Hyundai Movex현대무벡스

Hyundai Movex's share price has fallen sharply over the past three months, while trailing profits have shrunk and free cash flow is negative.

Hyundai Movex is a Korean logistics automation, platform screen door and IT services company. On trailing figures to H1 2026 it reported revenue of ₩392.7B, operating income of ₩11.1B and net income of ₩17.4B, with a 2.8% operating margin and free cash flow of -₩17.0B. The share price closed at ₩17,890 on 22 October 2026, down 17% over three months, though still up 68% over one year.

What stands out

• Trailing operating margin of 2.8% is well below the 7.2% reported for 2024 and 4.6% for 2025.
• 2025 net income of ₩11.3B was less than half the ₩26.9B reported for 2024, even though 2025 revenue rose 15.4%.
• Trailing net income of ₩17.4B is higher than trailing operating income, so the company's profit before tax is not explained by the data given.
• Borrowings of ₩69B exceed cash of ₩37B, and liabilities are 105.8% of equity.
• Filings and news in October 2026 mostly describe group affiliate Hyundai Elevator selling stakes in other Hyundai group companies and cancelling treasury shares; the data does not say how this affects Hyundai Movex directly.
• Foreign ownership rose from 1.9% to 3.7% over the past 60 days, while foreign investors were net sellers of about ₩43.7B over the last 20 days.

What to watch

• Upcoming results and filings, including the next quarterly report, since recent trailing margins and cash flow have weakened.
• Whether free cash flow turns positive, given the trailing figure of -₩17.0B and borrowings above cash.
• Further major sales or supply contracts and executive or major shareholder trading plans, which appear frequently in recent filings.