Kangnam Jevisco (000860) 🔎 In-depth
KOSPI · Price as of 2026-08-06 · Updated 2026-08-09
Kangnam Jevisco is a chemical company that makes and sells architectural and industrial paints (coatings), with a real manufacturing base that steadily generates about ₩600 billion in revenue a year. A February 2026 disclosure confirmed full-year revenue of ₩598.6 billion, operating profit of ₩8.3 billion and net profit of -₩2.7 billion, and a dividend decision followed on the same day, while Q1 brought signs of profit reviving with revenue +4.2% and operating profit +23.3%. The key point now is that if paint demand and cost margins improve along the Q1 path, a sound balance sheet with a 42.8% debt ratio, a low P/B of 0.25x, and the profit recovery can all come to the fore together; but if cost pressure builds again or demand turns down, the pace of climbing out of last year's net loss could slow.
This page organises public market and filing data for information purposes. It is not a recommendation to buy or sell, nor investment advice. Metrics labelled “forward” are our own unverified estimates. Please verify with the original DART filings and decide at your own responsibility.
30-second brief
Pulled directly from the computed values below — not a separately written opinion.
What do the SourceComputedEstimateReading tags mean?
Source filings and exchange data · Computed calculated from public data · Estimate our own unverified projection · Reading drafted automatically, then rule-checked. See AI & Automation.
Core valuation metric
This stock's effective sub-sector is “Coatings & Paints” (Chemicals, Refining, Steel & Materials · Chemicals), a type typically read first through P/E.
Paints and coatings are a chemical consumer product sold steadily into construction, autos, and industrial finishing, so revenue tends to flow reliably into current-year profit. With earnings relatively stable, price-to-earnings (P/E) is the natural first lens.
Price against earnings alone becomes unstable when earnings swing. Reading it together with price against assets helps gauge the downside.
This note explains how each sector is typically valued and is educational context only, not investment advice.
At-a-glance assessment financial health · growth · profitability · valuation
- The most recent full-year net result was a loss.
- Revenue fell 6.9% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 4.2% higher than a year earlier.
- ROE is -0.4% (controlling-interest basis). It is below the sector average.
- Operating margin is 1.4%.
- A sector-metric and in-depth research verdict — see “Valuation vs peers” below for the basis.
Ownership & governance As of 2025-12-31
Largest shareholder Lim Ye-jeong 23.95% (individual)
Controlling bloc incl. related parties 50.64%
With the controlling bloc holding 51%, control is very secure but the free float is thin.
🔎 In-depth analysis Reading
Kangnam Jevisco is a chemical company that makes and sells paints (coatings). Centered on architectural and industrial coatings, it steadily generates about ₩600 billion in revenue a year, and because it is a real manufacturing business that makes and sells products, the revenue scale itself is relatively stable. That said, with a market cap of ₩157.3 billion that is not large, a single item — a raw-material price move, or a quarterly-results or shareholder-return disclosure — reflects relatively heavily in the metrics.
The latest close is ₩12,140 and the market capitalization is ₩157.8 billion. The price sits below its 20-day moving average (₩12,550) and below its 60-day moving average (₩13,044). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 44.9, a neutral level. The one-month change is -2.5%, the three-month change is -23.3%, and the position relative to the 52-week high is -35.4%. Relative strength versus the KOSPI is 25 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 24% of all stocks. Over the past three months it lagged the index by 5.4%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Most recent annual revenue is ₩598.6 billion, with operating profit of ₩8.3 billion and net profit of -₩2.7 billion. The operating margin was 1.4% and ROE (how much it earns in a year on equity) was -0.4%, so last year profitability was weak. The balance sheet itself, on the other hand, is sturdy. The debt ratio (debt versus equity) is low at 42.8%, the current ratio is 151%, and shareholders' equity reaches ₩619.6 billion. The crux is that the P/B (how many times book value the price is) is 0.26x. That means a market cap of ₩157.3 billion is about a quarter of the ₩619.6 billion in net assets on the books — lower even than peers Kyung In Synthetic (0.58x) and SP Chemicals (0.48x). Because of last year's loss the P/E cannot be calculated, but it would be a mistake to mark the company down on that one year's profit-and-loss alone: against the assets it holds, the price is clearly at a cheap spot.
Annual revenue was ₩638.8 billion in 2023, ₩643.1 billion in 2024 and ₩598.6 billion in 2025, down -6.9% last year, with operating profit slowing too. But the direction has been changing this year. Q1 2026 revenue rose +4.2% year over year to ₩146.9 billion, and operating profit rose +23.3% to ₩900 million. This is an early inflection signal for profit: as revenue rises again, profit recovers faster than it. In paints, margins move up and down with construction and industrial demand and raw-material prices, and the Q1 flow is closer to a phase where margins pass a trough and improve. Whether the recovery continues each quarter, and whether costs stay stable, is the key to this year's results.
On February 12, 2026, a disclosure of changes in revenue and profit-and-loss structure confirmed and revealed the full-year results (revenue ₩598.6 billion, operating profit ₩8.3 billion, net profit -₩2.7 billion). On the same day, a decision on a cash/in-kind dividend and a disclosure of the dividend record date (shareholder-register closing) also came out. That the company continued with dividend-related decisions even in a loss-making year can be read as a signal that its assets and cash strength provide support, so it is worth checking together whether the return terms and the actual profit recovery move in the same direction.
Kangnam Jevisco's strengths are clear. It has a real manufacturing base of about ₩600 billion in revenue paired with a sound balance sheet at a 42.8% debt ratio, and the price is at a 0.25x P/B — the deepest asset discount even among peers. Added to that, Q1 revenue +4.2% and operating profit +23.3% bring signs of profit reviving, making it a spot where asset value and a results recovery support each other. The point to watch is that last year was a full-year net loss, so it needs confirming whether the quarterly recovery carries through to a full-year profit. In sum, if paint demand and cost margins improve along the Q1 path, the low P/B and the profit recovery can come to the fore together; conversely, if cost pressure builds again or demand turns down, the pace of recovery could slow.
🔎 Valuation vs peers Undervalued
Peers of comparable market cap within chemicals.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Kyung-In Synthetic | 22.73x | 0.53x | 3.51% |
| Samhwa Paints Industrial | 21.55x | 0.49x | 2.26% |
| Genic | 12.11x | 5.13x | 42.30% |
We first looked at a public-data peer set of comparable market cap within chemicals. The current P/E (how many times a year's profit the price is) cannot be confirmed, and the P/B (how many times book value the price is) is 0.26x. That said, for smaller-cap names, profit swings and financing disclosures carry a large effect, so we did not draw firm conclusions from metrics based on last year's confirmed results alone. The outlook box is based on a DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩628.8 billion | ₩3.8 billion | — |
| Next quarter | Q2 2026 | ₩170.5 billion | ₩2.2 billion | — |
Price history Close · MA20 · MA60
The latest close is ₩12,140 and the market capitalization is ₩157.8 billion. The price sits below its 20-day moving average (₩12,550) and below its 60-day moving average (₩13,044). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 44.9, a neutral level. The one-month change is -2.5%, the three-month change is -23.3%, and the position relative to the 52-week high is -35.4%. Relative strength versus the KOSPI is 25 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 24% of all stocks. Over the past three months it lagged the index by 5.4%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M -5.36% / 6M -43.36% / 12M -50.12%
Key metrics Computed vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 0.26x is below the sector median (0.90x).
Enterprise value (EV)
EV = market cap + net debt. It reflects cash and debt, so it captures the real cost of the whole business that market cap alone misses; lower multiples are cheaper relative to earnings or sales.
Intrinsic value (DCF estimate) Estimate
Model output — not a price target. This is what the formula returns under the assumptions below, not a view on where the share price should go.
DCF (discounted cash flow) estimate — discount rate 9.8%, initial growth 4.0%→terminal 2.0%, 10-yr forecast, free-cash-flow basis. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is -0.4%, below the sector average (4.0%). The operating margin is 1.4%. The debt ratio is 47.2%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $448.8M | $451.8M | $420.5M | -6.93% ↓ slower |
| Operating profit | $16.3M | $14.4M | $5.8M | -59.60% ↓ slower |
| Net profit | $11.6M | $9.3M | -$1.9M | -120.29% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $415.2M | $472.9M | $448.8M | $451.8M | $420.5M |
| Operating profit | -$8.9M | $3.1M | $16.3M | $14.4M | $5.8M |
| Net profit | $31.7M | $4.3M | $11.6M | $9.3M | -$1.9M |
| Revenue CAGR | 4-yr avg 0.32% | ||||
Revenue fell 6.9% year over year (2023 ₩638.8 billion → 2024 ₩643.1 billion → 2025 ₩598.6 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 59.6% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is 0.3%. The two-year revenue CAGR is -3.2%. In the most recent quarter (Q1 2026), revenue was 4.2% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- —
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- Revenue fell 6.9% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2026-02-12EarningsChange of 30% or more (15% for large corporations) in revenue or profit-and-loss structure: full-year revenue ₩598.6 billion, operating profit ₩8.3 billion, net profit -₩2.7 billionThe most recent confirmed or preliminary results. Check whether they run the same way as the annual trend and whether any one-off factors are involved. Source
- 2026-02-12UpdateCash/in-kind dividend decision: review the return termsA disclosure related to cash returns or a change in share count. Check whether earnings strength and cash flow support it. Source
- 2026-02-12UpdateDecision on the record date (shareholder-register closing) for the cash/in-kind dividend: review the return termsA disclosure related to cash returns or a change in share count. Check whether earnings strength and cash flow support it. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩12,140 | ₩12,140 | Confirmed | link |
| Latest quarterly results | revenue ₩146.9 billion, operating profit ₩0.9 billion | revenue ₩146.9 billion, operating profit ₩0.9 billion | Confirmed | link |
| Annual results | revenue ₩598.6 billion, operating profit ₩8.3 billion | revenue ₩598.6 billion, operating profit ₩8.3 billion | Confirmed | link |
| Results disclosure text | revenue or profit structure changed by 30% or more (15% for large companies): revenue ₩598.6 billion · operating profit ₩8.3 billion · net profit -₩2.7 billion | revenue or profit structure changed by 30% or more (15% for large companies): revenue ₩598.6 billion · operating profit ₩8.3 billion · net profit -₩2.7 billion | Confirmed | link |
| Shareholder-return disclosure text | cash/stock dividend declared: check the payout terms | cash/stock dividend declared: check the payout terms | Confirmed | link |
| Shareholder-return disclosure text | record date set for cash/stock dividend: check the payout terms | record date set for cash/stock dividend: check the payout terms | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-06-01Corporate governance report
- 2026-05-15PeriodicQuarterly report
- 2026-03-26Disclosure
- 2026-03-26Shareholders' meeting notice
- 2026-03-25Disclosure
- 2026-03-18PeriodicAnnual business report
- 2026-03-17Audit report
- 2026-03-06Disclosure
- 2026-03-06Shareholders' meeting notice
- 2026-03-04Shareholders' meeting notice
- 2026-02-12DividendCash/stock dividend decision
- 2026-02-12DividendCash/stock dividend decision
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.