Nano is a company in the chemicals sector. Last year it posted annual revenue of ₩85.7 billion, operating profit of ₩5.5 billion and net profit of ₩7.0 billion, and with a market cap of about ₩99.5 billion, individual disclosures such as supply contracts and facility investments have a relatively large effect on its revenue and profit. There was a single supply contract worth ₩4.7 billion (5.3% of recent revenue) in July 2025, annual results were confirmed in a change filing in February 2026, and in November 2025 there was a corrected filing on new facility investment reflecting a change in the final-payment date. The strengths to note are an ROE of 16.5% that puts profitability ahead of peers, multi-year growth in both revenue and core-business profit, and a price that has fallen more than half from its 52-week high; the caution is that Q1 2026 revenue fell year over year and swung to a quarterly loss, and a debt ratio of 220.7% is somewhat high, so the key is whether the contract and investment disclosures translate into actual revenue.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt is somewhat higher than equity (debt ratio 220.7%).
- Revenue fell 3.3% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 19.2% lower than a year earlier.
- ROE is 16.5% (controlling-interest basis). It is above the sector average.
- Operating margin is 6.5%.
- P/B is high versus peers, a stretch on an asset basis.
Ownership & governance As of 2025-12-31
Largest shareholder Shin Dong-woo 9.82% (individual)
Controlling bloc incl. related parties 10.49%
With the controlling bloc holding 10%, ownership is dispersed, leaving room for control-related or activist dynamics.
🔎 In-depth analysis
- On a full-year basis last year, the company posted revenue of ₩85.7 billion, operating profit of ₩5.5 billion and net profit of ₩7.0 billion.
- As a company that is not large, with a market cap of about ₩99.5 billion, its structure is one in which a single individual disclosure such as a supply contract or facility investment has a relatively large effect on revenue and profit, alongside the business flow itself.
- So it helps to look at what products the company makes money from together with whether recent disclosures translate into actual results.
- The latest close is ₩3,085 and the market cap is ₩95.1 billion.
- The price sits below its 20-day line (₩3,821) and below its 60-day line (₩5,067).
- Trading under both its short- and medium-term moving averages, the trend looks subdued.
- The RSI (an auxiliary gauge that compares upward and downward force over the past 14 days on a 0-100 scale) is 30.0, close to depressed territory.
- The one-month change is -33.7%, the three-month change is -8.2%, and the position versus the 52-week high is -57.6%.
- Relative strength versus the KOSDAQ is 89 (1-99, computed from the past year's return against the index with heavier weight on recent performance; higher means stronger than the market), placing it in roughly the top 11% of all stocks by strength.
- Over the past three months it led the index by 18.9%.
- When reading the chart, it helps to look at volume and disclosure dates together.
- Last year's annual revenue was ₩85.7 billion, with operating profit of ₩5.5 billion and net profit of ₩7.0 billion.
- The operating margin is 6.5%, and the ROE (how much is earned in a year on equity) is a solid 16.5%, above the peer average.
- The debt ratio (debt versus equity) of 220.7% means debt somewhat exceeds equity, an area worth checking on an ongoing basis.
- The P/E ratio (how many times a year's profit the share price is) is 13.53x and the P/B (how many times book value the share price is) is 2.23x.
- The P/B looks higher than the peer set, but this also reflects an ROE above peers, indicating efficient use of capital, so it is hard to call it simply expensive.
- That said, last year's net profit includes the effect of a normalization from the large profit in the prior year (₩22.6 billion), so when reading the metrics it is more accurate to distinguish the profit that comes steadily from operations from one-off factors.
- Revenue rose over several years, from ₩51.3 billion in 2021 to ₩85.7 billion in 2025, and over the same span operating profit grew from ₩900 million to ₩5.5 billion.
- In particular, last year's operating profit jumped sharply from the prior year (₩1.66 billion), a picture of core-business profitability improving a notch.
- By contrast, in the most recent quarter, Q1 2026, revenue of ₩11.0 billion fell 19.2% year over year, and with an operating loss of -₩900 million and a net loss of -₩1.1 billion, it recorded a quarterly loss.
- So while revenue and core-business profit have both grown over the multi-year trend, early this year demand or utilization appears to have weakened temporarily.
- There is no separate confirmed profit guidance from the company for this year's full-year outlook, so it is a stage of confirming direction through the flow of quarterly results and future disclosures.
- Looking at the recent flow of disclosures, there was a single supply contract in July 2025 (contract amount ₩4.7 billion, 5.3% of recent revenue), where whether it is a one-off or a repeatable transaction shapes the medium-term reading of revenue.
- In February 2026, annual results (revenue ₩85.7 billion, operating profit ₩5.5 billion, net profit ₩7.0 billion) were confirmed and disclosed in a change filing.
- In addition, in November 2025 there was a corrected filing on new facility investment, a company planning document in which the investment period and amount were adjusted following a change in the final-payment date.
- Such disclosures serve as a primary basis for gauging how future revenue and capacity might move.
- Nano's strengths are clear.
- An ROE of 16.5% puts profitability ahead of peers, both revenue and core-business profit have grown over multiple years, and the share price has fallen more than half from its 52-week high with the RSI in depressed territory, a phase where expectations are set low.
- On the other hand, the points to check are that Q1 2026 revenue fell year over year and swung to a quarterly loss, that the debt ratio of 220.7% is somewhat high, and that with a small market cap a single individual disclosure can move results and the share count sharply.
- In short, the core-business profitability and the depressed price are strengths, and the key to filling the weaknesses is whether the quarterly-results recovery early this year and the contract and investment disclosures translate into actual revenue.
🔎 Valuation vs peers Overvalued
A comparison set of chemicals names close in market cap.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Tonymoly | 12.66x | 1.19x | 9.43% |
| Taekyung Industrial | 7.98x | 0.44x | 5.46% |
| HDC Hyundai EP | 3.58x | 0.33x | 9.29% |
Within chemicals, we prioritized a public-data comparison set close in market cap. The current P/E ratio (how many times a year's profit the share price is) is 13.53x and the P/B (how many times book value the share price is) is 2.23x. That said, for smaller-cap names, swings in profit and funding disclosures carry a large effect, so we did not draw firm conclusions from last year's confirmed results alone. The forecast box is based on a DART seasonality approximation.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩57.9 billion | — | — |
| Next quarter | Q2 2026 | ₩14.4 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩3,085 and the market capitalization is ₩95.1 billion. The price sits below its 20-day moving average (₩3,821) and below its 60-day moving average (₩5,067). 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 30.0, near oversold territory. The one-month change is -33.7%, the three-month change is -8.2%, and the position relative to the 52-week high is -57.6%. Relative strength versus the KOSDAQ is 89 (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 89% of all stocks. Over the past three months it outpaced the index by 18.9%. 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 +18.95% / 6M +7.97% / 12M +123.20%
Key metrics vs sector median
Valuation
The P/E of 13.53x is in line with the sector median (14.79x). The P/B of 2.23x is above the sector median (0.97x).
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)
DCF (discounted cash flow) estimate — discount rate 9.8%, 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 16.5%, above the sector average (4.0%). The operating margin is 6.5%. The debt ratio is 220.7%, so the financial structure is somewhat high.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $58.4M | $58.7M | $56.8M | -3.30% ↓ slower |
| Operating profit | $1.1M | $1.1M | $3.7M | +233.40% ↑ faster |
| Net profit | -$3.1M | $15.0M | $4.7M | -68.99% |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $34.0M | $44.3M | $58.4M | $58.7M | $56.8M |
| Operating profit | $581,038 | -$2.4M | $1.1M | $1.1M | $3.7M |
| Net profit | -$9.8M | -$8.6M | -$3.1M | $15.0M | $4.7M |
| Revenue CAGR | 4-yr avg 13.70% | ||||
Revenue fell 3.3% year over year (2023 ₩88.1 billion → 2024 ₩88.6 billion → 2025 ₩85.7 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit rose 233.4% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 13.7%. The two-year revenue CAGR is -1.4%. In the most recent quarter (Q1 2026), revenue was 19.2% lower than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- ROE of 16.5% points to solid profitability.
Points to watch
- Revenue fell 3.3% year over year (3-year trend: mixed).
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2025-07-18ContractSingle supply contract (voluntary disclosure): contract amount ₩4.7 billion, 5.3% of recent revenueThe contract amount and period are key to future revenue recognition. Whether it is a one-off or a repeatable transaction shapes the medium-term reading. Source
- 2026-02-13EarningsChange of 30% or more in revenue or earnings structure (15% for large corporations): annual revenue ₩85.7 billion, operating profit ₩5.5 billion, net profit ₩7.0 billionRecently confirmed or preliminary results. Check whether they point in the same direction as the annual trend and whether any one-off factors are involved. Source
- 2025-11-28Update[Correction] New facility investment: New facility investment / (2025.11.28) New facility investment, corrected filing. Correction date 2025-11-28. 1. Filing corrected: new facility investment. 2. Filing date of the corrected document: 2025-01-24. 3. Reason for correction: adjustment of investment period and change in investment amount following a change in the final-payment date. 4. Corrected items: item, before, afterA planning document put forward directly by the company. If it contains figures, treat it as the primary basis for the forecast box; if not, read it only as a directional cue. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩3,085 | ₩3,085 | Confirmed | link |
| Latest quarterly results | revenue ₩11.0 billion, operating profit -₩0.9 billion | revenue ₩11.0 billion, operating profit -₩0.9 billion | Confirmed | link |
| Annual results | revenue ₩85.7 billion, operating profit ₩5.5 billion | revenue ₩85.7 billion, operating profit ₩5.5 billion | Confirmed | link |
| Contract disclosure text | ㆍapprox. : approx. ₩4.7 billion · revenue 5.3% | ㆍapprox. : approx. ₩4.7 billion · revenue 5.3% | Confirmed | link |
| Earnings disclosure text | revenue30%: revenue ₩85.7 billion · operating profit ₩5.5 billion · net profit ₩7.0 billion | revenue30%: revenue ₩85.7 billion · operating profit ₩5.5 billion · net profit ₩7.0 billion | Confirmed | link |
| Outlook/plan disclosure text | []: /(2025.11.28) 2025-11-28 1. 2. 2025-01-24 3. 4. | []: /(2025.11.28) 2025-11-28 1. 2. 2025-01-24 3. 4. | Confirmed | link |
| Forecast box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-06-05OwnershipOwnership-change filing
- 2026-05-27Disclosure
- 2026-05-14PeriodicQuarterly report
- 2026-05-06Disclosure
- 2026-04-29PeriodicAnnual business report (amended)
- 2026-04-29Audit report (amended)
- 2026-04-29Amended filing
- 2026-04-29PeriodicAnnual business report (amended)
- 2026-04-29Audit report (amended)
- 2026-04-29Disclosure
- 2026-04-29PeriodicAnnual business report (amended)
- 2026-04-29PeriodicAnnual business report (amended)
📖 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.