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Korean cosmetics ODM/OEM manufacturer, one of the world's largest contract makers of skincare and makeup products.
Korean cosmetics ODM/OEM manufacturer, one of the world's largest contract makers of skincare and makeup products.
Works as an original design manufacturer: it develops the formula itself, makes it and sells it to beauty brands that handle marketing and shelf space, so it earns a production margin and its sales follow the brands' demand. Its customer base is spread across many brands.
Moat: narrow (scale, process know-how). Large-scale formulation and manufacturing expertise trusted by many global beauty brands.
Headquarters: Seoul, South Korea · Founded: 1990 · Employees: 1,542
Size Kolmar Korea (161890.KS) is a South Korea Consumer Staples company (Household/Personal Care) with a market value of $1.89B, the 142nd largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩108,900 on 6 Nov 2026.
Performance Over six months the shares gained 22.8%, against -4.2% for the median peer and -24.5% for the South Korea market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 12.6% over the last twelve months (peer median +3.7%); the operating margin is 10.1% (peer median 9.8%).
Valuation It trades at 13.0× forward earnings against a peer median of 21.3× (3rd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.8 points above its cost of capital (5.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩2.93T | ₩2.72T | ₩2.45T | ₩2.16T | ₩1.87T |
| Revenue growth | — | +11% | +14% | +16% | — |
| Gross profit | ₩801B | ₩745B | ₩659B | ₩538B | ₩440B |
| EBITDA | ₩403B | ₩344B | ₩286B | ₩230B | ₩149B |
| Net income | ₩185B | ₩125B | ₩90.1B | ₩5.19B | -₩22.0B |
| Free cash flow | ₩146B | ₩127B | -₩31.8B | ₩5.95B | ₩52.1B |
| Capital expenditure | ₩190B | ₩242B | ₩261B | ₩125B | ₩57.5B |
| Total debt | ₩1.24T | ₩1.23T | ₩1.15T | ₩1.10T | ₩1.07T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Kolmar Korea 161890.KS | $1.89B | +23% | +13% | 10% | 13.0× | -0.9% |
| Cosmax 192820.KS | $2.13B | +21% | +16% | 8% | 16.6× | n/a |
| Cosmecca Korea 241710.KS | $798M | +25% | +44% | 13% | 14.4× | -5.9% |
| Intercos ICOS.MI | $1.50B | +16% | -5% | 9% | 19.5× | 4.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 161890.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.2% | +2.8% | lowest of 21 |
| 6-month return | +22.8% | -4.2% | 4th highest of 21 |
| Distance from 52-week high | -34.4% | -26.9% | 7th lowest of 21 |
| Revenue growth (TTM) | +12.6% | +3.7% | 5th highest of 21 |
| Operating margin | 10.1% | 9.8% | 11th highest of 21 |
| Forward P/E | 13.0× | 21.3× | 3rd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -0.9% | 4.5% | 7th least demanding of 17 |
| Growth delivered (Del g) | +15.5% | +4.6% | 4th highest of 17 |
| Hurdle (Req g minus delivered) | -16.5 pp | -2.1 pp | 3rd least demanding of 17 |
| ROIC minus cost of capital | +1.8 pp | +5.9 pp | 7th lowest of 21 |
| EV / EBITDA | 10.8× | 12.3× | 4th cheapest of 12 |
| Net debt / EBITDA | 2.5× | -1.1× | 3rd most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kolmar Korea 161890.KS | South Korea | $1.89B | +23% | +13% | 10% | 13.0× | -0.9% | +15.5% |
| Blue Moon 6993.HK | Hong Kong | $1.88B | -15% | -2% | -2% | 93.6× | n/a | n/a |
| Yunnan Botanee Bio-Technology 300957.SZ | China | $1.84B | -28% | +7% | 9% | 21.2× | 4.5% | +15.3% |
| Pola Orbis 4927.T | Japan | $1.96B | +8% | +1% | 10% | 28.8× | -3.1% | -0.7% |
| Emami EMAMILTD.NS | India | $1.80B | -15% | +3% | 20% | 21.4× | 21.7% | +5.6% |
| Shanghai Jahwa United 600315.SS | China | $1.74B | -13% | +9% | 2% | 18.1× | 17.1% | -2.1% |
| Cosmax 192820.KS | South Korea | $2.13B | +21% | +16% | 8% | 16.6× | n/a | n/a |
| Pigeon 7956.T | Japan | $1.66B | +30% | +7% | 13% | 26.3× | -1.3% | +1.9% |
| KOSE 4922.T | Japan | $2.16B | +7% | +3% | 4% | 27.2× | n/a | n/a |
| Energizer ENR | United States | $1.63B | +26% | +2% | 16% | 7.2× | -5.2% | +1.5% |
| Softcare 2698.HK | Hong Kong | $2.20B | -5% | +25% | 25% | 14.4× | 8.7% | +20.9% |
| Harbin Fuerjia Technology 301371.SZ | China | $1.58B | -30% | +28% | 20% | 22.5× | 8.7% | +3.6% |
| AMOREPACIFIC 002790.KS | South Korea | $1.55B | -3% | +9% | 9% | 8.4× | -17.9% | -1.3% |
| Intercos ICOS.MI | Italy | $1.50B | +16% | -5% | 9% | 19.5× | 4.5% | +11.5% |
| Procter & Gamble Hygiene & Health Care PGHH.NS | India | $2.40B | -29% | -2% | 24% | 27.3× | 15.4% | +7.4% |
| Chongqing Baiya Sanitary Products 003006.SZ | China | $1.49B | +25% | 0% | 3% | 41.2× | 30.6% | +22.8% |
| Guangdong Marubi Biotechnology 603983.SS | China | $1.45B | -4% | -6% | 2% | 37.0× | n/a | n/a |
| LG H&h 051900.KS | South Korea | $2.56B | -8% | -3% | 3% | 18.5× | -0.1% | -4.1% |
| Gillette India GILLETTE.NS | India | $2.56B | -7% | +8% | 28% | 33.0× | 16.0% | +13.0% |
| Winner Medical 300888.SZ | China | $2.69B | -2% | +4% | 11% | 20.9× | -4.3% | -2.6% |
| d'Alba Global 483650.KS | South Korea | $1.32B | -37% | +55% | 21% | 13.6× | -2.2% | +53.0% |