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161580KOSDAQ

Philoptics

41,900
+200 (+0.48%)

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

Philoptics was established on February 5, 2008, to manufacture and distribute equipment for printed circuit boards and flat panel displays. The company is listed on the KOSDAQ market and operates with a subsidiary called Philenergy.

The company provides automated equipment for OLED display, semiconductor, solar cell, and secondary battery manufacturing processes. Main products include laser cutting and lift off equipment for displays, glass packaging equipment for semiconductors, and notching and stacking equipment for batteries.

Business overview as filed

당사는 핵심 고유 기술인 광학기술을 기반으로 OLED 디스플레이 제조공정과 반도체, 태양광 그리고 전기차용 2차전지 제조공정에 사용되는 첨단 자동화장비를 제작 및 공급하고 있습니다.

당사는 세계 최초 OLED 디스플레이 Laser 가공 표준 설비를 양산하며 디스플레이 장비기업으로 성공적인 자리매김을 하였습니다. 주요제품으로는 Laser Cutting, Laser Lift Off, UTG 가공 장비 등이 있습니다. Laser Cutting 장비는 Laser 기술을 적용해 디스플레이 패널을직접 Cutting 하는 장비입니다. 원장에서 셀 단위로 Cutting 하거나, 셀 단위에서 Chamfer Cutting, Hole 가공 등에 적용되고 있습니다. Laser Lift Off 장비는 Flexible OLED 디스플레이패널 제작을 위한 박막 분리 장비입니다. 당시 국내 유일의 자체 기술력으로 라인 빔 광학계 개발에 성공하여 고객의 양산 라인에서 높은 품질을 평가 받았습니다. UTG 가공 장비는 디스플레이 커버 글래스를 커팅하는 장비입니다. 당사는 폴더블, 롤러블, 대면적 OLED등 다양한 형상에 대응할 수 있는 공정 기술로 제품 라인업 확장과 함께 디스플레이 산업발전에 기여하고 있습니다.또한 반도체 장비 산업 진출로 Laser TGV, Laser Drilling, Laser Singulation, DI노광기, AOI장비 등 반도체 글라스 패키징 공정에 대응할 수 있는 다양한 장비를 생산 및 국내외 주요 고객사에 공급 중에 있습니다. 태양광 사업에서는 태양광 발전 산업에서 사용되는 2세대 박막형 태양광 전지와 차세대 소재인 페로브스카이트(Perovskite) 기반의 3세대 태양광 전지, 텐덤(Tandem)형 태양광 전지를 제조할 수 있는 장비를 개발하여 공급하고 있습니다.당사는 이차전지의 조립 공정 중 핵심 설비인 Notching-Stacking 일체형 장비를 공급하며 업계 최고 지위를 확보하고 있습니다. 특히 46XX 원통형 배터리 권취기를 개발하여 글로벌 고객사에 공급하면서 매출처 다변화하는 성과를 거둔 바 있습니다. 또한 양극 합제부를레이저로 정밀 가공하는 기술을 기반으로 Laser Notching 장비를 개발 완료, 공급 레퍼런스를 쌓고 있습니다. 차세대 배터리 시장에서는 전고체 소재를 적층할 수 있는 설비를 고객사의 파일럿 라인에 공급하는 등 차세대 배터리 시장 진입을 위한 기술 고도화 와 양산라인 대량 공급을 위한 개발에 집중하고 있으며 또한 차세대 배터리 제조용 전극 공정에서레이저 기반으로한 제조 설비를 개발하여 고객사에 공급할 예정입니다. 전극 공정에서 극판의 생산량을 증대와 공정 비용 감소를 가져올 수 있는 노칭(Notching) 슬리팅(Slitting) 일체형 장비를 개발하여 제품 포트폴리오를 다변화하고 사업 영역을 다각화하고 있습니다.

Company overview

가. 연결대상 종속회사 개황

(1) 연결대상 종속회사 현황(요약)

주) 주요 종속회사인 필에너지는 2023년 7월 14일에 코스닥 상장법인이 되었습니다.

(2) 연결대상회사의 변동내용

나. 회사의 법적ㆍ상업적 명칭

당사의 명칭은 "주식회사 필옵틱스"라고 표기합니다.영문으로는 "Philoptics Co.,Ltd" 로 표기합니다.

다. 설립일자 및 존속기간

당사는 2008년 02월 05일에 인쇄 회로 기판(Printed Circuit Board) 관련 장비, 평판디스플레이(Flat Panel Display) 관련 장비와 부품 등의 제조 및 판매를 목적으로 설립되었으며, 2017년 6월 1일 코스닥시장에 상장한 주권상장법인입니다. 당사는 별도의 존속기간을 정하고 있지 않습니다.

라. 본사의 주소, 전화번호, 홈페이지 주소

마. 중소기업 등 해당 여부

바. 주요사업의 내용

당사는 독보적인 광학기술을 기반으로 노광기 국산화와 세계 최초 OLED 디스플레이 Laser 가공 표준 설비 양산, 세계 최고의 이차전지 공정용 Laser Notching 및 Stacking 설비 양산, 업계 최초의 Laser TGV 장비 공급 등 반도체 패키징 공정용 장비를 개발/제조하고 있습니다. 주요 제품으로는 Rigid 및 Flexible OLED 공정장비 등이 있습니다. 이외에도 반도체 제조 장비 사업을 신규로 추진 중이며, 2차전지 공정장비는 자회사에서 주력 사업으로 영위하고 있습니다.

사. 신용평가에 관한 사항

최근 3년간 신용평가에 관한 내용은 다음과 같습니다. (1) 신용평가등급

(2) 신용평가회사의 신용등급 정의

아. 회사의 주권상장(또는 등록ㆍ지정)여부 및 특례상장에 관한 사항

Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.03.24), 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

7.79%
[4.87%, 12.93%] · 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 68.0% (2026-07-30). 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

1.18
Beta [1.06, 1.30] · KOSDAQ150 · As of 2026-10-08
Intercept
+0.116%[-0.369%, +0.601%]
R squared
0.48
Observations
252
Trading-time corrected beta
1.24[0.95, 1.52]
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

2016201720182019202020212022202320242025TTM
RevenueKRW 100M1,8282,8545551,4041,8892,3083,0403,0004,1091,034561
Revenue growth%—56.12-80.55152.9034.5422.1831.72-1.3136.96-74.83—
Operating incomeKRW 100M156229-278-14918-105181103138-349-438
Operating income growth%—46.99-221.23——-686.66—-43.2434.39-352.91—
Net incomeKRW 100M153175-275-16043-103-52-434288-264-283
Net income growth%—13.77-257.37——-339.48———-191.64—
Attributable to ownersKRW 100M151171-275-16046-114-59-432215-170-192
Attributable to minoritiesKRW 100M24——-3117-174-94-91
Operating margin%8.548.04-50.11-10.630.95-4.565.953.423.36-33.73-77.95
Net margin%8.396.12-49.48-11.402.27-4.46-1.70-14.457.02-25.55-50.48
ROE%48.5717.58-41.50-27.475.40-13.90-7.74-39.9318.58-14.63-18.17
ROA%13.2511.15-14.53-8.381.35-3.71-1.59-9.627.54-6.89-7.23
Debt ratio%269.2261.19186.36227.98258.07220.93296.33154.9691.87100.09121.00
Current ratio%106.95152.91100.2970.4397.66105.01113.33142.86121.49118.60102.42
Quick ratio%100.75139.6124.5221.3163.5254.7855.4685.3183.9884.6146.15
Reserve ratio%1,178.233,393.97723.08587.54819.18753.30632.89916.32915.07898.65808.30
Free cash flowKRW 100M80-260-525-20187-903-366823-509-40—
FCF margin%4.40-9.11-94.65-14.324.59-39.11-12.0427.43-12.39-3.89—
OCF conversion%94.54109.95——966.14———-136.59——
Capex to revenue%3.5315.837.718.3617.389.772.599.602.8013.10—
Receivable daysdays—10.934.822.032.147.762.248.417.382.0—
Inventory daysdays—7.7230.0183.0147.0119.2126.6156.599.1236.2—
EPSKRW3,2903,227-1,609-930225-483-274-1,935942-736-820
PERx—10.88——69.33———19.37——
BPSKRW—16,7233,8323,1744,2983,9253,4684,6475,0614,9704,510
PBRx—2.101.913.293.632.562.022.023.618.828.18
Dividend per shareKRW—300————35188———
Payout ratio%—9.30—————————

Consolidated basis

Profit flowKRW 100M

This fiscal year shows a loss at gross profit, operating income, profit before tax or net income, so it is left to the table rather than drawn as a flow.

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

2016201720182019202020212022202320242025
1,1581,5661,8901,9103,1812,7703,2334,5093,8273,835
8445941,2301,3282,2921,9072,4182,7411,8331,918
3149716605828888638161,7691,9951,917

Income statement

2016201720182019202020212022202320242025
1,8282,8545551,4041,8892,3083,0403,0004,1091,034
156229-278-14918-105181103138-349
155198-278-16118-77-20-455302-334
153175-275-16043-103-52-434288-264
Basic earnings per shareKRW3,2903,227-1,609-930225-483*-274-1,935942-736
Diluted earnings per shareKRW3,0373,069-1,609-930231-412*-275-1,935932-736
153175-275-16043-102-51-438293-263

Cash flow statement

2016201720182019202020212022202320242025
Net incomefrom the income statement153175-275-16043-103-52-434288-264
Total adjustments to operating cash flowcomputed-817-20876372-574-2361,545-682360
145192-483-84415-677-2871,111-39495
-80-503-104-128-251166-67-352-205-207
62572314128575-4227538-39407
Cash at beginning of periodKRW 100M59186428155778003001861,477850
186428155778003001861,4778501,139
Net change in cash and cash equivalentsKRW 100M127241-272-78724-500-1151,291-627289

In the latest fiscal year operating and financing activities brought cash in while investing activities spent it.

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 2026.03.24.

Audit opinion

Fiscal yearOpinionAuditorFiscal year end
2025적정의견Term 18한울회계법인2025-12-31
2024적정의견Term 17한울회계법인2025-12-31
2023적정의견Term 16삼일회계법인2025-12-31
2022적정삼일회계법인2022-12-31
2021적정이촌회계법인2022-12-31
2020적정Term 13이촌회계법인2022-12-31
2019적정Term 12이촌회계법인2019-12-31
2018적정Term 11이촌회계법인2019-12-31
2017적정Term 10회계법인성지2019-12-31

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 5Y0.99
%
%
Cost of equity9.36%
Weighted average cost of capital—
Initial growth0.0%
Effective tax rate0.0%
Base fiscal year2025
Current priceKRW41,900

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 modelNo dividend
Dividend discount model DDMNo dividend
Discounted cash flow FCFFBase-year cash flow not positive
Discounted cash flow FCFE2,815-93.3%
Residual income model RIM-4,172-110.0%
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% + 0.99 × 5.00% = 9.36%

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(-14.63% × (1 − 0.00%), 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

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 = 4,970 KRW, ROE = -14.63%, payout ratio = 0.00%, r = 9.36%, g_T = 2.00%

YearOpening book valueEarningsEquity chargeResidual incomeDiscount factorPresent value
14,970-727465-1,1920.9144-1,090
24,243-621397-1,0180.8362-851
33,622-530339-8690.7646-664
43,093-452289-7420.6992-519
52,640-386247-6330.6394-405
Terminal value-8,7790.6394-5,613

P_0 = 4,970 + -3,529 + -5,613 = -4,172 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 = 95.2 − 135.5 + 90.0 (net borrowing) = 49.8 KRW hundred million

YearGrowthCash flow KRW hundred millionDiscount factorPresent value KRW hundred million
10.00%49.80.914445.5
20.50%50.00.836241.8
31.00%50.50.764638.6
41.50%51.30.699235.8
52.00%52.30.639433.4
Terminal value2.00%724.90.6394463.5
Total658.7

P_0 = 658.7 KRW hundred million ÷ 23,402,747 (shares) = 2,815 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.

Other issues on the same market

Neighbours in the market capitalisation order.

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