247540 KR · EcoPro BMMW GOBLIN RESEARCH
EcoPro BM: Verify Cash Conversion Rather Than Shipment Recovery
Analysis date
Published
The investment stance is cautious observation as of 2026-11-05. Even at the quoted price of 90,400 KRW, it is difficult to conclude that the stock is undervalued. The decline in EV revenue outweighed growth in non-EV revenue, and it remains necessary to verify whether investments in Hungary and nickel translate into earnings per share and cash.
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- Non-EV Growth Failed to Offset the EV Decline
- Equity Offering Proceeds Fund Investment and Are Not Free Cash