Laon Robotics designs, manufactures, and sells robot systems used in semiconductor and FPD (flat-panel display) processes, along with robotic automation systems for general industrial sites, generating revenue by supplying robots that precisely move wafers and panels inside semiconductor and display fabs and equipment that automates other production lines. In March 2026 it voluntarily disclosed a corporate value-up plan; in February there was a convertible-bond disclosure (amount ₩3.5 billion, conversion price ₩9,386); and in June it disclosed a new facility investment (₩9.69 billion, 27.11% of shareholders' equity) for cleanroom construction at a new Yongin headquarters, moving to expand its production and research base. The notable point right now is that earnings are recovering quickly, with ROE of 10.3% above the peer average and a forward P/E below the peer median as strengths, while the nature of orders swinging with customers' capex cycles, a debt ratio of 187.2%, and room for share-count growth from convertible-bond conversion all need to be watched together, so it needs confirming whether the new facility investment connects to orders.
At-a-glance assessment financial health · growth · profitability · valuation
- Revenue rose 9.3% year over year, and the pace is slowing (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 16.4% higher than a year earlier.
- ROE is 10.3% (controlling-interest basis). It is above the sector average.
- Operating margin is 7.3%.
- P/B is low versus peers too, so it looks cheap on an asset basis as well.
Ownership & governance As of 2025-12-31
Largest shareholder Kim Won-kyung 20.49% (individual)
Controlling bloc incl. related parties 37.28%
With the controlling bloc holding 37%, the ownership structure is stable.
🔎 In-depth analysis
- Laon Robotics designs, manufactures, and sells robot systems used in the processes that make semiconductors and FPDs (flat-panel displays, i.e., thin screens like LCD and OLED), as well as robotic automation systems used at general industrial sites.
- Put simply, it generates revenue by supplying robots that precisely move and handle wafers and panels inside semiconductor and display fabs, and equipment that automates work on other production lines.
- It is a business whose orders track customers' plant investment (capacity additions), and it holds one consolidated subsidiary.
- Because its market cap is not large, it is worth watching not only business results but also how a single individual disclosure affects financials and share count.
- The latest close is ₩8,270 and the market cap is ₩109.6 billion.
- The price sits below the 20-day line (₩10,904) and below the 60-day line (₩14,731).
- Trading beneath both the short- and mid-term moving averages, the trend is on the soft side.
- The RSI (an auxiliary gauge that compares upward and downward strength over the past 14 days on a 0-100 scale) is 27.1, close to depressed territory.
- The one-month change is -39.0%, the three-month change is -41.6%, and the position versus the 52-week high is -63.2%.
- Relative strength against the KOSDAQ is 66 (1-99, converting the past year's return versus the index while weighting recent periods more heavily; higher means stronger than the market).
- That places it in roughly the top 33% by strength among all stocks.
- Over the past three months it lagged the index by 27.2%.
- Chart reading is best done alongside trading volume and the dates on which disclosures occurred.
- On a recent annual basis, revenue was ₩53.8 billion, operating profit ₩3.9 billion, and net profit ₩3.7 billion.
- With an operating margin of 7.3% and ROE (how much is earned in a year on equity) of 10.3%, profitability is on the good side, above the peer average, and financial soundness in the assessment is moderate.
- The debt ratio (debt relative to equity) is 187.2%, so debt exceeds equity, but with a current ratio (assets convertible to cash within a year versus debt due within a year) of 1.46x, short-term payment capacity is in place.
- Calculated on last year's confirmed results, the P/E ratio (how many times a year's earnings the price is) is 29.49x and the P/B (how many times book value the price is) is 3.05x.
- On these numbers alone it may look expensive, but the company is in an earnings-inflection stretch where this year's profit jumps sharply, so it is hard to read last year's metrics straight as a 'burden.' The forward P/E that reflects this year's earnings is below the peer median, so the assessment sees the valuation as undervalued.
- In other words, judged on the earnings the company generates this year rather than last year's numbers, the price appeal is clearly on the attractive side.
- Revenue grew steadily from ₩34.5 billion in 2023 to ₩49.2 billion in 2024 and ₩53.8 billion in 2025, an average of about 25% a year over two years.
- The year-over-year growth rate (+9.3%) moderated somewhat, but the trend itself is upward.
- What deserves more attention is earnings.
- Operating profit accelerated from ₩2.0 billion in 2023 to ₩3.9 billion in 2025, up about 41% a year on average over two years, and in the most recent Q1 2026, revenue was ₩14.2 billion (+16.4%) and operating profit ₩900 million, with operating profit jumping sharply versus the same period a year earlier (rising from near-zero profit in the prior-year Q1 into a full profit stretch).
- Earnings are reviving because, backed by capex from semiconductor and display customers, revenue is growing and the portion above fixed costs is quickly attaching as profit.
- On top of this, capacity-expansion investment such as the new Yongin headquarters cleanroom is building up the capacity to take on orders.
- This year's lower forward P/E also reflects this earnings recovery, and it is natural to read it as a flow where this year's profit climbs back onto a normal track from last year's low base.
- In terms of disclosures, materials in which the company itself set its direction have followed one after another.
- On March 27, 2026, a corporate value-up plan (voluntary disclosure) had the company itself state a direction for enhancing value, and on February 23 there was a convertible-bond disclosure (amount ₩3.5 billion, conversion price ₩9,386).
- Because convertible bonds may later convert into shares, it is enough to watch together the purpose of the incoming funds and the change in share count.
- On June 18, a new facility investment (investment amount ₩9.69 billion, 27.11% of shareholders' equity) for cleanroom construction at the new Yongin headquarters was disclosed, so actual investment execution to expand the production and research base has begun.
- Whether this facility investment leads on to future orders and revenue is the next point to confirm.
- The strengths are clear.
- Earnings are recovering quickly, with ROE of 10.3% putting profitability above the peer average, and this year's earnings-based forward P/E is below the peer median, a stretch with price appeal.
- As long as the demand base of semiconductor and display capex holds up, the structure in which grown revenue attaches well as profit works strongly.
- On the other side, this business has the nature of orders swinging with customers' capex cycles, so if the investment mood cools, the pace of revenue and profit growth may slow together.
- Also, the debt ratio at 187.2% is on the high side, and share count could rise if convertible bonds convert into shares, both points to keep in mind.
- In sum, this is a name where, if customer capex continues and the new facility investment connects to orders, the low forward P/E works straight as appeal, and conversely, in a phase where the capex cycle turns down, the momentum of earnings growth may weaken.
🔎 Valuation vs peers Undervalued
A market-cap-adjacent peer set within robotics.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| N Robotics | 20.31x | 1.63x | 8.03% |
| TXR Robotics | — | 2.38x | -27.69% |
| Now Robotics | — | 10.12x | -51.50% |
We looked first at a public-data peer set with a comparable market cap within robotics. The current P/E is 29.49x and the P/B is 3.05x. Because lower-cap names are heavily affected by earnings swings and financing disclosures, we did not draw a firm conclusion from last year's confirmed-results metrics alone. The basis for the forecast box is a DART seasonality approximation.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩63.7 billion | ₩63.2 billion | ₩25.8 billion |
| Next quarter | Q2 2026 | ₩15.5 billion | ₩23.5 billion | ₩10.5 billion |
Price history Close · MA20 · MA60
The latest close is ₩8,270 and the market capitalization is ₩109.6 billion. The price sits below its 20-day moving average (₩10,904) and below its 60-day moving average (₩14,731). 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 27.1, near oversold territory. The one-month change is -39.0%, the three-month change is -41.6%, and the position relative to the 52-week high is -63.2%. Relative strength versus the KOSDAQ is 66 (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 67% of all stocks. Over the past three months it lagged the index by 27.2%. 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 -27.23% / 6M -33.08% / 12M +10.91%
Key metrics vs sector median
Valuation
The P/E is 29.49x. The P/B of 3.05x is below the sector median (6.92x). 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.
Intrinsic value (DCF estimate)
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
The operating margin is 7.3%. The debt ratio is 187.2%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $22.9M | $32.6M | $35.7M | +9.35% ↓ slower |
| Operating profit | $1.3M | $1.6M | $2.6M | +58.91% ↑ faster |
| Net profit | $1.5M | $3.5M | $2.4M | -29.44% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $24.4M | $39.4M | $22.9M | $32.6M | $35.7M |
| Operating profit | $3.5M | $5.9M | $1.3M | $1.6M | $2.6M |
| Net profit | $3.9M | $5.0M | $1.5M | $3.5M | $2.4M |
| Revenue CAGR | 4-yr avg 9.94% | ||||
Revenue rose 9.3% year over year (2023 ₩34.5 billion → 2024 ₩49.2 billion → 2025 ₩53.8 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit rose 58.9% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 9.9%. The two-year revenue CAGR is 24.9%. In the most recent quarter (Q1 2026), revenue was 16.4% higher than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
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 10.3% points to solid profitability.
Points to watch
- Revenue rose 9.3% year over year, and the pace is slowing (3-year trend: rising).
Recent news & events searched · sourced
- 2026-03-27UpdateCorporate value-up plan (voluntary disclosure): company plan, original text confirmedThis is planning data the company itself presented. If it contains figures, we treat it as a primary basis for the forecast box; if not, we treat it only as directional data. Source
- 2026-02-23UpdateAcquisition of bonds before maturity after issuance of convertible bonds (including overseas convertible bonds): bond-related amount ₩3.5 billion, conversion price ₩9,386This is a disclosure where the purpose of the incoming funds and the change in share count must be weighed together. When a facility or operating purpose is specified, whether the investment is actually executed and connects to revenue is the key point. Source
- 2026-06-18UpdateNew facility investment, etc.: new facility investment, etc. / (2026.06.18) new facility investment, etc., new facility investment, etc., 1. investment type: new facility investment, 2. investment details: investment amount (won) 9,690,000,000, shareholders' equity (won) 35,744,236,363, ratio to equity (%) 27.11, large-corporation status: KOSDAQ-listed corporation, 3. investment purpose: cleanroom construction at new Yongin headquarters, 4. investment period: start dateThis is planning data the company itself presented. If it contains figures, we treat it as a primary basis for the forecast box; if not, we treat it only as directional data. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩8,270 | ₩8,270 | Confirmed | link |
| Latest quarterly results | revenue ₩14.2 billion, operating profit ₩0.9 billion | revenue ₩14.2 billion, operating profit ₩0.9 billion | Confirmed | link |
| Annual results | revenue ₩53.8 billion, operating profit ₩3.9 billion | revenue ₩53.8 billion, operating profit ₩3.9 billion | Confirmed | link |
| Outlook/plan disclosure (original text) | : | : | Confirmed | link |
| Financing disclosure (original text) | : ₩3.5 billion · ₩9,386 | : ₩3.5 billion · ₩9,386 | Confirmed | link |
| Outlook/plan disclosure (original text) | : /(2026.06.18) 1. 2. 9,690,000,000 35,744,236,363 (%) 27.11 3. 4. | : /(2026.06.18) 1. 2. 9,690,000,000 35,744,236,363 (%) 27.11 3. 4. | Confirmed | link |
| Forecast box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-05-27OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-22Disclosure
- 2026-05-19OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-14PeriodicQuarterly report
- 2026-04-30EarningsFair-disclosure notice
- 2026-04-01OwnershipOwnership-change filing
- 2026-03-27Disclosure
- 2026-03-26Shareholders' meeting notice
- 2026-03-20OwnershipOfficers'/major-shareholders' holdings report
- 2026-03-18PeriodicAnnual business report
- 2026-03-18Audit report
- 2026-03-11Disclosure
📖 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.