Korea Electronic Certification Authority한국전자인증

Korea Electronic Certification Authority is profitable on a trailing basis, but its shares have fallen sharply over the past year.

The company runs certificate services for individuals, businesses and government-linked transactions, plus SSL, electronic signature and authentication products. On trailing figures to H1 2026 it reports revenue of ₩39.4B, operating income of ₩7.6B and net income of ₩5.7B, with cash of ₩15.8B and no borrowings listed. Shares closed at ₩3,225 on 2026-10-16, down 16.2% over one year and near the lower half of their 52-week range.

What stands out

• Trailing operating margin is 19.2% versus 12.7% in 2024 and 18.3% in 2025, though revenue has been roughly flat to slightly down in recent years.
• Trailing P/E is 10.4 and P/B is 0.9, with a 3% dividend yield; the company's own DCF base value is ₩5,422, which the filings-based model shows as above the current price, but this is a model output, not a forecast.
• Foreign ownership fell from 3.7% to 3.1% over about 60 days, and foreign investors were net sellers over the last 20 days while institutions were net buyers.
• Recent filings include a buyback trust contract, a share cancellation decision, a corporate value-up plan and a CEO change, all in 2026.
• The profile mentions planned overseas expansion through a partnership with WISeKey; the data gives no figures on its size or timing.

What to watch

• The next quarterly or half-year results, and whether revenue growth returns after several years of declines.
• Progress on the share buyback and the status report on the trust acquisition, plus any further filings on the share cancellation.
• Developments in the WISeKey overseas partnership, since the data contains no details on it; no news headlines were available in the data.