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[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.

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