Itcencts아이티센씨티에스

Itcencts shows strong trailing profit and a very low valuation, but the share price has fallen over the past year and cash flow is negative.

Itcencts, a Korean IT services firm that builds and runs AI infrastructure, reported trailing twelve-month revenue of ₩1.14T and net income of ₩82.8B to H1 2026, with an operating margin of 3.6%. Its shares closed at ₩5,380 on 2026-10-16, giving a market value of about ₩65.1B, and the price is down 9% over one year. The data includes no analyst ratings or forecasts, so the outlook beyond the filings is unclear.

What stands out

• Trailing net income of ₩82.8B is well above operating income of ₩40.7B, so non-operating or one-off items likely contributed; the data does not break this down.
• Revenue grew 10% in 2025 to ₩1.10T, and operating margin remained thin at 2.2%.
• Trailing free cash flow was negative at about -₩12.8B, despite the profit figures.
• Liabilities are 103.7% of equity, and cash of ₩77.7B exceeds reported borrowings of ₩2.5B.
• Recent news covers a data center operations partnership with Lotte Innovate, and filings show several guarantees of debt for other parties and a convertible bond decision.

What to watch

• Upcoming quarterly or annual results, and whether margins and cash flow improve.
• Details of the debt guarantees and convertible bond issue, which could affect dilution and financial risk.
• Foreign ownership, which fell from 2.3% to 1.8% over the past 60 days, and the wide gap between the stock price and the DCF base value of ₩25,572.