Suprema (236200) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Suprema is a company that handles access control and time-and-attendance management using biometric technology that reads fingerprints and faces to verify identity. It sells security hardware such as face- and fingerprint-recognition terminals and controllers, along with security software such as BioStar, and its structure is export-oriented with a large share of overseas revenue. It has a nearly debt-free financial structure with an operating margin in the 20% range and an ROE of 11.9%, and in April 2026 it disclosed a value-up plan and a treasury-share acquisition trust contract on the same day, showing its shareholder-return intent through action. What stands out lately is that even though its profitability is higher than peers, its forward P/E of 8.75x prices it more cheaply, so the undervaluation appeal is clear, whereas Q1 revenue growth slowed to single digits and operating profit edged lower, and with a large export share, quarterly results can swing with exchange rates and the timing of overseas orders.
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 “IT Hardware & Equipment” (Semiconductors & IT Components), a type typically read first through forward P/E.
IT hardware and equipment makers see orders and earnings swing with their customers' investment cycles and new-product launches, so what matters is the profit still to come, not the profit already booked. That is why forward P/E, based on expected earnings, is the first lens here.
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 26.9% year over year, and the pace is quickening (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 8.1% higher than a year earlier.
- ROE is 12.2% (controlling-interest basis). It is above the sector average.
- Operating margin is 23.2%.
- A sector-metric and in-depth research verdict — see “Valuation vs peers” below for the basis.
Ownership & governance As of 2025-12-31
Largest shareholder Suprema HQ 28.08% (corporate)
Controlling bloc incl. related parties 32.59%
With the controlling bloc holding 33%, the ownership structure is stable.
🔎 In-depth analysis Reading
Suprema is a company that handles access control and time-and-attendance management using biometric technology that reads fingerprints and faces to verify identity. Its actual revenue comes from selling security hardware, such as face- and fingerprint-recognition terminals and access controllers mounted on the doors of offices, data centers, and factories, and security software such as BioStar that manages these devices from a single screen. Armed with in-house recognition algorithms and sensors, it has an export-oriented structure with a larger share of overseas than domestic revenue, so global access-security demand, exchange rates, and the flow of overseas project orders feed directly into results. It is more accurate to see this as a 'security authentication solutions' business combining algorithms and software than as simple communications-equipment manufacturing, which is closer to how the company makes money.
The latest close is ₩60,200 and the market capitalization is ₩419.9 billion. The price sits above its 20-day moving average (₩48,960) and above its 60-day moving average (₩45,662). It holds above both its short- and medium-term moving averages, so the trend looks healthy. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 75.6, near overbought territory. The one-month change is +29.6%, the three-month change is +13.0%, and the position relative to the 52-week high is +0.0%. Relative strength versus the KOSDAQ is 88 (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 89% of all stocks. Over the past three months it outpaced the index by 69.6%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
On confirmed 2025 results, the P/E (how many times one year of profit the price represents) is 12.97x and the P/B (how many times net assets the price represents) is 1.49x. On this year's expected earnings, the forward P/E is 8.75x and the forward P/B is 1.16x, actually lower than the confirmed figures. This means it is not a stock whose trailing figures look expensive; rather, once future earnings are taken into account, the multiple comes down further. ROE (how much it earns in a year on shareholders' equity) is 11.9%, so it is turning its capital efficiently, and the operating margin is 23.8%, high for a company that sells both hardware and software. The debt ratio (debt relative to equity) is 10.6% and the current ratio is 664%, a financial structure with almost no debt burden. Given that profitability is higher than peers yet the P/E and P/B stay around 1x, the price is closer to being cheaply set relative to earnings and assets.
Over five years, revenue rose from ₩72.6 billion in 2021 to ₩137.3 billion in 2025, and operating profit roughly doubled from ₩16.2 billion to ₩32.7 billion over the same period. The five-year revenue CAGR (average annual growth converted to a one-year figure across several years) is 17.3%, and the recent two years are 20.4%, so the pace of growth has actually quickened. In 2025, revenue grew +26.9% and operating profit +40.6%, with profit rising more than the top line, confirming operating leverage. The forward P/E of 8.75x on this year's expected earnings reflects a picture in which global access-security demand continues and earnings strength holds up thanks to a business structure heavy in algorithms and software. In Q1 2026, revenue was ₩31.1 billion (+8.1%), with growth easing to single digits and operating profit down slightly to ₩5.4 billion (-5.3%), while net profit rose to ₩10.0 billion (+23.6%). This company has seasonality in which revenue and profit concentrate in Q4, so rather than a single quarter's numbers, viewing it by the annual earnings flow and on a forward basis fits the business substance better.
April 2026 was a period when shareholder-return signals were concentrated. On April 21 it disclosed a value-up plan (voluntary disclosure) and a treasury-share acquisition trust contract on the same day, showing through action its intent to raise shareholder value. On April 13 and 27 it held investor briefings (IR) to explain results and business direction directly, and the numbers were confirmed with the April 30 preliminary-results fair disclosure and the May 13 Q1 report. On June 9 a disclosure on convening an extraordinary general meeting and setting a record date came out, giving something to check on what will be handled in the second half. Overall, the flow runs 'results confirmed to shareholder returns to governance agenda.'
This is a stock with clear strengths. Beyond a nearly debt-free financial structure, an operating margin in the 20% range, and an 11.9% ROE, its shareholder-return intent showed through the treasury-share trust and the value-up plan. Above all, even though its profitability is higher than peers, its forward P/E of 8.75x prices it more cheaply, so it reads as undervalued relative to earnings, which is the key point. The variable to watch is not a weakness in the business itself but a change in flow: Q1 revenue growth eased to single digits and operating profit edged lower, and with a large export share, quarterly results can swing with exchange rates and the timing of overseas orders. In short, this is a stock with clear undervaluation appeal in a structure backed by financial stability, shareholder returns, and profitability, and in stretches where slowing quarterly growth overlaps with an exchange-rate headwind, short-term earnings volatility can rise.
🔎 Valuation vs peers Inconclusive
Suprema is grouped under 'communications and broadcasting equipment' in the KSIC, but it is in fact an access-control and biometrics security firm. Since there is essentially no pure domestic-listed peer in the same biometric access-control field, Hanwha Vision, whose security and video-surveillance equipment character is closest, is used as a reference peer, but Suprema's own profitability and valuation profile takes priority.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Hanwha Vision | 53.16x | 2.80x | 5.27% |
| RFHIC | 45.77x | 3.63x | 9.12% |
(a) The reference peers Hanwha Vision and RFHIC trade at P/Es in the 70-80x range and P/Bs of 4-6x, whereas Suprema is at a P/E of 9.4x and P/B of 1.12x, far lower multiples. That said, the two companies differ in business character from Suprema (biometric access control), so a direct multiple comparison has real limits. (b) With Suprema showing higher profitability (ROE and operating margin) yet a lower valuation, there is room to see it as in a discount range, but (c) last year's trailing P/E of 9.4x is on 2025 confirmed results when earnings were good, so applying the slower-growth 2026 forward flow (annual operating profit of about ₩43.5 billion on a seasonality approximation) could change the perceived multiple. Weighing the absence of a pure peer set and slowing quarterly growth together, it is left Inconclusive rather than concluding cheap or expensive.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| Next quarter | Q2 2026 | approx. ₩37.9 billion | approx. ₩9.9 billion | approx. ₩8.5 billion |
Price history Close · MA20 · MA60
The latest close is ₩60,200 and the market capitalization is ₩419.9 billion. The price sits above its 20-day moving average (₩48,960) and above its 60-day moving average (₩45,662). It holds above both its short- and medium-term moving averages, so the trend looks healthy. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 75.6, near overbought territory. The one-month change is +29.6%, the three-month change is +13.0%, and the position relative to the 52-week high is +0.0%. Relative strength versus the KOSDAQ is 88 (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 89% of all stocks. Over the past three months it outpaced the index by 69.6%. 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 +69.59% / 6M +94.76% / 12M +80.96%
Key metrics Computed vs sector median
Valuation
The P/E of 12.97x is in line with the sector median (12.60x). The P/B of 1.49x is above the sector median (0.83x).
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) Estimate
Model output — not a price target. This is what the formula returns under the assumptions below, not a view on where the share price should go.
DCF (discounted cash flow) estimate — discount rate 10.1%, initial growth 10.0%→terminal 2.0%, 10-yr forecast, free-cash-flow basis, forward earnings power normalized 1.482x. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 12.2%, above the sector average (3.0%). The operating margin is 23.2%. The debt ratio is 7.0%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $66.5M | $76.0M | $96.5M | +26.86% ↑ faster |
| Operating profit | $11.7M | $16.4M | $23.0M | +40.62% ↑ faster |
| Net profit | $16.1M | $22.8M | $22.7M | -0.34% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $51.0M | $62.8M | $66.5M | $76.0M | $96.5M |
| Operating profit | $11.4M | $12.5M | $11.7M | $16.4M | $23.0M |
| Net profit | $15.9M | $12.6M | $16.1M | $22.8M | $22.7M |
| Revenue CAGR | 4-yr avg 17.28% | ||||
Revenue rose 26.9% year over year (2023 ₩94.6 billion → 2024 ₩108.2 billion → 2025 ₩137.3 billion), and the three-year trend is 'rising'. The pace of growth also quickened from the prior year. Operating profit rose 40.6% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 17.3%. The two-year revenue CAGR is 20.4%. In the most recent quarter (Q1 2026), revenue was 8.1% 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 12.2% points to solid profitability.
- Revenue grew 26.9% year over year, a sign of growth.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- The price is near its 52-week high, so chasing it warrants caution around volatility.
Recent news & events searched · sourced
- 2026-04-21FilingValue-up plan (voluntary disclosure) announced — a voluntary disclosure to enhance shareholder valueMedium term: it becomes a yardstick for gauging the direction of shareholder returns such as dividends and buybacks. Coming out the same day as the treasury-share trust contract, it underpins the intent to execute. Source
- 2026-04-21UpdateDecision to sign a treasury-share acquisition trust contract — for price stabilization and enhancing shareholder valueFavorable for short-term supply-demand, and with buybacks proceeding over the trust period, it eases the free-float burden. Source
- 2026-04-30EarningsFair disclosure of operating (preliminary) results on a consolidated basis — Q1 results confirmedShort term: revenue of ₩31.1 billion (+8.1%), operating profit of ₩5.4 billion (-5.3%), and net profit of ₩10.0 billion (+23.6%) were confirmed, showing slowing growth and improving net profit together. Source
- 2026-05-13FilingQuarterly report (2026.03) filed — Q1 confirmed financial statements disclosedMedium term: the official material verifying the details of the preliminary results, allowing a look at the by-segment and overseas revenue structure. Source
- 2026-06-09FilingResolution to convene an extraordinary general meeting and set a record date — a preview of second-half meeting agenda itemsMedium term: since the effect varies with the agenda to be handled (articles of incorporation, governance, shareholder returns, etc.), the items in the convening notice need checking. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| 2025 annual operating margin | 23.8% | operating profit ₩32.7 billion ÷ revenue ₩137.3 billion = 23.8% | Confirmed | link |
| Q1 2026 revenue and operating profit | revenue ₩31.1 billion·operating profit ₩5.4 billion | revenue ₩31.1 billion(+8.1%)·operating profit ₩5.4 billion(-5.3%) | Confirmed | link |
| Debt ratio | 10.6% | ₩28.8 billion ÷ ₩271.1 billion = 10.6% | Confirmed | link |
| 2026 seasonality-approximated annual operating profit | approx. ₩43.5 billion | — | Unverified | link |
Recent filings Source
- 2026-06-09Disclosure
- 2026-06-09Shareholders' meeting notice
- 2026-06-04Disclosure
- 2026-06-02OwnershipOwnership-change filing
- 2026-05-13PeriodicQuarterly report
- 2026-04-30EarningsFair-disclosure notice
- 2026-04-27Disclosure
- 2026-04-21Disclosure
- 2026-04-21TreasuryMaterial-fact report
- 2026-04-13Disclosure
- 2026-04-01OwnershipOwnership-change filing
- 2026-03-30Shareholders' 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.