Quality Reliability Technology큐알티

Quality Reliability Technology's share price has risen sharply over three months, while trailing profits have slipped from their 2022 peak.

The company tests and analyses the reliability of semiconductors and electronic components, and sells evaluation equipment. Trailing twelve-month revenue is about ₩75.0B with operating income of ₩7.2B and net income of ₩5.5B as of H1 2026, against a 2022 peak of ₩10.3B operating income. At ₩17,300 the shares trade at a trailing P/E of 39 and P/B of 2.4, and the data's DCF model gives a base value of ₩5,113, well below the current price.

What stands out

• Revenue has grown from ₩53.3B in 2023 to ₩68.9B in 2025, but operating margin fell from 17.2% in 2022 to 6.9% in 2025 and 9.7% on a trailing basis.
• Borrowings of ₩32.2B exceed cash of ₩20.9B, and liabilities are 66.8% of equity.
• Trailing free cash flow is ₩23.0B, which is well above trailing net income of ₩5.5B.
• Foreign ownership fell from 6.0% to 3.8% over the past 60 days, while retail investors were net buyers over the last 20 days.
• The price is up 66% over three months and 21.7% over one month, but only 6.9% over one year and well below its 52-week high of ₩24,200.
• Recent filings include a change of CEO, a corporate value-up plan and a change of department affiliation, all dated March to April 2026; no news headlines were supplied.

What to watch

• The Q3 2026 quarterly report, due after the half-year report filed on 14 August 2026, to see whether margins hold above the 2025 level.
• Insider shareholding reports and any further changes in foreign ownership.
• The gap between the DCF base value of ₩5,113 and the share price, and whether the company's borrowings and margins move in a direction that narrows it.