[Mirae Asset Securities] Emro : The emergence of a Korean company selling software to the US market(2024.07)
This is a report published by Su-jin Kim, Analyst at Mirae Asset Securities.
Emro : The emergence of a Korean company selling software to the US market
- Improving earnings backed by domestic contracts driven by ongoing cloud migration and digital transformation.
- EV/Sales valuation is appropriate: Emro’s corporate value is best assessed on a revenue-based valuation framework.
- Global software peers for comparison: Salesforce, ServiceNow, Workday, etc.