Megastudy (072870) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Megastudy is a holding-type company that bundles publishing, catering, leisure, and investment businesses around a core of online and offline education services, so the education core's flow plus food, leisure, and investment gains and losses determine overall results. A March 2026 filing confirmed annual revenue of ₩127.3 billion, operating profit of ₩20.5 billion, and net profit of ₩27.3 billion, and with net profit up 69.5% for the year and 94.7% in the most recent quarter, it kept solid profitability of an 8.1% ROE and a 16.1% operating margin along with a payout ratio in the 51% range and a dividend yield of 10.6%. What stands out lately is that when the top line grows again and quarterly profit steadily supports it, the undervaluation of a 5.44x P/E and a 0.44x P/B and the thick dividend appeal show through strongly, but if the top-line slowdown - revenue down slightly from a year earlier - drags on, the profit texture of a holding-type structure bundling several businesses has to be examined more carefully.
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 “Education” (Retail, Consumer Goods & Food · Leisure, Travel & Education), a type typically read first through P/E.
Education companies tend to earn fairly steady sales and profits on the back of recurring spending such as tuition and subscriptions. That makes price-to-earnings (P/E) — the share price against earnings — the first lens.
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 fell 5.2% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 4.3% lower than a year earlier.
- ROE is 9.3% (controlling-interest basis). It is above the sector average.
- Operating margin is 16.2%.
- 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 Son Ju-eun 32.08% (individual)
Controlling bloc incl. related parties 38.94%
With the controlling bloc holding 39%, the ownership structure is stable.
🔎 In-depth analysis Reading
Megastudy is a holding-type company that bundles, around a core of online and offline education services, publishing/printing/book distribution, cram-school group catering and cafeteria operations, leisure such as golf courses, and investment and other businesses like affiliate management advisory, fund investment, and leasing. The main streams that make money are education and its attached publishing, with the catering, leisure, and investment segments adding profit. Because several businesses sit inside one company, overall results are determined by the education core's flow plus food, leisure, and investment gains and losses.
The latest close is ₩13,200 and the market capitalization is ₩157.4 billion. The price sits above its 20-day moving average (₩12,974) and above its 60-day moving average (₩12,920). It holds above both its short- and medium-term moving averages, so the trend looks healthy. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 56.8, a neutral level. The one-month change is -1.8%, the three-month change is +0.7%, and the position relative to the 52-week high is -3.0%. Relative strength versus the KOSDAQ is 82 (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 83% of all stocks. Over the past three months it outpaced the index by 49.1%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Recent annual revenue was ₩127.3 billion, operating profit ₩20.5 billion, and net profit ₩27.3 billion, producing an operating margin of 16.1% and a net margin of 21.5%. ROE (how much is earned in a year on shareholders' equity) is 8.1%, above the peer average, and the core margin is solid too. The P/E (how many times a year's profit the share price is) is 5.76x and the P/B (how many times book value the share price is) is 0.48x, both on the low side within the same sector. In particular, a 0.44x P/B means it trades at less than half the net assets the company holds, so the share price is cheap relative to assets. The debt-to-equity ratio is 63%, but with an interest coverage ratio of 3.1x, operating profit amply covers interest. The forward P/E reflecting the coming year's profit falls well below the 5.44x on last year's confirmed results, so the picture is one of the valuation getting cheaper as profit grows.
Revenue jumped from ₩107.8 billion in 2023 to ₩134.3 billion in 2024, then paused at ₩127.3 billion in 2025, so the top line is mixed. Net profit, by contrast, clearly improved to ₩27.3 billion in 2025, up 69.5% from the prior year, and in the first quarter of 2026 net profit was ₩5.8 billion, up 94.7% from the same period a year earlier, so the profit recovery continued. That net profit jumps sharply even as revenue dips slightly is a signal that cost efficiency and investment- and asset-related gains and losses improved, an earnings inflection (the point where profit turns direction). The forward P/E reflecting this trend is very low versus peers, showing the share price has not kept up with the strengthened earnings capacity. That said, this 2.28x partly reflects the company's characteristic of large quarterly earnings volatility, so whether quarterly results steadily support it is a point to keep confirming.
On March 27, 2026, a corporate value-up plan (voluntary disclosure) set out the company's own direction to lift shareholder value, and on March 12 a results-change filing confirmed annual revenue of ₩127.3 billion, operating profit of ₩20.5 billion, and net profit of ₩27.3 billion, locking in the year's grades. The March 25 ex-dividend filing is a schedule tied to cash returns, showing that, together with a payout ratio reaching 51%, a policy of returning earned profit to shareholders continues. Whether the value-up plan the company put forward and the actual results and returns interlock in the same direction is the point to watch going forward.
The strengths are clear. With a 5.44x P/E and a 0.44x P/B, and the forward P/E falling, it sits in undervalued territory where the share price is cheap relative to profit, and with net profit up 69.5% for the year and 94.7% in the most recent quarter, the profit recovery is alive. Profitability is favorable too, at an 8.1% ROE and a 16.1% operating margin, and returns are thick, with a payout ratio in the 51% range and a dividend yield of 10.6%. A P/B below even half the value of assets serves as a safety cushion on the asset-value side. Meanwhile, revenue slipped slightly from a year earlier, so top-line growth is pausing, and as a holding-type structure bundling several businesses, quarterly profit gaps can arise, points to view together. In sum, it is a stock where the undervaluation and high-dividend appeal show through strongly when the top line grows again and quarterly profit steadily supports it, and where the profit texture has to be examined more carefully if the top-line slowdown drags on.
🔎 Valuation vs peers Undervalued
A peer set of publicly available data on publishing-sector companies with adjacent market caps.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Megastudy | 5.76x | 0.48x | 9.26% |
Within publishing, we first looked at a peer set of publicly available data with adjacent market caps. The current P/E (how many times a year's profit the share price is) is 5.76x and the P/B (how many times book value the share price is) is 0.48x. That said, for lower-market-cap names, profit swings and financing disclosures have a large effect, so we did not conclude on last year's confirmed-results metrics alone. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩124.7 billion | ₩10.2 billion | ₩64.6 billion |
| Next quarter | Q2 2026 | ₩35.0 billion | ₩4.1 billion | ₩25.2 billion |
Price history Close · MA20 · MA60
The latest close is ₩13,200 and the market capitalization is ₩157.4 billion. The price sits above its 20-day moving average (₩12,974) and above its 60-day moving average (₩12,920). It holds above both its short- and medium-term moving averages, so the trend looks healthy. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 56.8, a neutral level. The one-month change is -1.8%, the three-month change is +0.7%, and the position relative to the 52-week high is -3.0%. Relative strength versus the KOSDAQ is 82 (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 83% of all stocks. Over the past three months it outpaced the index by 49.1%. 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 +49.13% / 6M +65.92% / 12M +18.68%
Key metrics Computed vs sector median
Valuation
The P/E is 5.76x. The P/B of 0.48x is in line with the sector median (0.45x). 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.
Profitability & financials
Return on equity (ROE) is 9.3%, above the sector average (7.0%). The operating margin is 16.2%. The debt ratio is 63.0%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $75.7M | $94.3M | $89.4M | -5.20% ↓ slower |
| Operating profit | $7.3M | $16.7M | $14.4M | -13.61% ↓ slower |
| Net profit | $15.2M | $11.3M | $19.2M | +69.51% ↑ faster |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $93.9M | $85.4M | $75.7M | $94.3M | $89.4M |
| Operating profit | $11.2M | $8.6M | $7.3M | $16.7M | $14.4M |
| Net profit | $17.9M | $13.4M | $15.2M | $11.3M | $19.2M |
| Revenue CAGR | 4-yr avg -1.21% | ||||
Revenue fell 5.2% year over year (2023 ₩107.8 billion → 2024 ₩134.3 billion → 2025 ₩127.3 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 13.6% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is -1.2%. The two-year revenue CAGR is 8.7%. In the most recent quarter (Q1 2026), revenue was 4.3% lower than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- The dividend yield, at 10.0%, is on the high side.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- Revenue fell 5.2% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2026-03-27UpdateCorporate value-up plan (voluntary disclosure): original company plan text confirmedThis is planning material the company put forward directly. If it contains figures, treat it as primary evidence for the outlook box; if not, treat it only as directional material. Source
- 2026-03-12EarningsChange of 30% or more in revenue or profit-and-loss structure (15% for large corporations): annual revenue ₩127.3 billion, operating profit ₩20.5 billion, net profit ₩27.3 billionThis is recent confirmed or preliminary results material. Check whether it points the same way as the annual trend and whether there are one-off factors. Source
- 2026-03-25UpdateEx-dividend: return conditions confirmedThis is a filing related to cash returns or a change in share count. Confirm whether earnings strength and cash flow support it. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩13,200 | ₩13,200 | Confirmed | link |
| Most recent quarterly results | revenue ₩27.6 billion, operating profit ₩1.5 billion | revenue ₩27.6 billion, operating profit ₩1.5 billion | Confirmed | link |
| Annual results | revenue ₩127.3 billion, operating profit ₩20.5 billion | revenue ₩127.3 billion, operating profit ₩20.5 billion | Confirmed | link |
| Original outlook/plan filing text | — | — | Confirmed | link |
| Original results filing text | revenue30%: revenue ₩127.3 billion · operating profit ₩20.5 billion · net profit ₩27.3 billion | revenue30%: revenue ₩127.3 billion · operating profit ₩20.5 billion · net profit ₩27.3 billion | Confirmed | link |
| Original shareholder-return filing text | check the payout terms | check the payout terms | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-15PeriodicQuarterly report
- 2026-04-28Disclosure
- 2026-03-27Disclosure
- 2026-03-27Disclosure
- 2026-03-27Shareholders' meeting notice
- 2026-03-25Dividend disclosure
- 2026-03-19PeriodicAnnual business report
- 2026-03-19Audit report
- 2026-03-12Shareholders' meeting notice
- 2026-03-12DividendCash/stock dividend decision
- 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.