JLS정상제이엘에스

JLS remains profitable with steady sales, but its margins have narrowed from their 2021–2023 peak and the share price has drifted lower over the past year.

JLS, a Korean private English education company, reported trailing twelve-month revenue of ₩102.4B and operating income of ₩10.1B through H1 2026, a 9.9% operating margin. Revenue has been roughly flat to slightly down since 2021, while operating income is well below its 2021–2022 levels. The shares closed at ₩5,730 on 2026-10-23, with a market capitalisation of about ₩89.8B.

What stands out

• Trailing net income of ₩7.4B gives a 7.2% net margin and an 8.7% return on equity, compared with 16.5% to 18.9% in 2021–2023.
• Annual operating margin fell from 16.7% in 2021 to 9.5% in 2025, and revenue declined 2.6% in 2025 and 6.6% in 2024.
• Trailing free cash flow is reported at ₩13.0B, against cash of ₩3.2B and borrowings of ₩3.65B; liabilities are 29% of equity.
• The valuation metrics show a P/E of 12.1, P/B of 1.0 and a dividend yield of 9.2%, while the company's internal DCF base value is ₩10,555, above the current price. This is a model output, not a forecast.
• Peers in the data trade at lower P/E ratios, ranging from 4.8 to 8.7, and the stock sits 16% above its 52-week low of ₩5,530 and 16% below its high of ₩6,850.

What to watch

• The amended half-year report (filed 2026-09-29) and any further filing changes; the data does not explain what was amended.
• Whether the 2026 full-year results show margins stabilising near the current 9–10% level or falling further.
• Foreign ownership fell from 4.8% to 4.4% over 60 days and foreign investors were net sellers over the past 20 days; the data gives no news explaining this.