IDP아이디피

IDP's trailing profits have fallen from their 2024 peak, though the stock trades at a low multiple of earnings and book value.

IDP makes desktop card printers and consumables, with about 75% of sales exported. Over the trailing twelve months to H1 2026 it reported revenue of ₩46.8B, operating income of ₩8.3B and net income of ₩9.7B, below its 2024 and 2025 levels on operating profit. The share price closed at ₩5,130 on 2026-10-22, within its 52-week range of ₩4,380 to ₩5,740.

What stands out

• Operating margin on a trailing basis is 17.8%, down from 22.2% in 2025 and 23.8% in 2024.
• Net income in the trailing period (₩9.7B) is above operating income, which the data does not explain.
• Revenue grew 5.5% in 2025 after 27.9% in 2024, and 2023 revenue fell 15.6%.
• Balance sheet looks light: liabilities are 8.5% of equity, cash is ₩9.7B and borrowings are ₩0.7B.
• Valuation metrics are low (P/E 7.0, P/B 0.9, dividend yield 3.3%), and the model's base-case fair value is ₩12,067, though the data gives no basis for judging that model.

What to watch

• Next quarterly and half-year filings, to see whether operating margin keeps falling from 2025 levels.
• Foreign ownership fell from 0.9% to 0.7% over 60 days, and foreign and retail investors were net sellers over the last 20 days.
• Recent filings are mostly 5%+ holding and insider shareholding reports; the data names no specific risks and includes no news headlines.