Jaeyoung Solutec earns money by making tiny actuating components that go inside smartphone cameras, such as autofocus (AF) actuators that set lens focus, OIS that steadies shake, and VCM that moves the lens minutely, and its top line and profit are growing together as the share of high-spec, higher-margin OIS rises. In May 2026 its first-quarter report disclosed a record quarterly result, and in April there was a re-listing and resumption of trading following a 5:1 share consolidation that reduced the share count and tidied the trading unit. The point to watch is that if high-spec OIS mass production and a rising share of high-spec products continue, the fastest revenue growth among peers and a low forward P/E bring undervaluation and earnings appeal to life together; but debt exceeds equity, short-term liquidity is tight, and with revenue concentrated in smartphone camera parts, results swing heavily with downstream volume and utilization.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt is somewhat higher than equity (debt ratio 211.5%).
- Assets that can be turned to cash within a year fall short of near-term liabilities (current ratio 74.6%).
- Revenue rose 47.7% year over year, and the pace is quickening (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 51.2% higher than a year earlier.
- ROE is 10.3% (controlling-interest basis). It is above the sector average.
- Operating margin is 6.5%.
- The P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Jaeyoung I-Tech 7.94% (corporate)
Controlling bloc incl. related parties 14.26%
With the controlling bloc holding 14%, ownership is dispersed, leaving room for control-related or activist dynamics.
🔎 In-depth analysis
- Jaeyoung Solutec earns money by making tiny actuating components that go inside smartphone cameras.
- Its mainstays are the autofocus (AF) actuator that automatically sets lens focus, OIS (optical image stabilization) that steadies photo shake, the VCM (voice-coil motor, a part that pushes the lens with magnets and coils) that moves the lens minutely within it, and the encoder that senses lens position.
- Most of its revenue comes from these camera-actuating components, and the top line and profit are growing together in particular as the share of high-spec, higher-margin OIS products rises.
- The company has also indicated a direction to extend this precision-actuation technology into fields such as robotics, automation equipment and mobility.
- The latest close is ₩6,190 and the market cap is ₩144.7 billion.
- The price sits below the 20-day line (₩7,678) and below the 60-day line (₩8,440).
- Trading below both the short- and mid-term moving averages, the trend is on the depressed side.
- RSI (a supporting gauge that measures upward versus downward strength over the past 14 days on a 0-100 scale) is 32.4, a neutral level.
- The 1-month change is -28.7%, the 3-month change is +128.8%, and the position versus the 52-week high is -63.8%.
- Relative strength versus KOSDAQ is 99 (1-99, converting return versus the index over the past year with more recent weight; higher means stronger than the market).
- That places it in roughly the top 1% of all stocks by strength.
- Over the past three months it outpaced the index by 190.0%.
- Chart reading is best done alongside trading volume and the dates of disclosures.
- On last year's (2025) confirmed results, the P/E (how many times a year's profit the share price represents) is 13.69x and the P/B (how many times the company's net assets the share price represents) is 1.42x.
- ROE (how much is earned in a year on equity) is 10.3%, above the peer average.
- The debt ratio (debt versus equity) is 211.5% and the current ratio (assets that can be turned into cash immediately versus debt due within a year) is 74.6%, a structure where debt exceeds equity and short-term liquidity is tight.
- The key here is that the 15.94x P/E is on a trailing basis, that is 'last year's confirmed profit'.
- With profit surging in the first quarter of this year, the company's actual earning power has risen well above last year's, and the forward P/E reflecting the increased profit is lower than peers (Jahwa Electronics 13.2x, MCNEX 6.5x, Partron 8.4x).
- In other words, even if the trailing multiple looks ordinary, on the current earnings flow the signal that it is rather cheap is stronger.
- Top-line growth is clear.
- Revenue rose from ₩86.1 billion in 2023 → ₩111.4 billion in 2024 → ₩164.5 billion in 2025, and last year's growth rate of 47.7% was faster than the prior year's (29.4%).
- After turning from operating and net losses in 2021-2022 to profit in 2023, profit has swelled year after year.
- The change showed most in the first quarter of 2026.
- Quarterly revenue was ₩58.1 billion (+51%), operating profit ₩9.1 billion (+562% year on year) and net profit ₩9.3 billion, a record quarter, and the first quarter's operating profit alone filled about 85% of all of last year's operating profit (₩10.7 billion).
- The driver was high-spec OIS revenue roughly doubling year on year, which the company explains as pre-emptive investment accumulated over the past several years starting to be recovered at the mass-production stage.
- Since margins improve as the share of high-spec products rises, the picture of this year's forecast profit jumping well above last year's is well supported by the quarterly earnings flow and the shift in product mix.
- The forward P/E reflects this risen earning power.
- Recent disclosures center on results and capital-structure tidying.
- The first-quarter 2026 report in May disclosed a record quarterly result, and in April there was a re-listing of shares and resumption of trading following a 5:1 share consolidation.
- A share consolidation is a procedure that reduces the share count to tidy the per-share price and trading unit; it does not change the company's value itself.
- Beyond that, reports of holding changes by executives and major shareholders, large-holding reports, a voluntary disclosure extending the term of a loan, and annual general meeting results followed in succession.
- No disclosure containing a new large order or the company's official annual earnings target was found.
- This is a stock with clear strengths.
- As high-spec OIS mass production got underway in earnest, profitability stepped up in the first quarter, and the pace of revenue growth is the fastest among its peer component makers (Jahwa Electronics, MCNEX, Partron).
- Even if the P/E on last year's profit looks ordinary, the forward P/E reflecting the risen earning power is lower than peers, reading toward undervalued.
- Points to watch together are also clear.
- Debt exceeds equity and short-term liquidity is tight, so the financial safety cushion is not thick, and with revenue concentrated in smartphone camera parts, results swing heavily with downstream set makers' product adoption, volume and utilization.
- In sum, this is a structure where 'if OIS mass production and a rising share of high-spec products continue, earnings and valuation appeal come to life together', and where the burden grows the same amount if downstream volume rolls over or financial improvement is slow.
🔎 Valuation vs peers Inconclusive
Component makers of smartphone camera actuators and camera modules, closest in business substance. Jahwa Electronics (AF/OIS actuators) is the direct peer, while MCNEX and Partron are downstream camera-module makers.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Jahwa Electronics | 11.92x | 1.26x | 10.60% |
| MCNEX | 6.17x | 0.83x | 13.37% |
| Partron | 8.49x | 0.56x | 6.60% |
On last year's confirmed results the P/E of 19.8x and P/B of 2.05x are higher than the direct peer Jahwa Electronics (P/E 15.2, P/B 1.61) or MCNEX and Partron (P/E 7-9, P/B 0.6-1.0), so on the trailing figures alone a premium is attached. But this trailing P/E has large limits. Because first-quarter operating profit surged 562% year on year and earned about 85% of last year's annual profit in a single quarter, a multiple divided by 'last year's profit' overstates the current earning power. On a forward basis reflecting this year's increased profit, the multiple drops to below the peer average (with no official company annual target disclosed, this is an approximation extending the quarterly trend). That said, the durability of the growth (OIS adoption, downstream volume) and whether the weak finances and the first quarter's high margin are sustained are variables, making it hard to conclude in one direction, so judgment is withheld.
Price history Close · MA20 · MA60
The latest close is ₩6,190 and the market capitalization is ₩144.7 billion. The price sits below its 20-day moving average (₩7,678) and below its 60-day moving average (₩8,440). 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 32.4, a neutral level. The one-month change is -28.7%, the three-month change is +128.8%, and the position relative to the 52-week high is -63.8%. Relative strength versus the KOSDAQ is 99 (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 99% of all stocks. Over the past three months it outpaced the index by 190.0%. 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 +189.98% / 6M +51.63% / 12M +610.08%
Key metrics vs sector median
Valuation
The P/E of 13.69x is below the sector median (22.72x). The P/B of 1.42x is in line with the sector median (1.61x). 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 10.4%, 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 10.3%, above the sector average (5.0%). The operating margin is 6.5%. The debt ratio is 211.5%, so the financial structure is somewhat high.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $57.1M | $73.8M | $109.1M | +47.69% ↑ faster |
| Operating profit | $4.4M | $6.6M | $7.1M | +7.09% ↓ slower |
| Net profit | $2.4M | $5.7M | $7.0M | +24.00% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $61.7M | $79.3M | $57.1M | $73.8M | $109.1M |
| Operating profit | -$2.6M | $3.6M | $4.4M | $6.6M | $7.1M |
| Net profit | -$1.8M | -$5.5M | $2.4M | $5.7M | $7.0M |
| Revenue CAGR | 4-yr avg 15.31% | ||||
Revenue rose 47.7% year over year (2023 ₩86.1 billion → 2024 ₩111.4 billion → 2025 ₩164.5 billion), and the three-year trend is 'rising'. The pace of growth also quickened from the prior year. Operating profit rose 7.1% 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 38.2%. In the most recent quarter (Q1 2026), revenue was 51.2% 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 10.3% points to solid profitability.
- Revenue grew 47.7% year over year, a sign of growth.
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
- 2026-05-11EarningsFirst-quarter 2026 report filed — consolidated revenue ₩58.1 billion, operating profit ₩9.1 billion (+562% year on year), net profit ₩9.3 billion, a record quarterKey both short and medium term. The first quarter's operating profit alone reached about 85% of last year's annual operating profit, suggesting a structural step-up in earning power. Source
- 2026-04-29FilingRe-listing of shares following a 5:1 share consolidation and lifting of the trading halt — the share count reduced to tidy the trading unit and per-share priceCapital-structure tidying with no change to corporate value. It aims to right-size the number of shares in circulation and is unrelated to results. Source
- 2026-04-06FilingTrading halt due to the 5:1 share consolidation and change to electronic registration — a procedure ahead of the re-listingShort-term suspension of trading followed by resumption. The share count falls to one-fifth and the per-share price is adjusted accordingly. Source
- 2026-04-20FilingReports of specified-securities holdings by executives and major shareholders and large-holding reports — filings of holding changesReference information for governance and supply/demand. No direct effect on business results. Source
- 2026-05-08FilingExtension of a loan term (voluntary disclosure) — extension of the repayment deadline on an existing loanReference item related to cash management and fund flow. An item to check together with the tight liquidity position. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Q1 2026 operating profit (consolidated) | ₩9.1 billion | — | Confirmed | link |
| 2025 full-year revenue | ₩164.5 billion | — | Confirmed | link |
| 5:1 share consolidation and re-listing | approx. 2,338 | (2026-04-29) | Confirmed | link |
| Forward P/E on this year's (2026) estimated net profit | approx. 7.8x(self-estimate) | — | Unverified | — |
Recent filings
- 2026-05-11PeriodicQuarterly report
- 2026-05-08Disclosure
- 2026-04-30Disclosure
- 2026-04-29Disclosure
- 2026-04-20OwnershipOwnership-change filing
- 2026-04-20OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-20OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-20OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-06Spin-off/split decision
- 2026-03-27Disclosure
- 2026-03-27Shareholders' meeting notice
- 2026-03-19Amended 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.