Apro에이프로

Apro's revenue and profits have fallen sharply, and it is loss-making on a trailing basis, though the share price is far above its 52-week low.

Apro makes battery activation equipment for lithium-ion battery producers, with most sales exported. Trailing twelve-month revenue to H1 2026 was ₩105B, with an operating loss of ₩11.0B and a net loss of ₩8.5B, and borrowings of ₩43.5B exceed cash of ₩9.4B. The share price closed at ₩3,130 on 2026-10-23, down 49.6% over one year but up 11.6% over three months.

What stands out

• Revenue fell from ₩236B in 2023 to ₩147B in 2025, and trailing revenue to H1 2026 is ₩105B.
• The company moved from a net profit of ₩12.5B in 2023 and ₩6.5B in 2024 to net losses in 2025 and the trailing period.
• Liabilities are 381% of equity and free cash flow is negative ₩18.6B on a trailing basis.
• Shares trade at 0.8 times book value and 0.4 times sales, with a 1.6% dividend yield; P/E is not meaningful because earnings are negative.
• Foreign ownership slipped from 4.7% to 4.4% over about 60 days, while retail and institutional investors were net sellers over the last 20 days.

What to watch

• The Q3 2026 results and the next half-year or annual filings, to see whether losses narrow and whether borrowings are reduced.
• The repeated amended filings on acquisition of tangible assets (latest 2026-10-07), whose purpose and amounts are not described in the data provided.
• Whether the company's debt and negative free cash flow lead to further financing needs; the data does not include details on this.