early October.
• Foreign ownership is small at 2.5% and short balance is 1.3%; over the last 20 days foreign investors were net buyers while retail investors were net sellers.

What to watch

• Upcoming results and the details of the rights offering and small public offering, including how new shares may dilute existing holders.
• Whether the company returns to operating profit, since the trailing operating margin is still negative.
• Reasons for the 1 October trading halt and the amended half-year report, which the data does not explain.