Genic (123330) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Genic is a cosmetics manufacturer built around hydrogel mask packs applied to the skin, with a lineup that extends to sheet mask packs and skincare. Although classified under chemicals, in practice its revenue comes from selling its own brands and from making and supplying products to order for client companies, and because its market cap is not large, changes such as adoption of new products flow into results relatively quickly. Its 2025 results reached annual revenue of ₩78.2 billion, operating profit of ₩15.0 billion and net profit of ₩18.9 billion - up sharply from the prior year - and in Q1 2026 it posted revenue of ₩29.4 billion, operating profit of ₩3.4 billion and net profit of ₩3.5 billion. What stands out lately is that, after turning profitable, revenue has grown more than 50% for two straight years, and with the efficiency of a 46% ROE and a 19% operating margin at a trailing P/E of 8.92x the valuation burden is not heavy - a strength. The caution is that if mask-pack demand cools or orders wobble on reliance on a particular client, volatility can rise.
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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 “Cosmetics Brands” (Retail, Consumer Goods & Food · Cosmetics), a type typically read first through forward P/E.
Cosmetics brands are growth-oriented consumer names whose sales and profits can shift quickly with new products, channel expansion, and overseas rollouts. Because future growth explains the price better than past results, forward P/E, based on expected earnings, is the first lens.
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 56.7% year over year, and the pace is slowing (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 64.7% higher than a year earlier.
- ROE is 42.3% (total-net basis). It is above the sector average.
- Operating margin is 16.3%.
- P/B is high versus peers, a stretch on an asset basis.
Ownership & governance As of 2025-12-31
Largest shareholder Soulbrain Holdings 34.55% (corporate)
Controlling bloc incl. related parties 34.55%
With the controlling bloc holding 35%, the ownership structure is stable.
🔎 In-depth analysis Reading
Genic is a cosmetics manufacturer built around hydrogel mask packs applied to the skin, with a lineup that extends to sheet-type mask packs and skincare products. Although classified under chemicals, in practice its revenue comes from making mask packs and supplying them to cosmetics brands and distributors. Its hydrogel products sell steadily on the strength of quality and price competitiveness, and it also produces and supplies items in the forms clients want, such as the wrapping-type mask packs whose demand has grown recently. In other words, the basis of revenue is a structure of both selling its own brands and manufacturing to client orders for supply. Because its market cap is not large, changes such as adoption of new products or landing a major client flow into results relatively quickly.
The latest close is ₩28,700 and the market capitalization is ₩228.7 billion. The price sits above its 20-day moving average (₩24,985) and above its 60-day moving average (₩23,180). 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 61.8, a neutral level. The one-month change is +7.1%, the three-month change is +7.5%, and the position relative to the 52-week high is -27.6%. Relative strength versus the KOSDAQ is 85 (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 86% of all stocks. Over the past three months it outpaced the index by 76.7%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
The most recent annual revenue is ₩78.2 billion, operating profit ₩15.0 billion and net profit ₩18.9 billion, with an operating margin of 19.1% and a net margin of 24.2% - thick margins. ROE (how much is earned in a year on equity) is 46.0%, well above the peer average, while the debt ratio (debt against equity) is 137.7%, the current ratio (assets convertible to cash against debt due within a year) is 237%, and interest coverage (how many times operating profit covers interest) is 45.5x, so the finances are stable. The trailing P/E (how many times the past year's earnings the price represents) is low at 11.77x, while the P/B (how many times book value the price represents) of 5.13x looks high on the number alone. But the reason the P/B is high is that it earns 46% on equity - not that the price is excessive. For a stock whose profit has just turned up from loss to gain, future profit matters more than past results, and the forward P/E is at a level similar to peers.
Revenue rose sharply for two straight years - ₩28.1 billion in 2023, ₩49.9 billion in 2024 (up 77.8%), and ₩78.2 billion in 2025 (up 56.7%) - and operating profit turned clearly around, from a ₩4.0 billion loss in 2023 to ₩6.0 billion in 2024 and ₩15.0 billion in 2025. The key is that margins have kept thickening since the swing from loss to profit. In the most recent quarter, Q1 2026, revenue of ₩29.4 billion was up 64.7% year on year, so top-line growth continued unbroken, while operating profit (₩3.4 billion) and net profit (₩3.5 billion) held at levels similar to the prior year. The basis for this year's outlook of about ₩13.6 billion in operating profit and about ₩18.7 billion in net profit is that mask-pack demand lends support while utilization and margins hold, and the revenue growth already confirmed in Q1 continues through the remaining quarters. This is a trend that carries on without much retreat even against last year's full-year results. That said, the slight year-on-year dip in quarterly operating profit is a point to check each quarter for changes in costs or expenses.
Disclosures center on results materials. On 2026-01-28 a revenue/profit-structure change disclosure revealed 2025 annual revenue of ₩78.2 billion, operating profit of ₩15.0 billion and net profit of ₩18.9 billion, and on 2026-03-16 the business report (2025.12) confirmed the same figures. Then on 2026-05-14 the quarterly report (2026.03) disclosed Q1 2026 revenue of ₩29.4 billion, operating profit of ₩3.4 billion and net profit of ₩3.5 billion. All three disclosures point the same way, with revenue up sharply year on year, and let one confirm whether the annual swing to profit carries through on a quarterly basis. Whether this trend holds without one-off factors is the point to watch going forward.
Genic's strengths are clear. After turning from loss to profit, revenue has grown more than 50% for two straight years, its earning efficiency is good with a 46% ROE and a 19% operating margin, and its debt and liquidity are stable. The trailing P/E of 8.92x is on the low side and the forward P/E is similar to peers, so as long as profit growth continues it is hard to call the current price expensive. The P/B of 4.11x is high on the number, but this is a result of the high ROE and a level that can be justified if profitability holds. Conversely, the conditions under which it could weaken are when mask-pack demand cools or reliance on a particular client makes orders wobble, and when the year-on-year decline in quarterly operating profit hardens into a margin slowdown. In short, while demand and margins hold it is a stock whose price burden is not heavy relative to its growth, and if demand and margins wobble, so does its volatility.
🔎 Valuation vs peers Overvalued
A peer set of chemicals-sector names adjacent by market cap.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Purit | 8.35x | 1.15x | 15.23% |
| Noroo Paint | 9.31x | 0.37x | 4.78% |
| TK Chemical | 1.25x | 0.11x | 5.36% |
Within chemicals, publicly available peers close by market cap were looked at first. The current P/E (how many times a year's earnings the price represents) is 12.11x and the P/B (how many times book value the price represents) is 5.13x. However, because lower-market-cap names are strongly affected by profit swings and financing disclosures, no firm conclusion was drawn from metrics based on last year's booked results 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 | ₩151.9 billion | ₩13.6 billion | ₩18.7 billion |
| Next quarter | Q2 2026 | ₩39.8 billion | ₩5.0 billion | ₩4.0 billion |
Price history Close · MA20 · MA60
The latest close is ₩28,700 and the market capitalization is ₩228.7 billion. The price sits above its 20-day moving average (₩24,985) and above its 60-day moving average (₩23,180). 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 61.8, a neutral level. The one-month change is +7.1%, the three-month change is +7.5%, and the position relative to the 52-week high is -27.6%. Relative strength versus the KOSDAQ is 85 (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 86% of all stocks. Over the past three months it outpaced the index by 76.7%. 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 +76.67% / 6M +85.04% / 12M -20.08%
Key metrics Computed vs sector median
Valuation
The P/E of 12.11x is in line with the sector median (14.15x). The P/B of 5.13x is above the sector median (0.90x).
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 9.8%, initial growth 4.0%→terminal 2.0%, 10-yr forecast, free-cash-flow basis. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 42.3%, above the sector average (4.0%). The operating margin is 16.3%. The debt ratio is 50.1%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $19.7M | $35.1M | $54.9M | +56.68% ↓ slower |
| Operating profit | -$2.8M | $4.2M | $10.5M | +148.58% |
| Net profit | -$3.1M | $5.3M | $13.3M | +149.73% |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $27.0M | $22.1M | $19.7M | $35.1M | $54.9M |
| Operating profit | -$2.8M | -$2.2M | -$2.8M | $4.2M | $10.5M |
| Net profit | -$3.0M | -$2.3M | -$3.1M | $5.3M | $13.3M |
| Revenue CAGR | 4-yr avg 19.45% | ||||
Revenue rose 56.7% year over year (2023 ₩28.1 billion → 2024 ₩49.9 billion → 2025 ₩78.2 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit rose 148.6% year over year. Over the 5 years on record, revenue compound annual growth (CAGR) is 19.4%. The two-year revenue CAGR is 66.9%. In the most recent quarter (Q1 2026), revenue was 64.7% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- ROE of 42.3% points to solid profitability.
- Revenue grew 56.7% year over year, a sign of growth.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-01-28EarningsChange in revenue or profit structure of 30% or more (15% for large corporations): annual revenue ₩78.2 billion, operating profit ₩15.0 billion, net profit ₩18.9 billionRecent confirmed or preliminary results material. Check whether it points the same way as the annual trend and whether any one-off factors are present. Source
- 2026-05-14EarningsQuarterly report (2026.03): Q1 2026 revenue ₩29.4 billion, operating profit ₩3.4 billion, net profit ₩3.5 billionRecent confirmed or preliminary results material. Check whether it points the same way as the annual trend and whether any one-off factors are present. Source
- 2026-03-16EarningsBusiness report (2025.12): revenue ₩78.2 billion, operating profit ₩15.0 billion, net profit ₩18.9 billionRecent confirmed or preliminary results material. Check whether it points the same way as the annual trend and whether any one-off factors are present. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩28,700 | ₩28,700 | Confirmed | link |
| Latest quarterly results | revenue ₩29.4 billion, operating profit ₩3.4 billion | revenue ₩29.4 billion, operating profit ₩3.4 billion | Confirmed | link |
| Annual results | revenue ₩78.2 billion, operating profit ₩15.0 billion | revenue ₩78.2 billion, operating profit ₩15.0 billion | Confirmed | link |
| Results disclosure source text | revenue30%: revenue ₩78.2 billion · operating profit ₩15.0 billion · net profit ₩18.9 billion | revenue30%: revenue ₩78.2 billion · operating profit ₩15.0 billion · net profit ₩18.9 billion | Confirmed | link |
| Results disclosure source text | (2026.03): 2026 1 revenue ₩29.4 billion · operating profit ₩3.4 billion · net profit ₩3.5 billion | (2026.03): 2026 1 revenue ₩29.4 billion · operating profit ₩3.4 billion · net profit ₩3.5 billion | Confirmed | link |
| Results disclosure source text | (2025.12): revenue ₩78.2 billion · operating profit ₩15.0 billion · net profit ₩18.9 billion | (2025.12): revenue ₩78.2 billion · operating profit ₩15.0 billion · net profit ₩18.9 billion | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-14PeriodicQuarterly report
- 2026-05-04OwnershipOwnership-change filing
- 2026-04-30Disclosure
- 2026-04-02OwnershipOwnership-change filing
- 2026-03-31OwnershipOwnership-change filing
- 2026-03-24Shareholders' meeting notice
- 2026-03-20Amended filing
- 2026-03-16PeriodicAnnual business report
- 2026-03-16Audit report
- 2026-03-09Shareholders' meeting notice
- 2026-03-09Shareholders' 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.