Kortek코텍

Kortek's trailing profits have risen sharply, but the shares have fallen over the past month and three months.

Kortek makes industrial monitors for slot machines and for medical, aerospace and defense customers, mostly exporting. For the twelve months to H1 2026 it reported revenue of ₩465B, operating income of ₩52B and net income of ₩49B, well above its 2023 and 2024 results. The stock closed at ₩10,190 on 15 October 2026, about 17.6% lower over three months but 17% higher over one year.

What stands out

• Trailing operating margin is 11.2% and net margin 10.6%, compared with 9.5% and 7.6% in 2025 and 2024 on a full-year basis.
• 2025 revenue grew 28.8% to ₩397B after a 5.8% decline in 2024, and net income rose to ₩28B from ₩27B only modestly while operating income reached ₩38B.
• Balance sheet figures look conservative: liabilities are 22.1% of equity, cash is ₩87B against borrowings of ₩20B, and trailing free cash flow is ₩27B.
• Valuation metrics are low: P/E 3.7, P/B 0.5, dividend yield 2.9%, with a DCF base value of ₩5,369 and a bull value of ₩15,071 per the company's model, which is far below the current price in the base case.
• Recent filings include a half-year report and preliminary earnings for H1 2026, plus several 5%+ holding reports and insider shareholding reports; the data contains no news headlines to explain them.

What to watch

• Next quarterly and half-year results, to see whether margins hold after the strong trailing period.
• Further 5%+ holding and insider shareholding reports, which may indicate changes in major shareholders.
• Customer concentration in gaming and export demand, as the data does not give a breakdown by customer or region beyond the named examples; foreign ownership and short-selling data are not available.