NAU IB Capital나우IB

NAU IB Capital's H1 2026 profit is still positive, but its shares have fallen sharply over the past year and recent filings point to a capital reduction.

NAU IB Capital is a Korean venture capital firm on KOSDAQ that invests in early-stage technology companies through partnerships it manages. On trailing twelve-month figures to H1 2026 it reported revenue of about ₩32.4B, operating income of ₩6.5B and net income of ₩5.1B, though revenue and profit have fallen from the 2024 peak. At ₩1,145 the shares are well below their 52-week high of ₩3,350.

What stands out

• Trailing operating margin is 20.2%, down from 28.7% in 2024 and 25.0% in 2025, while annual revenue fell 7.2% in 2025.
• Trailing ROE is 4.9% and the year-end 2025 P/B was 1.4, while the current P/B is about 1.0 and P/E about 21.5.
• The company's own fair value model gives a base of ₩483, a bear case of ₩168 and a bull case of ₩892; these are model outputs, not forecasts.
• Foreign ownership is 2.1% and unchanged over 60 days, and 20-day flows show net selling by foreign and retail investors with institutions net buying.
• Filings in September 2026 include a capital reduction decision, an amendment to it, a trading halt and a shareholders' meeting notice.

What to watch

• Details and timing of the capital reduction and the shareholders' meeting, including any effect on the share count or dividend.
• The next quarterly or annual results, to see whether margins and revenue recover from the 2025 decline.
• Trading conditions around the 52-week range, given the 1-year return of -3.2% and 3-month return of -11.3%; the data includes no news headlines to explain the moves.