G.I.Tech지아이텍

G.I.Tech shows thin margins and a steep share price fall over the past year, while it signs new contracts and expands into new markets.

G.I.Tech makes coating components for battery, hydrogen cell and display production, and after a July 2025 merger it also sells machine vision inspection equipment. Trailing twelve-month revenue to H1 2026 was about ₩38.8B with an operating margin of 2.6%, down from 8.1% in 2024. The share price closed at ₩1,444 on 2026-10-27, well below its 52-week high of ₩3,265.

What stands out

• Operating income has fallen sharply, from ₩4.5B in 2023 to ₩1.0B on a trailing basis, while revenue has stayed roughly flat around ₩36B to ₩39B.
• Trailing net income of ₩5.0B is about five times operating income, so the bottom line relies on non-operating items that the data does not explain.
• Free cash flow is negative at about -₩6.6B, and borrowings are ₩25.0B against cash of ₩19.0B.
• The company disclosed a ₩3.2B supply contract with KCC Glass on 2026-10-26 and is entering automotive inspection equipment, according to news reports.
• Foreign ownership fell from 3.4% to 2.7% over 60 days, and 20-day flows show foreign and institutional selling against retail buying.

What to watch

• The next half-year or quarterly results, to see whether operating margin recovers from 2.6% and whether free cash flow turns positive.
• Whether the new automotive inspection and water treatment projects produce meaningful revenue, which the data does not yet show.
• Further insider shareholding and 5%+ holding filings, which have been frequent in recent months.