BUMYANG CONSTRUCTION CO. LTD. (002410) AI Stock Analysis

BUMYANG CONSTRUCTION CO. LTD.

(Korea Exchange:002410)

Select Model

Rating:45Neutral

Action:initiatedcoverage

Date:10/28/26

The score is primarily held down by weak financial performance—persistent losses, declining recent revenue, and a critical balance-sheet concern with negative equity—only partially offset by a rebound to positive operating/free cash flow in 2025. With no usable technical signals provided and valuation metrics constrained by negative earnings and missing dividend data, there are limited counterbalances to the elevated fundamental risk.

Positive Factors

2025 Cash Flow ReboundThe return to positive operating and free cash flow provides evidence of improved near-term cash discipline or working-capital relief. If sustained, this could support project execution and reduce dependence on external financing, although the improvement remains volatile and modest relative to debt.

Negative Factors

Persistent LossesMulti-year losses and materially negative gross, operating and net margins indicate that the business has not converted its construction activity into sustainable profitability. Persistent losses can erode capital, restrict reinvestment and make a durable earnings recovery dependent on substantial operational improvement.

BUMYANG CONSTRUCTION CO. LTD. Business Overview & Revenue Model

Company Description

Operating from its base in South Korea, Bumyang Construction Co., Ltd. is a multifaceted enterprise engaged in residential construction, civil infrastructure projects, and water heating system installations. The company extends its business activitie...

BUMYANG CONSTRUCTION CO. LTD. Financial Statement Overview

Summary

Financial condition is severely pressured: multi-year deep losses (2022–2025) with materially negative margins and recent revenue declines (2024–2025). The balance sheet is a major risk with shareholders’ equity turning negative in 2025, signaling solvency strain. A partial offset is the return to positive operating and free cash flow in 2025, but cash generation is volatile and small relative to the debt burden.

Income Statement

12Very Negative

Balance Sheet

9Very Negative

Cash Flow

28Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	43.05B	71.84B	101.36B	120.76B	119.75B	111.91B
Gross Profit	-24.72B	-24.21B	-26.24B	4.74B	-1.57B	13.61B
EBITDA	-65.61B	-66.04B	-40.01B	-6.03B	-370.53M	8.46B
Net Income	-79.31B	-87.50B	-46.35B	-9.11B	-9.56B	4.83B
Balance Sheet
Total Assets	104.03B	102.98B	187.18B	192.91B	220.63B	198.49B
Cash, Cash Equivalents and Short-Term Investments	1.60B	1.63B	1.04B	395.88M	6.92B	40.08B
Total Debt	89.23B	89.10B	93.17B	73.42B	101.28B	66.60B
Total Liabilities	174.25B	172.44B	168.33B	130.78B	144.03B	112.32B
Stockholders Equity	-70.34B	-69.59B	18.73B	62.01B	76.60B	85.82B
Cash Flow
Free Cash Flow	4.63B	15.89B	-16.76B	-7.34B	-60.39B	6.47B
Operating Cash Flow	4.66B	15.90B	-16.63B	-6.09B	-58.39B	7.21B
Investing Cash Flow	3.56B	4.77B	-2.82B	26.46B	2.17B	-28.52B
Financing Cash Flow	-8.51B	-20.50B	19.24B	-26.75B	33.89B	24.41B

BUMYANG CONSTRUCTION CO. LTD. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

KR:002410 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KR:002140	60Neutral	KRW 42.95B	5.90	―	2.30%	-1.99%	-22.14%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
KR:002410	45Neutral	KRW 53.17B	-0.64	―	―	-70.03%	10.65%

* General Sector Average

Performance Comparison

KR:002410 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
KR:002140	Korea Industrial Co., Ltd.	1741.00	-675.03	-27.94%
KR:016250	SGC E&C Co. Ltd.	10440.00	-1847.74	-15.04%
KR:046940	Woowon Development Co., Ltd	2410.00	-321.48	-11.77%
KR:215360	WOORY INDUSTRIAL CO.,LTD	5890.00	-2396.16	-28.92%
KR:228340	TONGYANG PILE Inc.	2605.00	918.00	54.42%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 28, 2026

BUMYANG CONSTRUCTION CO. LTD. AI Stock Analysis