BTS to Return as Full Group on March 20, HYBE’s Operating Profit Surges by 1,117%

BTS will return as a full group on March 20 with their ARIRANG album, concluding their approximately two-year military service. Their agency, HYBE, expects to enter a period of unprecedented performance growth following this return.

Park, a researcher at SK Securities, stated that “2026 will be the year of HYBE’s full-group activities and substantial performance growth.” He projected that HYBE’s consolidated revenue for 2026 will reach 4.65 trillion won, representing a 75.5% increase from the previous year. Operating profit for the same period is expected to reach 607.3 billion won, with an operating profit margin of 13.1%, marking a 1,117.4% increase compared to the prior year.

Park also set a target price of 480,000 won, which is calculated by applying BTS’s average price-earnings ratio of 47.4 times during their active period to an estimated earnings per share of 10,165 won for 2026. This target price is the highest among securities analysts.

The sales volume of the comeback album is also noteworthy. Pre-orders have already reached approximately 4 million copies, and the industry estimates that total sales, including additional units after official release, will range from 5 to 6 million copies, generating revenue of around 90 billion won.

Along with their return, BTS will embark on an 82-concert stadium-scale world tour. Designed with a 360-degree open stage layout to maximize profitability per concert, the tour is expected to generate revenue of over 400 billion won per quarter.

The return of this global super IP, combined with the growth of new talent pipelines, is strengthening HYBE’s portfolio. During BTS’s hiatus, older groups such as SEVENTEEN, TOMORROW X TOGETHER, and ENHYPEN maintained strong performance.

The accumulated demand from BTS’s global fanbase over their two-year military service is evident in the 4 million pre-orders for the comeback album and the schedule of 82 world tours.