NICE Information & Telecommunication earns fees from card-payment infrastructure. Its mainstays are the VAN business that links offline merchants and card companies and the PG business that processes payments for online shopping malls, with foreign-tourist VAT refunds (TRS) added on, so fees accumulate like a toll each time a payment occurs. On June 2, 2026, a single day brought decisions on a treasury-share trust agreement and cancellation, a stock split, an acquisition of shares in another corporation, and the convening of an extraordinary shareholders' meeting, and the Q1 2026 quarterly report filed on May 14 came amid a strengthened policy of returning earned cash to shareholders. What stands out lately is a set of strengths: fees that accumulate in proportion to transaction counts, accelerating revenue and operating profit together, an ROE of 10.8%, a low valuation of a trailing P/E of 6.5x, a forward P/E of 5.1x, and a P/B of 0.71x, plus a 3.9% dividend and treasury-share cancellation. On the other hand, card fee-rate policy directly affects margins, and the ongoing stock split and capital reorganization may make per-share metrics look different for a while.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt far exceeds equity (debt ratio 302.1%).
- Revenue rose 12.3% year over year, and the pace is quickening (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 11.0% higher than a year earlier.
- Even versus the prior quarter (Q4 2025), revenue was 0.5% higher.
- ROE is 10.8% (controlling-interest basis). It is above the sector average.
- Operating margin is 5.1%.
- The forward P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder NICE Holdings 42.7% (corporate)
Controlling bloc incl. related parties 42.7%
With the controlling bloc holding 43%, the ownership structure is stable.
🔎 In-depth analysis
- NICE Information & Telecommunication earns fees from card-payment infrastructure.
- Its mainstays run along two lines.
- First is the VAN (value-added network) business, which lays a network between offline merchants and card companies to relay card-payment approvals and handle receipt purchasing and billing on their behalf for a per-transaction fee.
- Second is the PG (online payment gateway) business, which securely processes various payment methods such as cards, account transfers, and simple payments at online shopping malls for a fee proportional to the payment amount.
- Foreign-tourist VAT refund (TRS) services are added to this.
- In other words, this is not a company that makes and sells products directly; fees accumulate like a toll each time a payment occurs, so revenue grows alongside rising card and online consumption.
- The latest close is ₩30,100 and market capitalization is ₩273.9 billion.
- The price sits above its 20-day line (₩29,102) and above its 60-day line (₩28,625).
- Above both the short- and medium-term moving averages, the trend is favorable.
- The RSI (a supplementary gauge that measures upward versus downward momentum over the last 14 days on a 0-100 scale) is 56.4, at a neutral level.
- The one-month change is +6.7%, the three-month change is +23.9%, and the position versus the 52-week high is -13.4%.
- Relative strength versus the KOSDAQ is 89 (on a 1-99 scale, computed from returns against the index over the past year with more weight on recent performance; higher means stronger than the market).
- That places it in roughly the top 10% of all stocks by strength.
- Over the past three months it outpaced the index by 67.6%.
- Chart readings are best viewed alongside trading volume and disclosure dates.
- The price is low relative to both profit and assets.
- The P/E (how many times one year's profit the share price trades at) is 7.02x and the P/B (how many times book net assets the price trades at) is 0.76x, trading below net assets.
- Profitability is sound, with an ROE (how much is earned in a year on equity) of 10.8%, an operating margin of 5.1%, and a net margin of 3.9%.
- Because per-transaction payment fees are the core business the absolute margin is not high, but it is a structure that produces a double-digit ROE without deploying heavy capital.
- On top of that, a dividend yield of 3.9% (a per-share dividend of ₩1,100) and a payout ratio of 21% return part of earnings in cash steadily.
- The debt ratio (debt relative to equity) of 302% looks high on the number alone, but this is working-capital-type debt peculiar to payment processing, where amounts payable to be settled to merchants are booked as liabilities rather than bank borrowings, so it differs in character from financial risk.
- The interest-coverage ratio is also 7.6x, leaving ample capacity to cover interest.
- One point to note is that the on-screen P/E and P/B are trailing (past-confirmed) values calculated on last year's confirmed results and the share count as of the most recent report.
- With profit rising now, the forward (projected) P/E on this year's expected profit is even lower at 5.1x, pointing not to an "expensive" burden but rather toward undervaluation.
- Once the ongoing stock split is reflected, the per-share numbers change, but the company's total value and market cap do not.
- Growth is in an accelerating phase.
- Revenue moved ₩891.6 billion (2023) to ₩975.1 billion (2024) to ₩1.0947 trillion (2025), with last year's growth of 12.3% faster than the prior year (9.4%).
- Operating profit in particular grew 38.7% last year (from +8.6% the year before), a distinct margin improvement.
- In Q1 2026, revenue +11.0%, operating profit +54.4%, and net profit +72.0% showed profit growth far outpacing revenue growth.
- There is a clear reason profit grows faster than revenue: as card and simple-payment volumes structurally rise, transaction counts rise with them, while fixed costs such as networks and servers are already in place, so the added volume drops to profit without extra cost (operating leverage).
- The forward P/E on this year's expected profit falling to 5.1x is a figure that shows this profit capacity is actually expanding.
- A trajectory of double-digit revenue growth alongside margin improvement is not one-off but a structure likely to continue as long as the payment market grows.
- Recent disclosures are concentrated on shareholder returns and capital reorganization.
- On June 2, 2026, a single day brought decisions on a treasury-share trust agreement, a treasury-share cancellation, a stock split, an acquisition of shares in another corporation, and the convening of an extraordinary shareholders' meeting all at once.
- Buying back and canceling part of the treasury shares reduces the share count and raises per-share value, while a stock split (par-value split) divides one share into several to lower the trading unit, leaving total company value unchanged but changing the per-share price and share count proportionally.
- The acquisition of shares in another corporation is read as securing a stake in payment or related businesses.
- In April-May, changes in executives' and major shareholders' stakes and large-holding reports followed, and the Q1 2026 quarterly report was filed on May 14.
- The broad thread is a strengthened shareholder-return policy of "returning earned cash to shareholders through treasury-share purchases, cancellations, and dividends."
- This is a stock with clear strengths: a business structure where fees accumulate in proportion to transaction counts, accelerating revenue and operating profit together, sound profitability with an ROE of 10.8%, and shareholder returns adding a 3.9% dividend and treasury-share cancellation on top of a low valuation (a trailing P/E of 6.5x, a forward P/E of 5.1x on this year's expected basis, and a P/B of 0.71x).
- Within the same payment-processing industry its profit growth and profitability are on the upper side while its price is on the lower side, reading as undervalued.
- What to watch is the nature of the business itself.
- In payment processing, card fee-rate policy directly affects core-business margins, and the ongoing stock split and capital reorganization may make per-share metrics look different for a while.
- In short, in an environment where card and online payment consumption rises and shareholder returns continue, operating leverage comes alive and it is strong; in a phase where fee-rate regulation comes down hard, margins may be compressed.
- The current figures lean toward that strength not being fully reflected in the price.
🔎 Valuation vs peers Undervalued
Payment-processing (PG) and VAN operators that likewise earn from card and online payment fees.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| NHN KCP | 10.86x | 1.67x | 15.38% |
| KG Inicis | 5.38x | 0.52x | 9.60% |
Within the payment-processing peer group, NICE Information & Telecommunication's P/E of 6.6x and P/B of 0.71x fall well short of NHN KCP (P/E 13.0, P/B 2.0) and sit close to KG Inicis (P/E 5.7, P/B 0.55) but ahead of it in ROE (10.8% vs 9.6%) and growth (revenue +12.3% vs +0.3%). In other words, among companies in a similar business, its profit growth and profitability are on the upper side while its price tag (valuation) is on the lower side, which can be seen as a discount. That said, the on-screen P/E is a trailing value on last year's confirmed profit, so with profit rising quickly now, the trailing figure may understate the company's current profit capacity (the limit of a profit-inflection phase). On this year's projected profit, the valuation burden falls further. In conclusion, rather than declaring it outright cheap, the fair reading is that, as long as payment-consumption growth and shareholder returns hold, its low valuation versus peers appears to lack a reasonable basis.
Price history Close · MA20 · MA60
The latest close is ₩30,100 and the market capitalization is ₩273.9 billion. The price sits above its 20-day moving average (₩29,102) and above its 60-day moving average (₩28,625). It holds above both its short- and medium-term moving averages, so the trend looks healthy. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 56.4, a neutral level. The one-month change is +6.7%, the three-month change is +23.9%, and the position relative to the 52-week high is -13.4%. Relative strength versus the KOSDAQ is 89 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 90% of all stocks. Over the past three months it outpaced the index by 67.6%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M +67.61% / 6M +45.54% / 12M +33.66%
Key metrics vs sector median
Valuation
The P/E of 7.02x is below the sector median (12.21x). The P/B of 0.76x is in line with the sector median (0.83x). That said, this P/E is based on last year's (trailing) results. With recent quarterly earnings up sharply, the trailing P/E can look higher than it really is, so a precise read is best done on this year's expected (forward) earnings.
Enterprise value (EV)
EV = market cap + net debt. It reflects cash and debt, so it captures the real cost of the whole business that market cap alone misses; lower multiples are cheaper relative to earnings or sales.
Profitability & financials
Return on equity (ROE) is 10.8%, above the sector average (9.0%). The operating margin is 5.1%. The debt ratio is 302.1%, so the financial structure is somewhat high.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $590.9M | $646.3M | $725.5M | +12.26% ↑ faster |
| Operating profit | $24.3M | $26.4M | $36.6M | +38.67% ↑ faster |
| Net profit | $20.1M | $25.4M | $28.4M | +11.95% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $444.4M | $533.4M | $590.9M | $646.3M | $725.5M |
| Operating profit | $31.0M | $31.9M | $24.3M | $26.4M | $36.6M |
| Net profit | $26.4M | $27.0M | $20.1M | $25.4M | $28.4M |
| Revenue CAGR | 4-yr avg 13.04% | ||||
Revenue rose 12.3% year over year (2023 ₩891.6 billion → 2024 ₩975.1 billion → 2025 ₩1.1 trillion), and the three-year trend is 'rising'. The pace of growth also quickened from the prior year. Operating profit rose 38.7% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 13.0%. The two-year revenue CAGR is 10.8%. In the most recent quarter (Q1 2026), revenue was 11.0% higher than the same period a year earlier. Because quarterly results are relatively even in this industry, revenue also came in 0.5% higher than the prior quarter (Q4 2025), so the recent trend looks solid.
Latest quarterly results Q1 2026 · vs year-ago + prior quarter
Technical indicators
What stands out
- P/E and P/B are both low versus peers, so the price looks inexpensive relative to earnings and assets.
- The dividend yield, at 3.6%, is on the high side.
- ROE of 10.8% points to solid profitability.
- Revenue grew 12.3% year over year, a sign of growth.
Points to watch
- The figures shown are based on the last annual report as of the writing date, so it is best to review the latest quarterly results and filings alongside them.
Recent news & events searched · sourced
- 2026-06-02UpdateDecision to enter a trust agreement to acquire treasury shares. A treasury-share purchase program for the purpose of enhancing shareholder value.Short-term supply-demand improvement and per-share value defense. In the medium term, if linked to cancellation, a reduced share count improves per-share metrics. Source
- 2026-06-02FilingDecision to cancel treasury shares. Eliminating part of the held treasury shares to reduce the number of shares outstanding.A reduced share count raises earnings per share and net assets per share. A medium-term signal of stronger shareholder returns. Source
- 2026-06-02FilingDecision on a stock split (par-value split). Dividing one share into several to lower the trading unit.Total company value unchanged, with the per-share price and share count adjusted proportionally. Aims to improve liquidity and broaden small-investor access. Source
- 2026-06-02FilingDecision to acquire shares and equity securities in another corporation. An investment in the nature of securing a stake in payment or related businesses.A medium-term factor for business-area expansion and changes in consolidated results. Cash-flow impact depending on investment size. Source
- 2026-05-14EarningsQ1 2026 quarterly report filed. Revenue ₩285.7 billion (+11.0% YoY), operating profit ₩14.9 billion (+54.4%), net profit ₩15.1 billion (+72.0%).A joint surge in operating and net profit confirms accelerating growth. That said, it partly includes a base effect from Q1 last year. Source
- 2026-06-02FilingResolution to convene an extraordinary shareholders' meeting and set a record date for closing the shareholder register. Procedure to process the above capital-reorganization agenda.Advances the approval procedure for the stock split and capital measures. Affects trading and rights record dates as the schedule is fixed. Source
Figure cross-check computed ↔ external
Recent filings
- 2026-06-02TreasuryMaterial-fact report
- 2026-06-02Disclosure
- 2026-06-02Shareholders' meeting notice
- 2026-06-02Disclosure
- 2026-06-02Spin-off/split decision
- 2026-06-02Disclosure
- 2026-05-14PeriodicQuarterly report
- 2026-04-24OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-22OwnershipOwnership-change filing
- 2026-04-20OwnershipOfficers'/major-shareholders' holdings report
- 2026-04-06OwnershipOwnership-change filing
- 2026-04-03OwnershipOfficers'/major-shareholders' holdings report
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.