Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩5,600, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 15x in the Software industry in South Korea. Total loss to shareholders of 4.9% over the past three years. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: ₩321 (vs ₩128 in FY 2024) Full year 2025 results: EPS: ₩321 (up from ₩128 in FY 2024). Revenue: ₩66.8b (up 39% from FY 2024). Net income: ₩3.16b (up 150% from FY 2024). Profit margin: 4.7% (up from 2.6% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 11
Now 25% overvalued Over the last 90 days, the stock has fallen 7.6% to ₩4,775. The fair value is estimated to be ₩3,834, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩4,000, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 39% over the past three years. Duyuru • Feb 14
nTels Co., Ltd., Annual General Meeting, Mar 19, 2026 nTels Co., Ltd., Annual General Meeting, Mar 19, 2026, at 09:01 Tokyo Standard Time. Location: auditorium, 17, hakdong-ro 43-gil, gangnam-gu, seoul South Korea Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: ₩128 (vs ₩134 loss in FY 2023) Full year 2024 results: EPS: ₩128 (up from ₩134 loss in FY 2023). Revenue: ₩47.9b (up 6.7% from FY 2023). Net income: ₩1.26b (up ₩2.59b from FY 2023). Profit margin: 2.6% (up from net loss in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Duyuru • Feb 18
nTels Co., Ltd., Annual General Meeting, Mar 20, 2025 nTels Co., Ltd., Annual General Meeting, Mar 20, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 17, hakdong-ro 43-gil, gangnam-gu, seoul South Korea New Risk • Dec 07
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (₩34.2b market cap, or US$24.0m). Reported Earnings • Mar 16
Full year 2023 earnings released: ₩134 loss per share (vs ₩12.00 profit in FY 2022) Full year 2023 results: ₩134 loss per share (down from ₩12.00 profit in FY 2022). Revenue: ₩44.9b (down 16% from FY 2022). Net loss: ₩1.33b (down ₩1.44b from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. New Risk • Aug 25
New major risk - Revenue and earnings growth Earnings have declined by 5.3% 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 5.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (₩47.6b market cap, or US$36.0m). Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: ₩12.00 (vs ₩416 in FY 2021) Full year 2022 results: EPS: ₩12.00 (down from ₩416 in FY 2021). Revenue: ₩53.6b (down 6.8% from FY 2021). Net income: ₩114.7m (down 97% from FY 2021). Profit margin: 0.2% (down from 7.3% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 19% share price gain to ₩6,770, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 5.5% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 1 independent director (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improved over the past week After last week's 20% share price gain to ₩5,390, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 14x in the Software industry in South Korea. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩4,160, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 13x in the Software industry in South Korea. Total loss to shareholders of 48% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩4,755, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 13x in the Software industry in South Korea. Total loss to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improved over the past week After last week's 16% share price gain to ₩6,300, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₩6,110, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 18x in the Software industry in South Korea. Total loss to shareholders of 46% over the past three years. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 1 independent director (8 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩7,800, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 22x in the Software industry in South Korea. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 16% share price gain to ₩11,000, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 25x in the Software industry in South Korea. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 15% share price gain to ₩11,100, the stock trades at a trailing P/E ratio of 38.8x. Average trailing P/E is 24x in the Software industry in South Korea. Total returns to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 20% share price gain to ₩15,300, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 23x in the Software industry in South Korea. Total returns to shareholders of 87% over the past three years. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improved over the past week After last week's 34% share price gain to ₩16,200, the stock trades at a trailing P/E ratio of 20.4x. Average trailing P/E is 27x in the Software industry in South Korea. Total returns to shareholders of 94% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 23% share price gain to ₩11,100, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 22x in the Software industry in South Korea. Total returns to shareholders of 33% over the past three years. Duyuru • Feb 25
nTels Co., Ltd., Annual General Meeting, Mar 25, 2021 nTels Co., Ltd., Annual General Meeting, Mar 25, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Feb 04
New 90-day high: ₩11,350 The company is up 34% from its price of ₩8,450 on 06 November 2020. The South Korean market is up 27% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 10.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: ₩9,900 The company is up 24% from its price of ₩8,010 on 22 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is up 11% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: ₩9,430 The company is up 9.0% from its price of ₩8,670 on 06 October 2020. The South Korean market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: ₩9,090 The company is up 2.0% from its price of ₩8,940 on 18 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 15
New 90-day low: ₩8,180 The company is down 20% from its price of ₩10,200 on 17 July 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 12% over the same period.