Bixolon (093190) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Bixolon makes printing and output peripherals such as receipt, label, and mobile printers and sells them at home and abroad, with point-of-sale registers, logistics and shipping labels, and handheld printers as its mainstays, so its revenue moves with the economy, consumption, and logistics flows. In February 2026 it confirmed annual revenue of ₩133.5 billion, operating profit of ₩15.9 billion, and net profit of ₩18.3 billion, and declared a dividend the same day; with revenue, operating profit, and net profit all accelerating, it combines a sub-1x P/B, a low forward P/E, a 4.2% dividend yield, and a 492% current ratio. The point to note is that, if the profit improvement continues as it has, growth, undervaluation, a high dividend, and a stable balance sheet sit together in one stock and it is strong in the direction of the price following company value; but because market cap is small, a single quarterly stumble or the drop-out of a one-off factor can make the swings in the numbers look large.
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 “IT Hardware & Equipment” (Semiconductors & IT Components), a type typically read first through forward P/E.
IT hardware and equipment makers see orders and earnings swing with their customers' investment cycles and new-product launches, so what matters is the profit still to come, not the profit already booked. That is why forward P/E, based on expected earnings, 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.
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 17.6% year over year, and the pace is quickening (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 35.3% higher than a year earlier.
- ROE is 11.6% (controlling-interest basis). It is above the sector average.
- Operating margin is 14.2%.
- 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 IDIS Holdings 42.66% (corporate)
Controlling bloc incl. related parties 47.6%
With the controlling bloc holding 48%, the ownership structure is stable.
🔎 In-depth analysis Reading
Bixolon makes printing and output peripherals such as receipt, label, and mobile printers and sells them at home and abroad. Because its mainstays are equipment actually used on the ground in industry, such as point-of-sale registers, logistics and shipping labels, and handheld printers carried in the field, revenue moves with the economy, consumption, and logistics flows. At ₩149.3 billion, market cap is not large, so it is better to watch how individual filings such as quarterly results and dividends affect the numbers alongside the flow of the business itself.
The latest close is ₩8,600 and the market capitalization is ₩165.5 billion. The price sits above its 20-day moving average (₩8,294) and above its 60-day moving average (₩8,018). 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 58.8, a neutral level. The one-month change is +7.5%, the three-month change is +7.9%, and the position relative to the 52-week high is -1.9%. Relative strength versus the KOSDAQ is 86 (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 87% of all stocks. Over the past three months it outpaced the index by 58.6%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Recent annual revenue is ₩133.5 billion, operating profit ₩15.9 billion, and net profit ₩18.3 billion, giving an operating margin of 11.9% and a net margin of 13.7%. ROE (how much is earned in a year on equity) is 9.3%, above the sector average, and while the debt ratio (debt versus equity) is 137.4%, the current ratio (cash-like assets against debt due within a year) is a very ample 492%, so the short-term repayment burden is small. The current P/E ratio (how many times one year's earnings the share price is) is 9.04x and P/B (how many times book value the share price is) is 0.82x. A P/B below 1x means the share price is set cheaper than the company's own net assets, and in a phase of fast-rising earnings the forward P/E on this year's profit gives a more accurate picture than the P/E computed on last year's results. That forward P/E is well below sector peers, so the current metrics look less like a burden and more like a signal of undervaluation.
Revenue grew from ₩108.1 billion in 2023 to ₩113.5 billion in 2024 and ₩133.5 billion in 2025, with the growth rate quickening from +5.0% to +17.6%. Over the same period operating profit rose +68.8% (a two-year average of +31.0%) and net profit +37.2%, with earnings growing faster than revenue, meaning the effect of spreading fixed costs as the top line expanded worked together with a rising share of higher-margin products. In the most recent quarter (Q1 2026), revenue rose +35.3% year over year while operating profit jumped +390.5% and net profit +299.5%, showing it has entered an inflection where earnings level up in earnest. This year's expected profit is an extension of that flow, and because the demand recovery and margin improvement were already confirmed in Q1 results, the forward P/E is well grounded. There is also no confirmed basis to expect next year to come in below this year, so it is not at a stage to declare this a cycle peak.
On March 20, 2026 the company itself put out a corporate value-up plan (voluntary disclosure). As material the company presented on its own, the point is to see whether the numbers inside it flow through to actual results and shareholder returns. On February 4 an annual results-change filing confirmed revenue of ₩133.5 billion, operating profit of ₩15.9 billion, and net profit of ₩18.3 billion, and a cash and in-kind dividend was decided the same day. That rising earnings and a dividend decision came out on the same day makes it worth checking each quarter whether the picture of channeling earned cash into shareholder returns continues.
Bixolon's strengths are clear. With revenue, operating profit, and net profit all accelerating, P/B is below 1x, the forward P/E is low, and the balance sheet is stable with a 4.2% dividend yield and a 492% current ratio. In other words, growth, undervaluation, a high dividend, and a stable balance sheet sit together in one stock, and if the earnings improvement continues as it has, it is strong in the direction of the price following company value. On the caution side, because market cap is small, a single quarterly stumble or the drop-out of a one-off factor can make the swings in the numbers look large. Ultimately, whether the revenue and profit growth is sustained each quarter, and whether the return policy proceeds as promised, are the keys that separate this stock's strength from weakness.
🔎 Valuation vs peers Undervalued
A peer set of neighboring market caps within computers and peripherals.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Sindoh | 19.80x | 0.37x | 2.44% |
The starting point was a peer set of nearby market caps with public data within computers and peripherals. The current P/E ratio (how many times one year's earnings the share price is) is 9.04x and P/B (how many times book value the share price is) is 0.82x. That said, because smaller-cap stocks are more affected by earnings swings and financing disclosures, this was not judged 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 | ₩156.9 billion | ₩29.6 billion | ₩65.9 billion |
| Next quarter | Q2 2026 | ₩38.0 billion | ₩9.0 billion | ₩11.2 billion |
Price history Close · MA20 · MA60
The latest close is ₩8,600 and the market capitalization is ₩165.5 billion. The price sits above its 20-day moving average (₩8,294) and above its 60-day moving average (₩8,018). 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 58.8, a neutral level. The one-month change is +7.5%, the three-month change is +7.9%, and the position relative to the 52-week high is -1.9%. Relative strength versus the KOSDAQ is 86 (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 87% of all stocks. Over the past three months it outpaced the index by 58.6%. 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 +58.62% / 6M +95.40% / 12M +41.57%
Key metrics Computed vs sector median
Valuation
The P/E is 9.04x. The P/B of 0.82x is above the sector median (0.50x). 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.
Intrinsic value (DCF estimate) Estimate
Model output — not a price target. This is what the formula returns under the assumptions below, not a view on where the share price should go.
DCF (discounted cash flow) estimate — discount rate 9.2%, initial growth 4.0%→terminal 2.0%, 10-yr forecast, earnings-based. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 11.6%, above the sector average (5.0%). The operating margin is 14.2%. The debt ratio is 23.1%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $76.0M | $79.7M | $93.8M | +17.60% ↑ faster |
| Operating profit | $6.5M | $6.6M | $11.2M | +68.84% ↑ faster |
| Net profit | $7.7M | $9.4M | $12.9M | +37.24% ↑ faster |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $70.5M | $94.8M | $76.0M | $79.7M | $93.8M |
| Operating profit | $9.8M | $17.7M | $6.5M | $6.6M | $11.2M |
| Net profit | $18.1M | $7.6M | $7.7M | $9.4M | $12.9M |
| Revenue CAGR | 4-yr avg 7.38% | ||||
Revenue rose 17.6% year over year (2023 ₩108.1 billion → 2024 ₩113.5 billion → 2025 ₩133.5 billion), and the three-year trend is 'rising'. The pace of growth also quickened from the prior year. Operating profit rose 68.8% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 7.4%. The two-year revenue CAGR is 11.1%. In the most recent quarter (Q1 2026), revenue was 35.3% higher 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 3.8%, is on the high side.
- ROE of 11.6% points to solid profitability.
- Revenue grew 17.6% year over year, a sign of growth.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- The price is near its 52-week high, so chasing it warrants caution around volatility.
Recent news & events searched · sourced
- 2026-03-20UpdateCorporate value-up plan (voluntary disclosure) (2026 Bixolon corporate value-up plan): review of the original company planMaterial the company presented itself. If it contains figures, treat it as a primary basis for the outlook box; if not, treat it only as directional material. Source
- 2026-02-04EarningsChange of 30% or more (15% for large corporations) in revenue or profit structure: annual revenue ₩133.5 billion, operating profit ₩15.9 billion, net profit ₩18.3 billionRecent confirmed or preliminary results. Check whether it points the same way as the annual trend and whether one-off factors are present. Source
- 2026-02-04UpdateCash and in-kind dividend decision: check the return termsA filing tied 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 | ₩8,600 | ₩8,600 | Confirmed | link |
| Latest quarterly results | revenue ₩37.5 billion, operating profit ₩5.6 billion | revenue ₩37.5 billion, operating profit ₩5.6 billion | Confirmed | link |
| Annual results | revenue ₩133.5 billion, operating profit ₩15.9 billion | revenue ₩133.5 billion, operating profit ₩15.9 billion | Confirmed | link |
| Original outlook/plan disclosure text | — | — | Confirmed | link |
| Original results disclosure text | revenue30%: revenue ₩133.5 billion · operating profit ₩15.9 billion · net profit ₩18.3 billion | revenue30%: revenue ₩133.5 billion · operating profit ₩15.9 billion · net profit ₩18.3 billion | Confirmed | link |
| Original shareholder-return disclosure text | cash/stock dividend declared: check the payout terms | cash/stock dividend declared: check the payout terms | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-22OwnershipOwnership-change filing
- 2026-05-22OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-15OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-14PeriodicQuarterly report
- 2026-05-08OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-06OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-06OwnershipOfficers'/major-shareholders' holdings report
- 2026-03-20Disclosure
- 2026-03-20Shareholders' meeting notice
- 2026-03-12PeriodicAnnual business report
- 2026-03-11Audit report
- 2026-02-23Shareholders' 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.