BH Co., Ltd. (090460.KQ)

BH Co., Ltd. (090460.KQ) — VMCI valuation read

Headline read on 090460.KQ: VMCI of 51/100 versus a Technology sector median of 50. The 1-point above-median position is what makes BH Co., Ltd. a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on 090460.KQ: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on 090460.KQ: value (090460.KQ trades at 15.0x earnings, 17% below the Technology median of 18.0x), quality (ROIC of 15.0% sits 5.0pp above the Technology median (10.0%)), and risk (net debt to EBITDA of 0.7x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Technology 12.0x baseline.

090460.KQ fell 2.7% over the trailing 7 days, with a -21.4% read on a 30-day basis.