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KREDKRED
096530KOSDAQ

Seegene

38,150
-750 (-1.93%)

Price chart

  • MA5
  • MA20
  • MA60

Adjusted prices rescale past bars with coefficients taken from the base prices the exchange itself published, correcting for corporate actions such as stock splits and reverse splits. Cash dividends are not reflected, and the risk measures on this page never use these adjusted figures.

Market capitalizationKRW 1T

Each day's close multiplied by the listed share count of this share class alone, sampled weekly. It is the figure for this issue only, not a combined total across common and preferred shares.

Overview

Summary

Seegene was established in September 2000. The company is listed on the KOSDAQ market and operates as a corporate entity with a subsidiary named Arrow Diagnostics s.r.l.

The company focuses on molecular diagnostics by analyzing DNA and RNA to detect disease causes. It provides diagnostic reagents and equipment to hospitals and testing institutions through global branches and distributors in over 100 countries.

Business overview as filed

당사는 2000년 9월 설립 후 인체 및 동식물에서 채취한 검체로부터 유전자 정보가 들어있는 DNA 및 RNA 분석을 통해 질환의 원인을 검출하는 분자진단 사업에 주력하고 있습니다.당사 매출은 진단 시약을 제조/판매하는 제품 매출, 진단장비를 외부에서 도입 후 당사 제품에 맞게 재가공하여 판매하는 상품 매출, 용역 제공 등의 기타 매출로 구성됩니다.당사의 기본적인 영업 경로는 국내외 협력 대리점 및 해외 법인으로, 이탈리아, UAE, 미국, 캐나다, 독일, 브라질, 멕시코, 콜롬비아, 남아공, 프랑스에 현지 법인과 지점을 보유하고 있으며, 100여개 국가 및 지역에서 대리점 운영을 통해 글로벌 판매망을 꾸준히 확대해 나가고 있습니다. 2025년 기준 총 매출액 중 수출 비중은 93%를 차지하고 있습니다.당사의 핵심 경쟁력은 독자적인 기술력에 있습니다. 당사는 유사한 증상을 유발할 수 있는 다양한 병원체(pathogen)를 하나의 튜브로 동시 진단할 수 있는 하이 멀티플렉스(High Multiplex) 기술인 신드로믹 정량 PCR(Syndromic qPCR) 기술을 보유하고 있습니다. 당사의 신드로믹 정량 PCR 기술은 코로나19 바이러스와 같은 감염질환 병원체 검사, 단일 염기 변이 검사, 약제 내성 검사, 돌연변이 검사 등 모든 유전자 관련 질병 검사에 적용 가능한 동시 다중 분자진단을 위한 최적의 솔루션이라고 할 수 있습니다.관련하여 당사는 하이 멀티플렉스 진단시약에 대한 원천 기술(DPO™, TOCE™, MuDT™ 등)을 보유하고 있으며, 19개 특허기술을 통합해 한 번의 검사로 15개 타깃을 동시 검사하고 정량값(Ct Value)을 제공할 수 있는 3Ct 기술을 완성했습니다. 이러한 독보적인 원천 기술을 적용하여 개발된 PCR 시약이 약 120여개에 이르며, 각 국가별 인허가를 득한 진단 시약을 병원과 검사기관에 판매하고 있습니다. 이 외에도 당사는 기술과 관련된 38개의 핵심 특허를 보유하고 있습니다.

당사는 진단시약 개발에만 머물지 않고 시약 원재료, 장비 등에 이르기까지 자체 기술을 개발하고 있으며, 독보적인 시약 개발 자동화 시스템인 SGDDS(Seegene Digitalized Development System) 구축을 통한 SG OneSystem™ 실현을 위해 세계 최고 수준의 독자적인 신드로믹 정량 PCR 기술을 전세계에 공유하는 기술공유사업을 추진하고 있습니다.당사의 기술공유사업은 질병 없는 세상을 구현하기 위해 추진하는 글로벌 전략으로, 씨젠의 SG OneSystem™을 각국 대표 기업들에 공유하고 전세계 과학자들이 참여해 다양한 분야의 현지 맞춤형 진단제품을 직접 개발하는 것입니다. 당사는 2025년 4월 이스라엘 Hylabs, 2025년 5월 스페인 Werfen과 현지 법인을 설립하고 새로운 진단 시약 개발 기회를 확대하고 있습니다. 또한 기술공유사업의 일환으로, 2024년 1월 Microsoft와 전략적 협업 관계를 맺고 인공지능(AI) 기술을 활용해 기존의 시약 개발 자동화의 고도화를 꾀하고 있으며, 세계 과학자 및 전문가들과 네트워크를 구축하고 있는 Springer Nature와 공동으로 글로벌 진단시약 공모 프로젝트인 Open Innovation Program(OIP)을 진행하고 있습니다. 이와 관련하여 2024년 10월에는 영국 런던에서 Microsoft, Springer Nature와 기술공유사업 파트너 라운드 테이블(Technology-Sharing Initiative Partner Round Table)을 개최하였습니다.

또한 검사 데이터 실시간 통계 플랫폼 STAgora™, 다양한 검체에 대한 자동화 검사가 가능한 장비 시스템 CURECA™를 개발하고 있습니다. 이를 통하여 향후 환자 진료에 필요한 통계와 유사 사례 기반의 정보를 제공하고, 진단 검사 전반의 자동화 수준을 높이고자 합니다.

Company overview

가. 연결대상 종속회사 개황

나. 연결대상회사의 변동 내용

다. 회사의 법적ㆍ상업적 명칭

당사의 명칭은 주식회사 씨젠입니다. 영문명은 Seegene, Inc.이며, 약식명은 (주)씨젠 또는 Seegene입니다.

라. 설립 일자

당사는 유전자 분석 관련 기술 및 시약 개발 등을 목적으로 2000년 9월 16일 설립되었습니다.

마. 본사의 주소, 전화번호, 홈페이지 주소

바. 중소기업 등 해당 여부

중소기업 등 해당 여부

사. 주요 사업의 내용

당사는 유전자(DNA 및 RNA) 분석을 통하여 질병의 원인을 감별하는 분자진단 시약의 개발, 제조 및 공급 판매업을 주 사업으로 영위하고 있으며, 목표하는 유전자만 증폭시켜 질병의 다양한 원인을 정확하게 분석할 수 있는 멀티플렉스 유전자 증폭 시약 및 분석 소프트웨어의 원천 기술을 보유하고 있습니다.

[정관에 기재된 목적사업]

* 주요 종속회사인 Arrow Diagnostics s.r.l.의 주요 사업은 진단시약 및 장비 판매입니다.

아. 신용평가에 관한 사항

공시대상기간 중 해당사항 없습니다.

자. 회사의 주권상장(또는 등록ㆍ지정)여부 및 특례상장에 관한 사항

Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.03.19), tables and figures omitted.

  • The summary is written separately from the filed text and is not the filer's wording, so it may phrase things differently from or omit parts of the original, which is shown alongside for checking.
  • The company introduction reproduces the sentences the filer wrote in its business report, with tables, figures and the sentences that point to other sections of the report omitted, and the accuracy of their content has not been separately verified.

VaR

4.69%
[3.05%, 7.23%] · As of 2026-10-02
VaR by window

The headline's measure for each of the three windows on one scale, the dot being the estimate and the bar its interval. The windows are nested and share their observations, so the three readings are not three independent measurements. The selected window is highlighted.

Daily return distribution

The issue's daily returns over the chosen window counted into equal-width bins. The vertical lines mark the VaR and cVaR above on the loss side. The published VaR sample applies exclusion rules for halts and first sessions that this raw daily series does not, so the bars and the marks can differ slightly at the edges.

Drawdown

Deepest drawdown 23.6% (2026-03-23). How far below its previous peak the issue stood each day over the chosen window, a description of the path already travelled.

If these numbers are unfamiliarThere is a guide that walks through VaR, cVaR and annualized volatility in plain language.Read the guide

Characteristic line

0.57
Beta [0.50, 0.65] · KOSDAQ150 · As of 2026-10-08
Intercept
+0.151%[-0.151%, +0.453%]
R squared
0.36
Observations
252
Trading-time corrected beta
0.47[0.34, 0.61]
252-day rolling beta

A 252-day window rolled one day at a time over the longest daily span of the characteristic line. It shows when the beta against the KOSDAQ150 and the annualized volatility of the issue's excess return rose and fell, and unlike the headline figures above it carries no interval.

252-day rolling annualized volatility

Each point is one period's index excess return and issue excess return, and the line is the regression fitted to those points. The risk-free rate is the certificate of deposit rate.

Financials

20152016201720182019202020212022202320242025TTM
RevenueKRW 100M6517378771,0231,22011,25213,7088,5363,6744,1434,7425,093
Revenue growth%—13.1418.9616.6619.25822.6621.83-37.73-56.9612.7614.48—
Operating incomeKRW 100M861011401062246,7626,6671,965-301-165345617
Operating income growth%—16.7538.64-24.00111.052,915.59-1.41-70.53-115.29———
Net incomeKRW 100M6872411072675,0315,3761,8247-203484803
Net income growth%—5.65-43.44164.43149.361,783.756.84-66.06-99.60-2,864.59——
Attributable to ownersKRW 100M6871401072675,0235,3661,8217-203483802
Attributable to minoritiesKRW 100M001-0091031121
Operating margin%13.2613.6815.9510.3918.3960.0948.6323.02-8.18-3.987.2912.11
Net margin%10.419.724.6210.4721.9044.7239.2121.370.20-4.8910.2215.77
ROE%5.015.022.868.3817.4877.8349.6215.870.07-2.084.757.72
ROA%3.493.452.256.5413.6545.9736.0813.120.06-1.683.926.34
Debt ratio%43.4245.9728.1627.6228.0669.3337.4820.9121.4522.8021.6621.81
Current ratio%1,319.801,060.68601.60444.72491.11208.60367.39530.28483.18462.25467.81461.76
Quick ratio%1,191.31968.10503.86354.20424.90171.54292.60437.33398.30394.50419.66419.22
Reserve ratio%———————4,693.814,544.264,318.324,418.054,525.64
Free cash flowKRW 100M-631071451112312,0912,7242,5576984541,120—
FCF margin%-9.7014.4616.5510.8318.9218.5919.8729.9618.9910.9623.61—
OCF conversion%-45.35231.21477.49130.79101.6176.1562.14174.8612,947.57—308.25—
Capex to revenue%4.988.005.512.873.3315.474.507.416.859.657.88—
Receivable daysdays—276.2223.6176.3147.358.386.296.8100.380.876.3—
Inventory daysdays—243.5204.1226.1189.6107.6176.3190.2347.3256.7205.2—
Payable daysdays—135.5118.5135.2130.2105.7120.774.9106.993.197.2—
Cash conversion cycledays—384.3309.1267.2206.760.3141.8212.1340.6244.4184.4—
EPSKRW2642731534091,01719,14610,2743,48813-3899241,535
PERx—128.02218.9539.1330.1510.085.947.801,787.67—25.7519.35
BPSKRW—5,4125,3344,8805,81524,59820,70621,97719,67818,73819,44319,894
PBRx—6.466.283.285.277.852.951.241.161.221.221.49
Dividend per shareKRW————1001,5001,0008008008001,000—
Payout ratio%————9.847.839.7322.946,245.15—108.18—

Consolidated basis

Profit flowKRW 100M

Revenue
4,742
Gross profit
3,039
Cost of sales
1,704
Other
2,693
Operating income
345
Non-operating income
219
Profit before tax
564
Net income
484
Income tax expense
80

This diagram traces where revenue goes at each step on its way to net income, using the filed amounts as they are. The non-operating result is taken as the difference between profit before tax and operating income and is shown as income or expense by its sign, and whatever a step's items leave unexplained is shown separately as other.

Revenue compositionKRW 100M

Margins%

Cash flow by activityKRW 100M

Balance sheet compositionKRW 100M

Debt ratio%

The left bar splits assets into current and non-current and the right bar splits the financing of those assets into liabilities and equity, so the two bars stand at the same height.

Quarterly resultsKRW 100M

Year-on-year growth%

Each quarterly bar is that quarter's three months and is never mixed with an annual figure. The growth rate is computed only where the same quarter a year earlier is also shown here, and is left blank when the base was a loss.

Cash conversion cycledays

Free cash flow breakdownKRW 100M

Inventory days and receivable days stack upward, payable days hang downward, and the cash conversion cycle they net to is drawn as the line. Each day count uses the average balance with the prior year, so the oldest year is not drawn. A day count whose line was not filed is left out, and the cycle is shown only for years that carry all three.

Free cash flow is cash from operating activities less spending on property, plant and equipment, and all three bars keep the sign as filed.

Owners' net margin%

Asset turnoverx

Financial leveragex

ROE%

ROE is the product of the owners' net margin, asset turnover and financial leverage. All three use period-end balances as denominators, and profit and equity are on the owners' basis, so the product matches the ROE in the table.

Financial statements

Balance sheet

20152016201720182019202020212022202320242025
1,9402,0761,797*1,6381,95710,94614,89713,90812,51512,05312,358
5876543953544294,4824,0612,4052,2112,2382,200
1,3531,4221,402*1,2841,5286,46410,83611,50310,3049,81510,158

Income statement

20152016201720182019202020212022202320242025
651737877*1,0231,22011,25213,7088,5363,6744,1434,742
86101140*1062246,7626,6671,965-301-165345
899430*1072776,6916,8922,256-14-94564
687241*1072675,0315,3761,8247-203484
Basic earnings per shareKRW264273153Not applicableNot applicableNot applicableNot applicableNot applicableNot applicableNot applicableNot applicable
Diluted earnings per shareKRW264273153Not applicableNot applicableNot applicableNot applicableNot applicableNot applicableNot applicableNot applicable
656728*1032664,9625,3651,88455-166595

Cash flow statement

20152016201720182019202020212022202320242025
Net incomefrom the income statement6872411072675,0315,3761,8247-203484
Total adjustments to operating cash flowcomputed-9994153334-1,200-2,0351,3669421,0571,009
-31*166193*1402713,8323,3403,1909498541,493
-255*-98*-32*9*-69-1,927-1,027-1,040-2,783347-1,332
497*19-375-101*-42719-1,103-1,445-1,567-637-640
Cash at beginning of periodKRW 100M1954094982783264913,0814,3215,2131,9032,597
4094982783264913,0814,3215,2131,9032,5972,256
Net change in cash and cash equivalentsKRW 100M21489-220481652,5901,240892-3,310694-341

In the latest fiscal year cash generated by operations covered both investing outflows and financing outflows.

A year whose own filing is absent is filled from the restated comparative in the following filing, and is marked as such. Operating indicators outside the statements, such as order backlogs, and audit opinions are not covered here, and per-share figures follow the filed values without retroactive adjustment for share splits.

Transcribed verbatim from the sentences the filer wrote in the fiscal {year} business report (received {date}), with tables, figures and cross-references to other sections omitted.

The newest annual filing shown was received on 2026.03.19.

Audit opinion

Fiscal yearOpinionAuditorFiscal year end
2025적정의견Term 26삼정회계법인2025-12-31
2024적정의견Term 25안진회계법인2025-12-31
2023적정의견Term 24안진회계법인2025-12-31
2022적정Term 23안진 회계법인2022-12-31
2021적정Term 22삼덕 회계법인2022-12-31
2020적정Term 21삼덕 회계법인2022-12-31
2019적정Term 20우덕회계법인2019-12-31
2018적정Term 19우덕회계법인2019-12-31
2017적정Term 18우덕회계법인2019-12-31
2016적정Term 17우덕회계법인2016-12-31
2015적정Term 16우덕회계법인2016-12-31
2014적정Term 15우덕회계법인2016-12-31

The auditor's name and the opinion are transcribed verbatim from the filed audit report, and the wording follows the filer. A fiscal year shown twice means the filing carried two entries that the source does not distinguish.

Korean audit opinions come in four kinds, where an unqualified opinion (적정) finds the statements fairly presented, a qualified opinion (한정) does so except for a stated matter, an adverse opinion (부적정) finds them not fairly presented, and a disclaimer of opinion (의견거절) means the auditor could not obtain enough evidence to form a view.

Valuation

Valuation multiplesx

PER and PBR divide each period's closing price by the per-share figure filed for that same period, and a loss period is left blank. The quarterly view is a multiple of quarterly EPS.

Dividend historyKRW

The dividend-per-share bars are restated onto the current share basis for splits and par-value changes. The payout ratio and the dividend yield divide figures filed for the same period and are left unadjusted.

Payout ratio and dividend yield%

PER bandKRW

The price is the adjusted close and each band line multiplies the EPS of the latest completed fiscal year by a fixed multiple. The previous year's EPS stays in force until the next fiscal year ends, and the multiples divide the range between the lowest and highest annual PER on record into equal steps.

Valuation models

Five models priced under one set of assumptions, set beside the current price, with how each has moved by fiscal year.

Assumptions

Risk-free rate10-year treasury yield · 2026-10-084.40%
BetaDaily 5Y0.61
%
%
Cost of equity7.45%
Weighted average cost of capital7.36%
Initial growth0.0%
Effective tax rate14.2%
Base fiscal year2025
Current priceKRW38,150

The risk premium and the terminal growth rate are adjustable assumptions, and the rest follow from the data and the formulas.

ModelModel priceKRWVersus current price
Gordon growth model18,721-50.9%
Dividend discount model DDM17,863-53.2%
Discounted cash flow FCFF43,130+13.1%
Discounted cash flow FCFE38,225+0.2%
Residual income model RIM10,473-72.5%
The table prices the newest fiscal year's accounts at today's treasury yield and the current price.

Dividend and residual income familyKRW

Discounted cash flow familyKRW

Each fiscal year's figures use that year's accounts and the treasury yield at its period end, with beta held at its current value, and splits or par changes are restated to the current share basis.

How the figures are calculated

Each model's formula is shown in symbols and then with this issue's own numbers substituted, step by step. Changing a value in the assumptions panel changes the numbers here too. Firm-level amounts are in hundred million won and per-share values in won.

Cost of equity

r=rf+β×ERPr = r_f + \beta \times \mathit{ERP}

r = 4.40% + 0.61 × 5.00% = 7.45%

Initial growth

g1=max⁡{ROE×(1−payout), 0},gt=g1+(gT−g1) t−1N−1g_1 = \max\{\mathit{ROE} \times (1 - \text{payout}),\,0\},\qquad g_t = g_1 + (g_T - g_1)\,\frac{t-1}{N-1}

g_1 = max(4.75% × (1 − 100.00%), 0) = 0.00%

Growth starts at this value in the first year and falls by equal steps each year to reach the terminal rate in the fifth

Gordon growth model

P0=D0 (1+gT)r−gTP_0 = \frac{D_0\,(1 + g_T)}{r - g_T}

P_0 = 1,000 × (1 + 2.00%) / (7.45% − 2.00%) = 1,020 / 0.0545 = 18,721 KRW

Dividend discount model DDM

P0=∑t=1NDt(1+r)t+DN(1+gT)(r−gT) (1+r)N,Dt=Dt−1(1+gt)P_0 = \sum_{t=1}^{N} \frac{D_t}{(1+r)^t} + \frac{D_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad D_t = D_{t-1}(1+g_t)

D_0 = 1,000, g_1 = 0.00%, g_T = 2.00%, r = 7.45%

YearGrowthDividend KRWDiscount factorPresent value KRW
10.00%1,0000.9307931
20.50%1,0050.8662870
31.00%1,0150.8061818
41.50%1,0300.7502773
52.00%1,0510.6982734
Terminal value2.00%19,6740.698213,737
Total17,863

P_0 = 17,863 KRW

Residual income model RIM

P0=B0+∑t=1NRIt(1+r)t+RIN(1+gT)(r−gT) (1+r)N,RIt=(ROE−r) Bt−1P_0 = B_0 + \sum_{t=1}^{N} \frac{\mathit{RI}_t}{(1+r)^t} + \frac{\mathit{RI}_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad \mathit{RI}_t = (\mathit{ROE} - r)\,B_{t-1}

B_0 = 19,443 KRW, ROE = 4.75%, payout ratio = 100.00%, r = 7.45%, g_T = 2.00%

YearOpening book valueEarningsEquity chargeResidual incomeDiscount factorPresent value
119,4439241,448-5240.9307-488
219,4439241,448-5240.8662-454
319,4439241,448-5240.8061-422
419,4439241,448-5240.7502-393
519,4439241,448-5240.6982-366
Terminal value-9,8070.6982-6,848

P_0 = 19,443 + -2,122 + -6,848 = 10,473 KRW

Discounted cash flow FCFF

FCFF0=CFO−CapEx+Int (1−τ),WACC=ED+E r+DD+E kd (1−τ)\mathit{FCFF}_0 = \mathit{CFO} - \mathit{CapEx} + \mathit{Int}\,(1-\tau),\qquad \mathit{WACC} = \frac{E}{D+E}\,r + \frac{D}{D+E}\,k_d\,(1-\tau)

Base-year cash flow FCFF

FCFF_0 = 1,493.3 − 373.6 + 44.0 × (1 − 14.16%) = 1,157.5 KRW hundred million

Weighted average cost of capital

E = 19,924.2, D = 763.1 KRW hundred million; equity weight = 96.31%, debt weight = 3.69%; cost of debt k_d = 5.77%

WACC = 96.31% × 7.45% + 3.69% × 5.77% × (1 − 14.16%) = 7.36%

Vfirm=∑t=1NFCFFt(1+WACC)t+FCFFN(1+gT)(WACC−gT) (1+WACC)N,FCFFt=FCFFt−1(1+gt),P0=Vfirm−D+CashSharesV_{\text{firm}} = \sum_{t=1}^{N} \frac{\mathit{FCFF}_t}{(1+\mathit{WACC})^t} + \frac{\mathit{FCFF}_N (1+g_T)}{(\mathit{WACC} - g_T)\,(1+\mathit{WACC})^N},\qquad \mathit{FCFF}_t = \mathit{FCFF}_{t-1}(1+g_t),\qquad P_0 = \frac{V_{\text{firm}} - D + \text{Cash}}{\text{Shares}}
YearGrowthCash flow KRW hundred millionDiscount factorPresent value KRW hundred million
10.00%1,157.50.93151,078.2
20.50%1,163.30.86771,009.4
31.00%1,175.00.8082949.6
41.50%1,192.60.7528897.8
52.00%1,216.40.7012853.0
Terminal value2.00%23,165.20.701216,244.3
Total21,032.3

Firm value = 21,032.3; less borrowings 763.1; plus cash 2,255.7 → 22,525.0 KRW hundred million

P_0 = 22,525.0 KRW hundred million ÷ 52,225,994 (shares) = 43,130 KRW

Discounted cash flow FCFE

FCFE0=CFO−CapEx+ΔD,P0=1Shares[∑t=1NFCFEt(1+r)t+FCFEN(1+gT)(r−gT) (1+r)N],FCFEt=FCFEt−1(1+gt)\mathit{FCFE}_0 = \mathit{CFO} - \mathit{CapEx} + \Delta D,\qquad P_0 = \frac{1}{\text{Shares}}\left[\sum_{t=1}^{N} \frac{\mathit{FCFE}_t}{(1+r)^t} + \frac{\mathit{FCFE}_N (1+g_T)}{(r - g_T)\,(1+r)^N}\right],\qquad \mathit{FCFE}_t = \mathit{FCFE}_{t-1}(1+g_t)

Base-year cash flow FCFE

FCFE_0 = 1,493.3 − 373.6 + -2.2 (net borrowing) = 1,117.6 KRW hundred million

YearGrowthCash flow KRW hundred millionDiscount factorPresent value KRW hundred million
10.00%1,117.60.93071,040.1
20.50%1,123.20.8662972.8
31.00%1,134.40.8061914.5
41.50%1,151.40.7502863.8
52.00%1,174.40.6982820.0
Terminal value2.00%21,987.10.698215,352.2
Total19,963.5

P_0 = 19,963.5 KRW hundred million ÷ 52,225,994 (shares) = 38,225 KRW

The cost of equity is the risk-free rate plus beta times the equity risk premium. Initial growth is the newest fiscal year's return on equity times its retention ratio, floored at zero, and falls by equal steps from that value in the first year to the terminal rate in the fifth. Only the Gordon model grows at the terminal rate from the start. Discounted cash flow starts from operating cash flow less capital expenditure, where FCFF adds after-tax interest paid and discounts at the weighted average cost of capital, and FCFE adds net borrowing and discounts at the cost of equity. The residual income model adds to book value per share the present value of earnings above the equity charge.

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