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Korean biomaterials company making human/animal tissue-derived implants for dental, orthopedic and skin-regeneration procedures.
Korean biomaterials company making human/animal tissue-derived implants for dental, orthopedic and skin-regeneration procedures.
Sells processed tissue products from human donors, such as acellular dermal matrix, a graft used in reconstructive and aesthetic surgery, as well as bone and dental grafts, mainly through distributors in Korea and abroad. Each product needs separate regulatory approval, so launches follow approvals market by market.
Moat: narrow (regulatory licence, process know-how). Tissue-processing and regulatory approvals for implantable biomaterials are hard to replicate quickly.
Headquarters: Seoul, South Korea · Employees: 155
Size L&C BIO (290650.KS) is a South Korea Health Care company (Medical Specialties) with a market value of $1.07B, the 223rd largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩60,000 on 6 Nov 2026.
Performance Over six months the shares fell 17.5%, against -3.6% for the median peer and -24.5% for the South Korea market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 53.1% over the last twelve months (peer median +11.0%); the operating margin is 16.6% (peer median 7.2%).
Valuation It trades at 213.2× forward earnings against a peer median of 20.9× (2nd most expensive of 12).
Capital Return on invested capital runs 4.8 points below its cost of capital (8.6% WACC).
Next results Next results expected around 18 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩116B | ₩85.5B | ₩72.0B | ₩65.9B | ₩52.6B |
| Revenue growth | — | +19% | +9% | +25% | — |
| Gross profit | ₩64.3B | ₩41.3B | ₩33.4B | ₩31.8B | ₩25.6B |
| EBITDA | ₩31.2B | ₩11.6B | ₩10.1B | ₩12.7B | ₩13.7B |
| Net income | -₩149B | -₩138B | ₩142B | ₩48.4B | ₩4.54B |
| Free cash flow | -₩3.74B | -₩3.25B | -₩13.3B | -₩36.6B | -₩43.6B |
| Capital expenditure | ₩34.6B | ₩17.0B | ₩5.35B | ₩25.0B | ₩37.7B |
| Total debt | ₩63.8B | ₩92.2B | ₩124B | ₩82.1B | ₩81.9B |
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| Measure | 290650.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +29.0% | +0.3% | 2nd highest of 21 |
| 6-month return | -17.5% | -3.6% | 8th lowest of 20 |
| Distance from 52-week high | -52.0% | -33.6% | 5th lowest of 21 |
| Revenue growth (TTM) | +53.1% | +11.0% | highest of 20 |
| Operating margin | 16.6% | 7.2% | 6th highest of 20 |
| Forward P/E | 213.2× | 20.9× | 2nd most expensive of 12 |
| ROIC minus cost of capital | -4.8 pp | -5.8 pp | 10th highest of 20 |
| EV / EBITDA | 47.7× | 23.6× | most expensive of 6 |
| Net debt / EBITDA | 0.7× | 4.9× | 2nd least indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| L&C BIO 290650.KS | South Korea | $1.07B | -17% | +53% | 17% | 213.2× | n/a | n/a |
| INKON Life Technology 300143.SZ | China | $1.08B | -14% | +22% | 12% | 55.2× | 12.4% | +12.9% |
| Tinavi Medical Technologies 688277.SS | China | $1.08B | -30% | -2% | -59% | n/a | n/a | n/a |
| PHC 6523.T | Japan | $1.09B | +36% | +3% | 7% | 7.9× | -2.3% | +3.6% |
| SI-BONE SIBN | United States | $1.09B | +98% | +14% | -8% | n/a | n/a | n/a |
| Freenome FRNM | United States | $1.09B | n/a | n/a | n/a | n/a | n/a | n/a |
| Edan Instruments 300206.SZ | China | $1.05B | -19% | +14% | 17% | 18.8× | 7.7% | -2.9% |
| Integra LifeSciences IART | United States | $1.04B | -4% | +1% | 12% | 5.8× | 5.2% | +3.6% |
| Amoy Diagnostics 300685.SZ | China | $1.10B | -14% | +7% | 34% | 20.9× | 6.5% | +10.3% |
| IRadimed IRMD | United States | $1.10B | 0% | +11% | 32% | 36.0× | 19.1% | +21.5% |
| Beijing Wandong Medical Technology 600055.SS | China | $1.11B | -27% | -11% | -33% | n/a | n/a | n/a |
| Ceribell CBLL | United States | $1.03B | +32% | +31% | -70% | n/a | n/a | n/a |
| Beijing Strong Biotechnologies 300406.SZ | China | $1.13B | +1% | -4% | 36% | 18.2× | 1.5% | +9.9% |
| Mingyue Optical Lens 301101.SZ | China | $1.14B | +6% | +14% | 25% | 33.7× | 10.0% | +8.8% |
| Castle Biosciences CSTL | United States | $993M | +64% | +3% | -9% | n/a | n/a | n/a |
| Alphatec ATEC | United States | $1.15B | -1% | +15% | -3% | 15.0× | n/a | n/a |
| Inno Laser Technology 301021.SZ | China | $1.16B | -18% | +17% | 9% | n/a | 53.9% | +8.6% |
| Artivion AORT | United States | $985M | -20% | +16% | 7% | 3,912.9× | n/a | n/a |
| Tandem Diabetes Care TNDM | United States | $1.18B | +9% | +4% | -4% | n/a | n/a | n/a |
| HOB Biotech 688656.SS | China | $972M | -22% | +6% | 7% | 188.9× | 40.1% | +12.4% |
| PROCEPT BioRobotics PRCT | United States | $1.18B | -19% | +23% | -34% | n/a | n/a | n/a |