GC MediEye (032620) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
GC MediEye is classified under the games and software sector, a small-to-mid-cap company that steadily generates revenue from content and software, posting annual 2025 revenue of ₩197.7 billion. A February 2026 filing confirmed full-year revenue of ₩197.7 billion, operating profit of ₩7.5 billion and net profit of ₩37.0 billion, and it earned ₩49.8 billion in revenue and ₩2.2 billion in operating profit in the first quarter. With operating profit rising every year and net profit swinging into the black, profitability is strong, shown by an ROE of 26.1%. What stands out recently is that if core operating profit tracks the outlook and quarterly earnings stabilize, the low valuation of a 3.78x P/E and a 0.99x P/B could be strongly highlighted; on the other hand, because the 2025 net margin (18.7%) was higher than the operating margin (3.8%), non-operating items were mixed into net profit, and with quarterly net profit falling year over year, the appeal could weaken if reliance on non-operating gains for net profit grows.
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 “Software” (Internet, Platforms & Software), a type typically read first through forward P/E.
Software scales cheaply — once a product is built, serving another customer costs little, so profit can grow quickly as revenue climbs. Early on, though, spending on development and marketing runs ahead of earnings, which makes the forward P/E — based on expected earnings — the better starting point.
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
- Debt ratio, current ratio and interest burden all look healthy.
- Revenue rose 3.7% year over year, and the pace is slowing (3-year trend: rising).
- Net profit swung from a loss a year earlier back into the black (a turnaround).
- Most recent quarter (Q1 2026) revenue was 10.0% higher than a year earlier.
- ROE is 24.7% (controlling-interest basis). It is above the sector average.
- Operating margin is 4.6%.
- The P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder GC Care 52.65% (corporate)
Controlling bloc incl. related parties 52.78%
With the controlling bloc holding 53%, control is very secure but the free float is thin.
🔎 In-depth analysis Reading
GC MediEye is classified under the games and software sector. Annual 2025 revenue was ₩197.7 billion, steadily generated from its content and software business. As a small-to-mid-cap stock with a market capitalization of ₩139.9 billion, it is worth watching not only the underlying flow of the business but also the fact that a single quarterly earnings filing can have a relatively large effect on earnings and the share price.
The latest close is ₩3,000 and the market capitalization is ₩156.6 billion. The price sits above its 20-day moving average (₩2,905) and below its 60-day moving average (₩3,108). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 54.0, a neutral level. The one-month change is +3.5%, the three-month change is -23.3%, and the position relative to the 52-week high is -30.7%. Relative strength versus the KOSDAQ is 56 (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 56% of all stocks. Over the past three months it outpaced the index by 14.5%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Annual 2025 revenue was ₩197.7 billion, operating profit ₩7.5 billion and net profit ₩37.0 billion. ROE (how much is earned in a year on shareholders' equity) is 26.1%, above the sector average, while the debt ratio (debt relative to equity) is 48.6% and the current ratio is 1.83x, indicating a fairly stable financial structure. The current P/E (how many times a year's earnings the price is) is 4.23x and the P/B (how many times book value the price is) is 1.10x. A P/B below 1x means the price is trading around the level of the company's net assets, and a 3.78x P/E is below the sector median. For a stock whose earnings have just turned from a loss to a profit, the forward flow of earnings is closer to the essence than metrics calculated from a single past year; by that measure too, the current valuation leans toward the cheap side relative to both earnings and assets.
Revenue rose from ₩154.0 billion in 2023 to ₩190.6 billion in 2024 and ₩197.7 billion in 2025, a three-year average annual increase of 13.3%. Operating profit grew every year, from ₩3.5 billion in 2023 to ₩5.2 billion in 2024 and ₩7.5 billion in 2025, a two-year average annual increase of 46.4%, while net profit swung sharply from a ₩1.6 billion loss in 2024 to a ₩37.0 billion profit in 2025. In the most recent quarter, revenue rose 10.0% year over year to ₩49.8 billion and operating profit jumped 421.6% to ₩2.2 billion. This year's outlook calls for revenue of ₩212.3 billion and operating profit of ₩11.3 billion, a picture in which revenue grows at a high-single-digit pace and the operating margin recovers, consistent in direction with the strong first-quarter operating profit growth and the earnings improvement trend of recent years. In other words, this year's profit outlook can be seen as a figure supported by both revenue growth and margin improvement, not a single quarter that briefly spiked.
Recent filings center on earnings materials. A February 2, 2026 filing confirmed full-year 2025 revenue of ₩197.7 billion, operating profit of ₩7.5 billion and net profit of ₩37.0 billion (a revenue or profit-structure change disclosure), and a May 11, 2026 filing reported first-quarter 2026 revenue of ₩49.8 billion, operating profit of ₩2.2 billion and net profit of ₩0.5 billion (a fair-disclosure filing on consolidated provisional operating results and outlook). On an annual basis, earnings continue to improve, and whether the year-over-year decline in quarterly net profit is a one-off factor or a trend can be confirmed alongside the next quarter's data.
The strengths are clear. With operating profit rising every year and net profit swinging into the black, profitability is strong at an ROE of 26.1%, the financial structure is stable, and at a 3.78x P/E and 0.99x P/B the price is cheap relative to both earnings and assets. The share price has corrected nearly 38% from its recent high, with the RSI in oversold territory, so a gap has opened between earnings improvement and price action. Points to watch alongside this: the 2025 net margin (18.7%) was higher than the operating margin (3.8%), meaning non-operating gains and losses affected net profit, and quarterly net profit fell year over year. Accordingly, if core operating profit tracks the outlook and quarterly earnings stabilize, the current low valuation could be strongly highlighted; conversely, if net profit's reliance on non-operating items grows or revenue growth slows further, that appeal could weaken.
🔎 Valuation vs peers Undervalued
A peer group within games and software with adjacent market capitalization.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Polaris Office | 32.26x | 1.73x | 11.13% |
| KG Financial | 6.84x | 0.45x | 6.06% |
| Neurophet | — | 5.50x | -115.10% |
Within games and software, we first looked at a public-data peer group with adjacent market capitalization. The current P/E (how many times a year's earnings the price is) is 4.23x and the P/B (how many times book value the price is) is 1.10x. That said, for lower-market-cap names, earnings swings and financing filings carry a large effect, so we did not draw firm conclusions from last year's confirmed-results metrics alone. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩212.3 billion | ₩11.3 billion | — |
| Next quarter | Q2 2026 | ₩52.7 billion | ₩0.9 billion | — |
Price history Close · MA20 · MA60
The latest close is ₩3,000 and the market capitalization is ₩156.6 billion. The price sits above its 20-day moving average (₩2,905) and below its 60-day moving average (₩3,108). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 54.0, a neutral level. The one-month change is +3.5%, the three-month change is -23.3%, and the position relative to the 52-week high is -30.7%. Relative strength versus the KOSDAQ is 56 (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 56% of all stocks. Over the past three months it outpaced the index by 14.5%. 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 +14.48% / 6M +6.48% / 12M -21.48%
Key metrics Computed vs sector median
Valuation
The P/E of 4.23x is below the sector median (11.94x). The P/B is 1.10x. That said, this P/E is based on last year's (trailing) results. With recent quarterly earnings up sharply, the trailing P/E can look higher than it really is, so a precise read is best done on this year's expected (forward) earnings.
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 10.7%, 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 24.7%, above the sector average (1.0%). The operating margin is 4.6%. The debt ratio is 51.5%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $108.2M | $133.9M | $138.9M | +3.72% ↓ slower |
| Operating profit | $2.5M | $3.6M | $5.3M | +45.71% ↓ slower |
| Net profit | -$1.2M | -$1.1M | $26.0M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $78.5M | $93.7M | $108.2M | $133.9M | $138.9M |
| Operating profit | $7.0M | $4.7M | $2.5M | $3.6M | $5.3M |
| Net profit | $9.4M | $2.5M | -$1.2M | -$1.1M | $26.0M |
| Revenue CAGR | 4-yr avg 15.33% | ||||
Revenue rose 3.7% year over year (2023 ₩154.0 billion → 2024 ₩190.6 billion → 2025 ₩197.7 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit rose 45.7% year over year. The pace of that profit growth is gradually easing. Over the 5 years on record, revenue compound annual growth (CAGR) is 15.3%. The two-year revenue CAGR is 13.3%. In the most recent quarter (Q1 2026), revenue was 10.0% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- P/E and P/B are both low versus peers, so the price looks inexpensive relative to earnings and assets.
- ROE of 24.7% points to solid profitability.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- Revenue rose 3.7% year over year, and the pace is slowing (3-year trend: rising).
Recent news & events searched · sourced
- 2026-05-11EarningsConsolidated provisional operating results (fair disclosure): Q1 2026 revenue ₩49.8 billion, operating profit ₩2.2 billion, net profit ₩0.5 billionRecent confirmed or provisional earnings material. Check whether it moves in the same direction as the annual trend and whether any one-off factors are present. Source
- 2026-02-02EarningsChange in revenue or profit structure of 30% or more (15% for large corporations): full-year revenue ₩197.7 billion, operating profit ₩7.5 billion, net profit ₩37.0 billionRecent confirmed or provisional earnings material. Check whether it moves in the same direction as the annual trend and whether any one-off factors are present. Source
- 2026-05-11EarningsOutlook on consolidated operating results (fair disclosure): Q1 2026 revenue ₩49.8 billion, operating profit ₩2.2 billion, net profit ₩0.5 billionRecent confirmed or provisional earnings material. Check whether it moves in the same direction as the annual trend and whether any one-off factors are present. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩3,000 | ₩3,000 | Confirmed | link |
| Latest quarterly results | revenue ₩49.8 billion, operating profit ₩2.2 billion | revenue ₩49.8 billion, operating profit ₩2.2 billion | Confirmed | link |
| Annual results | revenue ₩197.7 billion, operating profit ₩7.5 billion | revenue ₩197.7 billion, operating profit ₩7.5 billion | Confirmed | link |
| Earnings filing source text | 2026 1 revenue ₩49.8 billion · operating profit ₩2.2 billion · net profit ₩0.5 billion | 2026 1 revenue ₩49.8 billion · operating profit ₩2.2 billion · net profit ₩0.5 billion | Confirmed | link |
| Earnings filing source text | revenue30%: revenue ₩197.7 billion · operating profit ₩7.5 billion · net profit ₩37.0 billion | revenue30%: revenue ₩197.7 billion · operating profit ₩7.5 billion · net profit ₩37.0 billion | Confirmed | link |
| Earnings filing source text | 2026 1 revenue ₩49.8 billion · operating profit ₩2.2 billion · net profit ₩0.5 billion | 2026 1 revenue ₩49.8 billion · operating profit ₩2.2 billion · net profit ₩0.5 billion | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-06-10OwnershipOwnership-change filing
- 2026-05-20OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-20OwnershipOwnership-change filing
- 2026-05-19Disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-05-11Fair-disclosure notice
- 2026-05-11EarningsFair-disclosure notice
- 2026-05-08OwnershipOwnership-change filing
- 2026-04-30Disclosure
- 2026-04-20OwnershipOwnership-change filing
- 2026-04-03OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-03OwnershipOwnership-change filing
📖 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.