GemVax&KAEL Ratios and Metrics

Market cap in millions KRW. Fiscal year is January - December.

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 9, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	1,186,719	1,228,618	587,263	523,463	465,482	694,507
Market Cap Growth	-23.90%	109.21%	12.19%	12.46%	-32.98%	-26.38%
Enterprise Value	1,224,835	1,279,297	612,303	514,356	454,070	675,698
Last Close Price	27050.00	29000.00	14800.00	13280.00	11850.00	17500.00
PE Ratio	-	-	-	-	-	57.60
PS Ratio	14.56	15.07	9.37	7.25	6.14	11.50
PB Ratio	20.74	21.47	20.25	4.85	3.47	4.51
P/TBV Ratio	22.03	22.81	22.83	5.08	3.54	4.59
P/FCF Ratio	10662.35	11038.79	-	-	-	-
P/OCF Ratio	1070.58	1108.37	-	146.81	-	-
EV/Sales Ratio	15.02	15.69	9.77	7.12	5.99	11.19
EV/EBITDA Ratio	-	157.91	-	-	-	-
EV/EBIT Ratio	-	337.32	-	-	-	-
EV/FCF Ratio	11004.80	11494.13	-	-	-	-
Debt / Equity Ratio	1.06	1.06	2.55	0.14	0.06	0.05
Debt / EBITDA Ratio	7.52	7.52	-	-	-	-
Debt / FCF Ratio	547.11	547.11	-	-	-	-
Net Debt / Equity Ratio	0.67	0.67	2.30	-0.06	-0.26	-0.18
Net Debt / EBITDA Ratio	4.71	4.71	-1.96	1.59	39.72	201.41
Net Debt / FCF Ratio	342.46	342.46	-2.09	1.26	2.94	2.64
Asset Turnover	0.53	0.53	0.44	0.50	0.47	0.37
Inventory Turnover	6.51	6.51	6.93	5.25	5.90	6.45
Quick Ratio	0.45	0.45	0.25	0.99	2.97	2.63
Current Ratio	0.66	0.66	0.36	1.30	3.80	3.26
Return on Equity (ROE)	-26.29%	-26.29%	-127.30%	-22.43%	-13.60%	8.34%
Return on Assets (ROA)	1.53%	1.53%	-16.76%	-3.44%	-1.52%	-0.92%
Return on Capital Employed (ROCE)	4.10%	4.10%	-47.60%	-7.20%	-2.90%	-1.60%
Earnings Yield	-0.96%	-0.92%	-14.85%	-5.19%	-4.21%	1.74%
FCF Yield	0.01%	0.01%	-5.42%	-0.94%	-2.59%	-1.49%
Buyback Yield / Dilution	-4.08%	-4.08%	-0.66%	0.17%	8.46%	-9.88%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.