JYP Entertainment is a K-pop agency that discovers and develops artists and earns money from their music and performances, with revenue split across four lines — recorded music and streaming, concerts and world tours, MD (merchandise), and management — and Stray Kids as the core IP that lifts results most, through both albums and overseas tours. Its first-quarter 2026 preliminary results on May 14, 2026 showed revenue and operating profit both jumping (operating profit +70%); in May it signaled a commitment to shareholder returns through an IR and treasury-share-related disclosures, and a large Stray Kids tour and a full album are set for the second half. The appeal is that, with a 25.9% ROE and net cash, a second-half album and a 56-date world tour could lift results and make it read cheaply on a forward basis; the cautions are that net profit swings sharply from quarter to quarter with valuation gains and losses on financial assets, and that dependence on specific artists is high.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt ratio, current ratio and interest burden all look healthy.
- Revenue rose 36.6% year over year, and the pace is quickening (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 32.1% higher than a year earlier.
- ROE is 25.9% (controlling-interest basis). It is above the sector average.
- Operating margin is 18.9%.
- The forward P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Park Jin-young 15.37% (individual)
Controlling bloc incl. related parties 15.82%
With the controlling bloc holding 16%, control is maintained but the free float is relatively large.
🔎 In-depth analysis
- JYP Entertainment is a K-pop agency that discovers and develops artists and earns money from their music and performances.
- Revenue comes largely along four lines: sales of recorded music and streaming, concerts and world-tour performances, MD (merchandise) such as light sticks and photocards, and management activities such as advertising and broadcast appearances.
- Its signature artists include Stray Kids, TWICE, ITZY, NMIXX and NEXZ, and among them Stray Kids is the core IP that lifts the company's results most, through both albums and overseas tours.
- In other words, 'who comes back and when, and where they tour' is what drives a given year's revenue.
- The latest close is ₩49,450 and market capitalization is ₩1.8 trillion.
- The price sits below both its 20-day line (₩53,278) and its 60-day line (₩57,472).
- Trading below both its short- and mid-term moving averages, the trend looks subdued.
- The RSI (a supplementary gauge that scales upward versus downward momentum over the past 14 days on a 0-100 range) reads 40.1, a neutral level.
- The one-month change is -4.5%, the three-month change is -15.6%, and the price stands -41.8% below its 52-week high.
- Relative strength versus the KOSDAQ is 57 (on a 1-99 scale converting the past year's return versus the index with more weight on recent performance; higher means stronger than the market), placing it around the top 42% of all stocks by strength.
- Over the past three months it outpaced the index by 10.9%.
- Chart readings are best considered alongside trading volume and disclosure dates.
- Profitability is this company's greatest strength.
- ROE (how much is earned in a year on equity) is a very high 25.9%, and the operating margin is 18.9%.
- The balance sheet is also solid.
- The debt ratio (borrowings against equity) is a low 36.4%, and with cash exceeding borrowings it is in a net cash position, with net debt (total borrowings minus cash) of -₩294.5 billion.
- On valuation, the P/E ratio (how many times one year's profit the share price represents) is 10.94x and the P/B (how many times book equity the share price represents) is 2.83x.
- The debt-adjusted metrics are good too: EV/EBIT (enterprise value divided by operating profit, a debt-adjusted counterpart to the P/E) is 10.8x, actually lower than the P/E thanks to net cash, and the FCF yield (actual cash earned relative to market cap; higher means more attractive cash generation) is 5.2%.
- One caveat: last year's net profit of ₩160.6 billion included large one-off items outside the core business, such as valuation gains on financial assets, so judging by the P/E on last year's net profit alone can make earnings look better than they are.
- Top-line growth is steady.
- 2025 revenue was ₩821.9 billion, up 36.6% year on year, and the five-year revenue CAGR reaches 43%.
- Operating profit dipped once in 2024, then rebounded 21% to ₩155.2 billion in 2025.
- In the first quarter of 2026, the core business reaccelerated, with revenue of ₩186.0 billion (+32.1% year on year) and operating profit of ₩33.4 billion (+70.0%).
- Net profit of ₩31.9 billion in the first quarter appears to be down 54% year on year, but this is a mirage.
- In the first quarter of last year, about ₩77.0 billion of one-off non-operating income, such as valuation gains on financial assets, inflated that quarter's net profit to ₩69.3 billion.
- The true core-business metric, operating profit, in fact rose 70%.
- The real picture this year is in the second half.
- Stray Kids release a full album on August 7 and tour 35 cities across 56 dates, while comebacks from other groups such as ITZY and NMIXX follow.
- Given the K-pop structure in which performance revenue clusters in the second half, the fact that the seasonally lightest first quarter already showed double-digit growth suggests room for full-year profit to rise further.
- Recent activity reads along three axes: results, shareholder returns, and the second-half lineup.
- On May 14 the company disclosed first-quarter preliminary results, with revenue and operating profit both jumping.
- On May 7, an IR presentation was accompanied by a treasury-share-related disclosure, signaling a commitment to shareholder returns.
- In March, a year-end dividend proposal passed the shareholder meeting, with a dividend yield of about 1.6%.
- On top of this, a large Stray Kids tour and a full-album release are set for the second half, so performance and recorded-music revenue will be reflected in earnest from the third quarter.
- The strengths are clear.
- High profitability with a 25.9% ROE, a net cash balance sheet, and Stray Kids as a proven large IP that lifts results in the second half through an album and a 56-date world tour.
- With operating profit already up 70% in the first quarter, core-business momentum is alive.
- There are cautions too.
- Net profit swings sharply from quarter to quarter with non-operating items such as valuation gains and losses on financial assets, so metrics based on last year's net profit cannot be taken at face value.
- Dependence on specific artists is also high, so an activity gap or a contract or risk event can widen earnings volatility.
- In short, if the second-half tour and album deliver as planned it can read cheaply on a forward basis, whereas if the core IP's activity is disrupted the earnings outlook can wobble.
🔎 Valuation vs peers Fairly valued
Among domestic listed K-pop and entertainment agencies, those with a similar business structure of idol-IP management, recorded music and performances.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| SM Entertainment | 4.92x | 1.70x | 34.63% |
| YG Entertainment | 20.79x | 1.49x | 7.19% |
The P/E of 12.3x sits in the middle — higher than SM (5.2x) and lower than YG (22.2x). On multiples alone it is a premium to SM, but JYP leads on profitability with a 25.9% ROE, and the hit IP Stray Kids' large tour is concentrated in the second half, giving relatively high earnings visibility. That said, last year's net profit included large one-off non-operating income such as valuation gains on financial assets, so the P/E on last year's net profit has the limitation of making earnings look somewhat better than the actual core business. Viewed on this year's earnings (forward), reflecting the 70% first-quarter rise in core operating profit and second-half performance revenue, the multiple burden eases. On balance, it falls in a fair range that is neither clearly cheap nor expensive versus peers, where the profitability premium is justified.
Price history Close · MA20 · MA60
The latest close is ₩49,450 and the market capitalization is ₩1.8 trillion. The price sits below its 20-day moving average (₩53,278) and below its 60-day moving average (₩57,472). 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 40.1, a neutral level. The one-month change is -4.5%, the three-month change is -15.6%, and the position relative to the 52-week high is -41.8%. Relative strength versus the KOSDAQ is 57 (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 58% of all stocks. Over the past three months it outpaced the index by 10.9%. 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 +10.91% / 6M -16.73% / 12M -31.09%
Key metrics vs sector median
Valuation
The P/E of 10.94x is below the sector median (26.72x). The P/B of 2.83x is above the sector median (1.93x). 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)
DCF (discounted cash flow) estimate — discount rate 10.1%, initial growth 5.8%→terminal 2.0%, 10-yr forecast, free-cash-flow basis, forward earnings power normalized 1.058x. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 25.9%, above the sector average (6.0%). The operating margin is 18.9%. The debt ratio is 36.4%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $375.5M | $398.8M | $544.7M | +36.57% ↑ faster |
| Operating profit | $112.3M | $85.0M | $102.9M | +21.04% ↑ faster |
| Net profit | $69.9M | $64.8M | $106.4M | +64.24% ↑ faster |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $128.5M | $229.2M | $375.5M | $398.8M | $544.7M |
| Operating profit | $38.4M | $64.0M | $112.3M | $85.0M | $102.9M |
| Net profit | $44.7M | $44.7M | $69.9M | $64.8M | $106.4M |
| Revenue CAGR | 4-yr avg 43.48% | ||||
Revenue rose 36.6% year over year (2023 ₩566.5 billion → 2024 ₩601.8 billion → 2025 ₩821.9 billion), and the three-year trend is 'rising'. The pace of growth also quickened from the prior year. Operating profit rose 21.0% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 43.5%. The two-year revenue CAGR is 20.4%. In the most recent quarter (Q1 2026), revenue was 32.1% higher than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
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 25.9% points to solid profitability.
- Revenue grew 36.6% year over year, a sign of growth.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- The figures shown are based on the last annual report as of the writing date, so it is best to review the latest quarterly results and filings alongside them.
Recent news & events searched · sourced
- 2026-05-14EarningsFirst-quarter 2026 consolidated preliminary results — revenue ₩186.0 billion, operating profit ₩33.4 billion, with core-business growth continuingShort term: operating profit +70% year on year confirms a strong core business. The net-profit decline is a base effect from last year's one-off non-operating income. Source
- 2026-05-07IRInvestor presentation (IR) and treasury-share-related disclosure — communicating results and shareholder returnsMedium term: confirms a commitment to shareholder returns. Treasury-share measures are favorable for supply-demand and per-share value. Source
- 2026-05-15FilingFiling of the first-quarter 2026 report — consolidated revenue ₩186.0 billion, operating profit ₩33.4 billion, net profit ₩31.9 billion confirmedShort term: preliminary figures confirmed. Reaffirms net cash (about ₩294.5 billion) and a high operating margin. Source
- 2026-03-18FilingFiling of the 2025 business report — consolidated revenue ₩821.9 billion, operating profit ₩155.2 billion, net profit ₩160.6 billionMedium term: revenue growth of +36.6% confirmed. Confirms that non-operating income was heavily reflected in net profit. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| First-quarter 2026 consolidated operating profit | ₩33,374,435,834 (₩33.4 billion) | ₩33,374,435,834 | Confirmed | link |
| First-quarter 2026 consolidated net profit | ₩31,904,529,664 (₩31.9 billion) | ₩31,904,529,664 | Confirmed | link |
| 2025 consolidated revenue / operating profit / net profit | revenue 8,219 / 1,552 / 1,606 | 2025 | Confirmed | link |
| 2026 full-year earnings outlook | forward PER approx. 11.6x(self-estimate) | — | Unverified | link |
Recent filings
- 2026-05-15PeriodicQuarterly report
- 2026-05-14EarningsFair-disclosure notice
- 2026-05-07Disclosure
- 2026-05-07EarningsEarnings disclosure
- 2026-03-26Shareholders' meeting notice
- 2026-03-26Disclosure
- 2026-03-18PeriodicAnnual business report
- 2026-03-18Audit report
- 2026-03-10Shareholders' meeting notice
- 2026-03-10Shareholders' meeting notice
- 2026-03-10EarningsEarnings filing
- 2026-03-10DividendCash/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.