Kinx케이아이엔엑스

Kinx is a profitable Korean internet infrastructure provider whose margins have eased since 2022 while the share price has pulled back over the past month.

Kinx runs data centers, an internet exchange, CDN and cloud services for businesses, with a subsidiary that distributes Microsoft software licenses. On trailing twelve-month figures to H1 2026 it reported revenue of ₩165.7B, operating income of ₩30.8B and net income of ₩24.1B, with a 0.5% dividend yield. The shares closed at ₩127,000 on 15 October 2026, down 9.7% over one month but up 32% over one year.

What stands out

• Revenue has grown each year since 2021, reaching ₩159.2B in 2025 with 14.6% growth, while operating margin fell from 23.4% in 2021 to 15% in 2025.
• Trailing net income of ₩24.1B is above 2025's ₩17.1B, and trailing net margin is 14.6%.
• Liabilities to equity is 36.8%, with cash of ₩30.0B against borrowings of ₩46.9B, and trailing free cash flow is ₩50.6B.
• Valuation has moved around: P/E is 25.7 now versus 34.6 at the end of 2025, and the model's base-case fair value of ₩95,720 sits below the current price.
• Recent filings include preliminary and half-year earnings for 2026 and an outlook on business performance, but the news feed had no headlines for the period.

What to watch

• The next quarterly or half-year results, to see whether operating margin recovers from the 2025 level.
• Insider shareholding and 5%+ holding reports, which have appeared frequently since May 2026.
• Foreign ownership and short-selling data are not available in the data provided, so investor flow trends cannot be assessed.