CG MedTech makes and sells dental consumable materials and devices such as bone grafts and barrier membranes used around implants, and is classified as a medical, precision, and optical equipment company. In March 2025 it merged in its dental-materials subsidiary GDS, consolidating the business into a single company. A March 2026 disclosure showed full-year revenue of ₩47.2 billion, operating profit of ₩3.8 billion, and net profit of ₩6.5 billion, marking a swing from loss to profit; earlier, in August and November 2025, it filed two corrected disclosures on a new facility-investment plan, preparing to expand capacity. The notable point right now is that revenue grew 36% in a year and the company turned profitable after two consecutive years of losses, with ROE above the peer average and P/B below peers as strengths, while the debt ratio exceeds 100% and Q1 operating profit declined year over year, so it needs confirming whether the profit trend continues quarter by quarter, and merger, facility-investment, and capital-raising disclosures carry large weight.
At-a-glance assessment financial health · growth · profitability · valuation
- Operating profit barely covers the interest bill (interest coverage below 1x).
- Revenue rose 36.4% year over year, and the pace is quickening (3-year trend: mixed).
- Net profit swung from a loss a year earlier back into the black (a turnaround).
- Most recent quarter (Q1 2026) revenue was 10.9% higher than a year earlier.
- ROE is 6.9% (total-net basis). It is above the sector average.
- Operating margin is 8.1%.
- The P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder CG Bio 40.41% (corporate)
Controlling bloc incl. related parties 40.41%
With the controlling bloc holding 40%, the ownership structure is stable.
🔎 In-depth analysis
- CG MedTech makes and sells medical materials and devices used in dental care.
- In industry classification it falls under medical, precision, and optical equipment, and its core product line is known to be dental consumables such as bone grafts and barrier membranes used around implants.
- In March 2025 it merged in its subsidiary GDS, a maker of dental medical materials, consolidating the same dental-materials business into a single company.
- As a small- to mid-cap with a market cap around ₩128.0 billion, it is worth watching not only the flow of the business itself but also how a single disclosure, such as a merger or facility investment, affects revenue and financials.
- The latest close is ₩1,064 and the market cap is ₩109.9 billion.
- The price sits below the 20-day line (₩1,226) and below the 60-day line (₩1,556).
- Trading beneath both the short- and mid-term moving averages, the trend is on the soft side.
- The RSI (an auxiliary gauge that compares upward and downward strength over the past 14 days on a 0-100 scale) is 39.1, at a neutral level.
- The one-month change is -14.5%, the three-month change is -49.8%, and the position versus the 52-week high is -68.2%.
- Relative strength against the KOSDAQ is 69 (1-99, converting the past year's return versus the index while weighting recent periods more heavily; higher means stronger than the market).
- That places it in roughly the top 30% by strength among all stocks.
- Over the past three months it lagged the index by 33.9%.
- Chart reading is best done alongside trading volume and the dates on which disclosures occurred.
- Full-year 2025 revenue was ₩47.2 billion, operating profit ₩3.8 billion, and net profit ₩6.5 billion.
- The operating margin was 8.1%, the net margin 13.8%, and ROE (how much is earned in a year on shareholders' equity) 6.9%, above the peer average.
- The debt ratio (debt relative to equity) is 122.2%, but the current ratio (assets convertible to cash within a year versus debt due within a year) is 212%, so short-term payment capacity is on the ample side.
- The P/E ratio (how many times a year's earnings the price is) is 16.89x and the P/B (how many times book value the price is) is 1.17x.
- The current P/E may look somewhat high because it is based on the first-year figure right after earnings turned positive, but in an inflection stretch where earnings are growing, the forward P/E (16.65x) that reflects future earnings better shows the actual value.
- Given that the P/B is lower than peers, the stock is on the cheap side on an asset basis, and the assessment sees it as undervalued.
- Revenue treaded water at ₩35.0 billion in 2023 and ₩34.6 billion in 2024, then jumped 36.4% in a single year to ₩47.2 billion in 2025, reigniting growth.
- Operating profit swung from two straight years of losses (-₩1.6 billion, -₩1.1 billion) to a ₩3.8 billion profit in 2025, and net profit likewise turned positive at ₩6.5 billion that year, a clear turnaround.
- The move out of losses and the step-up in revenue appear to have been driven together by the expansion of the dental-materials business and the revenue-consolidation effect from the GDS merger.
- For 2026, revenue of ₩54.3 billion and net profit of ₩7.7 billion are anticipated, figures derived by reflecting the Q1 confirmed results (revenue ₩13.0 billion, net profit ₩600 million, revenue +10.9%, net profit +18.5%) and this company's quarterly earnings pattern.
- The picture is one of revenue growing steadily from the high single digits into the double digits and net profit expanding versus the prior year, read as a phase where earnings scale grows past the first profitable year.
- That said, Q1 operating profit declining year over year is a point to watch for quarterly profitability swings.
- On March 12, 2026, a results-change disclosure showed full-year revenue of ₩47.2 billion, operating profit of ₩3.8 billion, and net profit of ₩6.5 billion.
- As the result of a swing from loss to profit, it is worth watching alongside subsequent quarterly results to see whether this is a one-off or a genuine recovery of the business itself.
- Earlier, in August and November 2025, it filed two corrected disclosures on a new facility-investment plan, adjusting the investment period and amount.
- This is a signal that the company is itself preparing to expand capacity, and it can serve as a primary basis provided by the company when gauging future revenue and profit prospects.
- The strengths are clear.
- Revenue grew 36% in a year and the company turned profitable after two consecutive years of losses, with ROE above the peer average and P/B below peers, giving it undervalued, growth, and turnaround characteristics at once.
- Because it is on a first-profitable-year basis, the trailing P/E looks high, but the forward P/E comes down, in the direction of the valuation burden easing as earnings grow.
- The point to be careful about is that with the debt ratio above 100% and Q1 operating profit down year over year, it needs confirming whether the profit trend continues quarter by quarter.
- Also, as a small-cap, a single disclosure such as a merger, facility investment, or capital raise carries large weight on earnings and share count.
- In sum, this is a name where the undervalued appeal comes alive when the earnings recovery and revenue growth keep being confirmed in quarterly results, and conversely one where the appeal fades if the swing to profit proves to be a single year or profitability wobbles again.
🔎 Valuation vs peers Undervalued
A market-cap-adjacent peer set within medical, precision, and optical equipment.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Dongbang Medical | 10.04x | 0.96x | 9.52% |
| ELC | 11.98x | 0.57x | 4.77% |
| PS Tech | 9.10x | 0.61x | 6.69% |
We looked first at a public-data peer set with a comparable market cap within medical, precision, and optical equipment. The current P/E is 16.89x and the P/B is 1.17x. Because lower-cap names are heavily affected by earnings swings and financing disclosures, we did not draw a firm conclusion from last year's confirmed-results metrics alone. The basis for the forecast box is a DART seasonality approximation.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩54.3 billion | ₩1.5 billion | ₩7.7 billion |
| Next quarter | Q2 2026 | ₩12.8 billion | ₩0.8 billion | ₩1.4 billion |
Price history Close · MA20 · MA60
The latest close is ₩1,064 and the market capitalization is ₩109.9 billion. The price sits below its 20-day moving average (₩1,226) and below its 60-day moving average (₩1,556). 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 39.1, a neutral level. The one-month change is -14.5%, the three-month change is -49.8%, and the position relative to the 52-week high is -68.2%. Relative strength versus the KOSDAQ is 69 (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 70% of all stocks. Over the past three months it lagged the index by 33.9%. 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 -33.92% / 6M -8.50% / 12M -1.75%
Key metrics vs sector median
Valuation
The P/E of 16.89x is below the sector median (22.72x). The P/B of 1.17x 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 4.0%→terminal 2.0%, 10-yr forecast, earnings-based. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 6.9%, above the sector average (5.0%). The operating margin is 8.1%. The debt ratio is 122.2%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $23.2M | $22.9M | $31.3M | +36.43% ↑ faster |
| Operating profit | -$1.1M | -$739,880 | $2.5M | — |
| Net profit | $865,336 | -$82,804 | $4.3M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $25.2M | $27.3M | $23.2M | $22.9M | $31.3M |
| Operating profit | -$540,771 | $281,026 | -$1.1M | -$739,880 | $2.5M |
| Net profit | -$3.3M | -$12.3M | $865,336 | -$82,804 | $4.3M |
| Revenue CAGR | 4-yr avg 5.55% | ||||
Revenue rose 36.4% year over year (2023 ₩35.0 billion → 2024 ₩34.6 billion → 2025 ₩47.2 billion), and the three-year trend is 'mixed'. The pace of growth also quickened from the prior year. Over the 5 years on record, revenue compound annual growth (CAGR) is 5.5%. The two-year revenue CAGR is 16.2%. In the most recent quarter (Q1 2026), revenue was 10.9% 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.
- Revenue grew 36.4% 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
- 2026-03-12EarningsChange in revenue or profit/loss structure of 30% or more (15% for large corporations): annual revenue ₩47.2 billion, operating profit ₩3.8 billion, net profit ₩6.5 billionThis is recent confirmed or preliminary results data. We check whether it points in the same direction as the annual trend and whether any one-off factors are present. Source
- 2025-11-04Update[Corrected filing] New facility investment, etc. (voluntary disclosure): new facility investment, etc. (voluntary disclosure) / (2025.11.04) new facility investment, etc. (voluntary disclosure) correction filing, correction date 2025-11-04, 1. disclosure document being corrected: new facility investment, etc., 2. submission date of document being corrected: 2025-01-10, 3. reason for correction: change in investment amount due to facility investment, 4. corrected items: item corrected, before correction, after correctionThis is planning data the company itself presented. If it contains figures, we treat it as a primary basis for the forecast box; if not, we treat it only as directional data. Source
- 2025-08-12Update[Corrected filing] New facility investment, etc. (voluntary disclosure): new facility investment, etc. (voluntary disclosure) / (2025.08.12) new facility investment, etc. (voluntary disclosure) correction filing, correction date 2025-08-12, 1. disclosure document being corrected: new facility investment, etc., 2. submission date of document being corrected: 2025-01-10, 3. reason for correction: change in investment period and amount due to design change, 4. corrected itemThis is planning data the company itself presented. If it contains figures, we treat it as a primary basis for the forecast box; if not, we treat it only as directional data. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩1,064 | ₩1,064 | Confirmed | link |
| Latest quarterly results | revenue ₩13.0 billion, operating profit ₩0.2 billion | revenue ₩13.0 billion, operating profit ₩0.2 billion | Confirmed | link |
| Annual results | revenue ₩47.2 billion, operating profit ₩3.8 billion | revenue ₩47.2 billion, operating profit ₩3.8 billion | Confirmed | link |
| Results disclosure (original text) | revenue30%: revenue ₩47.2 billion · operating profit ₩3.8 billion · net profit ₩6.5 billion | revenue30%: revenue ₩47.2 billion · operating profit ₩3.8 billion · net profit ₩6.5 billion | Confirmed | link |
| Outlook/plan disclosure (original text) | []: /(2025.11.04) 2025-11-04 1. 2. 2025-01-10 3. 4. | []: /(2025.11.04) 2025-11-04 1. 2. 2025-01-10 3. 4. | Confirmed | link |
| Outlook/plan disclosure (original text) | []: /(2025.08.12) 2025-08-12 1. 2. 2025-01-10 3. 4. | []: /(2025.08.12) 2025-08-12 1. 2. 2025-01-10 3. 4. | Confirmed | link |
| Forecast box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-05-15PeriodicQuarterly report
- 2026-03-27Shareholders' meeting notice
- 2026-03-20PeriodicAnnual business report (amended)
- 2026-03-19PeriodicAnnual business report
- 2026-03-19Audit report
- 2026-03-13Amended filing
- 2026-03-12Shareholders' meeting notice
- 2026-03-12Shareholders' meeting notice
- 2026-03-12EarningsEarnings filing
- 2026-03-12Shareholders' meeting notice
📖 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.