매출 하락 → 마진 압박 → 현금 악화
Critical매출이 -10.0% 감소하며 영업이익률이 -48.0%에서 -104.5%로 하락했다. 영업현금흐름도 동반 감소하여 수익-현금 순환이 약화되고 있다.
Evidence
매출 YoY -10.0% (2023→2024)영업이익률 -48.0%→-104.5%영업CF -4,682→-10,234
APTN
270520 · KOSDAQ₩3,005+8.48%
2026-09-04 closeAPTN last closed at ₩3,005 (+8.48%) on 2026-09-04. Listed on KOSDAQ; price, financials and dividends update daily after market close.
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Market Leader RS 95 · top 5%
New high + volume — the real recordrecord · not a prediction
Last 30 sessions
303 picks
Next-day win rate
50.7%
Avg next-day
-0.11%
vs market
-0.49%p
Every new-high-plus-volume pick we actually published (Korea market) — not this stock alone.
Signal history
| Date | Signal | +20 trading days |
|---|---|---|
A record, not a prediction.
How this is calculated
"·" means fewer than 20 trading days have passed since the event. Cup-and-handle entries are days our board actually showed the badge (archive grows daily since 2026-05-12); others are recomputed from price data.
Trade plan
Fill entry, stop, account size and risk percent to get a share count. The stop must sit below the entry.
A calculator · not advice or a guarantee
Financials & valuation at a glance
F
Overall: 에너지 30/30 · top 100%
Factor composite · relative position in sector
PER — · PBR 0.73 — own-history percentile 0/100 · 100/100
Open self-history band
PER0/100
PBR100/100
Factual information · not investment advice
Past reported results · not investment advice
More — deeper indicators
Financial safety
Reference indicatorAs of 2024Grey zoneFinancial-metric reference signal
Altman Z'' zoneZ'' 1.83
Distress
Grey
Safe
- Altman Z''
- 1.83
- Beneish M-Score
- -3.39
- Sloan accrual
- -4.33%
No statistical flag
부실·조작 위험을 나타내는 사실 지표입니다. 투자 조언이 아니며, 검증 전이라 참고용입니다.
Factual information, not investment advice.
Why has this company moved this way?
Auditable observations with the original numeric evidence.
차입 증가 → 이자부담 → 수익성 악화
Critical부채가 +212.7% 늘며 이자보상배율이 -2.9x에서 -6.9x로 하락했다. ROE도 -16.8%에서 -23.7%로 낮아져 차입 부담이 수익성을 누르고 있다.
Evidence
부채 YoY +212.7%이자보상배율 -2.9x→-6.9xROE -16.8%→-23.7%
Factual information, not investment advice.
Earnings quality · Piotroski F-Score
2/9Weak
Piotroski measures year-over-year financial improvement, not absolute quality.
Financial improvement score2/9
Profitability
- Positive ROANot passed
- Positive OCFNot passed
- Improving ΔROANot passed
- Accruals (OCF > net income)Pass
Leverage & liquidity
- Lower debtNot passed
- Higher current ratioNot passed
- No new sharesNot passed
Efficiency
- Higher gross marginPass
- Higher asset turnoverNot passed
Calculation note: F7(신주)은 equity/asset 유지로 근사
Already-stable companies may score lower when year-over-year improvement is limited.
Factual information, not investment advice.
Forensic signals
Anomaly and structural signals observed in the financial statements.
Revenue qualityDanger
매출 흑자인데 영업CF 적자 (OCF/매출 -56%). 통계적 정황 신호이며 회계부정 단정이 아닙니다.
Revenue qualityWarning
OCF/매출 3기 연속 하락. 통계적 정황 신호이며 회계부정 단정이 아닙니다.
Balance sheetWarning
부채총계 급증 (+213%). 통계적 정황 신호이며 회계부정 단정이 아닙니다.
Margin trendWarning
영업이익률 악화 (-48.0% → -104.5%, -56.5%p). 통계적 정황 신호이며 회계부정 단정이 아닙니다.
Factual information, not investment advice.
Industry structure
KRAs of 2026-09-05에너지
This stock is in 에너지: revenue rank 27 of 30, share 0%.
27 / 300%revenue share
Who dominates this industry?
- 1SK이노베이션28.5%
- 2HD현대25.8%
- 3S-Oil14%
- 4LG에너지솔루션9.8%
- 5GS9.6%
- 6앱튼0%
Concentration
ModerateCR3 68.3%HHI and CR3 are separate industrial-organization facts; they are not the polarization verdict.
Polarization
MixedConsistentPolarization measures industry gaps and structure, not valuation, forecast, or investment advice.
Margin lens
- IQR%p
- 9.81
- Direction
- 확대
- Level
- 보통
- Years
- 6
Value lens
- P90/P10
- 10.1
- Median P/B
- 1.01
- Level
- 넓음
- n
- 28
Survivorship note: 현재 산업 멤버십을 과거 연도에 소급 적용 — 과거 진입·퇴출 기업 미반영(복원 불가)
Factual information, not investment advice.
Risk sensitivity — adverse assumptions
Metric changes under stated assumptions; not a forecast or investment advice.
Base metrics
- Operating margin
- -104.5%
- Interest coverage
- -6.9x
- Return on equity (ROE)
- -23.7%
Operating margin −5pp
Operating lossInterest coverageBase -6.9x adverse case -7.2x
Return on equity (ROE)Base -23.7% adverse case -28.3%
Revenue −15%
Interest coverage riskInterest coverageBase -6.9x adverse case -5.9x
Return on equity (ROE)Base -23.7% adverse case -23.6%
Interest rate +2pp
Interest coverage riskInterest coverageBase -6.9x adverse case -3.6x
Return on equity (ROE)Base -23.7% adverse case -30.3%
Interest coverage limit
Already below the limit by 119.6ppInterest coverage limit at an operating margin of 15.1%
Interest expense coverage threshold
Key suppliers · Annual report
Annual reportDART · 2026-03-23Suppliers disclosed by the company in its 2026-03-23 annual report.
Suppliers without disclosed amount
HDPE
Who held it · filings
Filed recordA historical record from curated-guru 13F filings and DART 5%+ major-holding disclosures.
US 13F는 분기 공시이며 최대 45일 뒤 제출될 수 있습니다.
5%+ major-holding disclosures
- 에이프로젠74.45%2026-08-21 · 증감 +6.65%p
- 유토피아 파트너스17.85%2026-07-31 · 증감 +1.58%p
- 케이피아이2호조합16.20%2026-07-07 · 증감 +16.20%p
- 지피알(GPR)75조합12.95%2026-08-03 · 증감 -3.32%p
- 라르고스브릭투자조합12.20%2026-08-07 · 증감 -9.18%p
- 엠제이홀딩컴퍼니7.95%2026-07-31 · 증감 +7.95%p
Other stocks held by the same investors
A filing-based shared-holder record, not investment advice.
- 에이프로젠바이오로직스KRA003060 →
Shared holders: 에이프로젠
- 앱토크롬KRA109960 →
Shared holders: 에이프로젠
Connections
AI-extracted related companies · for reference
Suppliers
Customers
Recent filings
APTN's latest filings on Korea's DART. Open a headline for a reference summary and the original.
Source: DART (Korea electronic disclosure)
About APTN
- What technical signals does APTN (270520) have?
- APTN current technical signals: no active technical signal.
- Is APTN a cup-and-handle pattern?
- No. APTN has no valid cup-and-handle signal right now.
- What are APTN's financials and valuation?
- APTN's income statement, balance sheet and cash flow are free for the most recent 8 years; the full history is on Pro. PER/PBR, dividend yield and sector valuation bands are free.
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