Interojo인터로조

Interojo is profitable again on a trailing basis after a weak 2024, but its shares are down 12.5% over the past year.

Interojo, a Korean contact lens maker, reported trailing revenue of ₩124.1B... wait, correcting units: trailing revenue of ₩124.1B is not right; the data gives ₩124.14B-scale figures as won, so trailing revenue is ₩124.1B and net income ₩17.8B for the period to H1 2026. Its Clalen brand leads domestic sales, with overseas sales mainly OEM/ODM, and shares trade near ₩15,050, well below the 52-week high of ₩23,100.

What stands out

• Trailing operating margin is 18.7% and net margin 14.3%, below the 2021 to 2022 peak of about 21% and 20.5% operating margin but well above 2024's 5%.
• 2024 net income was only about ₩0.18B, while 2025 net income recovered to about ₩12.9B on revenue of ₩118.4B.
• Trailing free cash flow is about ₩14.5B and cash about ₩11.2B; the data shows no borrowings.
• Valuation metrics show a P/E of 9.6 and P/B of 1.1, with a 4.3% dividend yield, below most listed peers in the data.
• Foreign ownership fell from 5.9% to 3.4% over about 60 days, and foreign investors were net sellers over the last 20 days.

What to watch

• Half-year 2026 report details and the consolidated results already flagged in the August filings.
• The two amended filings on changes to the largest shareholder, which the data does not explain.
• The DCF fair value range in the data is ₩17,845 to ₩38,680 with a base of ₩25,638; this is a model output, not a forecast, and the data contains no analyst targets.