Nine & Company나인앤컴퍼니

Nine & shares trade near the bottom of their 52-week range as revenue and operating profit have shrunk since 2022.

On trailing twelve-month figures to H1 2026, the company had revenue of ₩45.2B and operating income of ₩5.9B, with a market capitalisation of about ₩93.3B and a share price of ₩4,120. Revenue has fallen in each year from 2023 to 2025, and the share price is down 15.5% over one year. The data does not explain the gap between operating income and the much larger net income.

What stands out

• Operating income has fallen from ₩12.7B in 2022 to ₩6.8B in 2025, and the operating margin has narrowed from 21.6% to 15.1% over the same period.
• TTM net income of ₩16.8B is well above TTM operating income of ₩5.9B, but the filings data does not say what drove the difference.
• TTM free cash flow was negative at about ₩-0.3B, even though cash of ₩16.9B exceeds borrowings of ₩1.7B.
• Valuation metrics are low: P/E of 5.6, P/B of 1.0, and a dividend yield of 1.9%. The DCF model gives a base value of ₩4,562, with a range of ₩3,359 to ₩6,554.
• Foreign ownership rose from 0.4% to 0.8% over the last 60 days, while retail investors were net sellers over the last 20 days.

What to watch

• Several filings in 2026 concern a change of largest shareholder, and an amended version was filed on 2026-10-19. The details are not in the data.
• A loan provision decision was amended on 2026-10-15, and the data does not describe its terms.
• The data contains no news headlines and no next earnings date, so upcoming results cannot be assessed from this pack.