RaonSecure라온시큐어

RaonSecure's share price has more than doubled over three months on security-theme news, while trailing profit remains thin at about ₩4.5B.

RaonSecure is a small Korean IT security and authentication company with trailing six-month revenue of about ₩60.6B, operating income of ₩3.9B and no borrowings. The shares closed at ₩17,890 on 27 October 2026, up 141.8% over three months, and trade at 44.6 times earnings and 3.8 times book value. The company's own discounted cash flow model gives a base value of ₩2,039, far below the current price, and the data does not explain that gap.

What stands out

• Trailing operating margin is 6.4% and net margin 7.4%, but 2025 operating margin was 4.4% and 2023 was negative, so profitability has been uneven.
• Net income has been higher than operating income in recent periods, which suggests non-operating items; the data does not break these down.
• Recent headlines link the rally to a financial-information leak and PHP hacking fears, with expectations of more security spending; the company also announced AI product confirmation and a physical AI security network in mid-October.
• Over the last 20 days retail investors were net sellers of about ₩6.5B while foreign investors bought about ₩5.9B; foreign ownership rose from 2.7% to 3.8% over 60 days.
• The company pays no dividend and its profile places it in the software sector with zero-trust, biometric authentication and digital ID products.

What to watch

• Third-quarter results, which are not yet in the data, will show whether the higher share price is matched by revenue and margin growth.
• Whether the rally holds given the 52-week range of ₩6,320 to ₩22,450 and the news-driven nature of recent moves.
• Follow-up filings on the own-share buyback trust, which was terminated in August 2026.