Grid Wiz runs a demand-response and virtual power plant business that bundles scattered distributed energy resources such as solar, electric vehicles, and energy storage systems to help balance electricity demand. Rather than generating power itself, the company earns its money from software and operating services that help electricity get used and shared more intelligently. A February 2026 disclosure and a June business report finalized 2025 figures of ₩125.6 billion in revenue, ₩0.8 billion in operating profit, and ₩2.1 billion in net profit, while the May quarterly report disclosed a return to losses in Q1 2026, with ₩20.6 billion in revenue, an operating loss of ₩2.2 billion, and a net loss of ₩1.3 billion. What stands out lately is a two-sided picture: the company operates in a structurally growing distributed-energy market and trades below its net asset value (P/B of 0.83x), pointing to an asset-based discount, while its 2025 operating margin of just 0.7% is thin and the Q1 return to a loss means earnings stability is still being tested.
At-a-glance assessment financial health · growth · profitability · valuation
- Revenue rose 0.8% year over year, and the pace is quickening (3-year trend: mixed).
- Net profit swung from a loss a year earlier back into the black (a turnaround).
- Most recent quarter (Q1 2026) revenue was 6.9% lower than a year earlier.
- ROE is 1.6% (controlling-interest basis). It is below the sector average.
- Operating margin is 0.7%.
- P/B is low versus peers too, so it looks cheap on an asset basis as well.
Ownership & governance As of 2025-12-31
Largest shareholder Kim Gu-hwan 21.74% (individual)
Controlling bloc incl. related parties 28.82%
With the controlling bloc holding 29%, control is maintained but the free float is relatively large.
🔎 In-depth analysis
- Grid Wiz is in the business of adjusting electricity supply and demand in real time.
- As distributed energy resources such as solar, wind, electric vehicles, and energy storage systems (ESS) proliferate, the traditional centralized grid alone has struggled to match supply and demand stably and efficiently.
- The company bundles these scattered resources together and runs a demand-response (DR) and virtual power plant business (aggregating many distributed resources to operate them as if they were a single power plant), dialing electricity demand up or down.
- In other words, rather than generating power itself, it makes money from software and operating services that help electricity get used and shared more intelligently.
- Its market capitalization is not large, so it is worth watching not only the underlying business but also how a single disclosure can affect earnings and the share count.
- The latest close is ₩12,340 and market capitalization is ₩98.0 billion.
- The price sits below its 20-day line (₩14,691) and its 60-day line (₩18,482).
- Trading beneath both the short- and medium-term moving averages, the trend looks subdued.
- The RSI (a supplementary gauge comparing upward and downward force over the past 14 days on a 0-100 scale) is 33.2, a neutral level.
- The one-month change is -18.6%, the three-month change is -38.3%, and the price stands -53.3% below its 52-week high.
- Relative strength versus the KOSDAQ is 51 (on a 1-99 scale, converting the past year's return against the index with more weight on recent performance; higher means stronger than the market).
- That places it in roughly the top 49% of all stocks by strength.
- Over the past three months it has lagged the index by 14.6%.
- Chart readings are best viewed alongside trading volume and disclosure dates.
- For 2025, annual revenue was ₩125.6 billion, operating profit ₩0.8 billion, and net profit ₩2.1 billion.
- The operating margin was 0.7% and ROE (how much is earned in a year on equity) was 1.6%, so profitability itself is still low.
- On the asset side, however, the P/B ratio (how many times book value the share price is) is 0.83x, meaning the stock is priced below the company's net asset value.
- That is low even against comparably sized peers, which reads as a clear asset-based discount.
- The P/E ratio (how many times a year's earnings the share price is) looking high at 52x reflects the fact that earnings have only just turned positive at an inflection point, so the denominator is still small; it is the kind of figure that should naturally come down as earnings normalize.
- The debt ratio (debt against equity) is 141.6%, but the current ratio (assets convertible to cash within a year against debt due within a year) is 331%, so short-term liquidity is ample.
- Revenue moved from ₩131.9 billion in 2023 to ₩124.7 billion in 2024 and ₩125.6 billion in 2025, dipping once before recovering slightly to hold a similar scale.
- The bigger shift is on the profit side: operating profit turned from a ₩4.3 billion loss in 2024 to a ₩0.8 billion profit in 2025, and net profit swung from -₩3.0 billion in 2024 to ₩2.1 billion in 2025.
- The key point is that this is a turnaround phase, with direction reversing from loss to profit.
- That said, in the most recent Q1 2026, revenue of ₩20.6 billion (-6.9% year on year) came with an operating loss of ₩2.2 billion and a net loss of ₩1.3 billion, marking a return to a quarterly loss.
- That means quarterly volatility still lingers, and whether the annual profitable footing holds is something the next few quarters will clarify.
- The underlying distributed-energy and demand-response market is itself growing structurally on the back of renewable expansion and carbon-neutral policy, so the demand backdrop is favorable for the company.
- Recent disclosures are mostly earnings-related.
- A February 9, 2026 disclosure on changes in the profit-and-loss structure reported 2025 annual revenue of ₩125.6 billion, operating profit of ₩0.8 billion, and net profit of ₩2.1 billion, and a June 19 business report (amended) finalized the same annual figures.
- The May 15 quarterly report disclosed a Q1 2026 quarterly loss, with revenue of ₩20.6 billion, an operating loss of ₩2.2 billion, and a net loss of ₩1.3 billion.
- With the annual swing to profit and the Q1 return to a loss standing side by side, watching whether quarterly earnings turn positive again in the next disclosure and whether any one-off factors are involved will make the trend clearer.
- Grid Wiz's strengths come down to two points.
- First, it operates in a structurally growing market for distributed energy and demand response, running a business that intelligently bundles and shares electricity; second, the stock is priced below its net asset value (P/B of 0.83x), placing it in an asset-based discount zone.
- At the same time, there are clear cautions.
- Although 2025 turned profitable for the full year, the operating margin was a thin 0.7%, and Q1 2026 returned to a loss, so earnings stability is still being tested.
- In short, the more quarterly earnings settle onto a profitable footing and distributed-energy demand translates into revenue and profit, the more the asset-based discount stands out and the stronger the case becomes; conversely, if quarterly losses persist or capital-raising disclosures pile up, confidence in the earnings inflection wavers and the case weakens.
🔎 Valuation vs peers Undervalued
Compared against professional and technical services names with nearby market capitalization.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| GC Genome | 26.46x | 1.37x | 5.17% |
| Macrogen | 62.50x | 0.81x | 1.29% |
| I-Tech | — | 0.84x | -2.69% |
Within professional and technical services, we prioritized public-data comparables with nearby market capitalization. The current P/E ratio (how many times a year's earnings the share price is) is 45.79x and the P/B ratio (how many times book value the share price is) is 0.74x. That said, because smaller-cap names are heavily swayed by earnings swings and capital-raising disclosures, we did not draw firm conclusions from last year's finalized figures alone. The forecast box is based on a DART seasonality approximation.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩116.9 billion | — | — |
| Next quarter | Q2 2026 | ₩24.3 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩12,340 and the market capitalization is ₩98.0 billion. The price sits below its 20-day moving average (₩14,691) and below its 60-day moving average (₩18,482). 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 33.2, a neutral level. The one-month change is -18.6%, the three-month change is -38.3%, and the position relative to the 52-week high is -53.3%. Relative strength versus the KOSDAQ is 51 (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 51% of all stocks. Over the past three months it lagged the index by 14.6%. 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 -14.58% / 6M -7.83% / 12M -45.68%
Key metrics vs sector median
Valuation
The P/E of 45.79x is in line with the sector median (44.74x). The P/B of 0.74x is below the sector median (1.26x).
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 1.6%, below the sector average (2.0%). The operating margin is 0.7%. The debt ratio is 141.6%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $87.4M | $82.6M | $83.3M | +0.75% ↑ faster |
| Operating profit | $1.1M | -$2.9M | $541,035 | — |
| Net profit | $2.9M | -$2.0M | $1.4M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | $87.4M | $82.6M | $83.3M |
| Operating profit | — | — | $1.1M | -$2.9M | $541,035 |
| Net profit | — | — | $2.9M | -$2.0M | $1.4M |
| Revenue CAGR | 2-yr avg -2.40% | ||||
Revenue rose 0.8% year over year (2023 ₩131.9 billion → 2024 ₩124.7 billion → 2025 ₩125.6 billion), and the three-year trend is 'mixed'. The pace of growth also quickened from the prior year. Over the 3 years on record, revenue compound annual growth (CAGR) is -2.4%. The two-year revenue CAGR is -2.4%. In the most recent quarter (Q1 2026), revenue was 6.9% lower than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- P/E and P/B are both low versus peers, so the price looks inexpensive relative to earnings and assets.
Points to watch
- The figures shown are based on the last annual report as of the writing date, so it is best to review the latest quarterly results and filings alongside them.
Recent news & events searched · sourced
- 2026-02-09EarningsChange of 30% or more (15% for large corporations) in revenue or profit-and-loss structure: annual revenue ₩125.6 billion, operating profit ₩0.8 billion, net profit ₩2.1 billionThis is recent finalized or preliminary earnings data. Check whether it points the same way as the annual trend and whether any one-off factors are involved. Source
- 2026-06-19Earnings[Amended] Business report (2025.12): revenue ₩125.6 billion, operating profit ₩0.8 billion, net profit ₩2.0 billionThis is recent finalized or preliminary earnings data. Check whether it points the same way as the annual trend and whether any one-off factors are involved. Source
- 2026-05-15EarningsQuarterly report (2026.03): Q1 2026 revenue ₩20.6 billion, operating loss ₩2.2 billion, net loss ₩1.3 billionThis is recent finalized or preliminary earnings data. 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 | ₩12,340 | ₩12,340 | Confirmed | link |
| Latest quarterly results | revenue ₩20.6 billion, operating profit -₩2.2 billion | revenue ₩20.6 billion, operating profit -₩2.2 billion | Confirmed | link |
| Annual results | revenue ₩125.6 billion, operating profit ₩0.8 billion | revenue ₩125.6 billion, operating profit ₩0.8 billion | Confirmed | link |
| Earnings disclosure (original text) | revenue30%: revenue ₩125.6 billion · operating profit ₩0.8 billion · net profit ₩2.1 billion | revenue30%: revenue ₩125.6 billion · operating profit ₩0.8 billion · net profit ₩2.1 billion | Confirmed | link |
| Earnings disclosure (original text) | [] (2025.12): revenue ₩125.6 billion · operating profit ₩0.8 billion · net profit ₩2.0 billion | [] (2025.12): revenue ₩125.6 billion · operating profit ₩0.8 billion · net profit ₩2.0 billion | Confirmed | link |
| Earnings disclosure (original text) | (2026.03): 2026 1 revenue ₩20.6 billion · operating profit -₩2.2 billion · net profit -₩1.3 billion | (2026.03): 2026 1 revenue ₩20.6 billion · operating profit -₩2.2 billion · net profit -₩1.3 billion | Confirmed | link |
| Basis of the forecast box | DART | DART | Confirmed | link |
Recent filings
- 2026-05-28OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-26Disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-04-30Disclosure
- 2026-03-31Disclosure
- 2026-03-31Disclosure
- 2026-03-31Shareholders' meeting notice
- 2026-03-20PeriodicAnnual business report
- 2026-03-20Audit report
- 2026-03-16Shareholders' meeting notice
- 2026-03-16Shareholders' 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.