Dawon NexView (323350) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Dawon NexView is a small-cap company with a market cap of ₩76.0 billion that makes and sells laser-based precision machining and inspection equipment, so whom it sells to and how repeatedly it does so is central to its results. After profit swung from a loss to a gain, Q1 operating profit more than sextupled, and with an ROE of 18.5% and a 15% operating margin, profitability is strong; supply contracts have also come in one after another, including ₩11.5 billion (42.5% of recent revenue) in May 2026. What stands out lately is that, if this year's contracted volume converts into revenue and profit as scheduled, the strength of a forward P/E below the sector median becomes clear; but because the market cap is small, the timing and size of a single contract's recognition can swing quarterly results considerably, and the pace of growth can also slow if the flow of new contracts eases.
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 “Machinery” (Shipbuilding, Machinery, Defense & Power Equipment), a type typically read first through P/E.
Machinery makers see orders and results ebb and flow with the capital-investment cycle, yet most run a business that earns money year after year. That is why price-to-earnings (P/E) — the share price measured against actual net profit — is the natural 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 44.0% year over year, and the pace is slowing (3-year trend: rising).
- Net profit swung from a loss a year earlier back into the black (a turnaround).
- Most recent quarter (Q1 2026) revenue was 15.4% higher than a year earlier.
- ROE is 21.5% (total-net basis). It is above the sector average.
- Operating margin is 16.7%.
- 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 Dawonsys 23.09% (corporate)
Controlling bloc incl. related parties 43.83%
With the controlling bloc holding 44%, the ownership structure is stable.
🔎 In-depth analysis Reading
Dawon NexView is classified under machinery and equipment, and its revenue comes from making and selling laser-based precision machining and inspection equipment. As a small- to mid-cap company with a market cap of about ₩76.0 billion, a single disclosure such as a supply contract has a relatively large effect on its revenue and profit. For that reason, it helps to also watch whom it sells its products to and how repeatedly.
The latest close is ₩7,300 and the market capitalization is ₩58.5 billion. The price sits below its 20-day moving average (₩7,910) and below its 60-day moving average (₩12,704). 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 40.2, a neutral level. The one-month change is -18.0%, the three-month change is -51.5%, and the position relative to the 52-week high is -71.7%. Relative strength versus the KOSDAQ is 78 (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 79% of all stocks. Over the past three months it lagged the index by 36.5%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
The most recent annual (2025) revenue was ₩26.9 billion, with operating profit of ₩4.0 billion and net profit of ₩3.5 billion. The operating margin of 15.0% and an ROE (how much profit is generated on shareholders' equity in a year) of 18.5% mark strong profitability, and the diagnostic rates profitability as "excellent." On the financial side, a debt ratio of 71.9%, a current ratio of 197.2% and an interest-coverage ratio of 21.4x mean both debt-servicing capacity and short-term liquidity are sound, so it is classified as "stable." The current P/E of 21.86x and P/B of 4.04x are based on last year's confirmed full-year results. For a company like this, where profit has just turned from a loss to a gain, multiples set on a single past year tend to look more expensive than they are, so rather than reading this straight as a "burden," it should be viewed alongside the forward P/E (2.68x) that reflects coming earnings. The forward P/E is distinctly below the sector median, a signal that the price is on the cheaper side relative to profit.
Growth has been clear over several years. Revenue rose from ₩10.7 billion in 2023 to ₩18.7 billion in 2024 and ₩26.9 billion in 2025, growing about 59% a year on average over two years, while operating profit swung from a loss in 2023 to ₩1.3 billion in 2024 and ₩4.0 billion in 2025 — more than doubling again in a single year after turning positive. Net profit also swung from a loss in 2024 to a ₩3.5 billion gain in 2025. The trend continued this year: Q1 2026 revenue was ₩3.2 billion, up 15.4% year over year, operating profit was ₩0.6 billion, up 522.6%, and net profit was ₩0.8 billion, up 708%. With revenue growing steadily in the single to double digits while profit grows far faster, the company appears to have entered a phase where, on equipment and staff already in place, profit accrues more quickly as revenue expands. On top of that, if the supply contracts landed this year (₩4.2 billion in February, ₩11.5 billion in May) are recognized as revenue, this year's profit has room to grow substantially over last year. The forward P/E reflects this faster profit, and since there is no evidence that the outlook from next year turns lower than this year, this is not a place to conclude a "cycle top."
Recent disclosures center on supply contracts. The largest is the single-supply contract disclosed on May 8, 2026 (contract value ₩11.5 billion, or 42.5% of recent revenue), followed by a ₩4.2 billion contract (22.3% of revenue) on February 27, 2026, and a correction to a ₩4.2 billion contract from December 23, 2025. Because the contract values correspond to a substantial share of last year's revenue, when and how much of this volume is booked as revenue is the key variable for this year's results. Following whether these are one-off transactions or ones that recur helps in reading the medium-term trend.
This is a stock with clear strengths. After profit swung from a loss to a gain, operating profit still more than sextupled in Q1, and with an ROE of 18.5% and a 15% operating margin, profitability is strong while debt and liquidity are stable. Even though the P/E and P/B on last year's results look high, this is a stock whose profit has just inflected, so the forward P/E is below the sector median — meaning it is on the cheaper side relative to the profit trend. The price is also down 63% from its high with RSI in a depressed zone, a place where expectations have cooled considerably. The condition that works strongly in its favor is this year's contracted volume converting into revenue and profit on schedule while the quarterly profit uptrend holds. The condition to view cautiously is that, because the market cap is small, the timing or size of a single contract's recognition can swing quarterly results considerably, and growth can slow when the inflow of new contracts eases. In short, understand it as a structure where the strength is clear as long as the order flow continues, and volatility rises if that flow breaks.
🔎 Valuation vs peers Undervalued
A peer set within machinery and equipment adjacent by market capitalization.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Wonik PNE | 98.03x | 0.97x | 0.94% |
| Daesung Hi-Tech | — | 2.00x | -8.69% |
| Rorze Systems | 7.61x | 0.66x | 8.48% |
The primary reference was a public-data peer set within machinery and equipment adjacent by market cap. The current P/E ratio (how many times a year's profit the price is) is 16.81x and the P/B (how many times book value the price is) is 2.97x. That said, for smaller-cap names, profit swings and financing filings have an outsized effect, so no firm conclusion was drawn from last year's confirmed-results metrics 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 | ₩31.1 billion | ₩25.1 billion | ₩28.1 billion |
| Next quarter | Q2 2026 | ₩6.9 billion | ₩3.7 billion | ₩4.9 billion |
Price history Close · MA20 · MA60
The latest close is ₩7,300 and the market capitalization is ₩58.5 billion. The price sits below its 20-day moving average (₩7,910) and below its 60-day moving average (₩12,704). 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 40.2, a neutral level. The one-month change is -18.0%, the three-month change is -51.5%, and the position relative to the 52-week high is -71.7%. Relative strength versus the KOSDAQ is 78 (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 79% of all stocks. Over the past three months it lagged the index by 36.5%. 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 -36.51% / 6M +14.44% / 12M +3.36%
Key metrics Computed vs sector median
Valuation
The P/E of 16.81x is above the sector median (14.07x). The P/B of 2.97x is above the sector median (1.01x). 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 10.1%, initial growth 4.0%→terminal 2.0%, 10-yr forecast, free-cash-flow basis. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 21.5%, above the sector average (2.0%). The operating margin is 16.7%. The debt ratio is 79.7%, so the financial structure is stable.
Growth FY2025 · annual report (separate)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $7.5M | $13.1M | $18.9M | +44.03% ↓ slower |
| Operating profit | -$450,279 | $898,604 | $2.8M | +215.03% |
| Net profit | $62,275 | -$2.9M | $2.4M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | $7.5M | $13.1M | $18.9M |
| Operating profit | — | — | -$450,279 | $898,604 | $2.8M |
| Net profit | — | — | $62,275 | -$2.9M | $2.4M |
| Revenue CAGR | 2-yr avg 59.01% | ||||
Revenue rose 44.0% year over year (2023 ₩10.7 billion → 2024 ₩18.7 billion → 2025 ₩26.9 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit rose 215.0% year over year. Over the 3 years on record, revenue compound annual growth (CAGR) is 59.0%. The two-year revenue CAGR is 59.0%. In the most recent quarter (Q1 2026), revenue was 15.4% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- ROE of 21.5% points to solid profitability.
- Revenue grew 44.0% year over year, a sign of growth.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-05-08ContractSingle supply contract signed: contract value ₩11.5 billion · 42.5% of recent revenueThe contract value and term are key to future revenue recognition. Whether it is a one-off or a recurring transaction shapes the medium-term reading. Source
- 2026-02-27ContractSingle supply contract signed: contract value ₩4.2 billion · 22.3% of recent revenueThe contract value and term are key to future revenue recognition. Whether it is a one-off or a recurring transaction shapes the medium-term reading. Source
- 2025-12-23Contract[Correction] Single supply contract signed: contract value ₩4.2 billion · 22.3% of recent revenueThe contract value and term are key to future revenue recognition. Whether it is a one-off or a recurring transaction shapes the medium-term reading. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩7,300 | ₩7,300 | Confirmed | link |
| Latest quarterly results | revenue ₩3.2 billion, operating profit ₩0.6 billion | revenue ₩3.2 billion, operating profit ₩0.6 billion | Confirmed | link |
| Annual results | revenue ₩26.9 billion, operating profit ₩4.0 billion | revenue ₩26.9 billion, operating profit ₩4.0 billion | Confirmed | link |
| Contract disclosure source text | single supply contract signed: contract value ₩11.5 billion · vs recent revenue 42.5% | single supply contract signed: contract value ₩11.5 billion · vs recent revenue 42.5% | Confirmed | link |
| Contract disclosure source text | single supply contract signed: contract value ₩4.2 billion · vs recent revenue 22.3% | single supply contract signed: contract value ₩4.2 billion · vs recent revenue 22.3% | Confirmed | link |
| Contract disclosure source text | [amended] single supply contract signed: contract value ₩4.2 billion · vs recent revenue 22.3% | [amended] single supply contract signed: contract value ₩4.2 billion · vs recent revenue 22.3% | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-15OwnershipOwnership-change filing
- 2026-05-14PeriodicQuarterly report
- 2026-05-14OwnershipAmended filing
- 2026-05-14OwnershipOwnership-change filing
- 2026-05-13OwnershipAmended filing
- 2026-05-12OwnershipOwnership-change filing
- 2026-05-08Single supply/sales contract
- 2026-04-15Disclosure
- 2026-03-31Shareholders' meeting notice
- 2026-03-23PeriodicAnnual business report
- 2026-03-23Audit report
- 2026-03-16Disclosure
📖 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.