Stock

T&R Biofab Co.

246710.KQ
29
Medical - Specialties · Healthcare
Price
₩2065.00
-135.00 (-6.14%)
Market Cap
₩98.43B
Exchange
KOSDAQ
Winston Score
29
Winston is worried
Below-average fundamentals — multiple weak pillars.
Data as of Oct 12, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
4/30
Growth
Good
12/20
Cash Flow
Weak
0/10
Stability
Weak
2/10
Valuation
Data not available
0/10
Ownership
Good
10/15
Dividends
Not counted
n/a

28 of 95 counted points = Winston Score 29. Pillars marked n/a do not apply to this company and are left out of the total.

Share count rising — dilution

+144.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 18.7M (2021) → 45.9M (2025)

§Winston Score History

The full picture

T&R Biofab is a South Korean company that works in the field of bioprinting and regenerative medicine. It develops technology to print living tissue and organs using biological materials, sometimes called "bioinks." Its main customers include hospitals, research institutions, and pharmaceutical companies that need tissue models for medical research and drug testing.

The company earns revenue by selling bioprinting equipment, bioink materials, and related research services. It operates primarily in South Korea but aims to expand into global medical and research markets. With a market capitalization of roughly $64.6 billion, it is a notable player in the emerging bioprinting space, though its negative operating margin shows it is still spending heavily to develop and commercialize its technology. The key growth driver is the long-term potential for printed tissues and organs to replace animal testing and, eventually, address organ shortages — but the main risk is that this science remains largely experimental, meaning commercial scale and regulatory approval could take many years.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+45.9% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+60.1% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

₩8.0B/ year

↑ Rising (+46% vs prior year)

29.7% of revenue

1.7x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

15.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 years

₩19.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

₩19.5B cash & investments at current burn rate

Strong grower

T&R Biofab Co. is growing revenue at 46% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Profit per sale
Gross Margin
29.3%
Modest — 29.3% gross margin
Profit after running costs
Operating Margin
-8.3%
Losing money on operations — -8.3%
Return on the money invested
ROCE
-11.0%
Weak — -11.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+120.9%
Fast-growing sales (+120.9% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-14.5%
Burning cash (-14.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
1.43
Elevated debt (1.43)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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