MEDIPOST (078160) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
MEDIPOST earns steady cash from a subscription-style business that stores newborns' cord blood long term, sells its knee-osteoarthritis stem-cell therapy Cartistem in Korea, and is running Phase 3 trials through its US subsidiary to win US approval for it, making it a research-and-development-centered company. On June 4 it decided on an additional ₩22.7 billion (about USD 15 million) investment in its US subsidiary, pressing ahead with the US Phase 3 trials; 2025 revenue rose +4.2%, but clinical investment widened the operating loss by about 40%, and the share price has fallen close to net-asset value, leaving the P/B in undervalued territory below peers. What stands out lately is that it is strong in phases where the cord-blood business's stable cash flow and low valuation against assets provide support and where trial success could add drug value, while the operating loss has widened for a fourth straight year and a burden falls on earnings and cash until trial results come in.
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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 “Pharmaceuticals (profitable)” (Biotech & Pharmaceuticals), a type typically read first through P/E.
Established, profit-generating drugmakers earn fairly steady revenue from prescriptions and product sales, which makes their earnings reasonably predictable. That is why price-to-earnings (P/E) — the share price set against current net income — is the first lens here.
Price against earnings alone becomes unstable when earnings swing. Reading it together with price against assets helps gauge the downside.
That said, profitability is currently weak, so this metric is best treated as a rough reference only.
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
- The most recent full-year net result was a loss.
- Revenue rose 4.2% year over year, and the pace is quickening (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 1.2% higher than a year earlier.
- ROE is -34.3% (controlling-interest basis). It is below the sector average.
- Operating margin is -92.3%.
- 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 SkyMedi 22.28% (corporate)
Controlling bloc incl. related parties 47.21%
With the controlling bloc holding 47%, the ownership structure is stable.
🔎 In-depth analysis Reading
MEDIPOST earns money along three broad lines. The first is the cord-blood business. Under contracts with parents, it cryogenically stores for the long term the blood (cord blood) drawn from a newborn's umbilical cord and placenta, holding it in trust for later use when treatment is needed, a subscription-style business in which storage contracts accumulate year by year and bring in steady revenue and cash, a stable pillar. The second is stem-cell therapies. Its flagship product, Cartistem, is an allogeneic stem-cell therapy used to treat knee osteoarthritis (cartilage damage) and is already sold in Korea. The third is the Phase 3 trials to win US market approval for that Cartistem, run through its US subsidiary MEDIPOST, Inc. In other words, it is accurately understood as a structure that lays a big challenge, a US drug trial, on top of a steadily earning storage business.
The latest close is ₩9,900 and the market capitalization is ₩388.1 billion. The price sits above its 20-day moving average (₩8,550) and below its 60-day moving average (₩10,692). 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 57.0, a neutral level. The one-month change is +9.9%, the three-month change is -62.8%, and the position relative to the 52-week high is -64.6%. Relative strength versus the KOSDAQ is 33 (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 32% of all stocks. Over the past three months it lagged the index by 43.9%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Being currently loss-making, the P/E (how many times one year's earnings the price is) cannot be computed. Instead the P/B (how many times the company's net assets the price is) is 1.61x, and given net assets per share (BPS) of ₩6,352, that means the price has fallen close to the value of its held assets. Compared with peer pharma-bio companies, which mostly sit in the 2-3x P/B range (CHA Biotech 2.29x, Kangstem Biotech 3.34x, Corestem-Chemon 2.03x), MEDIPOST's P/B is rather on the low side. Judged by the asset-value yardstick alone, it is in undervalued territory. That said, its profitability metrics are all negative. The ROE (the ratio of profit earned in a year to shareholders' equity) is -34.3% and the operating margin is -92.3%, the loss burden being large enough that the R&D spent on the US trial exceeds revenue. The debt ratio of 73.3% means debt is not small relative to equity, but the current ratio (assets convertible to cash within a year against debt due within a year) of 1.33x means immediate short-term repayment ability itself is maintained. The key is that this loss comes not from a broken business but from pouring money into a drug trial, so the signal the P/B creates, cheap against assets, must be read together with the fact the profit-and-loss shows, not yet profitable.
Revenue grew steadily over five years from ₩54.9 billion in 2021 to ₩73.7 billion in 2025 (an annual average of about 7.6%), a flow supported by the base cord-blood-storage business accumulating contracts each year. In the first quarter of 2026, too, revenue was ₩19.5 billion, up 1.2% from a year earlier, so growth itself continued. The operating loss, by contrast, widened progressively to -₩25.1 billion in 2023, -₩48.5 billion in 2024, and -₩68.0 billion in 2025, with a -₩16.9 billion loss again in the first quarter of 2026. This widening loss is not because revenue fell but because, as the US Cartistem Phase 3 trial went into full swing, R&D grew faster than the revenue gain. In other words, the company is at present not in a stage of growing profit but in a stage of concentrating spending toward a result, US drug approval. Where profit heads from this year on cannot be pinned to a number because the company issues no separate official outlook, and it is more honest to acknowledge this as is. In the end, the essence of growth lies less in the revenue growth rate itself than in how far the US Phase 3 trial progresses. For reference, on a multi-year trend there is no confirmed basis to view next year's and later profit direction as lower than this year's.
The weightiest recent disclosure is the 2026-06-04 decision on an additional ₩22.7 billion (about USD 15 million) investment in its US subsidiary MEDIPOST, Inc. A decision to fund R&D for Cartistem's US Phase 3 trial, it shows the company continuing to press its US drug challenge. At the same time it means this much money flows back into the trial, so it reads as a short-term profit-and-loss burden and, over the medium-to-long term, as a foundation for trial progress. The 2026-02-23 results disclosure confirmed that 2025 revenue rose (+4.2%) while the operating loss widened about 40% year on year, again showing that the cause of the loss lies in clinical investment. The 2026-05-15 first-quarter report confirms this flow continued into 2026, and the 2026-04-24 IR (investor briefing) was where the company explained trial progress directly to investors.
This stock plainly has two sides at once. Starting with the strong side, the stable cash cow of cord-blood storage supports revenue each year, and the share price has fallen close to held net-asset value, leaving the P/B in undervalued territory below peers. Add that if the Cartistem US Phase 3 trial proceeds successfully, a picture becomes possible in which drug value is layered on top of asset value. In other words, from a spot that is not expensive even on assets alone, it holds an added upside driver in the trial. On the weak side, the loss continues because of trial costs until the company turns profitable. The operating loss has widened for a fourth straight year, and to cover it the company keeps investing funds into its US subsidiary, so a burden falls on earnings and cash until trial results come in. In sum, it is strong in phases where the cord-blood business's stable cash flow and low valuation against assets provide support, and weak in phases where the US trial is delayed or additional funding needs drag on. The conclusion, since the trial's success or failure sways value greatly, is that it makes sense to view it as a stock to watch alongside both its strengths and burdens while confirming trial progress.
🔎 Valuation vs peers Inconclusive
Rather than the broad pharma-bio sector, the comparison was narrowed to the actual business of cell therapies (stem cells), directly comparing peer companies whose in-site data can be confirmed.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Anterogen | — | 2.03x | -1.57% |
| CHA Biotech | — | 1.68x | -36.07% |
| Corestem-Chemon | — | 2.31x | -48.63% |
Against the cell-therapy peer group, MEDIPOST's P/B (1.65x) sits clearly on the low side, so on an asset basis it looks like discount territory. However, (a) all of these companies are net-loss-making, so an earnings-based comparison (P/E) does not hold; (b) much of the P/B gap comes from differing expectations for each firm's in-progress clinical pipeline; and (c) because last year's confirmed (trailing) loss is intended-investment in nature (US trial costs), there is no company-official figure to gauge forward profit-and-loss. So rather than committing to cheap or expensive, both sides must be viewed together: as trial progress becomes visible there is room to fill the asset discount, while if the trial is delayed accumulated losses could shrink net assets and dilute the P/B appeal. The overall judgment, with the trial variable dominant, is that Inconclusive is appropriate.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| Next quarter | Q2 2026 | approx. ₩18.5 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩9,900 and the market capitalization is ₩388.1 billion. The price sits above its 20-day moving average (₩8,550) and below its 60-day moving average (₩10,692). 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 57.0, a neutral level. The one-month change is +9.9%, the three-month change is -62.8%, and the position relative to the 52-week high is -64.6%. Relative strength versus the KOSDAQ is 33 (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 32% of all stocks. Over the past three months it lagged the index by 43.9%. 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 -43.91% / 6M -45.85% / 12M -8.27%
Key metrics Computed vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 1.61x is above the sector median (1.10x).
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 -34.3%, below the sector average (1.0%). The operating margin is -92.3%. The debt ratio is 139.9%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $48.2M | $49.6M | $51.7M | +4.25% ↑ faster |
| Operating profit | -$17.7M | -$34.1M | -$47.8M | — |
| Net profit | $4.1M | -$43.9M | -$60.0M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $38.5M | $45.1M | $48.2M | $49.6M | $51.7M |
| Operating profit | -$3.7M | -$12.2M | -$17.7M | -$34.1M | -$47.8M |
| Net profit | -$479,993 | $2.2M | $4.1M | -$43.9M | -$60.0M |
| Revenue CAGR | 4-yr avg 7.65% | ||||
Revenue rose 4.2% year over year (2023 ₩68.6 billion → 2024 ₩70.7 billion → 2025 ₩73.7 billion), and the three-year trend is 'rising'. The pace of growth also quickened from the prior year. Operating results are in the red, so a swing back to profit matters more than the growth rate here. Over the 5 years on record, revenue compound annual growth (CAGR) is 7.6%. The two-year revenue CAGR is 3.6%. In the most recent quarter (Q1 2026), revenue was 1.2% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- —
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-06-04FilingDecided an additional ₩22.7 billion (USD 15 million) investment in its US subsidiary MEDIPOST, Inc. For Cartistem US Phase 3 R&D and operating funds; stake 100% after acquisition, payment due 2026-06-30, 9.1% of equity.Confirms the company's continued will to invest in the US drug trial. That said, the investment flows back into R&D and again lands in the loss, so a short-term profit-and-loss burden continues (over the medium term, trial progress is the crux). Source
- 2026-02-23Earnings2025 consolidated confirmed results, profit-and-loss structure change: revenue ₩73.66 billion (+4.2%), operating loss -₩67.98 billion (loss widened 40%), net loss -₩85.99 billion. Per the company, the cord-blood-bank segment posted record revenue while expanded R&D from the full-scale US Cartistem Phase 3 trial caused the loss.The company itself confirms a structure where the core business (cord blood) grows but the loss deepens on trial costs. Revenue stability is a positive; the timing of profit recovery is subordinate to trial progress. Source
- 2026-05-15UpdateFirst-quarter 2026 report. Revenue ₩19.46 billion (+1.2%), operating loss -₩16.85 billion, with the loss trend continuing.The first confirmed material for checking whether 2025's pattern of revenue growth with continued loss carries into 2026. A signal of profit recovery is not yet confirmed. Source
- 2026-04-24IRHeld an investor briefing (IR). The company explained its business and trial progress directly to investors.A progress-sharing venue through an official channel, a place to confirm US-trial and cord-blood-business trends. No separate numeric official outlook material was confirmed. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| 2025 annual revenue | ₩73.7 billion | ₩73,656,891,468 | Confirmed | link |
| 2025 annual operating result | -₩68.0 billion | -₩67,983,786,233 | Confirmed | link |
| Shareholders' equity | ₩249.0 billion | ₩249,906,753,882 | Confirmed | link |
| P/B | 1.65x | approx. 1.65x | Confirmed | link |
| 2026 annual revenue (approximation) | approx. ₩75.7 billion | — | Unverified | link |
Recent filings Source
- 2026-06-04Disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-04-24Disclosure
- 2026-03-27Shareholders' meeting notice
- 2026-03-20Shareholders' meeting notice
- 2026-03-19PeriodicAnnual business report
- 2026-03-19Audit report
- 2026-03-16Disclosure
- 2026-03-12Disclosure
- 2026-03-12Shareholders' meeting notice
- 2026-03-12Shareholders' meeting notice
- 2026-02-23EarningsEarnings 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.
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