Chips&Media칩스앤미디어

Chips&Media is a profitable chip-design IP licensor whose shares have fallen about 30% over the past year, though the stock is well above its 52-week low.

Chips&Media licenses video chip technology to semiconductor makers and earns royalties on their chip sales. Trailing results to H1 2026 show revenue of about ₩29.4B... more precisely ₩29.4B is wrong in scale: trailing revenue is ₩29.4B only if read literally, so the data gives revenue of ₩29.36B-equivalent in won terms; the company reported a trailing operating margin of 22.8% and net margin of 24.9%, with the share price at ₩11,370 and a market value of about ₩242.8B.

What stands out

• Trailing twelve-month revenue is about ₩29.4B with operating income of about ₩6.7B and net income of about ₩7.3B, so profitability is strong on paper.
• Revenue rose 5.1% in 2025 but was down 2% in 2024, and 2023 net income was a loss of about ₩26.7B, so results have been uneven.
• The price is down 30.1% over one year but up 14.3% over three months, and sits between a 52-week low of ₩7,740 and high of ₩21,150.
• The DCF fair value model gives a base of ₩7,033 (bear ₩5,692, bull ₩9,114), which is below the current price; this is a model output, not a forecast.
• Valuation is high relative to peers at a P/E of 33.3 and P/B of 2.8, while the balance sheet carries borrowings of about ₩9.4B against cash of about ₩11.9B.

What to watch

• Half-year and quarterly results and the next preliminary earnings release, which the filings show follow a regular pattern.
• Share buyback and cancellation steps, including the buyback trust contract and the amended acquisition of shares in another company filed in October 2026.
• Foreign ownership is only 1.8% and 20-day flows show retail and foreign net selling, while the data includes no recent news headlines to explain the trend.