Woojoo Electronics is a components maker of connectors that link electronic devices to circuit boards. Its IT division makes ultra-precision connectors and flexible flat cables (FFC) for smartphones and displays, while its AD division makes automotive connectors, with production bases in Korea, Vietnam, and China, so revenue moves with smartphone, panel, and vehicle production volumes. In February 2026 the company declared a year-end dividend of ₩350 per share, and its March annual report confirmed 2025 results (revenue ₩186.4 billion, operating profit ₩21.8 billion, net profit ₩21.6 billion); however, its May Q1 quarterly report showed operating profit down 31.1% year on year, so the quarterly trend needs checking. The point worth watching is that revenue and profit, which had once dipped, returned to a recovery track in 2024–2025, and a trailing P/E of about 12.9x, a P/B of 1.06x, and a forward P/E of around 7.90x sit below the peer median, with stable liquidity and a 1.0% dividend adding to the appeal; the flip side is that revenue is sensitive to end-market demand, so quarterly operating profit can swing.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt ratio, current ratio and interest burden all look healthy.
- Revenue rose 5.8% year over year, and the pace is slowing (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 0.4% lower than a year earlier.
- ROE is 8.2% (controlling-interest basis). It is above the sector average.
- Operating margin is 11.7%.
- The forward P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Noh Young-baek 22.84% (individual)
Controlling bloc incl. related parties 32.87%
With the controlling bloc holding 33%, the ownership structure is stable.
🔎 In-depth analysis
- Woojoo Electronics is a components company that earns its living making connectors that link electronic devices to circuit boards.
- It has two main branches: the IT division makes ultra-precision connectors for smartphones and displays (board-to-board connectors, flexible printed circuit (FPC) connectors, memory connectors, and the like) and flexible flat cables (FFC), while the AD division makes automotive connectors that go into cars.
- With production bases in Korea, Vietnam, and China, revenue moves with the production volumes of smartphones, display panels, and finished vehicles.
- Founded in 1993, the company listed on KOSDAQ in 2004; the founding family holds about 31.8% and treasury shares account for about 13%.
- The latest close is ₩26,800 and the market cap is ₩247.6 billion.
- The price sits below its 20-day line (₩32,270) and its 60-day line (₩36,838).
- Trading below both the short- and mid-term moving averages, the trend is on the soft side.
- RSI (a supplementary gauge that scores the balance of up-days and down-days over the past 14 days on a 0–100 scale) is 34.4, a neutral reading.
- The price is down 29.8% over one month and up 9.4% over three months, and sits 43.7% below its 52-week high.
- Relative strength versus KOSDAQ is 73 (on a 1–99 scale, computed from returns against the index over the past year with more weight on recent performance; higher means stronger than the market), placing it in roughly the top 26% of all stocks by strength.
- Over the past three months it has outpaced the index by 40.4%.
- Chart readings are best viewed alongside trading volume and disclosure dates.
- On a confirmed annual (2025) basis, the P/E ratio (how many times one year's profit the price represents) is about 12.9x and the P/B (how many times net assets the price represents) is 0.94x.
- Both are below the electronic-component industry median (P/E 28.95x, P/B 2.36x).
- The forward P/E on this year's profit is also around 14x, so on either a trailing or a this-year basis the price sits cheaper than the industry relative to earnings.
- Profitability holds up, with an ROE (how much is earned in a year on equity) of 8.2%, above the industry average (7.0%), and an operating margin of 11.7%, sound for a components maker.
- The debt ratio (debt relative to equity) of 131.5% looks high on paper, but with a current ratio of 296.7% (liquid assets about three times the debt due within a year) and an interest-coverage ratio of 3.2x, short-term solvency and interest coverage are comfortable.
- On balance, the valuation leans toward appeal rather than burden, and financial stability supports it.
- Five-year revenue slid from ₩205.7 billion in 2021 to ₩187.2 billion in 2022 and ₩159.9 billion in 2023, then climbed back to ₩176.2 billion in 2024 and ₩186.4 billion in 2025 (a two-year CAGR of +8.0%) — a phase of bottoming out and recovering.
- Profit recovered by a wider margin: operating profit rose from ₩8.0 billion in 2023 to ₩20.1 billion in 2024 and ₩21.8 billion in 2025 (up 8.4% year on year), and net profit swelled from ₩5.6 billion in 2023 to ₩21.6 billion in 2025.
- The driver is clear: demand for ultra-precision connectors for smartphones and displays revived, and automotive connectors settled in as a new revenue pillar, lifting both the top line and margins.
- The forward P/E forming around 14x reflects the picture of this recovery carrying into this year's profit.
- That said, the most recent quarter, Q1 2026, showed revenue of ₩49.3 billion (down 0.4%) and operating profit of ₩4.6 billion (down 31.1%), with the operating line falling and only net profit rising to ₩6.8 billion (up 15.4%).
- Because there are quarter-to-quarter swings tied to end-market production volumes, whether the recovery continues steadily each quarter is best confirmed through quarterly results.
- Disclosures over the past year center on regular reports and dividend decisions.
- On February 9, 2026 the company declared a year-end dividend of ₩350 per share (a 1.0% dividend yield at market price, ₩2.81 billion in total), continuing its shareholder-return stance, and on March 16 its annual report confirmed 2025 results (revenue ₩186.4 billion, operating profit ₩21.8 billion, net profit ₩21.6 billion).
- On March 24 the annual general meeting approved the financial statements and the dividend proposal.
- On May 15 the quarterly report disclosed Q1 2026 results, where operating profit fell year on year, so the quarter-by-quarter trend needs checking.
- No separate disclosures such as single-sale or supply contracts or future business plans were found, so the direction of revenue and profit is tracked through regular reports.
- The strengths are clear: revenue and profit that had once dipped returned to a recovery track in 2024–2025, and a trailing P/E of about 12.9x and a P/B of 1.06x, with a forward P/E of around 14x, all sit below the peer median.
- In other words, even as profit recovers, the price sits cheap relative to earnings and assets, meeting the conditions that could be read as 'undervalued.' Stable liquidity and interest coverage, plus a maintained cash dividend of around 1.0% a year, add to that.
- The point to watch comes from the business structure: revenue is swayed by the production volumes of smartphones, displays, and finished vehicles, making it sensitive to end-market demand, and quarterly operating profit can swing accordingly (Q1 2026 operating profit down 31.1% is one example).
- In short, as end-market demand holds up and quarterly profit continues its recovery track, the appeal of the low valuation sharpens, while in phases where the end market slows, earnings volatility shows through.
🔎 Valuation vs peers Fairly valued
Stocks close in business substance (connector and electronic-component manufacturing) were used as the peer set. Korea Electric Terminal (025540), a specialist in connectors and terminals, is the most direct comparison, while Jahwa Electronics (033240), a maker of mobile electronic components, overlaps in end markets. Figures were computed with the site's common formula (based on the current price).
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Korea Electric Terminal | 6.33x | 0.58x | 9.13% |
| Jahwa Electronics | 11.92x | 1.26x | 10.60% |
Compared with the overall industry median, the P/E and P/B look cheap, but compared with Korea Electric Terminal, whose business is the closest, the P/E and P/B are actually higher. In other words, 'undervalued versus the industry' and 'a premium versus the direct peer' coexist, making it hard to conclude in either direction. On top of that, the current P/E is based on profit already earned last year (trailing), and with Q1 2026 operating profit down 31%, profit may be at an inflection point, so a judgment on trailing P/E alone has its limits. Applying this year's operating profit gauged by seasonality (about ₩22.9 billion) as a forward figure lowers the multiple somewhat, but that is an approximation rather than a company outlook and is hard to use as definitive grounds. On balance, rather than declaring it 'undervalued,' it is seen as within a fair range, with whether quarterly profit recovers being the turning point for any re-valuation.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| Next quarter | Q2 2026 | approx. ₩45.1 billion | approx. ₩4.8 billion | approx. ₩5.2 billion |
Price history Close · MA20 · MA60
The latest close is ₩26,800 and the market capitalization is ₩247.6 billion. The price sits below its 20-day moving average (₩32,270) and below its 60-day moving average (₩36,838). 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 34.4, a neutral level. The one-month change is -29.8%, the three-month change is +9.4%, and the position relative to the 52-week high is -43.7%. Relative strength versus the KOSDAQ is 73 (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 74% of all stocks. Over the past three months it outpaced the index by 40.4%. 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 +40.40% / 6M -7.15% / 12M -20.31%
Key metrics vs sector median
Valuation
The P/E of 11.48x is below the sector median (18.61x). The P/B of 0.94x is below the sector median (1.63x). 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 10.0%→terminal 2.0%, 10-yr forecast, earnings-based. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 8.2%, above the sector average (7.0%). The operating margin is 11.7%. The debt ratio is 131.5%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $106.0M | $116.8M | $123.6M | +5.81% ↓ slower |
| Operating profit | $5.3M | $13.3M | $14.5M | +8.37% ↓ slower |
| Net profit | $3.7M | $13.2M | $14.3M | +8.49% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $136.3M | $124.1M | $106.0M | $116.8M | $123.6M |
| Operating profit | $16.1M | $11.8M | $5.3M | $13.3M | $14.5M |
| Net profit | $11.1M | $8.1M | $3.7M | $13.2M | $14.3M |
| Revenue CAGR | 4-yr avg -2.43% | ||||
Revenue rose 5.8% year over year (2023 ₩159.9 billion → 2024 ₩176.2 billion → 2025 ₩186.4 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit rose 8.4% year over year. The pace of that profit growth is gradually easing. Over the 5 years on record, revenue compound annual growth (CAGR) is -2.4%. The two-year revenue CAGR is 8.0%. In the most recent quarter (Q1 2026), revenue was 0.4% 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 balance sheet is stable in terms of debt and liquidity.
Points to watch
- Revenue rose 5.8% year over year, and the pace is slowing (3-year trend: rising).
Recent news & events searched · sourced
- 2026-05-15EarningsQ1 2026 quarterly report filed. Revenue ₩49.3 billion (down 0.4%), operating profit ₩4.6 billion (down 31.1%), net profit ₩6.8 billion (up 15.4%).Short term: operating profit fell sharply year on year, a sign of weakening earnings momentum. Net profit rose on non-operating factors, so the quality of earnings needs to be checked separately. Source
- 2026-03-16Filing2025 annual report filed. Full-year revenue confirmed at ₩186.4 billion, operating profit ₩21.8 billion, net profit ₩21.6 billion.Medium term: a baseline confirming the recovery trend (2023 trough to ₩21.8 billion in operating profit in 2025). Subsequent quarterly results are judged against this baseline. Source
- 2026-02-09DividendYear-end cash dividend declared. ₩350 per share (a 1.0% dividend yield at market price, ₩2.81 billion in total), record date 2025-12-31, payment scheduled 2026-04-23.Short term: a comfortable level of return with a payout ratio of about 13%. Supports stable cash flow and a shareholder-return stance. Source
- 2026-03-24FilingAnnual general meeting results disclosed. Approval of the financial statements and the dividend proposal, among other agenda items.Medium term: routine procedures on dividend payment and governance finalized. Any change in new business direction needs separate confirmation. Source
- 2025-11-14EarningsQ3 2025 quarterly report filed. Nine-month cumulative results reviewed to check the annual recovery trend.Medium term: an interim checkpoint confirming the process of annual results climbing back up. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Dividend per share (DPS) | ₩350 | ₩350 | Confirmed | link |
| Q1 2026 operating profit | ₩4.6 billion | approx. ₩4.6 billion (₩4,627,455,004) | Confirmed | link |
| 2025 full-year operating profit | ₩21.8 billion | approx. ₩21.8 billion (₩21,809,545,822) | Confirmed | link |
| Latest closing price | ₩26,800 | — | Unverified | link |
| Seasonality-approximated full-year operating profit | ₩22.9 billion | — | Unverified | link |
Recent filings
- 2026-05-15PeriodicQuarterly report
- 2026-03-24Shareholders' meeting notice
- 2026-03-16Audit report
- 2026-03-16PeriodicAnnual business report
- 2026-03-09Shareholders' meeting notice
- 2026-03-09Disclosure
- 2026-02-10DividendCash/stock dividend decision (amended)
📖 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.