kakaopay카카오페이

kakaopay's profits have swung back to positive on a trailing basis, but the share price has fallen sharply over the past year and trading volumes are shrinking.

kakaopay (377300) reports trailing twelve-month revenue of ₩1.14T and operating income of ₩127B as of H1 2026, after a loss-making 2023 and 2024. The shares closed at ₩34,150 on 2026-10-28, down 36% over one year and near the 52-week low of ₩32,400. The data includes no business description, so the company's products and markets are not covered beyond news headlines.

What stands out

• Trailing operating margin is 11.1% and net margin 7.7%, compared with an operating loss in 2024 and a 5.3% operating margin for full-year 2025.
• Trailing free cash flow is negative at about ₩121B, and liabilities are 236.5% of equity.
• Trailing P/E is 52.7 and P/B is 2.3, well above listed securities-sector peers, which show P/E of 3.5 to 7.3 in the data.
• Recent headlines say stock trading volume has declined, and a Korea Investment & Securities note says the company may fall short of its 3Q operating profit forecast.
• Foreign ownership eased slightly to 28.2% from 28.7% sixty days earlier; 20-day flows show net foreign buying but net institutional and retail selling.

What to watch

• The full 3Q 2026 results, following the 2026-10-19 advance notice of earnings results and the Korea Investment & Securities comment on profit shortfall.
• Whether insurance and payments growth, such as the KakaoPay General Insurance subscriber milestone, offsets lower securities trading volumes.
• Recent insider and largest-shareholder holding reports and related-party transaction filings, with no dividend paid (yield 0%).