NH Investment & SecuritiesNH투자증권

NH Investment & Securities is trading well below its 52-week high, with trailing profits up sharply but the share price down about 20% over three months.

The company is a Korean brokerage and investment bank with trailing-twelve-month operating income of ₩2.13T and net income of ₩1.53T as of H1 2026, both well above the 2023 level. At ₩23,300 the shares trade at about 5.6 times earnings and 0.8 times book, and the data shows a 5.6% dividend yield. Its balance sheet is heavily leveraged, with liabilities at about 955% of equity and borrowings of ₩8.15T against cash of ₩3.68T.

What stands out

• Net income rose from ₩556B in 2023 to ₩1.03T in 2025, and ROE improved from 7.3% to 11.8% over the same period.
• A filing-reported preliminary Q3 result shows operating profit of ₩521.1B, up 33.2% year on year, according to Yonhap News Agency.
• Free cash flow over the trailing period was negative at about -₩6.62T, and revenue is not reported in the data, so margins cannot be calculated.
• The fair value model in the data gives a base value of ₩26,893, a bear value of ₩17,254 and a bull value of ₩39,455; these are model outputs, not forecasts.
• Over 20 days, institutions were net buyers of about ₩39.6B while foreign and retail investors were net sellers, and foreign ownership was roughly flat at 13.1%.

What to watch

• Full Q3 and preliminary earnings details, and whether profit growth holds given the sharp share price fall over the last three months.
• Recent filings on equity-linked securities, shelf registrations and a change in the largest shareholder's holdings, which may matter for share supply and governance.
• Leverage and negative free cash flow, which the data flags as the main financial risk to monitor alongside the wide gap between the current price and the 52-week high of ₩42,600.