Korea Engineering Consultants Corporation (023350) AI Stock Analysis

Korea Engineering Consultants Corporation

(Korea Exchange:023350)

Select Model

Rating:56Neutral

Price Target:KRW 3,600.00▲(3.45% Upside)

Action:initiatedcoverage

Date:10/28/26

The score is anchored by mixed financial performance: a solid balance sheet, but a concerning TTM revenue drop and negative operating/free cash flow. Technical signals add pressure as the stock remains in a clear downtrend below key moving averages with weak momentum. Offsetting these risks, valuation is a major positive given the very low P/E and a moderate dividend yield.

Positive Factors

Balance SheetModerate leverage and a sizable equity base provide financial flexibility for an engineering consultancy whose project activity can vary by timing. The company is better positioned to absorb uneven contract schedules and fund operations than a heavily indebted peer, although debt has recently increased.

Negative Factors

Revenue DeclineA roughly 52% TTM revenue contraction is a material warning for an engineering firm because project awards and execution directly drive sales. If the weaker top-line trend persists, it could reduce operating leverage, weaken earnings visibility, and limit the resources available for growth.

Korea Engineering Consultants Corporation (023350) vs. SPDR S&P 500 ETF (SPY)

Market Cap: KRW 36.21B
Dividend Yield: 2.87%
Average Volume (3M): 47.64K
Price to Earnings (P/E): 2.8
Beta (1Y): 0.22
Revenue Growth: 7.02%
EPS Growth: 112.75%
Country: KR
Employees: 1,185
Sector: General
Sector Strength: 55
Industry: Engineering & Construction

Korea Engineering Consultants Corporation Business Overview & Revenue Model

Company Description

Korea Engineering Consultants Corp. (KECC) delivers a broad spectrum of land development and engineering services to clients both in South Korea and globally. Its comprehensive offerings span the entire project lifecycle, encompassing initial feasibi...

Korea Engineering Consultants Corporation Financial Statement Overview

Summary

Balance sheet strength (moderate leverage with TTM debt-to-equity ~0.23 and acceptable ROE ~7.9%) supports the score, but fundamentals are held back by two key risks in the latest TTM view: a sharp revenue decline (~-52% vs. prior period) and negative operating/free cash flow, indicating unstable cash conversion and potential working-capital or project-timing pressure.

Income Statement

56Neutral

Balance Sheet

74Positive

Cash Flow

33Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	423.09B	412.91B	398.91B	376.92B	283.70B	268.25B
Gross Profit	38.92B	36.08B	32.73B	35.86B	35.78B	31.91B
EBITDA	18.92B	8.89B	12.48B	16.78B	10.35B	17.95B
Net Income	13.38B	8.54B	6.23B	13.34B	3.80B	11.04B
Balance Sheet
Total Assets	454.87B	448.26B	418.09B	381.18B	332.70B	339.42B
Cash, Cash Equivalents and Short-Term Investments	71.89B	79.40B	67.28B	60.35B	48.17B	59.12B
Total Debt	40.84B	21.86B	26.20B	25.89B	29.14B	33.11B
Total Liabilities	275.59B	277.65B	261.42B	224.52B	183.90B	197.12B
Stockholders Equity	177.02B	170.60B	156.66B	156.66B	148.80B	142.30B
Cash Flow
Free Cash Flow	-30.46B	20.23B	12.50B	18.98B	-4.11B	13.04B
Operating Cash Flow	-19.56B	21.95B	13.44B	19.94B	-3.72B	14.84B
Investing Cash Flow	-11.37B	-3.83B	-44.98M	2.34B	-7.69B	-3.14B
Financing Cash Flow	16.57B	-6.26B	-1.75B	-5.38B	-6.32B	-11.21B

Korea Engineering Consultants Corporation Technical Analysis

Technical Analysis SentimentNegative

Last Price3480.00

Price Trends

50DMA3852.60Negative

100DMA4014.40Negative

200DMA4398.65Negative

Market Momentum

MACD-113.43Positive

RSI34.07Neutral

STOCH20.55Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KR:023350, the sentiment is Negative. The current price of 3480.00 is below the 20-day moving average (MA) of 3645.50, below the 50-day MA of 3852.60, and below the 200-day MA of 4398.65, indicating a bearish trend. The MACD of -113.43 indicates Positive momentum. The RSI at 34.07 is Neutral, neither overbought nor oversold. The STOCH value of 20.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KR:023350.

Korea Engineering Consultants Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

KR:023350 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KR:028100	71Outperform	KRW 197.00B	10.89	―	3.25%	18.37%	78.77%
KR:053690	60Neutral	KRW 164.53B	11.96	―	2.45%	-0.39%	-40.23%
KR:052690	56Neutral	KRW 3.28T	91.23	―	1.56%	7.95%	-63.79%
KR:023350	56Neutral	KRW 36.21B	2.76	―	2.87%	7.02%	112.75%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
KR:002150	55Neutral	KRW 168.14B	19.07	―	5.94%	10.68%	―
KR:009410	55Neutral	KRW 492.09B	2.76	―	―	-34.52%	―

* General Sector Average

Performance Comparison

KR:023350 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
KR:023350	Korea Engineering Consultants Corporation	3480.00	-925.56	-21.01%
KR:002150	Dohwa Engineering Co., Ltd.	5050.00	-691.14	-12.04%
KR:009410	Taeyoung Engineering & Construction Co., Ltd.	1493.00	-53.00	-3.43%
KR:028100	Dong-Ah Geological Engineering Co., Ltd	18460.00	4955.20	36.69%
KR:052690	KEPCO Engineering & Construction Co., Inc.	86300.00	-14370.02	-14.27%
KR:053690	HanmiGlobal Co., Ltd.	16300.00	-2819.34	-14.75%

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

Korea Engineering Consultants Corporation AI Stock Analysis