IT'S Hanbul잇츠한불

IT'S Hanbul's profits have recovered strongly from 2021-2022 losses, but the shares sit well below their 52-week high.

Trailing results to H1 2026 show revenue of ₩172B and operating income of ₩23.9B, with a 13.9% operating margin and a 19.4% net margin. The balance sheet looks lightly indebted, with liabilities at 5.9% of equity and no borrowings reported, and cash of ₩43.5B. The share price of ₩10,770 is roughly 24% below its 52-week high of ₩14,200.

What stands out

• Annual revenue grew from ₩130.7B in 2022 to ₩153.4B in 2025, and operating income rose from ₩4.8B to ₩19.2B over the same period.
• Net income for the trailing period (₩33.3B) is well above operating income, and the data does not explain the reason for the gap.
• Valuation is modest on the data shown: P/E of 7.1, P/B of 0.6 and a 2.6% dividend yield, while the DCF base value is ₩6,090, below the current price.
• ROE is 8.5% on a trailing basis, up from 4.3% at 2025 year-end, though still low in absolute terms.
• Recent filings include a half-year report, an amended annual report for December 2025, and a corporate value-up plan published in March 2026.

What to watch

• The next quarterly or annual results, and whether operating margins hold near the trailing 13.9% level.
• The reason for the amended annual report filed in August 2026, which the data does not explain.
• Foreign ownership, short balance and investor flow figures are not available in the data, so their trend cannot be assessed.