285:HKEXBYD Electronic (International) Co., Ltd. Analysis
Data as of 2026-05-23 - not real-time
₩19,160.00
Latest Price
7/10Risk
Risk Level: Medium
Executive Summary
Technical outlook: NOVATECH is trading at 19,160 KRW, well below its 20‑day (21,462 KRW), 50‑day (21,722 KRW) and 200‑day (21,614 KRW) simple moving averages, with a bearish MACD histogram and an RSI of 36, suggesting continued downside pressure. The stock sits above the identified support of 17,850 KRW but far from the resistance at 25,050 KRW, while volume is rising, hinting at active trading.
Fundamental & valuation view: Despite a massive cash pile of 90.4 bn KRW and a low debt‑to‑equity of 0.18, the company posted a –13.5% revenue decline and negative operating margin, and its dividend yield of 14.98% is backed by a payout ratio of 149%, rendering the payout unsustainable. The DCF fair‑value estimate of 19,872 KRW places the stock slightly undervalued relative to the market price, but high volatility (≈40% 30‑day) and a recent max drawdown of ‑39% add considerable risk.
Fundamental & valuation view: Despite a massive cash pile of 90.4 bn KRW and a low debt‑to‑equity of 0.18, the company posted a –13.5% revenue decline and negative operating margin, and its dividend yield of 14.98% is backed by a payout ratio of 149%, rendering the payout unsustainable. The DCF fair‑value estimate of 19,872 KRW places the stock slightly undervalued relative to the market price, but high volatility (≈40% 30‑day) and a recent max drawdown of ‑39% add considerable risk.
Market Outlook
Short Term
< 1 yearCautious
Model confidence: 6/10
Key Factors
- Price below all major SMAs indicating bearish momentum
- Bearish MACD and low RSI suggest further downside
- Unsustainable dividend payout ratio raises cash‑flow concerns
Medium Term
1–3 yearsNeutral
Model confidence: 5/10
Key Factors
- DCF fair value modestly above current price
- Strong cash position and low leverage provide a cushion
- Negative revenue growth and operating losses limit upside
Long Term
> 3 yearsPositive
Model confidence: 6/10
Key Factors
- Potential recovery in magnet and electronic component markets
- Large cash reserves enable strategic investments or acquisitions
- Dividend yield could normalize if payout is reduced, improving sustainability
Key Metrics & Analysis
Financial Health
Revenue Growth-13.50%
Profit Margin31.87%
ROE10.60%
ROA2.34%
Debt/Equity0.18
Op. Cash Flow₩13.4B
Free Cash Flow₩7.3B
Industry P/E39.5
Technical Analysis
TrendNeutral
RSI36.4
Support₩17,850.00
Resistance₩25,050.00
MA 20₩21,462.50
MA 50₩21,722.00
MA 200₩21,613.95
MACDBearish
VolumeIncreasing
Fear & Greed Index91.61
Valuation
Fair Value₩19,872.00
GradeUndervalued
TypeValue
Dividend Yield14.98%
Risk Assessment
Beta0.99
Volatility40.34%
Sector RiskMedium
Reg. RiskMedium
Geo RiskMedium
Currency RiskMedium
Liquidity RiskMedium
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This analysis may contain inaccuracies and is provided for informational and research purposes only. It is not personal investment advice, a recommendation, or an instruction to buy, sell, or hold any asset.