Curexo (060280) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Curexo earns money by making medical robots such as the joint-replacement surgical robot CUVIS-joint, the spinal surgical robot CUVIS-spine, and the gait-rehabilitation robot Morning Walk, and by distributing other companies' medical devices; after a robot is sold, recurring revenue builds from consumables and maintenance. In March 2026 its flagship surgical robot CUVIS-joint received US FDA 510(k) clearance, securing eligibility to sell in the US, and profit that turned from loss to gain pulled the forward P/E down to about half the trailing level, placing it on the low side even versus peer medical-robot companies. The point worth watching now is that if, on the strength of the FDA clearance, US installations and recurring consumables revenue rise and quarterly shipments stabilize, the profit recovery quickly becomes visible; whereas if installations are delayed and quarterly losses recur, or share dilution from convertible-bond conversion weighs, the recovery looks slow.
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 “Medical Devices & Healthcare” (Biotech & Pharmaceuticals), a type typically read first through forward P/E.
In medical devices and healthcare, growth hinges on regulatory approval and product adoption, and profits often lag during the early investment phase. So forward P/E, which reflects expected earnings, is the first lens. But in a loss-making year an earnings multiple breaks down, so the focus shifts to EV/Sales — enterprise value against revenue — to size the business against its scale.
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 34.2% 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 18.3% lower than a year earlier.
- ROE is 2.2% (total-net basis). It is above the sector average.
- Operating margin is 3.2%.
- A sector-metric and in-depth research verdict — see “Valuation vs peers” below for the basis.
Ownership & governance As of 2025-12-31
Largest shareholder hy 30.94% (corporate)
Controlling bloc incl. related parties 30.94%
With the controlling bloc holding 31%, the ownership structure is stable.
🔎 In-depth analysis Reading
Curexo is a company that earns money by making and distributing medical robots and medical devices. Its revenue splits broadly into three. First, sales of medical-robot units such as the surgical robot CUVIS-joint that assists joint-replacement surgery and CUVIS-spine for spinal surgery. Second, sales of rehabilitation medical devices such as Morning Walk, a rehabilitation robot that helps gait rehabilitation for stroke and spinal-cord-injury patients. Third, a medical-device distribution segment that brings in and sells other medical-device companies' products at home and abroad, providing a steady revenue base. Because additional revenue follows from consumables and maintenance used in each surgery even after a robot is sold, it is a business where recurring revenue builds as the installed base grows.
The latest close is ₩9,160 and the market capitalization is ₩377.9 billion. The price sits above its 20-day moving average (₩8,223) and below its 60-day moving average (₩10,024). 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 55.3, a neutral level. The one-month change is +7.8%, the three-month change is -42.6%, and the position relative to the 52-week high is -55.0%. Relative strength versus the KOSDAQ is 53 (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 53% of all stocks. Over the past three months it lagged the index by 9.1%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
On last year's confirmed results (2025), the P/E ratio (how many times per-share profit the share price is) is 136.31x and the P/B (how many times per-share net asset value the share price is) is 3.85x. The trailing (last twelve months' confirmed) P/E looks high in three digits, but this appears because the company had only just turned profitable in 2025, so the earnings base is still small. In a profit-inflection phase like this, future profit shows the true picture better than a single past year's figure. The forward (next twelve months') P/E reflecting the recovered profit flow comes down to 74.1x, about half the trailing level. On finances, the debt ratio is 5.1%, so debt roughly equals equity, but the current ratio (assets convertible to cash within a year against debts due within a year) exceeds 20x, so short-term funding conditions are ample. The ROE (return on equity over a year) is 2.9% and the operating margin 3.2%, so profitability is still at a low stage, as befits a first year of turning profitable, with room to rise as profit accumulates further.
Revenue grew from ₩42.8 billion in 2021 to ₩74.5 billion in 2025, and after briefly stalling at ₩55.5 billion in 2024, it jumped +34.2% versus the prior year in 2025 to return to a growth track. Above all, the bottom line changed markedly. Operating profit turned from a -₩5.8 billion loss in 2024 to a +₩2.4 billion gain in 2025, and net profit from a -₩8.8 billion loss to a +₩2.8 billion gain. This turn to profit came as the surgical-robot installed base built up, unit, consumables, and maintenance revenue rose together, and it passed the cost phase that had widened the loss. Extending the recovered profit flow, this year's forward P/E is 74.1x, much lower than trailing, a figure reflecting the picture of profit continuing to build after it once turned positive. Compared with peer medical-robot companies whose P/Es are formed in three digits, on a forward basis it is on the low side, read as a signal that the profit recovery is not fully reflected in the price. That said, Q1 2026 revenue was ₩16.1 billion, down 18.3% year on year, and operating profit was a -₩0.9 billion loss. The uneven-shipment-timing character of the business between quarters must be taken into account, and how installation and consumables revenue fill in over the remaining quarters will determine the actual size of this year's profit.
Recent disclosures read along two threads — earnings momentum and funding/stake burden. The biggest momentum is that in March 2026 the flagship surgical robot CUVIS-joint received US FDA 510(k) clearance, securing eligibility to sell in the US market — an event that opened the door to the world's largest medical-device market. Then in May a medical-device supply-contract disclosure appeared, showing sales activity continuing. Meanwhile, between April and May, disclosures related to convertible bonds (bonds that can later be converted into shares) came in succession, which carry two sides: raising funds while the future share count could rise and dilute existing shareholders' stakes. On May 21 it held an IR forum to explain business status and plans to investors directly.
The strengths are clear. In the high-barrier fields of surgical and rehabilitation robots, revenue has climbed back onto a growth track, and profit that turned from loss to gain pulled the forward P/E down to about half trailing, placing it, if anything, on the low side versus peer medical-robot companies. On top of this, US FDA clearance of its flagship product opened a path for overseas revenue to be added, and the share price sits well below its moving averages. In other words, the profit-recovery story of a turn to profit and overseas expansion is not yet fully reflected in the price. Points to examine are the unevenness of quarterly results and the convertible bonds. This company has clear strong and weak phases. On the strength of the FDA clearance, it is in a phase where the profit recovery quickly becomes visible if US installations and recurring consumables revenue actually rise and quarterly shipments stabilize; conversely, it is in a phase where the recovery looks slow if installations are delayed and quarterly losses recur, or if share dilution from convertible-bond conversion weighs. In the end, which way the installed base and quarterly revenue fill-in go is the point to watch.
🔎 Valuation vs peers Inconclusive
Instead of a retail/distribution industry code, the peer set is domestic listed companies closer to the actual business (medical-robot and medical-device manufacturing). Koh Young is a robot and medical-device company that develops brain-surgery robots alongside precision measurement, and i-SENS is a medical and precision-instrument company that makes blood-glucose meters and the like.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Koh Young Technology | 144.49x | 6.16x | 7.92% |
| i-SENS | — | 1.62x | -1.73% |
(a) Position versus the true peer set: a P/B of 4.53x is lower than robot/medical-device peer Koh Young (7.01x) and higher than i-SENS (1.51x), a midpoint between a medical-robot growth candidate and a general medical-device maker. (b) Premium/discount: revenue growth (34.2%) is faster than peers and there is the FDA-clearance catalyst, so some premium may be justified, but with an ROE of 2.9% the actual profitability still falls short of peers. (c) Limits of trailing and the forward basis: the confirmed prior-year P/E of 157x is computed on the small profit just after the turn to profit, exaggerating how expensive it is. For the future, with no official company figures, only revenue could be approximated via DART seasonality (about ₩61.6 billion), and profit cannot be approximated because of negative quarters. So it is hard to declare it simply cheap or expensive, and the judgment is held as inconclusive.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| Next quarter | Q2 2026 | approx. ₩15.2 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩9,160 and the market capitalization is ₩377.9 billion. The price sits above its 20-day moving average (₩8,223) and below its 60-day moving average (₩10,024). 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 55.3, a neutral level. The one-month change is +7.8%, the three-month change is -42.6%, and the position relative to the 52-week high is -55.0%. Relative strength versus the KOSDAQ is 53 (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 53% of all stocks. Over the past three months it lagged the index by 9.1%. 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 -9.08% / 6M -36.26% / 12M +7.91%
Key metrics Computed vs sector median
Valuation
The P/E of 136.31x is above the sector median (11.05x). The P/B of 3.85x is above the sector median (0.47x).
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.
Profitability & financials
Return on equity (ROE) is 2.2%, above the sector average (1.0%). The operating margin is 3.2%. The debt ratio is 6.1%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $51.2M | $39.0M | $52.4M | +34.22% ↑ faster |
| Operating profit | $797,652 | -$4.1M | $1.7M | — |
| Net profit | -$3.4M | -$6.2M | $1.9M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $30.1M | $45.7M | $51.2M | $39.0M | $52.4M |
| Operating profit | -$1.3M | $780,269 | $797,652 | -$4.1M | $1.7M |
| Net profit | -$1.6M | -$2.1M | -$3.4M | -$6.2M | $1.9M |
| Revenue CAGR | 4-yr avg 14.88% | ||||
Revenue rose 34.2% year over year (2023 ₩72.9 billion → 2024 ₩55.5 billion → 2025 ₩74.5 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 14.9%. The two-year revenue CAGR is 1.1%. In the most recent quarter (Q1 2026), revenue was 18.3% lower than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- Revenue grew 34.2% year over year, a sign of growth.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-03-26FilingSurgical robot CUVIS-joint obtained US FDA 510(k) clearance (other management matter, voluntary disclosure)A key medium-term catalyst. Eligibility to sell the flagship knee-joint surgical robot in the US was secured, becoming the starting point for overseas revenue expansion. But it takes time for clearance to translate into actual revenue and installed units, so subsequent supply results should be confirmed together. Source
- 2026-05-20UpdateSingle supply contract signedA short-to-medium-term revenue-visibility catalyst. The crux is how the contract scale and revenue-recognition timing feed through to subsequent quarterly results. Source
- 2026-05-20UpdateMaterial report (convertible-bond issuance decision), attachment correctionA medium-term point of caution. It is positive for fundraising but the future share count could rise and dilute per-share value, so the funding purpose and conversion terms should be viewed together. Source
- 2026-05-13EarningsQ1 2026 quarterly report filedA material confirming the results. Revenue ₩16.1 billion (-18.3%) and an operating loss of -₩0.9 billion show the quarter-to-quarter volatility. Source
- 2026-05-21IRInvestor relations (IR) event heldA short-term communication event. A forum where the company explains business status and plans to investors directly, a channel to confirm its official direction. Source
Figure cross-check computed ↔ external
Recent filings Source
- 2026-06-08OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-22Amended filing
- 2026-05-21Disclosure
- 2026-05-20Single supply/sales contract
- 2026-05-20Material-fact report (amended)
- 2026-05-13PeriodicQuarterly report
- 2026-04-30Disclosure
- 2026-04-24Disclosure
- 2026-04-22Material-fact report
- 2026-04-07Disclosure
- 2026-03-26Shareholders' meeting notice
- 2026-03-26Disclosure
📖 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.