LaserSSEL develops and manufactures area-source laser reflow equipment that applies laser heat across a broad surface to bond chips and components to substrates, supplying it to the back-end processes of semiconductors, displays, and secondary batteries. Because revenue is small, a single contract carries a large weight; in May and June 2026 supply contracts of ₩0.6-0.9 billion each (16-22% of annual revenue) came in succession, and revenue is rising again after bottoming in 2024. What stands out is that if orders establish themselves as recurring revenue and the loss narrows, the top-line recovery would flow through to earnings and strengthen the stock, but with operating losses persisting over several years and a debt ratio of 224.6% that is somewhat high, the stock could weaken if the contracts prove one-off and cost pressure continues.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt is somewhat higher than equity (debt ratio 224.6%).
- The most recent full-year net result was a loss.
- Revenue rose 16.7% year over year, and the pace is quickening (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 2.8% higher than a year earlier.
- ROE is -84.8% (total-net basis). It is below the sector average.
- Operating margin is -289.2%.
- P/E is hard to compute here, so this is read on P/B.
Ownership & governance As of 2025-12-31
Largest shareholder Ahn Gun-joon 15.23% (individual)
Controlling bloc incl. related parties 15.38%
With the controlling bloc holding 15%, control is maintained but the free float is relatively large.
🔎 In-depth analysis
- LaserSSEL develops, manufactures, and sells laser reflow equipment used in the back-end processes of semiconductors, displays, and secondary batteries, built on area-source (area laser) technology.
- The core is bonding-process equipment that applies laser heat not to a narrow point but across a broad surface to attach chips or components to substrates, sold in step with demand from advanced semiconductor packaging and display and battery processes.
- As a small equipment maker, its results swing heavily on each individual order from and adoption by large customers, so new supply-contract filings are the most important clue for reading the flow of the business.
- The latest closing price is ₩5,000 and the market cap is ₩73.0 billion.
- The price sits below both the 20-day line (₩5,018) and the 60-day line (₩7,418).
- Trading beneath both its short- and mid-term moving averages, the trend is subdued.
- The RSI (an indicator comparing upward and downward momentum over the past 14 days on a 0-100 scale) is 45.3, a neutral level.
- The price is down 15.0% over one month and 39.7% over three months, and stands 64.5% below its 52-week high.
- Its relative strength versus the KOSDAQ is 96 (on a 1-99 scale that weights recent one-year returns against the index more heavily toward the present; higher means stronger than the market).
- That places it in roughly the top 3% of all stocks by strength.
- Over the past three months it has lagged the index by 19.9%.
- Chart readings are best interpreted alongside trading volume and the dates of filings.
- Recent annual (2025) revenue was ₩4.7 billion, with an operating loss of ₩13.5 billion and a net loss of ₩16.2 billion.
- The operating margin was -289.2%, ROE (how much the company grew its equity in a year) was -84.8%, and the debt ratio (debt relative to equity) was 224.6%.
- The P/E ratio (how many times one year's earnings the price represents) cannot be calculated because earnings are in the red, and the P/B (how many times book value the price represents) is 3.78x.
- For a loss-making company, it is hard to conclude from P/B alone whether the stock is expensive or cheap.
- The key fact is that the company is still loss-making relative to revenue, and more important than the P/B figure itself is whether the loss is narrowing.
- Revenue fell from ₩9.7 billion in 2021 to ₩6.0 billion in 2022 and 2023 and ₩4.0 billion in 2024, then recovered 16.7% year on year to ₩4.7 billion in 2025.
- Revenue in the most recent quarter (Q1 2026) also rose 2.8% year on year, suggesting the top line is finding a floor and turning back up.
- This year's revenue, reflecting the confirmed Q1 2025 results and the distribution of past quarterly revenue, works out to around ₩8.4 billion, pointing to a top line a step larger than 2024's ₩4.7 billion.
- The substance of this recovery is the recent run of supply-contract orders, and the more back-end equipment is adopted, the more room the top line has to revive.
- On the other hand, the operating loss widened from ₩0.8 billion in 2021 to ₩13.5 billion in 2025.
- In other words, the revenue-recovery signal is clear, but costs still run ahead of revenue, so whether the top-line recovery carries through to a turn to profit is the real test of this year's growth.
- Over the past three months, single supply-contract filings have come in succession.
- On June 9, 2026 a contract worth ₩0.6 billion (16.2% of recent revenue), on May 29 one worth ₩0.9 billion (21.7%), and on May 27 one worth ₩0.9 billion (19.1%) - each equal to 16-22% of annual revenue.
- Because this is a company with small revenue, a single such contract carries a large weight, and beyond the contract value and delivery timing, whether an order is a one-off or leads to repeat business shapes future revenue recognition and the medium-term reading.
- The strong side is clear.
- The company holds a specialized niche in area-source laser reflow for advanced packaging, display, and battery back-end processes, revenue is rising again after bottoming in 2024, and supply contracts have been arriving one after another.
- The share price is also in oversold territory after a sharp short-term drop, so it is hard to see expectations as excessively priced in.
- The cautious side is just as clear.
- Operating losses have persisted over several years and widened, and with a debt ratio of 224.6%, debt somewhat exceeds equity, so funding conditions and the possibility of additional financing must be watched until earnings turn.
- In short, the structure is one where the stock strengthens if orders establish themselves as recurring revenue and the loss narrows, letting the top-line recovery flow through to earnings, and weakens if the contracts prove one-off and cost pressure continues.
- Confirming both the revenue recovery and whether the loss is shrinking, together, is the key to reading this stock.
🔎 Valuation vs peers Overvalued
Public-data peers with adjacent market caps within machinery and equipment.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Daesung Hi-Tech | — | 1.07x | -8.69% |
| Dawon NexView | 20.34x | 3.76x | 18.48% |
| Wonik PNE | 87.49x | 0.82x | 0.94% |
The comparison starts with public-data peers of similar market cap within machinery and equipment. The current P/E ratio (how many times one year's earnings the price represents) cannot be confirmed, and the P/B (how many times book value the price represents) is 3.78x. That said, smaller-cap names are heavily swayed by earnings volatility and funding-related filings, so no firm conclusion was drawn from last year's confirmed results 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 | ₩8.4 billion | — | — |
| Next quarter | Q2 2026 | ₩2.3 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩5,000 and the market capitalization is ₩73.0 billion. The price sits below its 20-day moving average (₩5,018) and below its 60-day moving average (₩7,418). 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 45.3, a neutral level. The one-month change is -15.0%, the three-month change is -39.7%, and the position relative to the 52-week high is -64.5%. Relative strength versus the KOSDAQ is 96 (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 97% of all stocks. Over the past three months it lagged the index by 19.9%. 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 -19.92% / 6M +188.73% / 12M +57.35%
Key metrics vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 3.78x is above the sector median (1.44x).
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 -84.8%, below the sector average (5.0%). The operating margin is -289.2%. The debt ratio is 224.6%, so the financial structure is somewhat high.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $4.0M | $2.7M | $3.1M | +16.65% ↑ faster |
| Operating profit | -$3.8M | -$6.1M | -$9.0M | — |
| Net profit | -$120,753 | -$5.6M | -$10.7M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $6.4M | $4.0M | $4.0M | $2.7M | $3.1M |
| Operating profit | -$527,928 | -$3.3M | -$3.8M | -$6.1M | -$9.0M |
| Net profit | -$5.3M | -$2.7M | -$120,753 | -$5.6M | -$10.7M |
| Revenue CAGR | 4-yr avg -16.60% | ||||
Revenue rose 16.7% year over year (2023 ₩6.0 billion → 2024 ₩4.0 billion → 2025 ₩4.7 billion), and the three-year trend is 'mixed'. The pace of growth also quickened from the prior year. Operating results are in the red, so a swing back to profit matters more than the growth rate here. Over the 5 years on record, revenue compound annual growth (CAGR) is -16.6%. The two-year revenue CAGR is -11.8%. In the most recent quarter (Q1 2026), revenue was 2.8% higher than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- Revenue grew 16.7% year over year, a sign of growth.
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-06-09Contract[Corrective] Single supply contract signed: contract value ₩0.6 billion, 16.2% of recent revenueThe contract value and term are central to how revenue will be recognized. Whether it is a one-off or a repeatable transaction shapes the medium-term reading. Source
- 2026-05-29Contract[Corrective] Single supply contract signed: contract value ₩0.9 billion, 21.7% of recent revenueThe contract value and term are central to how revenue will be recognized. Whether it is a one-off or a repeatable transaction shapes the medium-term reading. Source
- 2026-05-27ContractSingle supply contract signed: contract value ₩0.9 billion, 19.1% of recent revenueThe contract value and term are central to how revenue will be recognized. Whether it is a one-off or a repeatable transaction shapes the medium-term reading. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩5,000 | ₩5,000 | Confirmed | link |
| Latest quarterly results | revenue ₩1.2 billion, operating profit -₩1.7 billion | revenue ₩1.2 billion, operating profit -₩1.7 billion | Confirmed | link |
| Annual results | revenue ₩4.7 billion, operating profit -₩13.5 billion | revenue ₩4.7 billion, operating profit -₩13.5 billion | Confirmed | link |
| Contract filing source text | []ㆍapprox. : approx. ₩0.6 billion · revenue 16.2% | []ㆍapprox. : approx. ₩0.6 billion · revenue 16.2% | Confirmed | link |
| Contract filing source text | []ㆍapprox. : approx. ₩0.9 billion · revenue 21.7% | []ㆍapprox. : approx. ₩0.9 billion · revenue 21.7% | Confirmed | link |
| Contract filing source text | ㆍapprox. : approx. ₩0.9 billion · revenue 19.1% | ㆍapprox. : approx. ₩0.9 billion · revenue 19.1% | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-06-09Single supply/sales contract (amended)
- 2026-05-29Single supply/sales contract (amended)
- 2026-05-27Single supply/sales contract
- 2026-05-22Disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-05-08OwnershipOwnership-change filing
- 2026-04-24Single supply/sales contract
- 2026-04-15OwnershipOwnership-change filing
- 2026-04-13Disclosure
- 2026-04-13Disclosure
- 2026-04-03Material-fact report
- 2026-04-03Material-fact 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.