View Future GrowthINNOAXLTD 과거 순이익 실적과거 기준 점검 0/6INNOAXLTD의 수입은 연평균 -0.04%의 비율로 감소해 온 반면, Software 산업은 수입이 연평균 7.9% 증가했습니다. 매출은 연평균 13%의 비율로 증가해 왔습니다. INNOAXLTD의 자기자본이익률은 7.6%이고 순이익률은 11.3%입니다.핵심 정보-0.037%순이익 성장률-13.39%주당순이익(EPS) 성장률Software 산업 성장률14.56%매출 성장률12.99%자기자본이익률7.57%순이익률11.27%최근 순이익 업데이트31 Dec 2025최근 과거 실적 업데이트분석 기사 • 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.모든 업데이트 보기Recent updatesValuation 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.분석 기사 • 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.공지 • 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.공지 • 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.분석 기사 • 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...분석 기사 • 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.공지 • 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).분석 기사 • 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).분석 기사 • 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...분석 기사 • 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%.분석 기사 • 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.공지 • 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%.공지 • 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 Offering매출 및 비용 세부 내역INNOAXLTD가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이KOSDAQ:A296640 매출, 비용 및 순이익 (KRW Millions)날짜매출순이익일반관리비연구개발비31 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 1810,0083394,950935양질의 수익: A296640의 비현금 수익 수준이 높습니다.이익 마진 증가: A296640의 현재 순 이익률 (11.3%)은 지난해 (13%)보다 낮습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: A296640의 수익은 지난 5년 동안 연평균 0.04% 감소했습니다.성장 가속화: A296640은 지난 1년 동안 수익이 감소하여 5년 평균과 비교할 수 없습니다.수익 대 산업: A296640은 지난 1년 동안 수익이 감소(-15.9%)하여 Software 업계 평균(3.6%)과 비교하기 어렵습니다.자기자본이익률높은 ROE: A296640의 자본 수익률(7.6%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YSoftware 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/08 20:14종가2026/05/08 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스INNOAX CO.,LTD는 1명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Se Hoon SohnNH Investment & Securities Co., Ltd.
분석 기사 • 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 • 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.
분석 기사 • 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.
공지 • 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.
공지 • 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.
분석 기사 • 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...
분석 기사 • 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.
공지 • 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).
분석 기사 • 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).
분석 기사 • 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...
분석 기사 • 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%.
분석 기사 • 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.
공지 • 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%.
공지 • 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