Clio (237880) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Clio runs its own brands centered on color cosmetics (its industry classification is chemicals, but in substance it makes and sells makeup and skincare), a business whose revenue and margins swing easily by quarter with new products, marketing, and channel mix. Full-year 2025 revenue of ₩328.9 billion, operating profit of ₩16.4 billion, and net profit of ₩13.6 billion were confirmed, and in Q1 2026 revenue of ₩78.3 billion, operating profit of ₩5.8 billion, and net profit of ₩6.7 billion showed operating profit swinging up 404%, putting the earnings recovery into numbers. What stands out lately is that the balance sheet is stable (debt-to-equity ratio 24%, current ratio 438%) and a forward P/E of 7.66x reflecting the recovery is low relative to peers, reading as undervalued, while the price has come down 43.7% from its 52-week high; against that, given the nature of cosmetics, it needs confirming whether Q1's large improvement carries into the remaining quarters with the same intensity.
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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 fell 6.4% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 4.8% lower than a year earlier.
- ROE is 7.1% (controlling-interest basis). It is above the sector average.
- Operating margin is 6.5%.
- The forward P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Han Hyun-ok 48.57% (individual)
Controlling bloc incl. related parties 60.71%
With the controlling bloc holding 61%, control is very secure but the free float is thin.
🔎 In-depth analysis Reading
Clio runs its own brands centered on color cosmetics (its industry classification is chemicals, but in substance it makes and sells makeup and skincare). Cosmetics is a business whose revenue and margins swing easily by quarter with new products, marketing, and channel mix, so it is best to look not only at annual figures but also at the quarterly flow and recent disclosures.
The latest close is ₩11,170 and the market capitalization is ₩201.9 billion. The price sits above its 20-day moving average (₩10,546) and above its 60-day moving average (₩10,738). 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 57.3, a neutral level. The one-month change is -0.5%, the three-month change is -13.8%, and the position relative to the 52-week high is -28.0%. Relative strength versus the KOSDAQ is 61 (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 61% of all stocks. Over the past three months it outpaced the index by 29.3%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Most recent annual revenue is ₩328.9 billion, operating profit ₩16.4 billion, and net profit ₩13.6 billion. ROE (how much the company earns in a year on its equity) is 5.6%, above the sector average, and the balance sheet is solid with a debt-to-equity ratio (borrowings versus equity) of 24.0% and a current ratio (assets easily convertible to cash versus debt due within a year) of 438%. The P/E of 12.55x and P/B of 0.70x shown now are based on last year's confirmed results. For an inflection stock like Clio, whose earnings are rising again, the value recomputed on this year's recovered earnings is closer to the real picture than these past-based figures. On that basis the forward P/E is 7.66x, clearly below the median of comparable peers, which reads as an undervaluation signal. The P/B of 0.70x also puts the price on the cheap side relative to assets.
Revenue held broadly in the ₩300-billion range at ₩330.6 billion in 2023, ₩351.4 billion in 2024, and ₩328.9 billion in 2025, and earnings had been pressed down, with 2025 operating profit of ₩16.4 billion below the prior year. The key point is that earnings have strongly revived this year. Q1 2026 revenue was ₩78.3 billion, down 4.8% year over year, but operating profit rose 404% to ₩5.8 billion and net profit rose 153% to ₩6.7 billion year over year. With revenue similar yet earnings up several fold, this means product mix and cost control improved and profitability recovered. Reflecting the scale of this recovery, this year's operating profit would be around ₩30.5 billion, close to double last year's ₩16.4 billion. Since cosmetics is a business that swings each quarter, it cannot be concluded from one quarter alone, but with Q1's actual results already showing the recovery, this year's earnings improvement is no empty claim.
The disclosures center on results material. A February 13, 2026 change-in-profit-and-loss-structure disclosure confirmed full-year 2025 revenue of ₩328.9 billion, operating profit of ₩16.4 billion, and net profit of ₩13.6 billion, and a May 6 earnings pre-announcement, followed by a May 11 Q1 preliminary earnings fair disclosure, revealed revenue of ₩78.3 billion, operating profit of ₩5.8 billion, and net profit of ₩6.7 billion. Since the Q1 disclosure is the material that put the earnings recovery into numbers, the key going forward is to check whether upcoming quarterly results carry this recovery on.
The strengths are clear. The balance sheet is stable (debt-to-equity ratio 24%, current ratio 438%), earnings that had been pressed down last year swung up sharply in Q1 this year with operating profit up 404%, and the forward P/E of 7.66x reflecting that recovery is low relative to peers, reading as undervalued. The price has come down 43.7% from its 52-week high, so the earnings recovery and the share-price trend have diverged. On the other side, the point to note is that cosmetics is a business where quarterly earnings swing with new products, marketing, and channels, so it needs confirming whether Q1's large improvement carries into the remaining quarters with the same intensity. In sum, if the earnings recovery continues quarter by quarter and revenue starts to grow again, the cheap valuation stands out and the case is strong; if Q1's improvement was merely temporary cost saving and next quarter's earnings turn down again, the recovery expectation weakens.
🔎 Valuation vs peers Undervalued
A market-cap-adjacent peer set within chemicals.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| LK Chem | 28.51x | 2.03x | 8.61% |
| Hankook Cosmetics Manufacturing | 7.09x | 1.75x | 26.69% |
| Kyung Nong | 9.63x | 0.65x | 6.10% |
We first looked at a public-data peer set of near market cap within chemicals. The current P/E (how many times one year's earnings the price represents) is 14.88x and the P/B (how many times book value the price represents) is 0.82x. However, for smaller-cap stocks the effects of earnings volatility and financing disclosures are large, so we did not draw a firm conclusion from indicators 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 | ₩316.8 billion | ₩30.5 billion | ₩26.2 billion |
| Next quarter | Q2 2026 | ₩80.1 billion | ₩8.1 billion | ₩5.9 billion |
Price history Close · MA20 · MA60
The latest close is ₩11,170 and the market capitalization is ₩201.9 billion. The price sits above its 20-day moving average (₩10,546) and above its 60-day moving average (₩10,738). 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 57.3, a neutral level. The one-month change is -0.5%, the three-month change is -13.8%, and the position relative to the 52-week high is -28.0%. Relative strength versus the KOSDAQ is 61 (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 61% of all stocks. Over the past three months it outpaced the index by 29.3%. 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 +29.32% / 6M +17.90% / 12M -25.89%
Key metrics Computed vs sector median
Valuation
The P/E of 14.88x is in line with the sector median (14.15x). The P/B of 0.82x is in line with 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 7.1%, above the sector average (4.0%). The operating margin is 6.5%. The debt ratio is 36.0%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $232.2M | $246.8M | $231.1M | -6.39% ↓ slower |
| Operating profit | $23.8M | $17.3M | $11.5M | -33.19% ↓ slower |
| Net profit | $19.5M | $19.6M | $9.5M | -51.33% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $163.5M | $191.4M | $232.2M | $246.8M | $231.1M |
| Operating profit | $9.8M | $12.6M | $23.8M | $17.3M | $11.5M |
| Net profit | $6.5M | $7.1M | $19.5M | $19.6M | $9.5M |
| Revenue CAGR | 4-yr avg 9.03% | ||||
Revenue fell 6.4% year over year (2023 ₩330.6 billion → 2024 ₩351.4 billion → 2025 ₩328.9 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 33.2% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is 9.0%. The two-year revenue CAGR is -0.2%. In the most recent quarter (Q1 2026), revenue was 4.8% lower 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.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- Revenue fell 6.4% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2026-05-11EarningsOperating (preliminary) results on a consolidated basis (fair disclosure): Q1 2026 revenue ₩78.3 billion, operating profit ₩5.8 billion, net profit ₩6.7 billionRecent confirmed or preliminary results. Check whether it is in line with the annual trend and whether any one-off factors are present. Source
- 2026-05-06EarningsEarnings-announcement pre-notice: Q1 2026 revenue ₩78.3 billion, operating profit ₩5.8 billion, net profit ₩6.7 billionRecent confirmed or preliminary results. Check whether it is in line with the annual trend and whether any one-off factors are present. Source
- 2026-02-13EarningsChange of 30% or more in revenue or profit-and-loss structure (15% for large corporations): annual revenue ₩328.9 billion, operating profit ₩16.4 billion, net profit ₩13.6 billionRecent confirmed or preliminary results. Check whether it is in line with the annual trend and whether any one-off factors are present. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩11,170 | ₩11,170 | Confirmed | link |
| Latest quarterly results | revenue ₩78.3 billion, operating profit ₩5.8 billion | revenue ₩78.3 billion, operating profit ₩5.8 billion | Confirmed | link |
| Annual results | revenue ₩328.9 billion, operating profit ₩16.4 billion | revenue ₩328.9 billion, operating profit ₩16.4 billion | Confirmed | link |
| Results disclosure original text | 2026 1 revenue ₩78.3 billion · operating profit ₩5.8 billion · net profit ₩6.7 billion | 2026 1 revenue ₩78.3 billion · operating profit ₩5.8 billion · net profit ₩6.7 billion | Confirmed | link |
| Results disclosure original text | 2026 1 revenue ₩78.3 billion · operating profit ₩5.8 billion · net profit ₩6.7 billion | 2026 1 revenue ₩78.3 billion · operating profit ₩5.8 billion · net profit ₩6.7 billion | Confirmed | link |
| Results disclosure original text | revenue30%: revenue ₩328.9 billion · operating profit ₩16.4 billion · net profit ₩13.6 billion | revenue30%: revenue ₩328.9 billion · operating profit ₩16.4 billion · net profit ₩13.6 billion | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-13PeriodicQuarterly report
- 2026-05-11EarningsFair-disclosure notice
- 2026-05-06EarningsEarnings disclosure
- 2026-04-14OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-06OwnershipOfficers'/major-shareholders' holdings report
- 2026-03-31Disclosure
- 2026-03-31Shareholders' meeting notice
- 2026-03-27OwnershipOfficers'/major-shareholders' holdings report
- 2026-03-23PeriodicAnnual business report
- 2026-03-23Audit report
- 2026-03-16Shareholders' meeting notice
- 2026-03-12Shareholders' 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.