ForCS Co. Ltd.

ForCS Co. Ltd.

KKRX:189690
1,444.00
KRW
-25.00
(-1.70%)
287.45EPS
6.06P/E
45.75BMarket Cap
Nov 12Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
641.96
544.1
525.75
481.88
710.5
743.07
816.68
923.76
1,083.73
1,217.37
1,183.65
1,286.48
1,392.58
1,380.29
Basic EPS, GAAP
207.11
210.36
159.94
78.09
248.46
70.83
192.89
165.71
240.67
192
179
178
290.23
287.67
Free Cash Flow per Basic Share
144.82
141.28
121.06
-934.06
130.26
109.22
63.99
148.54
141.94
92.11
254.89
240.59
285
282.48
Dividend per Share
6.93
7.06
23.27
23.67
25.98
26.13
27.44
29.64
30.23
31.76
34.44
53.3
51.69
51.24
Book Value per Share
856.35
1,528.47
1,653.51
1,710.35
1,938.27
1,984.26
2,163.47
2,320.58
2,545.3
7,755
2,718.29
2,849.83
3,085.83
3,085.83
Tangible Book Value per Share
830.84
1,483.04
1,594.72
1,638.74
1,868.75
1,912.37
2,056.57
2,202.95
2,416.05
7,338.52
2,578.1
2,714.98
2,960.93
2,960.93
Basic Weighted Avg Shares
20
24
27
27
25
27
27
26
27
27
26
26
26
26
Sales/Revenue/Turnover
12,847
13,138
14,013
12,824
18,083
19,745
21,699
23,705
29,614
33,247
31,302
32,889
35,517
35,517
Operating Margin (%)
32
31.82
30.72
15.68
22.55
25.35
22.06
19.97
22.48
15.57
14.43
13.38
16.26
16.26
Depreciation Expense
67
79
316
332
459
377
598
622
584
445
743
982
954
954
Net Income, GAAP
4,145
5,080
4,263
2,078
6,324
1,882
5,125
4,252
6,576
5,244
4,734
4,551
7,402
7,402
Effective Tax Rate (%)
9.41
- -
12.36
4.26
13.84
6.82
9.46
5.56
10.71
8.54
3.86
- -
- -
- -
Profit Margin (%)
32.26
38.66
30.42
16.21
34.97
9.53
23.62
17.94
22.21
15.77
15.12
13.84
20.84
20.84
Working Capital
18,183
33,086
34,922
13,108
12,685
18,822
18,930
22,085
21,970
22,829
25,297
26,093
30,596
30,596
LT Debt
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Total Equity
23,582
40,033
41,866
43,296
49,078
50,249
54,433
60,396
66,327
70,691
74,132
75,173
81,020
81,020
Return on Invested Capital (%)
- -
- -
9.2
4.55
7.66
9.38
8.28
7.84
9.42
6.91
6.02
- -
- -
- -
Return on Capital (%)
- -
- -
10.44
4.91
13.71
3.78
9.79
7.4
10.4
7.7
6.56
- -
- -
- -
Return on Common Equity (%)
- -
15.97
10.41
4.88
13.69
3.79
9.79
7.41
10.39
7.66
6.54
6.1
9.48
9.48

Capital Structure

KRW

•

in mil. unless spec.
Dec'26
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
26
26
26
Market Capitalization
55,350
50,497
45,749

Working Capital

KRW

•

in mil. unless spec.
Dec'26
Mar'26
Jun'26
Total Current Assets
33,362
34,661
35,213
Cash, Cash Equivalents & STI
28,038
30,323
29,111
Accounts Receivable, Net
3,419
2,173
3,827
Inventories
170
81
246
Total Current Liabilities
5,017
3,023
4,616
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.89%
6.09%
7.78%
Free Cash Flow
-76.94%
28.8%
18.18%
Net Income, GAAP
32.15%
16.69%
62.67%
Sales/Revenue/Turnover
10.53%
8.88%
7.99%
Total Cash Common Dividend
8.58%
13%
-3.25%

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7,215
11,044
5,877
7,166
31,302
2025
9,410
10,626
5,750
7,102
32,889
2026
7,548
12,610
6,036
9,323
35,517

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
47
132
-10
11.3
179
2025
22
175
-19
0.45
178
2026
12.31
181.8
57.93
36.62
290.23

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
34.44
2025
- -
- -
- -
- -
53.3
2026
51.53
- -
- -
- -
51.69

Company Description

Full Time Employees
192
Sector
Technology services
Industry
Packaged software
Address
Seoul South Korea
IPO Date
Feb 11, 2015
Website
forcs.com
Business
FORCS Co., Ltd. is a South Korea-based enterprise software company primarily engaged in the development and provision of electronic document, business reporting, and digital signature solutions. Founded in 1995 and headquartered in Seoul, South Korea, the company delivers digital transformation technologies that eliminate paper-based processes and streamline workflow automation for financial, corporate, and public sector organizations. FORCS operates across domestic and international markets, supported by overseas subsidiaries including FORCS Singapore Pte. Ltd. and FORCS Japan Co., Ltd. The company categorizes its business operations into enterprise software licensing, cloud subscription services, system integration, and software maintenance. The core product portfolio comprises OZ Report, an enterprise reporting tool designed for multi-platform data presentation, interactive report generation, and business analytics visualization; OZ e-Form, a paperless electronic document system that enables digital application form creation, secure mobile electronic signature capture, and backend workflow integration; and eformsign, a cloud-native Software-as-a-Service (SaaS) electronic signature and contract management platform enabling businesses to create, execute, and archive legally valid digital agreements without on-premises infrastructure. Additionally, FORCS offers mobile enterprise solutions, electronic document security modules, and specialized consulting and technical support services tailored to commercial banks, insurance providers, securities firms, government agencies, hospitals, and manufacturing enterprises. In recent strategic developments, FORCS has expanded its cloud business by scaling the adoption of its eformsign SaaS platform across small, medium, and large enterprises, while accelerating market penetration in Japan and Southeast Asia through regional channel partner alliances. The company has also integrated artificial intelligence (AI) and optical character recognition (OCR) capabilities into its document processing solutions to facilitate automated data extraction, intelligent form completion, and identity authentication. Furthermore, FORCS has formed strategic integrations with major cloud infrastructure and collaboration platform providers to embed its e-signature solutions directly into enterprise communication environments, alongside updates to its platform architecture to ensure compliance with global electronic signature regulations and data privacy standards.