Ray Co., Ltd.

KOSDAQ:A228670 Stock Report

Market Cap: ₩71.2b

Ray Future Growth

Future criteria checks 3/6

Ray is forecast to grow earnings and revenue by 38.8% and 15.7% per annum respectively. EPS is expected to grow by 36.7% per annum. Return on equity is forecast to be 12.5% in 3 years.

Key information

38.8%

Earnings growth rate

36.67%

EPS growth rate

Medical Equipment earnings growth45.5%
Revenue growth rate15.7%
Future return on equity12.50%
Analyst coverage

Low

Last updated01 May 2026

Recent future growth updates

Recent updates

Analysis Article • Mar 29

Investors Shouldn't Be Too Comfortable With Ray's (KOSDAQ:228670) Earnings

Ray Co., Ltd.'s ( KOSDAQ:228670 ) robust earnings report didn't manage to move the market for its stock. Our analysis...
Analysis Article • Jan 19

Why Investors Shouldn't Be Surprised By Ray Co., Ltd.'s (KOSDAQ:228670) 30% Share Price Plunge

Ray Co., Ltd. ( KOSDAQ:228670 ) shares have had a horrible month, losing 30% after a relatively good period beforehand...
Analysis Article • Dec 05

Ray Co., Ltd.'s (KOSDAQ:228670) Shares Bounce 27% But Its Business Still Trails The Industry

Ray Co., Ltd. ( KOSDAQ:228670 ) shares have had a really impressive month, gaining 27% after a shaky period beforehand...
Analysis Article • Nov 19

Is Ray (KOSDAQ:228670) Using Too Much Debt?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • May 08

Further Upside For Ray Co., Ltd. (KOSDAQ:228670) Shares Could Introduce Price Risks After 35% Bounce

Ray Co., Ltd. ( KOSDAQ:228670 ) shareholders would be excited to see that the share price has had a great month...
Analysis Article • Mar 07

Ray (KOSDAQ:228670) Is Carrying A Fair Bit Of Debt

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Jan 21

Improved Revenues Required Before Ray Co., Ltd. (KOSDAQ:228670) Stock's 26% Jump Looks Justified

Those holding Ray Co., Ltd. ( KOSDAQ:228670 ) shares would be relieved that the share price has rebounded 26% in the...
Analysis Article • Nov 13

We Think Ray (KOSDAQ:228670) Has A Fair Chunk Of Debt

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Aug 05

Ray Co., Ltd. (KOSDAQ:228670) Not Doing Enough For Some Investors As Its Shares Slump 32%

The Ray Co., Ltd. ( KOSDAQ:228670 ) share price has fared very poorly over the last month, falling by a substantial...
Analysis Article • Jul 24

Ray (KOSDAQ:228670) Has A Somewhat Strained Balance Sheet

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analysis Article • May 25

Market Still Lacking Some Conviction On Ray Co., Ltd. (KOSDAQ:228670)

With a price-to-sales (or "P/S") ratio of 1.2x Ray Co., Ltd. ( KOSDAQ:228670 ) may be sending bullish signals at the...
Analysis Article • Mar 14

The Returns On Capital At Ray (KOSDAQ:228670) Don't Inspire Confidence

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Ideally, a business will...
Analysis Article • Mar 16

Is Ray (KOSDAQ:228670) Using Too Much Debt?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Feb 21

What Type Of Shareholders Make Up Ray Co., Ltd.'s (KOSDAQ:228670) Share Registry?

The big shareholder groups in Ray Co., Ltd. ( KOSDAQ:228670 ) have power over the company. Generally speaking, as a...
Analysis Article • Feb 02

With A Return On Equity Of 13%, Has Ray Co., Ltd.'s (KOSDAQ:228670) Management Done Well?

Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...
Analysis Article • Jan 14

We Wouldn't Rely On Ray's (KOSDAQ:228670) Statutory Earnings As A Guide

Statistically speaking, it is less risky to invest in profitable companies than in unprofitable ones. That said, the...
Analysis Article • Dec 27

If You Had Bought Ray (KOSDAQ:228670) Shares A Year Ago You'd Have Earned 11% Returns

On average, over time, stock markets tend to rise higher. This makes investing attractive. But if when you choose to...
Analysis Article • Dec 08

Here's Why Ray (KOSDAQ:228670) Can Manage Its Debt Responsibly

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Nov 19

Has Ray (KOSDAQ:228670) Got What It Takes To Become A Multi-Bagger?

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...

Earnings and Revenue Growth Forecasts

KOSDAQ:A228670 - Analysts future estimates and past financials data (KRW Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028173,11014,64724,678N/A1
12/31/2027149,29412,03722,73014,5002
12/31/2026124,11610,89325,43911,8001
3/31/2026112,5313,59215,08918,812N/A
12/31/2025111,3233,1389,25012,850N/A
9/30/202597,565-23,45211,32214,839N/A
6/30/202589,701-39,40514,92817,670N/A
3/31/202586,939-52,7579,50812,810N/A
12/31/202479,843-60,427-2,891205N/A
9/30/2024112,546-28,201-22,948-19,691N/A
6/30/2024128,613-22,552-39,529-36,932N/A
3/31/2024143,226-4,452-37,230-34,649N/A
12/31/2023145,882-2,146-25,443-22,791N/A
9/30/2023145,1437,518-23,985-20,132N/A
6/30/2023139,5916,462-46,909-19,720N/A
3/31/2023131,3965,346-41,773-10,358N/A
12/31/2022128,9987,957-40,940-8,231N/A
9/30/2022108,356-5,628-54,083-4,501N/A
6/30/2022100,533-2,984-19,8608,764N/A
3/31/202293,0261,241-13,75210,660N/A
12/31/202190,336-13-12,23311,172N/A
9/30/202184,68112,7279,30015,001N/A
6/30/202173,6769,9888,77115,267N/A
3/31/202157,8034,6459218,407N/A
12/31/202055,2057,904-4,4162,903N/A
9/30/202057,2607,979-5,1942,262N/A
6/30/202061,7818,891-5,777-874N/A
3/31/202071,98612,3401253,760N/A
12/31/201973,10911,555N/A6,040N/A
9/30/201969,51210,843N/A4,973N/A
3/31/201957,5947,019N/A3,371N/A
12/31/201851,5345,251N/A4,298N/A
12/31/201732,9291,154N/A1,101N/A
12/31/201626,4991,713N/A582N/A
12/31/201520,528207N/A-1,370N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: A228670's forecast earnings growth (38.8% per year) is above the savings rate (3.1%).

Earnings vs Market: A228670's earnings (38.8% per year) are forecast to grow faster than the KR market (33% per year).

High Growth Earnings: A228670's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: A228670's revenue (15.7% per year) is forecast to grow slower than the KR market (16.3% per year).

High Growth Revenue: A228670's revenue (15.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: A228670's Return on Equity is forecast to be low in 3 years time (12.5%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/12 13:19
End of Day Share Price 2026/06/12 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Ray Co., Ltd. is covered by 7 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Sanjeev RanaCLSA
Brian LeeCLSA
Sae-rom LeeDaishin Securities Co. Ltd.