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KREDKRED
319400KOSDAQ

Hyundai Movex

20,450
+300 (+1.49%)

Price chart

  • MA5
  • MA20
  • MA60

Adjusted prices rescale past bars with coefficients taken from the base prices the exchange itself published, correcting for corporate actions such as stock splits and reverse splits. Cash dividends are not reflected, and the risk measures on this page never use these adjusted figures.

Market capitalizationKRW 1T

Each day's close multiplied by the listed share count of this share class alone, sampled weekly. It is the figure for this issue only, not a combined total across common and preferred shares.

Overview

Summary

Hyundai Movex Co., Ltd. was established on August 1, 2011. The company is listed on the KOSDAQ market and completed a merger with NH SPAC 14 on March 4, 2021.

The company provides total logistics automation solutions including consulting, construction, and maintenance for various industries. It also designs and installs platform screen door systems for subway and light rail stations and provides comprehensive IT services.

Business overview as filed

가. 사업의 내용

■ 물류자동화

물류자동화 사업은 유통/택배, 대형 CDC, 자동차/타이어, 2차전지 및 ESS, 식/음료, 석유화학, 공항터미널 등 다양한 산업의 고객에게 생산 설비, 창고, 터미널 등의 물류프로세스 자동화를 구현 해주는 사업입니다. 그리고 구현에 필요한 제품, 시공, 컨설팅, 유지보수 등의 물류자동화 토탈솔루션 서비스를 제공하며, 이를 위해 AGV 등 로봇과 AI 기술 등을 고도화하여 고객 솔루션의 첨단화를 지속적으로 혁신하고 있습니다.

■ 승강장안전문(PSD)

승강장안전문 사업은 신뢰성 높은 플랫폼 스크린도어(PSD)시스템을 지하철 및 경전철 역사 내 선로와 승강장 사이에 설계, 제작 시공하여 선로 추락에 따른 승객의 안전을 보장합니다. 또한 역사 내 냉난방 효율 향상 및 열차풍, 소음, 분진 차단 등의 효과를 통해 도시 교통의 효율성을 높입니다.

■ IT서비스

IT서비스는 정보시스템 관련 고객의 다양한 요구에 대해 기획부터 구축, 공급, 개발, 운영 및 유지보수, 나아가 사용자에 대한 교육 및 훈련까지 정보 기술과 관련된 종합서비스를 제공하고 있습니다.

Company overview

가. 연결대상 종속회사 개황

나. 연결대상회사의 변동내용

다. 회사의 법적ㆍ상업적 명칭

회사의 명칭은 '현대무벡스 주식회사' 이며, 영문으로는 'HYUNDAI MOVEX Co., Ltd.'로 표기합니다.

라. 설립일자 및 존속기간현대무벡스 주식회사는 2011년 8월 1일 최초 설립되었으며, 코스닥 시장 상장을 위하여 엔에이치기업인수목적14호 주식회사와 2021년 3월 4일(합병등기일)에 합병을 완료하였습니다.

마. 본사의 주소, 전화번호, 홈페이지 주소

바. 중소기업 해당 여부

사. 주요 사업의 내용

■ 물류자동화 (매출 비중 약

79.4%)

유통/택배, 대형 CDC, 자동차/타이어, 2차전지 및 ESS, 식/음료, 석유화학, 공항터미널 등 다양한 산업의 고객에게 생산 설비, 창고, 터미널 등의 물류 프로세스 자동화 구현에 필요한 제품, 시공, 컨설팅, 유지보수 등의 물류자동화 토탈솔루션 서비스를 제공합니다.

■ 승강장안전문(PSD) (매출 비중 약

14.6%)

신뢰성 높은 플랫폼 스크린도어(PSD)시스템을 지하철 및 경전철 역사 내 선로와 승강장 사이에 설계, 제작 시공하여 승객의 안전을 보장하고 도시 교통의 효율성을 높입니다.

■ IT서비스 (매출 비중 약 6.0%)

다양한 산업 분야에 IT서비스를 안정적으로 제공하고 최신 기술을 접목한 물류 & IT통합 솔루션을 제공 합니다

아. 신용평가에 관한 사항

주) 기업의 신용능력에 따라 AAA 등급에서 D등급까지 10등급으로 구분 표시되며,AA 등급에서 CCC 등급에는 상대적 우열 정도에 따라 +, - 기호가 첨부됨.

자. 회사의 주권상장(또는 등록ㆍ지정) 및 특례상장에 관한 사항

Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.03.18), tables and figures omitted.

  • The summary is written separately from the filed text and is not the filer's wording, so it may phrase things differently from or omit parts of the original, which is shown alongside for checking.
  • The company introduction reproduces the sentences the filer wrote in its business report, with tables, figures and the sentences that point to other sections of the report omitted, and the accuracy of their content has not been separately verified.

VaR

4.29%
[2.79%, 7.42%] · As of 2026-10-02
VaR by window

The headline's measure for each of the three windows on one scale, the dot being the estimate and the bar its interval. The windows are nested and share their observations, so the three readings are not three independent measurements. The selected window is highlighted.

Daily return distribution

The issue's daily returns over the chosen window counted into equal-width bins. The vertical lines mark the VaR and cVaR above on the loss side. The published VaR sample applies exclusion rules for halts and first sessions that this raw daily series does not, so the bars and the marks can differ slightly at the edges.

Drawdown

Deepest drawdown 60.0% (2026-07-20). How far below its previous peak the issue stood each day over the chosen window, a description of the path already travelled.

If these numbers are unfamiliarThere is a guide that walks through VaR, cVaR and annualized volatility in plain language.Read the guide

Characteristic line

0.84
Beta [0.55, 1.14] · KOSDAQ150 · As of 2026-10-08
Intercept
+0.606%[-0.192%, +1.404%]
R squared
0.19
Observations
250
Trading-time corrected beta
0.77[0.30, 1.24]
252-day rolling beta

A 252-day window rolled one day at a time over the longest daily span of the characteristic line. It shows when the beta against the KOSDAQ150 and the annualized volatility of the issue's excess return rose and fell, and unlike the headline figures above it carries no interval.

252-day rolling annualized volatility

Each point is one period's index excess return and issue excess return, and the line is the regression fitted to those points. The risk-free rate is the certificate of deposit rate.

Financials

2019Separate basis2020Separate basis2021Consolidated basis2022Consolidated basis2023Consolidated basis2024Consolidated basis2025Consolidated basisTTMConsolidated basis
RevenueKRW 100M002,4012,1052,6783,4143,9393,927
Revenue growth%———-12.3427.2727.4615.40—
Operating incomeKRW 100M-0-015412241246182111
Operating income growth%———-21.11-65.91493.03-25.88—
Net incomeKRW 100M11819242269113174
Net income growth%—15.35—13.71-54.50539.82-58.04—
Attributable to ownersKRW 100M——819242269113174
Attributable to minoritiesKRW 100M—————00—
Operating margin%——6.425.781.557.204.622.84
Net margin%——3.394.391.577.882.874.42
ROE%————2.6215.647.0510.57
ROA%0.510.583.854.211.699.013.985.06
Debt ratio%18.9319.0766.6641.9654.8773.6176.81105.84
Current ratio%——230.02281.15210.92199.44178.05143.68
Quick ratio%——228.49279.11208.41196.30174.87140.07
Reserve ratio%1,842.201,855.801,065.151,214.311,244.301,445.001,287.861,336.42
Free cash flowKRW 100M————-91602-41—
FCF margin%————-3.4217.64-1.04—
OCF conversion%-37.28207.8982.71-281.13-236.18204.72-12.68—
Capex to revenue%————-0.29-1.500.68—
Receivable daysdays—————64.7——
Inventory daysdays———2.12.33.63.9—
Payable daysdays—————45.7——
Cash conversion cycledays—————22.5——
EPSKRW——808336230103157
PERx——39.3136.5794.1714.73183.32169.27
BPSKRW————1,3671,4621,4391,480
PBRx————2.482.3213.0517.90
Dividend per shareKRW——3030305050—
Payout ratio%——37.5036.1483.3321.7648.78—

Profit flowKRW 100M

Revenue
3,939
Cost of sales
3,229
Gross profit
710
SG&A expenses
528
Operating income
182
Profit before tax
119
Non-operating expenses
63
Net income
113
Income tax expense
6

This diagram traces where revenue goes at each step on its way to net income, using the filed amounts as they are. The non-operating result is taken as the difference between profit before tax and operating income and is shown as income or expense by its sign, and whatever a step's items leave unexplained is shown separately as other.

Revenue compositionKRW 100M

Margins%

Cash flow by activityKRW 100M

Balance sheet compositionKRW 100M

Debt ratio%

The left bar splits assets into current and non-current and the right bar splits the financing of those assets into liabilities and equity, so the two bars stand at the same height.

Quarterly resultsKRW 100M

Year-on-year growth%

Each quarterly bar is that quarter's three months and is never mixed with an annual figure. The growth rate is computed only where the same quarter a year earlier is also shown here, and is left blank when the base was a loss.

Cash conversion cycledays

Free cash flow breakdownKRW 100M

Inventory days and receivable days stack upward, payable days hang downward, and the cash conversion cycle they net to is drawn as the line. Each day count uses the average balance with the prior year, so the oldest year is not drawn. A day count whose line was not filed is left out, and the cycle is shown only for years that carry all three.

Free cash flow is cash from operating activities less spending on property, plant and equipment, and all three bars keep the sign as filed.

Owners' net margin%

Asset turnoverx

Financial leveragex

ROE%

ROE is the product of the owners' net margin, asset turnover and financial leverage. All three use period-end balances as denominators, and profit and equity are on the owners' basis, so the product matches the ROE in the table.

Financial statements

Balance sheet

2019202020212022202320242025
1992012,1122,1942,4892,9892,834
32328456498821,2671,231
1671691,2671,5461,6071,7211,603

Income statement

2019202020212022202320242025
002,4012,1052,6783,4143,939
-0-015412241246182
1111712546342119
11819242269113
Basic earnings per shareKRWNot applicableNot applicable808336230103
Diluted earnings per shareKRWNot applicableNot applicable798236*230102
11818934248111

Cash flow statement

2019202020212022202320242025
Net incomefrom the income statement11819242269113
Total adjustments to operating cash flowcomputed-11-14-352-141282-127
-0267-260-99551-14
-196-326361-5489-138
197Not applicable-15-464-255-69
Cash at beginning of periodKRW 100MNot applicable1116194283193586
11194283193586361
Net change in cash and cash equivalentsKRW 100M1-07897-90386Not applicable

In the latest fiscal year all three activities were net cash outflows.

A year whose own filing is absent is filled from the restated comparative in the following filing, and is marked as such. Operating indicators outside the statements, such as order backlogs, and audit opinions are not covered here, and per-share figures follow the filed values without retroactive adjustment for share splits.

Transcribed verbatim from the sentences the filer wrote in the fiscal {year} business report (received {date}), with tables, figures and cross-references to other sections omitted.

The newest annual filing shown was received on 2026.03.18.

Audit opinion

Fiscal yearOpinionAuditorFiscal year end
2025적정의견Term 7삼일회계법인2025-12-31
2024적정의견Term 6삼일회계법인2025-12-31
2023적정의견Term 5한영회계법인2025-12-31
2022적정한영회계법인2022-12-31
적정 (검토)한영회계법인2022-12-31
2019적정의견Term 1우리회계법인2019-12-31

The auditor's name and the opinion are transcribed verbatim from the filed audit report, and the wording follows the filer. A fiscal year shown twice means the filing carried two entries that the source does not distinguish.

Korean audit opinions come in four kinds, where an unqualified opinion (적정) finds the statements fairly presented, a qualified opinion (한정) does so except for a stated matter, an adverse opinion (부적정) finds them not fairly presented, and a disclaimer of opinion (의견거절) means the auditor could not obtain enough evidence to form a view.

Valuation

Valuation multiplesx

PER and PBR divide each period's closing price by the per-share figure filed for that same period, and a loss period is left blank. The quarterly view is a multiple of quarterly EPS.

Dividend historyKRW

The dividend-per-share bars are restated onto the current share basis for splits and par-value changes. The payout ratio and the dividend yield divide figures filed for the same period and are left unadjusted.

Payout ratio and dividend yield%

PER bandKRW

The price is the adjusted close and each band line multiplies the EPS of the latest completed fiscal year by a fixed multiple. The previous year's EPS stays in force until the next fiscal year ends, and the multiples divide the range between the lowest and highest annual PER on record into equal steps.

Valuation models

Five models priced under one set of assumptions, set beside the current price, with how each has moved by fiscal year.

Assumptions

Risk-free rate10-year treasury yield · 2026-10-084.40%
BetaDaily 5Y0.73
%
%
Cost of equity8.03%
Weighted average cost of capital—
Initial growth3.6%
Effective tax rate5.4%
Base fiscal year2025
Current priceKRW20,450

The risk premium and the terminal growth rate are adjustable assumptions, and the rest follow from the data and the formulas.

ModelModel priceKRWVersus current price
Gordon growth model845-95.9%
Dividend discount model DDM877-95.7%
Discounted cash flow FCFFNo borrowing line filed
Discounted cash flow FCFEBase-year cash flow not positive
Residual income model RIM1,190-94.2%
The table prices the newest fiscal year's accounts at today's treasury yield and the current price.

Dividend and residual income familyKRW

Discounted cash flow familyKRW

Each fiscal year's figures use that year's accounts and the treasury yield at its period end, with beta held at its current value, and splits or par changes are restated to the current share basis.

How the figures are calculated

Each model's formula is shown in symbols and then with this issue's own numbers substituted, step by step. Changing a value in the assumptions panel changes the numbers here too. Firm-level amounts are in hundred million won and per-share values in won.

Cost of equity

r=rf+β×ERPr = r_f + \beta \times \mathit{ERP}

r = 4.40% + 0.73 × 5.00% = 8.03%

Initial growth

g1=max⁡{ROE×(1−payout), 0},gt=g1+(gT−g1) t−1N−1g_1 = \max\{\mathit{ROE} \times (1 - \text{payout}),\,0\},\qquad g_t = g_1 + (g_T - g_1)\,\frac{t-1}{N-1}

g_1 = max(7.05% × (1 − 48.78%), 0) = 3.61%

Growth starts at this value in the first year and falls by equal steps each year to reach the terminal rate in the fifth

Gordon growth model

P0=D0 (1+gT)r−gTP_0 = \frac{D_0\,(1 + g_T)}{r - g_T}

P_0 = 50 × (1 + 2.00%) / (8.03% − 2.00%) = 51 / 0.0603 = 845 KRW

Dividend discount model DDM

P0=∑t=1NDt(1+r)t+DN(1+gT)(r−gT) (1+r)N,Dt=Dt−1(1+gt)P_0 = \sum_{t=1}^{N} \frac{D_t}{(1+r)^t} + \frac{D_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad D_t = D_{t-1}(1+g_t)

D_0 = 50, g_1 = 3.61%, g_T = 2.00%, r = 8.03%

YearGrowthDividend KRWDiscount factorPresent value KRW
13.61%520.925648
23.21%530.856846
32.80%550.793144
42.40%560.734141
52.00%570.679539
Terminal value2.00%9710.6795659
Total877

P_0 = 877 KRW

Residual income model RIM

P0=B0+∑t=1NRIt(1+r)t+RIN(1+gT)(r−gT) (1+r)N,RIt=(ROE−r) Bt−1P_0 = B_0 + \sum_{t=1}^{N} \frac{\mathit{RI}_t}{(1+r)^t} + \frac{\mathit{RI}_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad \mathit{RI}_t = (\mathit{ROE} - r)\,B_{t-1}

B_0 = 1,439 KRW, ROE = 7.05%, payout ratio = 48.78%, r = 8.03%, g_T = 2.00%

YearOpening book valueEarningsEquity chargeResidual incomeDiscount factorPresent value
11,439101116-140.9256-13
21,491105120-150.8568-13
31,545109124-150.7931-12
41,601113129-160.7341-12
51,659117133-160.6795-11
Terminal value-2770.6795-188

P_0 = 1,439 + -61 + -188 = 1,190 KRW

The cost of equity is the risk-free rate plus beta times the equity risk premium. Initial growth is the newest fiscal year's return on equity times its retention ratio, floored at zero, and falls by equal steps from that value in the first year to the terminal rate in the fifth. Only the Gordon model grows at the terminal rate from the start. Discounted cash flow starts from operating cash flow less capital expenditure, where FCFF adds after-tax interest paid and discounts at the weighted average cost of capital, and FCFE adds net borrowing and discounts at the cost of equity. The residual income model adds to book value per share the present value of earnings above the equity charge.

Other issues on the same market

Neighbours in the market capitalisation order.

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