GC Wellbeing serves hospitals and clinics as its main customers and earns money along three lines: prescription drugs such as human-placenta, antioxidant and vitamin injectables; health functional foods for clinics; and medical devices such as skin boosters and fillers. Full-year 2025 revenue was ₩164.7 billion, with operating profit of ₩17.3 billion and net profit of ₩10.0 billion, a growing picture, while Q1 2026 revenue jumped to ₩49.1 billion as the top line expanded sharply, but net profit came in at -₩3.0 billion, a loss, even as operating profit stayed positive. The key point to watch: if revenue growth continues and the Q1 loss is confirmed to be a non-operating one-off, the below-peer P/E and P/B plus the recently pulled-back price bring undervaluation appeal back to life, but if losses recur or the burden from a 197.2% debt ratio grows, that appeal can fade.
At-a-glance assessment financial health · growth · profitability · valuation
- Revenue rose 23.1% year over year, and the pace is holding steady (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 41.3% higher than a year earlier.
- ROE is 8.9% (total-net basis). It is above the sector average.
- Operating margin is 10.5%.
Ownership & governance As of 2025-12-31
Largest shareholder GC Biopharma 22.08% (corporate)
Controlling bloc incl. related parties 40.35%
With the controlling bloc holding 40%, the ownership structure is stable.
🔎 In-depth analysis
- GC Wellbeing serves hospitals and clinics as its main customers and earns money along three lines.
- The first is prescription drugs, centered on injectables such as human-placenta, antioxidant, vitamin and mineral injections.
- The second is health functional foods for clinics, supplying vitamins, probiotics and the like.
- The third is medical devices such as skin boosters and fillers, along with R&D on pharmaceutical and natural-material ingredients.
- On a standalone basis, 2025 revenue was ₩151.9 billion, up about 18.8% from ₩127.9 billion the prior year, with sales channels made up of hospitals/clinics and pharmaceutical wholesalers.
- As a small-to-mid-cap in the ₩130 billion range, it is worth watching not just the usual business flow but also the effect each results and capital-raising disclosure has on the balance sheet and share count.
- The latest close is ₩7,630 and the market cap is ₩137.1 billion.
- The price sits below the 20-day line (₩8,014) and below the 60-day line (₩10,276).
- Trading below both the short- and mid-term moving averages, the trend is on the soft side.
- The RSI (a supplementary gauge that scores upward versus downward momentum over the past 14 days on a 0-100 scale) is 37.4, a neutral level.
- It is down 2.8% over one month, down 45.2% over three months, and sits 49.5% below its 52-week high.
- Relative strength versus the KOSDAQ is 62 (on a 1-99 scale, converting the past year's return against the index with more recent weight; higher means stronger than the market), placing it in roughly the top 38% of all stocks by strength.
- Over the past three months it lagged the index by 23.4%.
- Chart reading is best done alongside volume and disclosure dates.
- Latest annual revenue is ₩164.7 billion, with operating profit of ₩17.3 billion and net profit of ₩10.0 billion, and an operating margin of 10.5%.
- ROE (how much is earned in a year on shareholders' equity) is 8.9%, above the sector average.
- The P/E (how many times one year's profit the price is) is 13.69x and the P/B (how many times book value the price is) is 1.22x, which is on the low side among comparables in the same sector that are close in market cap (Cellbiotech 13.93x, Hitech Pharm 11.78x, Dong Wha Pharm 15.24x), so on the diagnosis this reads as undervalued.
- A double-digit P/E may look expensive, but it is a common level in pharma/bio, and for a company whose profit is growing, the same share price sees the multiple come down over time.
- The debt ratio (debt against shareholders' equity) is 197.2%, on the somewhat high side, so the debt burden can be checked alongside an interest-coverage ratio (how many times operating profit covers interest) of 3.55x.
- Revenue grew from ₩91.0 billion in 2021 to ₩164.7 billion in 2025, nearly an 80% increase over four years, and operating profit more than doubled from ₩7.8 billion to ₩17.3 billion.
- It was not just one good year: with revenue +23.1%, operating profit +33.4% and net profit +41.6%, profit is growing faster than revenue, a structure read as margin improving while injectable and health-food demand holds up.
- Q1 2026 revenue was ₩49.1 billion, up 41.3% year on year, so top-line growth continued.
- That said, Q1 operating profit was ₩4.8 billion, down slightly (-3.3%), and net profit was -₩3.0 billion, a loss; with the operating line in the black, this is likely driven by non-operating factors (valuation gains/losses, one-off costs and the like), so it is too early to call a trend from a single quarter.
- Full-year estimated operating profit this year is around ₩20.7 billion, a figure reflecting the top-line growth through Q1 and the cumulative quarterly flow.
- The most recent disclosure is the May 7, 2026 preliminary Q1 results (revenue ₩49.1 billion, operating profit ₩4.8 billion, net profit -₩3.0 billion), where the top line grew sharply but net profit swung to a loss, a point to confirm together with the next quarter's disclosure.
- Before that, a January 26, 2026 disclosure of a 30%-or-more change in annual results confirmed annual growth to revenue of ₩164.7 billion, operating profit of ₩17.3 billion and net profit of ₩10.0 billion.
- Overall, results disclosures continue to point toward rising revenue and profit, so whether the Q1 loss is a one-off can be checked in future IR and quarterly disclosures.
- The strengths are clear.
- It is a growth name whose revenue and profit have risen steadily over several years, and with a lower P/E and P/B than adjacent peers in the same sector, it sits in a zone cheap relative to profit and assets.
- On top of that the share price has fallen more than the results (-50.5% over three months, -51.9% from the 52-week high), so both valuation and price position carry little burden.
- There are also points to watch.
- With a debt ratio of 197.2% the balance sheet is 'average,' and Q1 2026 net profit came in at -₩3.0 billion, a loss.
- Operating profit was positive, so core profitability held, but whether this loss is a one-off or persists is the key variable.
- In sum, if revenue growth continues and the Q1 loss is confirmed to be a non-operating one-off, the undervaluation appeal comes back to life; conversely, if losses recur or the debt burden grows, that appeal fades.
🔎 Valuation vs peers Undervalued
Comparables with adjacent market cap within pharma/bio.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Cell Biotech | 13.79x | 1.06x | 7.69% |
| Hitech Pharm | 11.37x | 1.00x | 8.78% |
| Dong Wha Pharm | 15.98x | 0.37x | 2.29% |
Within pharma/bio, public-data comparables closest in market cap were considered first. The current P/E (how many times one year's profit the price is) is 13.69x and the P/B (how many times book value the price is) is 1.22x. That said, for lower-market-cap names, profit swings and capital-raising disclosures carry a large effect, so this was not judged on last year's confirmed-results metrics 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 | ₩215.9 billion | ₩20.7 billion | — |
| Next quarter | Q2 2026 | ₩52.6 billion | ₩5.7 billion | — |
Price history Close · MA20 · MA60
The latest close is ₩7,630 and the market capitalization is ₩137.1 billion. The price sits below its 20-day moving average (₩8,014) and below its 60-day moving average (₩10,276). 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 37.4, a neutral level. The one-month change is -2.8%, the three-month change is -45.2%, and the position relative to the 52-week high is -49.5%. Relative strength versus the KOSDAQ is 62 (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 62% of all stocks. Over the past three months it lagged the index by 23.4%. 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 -23.39% / 6M +0.29% / 12M -21.00%
Key metrics vs sector median
Valuation
The P/E of 13.69x is in line with the sector median (15.98x). The P/B of 1.22x is in line with the sector median (1.37x).
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 11.6%, 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 8.9%, above the sector average (3.0%). The operating margin is 10.5%. The debt ratio is 197.2%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | — | $88.7M | $109.1M | +23.08% |
| Operating profit | — | $8.6M | $11.5M | +33.41% |
| Net profit | — | $4.7M | $6.6M | +41.61% |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $60.3M | $72.7M | — | $88.7M | $109.1M |
| Operating profit | $5.2M | $5.6M | — | $8.6M | $11.5M |
| Net profit | $4.4M | $5.3M | — | $4.7M | $6.6M |
| Revenue CAGR | 3-yr avg 15.99% | ||||
Revenue rose 23.1% year over year, and the three-year trend is 'mixed'. Operating profit rose 33.4% year over year. Over the 4 years on record, revenue compound annual growth (CAGR) is 16.0%. In the most recent quarter (Q1 2026), revenue was 41.3% higher than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- Revenue grew 23.1% year over year, a sign of growth.
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
- 2026-05-07EarningsPreliminary operating results on a consolidated basis (fair disclosure): Q1 2026 revenue ₩49.1 billion, operating profit ₩4.8 billion, net profit -₩3.0 billionRecent confirmed or preliminary results. Check whether they point the same way as the annual trend and whether any one-off factors are present. Source
- 2026-01-26EarningsChange of 30% or more in revenue or profit structure (15% for large corporations): annual revenue ₩164.7 billion, operating profit ₩17.3 billion, net profit ₩10.0 billionRecent confirmed or preliminary results. Check whether they point the same way as the annual trend and whether any one-off factors are present. Source
- 2025-11-03EarningsPreliminary operating results on a consolidated basis (fair disclosure): Q1 2026 revenue ₩49.1 billion, operating profit ₩4.8 billion, net profit -₩3.0 billionRecent confirmed or preliminary results. Check whether they point the same way 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 | ₩7,630 | ₩7,630 | Confirmed | link |
| Latest quarterly results | revenue ₩49.1 billion, operating profit ₩4.8 billion | revenue ₩49.1 billion, operating profit ₩4.8 billion | Confirmed | link |
| Annual results | revenue ₩164.7 billion, operating profit ₩17.3 billion | revenue ₩164.7 billion, operating profit ₩17.3 billion | Confirmed | link |
| Results disclosure (original text) | : 2026 1 revenue ₩49.1 billion · operating profit ₩4.8 billion · net profit -₩3.0 billion | : 2026 1 revenue ₩49.1 billion · operating profit ₩4.8 billion · net profit -₩3.0 billion | Confirmed | link |
| Results disclosure (original text) | revenue30%: revenue ₩164.7 billion · operating profit ₩17.3 billion · net profit ₩10.0 billion | revenue30%: revenue ₩164.7 billion · operating profit ₩17.3 billion · net profit ₩10.0 billion | Confirmed | link |
| Results disclosure (original text) | : 2026 1 revenue ₩49.1 billion · operating profit ₩4.8 billion · net profit -₩3.0 billion | : 2026 1 revenue ₩49.1 billion · operating profit ₩4.8 billion · net profit -₩3.0 billion | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-05-15Disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-05-07EarningsFair-disclosure notice
- 2026-04-24Disclosure
- 2026-04-17Amended filing
- 2026-04-15Amended filing
- 2026-04-09OwnershipOwnership-change filing
- 2026-04-07Disclosure
- 2026-04-07OwnershipOwnership-change filing
- 2026-04-07OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-07OwnershipOwnership-change filing
- 2026-04-07OwnershipOfficers'/major-shareholders' holdings report
📖 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.