Itcenglobal아이티센글로벌

Itcenglobal's revenue has grown fast over two years, but thin margins and a high debt-to-equity ratio keep the profit picture fragile.

Itcenglobal is a Korean IT services company listed on KOSDAQ, with trailing revenue of about ₩11.5T to H1 2026 and a market value near ₩498B at ₩21,450 per share. Revenue rose sharply in 2024 and 2025, and operating margin has stayed low at about 3%. The share price is down 27.7% over one month, though it is up 10.9% over three months and 14.8% over one year. The company profile is not included in the data.

What stands out

• Revenue reached ₩8.87T in 2025 after 78.8% growth, but net income was ₩46.6B, so most of the revenue did not reach the bottom line.
• Trailing operating margin is 2.9% and net margin is 0.6%, which are thin for an IT services business.
• Liabilities are 145.5% of equity, and the data shows no borrowings figure, so the debt structure is not fully clear.
• Trailing free cash flow is about ₩75.7B and cash is about ₩167B, against a trailing operating income of about ₩332B.
• Filings show repeated amendments to decisions on debt guarantees to third parties, and the chairman plans to buy treasury shares worth ₩140M, as reported by Chosun Biz.
• Foreign ownership fell from 6.9% to 5.3% over 60 days, while foreign investors were net buyers over the last 20 days.

What to watch

• Next half-year or annual results, to see whether revenue growth turns into higher operating and net margins.
• Further amendments or new filings on third-party debt guarantees, which the data flags as a recurring item.
• Price volatility: the 52-week range is ₩17,000 to ₩75,500, and the one-month return is -27.7%. The data includes a DCF fair value estimate, but its base, bear and bull figures vary widely and should be read with caution.