RaonTech (418420) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
RaonTech is a technology company in the electronic-components and display group. Its regular filings list real-estate and equipment leasing among its stated business purposes, but no revenue from that line has appeared yet, so actual sales still come from its core electronic-components and display business. It has signed a run of supply contracts — ₩3.8 billion in March 2026 (35.2% of recent revenue), ₩3.4 billion in February (42.6%), and ₩2.8 billion in December 2025 (26.2%) — and first-quarter revenue rose 24.4% year over year. The notable point right now is a mixed one: contracts that are large relative to the company's size keep being signed one after another, and a current ratio of 4.34 gives it staying power, so evidence of a revenue recovery is building; but operating and net results are still in the red, the debt ratio of 150.8% is somewhat high, and it remains to be confirmed whether the order intake feeds through into profit.
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 “Electronic Components” (Semiconductors & IT Components), a type typically read first through forward P/E.
Electronic components swing with set-makers' product launches and demand cycles, so what lies ahead matters more than earnings already booked. That makes forward P/E — pricing the shares against expected earnings — the first metric to read.
Price against earnings alone becomes unstable when earnings swing. Reading it together with price against assets helps gauge the downside.
That said, earnings are swinging with the industry cycle right now, so this metric is best viewed alongside asset value and the demand backdrop.
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 is somewhat higher than equity (debt ratio 202.3%).
- The most recent full-year net result was a loss.
- Revenue fell 1.8% year over year (3-year trend: falling).
- Most recent quarter (Q1 2026) revenue was 24.4% higher than a year earlier.
- ROE is -39.3% (total-net basis). It is below the sector average.
- Operating margin is -66.4%.
- P/E is hard to compute here, so this is read on P/B.
Ownership & governance As of 2025-12-31
Largest shareholder Kim Bo-eun 19.82% (individual)
Controlling bloc incl. related parties 31.67%
With the controlling bloc holding 32%, the ownership structure is stable.
🔎 In-depth analysis Reading
RaonTech is a technology company in the electronic-components and display group. Its regular filings note that real-estate and equipment leasing has been added to its stated business purposes, but as of the reporting date no related revenue has yet arisen, so this is a forward-looking item for now. In other words, the company's actual revenue currently comes from its core electronic-components and display business. With a market capitalization of ₩125 billion, this is not a large stock, so it is worth watching how much a single disclosure — an individual supply contract or a financing announcement — can affect revenue and the share count, alongside the bigger picture of the business.
The latest close is ₩3,610 and the market capitalization is ₩111.1 billion. The price sits above its 20-day moving average (₩3,379) and below its 60-day moving average (₩5,437). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 47.9, a neutral level. The one-month change is -6.2%, the three-month change is -53.1%, and the position relative to the 52-week high is -68.4%. Relative strength versus the KOSDAQ is 42 (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 42% of all stocks. Over the past three months it lagged the index by 25.0%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Recent annual revenue was ₩8.7 billion, with an operating loss of ₩5.8 billion and a net loss of ₩6.6 billion, so the company is still at a loss-making stage. The operating margin was -66.4% and ROE (a profitability measure showing how much is earned in a year on shareholders' equity) was -39.3%, classifying profitability as loss-making. The debt ratio (debt relative to shareholders' equity) is 250.8%, but the current ratio (assets convertible to cash within a year against debt due within a year) is 4.34, so short-term payment capacity itself is on the comfortable side. The P/B (how many times book value the share price is) is 8.40x, which looks high against book value, but for an early-stage technology company like this the P/B reflects technology and future growth expectations more than current earnings. Because the company is running a loss, a P/E (how many times a year's earnings the share price is) cannot really be calculated, so rather than judging cheap or expensive from a single ratio, it is more realistic to watch the timing and pace at which losses turn to profit.
Annual revenue was ₩10.7 billion in 2023, ₩8.9 billion in 2024, and ₩8.7 billion in 2025, a flat-to-slightly-declining trend, and operating results stayed in the red over the same period. That said, the most recent quarter (Q1 2026) posted revenue of ₩0.9 billion, up 24.4% year over year, standing out as a recovery signal that differs from the annual trend. Quarterly operating and net results are still in the red, so whether the revenue recovery carries through to improving profit needs to be confirmed in the next quarter's results. Note that the on-screen full-year projection is a simple estimate based on quarterly ratios and can swing widely, so it is best treated as a directional reference line rather than a firm figure. The key question is whether the recent order intake and the first-quarter revenue increase settle into growth on an annual basis.
Recent disclosures center on supply contracts. On March 23, 2026 came a single-sale/supply contract (amended) worth ₩3.8 billion (35.2% of recent revenue); on February 4, 2026 a single-sale/supply contract worth ₩3.4 billion (42.6% of revenue); and on December 23, 2025 a single-sale/supply contract (amended) worth ₩2.8 billion (26.2% of revenue). All three are contracts that loom large against the company's annual revenue, so the period over which that revenue is recognized, and whether the deals are one-off or repeatable, is what divides the medium-term reading of results. It is worth confirming in subsequent results disclosures whether these contracts connect to the pickup in first-quarter revenue.
The strengths are clear. Although the full year was loss-making, first-quarter 2026 revenue rose 24.4% year over year, and supply contracts that are large relative to the company's size have been signed one after another recently, so evidence of a revenue recovery is accumulating. A current ratio of 4.34, giving room on short-term payment capacity, is also favorable in terms of staying power. At the same time there are cautions. Operating and net results are still in the red, so a recovery in profitability has not yet shown up in actual figures; the debt ratio at 150.8% is somewhat high; and because market capitalization is small, an individual disclosure or a financing can weigh heavily on the share price and share count. In short, if the recent orders feed through revenue and then into profit, the recovery story gains momentum; conversely, if the contracts prove one-off or the losses do not narrow, expectations could be pushed back. The price having corrected sharply from its 52-week high can be seen as a position that has lowered both expectation and risk together.
🔎 Valuation vs peers Overvalued
A peer set of similarly sized companies by market capitalization within electronic components and display.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Avico Electronics | 8.36x | 0.67x | 9.38% |
| Poongwon Precision | — | 12.90x | -191.25% |
| MDevice | 11.58x | 3.17x | 22.67% |
We looked first at a public-data peer set of similar market capitalization within electronic components and display. The current P/E (how many times a year's earnings the share price is) cannot be determined, and the P/B (how many times book value the share price is) is 8.40x. That said, for smaller-cap stocks, earnings swings and financing disclosures carry a large effect, so we did not draw firm conclusions 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 | ₩4.6 billion | — | — |
| Next quarter | Q2 2026 | ₩1.4 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩3,610 and the market capitalization is ₩111.1 billion. The price sits above its 20-day moving average (₩3,379) and below its 60-day moving average (₩5,437). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 47.9, a neutral level. The one-month change is -6.2%, the three-month change is -53.1%, and the position relative to the 52-week high is -68.4%. Relative strength versus the KOSDAQ is 42 (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 42% of all stocks. Over the past three months it lagged the index by 25.0%. 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 -25.00% / 6M -13.53% / 12M -35.49%
Key metrics Computed vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 8.40x is above the sector median (0.86x).
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 -39.3%, below the sector average (4.0%). The operating margin is -66.4%. The debt ratio is 202.3%, so the financial structure is somewhat high.
Growth FY2025 · annual report (separate)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $7.5M | $6.3M | $6.1M | -1.76% ↑ faster |
| Operating profit | -$1.5M | -$4.9M | -$4.1M | — |
| Net profit | -$5.0M | -$4.6M | -$4.6M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $4.1M | $7.7M | $7.5M | $6.3M | $6.1M |
| Operating profit | -$1.1M | $226,519 | -$1.5M | -$4.9M | -$4.1M |
| Net profit | -$2.3M | $411,234 | -$5.0M | -$4.6M | -$4.6M |
| Revenue CAGR | 4-yr avg 10.88% | ||||
Revenue fell 1.8% year over year (2023 ₩10.7 billion → 2024 ₩8.9 billion → 2025 ₩8.7 billion), and the three-year trend is 'falling'. That said, the rate of decline narrowed 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 10.9%. The two-year revenue CAGR is -9.8%. In the most recent quarter (Q1 2026), revenue was 24.4% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- —
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- Revenue fell 1.8% year over year (3-year trend: falling).
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-03-23Contract[Amended] Single-sale/supply contract signed: contract value ₩3.8 billion, 35.2% of recent revenueThe contract value and term are central to future revenue recognition. Whether the deal is one-off or repeatable divides the medium-term reading. Source
- 2026-02-04ContractSingle-sale/supply contract signed: contract value ₩3.4 billion, 42.6% of recent revenueThe contract value and term are central to future revenue recognition. Whether the deal is one-off or repeatable divides the medium-term reading. Source
- 2025-12-23Contract[Amended] Single-sale/supply contract signed: contract value ₩2.8 billion, 26.2% of recent revenueThe contract value and term are central to future revenue recognition. Whether the deal is one-off or repeatable divides the medium-term reading. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩3,610 | ₩3,610 | Confirmed | link |
| Latest quarterly results | revenue ₩0.9 billion, operating profit -₩3.3 billion | revenue ₩0.9 billion, operating profit -₩3.3 billion | Confirmed | link |
| Annual results | revenue ₩8.7 billion, operating profit -₩5.8 billion | revenue ₩8.7 billion, operating profit -₩5.8 billion | Confirmed | link |
| Contract disclosure source text | [amended] single supply contract signed: contract value ₩3.8 billion · vs recent revenue 35.2% | [amended] single supply contract signed: contract value ₩3.8 billion · vs recent revenue 35.2% | Confirmed | link |
| Contract disclosure source text | single supply contract signed: contract value ₩3.4 billion · vs recent revenue 42.6% | single supply contract signed: contract value ₩3.4 billion · vs recent revenue 42.6% | Confirmed | link |
| Contract disclosure source text | [amended] single supply contract signed: contract value ₩2.8 billion · vs recent revenue 26.2% | [amended] single supply contract signed: contract value ₩2.8 billion · vs recent revenue 26.2% | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-15OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-15PeriodicQuarterly report
- 2026-04-10OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-10OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-10OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-10OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-10OwnershipOwnership-change filing
- 2026-03-30OwnershipOwnership-change filing
- 2026-03-26Shareholders' meeting notice
- 2026-03-23Single supply/sales contract (amended)
- 2026-03-18PeriodicAnnual business report
- 2026-03-18Audit 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.