Komelon makes and sells measuring tools centered on tape measures, supplying everything from small household products to industrial settings that require precise length measurement, such as machinery, automotive, shipbuilding and aerospace, under its own KOMELON brand at home and abroad. Because the business is concentrated in a single product line, results read relatively simply. In March 2026 the company voluntarily disclosed a corporate value-up plan, and a disclosure on a change in its profit-and-loss structure confirmed full-year results of ₩72.3 billion in revenue, ₩18.0 billion in operating profit and ₩22.6 billion in net profit. The notable points are that high profitability (operating margin 24.9%, net margin 31.2%), cash and equivalents worth dozens of times the debt due within a year, and a P/E of 7.7x, P/B of 0.69x and a dividend yield of 3.6% make the undervaluation clear against both assets and earnings, while revenue fell 2.3% year on year and the three-year trend is mixed, leaving the market wanting confirmation that the top line is climbing back onto a growth track.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt ratio, current ratio and interest burden all look healthy.
- Revenue fell 2.3% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 0.5% lower than a year earlier.
- ROE is 8.9% (controlling-interest basis). It is above the sector average.
- Operating margin is 24.9%.
- The forward P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Kang Dong-heon 34.79% (individual)
Controlling bloc incl. related parties 35.43%
With the controlling bloc holding 35%, the ownership structure is stable.
🔎 In-depth analysis
- Komelon makes and sells measuring tools centered on tape measures.
- Tape measures are used widely, from small products for home use to industrial settings that require precise length measurement such as machinery, automotive, shipbuilding, aerospace and electronics.
- Komelon is a measuring-tool specialist that sells its own brand (KOMELON) both domestically and in overseas markets.
- Because the business is concentrated in a single product line, results read relatively simply, and since the market cap is not large, it is worth watching how each new disclosure affects results and the share count.
- The recent close is ₩19,510 and the market cap is ₩176.5 billion.
- The price sits below the 20-day line (₩19,547) and below the 60-day line (₩19,549).
- Being under both the short- and medium-term moving averages, the trend looks pressured.
- The RSI (a supplementary gauge that weighs recent up-moves against down-moves over the last 14 days on a 0-100 scale) is 51.2, a neutral level.
- The one-month change is +8.4%, the three-month change is -7.5%, and the position versus the 52-week high is -15.7%.
- Relative strength versus the KOSDAQ is 90 (1-99, converting the past year's return versus the index with more weight on recent performance; higher means stronger than the market).
- That puts it in roughly the top 9% of all stocks by strength.
- Over the last three months it led the index by 26.9%.
- Chart reading is best done alongside volume and disclosure dates.
- Recent full-year revenue was ₩72.3 billion, operating profit ₩18.0 billion and net profit ₩22.6 billion.
- With an operating margin of 24.9% and a net margin of 31.2%, the company keeps a thick slice from what it sells, and ROE (how much it earns on equity in a year) is 8.9%, above the peer average.
- The debt ratio (debt against equity) is 104.1%, but the current ratio is 2,681%, meaning cash and equivalents vastly outweigh debt due within a year, so short-term liquidity is very ample.
- On the diagnostics, financial soundness is stable and profitability is sound.
- The P/E (the multiple on the past year's earnings) is 7.83x and the P/B (the multiple on book value) is 0.70x.
- A P/B below 1 means the share price is lower even than book-value net assets, so this figure reads not as a burden but rather as a signal that the stock is cheap against its assets.
- The forward P/E is nearly the same at 7.82x, and given that many peers are loss-making (negative ROE), staying at this multiple while consistently turning a profit is close to undervalued territory.
- Revenue moved steadily in the ₩70 billion range, at ₩70.6 billion in 2023, ₩73.9 billion in 2024 and ₩72.3 billion in 2025, while operating profit jumped sharply from ₩9.0 billion in 2023 to ₩19.9 billion in 2024 and held at a high ₩18.0 billion in 2025.
- In Q1 2026 the company posted ₩17.8 billion in revenue, ₩3.9 billion in operating profit and ₩5.3 billion in net profit; revenue was roughly flat (-0.5%), but net profit rose 15.6% year on year, so even with a similar top line the margin it keeps is improving.
- This year's outlook is around ₩72.3 billion in revenue, ₩15.8 billion in operating profit and ₩22.4 billion in net profit, giving a forward P/E of 7.91x.
- That picture comes from revenue holding in the ₩70 billion range without much change while the high operating margin and net profit are sustained, grounded in steady demand for measuring tools and cost management that has taken hold.
- Top-line growth is in a slowdown phase, but profitability is holding firm.
- On March 3 and 5 (a correction), 2026, the company issued a voluntary disclosure of a corporate value-up plan.
- This is the company's own statement of how it will grow shareholder value, a basis for gauging the direction of dividends and capital deployment.
- On March 10, a disclosure on a change in its profit-and-loss structure (a correction) confirmed full-year results of ₩72.3 billion in revenue, ₩18.0 billion in operating profit and ₩22.6 billion in net profit.
- Taken together, the voluntary value-up plan and the confirmed results form a disclosure flow that lets you check both the direction of results and the company's intent on returning value to shareholders.
- The strengths are clear.
- High profitability (operating margin 24.9%, net margin 31.2%), cash and equivalents worth dozens of times the debt due within a year, and a low valuation of a P/E of 7.7x and P/B of 0.69x all come together in one place.
- Trading below book value while consistently turning a profit at a time when many peers are loss-making, backed by a 3.6% dividend yield, is a textbook strength of an undervalued stock.
- The point to watch is top-line growth.
- Revenue fell 2.3% year on year and the three-year trend is mixed, so even with good earnings quality the market wants confirmation that revenue is meaningfully rising again.
- In short, the core is the undervaluation against assets and earnings, built on stable profitability, financials and dividends; that appeal grows stronger when the top line climbs back onto a growth track, and re-valuation can slow if the revenue slowdown drags on.
🔎 Valuation vs peers Undervalued
Peers nearby in market cap within the medical, precision and optical instruments sector.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Dio | — | 0.87x | -0.71% |
| Hivision System | — | 0.55x | -6.86% |
| KNR Systems | — | 5.01x | -36.99% |
We looked first at public-data peers nearby in market cap within medical, precision and optical instruments. The current P/E (the multiple on the past year's earnings) is 7.83x and the P/B (the multiple on book value) is 0.70x. That said, because lower-market-cap names are more affected by earnings swings and financing disclosures, we did not settle the case on last year's confirmed results alone. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩72.3 billion | ₩15.8 billion | ₩22.4 billion |
| Next quarter | Q2 2026 | ₩18.7 billion | ₩4.7 billion | ₩7.3 billion |
Price history Close · MA20 · MA60
The latest close is ₩19,510 and the market capitalization is ₩176.5 billion. The price sits below its 20-day moving average (₩19,547) and below its 60-day moving average (₩19,549). 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 51.2, a neutral level. The one-month change is +8.4%, the three-month change is -7.5%, and the position relative to the 52-week high is -15.7%. Relative strength versus the KOSDAQ is 90 (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 91% of all stocks. Over the past three months it outpaced the index by 26.9%. 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 +26.92% / 6M +79.18% / 12M +86.18%
Key metrics vs sector median
Valuation
The P/E of 7.83x is below the sector median (22.72x). The P/B of 0.70x is below the sector median (1.61x). Both metrics are low versus peers, so the price is not expensive relative to earnings and assets.
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 10.4%, initial growth 2.0%→terminal 2.0%, 10-yr forecast, free-cash-flow basis, forward earnings power normalized 0.99x. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 8.9%, above the sector average (5.0%). The operating margin is 24.9%. The debt ratio is 104.1%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $46.8M | $49.0M | $47.9M | -2.26% ↓ slower |
| Operating profit | $5.9M | $13.2M | $11.9M | -9.76% ↓ slower |
| Net profit | $10.2M | $18.1M | $14.9M | -17.20% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $51.6M | $54.8M | $46.8M | $49.0M | $47.9M |
| Operating profit | $11.0M | $10.2M | $5.9M | $13.2M | $11.9M |
| Net profit | $13.1M | $10.5M | $10.2M | $18.1M | $14.9M |
| Revenue CAGR | 4-yr avg -1.83% | ||||
Revenue fell 2.3% year over year (2023 ₩70.6 billion → 2024 ₩73.9 billion → 2025 ₩72.3 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 9.8% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is -1.8%. The two-year revenue CAGR is 1.2%. In the most recent quarter (Q1 2026), revenue was 0.5% lower 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.
- The dividend yield, at 3.6%, is on the high side.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- Revenue fell 2.3% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2026-03-05Update[Correction] Corporate value-up plan (voluntary disclosure): company plan text confirmedThis is planning material presented directly by the company. Where figures are given, treat them as the primary basis for the outlook box; where they are absent, treat them only as directional material. Source
- 2026-03-03UpdateCorporate value-up plan (voluntary disclosure): company plan text confirmedThis is planning material presented directly by the company. Where figures are given, treat them as the primary basis for the outlook box; where they are absent, treat them only as directional material. Source
- 2026-03-10Earnings[Correction] Change of 30%+ (15%+ for large corporations) in revenue or profit-and-loss structure: full-year revenue ₩72.3 billion · operating profit ₩18.0 billion · net profit ₩22.6 billionThis is recent confirmed or preliminary results material. Check whether it points the same way as the annual trend and whether any one-off factors are involved. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩19,510 | ₩19,510 | Confirmed | link |
| Latest quarterly results | revenue ₩17.8 billion, operating profit ₩3.9 billion | revenue ₩17.8 billion, operating profit ₩3.9 billion | Confirmed | link |
| Annual results | revenue ₩72.3 billion, operating profit ₩18.0 billion | revenue ₩72.3 billion, operating profit ₩18.0 billion | Confirmed | link |
| Outlook/plan disclosure text | []: | []: | Confirmed | link |
| Outlook/plan disclosure text | : | : | Confirmed | link |
| Results disclosure text | []revenue30%: revenue ₩72.3 billion · operating profit ₩18.0 billion · net profit ₩22.6 billion | []revenue30%: revenue ₩72.3 billion · operating profit ₩18.0 billion · net profit ₩22.6 billion | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-06-10Disclosure
- 2026-06-10Disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-03-30Shareholders' meeting notice
- 2026-03-26Litigation disclosure
- 2026-03-26OwnershipOfficers'/major-shareholders' holdings report (amended)
- 2026-03-24Amended filing
- 2026-03-23Litigation disclosure
- 2026-03-20PeriodicAnnual business report (amended)
- 2026-03-20PeriodicAnnual business report
- 2026-03-16Amended filing
- 2026-03-16Amended 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.