Atec Mobility에이텍모빌리티

Atec Mobility is a small transit payment equipment maker whose shares have fallen sharply over the past year, with thin recent profitability.

The company sells transit payment and ticketing equipment mainly to platform operators and local governments. Trailing results to H1 2026 show revenue of about ₩64.6B and operating income of about ₩4.9B, but net margin is only 1.5% and free cash flow is negative at about -₩6.3B. The share price closed at ₩7,450 on 2026-10-16, down 28.1% over one year and near the lower end of its 52-week range.

What stands out

• Revenue rose 46.3% in 2025 to about ₩64.3B, but 2025 net income of ₩0.7B was far below 2024's ₩17.6B, which the data does not explain.
• Trailing operating margin is 7.6%, yet net margin is 1.5% and ROE is 1.5%, so little profit reaches shareholders.
• The DCF fair value model gives a base of ₩22,385 against the ₩7,450 close, with bear and bull values of ₩12,676 and ₩38,649; these are model outputs, not forecasts.
• Cash of about ₩5.3B and no reported borrowings, with liabilities at 36.4% of equity, suggest a conservative balance sheet on the reported figures.
• Foreign ownership eased from 4.3% to 4.1% over about 60 days, and 20-day flows were net negative for foreign and retail investors and positive for institutions.

What to watch

• The amended major sales or supply contract filings from July and September 2026, including what changed in their terms.
• Full-year 2026 results and whether free cash flow turns positive after the reported negative trailing figure.
• The discontinued logistics automation business and the trust contract termination, which the data does not explain further.