Jigu Holdings is a scientific and technical services company that builds and operates the information systems used by corporations and hospitals, with its business resting on two pillars: IT services and EMR (electronic medical records) systems. On May 12, 2026 the company filed a voluntary disclosure of a corporate value-up plan setting out its direction for enhancing value, and on May 8 it disclosed the results of a third-party allotment rights issue (86,377 common shares). Revenue has begun to grow again, up 24.2% in the first quarter, while a current ratio of 638.9% leaves the company with ample near-term liquidity. What stands out now is the balance of forces: the story is strong if the added revenue outgrows costs and settles into profit and if the capital raised actually feeds through into investment and sales, but operating and net income are still in the red, so a turn to profit has yet to be confirmed, and continued third-party allotments and rights issues could increase the share count. Rather than being cheap or expensive, this is a stock to watch quarter by quarter for whether the inflection to profitability actually arrives.
At-a-glance assessment financial health · growth · profitability · valuation
- The most recent full-year net result was a loss.
- Revenue rose 2.2% year over year, and the pace is quickening (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 24.2% higher than a year earlier.
- ROE is -3.9% (total-net basis). It is below the sector average.
- Operating margin is -9.2%.
- P/E is hard to compute here, so this is read on P/B.
Ownership & governance As of 2025-12-31
Largest shareholder Lee Jae-woong 31.56% (individual)
Controlling bloc incl. related parties 46.5%
With the controlling bloc holding 46%, the ownership structure is stable.
🔎 In-depth analysis
- Jigu Holdings is classified in the scientific and technical services sector, and its periodic filings show the core of its business resting on two pillars: IT services (the technology and means needed to build and operate information systems) and EMR (Electronic Medical Records, a medical information system that digitizes the medical records once kept on paper charts).
- In short, it makes money by building and operating the information systems used by corporations and hospitals.
- With a market capitalization of about ₩99.7 billion, it is not a large company, so alongside the underlying trend of the business itself, a single disclosure such as a rights issue can meaningfully affect both the financials and the share count and needs to be watched.
- The latest closing price is ₩5,150 and the market capitalization is ₩84.0 billion.
- The price sits below its 20-day line (₩6,582) and below its 60-day line (₩11,701).
- Trading beneath both its short- and medium-term moving averages, the trend is subdued.
- The RSI (a supplementary gauge that compares upward and downward strength over the past 14 days on a 0-100 scale) is 23.1, close to depressed territory.
- The price is down 38.9% over one month, down 72.9% over three months, and sits 81.7% below its 52-week high.
- Its relative strength versus the KOSDAQ is 97 (on a 1-99 scale that weights recent returns against the index over the past year more heavily; higher means stronger than the market), placing it in roughly the top 3% of all stocks by strength.
- Over the past three months it has lagged the index by 62.4%.
- The chart is best read alongside trading volume and the dates of disclosures.
- For the most recent full year (2025), revenue was ₩25.6 billion, operating profit was -₩2.4 billion, and net profit was -₩1.6 billion, so the company is still in a loss-making phase.
- The operating margin was -9.2% and ROE (how much is earned in a year on equity) was -3.9%.
- Financial stability, by contrast, is sound: the debt ratio (debt relative to equity) is 124.1% and the current ratio (assets soon to be converted to cash relative to debt due within a year) is 638.9%, leaving comfortable near-term liquidity.
- The P/E ratio (how many times one year's earnings the share price is) cannot be calculated because earnings are negative, while the P/B (how many times book value the share price is) is 1.99x.
- For a loss-making company, P/B is only a reference point for position relative to asset value, so rather than declaring the stock cheap or expensive on this figure alone, it is more appropriate to watch whether it turns from loss to profit.
- The top line is reviving.
- Annual revenue fell from ₩30.8 billion in 2023 to ₩25.0 billion in 2024, then rebounded 2.2% to ₩25.6 billion in 2025, and most recently first-quarter 2026 revenue reached ₩7.0 billion, up 24.2% year on year as the pace of recovery quickened.
- If this quarterly momentum holds, full-year revenue this year would be around ₩31.5 billion, a step above last year's ₩25.6 billion and back to roughly 2023 levels.
- Earnings, however, have yet to follow: first-quarter operating profit was -₩1.6 billion and net profit was -₩0.4 billion.
- In other words, revenue has turned toward a growth phase while profitability is still at the stage of confirming a turn to the black, and whether the added revenue outgrows costs to leave a profit is the point to watch next quarter.
- For reference, there is no basis to expect results beyond this year to fall below this year's, so there is no data to treat the present as a peak.
- Recent disclosures cluster around the company's direction and its fundraising.
- On May 12, 2026 the company itself set out a corporate value-up plan through a voluntary disclosure; if it contains figures it becomes a primary basis for the outlook, and if it contains only direction it serves as a read on the company's intent.
- On May 8 it disclosed the results of a third-party allotment rights issue (86,377 common shares), and on May 22 a material-event report (amended filing) on the rights-issue decision.
- Such fundraising should be read alongside where the incoming money is used (facility or operating purposes) and the corresponding increase in the share count, and the key is whether the funds actually feed through into investment and sales.
- This stock can be summed up in one line: the top line has turned, but earnings have not yet.
- The strengths are that revenue has begun to grow again, up 24.2% in the first quarter; that a current ratio of 638.9% leaves ample near-term liquidity; and that the company has itself put forward a value-up plan.
- The cautions are clear: operating and net income are still in the red, so a turn to profit has yet to be confirmed, and continued third-party allotments and rights issues could increase the share count.
- The company is therefore strong when the added revenue outgrows costs and settles into profit and the fundraising connects to real investment and sales, and weak when losses drag on or issuance grows frequent so that only the share count rises.
- Given how deeply the price has fallen from its high, this is less a question of cheap or expensive than of watching, through quarterly results, whether the inflection to profitability actually arrives.
🔎 Valuation vs peers Fairly valued
Compared against a peer set of scientific and technical services companies with adjacent market capitalizations.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Sungdo E&C | 4.22x | 0.43x | 10.27% |
| Dohwa Engineering | 22.80x | 0.66x | 2.89% |
| JIO | — | 0.79x | -4.37% |
The primary reference was a public-data peer set of scientific and technical services companies with nearby market capitalizations. The current P/E ratio (how many times one year's earnings the share price is) cannot be confirmed, and the P/B (how many times book value the share price is) is 1.99x. That said, smaller-cap names are heavily affected by earnings swings and fundraising disclosures, so no firm conclusion was drawn from metrics based on last year's confirmed results alone. The outlook box is based on a DART seasonality approximation.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩31.5 billion | — | — |
| Next quarter | Q2 2026 | ₩8.5 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩5,150 and the market capitalization is ₩84.0 billion. The price sits below its 20-day moving average (₩6,582) and below its 60-day moving average (₩11,701). 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 23.1, near oversold territory. The one-month change is -38.9%, the three-month change is -72.9%, and the position relative to the 52-week high is -81.7%. Relative strength versus the KOSDAQ is 96 (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 97% of all stocks. Over the past three months it lagged the index by 62.4%. 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 -62.42% / 6M +47.81% / 12M +68.71%
Key metrics vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B is 1.99x.
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 -3.9%, below the sector average (4.0%). The operating margin is -9.2%. The debt ratio is 124.1%, so the financial structure is moderate.
Growth FY2025 · annual report (separate)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $20.4M | $16.6M | $17.0M | +2.21% ↑ faster |
| Operating profit | -$886,786 | -$2.1M | -$1.6M | — |
| Net profit | $428,083 | -$1.9M | -$1.1M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | $20.4M | $16.6M | $17.0M |
| Operating profit | — | — | -$886,786 | -$2.1M | -$1.6M |
| Net profit | — | — | $428,083 | -$1.9M | -$1.1M |
| Revenue CAGR | 2-yr avg -8.83% | ||||
Revenue rose 2.2% year over year (2023 ₩30.8 billion → 2024 ₩25.0 billion → 2025 ₩25.6 billion), and the three-year trend is 'mixed'. The pace of growth also quickened 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 -8.8%. The two-year revenue CAGR is -8.8%. In the most recent quarter (Q1 2026), revenue was 24.2% 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.
Recent news & events searched · sourced
- 2026-05-12UpdateCorporate value-up plan (voluntary disclosure) (2026 Jigu Holdings corporate value-up plan): company plan text confirmedThis is a planning document put forward by the company itself. If it contains figures it is treated as a primary basis for the outlook box; if not, it is treated only as a directional reference. Source
- 2026-05-22Update[Amended] material-event report (rights-issue decision): 86,377 common sharesA disclosure to be read alongside the purpose of the incoming funds and the change in the share count. Where facility or operating purposes are stated, the key is whether the investment is actually executed and connects to sales. Source
- 2026-05-08UpdateSecurities issuance results (voluntary disclosure) (third-party allotment rights issue): Jigu Holdings / securities issuance results (voluntary disclosure) / (2026.05.08) securities issuance results (voluntary disclosure) (third-party allotment rights issue) 1. Type of security: common stock 2. Method of issuance: third-party allotment rights issue 3. Details: planned shares to be issued 86,377, planned issue amount (won) 1,615,336A disclosure to be read alongside the purpose of the incoming funds and the change in the share count. Where facility or operating purposes are stated, the key is whether the investment is actually executed and connects to sales. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩5,150 | ₩5,150 | Confirmed | link |
| Latest quarterly results | revenue ₩7.0 billion, operating profit -₩1.6 billion | revenue ₩7.0 billion, operating profit -₩1.6 billion | Confirmed | link |
| Annual results | revenue ₩25.6 billion, operating profit -₩2.4 billion | revenue ₩25.6 billion, operating profit -₩2.4 billion | Confirmed | link |
| Outlook/plan disclosure text | : | : | Confirmed | link |
| Fundraising disclosure text | []: 86,377 | []: 86,377 | Confirmed | link |
| Fundraising disclosure text | : / /(2026.05.08) 1. 2. 3 3. 86,377 1,615,336 | : / /(2026.05.08) 1. 2. 3 3. 86,377 1,615,336 | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-06-10Shareholders' meeting notice
- 2026-05-28PeriodicQuarterly report
- 2026-05-26Shareholders' meeting notice
- 2026-05-26Amended filing
- 2026-05-22Material-fact report (amended)
- 2026-05-22Disclosure
- 2026-05-15OwnershipOwnership-change filing
- 2026-05-13EarningsFair-disclosure notice
- 2026-05-12Disclosure
- 2026-05-08Disclosure
- 2026-05-08Paid-in capital increase
- 2026-05-04Merger decision
📖 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.