YJ Link is a machinery and equipment maker that builds and sells the inspection, transfer, and automation systems used in display and semiconductor manufacturing, so its revenue swings heavily with customers' capital-spending cycles and new orders. In March 2026 it made a voluntary disclosure of a single supply contract worth ₩4.1 billion (8.5% of recent revenue), and on the same day it confirmed full-year revenue of ₩46.1 billion, an operating loss of ₩3.5 billion, and a net loss of ₩3.1 billion; in April it decided to issue convertible bonds (conversion price ₩6,308) to raise ₩1.4 billion in working capital. The notable point lately is that a company that had been running losses through last year swung to both operating and net profit in the first quarter of 2026 alongside a 94% jump in revenue, and with a P/B of 1.53x it is not far above book value, a clear strength; on the other hand, this turnaround has only one quarter of evidence behind it, so it is worth weighing the chance that it was a one-off tied to a large delivery, together with the possibility of share-count dilution from the convertible bonds.
At-a-glance assessment financial health · growth · profitability · valuation
- The most recent full-year net result was a loss.
- Revenue fell 5.1% year over year (3-year trend: falling).
- Most recent quarter (Q1 2026) revenue was 94.2% higher than a year earlier.
- ROE is -4.2% (controlling-interest basis). It is below the sector average.
- Operating margin is -7.5%.
- P/E is hard to compute here, so this is read on P/B.
Ownership & governance As of 2025-12-31
Largest shareholder Park Soon-il 29.2% (individual)
Controlling bloc incl. related parties 46.42%
With the controlling bloc holding 46%, the ownership structure is stable.
🔎 In-depth analysis
- YJ Link is a machinery and equipment company that builds and sells the equipment used in the manufacturing of electronic components such as displays and semiconductors.
- Its mainstay products are the inspection, transfer, and automation systems that go into customers' production lines, so revenue swings heavily with customers' capital-spending cycles and new orders.
- Because it is a small-to-mid-cap name with a market capitalization of ₩113.9 billion, a single disclosure such as a supply contract or a financing decision can affect earnings and the share count as much as the underlying business trend, so both deserve attention.
- The latest close is ₩3,395 and the market cap is ₩96.6 billion.
- The price sits below the 20-day line (₩4,258) and below the 60-day line (₩6,208).
- Trading under both its short- and medium-term moving averages, the trend looks subdued.
- The RSI (a supplementary gauge that compares upward and downward strength over the past 14 days on a 0-100 scale) is 31.0, a neutral level.
- The one-month change is -34.6%, the three-month change is -14.2%, and the price sits -65.0% below its 52-week high.
- Relative strength versus the KOSDAQ is 65 (1-99, based on returns against the index over the past year with recent performance weighted more heavily; higher means stronger than the market).
- That places it in roughly the top 35% for strength among all stocks.
- Over the past three months it outpaced the index by 9.4%.
- It is best to read the chart alongside trading volume and the dates on which disclosures occurred.
- The most recent full-year (2025) figures show revenue of ₩46.1 billion, an operating loss of ₩3.5 billion, and a net loss of ₩3.1 billion.
- Because of the loss, a P/E based on one year of earnings cannot be calculated; instead, the P/B (how many times book value the share price is) stands at 1.53x.
- A P/B of 1.53x is not far from book value, so it is hard to call the stock expensive on that basis alone, and the assessment also views the valuation as 'fairly valued.' ROE (how much is earned in a year on equity) was -4.2% and the operating margin was -7.5%, so profitability was weak on a last-year basis; however, the current ratio (assets that will turn to cash within a year against debts due within a year) was 173.8%, so short-term liquidity looks comfortable, and the debt ratio was 165.8%.
- A loss-making company's trailing metrics tend to look temporarily poor when earnings are at a trough, so during a turn in profits the change in the current quarter carries more signal than the past numbers.
- Looking only at the annual trend, revenue eased gradually from ₩48.6 billion in 2023 to ₩48.5 billion in 2024 and ₩46.1 billion in 2025, and operating profit slipped from a profit into a loss.
- But the picture clearly changed in the most recent quarter, the first quarter of 2026.
- Quarterly revenue reached ₩14.7 billion, up 94.2% from the same period a year earlier, and operating profit of ₩1.1 billion and net profit of ₩2.6 billion both swung to positive after a full year of losses.
- In effect, a single quarter filled about a third of last year's full-year revenue (₩46.1 billion), which means orders have begun to show up as actual revenue and profit.
- This year's full-year revenue outlook of ₩89.5 billion is close to double last year's, and this is not vague hope but a figure built on the already-confirmed strong first quarter.
- The key question is whether the quarterly turnaround and revenue surge were a one-off event or a trend that continues as customers' capital spending revives, and what will decide it is the earnings and new orders in the quarters ahead.
- On March 12, 2026, the company made a voluntary disclosure of a single supply contract worth ₩4.1 billion (8.5% of recent revenue).
- The contract amount and delivery period become a direct basis for future revenue recognition, and whether such deals are one-off or recurring shapes the medium-term read.
- On the same day, in a [corrected filing], it disclosed a change in its profit-and-loss structure with full-year revenue of ₩46.1 billion, an operating loss of ₩3.5 billion, and a net loss of ₩3.1 billion, confirming last year's final results.
- On April 21, it decided to issue convertible bonds (conversion price ₩6,308) to raise ₩1.4 billion in working capital.
- This is a disclosure to read together with both the intended use of the funds and the change in share count when the bonds later convert into stock.
- The strength of this stock is clear.
- A company that had been running losses through last year swung to both operating and net profit in the first quarter of 2026 alongside a 94% jump in revenue, and at a P/B of 1.53x it sits not far above book value.
- The price has also fallen to less than half its 52-week high, so if the earnings recovery continues, the weak metrics measured against last year's loss could be rewritten quickly.
- On the other hand, the point to watch is that this turnaround has only one quarter of evidence behind it.
- If the strong first quarter came from a particular large delivery, revenue could sink again in later quarters, and if the convertible bonds convert into stock, the share count could rise.
- In sum, the stock is strong when the quarterly turnaround and orders carry into the next quarter, and weak when the first-quarter result proves a one-off and an order gap drags on.
🔎 Valuation vs peers Fairly valued
A peer set of machinery and equipment names with nearby market capitalization.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Nanoteam | 96.36x | 1.97x | 2.04% |
| GIS | — | 2.04x | -9.19% |
| Hana Technology | — | 1.00x | -5.78% |
Within machinery and equipment, public-data peers with nearby market capitalization were looked at first. The current P/E cannot be confirmed, while the P/B (how many times book value the share price is) is 1.30x. That said, for smaller-cap names the impact of earnings swings and financing disclosures is large, 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 company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩89.5 billion | — | — |
| Next quarter | Q2 2026 | ₩20.0 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩3,395 and the market capitalization is ₩96.6 billion. The price sits below its 20-day moving average (₩4,258) and below its 60-day moving average (₩6,208). 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 31.0, a neutral level. The one-month change is -34.6%, the three-month change is -14.2%, and the position relative to the 52-week high is -65.0%. Relative strength versus the KOSDAQ is 65 (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 65% of all stocks. Over the past three months it outpaced the index by 9.4%. 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 +9.39% / 6M -14.40% / 12M -54.47%
Key metrics vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 1.30x is in line with the sector median (1.44x).
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 -4.2%, below the sector average (5.0%). The operating margin is -7.5%. The debt ratio is 165.8%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $32.2M | $32.2M | $30.5M | -5.07% ↓ slower |
| Operating profit | $6.1M | -$839,630 | -$2.3M | — |
| Net profit | $4.7M | $261,387 | -$2.1M | -886.35% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | $32.2M | $32.2M | $30.5M |
| Operating profit | — | — | $6.1M | -$839,630 | -$2.3M |
| Net profit | — | — | $4.7M | $261,387 | -$2.1M |
| Revenue CAGR | 2-yr avg -2.59% | ||||
Revenue fell 5.1% year over year (2023 ₩48.6 billion → 2024 ₩48.5 billion → 2025 ₩46.1 billion), and the three-year trend is 'falling'. The rate of decline widened from the prior year. Operating results are in the red, so a swing back to profit matters more than the growth rate here. Over the 3 years on record, revenue compound annual growth (CAGR) is -2.6%. The two-year revenue CAGR is -2.6%. In the most recent quarter (Q1 2026), revenue was 94.2% higher than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- —
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- Revenue fell 5.1% year over year (3-year trend: falling).
Recent news & events searched · sourced
- 2026-03-12ContractSingle supply contract signed (voluntary disclosure): contract value ₩4.1 billion, 8.5% of recent revenueThe contract value and term are central to future revenue recognition. Whether it is a one-off or a repeatable deal shapes the medium-term read. Source
- 2026-04-21UpdateMaterial fact report (convertible bond issuance decision): conversion price ₩6,308, working capital ₩1.4 billionA disclosure to read together with the purpose of the incoming funds and the change in share count. Where a facility or operating purpose is stated, whether the investment is actually deployed and linked to revenue is the key point. Source
- 2026-03-12Earnings[Corrected filing] Change of 30% or more (15% for large corporations) in revenue or profit-and-loss structure: full-year revenue ₩46.1 billion, operating loss ₩3.5 billion, net loss ₩3.1 billionRecent confirmed or preliminary earnings data. Check whether it points in the same direction 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 | ₩3,395 | ₩3,395 | Confirmed | link |
| Latest quarterly results | revenue ₩14.7 billion, operating profit ₩1.1 billion | revenue ₩14.7 billion, operating profit ₩1.1 billion | Confirmed | link |
| Full-year results | revenue ₩46.1 billion, operating profit -₩3.5 billion | revenue ₩46.1 billion, operating profit -₩3.5 billion | Confirmed | link |
| Original text of the contract disclosure | ㆍapprox. : approx. ₩4.1 billion · revenue 8.5% | ㆍapprox. : approx. ₩4.1 billion · revenue 8.5% | Confirmed | link |
| Original text of the financing disclosure | : ₩6,308 · ₩1.4 billion | : ₩6,308 · ₩1.4 billion | Confirmed | link |
| Original text of the earnings disclosure | []revenue30%: revenue ₩46.1 billion · operating profit -₩3.5 billion · net profit -₩3.1 billion | []revenue30%: revenue ₩46.1 billion · operating profit -₩3.5 billion · net profit -₩3.1 billion | Confirmed | link |
| Basis of the outlook box | DART | DART | Confirmed | link |
Recent filings
- 2026-06-02OwnershipOwnership-change filing
- 2026-05-14PeriodicQuarterly report
- 2026-05-07Disclosure
- 2026-04-30OwnershipOwnership-change filing
- 2026-04-21Material-fact report
- 2026-04-09OwnershipOwnership-change filing
- 2026-03-27Shareholders' meeting notice
- 2026-03-19PeriodicAnnual business report
- 2026-03-19Audit report
- 2026-03-12Disclosure
- 2026-03-12Shareholders' meeting notice
- 2026-03-12EarningsAmended 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.