Showbox (086980) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Showbox is a film and media company that funds good scripts and production houses (investment) and releases finished films to theaters and platforms to earn revenue from admissions and rights sales (distribution), so its quarterly results swing sharply with box-office hits. After confirming last year's loss with a full-year operating loss of ₩11.7 billion disclosed in February 2026, its first-quarter results disclosed in May confirmed a turn to profit — revenue of ₩78.9 billion, operating profit of ₩21.7 billion and net profit of ₩17.9 billion. What stands out is that low debt and the turn to profit read strongly together, and a 1.11x P/B is not heavy given the solid finances; but given the nature of distribution, whether the large first-quarter profit carries through the year's lineup needs to be confirmed against the release schedule and the next quarter's results.
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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 “Drama & Video Production” (Games, Entertainment & Content · Media, Content & Advertising), a type typically read first through forward P/E.
Drama and video production results swing with release schedules and hits, and profits often lag because of the gap between production spending and settlement timing. So forward P/E — reflecting expected earnings — is the first lens rather than past results.
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 fell 32.6% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 572.0% higher than a year earlier.
- ROE is -14.0% (total-net basis). It is below the sector average.
- Operating margin is -18.6%.
- 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 Orion Holdings 57.47% (corporate)
Controlling bloc incl. related parties 57.47%
With the controlling bloc holding 57%, control is very secure but the free float is thin.
🔎 In-depth analysis Reading
Showbox is a film and media company whose core business is film investment and distribution. It funds production costs for good scripts and production houses (investment), then releases the finished films to theaters and online platforms to earn revenue from admissions and rights sales (distribution). By nature, such a business tends to see quarterly results swing sharply depending on which title becomes a hit. Because the market capitalization is not large, it helps to keep in mind that a single hit or a single supply-contract disclosure can noticeably change that quarter's revenue and profit.
The latest close is ₩2,080 and the market capitalization is ₩129.9 billion. The price sits above its 20-day moving average (₩2,023) and below its 60-day moving average (₩2,310). 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 51.5, a neutral level. The one-month change is +1.7%, the three-month change is -30.2%, and the position relative to the 52-week high is -31.4%. Relative strength versus the KOSDAQ is 56 (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 56% of all stocks. Over the past three months it outpaced the index by 2.7%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Recent annual (2025) revenue was ₩62.7 billion, operating profit -₩11.7 billion and net profit -₩15.0 billion — a loss for the year. As a result, ROE (how much is earned in a year on equity) shows as -14.0% and the operating margin as -18.6%. The financial structure itself, however, is stable. The debt-to-equity ratio is a low 23.7%, and the current ratio (assets convertible to cash within a year versus debt due within a year) is 3.34x, leaving ample short-term liquidity. The P/E ratio (how many times a year's profit the share price represents) is not calculable because last year was a loss, and the P/B (how many times book value the share price represents) is 1.04x. What matters here is that the P/E is absent not because the stock is 'expensive' but because 'last year was a loss.' For a company like Showbox whose profit is turning from a loss to a gain, the picture after the swing to profit is closer to the real story than metrics built on last year's confirmed figures. A 1.11x P/B is also hard to call a heavy level given the low-debt, cash-rich balance sheet.
Over multiple years, revenue ran from ₩50.9 billion in 2021 to ₩62.7 billion in 2025, while operating profit swung between profit and loss. Film distribution naturally shows such swings, given the large gap between years crowded with hits and lean years. But in the most recent quarter, the first quarter of 2026, the trend clearly changed: revenue of ₩78.9 billion, operating profit of ₩21.7 billion and net profit of ₩17.9 billion — earning, in a single quarter, more than enough to cover the whole prior year's loss. Quarterly revenue was up 572.0% from the same period a year earlier, meaning admissions and rights revenue from a hit release were booked at once. On the back of this turn to profit, full-year 2026 revenue is drawn at about ₩202.9 billion, more than three times last year's ₩62.7 billion. That figure takes the confirmed first-quarter results — in which a hit actually landed — as its starting point and extends them to the full year, so it is rooted in what has already happened rather than vague expectation. In short, Showbox has passed a loss-making year and entered an inflection phase where the content lineup is reviving and profit is turning upward.
The disclosure flow also supports this inflection. On August 19, 2025, a single sale and supply contract (a correction) of ₩17.8 billion corresponded to 34.9% of recent revenue, and the contract amount and term link directly to future revenue recognition; whether it is a one-off or a repeatable transaction shapes the medium-term reading. The February 11, 2026 disclosure on profit-structure change confirmed last year's loss with annual revenue of ₩62.7 billion, an operating loss of ₩11.7 billion and a net loss of ₩15.0 billion. Then the May 15, 2026 quarterly report confirmed the turn to profit in numbers, with first-quarter 2026 revenue of ₩78.9 billion, operating profit of ₩21.7 billion and net profit of ₩17.9 billion. In effect a large profitable quarter followed immediately after the loss-confirming disclosure, so placing the two disclosures side by side makes the change of direction clear.
Showbox's strengths are clear. On a balance sheet with little debt and ample cash, a turn to profit that overturns last year's loss in a single quarter actually occurred in the first quarter, and full-year revenue is on a path to more than triple last year's. The price, reflecting last year's loss-making mood, is pressed well below the moving averages and the RSI is in a depressed zone, so the gap between results that have turned to profit and a pressed share price is the crux for this stock. A 1.11x P/B is not a heavy level given the solid finances, and the absence of a P/E is due not to being expensive but to the base year being a loss. A point to watch is the inherent nature of film distribution. Because quarterly results depend heavily on which title is released, it is natural to confirm — via the release schedule and the next quarter's results — whether the large first-quarter profit carries through the year's lineup. Whether a chunky transaction such as the ₩17.8 billion supply contract is one-off or recurring is likewise a dividing point for revenue durability. In a word, in a phase where the content lineup is reviving, low debt and the turn to profit read strongly together, while in a quarter without hits the earnings swings show through plainly.
🔎 Valuation vs peers Fairly valued
A peer set within film and media with adjacent market capitalization.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| The Pinkfong Company | 9.46x | 0.90x | 9.95% |
| SAMG Entertainment | 8.98x | 3.43x | 36.17% |
| CJ CGV | — | 2.27x | -25.22% |
Within film and media, a public-data peer set with nearby market capitalization was looked at first. The current P/E ratio (how many times a year's profit the share price represents) is not confirmable, and the P/B (how many times book value the share price represents) is 1.04x. That said, smaller-cap names are heavily affected by earnings swings and financing disclosures, so no conclusion was drawn from last year's confirmed-results metrics alone. The forecast box is based on a DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩202.9 billion | — | — |
| Next quarter | Q2 2026 | ₩37.9 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩2,080 and the market capitalization is ₩129.9 billion. The price sits above its 20-day moving average (₩2,023) and below its 60-day moving average (₩2,310). 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 51.5, a neutral level. The one-month change is +1.7%, the three-month change is -30.2%, and the position relative to the 52-week high is -31.4%. Relative strength versus the KOSDAQ is 56 (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 56% of all stocks. Over the past three months it outpaced the index by 2.7%. 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 +2.69% / 6M +17.52% / 12M -22.34%
Key metrics Computed vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 1.04x is above the sector median (0.70x).
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
The operating margin is -18.6%. The debt ratio is 68.2%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $28.2M | $65.4M | $44.1M | -32.61% ↓ slower |
| Operating profit | -$19.9M | $17.2M | -$8.2M | -147.51% |
| Net profit | -$21.3M | $19.3M | -$10.6M | -154.86% |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $35.8M | $39.8M | $28.2M | $65.4M | $44.1M |
| Operating profit | $1.4M | -$2.2M | -$19.9M | $17.2M | -$8.2M |
| Net profit | $1.6M | -$1.5M | -$21.3M | $19.3M | -$10.6M |
| Revenue CAGR | 4-yr avg 5.35% | ||||
Revenue fell 32.6% year over year (2023 ₩40.2 billion → 2024 ₩93.1 billion → 2025 ₩62.7 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 147.5% year over year. Over the 5 years on record, revenue compound annual growth (CAGR) is 5.3%. The two-year revenue CAGR is 25.0%. In the most recent quarter (Q1 2026), revenue was 572.0% 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.
- Revenue fell 32.6% year over year (3-year trend: mixed).
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2025-08-19Contract[Correction] Single sale and supply contract signed: contract amount ₩17.8 billion · 34.9% of recent revenueThe contract amount and term are key to future revenue recognition. Whether it is a one-off or a repeatable transaction shapes the medium-term reading. Source
- 2026-02-11EarningsChange of 30% or more (15% for large corporations) in revenue or profit structure: annual revenue ₩62.7 billion · operating profit -₩11.7 billion · net profit -₩15.0 billionThis is recent confirmed or preliminary results. Check whether it points in the same direction as the annual trend and whether there were one-off factors. Source
- 2026-05-15EarningsQuarterly report (2026.03): Q1 2026 revenue ₩78.9 billion · operating profit ₩21.7 billion · net profit ₩17.9 billionThis is recent confirmed or preliminary results. Check whether it points in the same direction as the annual trend and whether there were one-off factors. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩2,080 | ₩2,080 | Confirmed | link |
| Latest quarterly results | revenue ₩78.9 billion, operating profit ₩21.7 billion | revenue ₩78.9 billion, operating profit ₩21.7 billion | Confirmed | link |
| Annual results | revenue ₩62.7 billion, operating profit -₩11.7 billion | revenue ₩62.7 billion, operating profit -₩11.7 billion | Confirmed | link |
| Contract disclosure source text | [amended] single supply contract signed: contract value ₩17.8 billion · vs recent revenue 34.9% | [amended] single supply contract signed: contract value ₩17.8 billion · vs recent revenue 34.9% | Confirmed | link |
| Results disclosure source text | revenue30%: revenue ₩62.7 billion · operating profit -₩11.7 billion · net profit -₩15.0 billion | revenue30%: revenue ₩62.7 billion · operating profit -₩11.7 billion · net profit -₩15.0 billion | Confirmed | link |
| Results disclosure source text | (2026.03): 2026 1 revenue ₩78.9 billion · operating profit ₩21.7 billion · net profit ₩17.9 billion | (2026.03): 2026 1 revenue ₩78.9 billion · operating profit ₩21.7 billion · net profit ₩17.9 billion | Confirmed | link |
| Forecast box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-06-02Large-business-group status disclosure (amended)
- 2026-06-01Large-business-group status disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-03-27Disclosure
- 2026-03-26Shareholders' meeting notice
- 2026-03-24Disclosure
- 2026-03-18PeriodicAnnual business report
- 2026-03-18Audit report
- 2026-03-11Disclosure
- 2026-03-11Shareholders' meeting notice
- 2026-03-11Shareholders' meeting notice
- 2026-02-11EarningsEarnings 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.
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.