Inics이닉스

Inics remains loss-making at the operating line over the trailing twelve months, though it posted a small net profit, and its shares have fallen sharply over the past year.

Inics is a small KOSDAQ maker of battery cell pads and fire-resistant materials for electric vehicle pouch-type batteries. Trailing twelve-month revenue is about ₩116.5B, with an operating loss of about ₩1.7B and a net profit of about ₩0.7B, and the share price is down 51.6% over one year to ₩5,000. The data does not include analyst ratings, price targets or forecasts.

What stands out

• Revenue has been roughly flat at about ₩105B to ₩123B across 2023 to 2025, after a sharp fall in operating profit from ₩10.8B in 2023 to operating losses in 2024 and 2025.
• Trailing free cash flow is negative at about -₩4.7B, while cash of ₩27.2B exceeds borrowings of ₩7.7B.
• The small trailing net profit does not come from operations, since the operating line is negative; the data does not explain the difference.
• Valuation metrics are high on earnings, with a P/E of 62.2, but low on book value, with a P/B of 0.4; the company pays no dividend.
• Foreign ownership is 1.5% and unchanged over 60 days, and the 20-day investor flow data shows foreign selling of about ₩61M against retail buying of about ₩71M.

What to watch

• The next quarterly and annual results, to see whether operating profit turns positive and whether the trailing net profit holds.
• Filings on executive and major shareholder share trading, including the Trading Plan Report filed on 2026-10-13.
• Progress of the new Auburn, Alabama factory and customer concentration, since the profile names Hyundai Mobis, SK On and Volkswagen via SKBA, though the data does not describe their contract terms.