Stic Investments스틱인베스트먼트

Stic Investments remains very profitable on a trailing basis, but its share price has fallen 21% over the past year and a new large shareholder has emerged.

Stic Investments is a Korean private equity manager that earns fund management and investment income. Its trailing twelve-month results to H1 2026 show revenue of ₩85.0B, operating income of ₩25.8B and net income of ₩21.5B, though 2025 revenue and profit were lower than 2023. The shares closed at ₩7,680 on 23 October 2026, well below the 52-week high of ₩13,390.

What stands out

• Trailing operating margin is 30.4% and net margin is 25.3%, but annual operating margin fell from 35.3% in 2023 to 18.8% in 2025.
• Trailing free cash flow is negative at about ₩-70.2B, and the data does not explain the cause.
• Valuation metrics are low: P/E of 13.9, P/B of 1.1, and no dividend yield, while the fair value model gives a base value of ₩4,327 that is below the current price.
• Foreign ownership fell from 48.5% to 43.1% over 60 days, while institutions were net buyers over the last 20 days.
• Filings include a 5%+ holding report, buyback trust contract, and a major management matter; a news report says Meri Capital has become the largest shareholder.

What to watch

• Details of the Meri Capital stake change and any effect on management or strategy, as the data only gives a headline.
• The outcome of the trust-agreement share acquisition status report and the buyback arrangement signed in July 2026.
• Full-year 2026 results and whether free cash flow and margins recover from their trailing levels.