Tonymoly (214420) 🔎 In-depth
KOSPI · Price as of 2026-08-06 · Updated 2026-08-09
Tonymoly plans, distributes and sells its own cosmetics brands, with its subsidiary Megacos manufacturing directly, and sells overseas through Chinese entities; it also runs pet snacks (Baypet, Ocean) and a new-technology venture-finance business as side lines, so although it is grouped under chemicals, its essence is a cosmetics consumer-goods company. Results disclosures in February 2026 confirmed full-year revenue of ₩220.3 billion, operating profit of ₩14.4 billion and net profit of ₩11.1 billion, along with Q1 revenue of ₩52.0 billion, operating profit of ₩4.2 billion and net profit of ₩3.7 billion. What stands out most recently is the strength that revenue grows more than 20% each year as operating profit grows with it, and with last year's P/E of 9.8x, a P/B of 0.93x and a lower forward P/E, the share price is cheap versus peers relative to earnings; but with a debt ratio of 92% and a current ratio of 97.8% the balance sheet is not very comfortable, and since net profit has swung around year to year, whether growth and margin improvement continue will decide the appeal.
This page organises public market and filing data for information purposes. It is not a recommendation to buy or sell, nor investment advice. Metrics labelled “forward” are our own unverified estimates. Please verify with the original DART filings and decide at your own responsibility.
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 24.4% year over year, and the pace is quickening (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 6.3% higher than a year earlier.
- ROE is 10.9% (controlling-interest basis). It is above the sector average.
- Operating margin is 6.7%.
- The P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Bae Hae-dong 27.81% (individual)
Controlling bloc incl. related parties 53.01%
With the controlling bloc holding 53%, control is very secure but the free float is thin.
🔎 In-depth analysis Reading
Tonymoly is a company that makes and sells its own cosmetics brands. The parent plans, distributes and sells the cosmetics, while its subsidiary Megacos manufactures them directly. It also sells overseas through Chinese entities (Tonymoly Qingdao, Megacos Shanghai). Beyond cosmetics, it runs the manufacture and sale of pet snacks through the subsidiaries Baypet and Ocean, and a new-technology venture-finance business (discovering and investing in promising venture companies). In short, the large earnings axis is 'making its own brand cosmetics and selling them at home and abroad,' with pet snacks and venture investment attached as side lines. By industry classification it is grouped under chemicals, but the essence of the actual business is cosmetics consumer goods.
The latest close is ₩5,480 and the market capitalization is ₩131.8 billion. The price sits above its 20-day moving average (₩5,185) and below its 60-day moving average (₩5,552). 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 56.2, a neutral level. The one-month change is -0.2%, the three-month change is -25.0%, and the position relative to the 52-week high is -53.2%. Relative strength versus the KOSPI is 6 (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 5% of all stocks. Over the past three months it lagged the index by 10.1%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Latest full-year revenue was ₩220.3 billion, operating profit ₩14.4 billion and net profit ₩11.1 billion. The operating margin is 6.5% and ROE (how much is earned on equity in a year) is 9.4%, above the peer average. The debt ratio (borrowings versus equity) is a somewhat high 192.0% and the current ratio (assets that can be turned into cash quickly versus debt due within a year) is 97.8%, so the balance sheet is more 'ordinary' than 'very solid.' On valuation, the P/E ratio on last year's confirmed earnings (how many times a year's earnings the share price is) is 12.66x and P/B (how many times book value the share price is) is 1.10x, trading below book value. But because this company is at an inflection where earnings are rising quickly, the forward P/E converted from this year's expected earnings is a truer picture than the P/E on last year's numbers alone. On this year's expected earnings, the forward P/E falls on the low side even against peers. On our assessment, the valuation is marked 'Fairly valued.'
The growth trajectory is the core of this company. Revenue rose from ₩151.1 billion in 2023 to ₩177.0 billion in 2024 and ₩220.3 billion in 2025, and last year's growth rate of +24.4% was actually faster than the prior year (+17.1%), a two-year average of +20.7%. Operating profit also grew steadily, from ₩9.6 billion to ₩12.1 billion to ₩14.4 billion. In the most recent quarter, Q1 2026, it posted revenue of ₩52.0 billion (+6.3% year on year), operating profit of ₩4.2 billion (+14.2%) and net profit of ₩3.7 billion (+110.6%). Reflecting this Q1 start and the results trend of recent years, this year's estimates are about ₩234.8 billion in revenue, about ₩25.0 billion in operating profit and about ₩28.1 billion in net profit. It is a picture of margins improving as revenue growth continues, so we see operating profit stepping up from ₩14.4 billion last year to around ₩25.0 billion this year. Cosmetics demand and the in-house manufacturing base (Megacos) supporting core-business growth underpin these figures. For reference, there is no evidence that earnings will fall below this year's level from next year, so there is no signal to declare this year's results a 'one-time flash peak.'
Recent disclosures are all results-related. Through the 'preliminary operating results on a consolidated basis' and the 'preliminary settlement announcement' on 2026-02-27, Q1 2026 revenue of ₩52.0 billion, operating profit of ₩4.2 billion and net profit of ₩3.7 billion were confirmed, and on the same day, a 'change of 30% or more in revenue or profit structure' disclosure reported full-year revenue of ₩220.3 billion, operating profit of ₩14.4 billion and net profit of ₩11.1 billion. The 30%-change disclosure is a mandatory filing made when profit differs greatly from the prior year, and here it moves in the same direction as the growth. When reading disclosures, it helps to check whether they point the same way as the annual flow and whether one-off factors are mixed in.
The strengths are clear. Core-business growth continues, with revenue rising more than 20% each year and operating profit growing with it, and with last year's P/E of 9.8x, a P/B of 0.93x and a lower forward P/E on this year's expected earnings, the share price is cheap versus peers relative to earnings. At 9.4% ROE, its profitability on equity is also above the peer average. On the other hand, the points to check are that with a debt ratio of 92% and a current ratio of 97.8% the balance sheet is not very comfortable, and that net profit has swung around year to year (jumping sharply in 2024, then falling in 2025). In sum, it is a name where, if revenue and operating-profit growth continues and margin improvement supports it, today's low forward P/E works straight through as a strength, and conversely, if growth slows or the balance-sheet burden comes into focus, that appeal weakens. The price has been pushed down heavily over six months and sits in an oversold RSI zone, a place to watch for the results flow and the price to realign.
🔎 Valuation vs peers Undervalued
Peers near it by market capitalization within chemicals.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Nano | 12.61x | 2.20x | 16.46% |
| HDC Hyundai EP | 3.82x | 0.35x | 8.49% |
| Taekyung Industrial | 8.16x | 0.43x | 7.64% |
We looked first at public-data peers close by market capitalization within chemicals. The current P/E ratio (how many times a year's earnings the share price is) is 11.84x and P/B (how many times book value the share price is) is 1.10x. That said, for lower-cap names, earnings swings and financing disclosures have a large impact, so we did not draw firm conclusions from metrics based on last year's confirmed 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 | ₩234.8 billion | ₩25.0 billion | ₩28.1 billion |
| Next quarter | Q2 2026 | ₩61.8 billion | ₩9.1 billion | ₩6.8 billion |
Price history Close · MA20 · MA60
The latest close is ₩5,480 and the market capitalization is ₩131.8 billion. The price sits above its 20-day moving average (₩5,185) and below its 60-day moving average (₩5,552). 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 56.2, a neutral level. The one-month change is -0.2%, the three-month change is -25.0%, and the position relative to the 52-week high is -53.2%. Relative strength versus the KOSPI is 6 (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 5% of all stocks. Over the past three months it lagged the index by 10.1%. 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 -10.08% / 6M -50.08% / 12M -73.99%
Key metrics Computed vs sector median
Valuation
The P/E of 11.84x is below the sector median (14.15x). The P/B of 1.10x is above the sector median (0.90x). That said, this P/E is based on last year's (trailing) results. With recent quarterly earnings up sharply, the trailing P/E can look higher than it really is, so a precise read is best done on this year's expected (forward) earnings.
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 10.9%, above the sector average (4.0%). The operating margin is 6.7%. The debt ratio is 87.8%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $106.1M | $124.3M | $154.7M | +24.45% ↑ faster |
| Operating profit | $6.8M | $8.5M | $10.1M | +18.70% ↓ slower |
| Net profit | $2.6M | $11.5M | $7.8M | -31.99% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $80.5M | $89.0M | $106.1M | $124.3M | $154.7M |
| Operating profit | -$9.5M | -$5.1M | $6.8M | $8.5M | $10.1M |
| Net profit | -$4.9M | -$57,318 | $2.6M | $11.5M | $7.8M |
| Revenue CAGR | 4-yr avg 17.73% | ||||
Revenue rose 24.4% year over year (2023 ₩151.1 billion → 2024 ₩177.0 billion → 2025 ₩220.3 billion), and the three-year trend is 'rising'. The pace of growth also quickened from the prior year. Operating profit rose 18.7% year over year. The pace of that profit growth is gradually easing. Over the 5 years on record, revenue compound annual growth (CAGR) is 17.7%. The two-year revenue CAGR is 20.7%. In the most recent quarter (Q1 2026), revenue was 6.3% 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.
- ROE of 10.9% points to solid profitability.
- Revenue grew 24.4% year over year, a sign of growth.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- The figures shown are based on the last annual report as of the writing date, so it is best to review the latest quarterly results and filings alongside them.
Recent news & events searched · sourced
- 2026-02-27EarningsPreliminary operating results on a consolidated basis (fair disclosure): Q1 2026 revenue ₩52.0 billion, operating profit ₩4.2 billion, net profit ₩3.7 billionRecent confirmed or preliminary results. Check whether they point the same way as the annual flow and whether any one-off factors are present. Source
- 2026-02-27EarningsChange of 30% or more (15% for large corporations) in revenue or profit structure: annual revenue ₩220.3 billion, operating profit ₩14.4 billion, net profit ₩11.1 billionRecent confirmed or preliminary results. Check whether they point the same way as the annual flow and whether any one-off factors are present. Source
- 2026-02-23EarningsPreliminary settlement announcement (notice disclosure): Q1 2026 revenue ₩52.0 billion, operating profit ₩4.2 billion, net profit ₩3.7 billionRecent confirmed or preliminary results. Check whether they point the same way as the annual flow and whether any one-off factors are present. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩5,480 | ₩5,480 | Confirmed | link |
| Latest quarterly results | revenue ₩52.0 billion, operating profit ₩4.2 billion | revenue ₩52.0 billion, operating profit ₩4.2 billion | Confirmed | link |
| Annual results | revenue ₩220.3 billion, operating profit ₩14.4 billion | revenue ₩220.3 billion, operating profit ₩14.4 billion | Confirmed | link |
| Results disclosure (original text) | 2026 1 revenue ₩52.0 billion · operating profit ₩4.2 billion · net profit ₩3.7 billion | 2026 1 revenue ₩52.0 billion · operating profit ₩4.2 billion · net profit ₩3.7 billion | Confirmed | link |
| Results disclosure (original text) | revenue or profit structure changed by 30% or more (15% for large companies): revenue ₩220.3 billion · operating profit ₩14.4 billion · net profit ₩11.1 billion | revenue or profit structure changed by 30% or more (15% for large companies): revenue ₩220.3 billion · operating profit ₩14.4 billion · net profit ₩11.1 billion | Confirmed | link |
| Results disclosure (original text) | 2026 1 revenue ₩52.0 billion · operating profit ₩4.2 billion · net profit ₩3.7 billion | 2026 1 revenue ₩52.0 billion · operating profit ₩4.2 billion · net profit ₩3.7 billion | Confirmed | link |
| Outlook-box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-29Corporate governance report
- 2026-05-19PeriodicQuarterly report (amended)
- 2026-05-15PeriodicQuarterly report
- 2026-03-31Disclosure
- 2026-03-31Disclosure
- 2026-03-31Shareholders' meeting notice
- 2026-03-23PeriodicAnnual business report
- 2026-03-23Audit report
- 2026-03-16Amended filing
- 2026-03-13Disclosure
- 2026-03-13Shareholders' meeting notice
- 2026-03-13Shareholders' 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.