View Future GrowthINNOAXLTD 過去の業績過去 基準チェック /16INNOAXLTDは、平均年間1.9%の収益成長を遂げていますが、 Software業界の収益は、年間 成長しています。収益は、平均年間10.8% 18.4%収益成長率で 成長しています。 INNOAXLTDの自己資本利益率は7.5%であり、純利益率は10.3%です。主要情報1.89%収益成長率-10.18%EPS成長率Software 業界の成長14.56%収益成長率18.35%株主資本利益率7.45%ネット・マージン10.32%前回の決算情報31 Mar 2026最近の業績更新分析記事 • Mar 27There Might Be More To InnorulesLtd's (KOSDAQ:296640) Story Than Just Weak EarningsInnorules Co.,Ltd ( KOSDAQ:296640 ) recently posted soft earnings but shareholders didn't react strongly. We did some...Reported Earnings • Mar 24Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: ₩511 (down from ₩607 in FY 2024). Revenue: ₩22.9b (down 3.3% from FY 2024). Net income: ₩2.58b (down 16% from FY 2024). Profit margin: 11% (down from 13% in FY 2024). Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 22Full year 2024 earnings released: EPS: ₩607 (vs ₩7.00 in FY 2023)Full year 2024 results: EPS: ₩607 (up from ₩7.00 in FY 2023). Revenue: ₩23.7b (up 53% from FY 2023). Net income: ₩3.07b (up ₩3.04b from FY 2023). Profit margin: 13% (up from 0.2% in FY 2023). The increase in margin was driven by higher revenue.Reported Earnings • Mar 22Full year 2023 earnings released: EPS: ₩7.00 (vs ₩500 in FY 2022)Full year 2023 results: EPS: ₩7.00 (down from ₩500 in FY 2022). Revenue: ₩15.5b (down 4.4% from FY 2022). Net income: ₩34.8m (down 98% from FY 2022). Profit margin: 0.2% (down from 13% in FY 2022). The decrease in margin was primarily driven by higher expenses.すべての更新を表示Recent updatesValuation Update With 7 Day Price Move • Jun 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to ₩5,620, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 13x in the Software industry in South Korea. Total loss to shareholders of 38% over the past three years.Valuation Update With 7 Day Price Move • Apr 17Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ₩8,110, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 7.3% over the past three years.分析記事 • Mar 27There Might Be More To InnorulesLtd's (KOSDAQ:296640) Story Than Just Weak EarningsInnorules Co.,Ltd ( KOSDAQ:296640 ) recently posted soft earnings but shareholders didn't react strongly. We did some...New Risk • Mar 24New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.04% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩43.5b market cap, or US$29.1m).Reported Earnings • Mar 24Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: ₩511 (down from ₩607 in FY 2024). Revenue: ₩22.9b (down 3.3% from FY 2024). Net income: ₩2.58b (down 16% from FY 2024). Profit margin: 11% (down from 13% in FY 2024). Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Mar 03Investor sentiment improves as stock rises 19%After last week's 19% share price gain to ₩6,360, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 49% over the past three years.お知らせ • Feb 12Innorules Co.,Ltd, Annual General Meeting, Mar 26, 2026Innorules Co.,Ltd, Annual General Meeting, Mar 26, 2026, at 09:30 Tokyo Standard Time. Location: conference room, 7, beobwon-ro 6-gil, songpa-gu, seoul South KoreaNew Risk • Jan 20New major risk - Revenue and earnings growthEarnings have declined by 2.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩26.8b market cap, or US$18.2m).Upcoming Dividend • Dec 22Upcoming dividend of ₩250 per shareEligible shareholders must have bought the stock before 29 December 2025. Payment date: 16 April 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.7%).Declared Dividend • Nov 08Dividend of ₩250 announcedDividend of ₩250 is the same as last year. Ex-date: 29th December 2025 Payment date: 16th April 2026 Dividend yield will be 4.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 31% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Nov 07Innorules Co.,Ltd announces Annual dividend, payable on April 16, 2026Innorules Co.,Ltd announced Annual dividend of KRW 250.0000 per share payable on April 16, 2026, ex-date on December 29, 2025 and record date on December 31, 2025.分析記事 • Aug 05Returns On Capital Signal Tricky Times Ahead For InnorulesLtd (KOSDAQ:296640)KOSDAQ:A296640 1 Year Share Price vs Fair Value Explore InnorulesLtd's Fair Values from the Community and select yours...分析記事 • Apr 16Innorules Co.,Ltd's (KOSDAQ:296640) 26% Share Price Surge Not Quite Adding UpThe Innorules Co.,Ltd ( KOSDAQ:296640 ) share price has done very well over the last month, posting an excellent gain...Valuation Update With 7 Day Price Move • Apr 08Investor sentiment improves as stock rises 26%After last week's 26% share price gain to ₩7,940, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 17% over the past year.Reported Earnings • Mar 22Full year 2024 earnings released: EPS: ₩607 (vs ₩7.00 in FY 2023)Full year 2024 results: EPS: ₩607 (up from ₩7.00 in FY 2023). Revenue: ₩23.7b (up 53% from FY 2023). Net income: ₩3.07b (up ₩3.04b from FY 2023). Profit margin: 13% (up from 0.2% in FY 2023). The increase in margin was driven by higher revenue.お知らせ • Feb 19Innorules Co.,Ltd, Annual General Meeting, Mar 27, 2025Innorules Co.,Ltd, Annual General Meeting, Mar 27, 2025, at 09:10 Tokyo Standard Time. Location: conference room, 7, beobwon-ro 6-gil, songpa-gu, seoul South KoreaNew Risk • Feb 11New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 92% Dividend yield: 3.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (92% cash payout ratio). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩33.0b market cap, or US$22.7m).分析記事 • Feb 10We Think InnorulesLtd (KOSDAQ:296640) Can Manage Its Debt With EaseHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Upcoming Dividend • Dec 20Upcoming dividend of ₩60.00 per shareEligible shareholders must have bought the stock before 27 December 2024. Payment date: 15 April 2025. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (1.6%).New Risk • Dec 16New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (₩34.8b market cap, or US$24.2m).分析記事 • Dec 10InnorulesLtd (KOSDAQ:296640) Is Reinvesting At Lower Rates Of ReturnWhat trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst...分析記事 • Dec 09Innorules Co.,Ltd (KOSDAQ:296640) Stock Rockets 26% As Investors Are Less Pessimistic Than ExpectedThe Innorules Co.,Ltd ( KOSDAQ:296640 ) share price has done very well over the last month, posting an excellent gain...New Risk • Dec 09New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 10.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10.0% average weekly change). Market cap is less than US$100m (₩35.6b market cap, or US$24.9m).Valuation Update With 7 Day Price Move • Dec 09Investor sentiment improves as stock rises 20%After last week's 20% share price gain to ₩7,050, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 1.6% over the past year.Valuation Update With 7 Day Price Move • Nov 19Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₩6,000, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 14x in the Software industry in South Korea. Total loss to shareholders of 14% over the past year.New Risk • Aug 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (₩27.6b market cap, or US$20.2m).Buy Or Sell Opportunity • Jul 18Now 37% overvalued after recent price riseOver the last 90 days, the stock has risen 1.4% to ₩7,200. The fair value is estimated to be ₩5,251, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last year. Earnings per share has declined by 16%.分析記事 • Jul 18A Look At The Intrinsic Value Of Innorules Co.,Ltd (KOSDAQ:296640)Key Insights The projected fair value for InnorulesLtd is ₩5,239 based on 2 Stage Free Cash Flow to Equity...New Risk • Jun 10New major risk - Revenue and earnings growthEarnings have declined by 29% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩40.1b market cap, or US$29.1m).Reported Earnings • Mar 22Full year 2023 earnings released: EPS: ₩7.00 (vs ₩500 in FY 2022)Full year 2023 results: EPS: ₩7.00 (down from ₩500 in FY 2022). Revenue: ₩15.5b (down 4.4% from FY 2022). Net income: ₩34.8m (down 98% from FY 2022). Profit margin: 0.2% (down from 13% in FY 2022). The decrease in margin was primarily driven by higher expenses.Upcoming Dividend • Dec 20Upcoming dividend of ₩110 per share at 1.5% yieldEligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.5%). In line with average of industry peers (1.6%).Valuation Update With 7 Day Price Move • Jul 26Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ₩7,650, the stock trades at a trailing P/E ratio of 40.6x. Average trailing P/E is 16x in the Software industry in South Korea.お知らせ • May 17Innorules Co.,Ltd (KOSDAQ:A296640) announces an Equity Buyback for KRW 1,000 million worth of its shares.Innorules Co.,Ltd (KOSDAQ:A296640) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a trust agreement with NH Investment & Securities Co., Ltd. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. The program will continue until May 16, 2024. As of May 14, 2023, the company had no shares in treasury through buyback within dividend capacity or through other acquisitions.Buying Opportunity • Apr 20Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be ₩12,102, however this is not to be taken as a buy recommendation but rather should be used as a guide only.Valuation Update With 7 Day Price Move • Apr 12Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₩10,290, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 20x in the Software industry in South Korea.Buying Opportunity • Mar 31Now 23% undervaluedOver the last 90 days, the stock is up 21%. The fair value is estimated to be ₩15,161, however this is not to be taken as a buy recommendation but rather should be used as a guide only.Buying Opportunity • Oct 25Now 22% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be ₩18,664, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last year. Earnings per share has grown by 16%.お知らせ • Oct 08Innorules Co.,Ltd has completed an IPO in the amount of KRW 14.4343 billion.Innorules Co.,Ltd has completed an IPO in the amount of KRW 14.4343 billion. Security Name: Common Stock Security Type: Common Stock Securities Offered: 818,187 Price\Range: KRW 12500 Discount Per Security: KRW 500 Security Name: Common Stock Security Type: Common Stock Securities Offered: 336,557 Price\Range: KRW 12500 Discount Per Security: KRW 500 Transaction Features: ESOP Related Offering; Sponsor Backed Offering収支内訳INNOAXLTD の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史KOSDAQ:A296640 収益、費用、利益 ( )KRW Millions日付収益収益G+A経費研究開発費31 Mar 2624,3382,5128,2162,92231 Dec 2522,9332,5847,8072,99430 Sep 2524,3322,4848,7222,62030 Jun 2524,4692,8648,3012,42631 Mar 2524,6433,1948,1642,27831 Dec 2423,7073,0727,8362,09030 Sep 2420,1602,1646,7231,97130 Jun 2417,9341,2516,3091,86031 Mar 2416,5168956,0331,79431 Dec 2315,511356,1561,85930 Sep 2315,8924686,5441,91030 Jun 2315,9675876,6252,01831 Mar 2315,8299686,5002,01031 Dec 2216,2312,1496,1071,86630 Sep 2216,5662,7335,4201,70630 Jun 2216,5733,3704,9001,51831 Mar 2216,6303,2645,1801,44631 Dec 2116,4052,8335,5191,42731 Dec 2011,4052,1414,1771,09131 Dec 1914,0581,8684,36370331 Dec 1810,0083394,950935質の高い収益: A296640には₩668.5M } という大きな 一回限りの 利益があり、過去 12 か月の財務実績が31st March, 2026に影響を及ぼしています。利益率の向上: A296640の現在の純利益率 (10.3%)は、昨年(13%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: A296640の収益は過去 5 年間で年間1.9%増加しました。成長の加速: A296640は過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。収益対業界: A296640は過去 1 年間で収益成長率がマイナス ( -21.4% ) となったため、 Software業界平均 ( 21.7% ) と比較することが困難です。株主資本利益率高いROE: A296640の 自己資本利益率 ( 7.5% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YSoftware 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/09 01:51終値2026/06/09 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋INNOAX CO.,LTD 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Se Hoon SohnNH Investment & Securities Co., Ltd.
分析記事 • Mar 27There Might Be More To InnorulesLtd's (KOSDAQ:296640) Story Than Just Weak EarningsInnorules Co.,Ltd ( KOSDAQ:296640 ) recently posted soft earnings but shareholders didn't react strongly. We did some...
Reported Earnings • Mar 24Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: ₩511 (down from ₩607 in FY 2024). Revenue: ₩22.9b (down 3.3% from FY 2024). Net income: ₩2.58b (down 16% from FY 2024). Profit margin: 11% (down from 13% in FY 2024). Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 22Full year 2024 earnings released: EPS: ₩607 (vs ₩7.00 in FY 2023)Full year 2024 results: EPS: ₩607 (up from ₩7.00 in FY 2023). Revenue: ₩23.7b (up 53% from FY 2023). Net income: ₩3.07b (up ₩3.04b from FY 2023). Profit margin: 13% (up from 0.2% in FY 2023). The increase in margin was driven by higher revenue.
Reported Earnings • Mar 22Full year 2023 earnings released: EPS: ₩7.00 (vs ₩500 in FY 2022)Full year 2023 results: EPS: ₩7.00 (down from ₩500 in FY 2022). Revenue: ₩15.5b (down 4.4% from FY 2022). Net income: ₩34.8m (down 98% from FY 2022). Profit margin: 0.2% (down from 13% in FY 2022). The decrease in margin was primarily driven by higher expenses.
Valuation Update With 7 Day Price Move • Jun 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to ₩5,620, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 13x in the Software industry in South Korea. Total loss to shareholders of 38% over the past three years.
Valuation Update With 7 Day Price Move • Apr 17Investor sentiment improves as stock rises 15%After last week's 15% share price gain to ₩8,110, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 7.3% over the past three years.
分析記事 • Mar 27There Might Be More To InnorulesLtd's (KOSDAQ:296640) Story Than Just Weak EarningsInnorules Co.,Ltd ( KOSDAQ:296640 ) recently posted soft earnings but shareholders didn't react strongly. We did some...
New Risk • Mar 24New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 0.04% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩43.5b market cap, or US$29.1m).
Reported Earnings • Mar 24Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: ₩511 (down from ₩607 in FY 2024). Revenue: ₩22.9b (down 3.3% from FY 2024). Net income: ₩2.58b (down 16% from FY 2024). Profit margin: 11% (down from 13% in FY 2024). Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Mar 03Investor sentiment improves as stock rises 19%After last week's 19% share price gain to ₩6,360, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 49% over the past three years.
お知らせ • Feb 12Innorules Co.,Ltd, Annual General Meeting, Mar 26, 2026Innorules Co.,Ltd, Annual General Meeting, Mar 26, 2026, at 09:30 Tokyo Standard Time. Location: conference room, 7, beobwon-ro 6-gil, songpa-gu, seoul South Korea
New Risk • Jan 20New major risk - Revenue and earnings growthEarnings have declined by 2.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩26.8b market cap, or US$18.2m).
Upcoming Dividend • Dec 22Upcoming dividend of ₩250 per shareEligible shareholders must have bought the stock before 29 December 2025. Payment date: 16 April 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.7%).
Declared Dividend • Nov 08Dividend of ₩250 announcedDividend of ₩250 is the same as last year. Ex-date: 29th December 2025 Payment date: 16th April 2026 Dividend yield will be 4.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 31% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Nov 07Innorules Co.,Ltd announces Annual dividend, payable on April 16, 2026Innorules Co.,Ltd announced Annual dividend of KRW 250.0000 per share payable on April 16, 2026, ex-date on December 29, 2025 and record date on December 31, 2025.
分析記事 • Aug 05Returns On Capital Signal Tricky Times Ahead For InnorulesLtd (KOSDAQ:296640)KOSDAQ:A296640 1 Year Share Price vs Fair Value Explore InnorulesLtd's Fair Values from the Community and select yours...
分析記事 • Apr 16Innorules Co.,Ltd's (KOSDAQ:296640) 26% Share Price Surge Not Quite Adding UpThe Innorules Co.,Ltd ( KOSDAQ:296640 ) share price has done very well over the last month, posting an excellent gain...
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment improves as stock rises 26%After last week's 26% share price gain to ₩7,940, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 17% over the past year.
Reported Earnings • Mar 22Full year 2024 earnings released: EPS: ₩607 (vs ₩7.00 in FY 2023)Full year 2024 results: EPS: ₩607 (up from ₩7.00 in FY 2023). Revenue: ₩23.7b (up 53% from FY 2023). Net income: ₩3.07b (up ₩3.04b from FY 2023). Profit margin: 13% (up from 0.2% in FY 2023). The increase in margin was driven by higher revenue.
お知らせ • Feb 19Innorules Co.,Ltd, Annual General Meeting, Mar 27, 2025Innorules Co.,Ltd, Annual General Meeting, Mar 27, 2025, at 09:10 Tokyo Standard Time. Location: conference room, 7, beobwon-ro 6-gil, songpa-gu, seoul South Korea
New Risk • Feb 11New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. Cash payout ratio: 92% Dividend yield: 3.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (92% cash payout ratio). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩33.0b market cap, or US$22.7m).
分析記事 • Feb 10We Think InnorulesLtd (KOSDAQ:296640) Can Manage Its Debt With EaseHoward Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Upcoming Dividend • Dec 20Upcoming dividend of ₩60.00 per shareEligible shareholders must have bought the stock before 27 December 2024. Payment date: 15 April 2025. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (1.6%).
New Risk • Dec 16New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (₩34.8b market cap, or US$24.2m).
分析記事 • Dec 10InnorulesLtd (KOSDAQ:296640) Is Reinvesting At Lower Rates Of ReturnWhat trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst...
分析記事 • Dec 09Innorules Co.,Ltd (KOSDAQ:296640) Stock Rockets 26% As Investors Are Less Pessimistic Than ExpectedThe Innorules Co.,Ltd ( KOSDAQ:296640 ) share price has done very well over the last month, posting an excellent gain...
New Risk • Dec 09New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 10.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10.0% average weekly change). Market cap is less than US$100m (₩35.6b market cap, or US$24.9m).
Valuation Update With 7 Day Price Move • Dec 09Investor sentiment improves as stock rises 20%After last week's 20% share price gain to ₩7,050, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 1.6% over the past year.
Valuation Update With 7 Day Price Move • Nov 19Investor sentiment improves as stock rises 17%After last week's 17% share price gain to ₩6,000, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 14x in the Software industry in South Korea. Total loss to shareholders of 14% over the past year.
New Risk • Aug 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (₩27.6b market cap, or US$20.2m).
Buy Or Sell Opportunity • Jul 18Now 37% overvalued after recent price riseOver the last 90 days, the stock has risen 1.4% to ₩7,200. The fair value is estimated to be ₩5,251, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last year. Earnings per share has declined by 16%.
分析記事 • Jul 18A Look At The Intrinsic Value Of Innorules Co.,Ltd (KOSDAQ:296640)Key Insights The projected fair value for InnorulesLtd is ₩5,239 based on 2 Stage Free Cash Flow to Equity...
New Risk • Jun 10New major risk - Revenue and earnings growthEarnings have declined by 29% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩40.1b market cap, or US$29.1m).
Reported Earnings • Mar 22Full year 2023 earnings released: EPS: ₩7.00 (vs ₩500 in FY 2022)Full year 2023 results: EPS: ₩7.00 (down from ₩500 in FY 2022). Revenue: ₩15.5b (down 4.4% from FY 2022). Net income: ₩34.8m (down 98% from FY 2022). Profit margin: 0.2% (down from 13% in FY 2022). The decrease in margin was primarily driven by higher expenses.
Upcoming Dividend • Dec 20Upcoming dividend of ₩110 per share at 1.5% yieldEligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.5%). In line with average of industry peers (1.6%).
Valuation Update With 7 Day Price Move • Jul 26Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to ₩7,650, the stock trades at a trailing P/E ratio of 40.6x. Average trailing P/E is 16x in the Software industry in South Korea.
お知らせ • May 17Innorules Co.,Ltd (KOSDAQ:A296640) announces an Equity Buyback for KRW 1,000 million worth of its shares.Innorules Co.,Ltd (KOSDAQ:A296640) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a trust agreement with NH Investment & Securities Co., Ltd. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. The program will continue until May 16, 2024. As of May 14, 2023, the company had no shares in treasury through buyback within dividend capacity or through other acquisitions.
Buying Opportunity • Apr 20Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be ₩12,102, however this is not to be taken as a buy recommendation but rather should be used as a guide only.
Valuation Update With 7 Day Price Move • Apr 12Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to ₩10,290, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 20x in the Software industry in South Korea.
Buying Opportunity • Mar 31Now 23% undervaluedOver the last 90 days, the stock is up 21%. The fair value is estimated to be ₩15,161, however this is not to be taken as a buy recommendation but rather should be used as a guide only.
Buying Opportunity • Oct 25Now 22% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be ₩18,664, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last year. Earnings per share has grown by 16%.
お知らせ • Oct 08Innorules Co.,Ltd has completed an IPO in the amount of KRW 14.4343 billion.Innorules Co.,Ltd has completed an IPO in the amount of KRW 14.4343 billion. Security Name: Common Stock Security Type: Common Stock Securities Offered: 818,187 Price\Range: KRW 12500 Discount Per Security: KRW 500 Security Name: Common Stock Security Type: Common Stock Securities Offered: 336,557 Price\Range: KRW 12500 Discount Per Security: KRW 500 Transaction Features: ESOP Related Offering; Sponsor Backed Offering