Genians (263860) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Genians supplies cybersecurity software such as NAC, which controls who can access a company network, and EDR, which detects threats on individual devices, to corporate and public-sector customers, and it has expanded overseas through its U.S. subsidiary. The company has been in the black for 21 straight years since it was founded in 2005. A February 2026 filing reported full-year 2025 revenue of ₩48.4 billion, operating profit of ₩7.0 billion and net profit of ₩7.5 billion, confirming that 2025 was a pause year, while Q1 2026 revenue of ₩11.7 billion, operating profit of ₩1.7 billion and net profit of ₩2.0 billion showed earnings turning back up. On the plus side, 21 consecutive profitable years and a 12% ROE point to a solid balance sheet, and a forward P/E of 7.95x based on recovering earnings makes the stock look cheap relative to its profits; on the cautious side, the share price sits about 60% below its 52-week high, so the market has not yet caught up, and any renewed slowdown in security demand or new orders could stretch out the recovery.
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 “Software” (Internet, Platforms & Software), a type typically read first through forward P/E.
Software scales cheaply — once a product is built, serving another customer costs little, so profit can grow quickly as revenue climbs. Early on, though, spending on development and marketing runs ahead of earnings, which makes the forward P/E — based on expected earnings — the better starting point.
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 2.5% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 25.5% higher than a year earlier.
- ROE is 14.1% (controlling-interest basis). It is above the sector average.
- Operating margin is 17.2%.
- The forward P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Lee Dong-beom 31.54% (individual)
Controlling bloc incl. related parties 39.27%
With the controlling bloc holding 39%, the ownership structure is stable.
🔎 In-depth analysis Reading
Genians makes its money from cybersecurity software that protects the networks of companies and institutions from hacking and ransomware. Although it is classified under the games and software sector, its actual business is security solutions. It develops products such as NAC (network access control), which governs who connects to a company network, and EDR (endpoint threat detection and response), which catches threats on devices like employee PCs, and supplies them to domestic and overseas companies and public institutions, expanding abroad through a U.S. subsidiary established in 2016. It has been profitable for 21 straight years since its founding in 2005, and the company states that its average annual revenue growth over that period was 22.4%. With a market cap of roughly ₩104.8 billion, this is a small company, so it helps to look at the business itself alongside the effect each individual filing has on earnings and the share count.
The latest close is ₩15,300 and the market capitalization is ₩138.9 billion. The price sits above its 20-day moving average (₩12,636) and above its 60-day moving average (₩13,615). 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 68.2, a neutral level. The one-month change is +23.1%, the three-month change is -3.6%, and the position relative to the 52-week high is -46.9%. Relative strength versus the KOSDAQ is 64 (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 64% of all stocks. Over the past three months it outpaced the index by 44.2%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Full-year 2025 revenue was ₩48.4 billion, with operating profit of ₩7.0 billion and net profit of ₩7.5 billion. The operating margin was 14.5% and ROE (how much is earned in a year on shareholders' equity) was 12.0%, both signs of healthy profitability, and while the debt ratio was 29.2%, a current ratio of 622% and interest coverage of 15.6x leave ample capacity to service debt. On the site's diagnostics, financial soundness is rated 'stable' and profitability 'healthy'. Based on last year's confirmed results, the P/E is 14.55x and the P/B is 1.75x, but in an inflection phase like this one, where earnings dipped for a year and are now climbing back, the picture from recovered earnings matters more than a P/E calculated on past results. The forward P/E on recovering earnings is 6.24x, low compared with peers in the same sector, which reads as a signal that the share price is cheap relative to its profits.
Revenue rose from ₩31.9 billion in 2021 to ₩48.4 billion in 2025. That said, 2025 was a breather year, with revenue down 2.5%, operating profit down 28.8% and net profit down 31.3% from the prior year. The turn came in Q1 2026. Q1 revenue was ₩11.7 billion, up 25.5% from the same period a year earlier, operating profit jumped sharply to ₩1.7 billion from a low base of around ₩0.1 billion, and net profit more than doubled to ₩2.0 billion. Reviving demand for security solutions and a higher mix of high-margin products fed the earnings recovery. Carrying this pace across the full year implies roughly ₩64.6 billion in revenue, about ₩16.5 billion in operating profit and about ₩17.5 billion in net profit, and the forward P/E on those earnings is 5.99x. Given the company's small size, quarterly figures can swing, but the earnings recovery actually confirmed in Q1 is the basis for this year's outlook. There is nothing in the current data to suggest earnings from next year onward would fall below this year's level.
On March 25, 2026, the company filed a voluntary disclosure of its own corporate-value enhancement plan. Since this is a forward-looking document put out by the company itself, it serves as a clue to gauge direction. On February 23, 2026, an earnings-change filing reported full-year revenue of ₩48.4 billion, operating profit of ₩7.0 billion and net profit of ₩7.5 billion, confirming that 2025 was a step down from the prior year. On August 1, 2025, preliminary results for Q1 2026 were disclosed showing revenue of ₩11.7 billion, operating profit of ₩1.7 billion and net profit of ₩2.0 billion, and these figures are the starting point of the earnings recovery noted above. It helps to read these filings together to check whether they point the same way as the annual trend and whether any one-off factors are involved.
The strengths are clear. With 21 straight profitable years and a 12% ROE, profitability is healthy, and a high current ratio and interest coverage make the balance sheet solid; earnings that dipped briefly in 2025 have been confirmed by actual results to be reviving in Q1 2026. The forward P/E of 7.95x on recovering earnings is low relative to the sector, so on an earnings basis the stock sits cheap. Meanwhile, the market has not yet caught up: the price is about 60% below its 52-week high and remains under its moving averages. In short, if the earnings recovery confirmed in Q1 continues through the remaining quarters, the appeal implied by the low forward P/E becomes sharper; conversely, a renewed slowdown in security demand or new orders could slow the recovery. Given the small market cap, it helps to keep track of earnings filings and changes in the share count.
🔎 Valuation vs peers Undervalued
Peers with nearby market caps within the games and software sector.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Atton | 68.56x | 1.07x | 1.51% |
| VUNO | — | 2.78x | -16.00% |
| Neptune | — | 0.35x | -12.91% |
Within games and software, the comparison drew first on public-data peers with nearby market caps. The current P/E is 14.55x and the P/B is 1.75x. Because smaller-cap names are heavily affected by swings in earnings and by financing-related filings, the read does not rest on last year's confirmed results alone. The basis for the outlook box is DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩64.6 billion | ₩16.5 billion | ₩17.5 billion |
| Next quarter | Q2 2026 | ₩14.9 billion | ₩2.6 billion | ₩3.4 billion |
Price history Close · MA20 · MA60
The latest close is ₩15,300 and the market capitalization is ₩138.9 billion. The price sits above its 20-day moving average (₩12,636) and above its 60-day moving average (₩13,615). 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 68.2, a neutral level. The one-month change is +23.1%, the three-month change is -3.6%, and the position relative to the 52-week high is -46.9%. Relative strength versus the KOSDAQ is 64 (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 64% of all stocks. Over the past three months it outpaced the index by 44.2%. 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 +44.21% / 6M +13.31% / 12M -31.53%
Key metrics Computed vs sector median
Valuation
The P/E of 18.53x is above the sector median (11.94x). The P/B of 2.26x is above the sector median (1.10x). 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) 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 10.7%, initial growth 10.0%→terminal 2.0%, 10-yr forecast, free-cash-flow basis, forward earnings power normalized 2.331x. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 14.1%, above the sector average (1.0%). The operating margin is 17.2%. The debt ratio is 32.7%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $30.1M | $34.8M | $34.0M | -2.47% ↓ slower |
| Operating profit | $4.5M | $6.9M | $4.9M | -28.79% ↓ slower |
| Net profit | $4.4M | $7.7M | $5.3M | -31.28% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $22.4M | $27.0M | $30.1M | $34.8M | $34.0M |
| Operating profit | $4.1M | $4.9M | $4.5M | $6.9M | $4.9M |
| Net profit | $4.3M | $5.0M | $4.4M | $7.7M | $5.3M |
| Revenue CAGR | 4-yr avg 10.96% | ||||
Revenue fell 2.5% year over year (2023 ₩42.9 billion → 2024 ₩49.6 billion → 2025 ₩48.4 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 28.8% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is 11.0%. The two-year revenue CAGR is 6.2%. In the most recent quarter (Q1 2026), revenue was 25.5% 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 14.1% points to solid profitability.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- Revenue fell 2.5% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2026-03-25UpdateCorporate-value enhancement plan (voluntary disclosure): see the company's original planThis is a forward-looking document provided directly by the company. Where it contains figures, treat them as a primary basis for the outlook box; where it does not, treat it only as directional. Source
- 2026-02-23EarningsChange of 30% or more (15% for large corporations) in revenue or profit-and-loss structure: full-year revenue ₩48.4 billion · operating profit ₩7.0 billion · net profit ₩7.5 billionThis is recent confirmed or preliminary results. Check whether it points the same way as the annual trend and whether any one-off factors are involved. Source
- 2025-08-01EarningsOperating results (preliminary) on a consolidated basis (fair disclosure): Q1 2026 revenue ₩11.7 billion · operating profit ₩1.7 billion · net profit ₩2.0 billionThis is recent confirmed or preliminary results. Check whether it points the same way as the annual trend and whether any one-off factors are involved. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩15,300 | ₩15,300 | Confirmed | link |
| Latest quarterly results | revenue ₩11.7 billion, operating profit ₩1.7 billion | revenue ₩11.7 billion, operating profit ₩1.7 billion | Confirmed | link |
| Annual results | revenue ₩48.4 billion, operating profit ₩7.0 billion | revenue ₩48.4 billion, operating profit ₩7.0 billion | Confirmed | link |
| Outlook/plan filing (original text) | — | — | Confirmed | link |
| Earnings filing (original text) | revenue30%: revenue ₩48.4 billion · operating profit ₩7.0 billion · net profit ₩7.5 billion | revenue30%: revenue ₩48.4 billion · operating profit ₩7.0 billion · net profit ₩7.5 billion | Confirmed | link |
| Earnings filing (original text) | 2026 1 revenue ₩11.7 billion · operating profit ₩1.7 billion · net profit ₩2.0 billion | 2026 1 revenue ₩11.7 billion · operating profit ₩1.7 billion · net profit ₩2.0 billion | Confirmed | link |
| Basis of the outlook box | DART | DART | Confirmed | link |
Recent filings Source
- 2026-06-08OwnershipOwnership-change filing
- 2026-06-04OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-27OwnershipOwnership-change filing
- 2026-05-15PeriodicQuarterly report
- 2026-05-11Disclosure
- 2026-03-25Disclosure
- 2026-03-24Shareholders' meeting notice
- 2026-03-23Dividend disclosure
- 2026-03-16PeriodicAnnual business report (amended)
- 2026-03-16PeriodicAnnual business report
- 2026-03-16Audit report
- 2026-03-13OwnershipOwnership-change filing
📖 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.