Wisol, spun off from Samsung Electro-Mechanics in 2008, makes and sells SAW filters and duplexers - which pick out only the needed frequencies and filter out noise inside a smartphone - and RF modules that bundle these with antennas, switches, and the like, with most of its revenue coming from mobile RF components and its reach recently broadening into automotive electronics. Around the time of the annual report covering a 2025 loss, it decided to acquire and cancel treasury shares, showing an intent to return value to shareholders even right after a loss, and in the first quarter both operating and net profit turned positive, with the dividend yield reaching about 7.9%. What stands out lately is that if smartphone-component demand revives and automotive-electronics revenue is added so that quarterly operating profit continues, the undervaluation appeal shows through along with a 0.57 P/B and a dividend near 8%, but results move sharply with downstream smartphone demand and customer order swings, and whether the operating profit persists quarter to quarter still needs confirmation.
At-a-glance assessment financial health · growth · profitability · valuation
- The most recent full-year net result was a loss.
- Revenue fell 14.3% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 13.8% higher than a year earlier.
- ROE is -14.1% (controlling-interest basis). It is below the sector average.
- Operating margin is -11.3%.
- P/E is hard to compute here, so this is read on P/B.
Ownership & governance As of 2025-12-31
Largest shareholder Daeduck 35.74% (corporate)
Controlling bloc incl. related parties 36.01%
With the controlling bloc holding 36%, the ownership structure is stable.
🔎 In-depth analysis
- Wisol, spun off from Samsung Electro-Mechanics' SAW filter division in 2008, makes and sells SAW filters (surface acoustic wave filters) and duplexers - which pick out only the needed frequencies and filter out noise inside a smartphone - and RF modules that gather antennas, switches, and power amplifiers together with these passive components.
- In a word, it supplies small bundles of parts that cleanly refine a phone's communication signals.
- The overwhelming majority of revenue comes from mobile (smartphone) RF components, and recently it has been broadening into automotive electronics (automotive electronic devices) parts, securing automotive quality certifications.
- In other words, its money-making structure is 'smartphone-component supply' as the core business, with 'automotive parts' as a newly growing growth axis.
- The latest close is ₩5,920 and market capitalization is ₩157.7 billion.
- The price sits below the 20-day line (₩6,750) and below the 60-day line (₩7,292).
- Trading below both the short- and mid-term moving averages, the trend looks subdued.
- The RSI (a supplementary gauge comparing upward and downward strength over the last 14 days on a 0-100 scale) is 32.6, a neutral level.
- The one-month change is -13.7%, the three-month change is -9.9%, and the position versus the 52-week high is -32.0%.
- Relative strength versus the KOSDAQ is 78 (1-99; recent one-year return versus the index, weighted toward recent performance; higher means stronger than the market).
- That places it in roughly the top 22% for strength among all stocks.
- Over the past three months it outran the index by 21.3%.
- Chart interpretation is best done alongside trading volume and the dates of filings.
- The valuation shows a clear undervaluation signal relative to assets.
- The P/B (share price divided by net assets per share) is 0.57, trading at about half the level of book net assets (about ₩11,034 per share), and the P/S (market cap divided by revenue) is also low at 0.53.
- The P/E (how many times a year's profit the share price is) cannot be calculated because 2025 was a loss year, but this does not mean the stock is bad - it is simply that a year's loss left the denominator empty.
- Because profit already turned positive in the first quarter, the forward P/E based on this year's profit is actually lower than the multiple the same components sector typically receives.
- The profitability metrics of an ROE (how much is earned in a year on equity) of -14.1% and an operating margin of -11.3% are also traces of the single loss year of 2025, so taking them at face value as the current strength while recovery is underway would actually understate the company.
- Financial safety is favorable: a current ratio (assets convertible to cash against debt due within a year) of 4.33x leaves ample short-term liquidity, and a debt-to-equity ratio (debt against equity) of 117.8% is not excessive.
- The dividend yield is about 7.9% (₩500 per share), on the high side among comparable component makers.
- Looking at five years of results, revenue declined gently from ₩370.9 billion in 2021 to ₩321.2 billion in 2025 (-3.5% a year on average), and profit swung between gains and losses.
- In 2025 revenue fell 14.3%, with an operating loss of ₩36.3 billion and a net loss of ₩41.4 billion, the deepest loss in the last five years.
- The key is what came next, the first quarter of 2026.
- Revenue of ₩97.2 billion (+13.8% year over year), an operating profit of +₩2.1 billion, and a net profit of +₩6.1 billion marked a turn from loss to profit.
- That it turned profitable at the operating line while revenue grew double digits reads as a signal that downstream smartphone demand is reviving, utilization is rising, and the trough of the loss has passed.
- The forward P/E on this year's profit coming down also reflects this recovery.
- Here, the 'confirmed trailing P/E' (based on the already-past year's profit) is meaningless because of the loss, but the 'this-year forward P/E' (based on this year's earnings) is set low versus peers on top of quarterly results that have already turned positive.
- That said, since Q1 net profit (₩6.1 billion) is larger than operating profit (₩2.1 billion), some non-operating items may be mixed in, so confirming whether the core operating profit continues steadily each quarter is the point for gauging the quality of this recovery.
- The thread of filings in this period is two things: 'earnings recovery' and 'shareholder returns.' Around the time the annual report covering the 2025 loss came out (2026-03-18), a treasury-share acquisition trust contract and a decision to cancel shares were disclosed together (2026-03-12).
- Buying and canceling treasury shares reduces the number of shares outstanding, raising per-share value, a signal of an intent to return value to shareholders even right after a loss.
- Then the 2026-05-14 quarterly report confirmed the first-quarter turn to profit.
- Adding a dividend yield reaching about 7.9% on top, the company's stance of protecting shareholder value through dividends and share cancellation even amid a results downturn shows through consistently.
- The strengths are clear.
- Supported by a price at about half net assets (a 0.57 P/B), a dividend near 8%, and shareholder returns such as treasury-share trust and cancellation, it made a recovery starting point in the first quarter of 2026 as both operating and net profit turned positive.
- That the forward P/E on this year's profit is set lower than comparable component makers means that if the recovery continues, undervaluation appeal could be highlighted on both the asset and earnings sides.
- Meanwhile, because the core business is smartphone RF components, results move sharply with downstream smartphone demand and customer order swings, a point to always view together.
- The possibility that non-operating items are mixed into Q1 net profit, and whether the operating profit persists quarter to quarter, are also points that need confirmation.
- In sum, it is strong when smartphone-component demand revives and automotive-electronics revenue is added so quarterly operating profit continues, and weak if downstream demand turns down again.
- That said, the current price sits in an undervalued zone that has not fully reflected that recovery potential.
🔎 Valuation vs peers Inconclusive
Uses as a peer set smartphone and communications RF component makers and parts makers in the same KSIC (electronic components/displays).
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| RFHIC | 45.40x | 3.84x | 8.45% |
| FST | 0.00x | 1.91x | -5.10% |
Whereas the peer RF and electronic-component makers trade at a P/B of 2.8-5.9x, Wisol is valued at a 0.71 P/B, below even net assets. The direct cause of this discount is the large 2025 loss. Accordingly, the trailing P/E based on last year's profit cannot be calculated at all because of the loss, so its limits are clear, and the valuation judgment hinges on this year's earnings recovery (forward). If the Q1 2026 turn to profit continues through the year, undervaluation appeal is highlighted on both the asset and earnings sides, but because of the possibility that non-operating items are mixed into Q1 net profit and the volatility of downstream smartphone demand, the durability of the recovery is not yet confirmed. It clearly looks cheap, but with the persistence of profit not yet verified, it is left Inconclusive.
Price history Close · MA20 · MA60
The latest close is ₩5,920 and the market capitalization is ₩157.7 billion. The price sits below its 20-day moving average (₩6,750) and below its 60-day moving average (₩7,292). 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 32.6, a neutral level. The one-month change is -13.7%, the three-month change is -9.9%, and the position relative to the 52-week high is -32.0%. Relative strength versus the KOSDAQ is 78 (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 78% of all stocks. Over the past three months it outpaced the index by 21.3%. 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 +21.28% / 6M +25.27% / 12M -8.01%
Key metrics vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 0.54x is below the sector median (1.63x).
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 -14.1%, below the sector average (7.0%). The operating margin is -11.3%. The debt ratio is 117.8%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $245.1M | $248.5M | $212.9M | -14.33% ↓ slower |
| Operating profit | $8.9M | $305,651 | -$24.0M | -7966.68% ↓ slower |
| Net profit | $8.8M | $7.3M | -$27.5M | -475.19% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $245.8M | $229.2M | $245.1M | $248.5M | $212.9M |
| Operating profit | $9.2M | -$8.6M | $8.9M | $305,651 | -$24.0M |
| Net profit | $17.9M | -$9.8M | $8.8M | $7.3M | -$27.5M |
| Revenue CAGR | 4-yr avg -3.53% | ||||
Revenue fell 14.3% year over year (2023 ₩369.7 billion → 2024 ₩375.0 billion → 2025 ₩321.2 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 7966.7% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is -3.5%. The two-year revenue CAGR is -6.8%. In the most recent quarter (Q1 2026), revenue was 13.8% higher than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- P/E and P/B are both low versus peers, so the price looks inexpensive relative to earnings and assets.
- The dividend yield, at 8.5%, is on the high side.
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- Revenue fell 14.3% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2026-03-12UpdateDecided to sign a treasury-share acquisition trust contract. Confirms a treasury-share acquisition stance aimed at enhancing shareholder value and stabilizing the share price.In the short term, added treasury-share acquisition demand is supportive for supply and demand, and over the medium term it signals an intent to return value to shareholders. Source
- 2026-03-12FilingDecided to cancel shares. Canceling held treasury shares reduces the number of shares outstanding, raising per-share value.A direct shareholder-return effect that improves net assets per share and earnings per share as shares outstanding decrease. Source
- 2026-05-14EarningsFiled the Q1 2026 quarterly report. Revenue ₩97.2 billion (+13.8% year over year), operating profit +₩2.1 billion, net profit +₩6.1 billion, a turn from loss to profit.A key event confirming an earnings inflection point after the large 2025 loss. Whether the recovery continues is the crux of the forward valuation. Source
- 2026-03-18EarningsFiled the 2025 annual report. Revenue ₩321.2 billion (-14.3% year over year), operating loss -₩36.3 billion, net loss -₩41.4 billion, the largest loss in the last five years.A report capturing the downcycle trough. It contrasts with the subsequent Q1 turn to profit, forming the starting point of the recovery. Source
- 2026-03-26FilingDisclosure of regular shareholders' meeting results and a report on the appointment of outside directors. Regular governance procedures wrapped up.A routine governance procedure with limited short-term impact on results. Source
Figure cross-check computed ↔ external
Recent filings
- 2026-05-14PeriodicQuarterly report
- 2026-04-30Disclosure
- 2026-03-31OwnershipOwnership-change filing
- 2026-03-26Disclosure
- 2026-03-26Shareholders' meeting notice
- 2026-03-18PeriodicAnnual business report
- 2026-03-16Audit report
- 2026-03-12Disclosure
- 2026-03-12TreasuryMaterial-fact report
- 2026-03-11Disclosure
- 2026-03-11Shareholders' meeting notice
- 2026-03-11Amended 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.