n Tels엔텔스

n Tels has swung back to a small profit on higher revenue, but its shares have fallen sharply over the past year.

Ntels is a Korean software firm selling business platforms to telecom and broadcasting operators. Trailing twelve-month revenue to H1 2026 was about ₩71.5B with a small operating profit of ₩1.4B and net income of ₩2.8B. The share price is ₩2,020, down 59.4% over one year, and the company's market value is about ₩20.7B.

What stands out

• Revenue rose 39.4% in 2025 to ₩66.8B after a weak 2023 and 2024 that included operating losses.
• Operating margin is thin at about 2% on a trailing basis, compared with 3.2% in 2025 and losses in 2022 to 2024.
• The balance sheet shows cash of ₩8.4B against borrowings of ₩4.3B, with liabilities at 36.9% of equity.
• The company's own filings show a 2026 decision on acquiring equity securities of other corporations, which the data does not explain in detail.
• The company pays no dividend, and the data shows a DCF-based fair value model with a base of ₩1,635, a bear of ₩369 and a bull of ₩4,286; these are model outputs, not forecasts.

What to watch

• The full-year 2026 results and whether margins hold above the trailing level.
• Details of the equity acquisition and any related filings, which the data does not describe.
• Foreign ownership fell from 2.7% to 2.2% over 60 days and foreign investors were net sellers over the last 20 days, so further outflows would be worth noting.