Jeil Electric (199820) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Jeil Electric Manufacturing (Jeil Electric) makes low-voltage electrical distribution equipment used in homes, shops, and buildings—its mainstays are distribution panels that split power to each room and floor, ground-fault breakers that cut current on leakage or overload to prevent fires, and wiring devices—and it has recently been expanding into arc-fault breakers, smart distribution panels, component supply to global power-equipment maker Eaton, and power distribution for data centers. In 2025 operating profit rose (net profit fell as a one-off non-operating gain rolled off), the company maintained a ₩100-per-share dividend, and Q1 2026 net profit recovered, up 15.8%. What stands out lately is that operating profit has risen for three straight years as core earnings power improves, the balance sheet is solid, dividends are steady, and the stock is priced low versus peers on this year's expected earnings—while on the other side, an ROE of 4.2% and a net margin of 3.4% mean the margins themselves are not thick, which is also a structural feature of low-voltage distribution equipment, a business less exposed to the economic cycle.
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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 “Power Equipment” (Shipbuilding, Machinery, Defense & Power Equipment), a type typically read first through forward P/E.
Power-equipment firms make the transformers and grid gear that move electricity, and their results swing with grid-investment cycles and large project awards. Because the backlog converting into future earnings matters more than results already booked, the forward P/E — reflecting 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 5.2% year over year, and the pace is slowing (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 1.9% higher than a year earlier.
- ROE is 4.4% (controlling-interest basis). It is above the sector average.
- Operating margin is 5.9%.
- A sector-metric and in-depth research verdict — see “Valuation vs peers” below for the basis.
Ownership & governance As of 2025-12-31
Largest shareholder Kang Dong-wook 43.24% (individual)
Controlling bloc incl. related parties 60.52%
With the controlling bloc holding 61%, control is very secure but the free float is thin.
🔎 In-depth analysis Reading
Jeil Electric Manufacturing (Jeil Electric) makes low-voltage (the low voltage used in ordinary buildings) electrical distribution equipment for homes, shops, and buildings. Its main products are distribution panels that split power to each room and floor, ground-fault breakers that cut off electricity when leakage or overload occurs to prevent fires and shocks, and wiring devices such as switches and outlets. Recently it has been widening its lineup to arc-fault breakers that prevent fires caused by electrical arcs (sparks) and smart distribution panels with added communications functions, and it has extended its reach into exports and data-center power distribution, including supplying components to global power-equipment maker Eaton. In other words, the backbone of revenue is not large generation- or transmission-grade transformers but low-voltage distribution and protection equipment that safely divides and cuts electricity inside buildings. It is a business close to living infrastructure, with steady demand as long as there are buildings that use electricity.
The latest close is ₩7,440 and the market capitalization is ₩165.3 billion. The price sits above its 20-day moving average (₩6,819) and below its 60-day moving average (₩9,418). 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 -1.8%, the three-month change is -61.6%, and the position relative to the 52-week high is -64.1%. Relative strength versus the KOSDAQ is 50 (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 50% of all stocks. Over the past three months it lagged the index by 35.8%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
On a 2025 (confirmed) basis the P/E is 23.52x and the P/B is 0.99x. The multiple on last year's confirmed earnings looks high because 2025 net profit (₩6.62 billion) fell 35.8% from a year earlier, shrinking the denominator—while operating profit in the same year actually rose 32.1%. In other words, the drop in net profit was not the core business weakening but a base effect: a one-off non-operating gain booked in the prior year (2024) rolled off. The P/B, at 1.14x (1.1x on a this-year basis), is also low versus peers, so the stock is not priced expensively by either asset or earnings measures. With ROE of 4.2%, an operating margin of 6.0%, and a net margin of 3.4%, the margins themselves are not thick, but a debt ratio of 43.3% and a current ratio of 183.9% make for sound financial stability.
Revenue grew gently at about a 7.4% five-year average (₩196.0 billion in 2025, up 5.2% year on year), while operating profit rose for three straight years—₩7.7 billion in 2023, ₩8.9 billion in 2024, and ₩11.8 billion in 2025—as core earnings power clearly improved. The fall in net profit from ₩10.3 billion in 2024 to ₩6.6 billion in 2025 is the base-effect optical distortion described above (the prior-year one-off gain rolling off), and in Q1 2026 net profit turned back to recovery, rising 15.8% year on year to ₩2.9 billion even as revenue was ₩52.7 billion (+1.9%) and operating profit ₩2.5 billion (-6.2%). The forward P/E based on this year's expected earnings rests on this pattern—core operating profit rising for a third year and net profit, held down by a one-off item, returning to a normal track. On the demand side, electrical-safety regulation for buildings and industrial equipment, replacement of aging distribution panels, wider adoption of higher-value products such as arc-fault breakers and smart distribution panels, exports to Eaton, and data-center power distribution as a new demand source all support earnings. It is not explosive growth, but with core-margin improvement and net-profit normalization moving together, it is natural for this year's expected earnings to come in thicker than last year's confirmed figure.
Recent filings are mostly routine in character. On 2026-02-25 a filing on a change of 30% or more in revenue or profit/loss confirmed 2025 results (operating profit up, net profit down as a one-off non-operating gain rolled off), and on 2026-03-16 the company declared a cash dividend of ₩100 per share (a yield of about 1.0%, payout ratio of about 33.6%), continuing its dividend stance. This was followed by the business report on 2026-03-23, the shareholder-meeting results on 2026-03-31, and the Q1 report on 2026-05-15; in particular, the Q1 report showed net profit recovering, up 15.8%. Rather than surprise momentum from a large one-off order, this is a stock whose condition is checked through routine flows—quarterly results and steady dividends.
The strengths are clear. Operating profit has risen for three straight years as core earnings power clearly improves; a low debt ratio and high current ratio make for a solid balance sheet; and dividends continue steadily. The return of Q1 2026 net profit to growth also supports this picture. A point to weigh alongside is that with ROE of 4.2% and a net margin of 3.4%, the margins themselves are not thick. That, however, is a structural feature stemming from the product type—low-voltage building distribution equipment rather than generation- or transmission-grade transformers—and it is the flip side of a business that is less exposed to the cycle with steady demand. In short, this is a stock that is stronger the more core-margin improvement and net-profit normalization keep showing up in quarterly results, and one where earnings visibility can dim if margin improvement stalls or one-off non-operating swings widen again. At present the stock sits at a level priced low versus peers on this year's expected earnings.
🔎 Valuation vs peers Inconclusive
Domestic listed electrical and power-equipment makers viewable on the site—though only positioning is compared, given that Jeil Electric centers on low-voltage building distribution equipment (panels, breakers, wiring devices), a different product grade and margin structure from generation- and transmission-grade transformer and cable makers.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| HD Hyundai Electric | 37.44x | 13.19x | 37.84% |
| Iljin Electric | 27.04x | 4.66x | 19.39% |
| Gaon Cable | 49.92x | 9.22x | 11.12% |
(a) The peers—HD Hyundai Electric, Iljin Electric, and Gaon Cable—carry P/B of 7–19x and ROE of 10–36%, a high-multiple group that directly benefits from the power-grid investment cycle. Jeil Electric's P/B of 1.39x and ROE of 4.2% are markedly lower, which is better viewed as a structural difference stemming from product grade (low-voltage vs. generation/transmission-grade) and profitability than simply as 'cheap.' (b) So the large discount versus peers largely reflects a difference in business character and cannot immediately be judged undervalued. (c) The trailing P/E of 32.95x is partly high because 2025 net profit was held down by the roll-off of the prior-year one-off gain, and on a forward basis with net profit normalizing there is room for the burden to ease, so a judgment is withheld for now.
Price history Close · MA20 · MA60
The latest close is ₩7,440 and the market capitalization is ₩165.3 billion. The price sits above its 20-day moving average (₩6,819) and below its 60-day moving average (₩9,418). 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 -1.8%, the three-month change is -61.6%, and the position relative to the 52-week high is -64.1%. Relative strength versus the KOSDAQ is 50 (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 50% of all stocks. Over the past three months it lagged the index by 35.8%. 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 -35.82% / 6M +5.09% / 12M -38.00%
Key metrics Computed vs sector median
Valuation
The P/E of 24.97x is above the sector median (12.50x). The P/B of 1.05x is in line with the sector median (1.21x).
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 10.1%, 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 4.4%, above the sector average (1.0%). The operating margin is 5.9%. The debt ratio is 49.1%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $101.2M | $130.9M | $137.7M | +5.23% ↓ slower |
| Operating profit | $5.4M | $6.3M | $8.3M | +32.11% ↑ faster |
| Net profit | $5.6M | $7.2M | $4.7M | -35.84% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $103.4M | $92.8M | $101.2M | $130.9M | $137.7M |
| Operating profit | $9.0M | $5.2M | $5.4M | $6.3M | $8.3M |
| Net profit | $9.1M | $5.2M | $5.6M | $7.2M | $4.7M |
| Revenue CAGR | 4-yr avg 7.42% | ||||
Revenue rose 5.2% year over year (2023 ₩144.0 billion → 2024 ₩186.3 billion → 2025 ₩196.0 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit rose 32.1% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 7.4%. The two-year revenue CAGR is 16.7%. In the most recent quarter (Q1 2026), revenue was 1.9% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- Revenue rose 5.2% year over year, and the pace is slowing (3-year trend: rising).
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-02-25EarningsFiling on a change of 30% or more in 2025 revenue/profit-loss. Operating profit rose year on year, but net profit fell as the prior year's one-off non-operating gain rolled off.In the short term the drop in net profit may draw attention, but it is a medium-term point to interpret separately from the core-business (operating-profit) improvement. Source
- 2026-03-16Dividend2025 fiscal-year cash dividend declared. ₩100 per share (yield about 1.0%), payout ratio about 33.6%, maintaining the dividend stance.Continued stable dividends are a medium-term supportive factor that shows financial capacity and a commitment to shareholder returns. Source
- 2026-03-23Filing2025 business report filed. Confirms annual operating results and business status, including revenue of ₩196.0 billion and operating profit of ₩11.8 billion (up three years running).Reference data confirming the improving trend in core earnings power. Source
- 2026-05-15EarningsQ1 2026 report filed. Revenue ₩52.7 billion (+1.9%), operating profit ₩2.5 billion (-6.2%), net profit ₩2.9 billion (+15.8%), with net profit turning to recovery.A short-term signal for gauging whether the net-profit recovery carries through the year. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| 2025 revenue | ₩196.0 billion | (2025.12) revenue | Confirmed | link |
| 2025 operating profit up, net profit down | operating profit 117.6(+32.1%), net profit 66.2(-35.8%) | 30% | Confirmed | link |
| Dividend per share (DPS) | ₩100 | — | Confirmed | link |
| 2026 estimated net profit (annual) | approx. ₩9.0 billion(self-estimate) | — | Unverified | — |
Recent filings Source
- 2026-05-15PeriodicQuarterly report
- 2026-03-31Shareholders' meeting notice
- 2026-03-31Disclosure
- 2026-03-23PeriodicAnnual business report
- 2026-03-23Audit report
- 2026-03-17Amended filing
- 2026-03-17Disclosure
- 2026-03-16Shareholders' meeting notice
- 2026-03-16Shareholders' meeting notice
- 2026-03-16DividendCash/stock dividend decision
- 2026-02-25EarningsEarnings 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.