Choong Ang Vaccine Laboratory

Choong Ang Vaccine Laboratory

KKRX:072020
8,850.00
KRW
-100.00
(-1.12%)
790.93EPS
11.38P/E
83.31BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2,691.42
3,270.33
3,827.86
4,187.07
2,932.75
3,560.82
3,300.56
3,673.32
4,154.97
4,032.47
4,334.69
4,745.61
5,228.2
5,192.35
Basic EPS, GAAP
491.84
473.23
359.98
685.98
421.46
371
186
320
772
415
621
713
656
790.93
Free Cash Flow per Basic Share
-291.65
268.05
761.69
54.32
-554.63
-61.02
153.04
-716.96
-288.45
-8.6
1,116.97
648.63
201.95
548.13
Dividend per Share
40.46
40.43
40.49
40.43
33.68
39.31
49.95
50.36
70.08
100.13
100.08
150.8
173.14
- -
Book Value per Share
5,318.13
5,745.41
6,064.89
6,671.04
7,147.48
8,535.7
8,672.56
8,880.48
9,527.51
9,859.42
10,333.1
10,866.27
11,382.9
11,538.85
Tangible Book Value per Share
5,193.28
5,602.65
5,922.88
6,552.85
7,042.37
8,435.45
8,594.88
8,835.26
9,494.16
9,814.04
10,277.92
10,754.98
11,265.37
11,425.37
Basic Weighted Avg Shares
9
9
9
9
11
9
10
10
10
10
10
10
9
9
Sales/Revenue/Turnover
24,349
29,609
34,605
37,900
31,867
33,153
32,903
36,318
40,914
39,299
41,868
45,593
49,069
48,420
Operating Margin (%)
20.94
18.7
10.5
18.44
17.41
10.57
8.25
11.1
11.1
10.9
16.7
12.63
13.2
14.85
Depreciation Expense
3,402
3,078
3,644
2,988
3,429
4,071
4,391
4,390
5,006
6,054
5,513
5,485
6,323
6,539
Net Income, GAAP
4,450
4,284
3,254
6,209
4,579
3,454
1,854
3,164
7,602
4,044
5,998
6,850
6,157
7,376
Effective Tax Rate (%)
15.09
16.2
10.86
14.82
14.54
3.72
10.92
4.51
- -
15.86
19.8
13.98
6.08
3.54
Profit Margin (%)
18.27
14.47
9.4
16.38
14.37
10.42
5.64
8.71
18.58
10.29
14.33
15.02
12.55
15.23
Working Capital
15,729
19,160
22,202
27,230
22,168
38,475
34,992
29,888
25,482
26,277
37,908
40,438
39,516
41,382
LT Debt
500
400
- -
3,500
5,400
2,400
2,512
4,732
5,340
5,975
6,820
7,026
4,916
4,913
Total Equity
48,123
51,989
54,880
60,365
64,676
85,004
86,367
87,550
92,976
95,304
99,804
103,867
105,369
106,813
Return on Invested Capital (%)
8.74
8.59
5.8
9.65
6.71
4.11
2.67
4.09
- -
3.38
5.13
4.41
5.38
6.19
Return on Capital (%)
9.25
8.34
6
10.24
6.61
4.46
2.18
3.45
- -
3.99
5.74
6.31
5.65
6.78
Return on Common Equity (%)
9.65
8.56
6.09
10.78
7.32
4.62
2.16
3.64
8.42
4.3
6.15
6.73
5.89
7.05

Capital Structure

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
2,156
2,141
1,466
LT Borrowings
5,507
4,840
4,840
LT Finance Leases
102
76
73
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
9
9
9
Market Capitalization
90,686
90,716
83,311

Working Capital

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
52,721
51,610
53,621
Cash, Cash Equivalents & STI
25,861
24,238
24,356
Accounts Receivable, Net
4,647
4,371
4,990
Inventories
21,363
22,029
23,283
Total Current Liabilities
11,425
12,094
12,238
Payables & Accruals
- -
- -
- -
ST Debt
2,156
2,141
1,466
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.05%
3.79%
1.45%
Free Cash Flow
-1,567.83%
-2,647.23%
-69.58%
Net Income, GAAP
21.01%
29.17%
-10.12%
Sales/Revenue/Turnover
3.9%
6.35%
7.62%
Total Cash Common Dividend
- -
28.22%
12.16%

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
11,340
12,296
10,721
11,236
45,593
2025
13,242
12,046
10,977
12,804
49,069
2026
12,594
- -
- -
- -
- -

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
173
215
98
227.7
713
2025
222
74
181
179
656
2026
352.4
- -
- -
- -
- -

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
150.8
2025
- -
- -
- -
- -
173.14
2026
- -
- -
- -
- -
- -

Company Description

CEO
In-Joong Yoon
Full Time Employees
194
Sector
Health technology
Industry
Pharmaceuticals: major
Address
Daejeon South Korea
IPO Date
Oct 31, 2003
Business
Choong Ang Vaccine Laboratories Co., Ltd. (CAVAC) is a South Korea-based biotechnology and animal health company primarily engaged in the research, development, manufacturing, and distribution of veterinary biological products, vaccines, pharmaceuticals, and diagnostic reagents. Founded in 1968 and headquartered in Daejeon, South Korea, the company operates under KOSDAQ ticker 072020. Choong Ang Vaccine Laboratories serves livestock producers, veterinary clinics, agricultural cooperatives, and public epidemic prevention authorities across domestic and international markets. The company's core product portfolio encompasses swine biologicals under the SuiShot brand, including vaccines for porcine epidemic diarrhea (PED-X), porcine reproductive and respiratory syndrome (PRRS), porcine circovirus type 2 (SuiShot Circo-One), swine erysipelas, and mycoplasmal pneumonia; poultry vaccines marketed under the Fowlshot brand, targeting avian influenza, Newcastle disease, infectious bronchitis, and fowl adenovirus; companion animal healthcare products under the CaniShot and FelliShot brands, comprising multivalent canine vaccines for distemper, infectious hepatitis, parvovirus, parainfluenza, and leptospirosis, as well as kennel cough, rabies, and feline viral combinations; bovine health solutions, providing preventative vaccines against bovine viral diarrhea and respiratory disease complexes; specialized biological formulations, including wildlife oral rabies bait vaccines, viral hemorrhagic disease vaccines for rabbits, and aquatic bacterial vaccines for olive flounder; and animal diagnostic solutions, including purified protein derivative (PPD) tuberculin reagents and diagnostic antigens. Choong Ang Vaccine Laboratories operates research and development facilities in Daejeon alongside Good Manufacturing Practice (GMP)-certified production plants in Nonsan, Chungcheongnam-do, exporting its products to more than 20 countries across East Asia, Southeast Asia, the Middle East, and Latin America. In recent developments, Choong Ang Vaccine Laboratories has accelerated its international commercial expansion through strategic distribution agreements, including partnerships with Elanco Animal Health to introduce products such as SuiShot Circo-One into international markets including China and Brazil. Furthermore, the company has attained regulatory approvals for new biological innovations, including its CaniShot oral rabies bait vaccine, while continuously expanding production capacity at its Nonsan manufacturing site and advancing R&D for next-generation swine and poultry preventative formulations to address evolving global animal health epidemics.