Sekonix Hi-Tech (148150) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Sekonix Hi-Tech makes protective films that wrap smartphone screens, deco films that add color and pattern, and functional films for foldable and curved displays. Because it supplies parts and materials rather than finished sets, its results are tied directly to the shipment volumes of downstream smartphone set makers and to display-adoption trends. A February 2026 annual-results filing put revenue at ₩277.9 billion, operating profit at ₩1.8 billion and net profit at ₩48.8 billion, and the same day a cash and in-kind dividend was decided, for a dividend yield of around 3.5%. The key thing to note: strengths include the stock being pressed down to a P/B of 0.43x — less than half of book value — a low forward P/E on normalized earnings that strips out one-off items, and ROE of 20.7% above the peer average; on the other hand, the operating margin is still thin at 0.6% and Q1 operating income was a loss, so how fast the recovery moves from the top line into earnings is the crux.
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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 “Electronic Components” (Semiconductors & IT Components), a type typically read first through forward P/E.
Electronic components swing with set-makers' product launches and demand cycles, so what lies ahead matters more than earnings already booked. That makes forward P/E — pricing the shares against expected earnings — the first metric to read.
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
- Operating profit barely covers the interest bill (interest coverage below 1x).
- Revenue fell 13.2% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 13.1% higher than a year earlier.
- ROE is 17.6% (controlling-interest basis). It is above the sector average.
- Operating margin is 0.6%.
- The P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder SGH Holdings 28.15% (corporate)
Controlling bloc incl. related parties 42.97%
With the controlling bloc holding 43%, the ownership structure is stable.
🔎 In-depth analysis Reading
Sekonix Hi-Tech makes various films and parts that go into smartphones and displays. Its mainstays include protective films that wrap phone screens, deco (exterior) films that add color and pattern, and functional films for foldable and curved displays. Because it supplies parts and materials rather than finished sets, its results are tied directly to downstream smartphone set makers' new-product shipment volumes and display-adoption trends. It has broadened into adjacent materials and parts — a 2021 equity investment in Japan's RAISONTECH and a 2023 acquisition of a 70% stake in Sesmat, for example. With a light market cap of ₩102.4 billion, it is worth watching not only the business itself but also the effect any single disclosure can have on the balance sheet and share count.
The latest close is ₩3,075 and the market capitalization is ₩109.3 billion. The price sits above its 20-day moving average (₩2,951) and below its 60-day moving average (₩3,391). 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 50.8, a neutral level. The one-month change is -0.2%, the three-month change is -35.3%, and the position relative to the 52-week high is -56.7%. Relative strength versus the KOSDAQ is 26 (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 26% of all stocks. Over the past three months it lagged the index by 1.3%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Recent annual revenue was ₩277.9 billion, with operating profit of ₩1.8 billion and net profit of ₩48.8 billion. ROE (how much is earned in a year on equity) was 20.7%, above the peer average; the debt ratio (debt against equity) was 146.9% and the current ratio was 158%, so short-term payment capacity is adequate. A striking point is that last year's net profit (₩48.8 billion) was far larger than operating profit (₩1.8 billion), which means one-off gains from outside the core operations are mixed in. So rather than taking the P/E of 2.1x computed from a single line of last year's results at face value, it is more accurate to view it on a basis where core-business earnings are normalized. The P/B is 0.44x, a level where the price falls short of even half the net asset value on the books. For such a stock, rather than concluding a low trailing metric is immediately good or a high one is a burden, the key is to convert to core earnings power.
Revenue was ₩304.5 billion in 2023, ₩320.3 billion in 2024 and ₩277.9 billion in 2025 — down 13.2% last year from the prior year — and operating profit fell sharply from ₩17.4 billion (2023) to ₩1.8 billion (2025). It is a phase where softer downstream smartphone demand pressed core margins. That said, the most recent quarter (Q1 2026) saw revenue of ₩61.0 billion, up 13.1% from the same period a year earlier, a sign the top line is turning again, while quarterly operating income was a loss of ₩2.2 billion as costs remain heavy. This year's outlook is revenue of ₩297.2 billion and net profit of ₩15.3 billion, the picture of the Q1 top-line recovery carrying through to the full year. Because revenue turns back up from last year's trough and earnings are converted to a normalized core-business track that strips out one-off items, this year's outlook is best read as a figure reflecting the early stage of recovery rather than a simple extension of a broken trend. That said, with the operating margin still thin, the pace of cost normalization is the crux of the recovery.
In the February 27, 2026 annual results-change filing, revenue of ₩277.9 billion, operating profit of ₩1.8 billion and net profit of ₩48.8 billion were presented as confirmed or preliminary. With net profit large relative to operating profit, whether one-off items from outside operations are involved must be viewed together. The same day a cash and in-kind dividend was decided, and earlier, on February 12, a dividend record-date (register closing) notice came out. With a dividend yield of around 3.5%, the point to confirm is whether earnings power and cash flow support the return.
The strong side is clear. The stock is pressed down to a P/B of 0.43x — less than half of book value — and the forward P/E on this year's normalized earnings, stripped of one-off items, is also lower than the peer group, so on valuation alone the undervaluation signal is distinct. ROE of 20.7% puts profitability itself above the peer average, and a dividend yield of 3.5% supports returns. That Q1 revenue rose by double digits year on year, a sign of a top-line recovery, is also positive. On the side to watch is core-business earnings. With the operating margin at 0.6% still thin and Q1 operating income a loss, how fast the recovery moves from the top line into earnings is the crux. In short, the more downstream smartphone demand revives and core margins normalize, the faster the undervaluation shows through; conversely, if the demand recovery is slow and loss-making quarters drag on, the appeal is reflected only belatedly.
🔎 Valuation vs peers Undervalued
A peer set of electronic-components and display names with nearby market capitalization.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Actro | 10.78x | 0.90x | 10.08% |
| SensorView | — | 4.21x | -116.65% |
| Amosense | 146.68x | 1.55x | 0.06% |
Within electronic components and displays, public-data peers with nearby market capitalization were looked at first. The current P/E (how many times one year's earnings the price is) is 2.24x and the P/B (how many times book value the price is) is 0.46x. That said, for smaller-cap names, earnings swings and financing disclosures carry a large effect, so no firm conclusion was drawn from 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 | ₩297.2 billion | — | ₩15.3 billion |
| Next quarter | Q2 2026 | ₩79.7 billion | — | ₩1.0 billion |
Price history Close · MA20 · MA60
The latest close is ₩3,075 and the market capitalization is ₩109.3 billion. The price sits above its 20-day moving average (₩2,951) and below its 60-day moving average (₩3,391). 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 50.8, a neutral level. The one-month change is -0.2%, the three-month change is -35.3%, and the position relative to the 52-week high is -56.7%. Relative strength versus the KOSDAQ is 26 (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 26% of all stocks. Over the past three months it lagged the index by 1.3%. 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 -1.29% / 6M -12.05% / 12M -54.60%
Key metrics Computed vs sector median
Valuation
The P/E of 2.24x is below the sector median (15.45x). The P/B of 0.46x is below the sector median (0.86x). Both metrics are low versus peers, so the price is not expensive relative to earnings and assets.
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 17.6%, above the sector average (4.0%). The operating margin is 0.6%. The debt ratio is 47.5%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $213.9M | $225.0M | $195.2M | -13.24% ↓ slower |
| Operating profit | $25.4M | $22.1M | $1.2M | -94.40% ↓ slower |
| Net profit | $9.6M | $14.4M | $34.3M | +137.17% ↑ faster |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $188.5M | $183.1M | $213.9M | $225.0M | $195.2M |
| Operating profit | $12.2M | $5.6M | $25.4M | $22.1M | $1.2M |
| Net profit | $15.9M | $11.6M | $9.6M | $14.4M | $34.3M |
| Revenue CAGR | 4-yr avg 0.88% | ||||
Revenue fell 13.2% year over year (2023 ₩304.5 billion → 2024 ₩320.3 billion → 2025 ₩277.9 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 94.4% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is 0.9%. The two-year revenue CAGR is -4.5%. In the most recent quarter (Q1 2026), revenue was 13.1% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
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 3.2%, is on the high side.
- ROE of 17.6% points to solid profitability.
Points to watch
- Revenue fell 13.2% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2026-02-27EarningsChange in revenue or profit structure of 30% or more (15% for large corporations): full-year revenue ₩277.9 billion, operating profit ₩1.8 billion, net profit ₩48.8 billionThis is recent confirmed or preliminary results data. Check whether it points the same way as the annual trend and whether any one-off factors are involved. Source
- 2026-02-27UpdateCash and in-kind dividend decision: confirm the return termsA disclosure related to cash returns or a change in share count. Check whether earnings power and cash flow support it. Source
- 2026-02-12UpdateDecision on closing the shareholder register (record date) for a cash and in-kind dividend: confirm the return termsA disclosure related to cash returns or a change in share count. Check whether earnings power and cash flow support it. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩3,075 | ₩3,075 | Confirmed | link |
| Latest quarterly results | revenue ₩61.0 billion, operating profit -₩2.2 billion | revenue ₩61.0 billion, operating profit -₩2.2 billion | Confirmed | link |
| Annual results | revenue ₩277.9 billion, operating profit ₩1.8 billion | revenue ₩277.9 billion, operating profit ₩1.8 billion | Confirmed | link |
| Results disclosure (original text) | revenue30%: revenue ₩277.9 billion · operating profit ₩1.8 billion · net profit ₩48.8 billion | revenue30%: revenue ₩277.9 billion · operating profit ₩1.8 billion · net profit ₩48.8 billion | Confirmed | link |
| Shareholder-return disclosure (original text) | cash/stock dividend declared: check the payout terms | cash/stock dividend declared: check the payout terms | Confirmed | link |
| Shareholder-return disclosure (original text) | record date set for cash/stock dividend: check the payout terms | record date set for cash/stock dividend: check the payout terms | Confirmed | link |
| Outlook-box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-15PeriodicQuarterly report
- 2026-05-07OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-06OwnershipOwnership-change filing
- 2026-03-31Disclosure
- 2026-03-31Disclosure
- 2026-03-31Shareholders' meeting notice
- 2026-03-23PeriodicAnnual business report
- 2026-03-23Audit report
- 2026-03-12Shareholders' meeting notice
- 2026-03-12Shareholders' meeting notice
- 2026-02-27DividendCash/stock dividend decision
- 2026-02-27EarningsEarnings 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.