HD Construction EquipmentHD건설기계

HD Construction Equipment is reporting stronger quarterly profit, but its share price has fallen sharply over the past year and three months.

The company reported a strong third quarter, with operating profit of ₩157.7B, up 24% on a year earlier according to news headlines, helped by engine and emerging-market equipment sales. Trailing results to H1 2026 show revenue of ₩6.64T, an 8% operating margin and a 6.3% net margin. The share price closed at ₩81,000 on 26 October 2026, down 37.5% over one month and 26.2% over one year, near its 52-week low of ₩80,600.

What stands out

• Trailing revenue to H1 2026 is ₩6.64T, well above the ₩3.78T reported for 2025, and trailing operating margin is 8%, versus 4.5% in 2025.
• Trailing free cash flow is ₩322B, while borrowings are ₩1.71T against cash of ₩768B.
• The share price trades at a P/E of 9.2 and P/B of 0.8, and the company pays no dividend.
• Foreign ownership fell from 17% to 15.8% over the past 60 days, and institutions net sold about ₩113B over the last 20 days while retail investors net bought about ₩136B.
• Recent filings include a share cancellation decision, a rights offering decision from August, and a major sales contract in October.

What to watch

• The company says it expects construction equipment market growth of about 11% this year and is targeting an operating profit of ₩1T next year, according to news reports; the data does not include any forecast from the company's filings.
• Details of the share cancellation and the rights offering, including their size and timing, which the data does not provide.
• Completion of the Gunsan engine plant, which news reports say is planned for month-end, and the company's full-year results.