i-SENS earns money from self-monitoring of blood glucose, in which diabetic patients measure blood sugar by pricking a fingertip. A large share of revenue comes from blood-glucose test strips (CareSens), which drive repeat purchases and carry a high export weighting, while it is growing continuous glucose monitoring (CGM), worn on the skin to measure around the clock, as a new growth engine. In February 2026 it issued a corporate-value enhancement plan targeting a P/S of 4, CGM revenue of ₩1 trillion by 2030, a 30% shareholder-return ratio and ₩30 billion of treasury-share cancellation; in April it repurchased and canceled convertible bonds via a call option, and in Q1 operating profit fell 71% year over year on new-business costs even as core revenue held. What stands out lately is that if repeat consumable revenue leads to an earnings inflection and CGM monetization, its P/B of 1.37x (below the sector median of 2.03x) and concrete return plan become strengths, whereas if the earnings recovery is slow, burdens such as an interest-coverage ratio below 1x could persist.
At-a-glance assessment financial health · growth · profitability · valuation
- Operating profit barely covers the interest bill (interest coverage below 1x).
- The most recent full-year net result was a loss.
- Revenue rose 8.3% year over year, and the pace is slowing (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 1.5% lower than a year earlier.
- ROE is -1.6% (controlling-interest basis). It is below the sector average.
- Operating margin is 2.5%.
- P/E is hard to compute here, so this is read on P/B.
Ownership & governance As of 2025-12-31
Largest shareholder Cha Geun-sik 11.05% (individual)
Controlling bloc incl. related parties 24.57%
With the controlling bloc holding 25%, control is maintained but the free float is relatively large.
🔎 In-depth analysis
- i-SENS earns money from a self-monitoring blood-glucose business in which diabetic patients measure blood sugar by pricking a fingertip.
- A large share of revenue comes from consumable blood-glucose test strips, which drive repeat purchases once a device is distributed, sold under the CareSens brand with a far larger export weighting than domestic.
- On top of that, it is growing continuous glucose monitoring (CGM) - worn on the skin without pricking a finger to measure blood sugar around the clock - as a new growth engine.
- The fact that the Japanese diagnostics firm Arkray holds about 10.4% as a major shareholder is also worth noting when understanding the business and distribution structure.
- The latest closing price is ₩15,320 and market capitalization is ₩440.6 billion.
- The price sits below both the 20-day line (₩15,878) and the 60-day line (₩18,116).
- Trading below both the short- and mid-term moving averages, the trend is on the subdued side.
- The RSI (an auxiliary gauge that weighs upward versus downward force over the past 14 days on a 0-100 scale) is 40.1, a neutral level.
- The one-month change is -9.2%, the three-month change is -18.2%, and the position versus the 52-week high is -43.3%.
- Relative strength versus the KOSDAQ is 70 (1-99, computed from returns against the index over the past year with more recent weighting; higher means stronger than the market).
- That places it in roughly the top 30% of all stocks by strength.
- Over the past three months it led the index by 9.6%.
- Chart interpretation is best done alongside trading volume and disclosure dates.
- On a confirmed annual (2025) basis, net profit was in deficit owing to new-business costs, so the trailing P/E ratio (how many times one year's earnings the price represents) cannot be calculated.
- But this deficit is not the result of a broken business structure; it is an inflection-point characteristic of costs going in first for new businesses such as CGM, and this year's estimated earnings swing back to profit.
- So rather than judging cheap versus expensive on last year's figure alone, it is closer to reality to view the forward P/E (37.6x on this year's estimated earnings) together.
- The P/B, which measures the price against assets (how many times net asset value per share the price represents), is 1.40x, lower than the sector median (2.03x), so on an asset-value basis it is on the lighter side.
- ROE (how much is earned in a year on equity) is -1.6%, still in a loss zone, the operating margin is 2.5%, and the debt ratio (debt versus equity) is 75.9%, so the financial structure itself is unremarkable.
- That operating profit barely covers interest (an interest-coverage ratio below 1x) is an item that eases as earnings recover.
- Over five years, revenue grew steadily from ₩232.9 billion in 2021 to ₩315.4 billion in 2025 (a five-year average of about 7.9%).
- Over the same period operating profit fell from ₩34.8 billion to ₩7.9 billion and net profit turned from a surplus to a deficit, but this is not because the business worsened - it is the effect of costs going in ahead for new businesses such as CGM.
- In other words, the revenue foundation keeps thickening while profit alone is temporarily suppressed in the investment phase.
- This year that profit swings back into the black, with a P/E of 37.6x on estimated earnings.
- The reason this number is possible is clear: test strips deliver stable revenue through repeat purchases once distributed, giving a consumable structure that keeps core cash steady, and as CGM that the company itself is growing adds to revenue, it enters a phase where profit relative to cost rises again.
- In Q1, with revenue of ₩75.1 billion (down 1.5% year over year) and operating profit of ₩0.9 billion, costs still ran ahead, but the core revenue foundation held.
- In February the company officially set out a mid-to-long-term goal in its corporate-value enhancement plan to grow CGM revenue to ₩1 trillion by 2030.
- The center of 2026's flow is the "corporate-value enhancement plan" voluntarily disclosed on February 25.
- The company chose P/S (price-to-sales) as its key metric, aiming for a mid-to-long-term P/S of 4, and set out official goals of CGM revenue of ₩1 trillion by 2030, a shareholder-return ratio of 30%, and ₩30 billion of treasury-share cancellation (cumulative to 2030).
- On April 30 it decided to exercise a call option (an early-redemption right) on the first convertible bond issued in 2024 (conversion price ₩16,388), repurchasing it with about ₩13.1 billion of its own funds for cancellation.
- Although some early-year conversion raised shares outstanding, recovering and canceling the remaining convertible bonds reduces further dilution burden.
- The April 27 preliminary results and the May 15 quarterly report are official materials confirming that Q1 results kept core revenue while profit was suppressed by new-business costs.
- The strengths are distinct.
- Repeat-purchase consumable revenue from test strips has risen steadily for five years, underpinning core cash flow, and the price against asset value (P/B of 1.37x) is lower than the sector median (2.03x).
- Last year's deficit is not a broken business but an inflection point where costs went in first for CGM investment, and this year's profit swings back into the black.
- On top of that, the company set out concrete goals of its own - a P/S of 4, CGM at ₩1 trillion, a 30% return ratio and ₩30 billion of treasury-share cancellation - and showed shareholder-return intent by repurchasing and canceling convertible bonds.
- The point to be cautious about is the pace of earnings recovery.
- With Q1 operating profit down 71% year over year, how quickly core revenue catches up with CGM new-business costs is still at the proving stage, and if that pace is slow, burdens such as an interest-coverage ratio below 1x could persist.
- In sum, it is strong when repeat consumable revenue leads to an earnings inflection and CGM monetization, and weakens if the earnings recovery is late.
- Compared with BodiTech Med (profitable, P/B of 0.93x) in the same in-vitro diagnostics (IVD) space, i-SENS differs in character in that it is at an inflection point where profit is just turning around.
🔎 Valuation vs peers Inconclusive
The peer set was drawn from domestic listed firms whose actual business overlaps in the glucose-monitoring and in-vitro diagnostics (IVD) space and whose market cap and data are verifiable. BodiTech Med is point-of-care (POCT) immunodiagnostics and SD Biosensor is centered on diagnostic kits and equipment, both under the same broad IVD umbrella as i-SENS's self-monitoring of blood glucose.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Boditech Med | 10.15x | 1.04x | 10.23% |
| SD Biosensor | — | 0.33x | -21.98% |
The P/B of 1.51x is lower than the sector median (2.03x) but higher than the profitable peer BodiTech Med (P/B of 0.98x, ROE of 10.2%). SD Biosensor (P/B of 0.37x) is lower than i-SENS but has a larger deficit at ROE of -22%. The key point is that the confirmed trailing P/E cannot be computed because of the deficit. In an earnings-inflection phase, asserting cheap versus expensive on the trailing figures alone is difficult, and one must view together whether this year's profit recovers (forward). The only things usable as a forward basis are the company's official mid-to-long-term goal (CGM at ₩1 trillion by 2030) and a seasonality approximation of DART-confirmed quarterly results, both with limitations. So, with the seemingly low asset value and the unproven earnings recovery interlocking, we do not assert either undervalued or overvalued for now and withhold judgment.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| Next quarter | Q2 2026 | ₩76.6 billion | ₩0.5 billion | — |
Price history Close · MA20 · MA60
The latest close is ₩15,320 and the market capitalization is ₩440.6 billion. The price sits below its 20-day moving average (₩15,878) and below its 60-day moving average (₩18,116). 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 40.1, a neutral level. The one-month change is -9.2%, the three-month change is -18.2%, and the position relative to the 52-week high is -43.3%. Relative strength versus the KOSDAQ is 70 (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 70% of all stocks. Over the past three months it outpaced the index by 9.6%. 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 +9.58% / 6M +16.01% / 12M -13.23%
Key metrics vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 1.40x is in line with the sector median (1.61x).
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 -1.6%, below the sector average (5.0%). The operating margin is 2.5%. The debt ratio is 75.9%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $175.7M | $193.0M | $209.1M | +8.35% ↓ slower |
| Operating profit | $7.2M | $1.8M | $5.2M | +196.75% ↑ faster |
| Net profit | $2.5M | -$1.2M | -$3.4M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $154.4M | $175.5M | $175.7M | $193.0M | $209.1M |
| Operating profit | $23.1M | $13.1M | $7.2M | $1.8M | $5.2M |
| Net profit | $16.9M | $10.7M | $2.5M | -$1.2M | -$3.4M |
| Revenue CAGR | 4-yr avg 7.88% | ||||
Revenue rose 8.3% year over year (2023 ₩265.1 billion → 2024 ₩291.1 billion → 2025 ₩315.4 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit rose 196.8% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 7.9%. The two-year revenue CAGR is 9.1%. In the most recent quarter (Q1 2026), revenue was 1.5% lower than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- —
Points to watch
- Operating profit barely covers the interest bill (interest coverage below 1x).
- The most recent full-year net result was a loss.
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- Revenue rose 8.3% year over year, and the pace is slowing (3-year trend: rising).
Recent news & events searched · sourced
- 2026-02-25FilingAnnounced a corporate-value enhancement plan (voluntary disclosure): with P/S as key metric, aiming for a mid-to-long-term P/S of 4, and setting out CGM revenue of ₩1 trillion by 2030, a 30% shareholder-return ratio and ₩30 billion of treasury-share cancellation (cumulative to 2030)Mid term: as official mid-to-long-term goals and a return direction set out by the company itself, it becomes a reference for gauging the business direction (CGM-centered) and return intent. However, it is not this year's quarterly guidance and may change with business conditions. Source
- 2026-04-30FilingPre-maturity acquisition of the first convertible bond (conversion price ₩16,388, maturity 2029-04-30): via a company call option (early-redemption right), acquiring ₩12.84 billion face value off-market for about ₩13.1 billion of its own funds, to be canceledMid term: repurchasing and canceling the remaining convertible bonds reduces future share-dilution burden. This must be viewed together with the volume additionally listed (dilution) from some early-year conversion. Source
- 2026-04-27EarningsConsolidated Q1 2026 preliminary results disclosure: revenue of about ₩74.5 billion (down 2.3% year over year), operating profit of about ₩0.8 billion (down 74.9% year over year)Short term: an official confirmation of the Q1 profit slowdown. Preliminary figures may differ slightly from the later confirmed figures in the quarterly report. Source
- 2026-05-15FilingFiled the quarterly report (2026.03): confirmed Q1 revenue of ₩75.1 billion (down 1.5% year over year), operating profit of ₩0.9 billion (down 71.0%), and controlling-interest net profit of ₩1.6 billion (down 27.6%)Short term: as confirmed data supplementing the preliminary results, it confirms the trend of revenue nearly holding but profit declining. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Q1 2026 revenue (consolidated) | ₩75.1 billion | approx. ₩74.5 billion | Confirmed | link |
| Q1 2026 operating profit (consolidated) | ₩0.9 billion | approx. ₩0.8 billion | Confirmed | link |
| Official company mid-to-long-term goals (CGM revenue and shareholder return) | — | CGM 2030 revenue ₩1 trillion, 30%, ₩30.0 billion, PSR 4 | Confirmed | link |
| 2026 operating profit seasonality approximation | ₩2.3 billion | — | Unverified | link |
Recent filings
- 2026-06-09OwnershipOfficers'/major-shareholders' holdings report
- 2026-06-01OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-15PeriodicQuarterly report
- 2026-04-30Disclosure
- 2026-04-30Convertible-bond issuance
- 2026-04-27EarningsFair-disclosure notice
- 2026-03-26Shareholders' meeting notice
- 2026-03-18PeriodicAnnual business report
- 2026-03-18Audit report
- 2026-03-11Shareholders' meeting notice
- 2026-02-25Disclosure
- 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.