ECSTELECOMCo이씨에스

ECS Telecom's trailing profit is thin and its latest twelve months show a small net profit after an operating loss, with revenue down sharply from its 2023 peak.

ECS Telecom provides enterprise communication and contact center solutions in South Korea. Revenue fell about 20% in 2025 to ₩73.3B and the company posted an operating loss of ₩2.7B, though the trailing twelve months to Q1 2026 show revenue of ₩75.4B, a small operating loss of ₩1.1B and net income of ₩2.0B. The company has no borrowings and holds ₩1.6B in cash.

What stands out

• Revenue has declined from ₩100.6B in 2023 to ₩73.3B in 2025, and operating margin has moved from 4.2% to -3.7% over the same period.
• Trailing net income of ₩2.0B is positive while operating income is negative, so non-operating items account for much of the reported profit; the data does not explain their source.
• The company reports no borrowings, and liabilities are 45.2% of equity.
• The shares closed at ₩2,620 on 2026-10-19, near the 52-week high of ₩2,625, with a 3-month return of 19.4%.
• Filings in 2026 include a corporate value-up plan, a buyback trust contract signed in August, and guidance on the fiscal 2026 shareholder return policy; the data does not give the terms of the buyback or the amount of the dividend.

What to watch

• Next quarterly results, to see whether the operating loss in the trailing figures continues or reverses.
• Details of the buyback trust contract and the fiscal 2026 shareholder return policy, which the data does not specify.
• The fair value model gives a base of ₩4,473 and a bear case of ₩2,092, both of which are model outputs rather than forecasts; the data includes no analyst ratings or price targets.