AniPlus Inc

AniPlus Inc has a debt-to-equity ratio of 0.53, indicating a moderate reliance on debt financing, and a current ratio of 1.43, suggesting adequate short-term liquidity to cover its obligations. However, the company's free cash flow is negative at -1,004,733,340 KRW, and capital expenditures are substantial at -8,952,461,230 KRW, signaling significant reinvestment in operations. The negative net cash position, after subtracting total debt, raises concerns about liquidity risk.

Profitability metrics show a return on equity (ROE) of 1.8% and a return on assets (ROA) of 0.84%, both below the typical thresholds for high-performing entertainment production firms. The operating margin is 19.99% (calculated from operating income of 5,151,828,440 KRW on revenue of 25,724,269,790 KRW), which is relatively strong but must be compared to industry medians to assess competitive positioning.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification, which increases exposure to regional economic fluctuations. This lack of diversification could amplify the impact of macroeconomic downturns on its financial performance.

Looking ahead, the company is expected to maintain its current revenue trajectory, with no significant growth or contraction projected in the next fiscal year. The absence of a clear growth strategy or expansion into new markets may limit long-term value creation potential.

The risk assessment highlights medium liquidity risk and low dilution risk, with the primary flag being the negative net cash position after total debt. No recent dilutive events have been reported, and the number of shares outstanding remains unchanged between basic and diluted shares. Analysts have issued a single "buy" recommendation, with no strong buy or hold ratings, indicating cautious optimism.

No recent filings or transcripts have been disclosed that would suggest material changes in the company's operations or strategy. The absence of new product launches or strategic partnerships may indicate a stable but stagnant business model.

Analysts project 193.5% upside to a target price of 7,500 KRW, reflecting strong consensus buy recommendations for the stock.

Cash conversion ratio of 5.43 ranks as best-in-class compared to the 0.73 cohort median, demonstrating efficient cash generation.

Revenue grew 17.9% year-over-year to 150.3 billion KRW in FY2026, showing continued top-line expansion despite margin pressures.

High credit risk flags and a debt-to-equity ratio of 0.53, far exceeding the 0.1 cohort median, signal significant leverage concerns.

Revenue KRW 36.61B, +13,3% YoY; Operating income −260,2% YoY.

• ▍Revenue KRW 36.61B, +13,3% YoY
• ▍Operating income −260,2% YoY
• ▍Net income −203,7% YoY
• ▍Free cash flow −127,0% YoY
• ▍Net margin -14.8%

Revenue KRW 55.71B, +44,3% YoY; Operating income +171,7% YoY.

• ▍Revenue KRW 55.71B, +44,3% YoY
• ▍Operating income +171,7% YoY
• ▍Net income +167,3% YoY
• ▍Free cash flow +200,2% YoY
• ▍Net margin 20.9%

Revenue KRW 28.61B, −16,6% YoY; Operating income −61,6% YoY.

• ▍Revenue KRW 28.61B, −16,6% YoY
• ▍Operating income −61,6% YoY
• ▍Net income −60,9% YoY
• ▍Free cash flow −1 821,1% YoY
• ▍Net margin 5.9%

Revenue KRW 29.37B, +14,2% YoY; Operating income +1,9% YoY.

• ▍Revenue KRW 29.37B, +14,2% YoY
• ▍Operating income +1,9% YoY
• ▍Net income +139,8% YoY
• ▍Free cash flow +231,4% YoY
• ▍Net margin 14.1%

Revenue KRW 32.30B; Operating income KRW 4.34B.

• ▍Revenue KRW 32.30B
• ▍Operating income KRW 4.34B
• ▍Net margin 16.1%

Revenue KRW 38.62B; Operating income KRW 6.05B.

• ▍Revenue KRW 38.62B
• ▍Operating income KRW 6.05B
• ▍Net margin 11.3%

Revenue KRW 34.33B; Operating income KRW 8.11B.

• ▍Revenue KRW 34.33B
• ▍Operating income KRW 8.11B
• ▍Net margin 12.6%

Revenue KRW 25.72B; Operating income KRW 5.15B.

• ▍Revenue KRW 25.72B
• ▍Operating income KRW 5.15B
• ▍Net margin 6.7%

Revenue KRW 150.30B, +14,8% YoY; Operating income −24,6% YoY.

• ▍Revenue KRW 150.30B, +14,8% YoY
• ▍Operating income −24,6% YoY
• ▍Net income −22,8% YoY
• ▍Free cash flow −8,1% YoY
• ▍Net margin 8.0%

Revenue KRW 130.98B, +17,6% YoY; Operating income +4,8% YoY.

• ▍Revenue KRW 130.98B, +17,6% YoY
• ▍Operating income +4,8% YoY
• ▍Net income +75,5% YoY
• ▍Free cash flow +813,5% YoY
• ▍Net margin 11.9%

Revenue KRW 111.35B, +92,6% YoY; Operating income +126,5% YoY.

• ▍Revenue KRW 111.35B, +92,6% YoY
• ▍Operating income +126,5% YoY
• ▍Net income +121,6% YoY
• ▍Free cash flow −114,5% YoY
• ▍Net margin 8.0%