214450 - Pharma Research Co., Ltd.

214450 Summary

Medical Devices

Stock Price & Overview

₩386,500 +5,500 (+1.44%) Close · Sep 4, 2026 KST

KOSDAQ | ₩KRW | Close: ₩386,500 ≈ US$276 · Market cap ₩4.0tn (≈ $2.9bn)

214450 Financial Statements

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Revenue	536.3	350.1	261.0	194.8	154.1	108.7	83.9	64.3	54.5	46.0	37.5
Cost of Revenue	125.1	98.9	70.8	53.2	45.8	35.8	33.8	26.1	18.4	15.1	11.7
Gross Profit	411.2	251.2	190.3	141.5	108.3	72.9	50.1	38.2	36.1	30.8	25.8
Selling, General & Administrative	196.8	125.2	98.0	75.6	55.8	39.5	31.0	29.5	21.2	16.7	9.7
Operating Income	214.4	126.1	92.3	65.9	52.5	33.4	19.1	8.7	14.8	14.1	16.1
Finance Income	30.1	25.3	17.8	7.8	5.2	3.5	4.1	10.2	3.5	3.4	1.7
Finance Costs	20.9	41.0	6.1	11.7	1.9	3.3	3.3	1.6	1.8	0.2	0.8
Pretax Income	216.5	115.8	100.7	54.0	56.0	39.5	18.5	14.4	15.4	17.3	16.2
Income Tax Expense	48.3	26.9	23.4	10.6	9.2	7.1	3.7	3.1	2.9	3.5	3.3
Net Income	168.3	88.9	77.3	43.4	46.8	32.5	14.9	11.3	12.5	13.8	12.9
Total Comprehensive Income	168.2	90.8	78.5	39.4	46.2	32.1	15.3	12.0	11.9	14.0	12.9

Breakdown ₩ tn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Assets	1.04	0.86	0.54	0.48	0.43	0.32	0.27	0.26	0.19	0.18	0.17
Current Assets	0.76	0.55	0.26	0.25	0.21	0.13	0.10	0.11	0.11	0.13	0.13
Cash & Cash Equivalents	0.18	0.17	0.07	0.07	0.04	0.03	0.02	0.02	0.02	0.02	0.01
Inventories	0.08	0.06	0.05	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.00
Trade Receivables	0.04	0.04	0.03	0.03	0.03	0.02	0.02	0.02	0.01	0.01	0.01
Non-current Assets	0.28	0.30	0.28	0.23	0.22	0.19	0.17	0.15	0.08	0.05	0.04
Property, Plant & Equipment	0.17	0.15	0.12	0.12	0.11	0.09	0.07	0.07	0.03	0.02	0.02
Intangible Assets	0.03	0.03	0.03	0.04	0.04	0.04	0.04	0.05	0.00	0.00	0.00
Total Liabilities	0.32	0.29	0.07	0.11	0.10	0.06	0.04	0.04	0.01	0.01	0.01
Current Liabilities	0.11	0.08	0.07	0.05	0.05	0.04	0.02	0.02	0.01	0.01	0.01
Non-current Liabilities	0.21	0.20	0.01	0.05	0.05	0.02	0.02	0.02	0.00	0.00	0.01
Total Equity	0.72	0.57	0.46	0.37	0.33	0.26	0.23	0.22	0.18	0.17	0.16
Share Capital	0.01	0.01	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Retained Earnings	0.49	0.34	0.26	0.19	0.15	0.11	0.08	0.07	0.06	0.05	0.03

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Cash from Operating Activities	183.2	138.1	64.9	59.4	65.3	32.4	19.3	5.2	8.6	8.2	16.0
Cash from Investing Activities	-155.9	-225.5	-44.7	-11.9	-93.8	-36.2	-11.6	-18.3	-3.0	-1.0	-119.1
Purchase of Property, Plant & Equipment	29.7	36.4	12.1	17.2	20.6	34.8	9.6	28.6	6.8	1.4	0.4
Cash from Financing Activities	-15.3	182.6	-26.0	-9.3	43.0	11.1	-9.1	16.9	-5.7	-4.6	108.1
Dividends Paid	11.7	10.1	7.5	6.3	5.0	3.0	3.0	2.8	2.8	1.9	—
Net Change in Cash	10.3	98.1	-5.7	31.3	15.0	7.0	-1.4	4.1	-0.6	2.8	5.0

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Revenue	178.7	146.1	143.3	135.4	140.6	116.9	103.1	89.2	83.1	74.7
Cost of Revenue	41.2	33.2	33.9	26.3	33.4	31.5	27.4	24.6	23.9	22.9
Gross Profit	137.5	112.9	109.4	109.1	107.2	85.4	75.7	64.6	59.2	51.8
Selling, General & Administrative	71.1	55.6	57.5	47.3	51.3	40.7	42.0	29.6	28.5	25.1
Operating Income	66.5	57.3	51.9	61.9	55.9	44.7	33.7	34.9	30.8	26.7
Finance Income	16.4	19.3	11.2	6.0	7.3	5.6	10.8	2.5	8.5	3.5
Finance Costs	7.6	7.0	—	—	7.4	4.4	20.9	5.8	4.0	10.3
Pretax Income	74.1	68.0	49.9	64.8	55.8	45.9	23.6	31.0	38.0	23.3
Income Tax Expense	17.8	19.3	10.6	14.0	13.8	9.9	7.2	5.5	9.2	5.0
Net Income	56.2	48.7	39.3	50.9	42.0	36.0	16.4	25.5	28.7	18.3
Total Comprehensive Income	56.4	49.7	39.6	51.3	41.1	—	17.4	25.6	29.4	18.3

Breakdown ₩ tn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Assets	1.11	1.09	1.04	0.99	0.92	0.89	0.86	0.64	0.60	0.58
Current Assets	0.78	0.79	0.76	0.69	0.61	0.58	0.55	0.34	0.31	0.30
Cash & Cash Equivalents	0.22	0.20	0.18	0.17	0.14	0.15	0.17	0.13	0.10	0.12
Inventories	0.10	0.09	0.08	0.07	0.06	0.05	0.06	0.05	0.05	0.05
Trade Receivables	0.06	0.05	0.04	0.05	0.05	0.04	0.04	0.03	0.03	0.03
Non-current Assets	0.32	0.30	0.28	0.30	0.31	0.31	0.30	0.30	0.29	0.28
Property, Plant & Equipment	—	0.18	0.17	0.17	0.16	0.16	0.15	0.15	0.14	0.13
Intangible Assets	0.03	0.03	0.03	0.03	0.03	0.04	0.03	0.03	0.03	0.03
Total Liabilities	0.32	0.35	0.32	0.30	0.29	0.30	0.29	0.10	0.09	0.11
Current Liabilities	0.10	0.14	0.11	0.09	0.08	0.09	0.08	0.08	0.09	0.09
Non-current Liabilities	0.22	0.21	0.21	0.21	0.21	0.20	0.20	0.01	0.01	0.01
Total Equity	0.79	0.73	0.72	0.69	0.64	0.59	0.57	0.54	0.51	0.47
Share Capital	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Retained Earnings	0.56	0.50	0.49	0.46	0.41	0.37	0.34	0.32	0.30	0.27

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Cash from Operating Activities	33.1	31.2	61.5	47.1	39.1	35.5	39.5	33.8	30.2	34.7
Cash from Investing Activities	26.2	-1.7	-52.3	-16.4	-34.4	-52.7	-191.9	2.9	-45.8	9.3
Purchase of Property, Plant & Equipment	12.8	8.3	7.7	6.2	6.8	9.1	13.3	5.5	13.3	4.4
Cash from Financing Activities	-43.7	-4.3	-0.6	-0.7	-12.5	-1.4	184.2	-0.6	-11.2	10.2
Dividends Paid	—	—	0.0	0.0	—	—	0.3	0.0	9.8	0.0
Net Change in Cash	15.9	28.7	8.3	31.6	-11.0	-18.5	34.3	36.0	-26.5	54.4

Consolidated (CFS), from DART. 11 fiscal years and 10 quarters. Accounts matched on IFRS account_id, not Korean labels, so the same line holds across years where the Korean wording changed. Quarterly figures are three-month values: income quarters from DART's three-month column, cash-flow quarters differenced from DART's cumulative figures, and Q4 as annual minus nine-month cumulative.

214450 Growth

FY2025 ₩bn	Latest	1-yr	3-yr CAGR	5-yr CAGR	10-yr CAGR
Revenue	536.3	+53.2%	+40.2%	+37.6%	+30.5%
Operating income	214.4	+70.1%	+48.2%	+45.0%	+29.6%
Net income	168.3	+89.2%	+57.1%	+39.0%	+29.3%
EPS	₩16,195	+89.2%	+57.1%	+39.0%	+29.3%
Operating cash flow	183.2	+32.6%	+45.5%	+41.4%	+27.6%
Shareholders' equity	723.9	+27.1%	+24.9%	+22.3%	+16.5%

Compound annual growth from the DART annual statements on this page. n/m where either end of the period is a loss or missing. EPS uses today's share count for every year.

214450 Profitability

Ratio	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Gross margin	76.7%	71.8%	72.9%	72.7%	70.3%	67.0%
Operating margin	40.0%	36.0%	35.3%	33.8%	34.1%	30.7%
Net margin	31.4%	25.4%	29.6%	22.3%	30.4%	29.8%
Return on equity	26.0%	17.2%	18.5%	12.4%	15.8%	13.2%
Return on assets	17.7%	12.8%	15.2%	9.6%	12.5%	11.0%
Operating cash flow / revenue	34.2%	39.5%	24.9%	30.5%	42.4%	29.8%
Capex / revenue	5.5%	10.4%	4.6%	8.8%	13.4%	32.0%

Margins divide by revenue for the same year. Return on equity and assets divide net income by the average of that year's and the prior year's balance, as DART reports them (consolidated, including minority interests).

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What a US investor should know

Trading hours09:00–15:30 KST — 20:00–02:30 US Eastern the night before.
Daily limitKorean stocks can move at most ±30% in a session before trading halts.
Getting exposureKRX shares are not directly tradable in most US brokerage accounts. The usual routes are Korea ETFs or an international account.
ReportingKorean issuers file to DART, not the SEC. Half-year and quarterly reports land about 45 days after period end.