기가 기가비스 Loading... : Bullish and Bearish Analyst Opinions

Gigavis is Korea's leading substrate inspection equipment maker with world-class 3µm line-space capability, ahead of KLA. The ABF substrate expansion cycle is different this time: driven by customer-funded capex and increasing substrate complexity, leading to both higher unit demand and ASP. The company is expanding capacity with a new factory from July, lifting maximum revenue capacity to 250 billion won. Earnings are set to surge: 2027E revenue 160 billion won, OP 660 billion (40% margin); 2028E OP ~800 billion. With a market cap of 1.65 trillion won, it trades at 23.4x 2028E earnings. The cycle typically lasts 2–3 years, and key clients like Ibiden and Samsung Electro-Mechanics are expanding aggressively, providing mid-term visibility.