NICE Information & Telecommunication나이스정보통신

NICE Information & Telecommunication is a profitable payments operator whose shares have risen sharply over the past year, while its balance sheet carries heavy liabilities.

The company runs card payment relay (VAN), online payment gateway and tax refund services in Korea. Trailing results to H1 2026 show revenue of about ₩1.17T, operating income of ₩66.2B and net income of ₩57.4B, with revenue growing each year since 2023. Its latest filing is an acquisition of shares in affiliate NICE Property worth ₩60.2B.

What stands out

• Revenue rose from about ₩670B in 2021 to about ₩1.09T in 2025, although operating margin fell from 7% to 5.1% over the same period.
• Trailing operating margin is 5.6% and net margin is 4.9%, with return on equity at 14.9%.
• Liabilities are 179.2% of equity, and the data shows cash of about ₩222B against borrowings of ₩25.1B.
• The share price is ₩7,490, up 66.5% over one year, and sits below its 52-week high of ₩8,750.
• Valuation metrics are low (P/E 5.9, P/B 0.8), and the data gives a DCF base fair value of ₩30,649, a bear case of ₩17,594 and a bull case of ₩52,850; these are model outputs, not forecasts.
• Foreign ownership rose from 27.1% to 28.7% over 60 days, while retail investors were net sellers of about ₩3.1B over 20 days.

What to watch

• The next half-year and annual results, and whether margins recover from the 2025 level.
• Follow-up filings on the ₩60.2B share acquisition in NICE Property and the trust-agreement share acquisition status report, plus the shareholder meeting and record date notices from October 2026.
• The high liability-to-equity ratio and the data's note on dividend yield of 14.7%, which should be checked against the company's own dividend filings.