IDIS Holdings (054800) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
IDIS Holdings is a holding company that, rather than making products itself, controls manufacturing subsidiaries such as the video-surveillance maker IDIS, the printer maker Bixolon and the industrial-monitor maker Kortek, earning money from the consolidated revenue of its subsidiaries' equipment sales and from dividends on its stakes, spread across different downstream markets. Annual revenue of ₩908.1 billion, operating profit of ₩89.7 billion and net profit of ₩39.1 billion were confirmed in February 2026, along with first-quarter revenue of ₩244.6 billion and operating profit of ₩27.7 billion in May, and with subsidiary earnings rising every year and the pace of growth quickening, the value of its listed-subsidiary stakes alone is about ₩221.8 billion, above the ₩140.2 billion market cap. The point to watch is that as long as subsidiary earnings growth continues, the undervaluation of a P/E of 3.59x and a P/B of 0.38x stands out; but under a holding-company structure, its earnings hinge on subsidiary results and dividends, the consolidated debt ratio reads high, and with thin trading, a single disclosure can swing the price sharply.
This page organises public market and filing data for information purposes. It is not a recommendation to buy or sell, nor investment advice. Metrics labelled “forward” are our own unverified estimates. Please verify with the original DART filings and decide at your own responsibility.
30-second brief
Pulled directly from the computed values below — not a separately written opinion.
What do the SourceComputedEstimateReading tags mean?
Source filings and exchange data · Computed calculated from public data · Estimate our own unverified projection · Reading drafted automatically, then rule-checked. See AI & Automation.
Core valuation metric
This stock's effective sub-sector is “Holding Companies”, a type typically read first through discount to NAV.
A holding company is less a maker of products than a vessel that holds stakes in several subsidiaries. So rather than an earnings multiple, the first lens is the discount to NAV — the market value against the summed worth of everything it owns.
Price against assets alone says little about where the cycle stands. Reading it together with price against this year's expected earnings shows how far profits have recovered.
This note explains how each sector is typically valued and is educational context only, not investment advice.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt ratio, current ratio and interest burden all look healthy.
- Revenue rose 16.2% year over year, and the pace is quickening (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 20.6% higher than a year earlier.
- ROE is 13.3% (controlling-interest basis). It is above the sector average.
- Operating margin is 10.4%.
- Valued against the net asset value (NAV) of its listed holdings rather than a consolidated P/E — see the in-depth valuation for the detailed basis.
Ownership & governance As of 2025-12-31
Largest shareholder Kim Young-dal 34.05% (individual)
Controlling bloc incl. related parties 54.85%
With the controlling bloc holding 55%, control is very secure but the free float is thin.
Net asset value (NAV) assessment 34% discount to NAV
💡 How to read a holding company · A holding company owns stakes in several subsidiaries. Its P/E swings with equity-method gains and losses on those stakes, so read it only as a rough guide. P/B is more meaningful because subsidiary stakes sit in equity, but book value carries them at low historical cost (so P/B looks higher than reality). The most accurate view is the price against the market value of those stakes (NAV) ↓
Valued against the net asset value (NAV) of its listed holdings rather than a consolidated P/E — see the in-depth valuation for the detailed basis.
Listed subsidiaries ownership
| IDIS | 46.64% |
| Bixolon | 42.66% |
| Kortek | 38.47% |
🔎 In-depth analysis Reading
IDIS Holdings, rather than making products itself, is a holding company that controls several manufacturing subsidiaries. Its core subsidiaries are IDIS, a video-surveillance specialist (CCTV cameras and the NVR/DVR equipment that stores and manages video), Bixolon, which makes receipt and label printers, and Kortek, which makes industrial monitors for casinos and gaming machines. It earns money broadly along two lines. One is the revenue from its subsidiaries selling equipment, which is booked on a consolidated basis, and the other is the dividends it receives on the subsidiary stakes it holds. Most of the ₩908.1 billion in annual consolidated revenue comes from these subsidiaries' product sales, and being spread across the different downstream markets of security, printers and displays, the structure keeps the whole from collapsing together even if one field wobbles.
The latest close is ₩14,650 and the market capitalization is ₩151.6 billion. The price sits above its 20-day moving average (₩14,474) and above its 60-day moving average (₩14,561). 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 52.9, a neutral level. The one-month change is +4.3%, the three-month change is -8.0%, and the position relative to the 52-week high is -12.1%. Relative strength versus the KOSDAQ is 83 (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 83% of all stocks. Over the past three months it outpaced the index by 41.4%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Annual revenue was ₩908.1 billion, operating profit ₩89.7 billion and net profit ₩39.1 billion, for an operating margin of 9.9% and an ROE (how much is earned in a year on equity) of 10.5%. The ROE is at a healthy level above the peer average. The P/E (how many times a year's profit the share price represents) is 3.88x and the P/B (how many times book value the share price represents) is 0.39x, both far below the market average. A P/B below half of book value and a P/E in the low single digits are low figures for a company whose profit is growing, closer to a signal of undervaluation than a burden. The debt ratio is 227.8%, high on the number alone, but with a current ratio of 369.6% the assets that can be paid in the short term far exceed the debt due, and with an interest coverage ratio of 3.69x there is no trouble servicing the debt. It should also be viewed together that, given the holding-company nature, subsidiary debt is summed on a consolidated basis so the ratio looks larger.
The top line and profit are growing together, and increasingly fast. Revenue rose from ₩748.6 billion in 2023 to ₩781.4 billion in 2024 to ₩908.1 billion in 2025, with the year-on-year growth rate steepening from +4.4% to +16.2%. Operating profit rose ₩44.7 billion → ₩63.1 billion → ₩89.7 billion over the same period, keeping up growth in the 40% range each year, and net profit grew in the high 30% range, ₩20.9 billion → ₩28.5 billion → ₩39.1 billion. This flow became clearer entering 2026. First-quarter revenue was ₩244.6 billion, up +20.6% year on year, operating profit ₩27.7 billion (+46.7%), and net profit ₩29.4 billion (+72.3%). This means security-equipment demand and improving product mix at the subsidiaries are lifting the profit growth rate above the revenue growth rate, showing the company is translating top-line growth into profit well. If this trend continues, this year's annual operating profit could reach around ₩115.2 billion and net profit around ₩90.7 billion, in which case the earnings-based valuation points to the current price being very low relative to what the company earns in a year. No basis was found that profit next year or beyond would fall below this year's.
On February 13, 2026, a disclosure of the annual earnings change (revenue ₩908.1 billion, operating profit ₩89.7 billion, net profit ₩39.1 billion) came together with a cash-dividend decision disclosure. With a cash return decided alongside in a year of rising results, it is worth checking together whether earnings strength and cash flow support the return. Then the May 15 quarterly report confirmed first-quarter 2026 results (revenue ₩244.6 billion, operating profit ₩27.7 billion, net profit ₩29.4 billion), showing that the early-year growth direction is continuing into quarterly results. Checking, through the disclosure flow and the IR calendar, whether this increase is a one-off or a trend is the key.
The strengths are clear. The earnings of subsidiaries whose downstream markets are spread across security, printers and displays are rising every year, and while the pace of that growth is quickening, the share price has instead pulled back, leaving the low valuation of a P/E of 3.59x and a P/B of 0.38x. The value of its listed-subsidiary stakes alone is about ₩221.8 billion, above the ₩140.2 billion market cap, a zone where the whole company trades below the value of the subsidiary stakes. Holding companies typically take a 30-50% discount, so the roughly 34% discount itself is not abnormal, but within that discount the core subsidiaries are all in undervalued territory and their profits are rising, which provides support. Parts to view carefully are that, under a holding-company structure, its earnings hinge on subsidiary results and dividends, that the consolidated debt ratio reads high, and that with a small market cap, trading is thin and a single disclosure can swing the price sharply. In sum, this is a structure where the undervaluation appeal stands out as long as subsidiary earnings growth continues, and a zone where that appeal fades if subsidiary results slow or return capacity weakens.
🔎 Valuation vs peers Fairly valued
A peer set of companies with a nearby market cap within the semiconductor fabless sector.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Jeju Semiconductor | 64.77x | 8.39x | 37.11% |
Within semiconductor fabless, we looked first at a public-data peer set with a nearby market cap. The current P/E (how many times a year's profit the share price represents) is 3.88x and the P/B (how many times book value the share price represents) is 0.39x. However, since smaller-cap stocks are strongly affected by earnings swings and financing disclosures, we did not draw firm conclusions from metrics based only on last year's confirmed results. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩1.0 trillion | ₩115.2 billion | ₩90.7 billion |
| Next quarter | Q2 2026 | ₩254.6 billion | ₩35.4 billion | ₩24.3 billion |
Price history Close · MA20 · MA60
The latest close is ₩14,650 and the market capitalization is ₩151.6 billion. The price sits above its 20-day moving average (₩14,474) and above its 60-day moving average (₩14,561). 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 52.9, a neutral level. The one-month change is +4.3%, the three-month change is -8.0%, and the position relative to the 52-week high is -12.1%. Relative strength versus the KOSDAQ is 83 (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 83% of all stocks. Over the past three months it outpaced the index by 41.4%. 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 +41.38% / 6M +69.38% / 12M +23.94%
Key metrics Computed vs whole-market median
Valuation
The P/E of 3.88x is below the whole-market median (12.97x). The P/B of 0.39x is below the whole-market median (0.84x). Both metrics are low versus peers, so the price is not expensive relative to earnings and assets. 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.
Intrinsic value (DCF estimate) Estimate
Model output — not a price target. This is what the formula returns under the assumptions below, not a view on where the share price should go.
DCF (discounted cash flow) estimate — discount rate 11.0%, initial growth 4.0%→terminal 2.0%, 10-yr forecast, free-cash-flow basis. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 13.3%, above the whole-market average (3.0%). The operating margin is 10.4%. The debt ratio is 93.6%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $525.9M | $548.9M | $637.9M | +16.22% ↑ faster |
| Operating profit | $31.4M | $44.4M | $63.0M | +42.13% ↑ faster |
| Net profit | $14.7M | $20.0M | $27.4M | +37.08% ↑ faster |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $382.4M | $614.0M | $525.9M | $548.9M | $637.9M |
| Operating profit | $13.6M | $66.2M | $31.4M | $44.4M | $63.0M |
| Net profit | $3.1M | $26.7M | $14.7M | $20.0M | $27.4M |
| Revenue CAGR | 4-yr avg 13.65% | ||||
Revenue rose 16.2% year over year (2023 ₩748.6 billion → 2024 ₩781.4 billion → 2025 ₩908.1 billion), and the three-year trend is 'rising'. The pace of growth also quickened from the prior year. Operating profit rose 42.1% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 13.7%. The two-year revenue CAGR is 10.1%. In the most recent quarter (Q1 2026), revenue was 20.6% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- ROE of 13.3% points to solid profitability.
- Revenue grew 16.2% year over year, a sign of growth.
- The balance sheet is stable in terms of debt and liquidity.
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
- 2026-02-13EarningsChange in revenue or profit/loss structure of 15% or more (for large corporations): annual revenue ₩908.1 billion, operating profit ₩89.7 billion, net profit ₩39.1 billionRecent confirmed or preliminary results. We check together whether they are in the same direction as the annual flow and whether any one-off factor is present. Source
- 2026-02-13UpdateCash/in-kind dividend decision: confirm the return termsA disclosure related to a cash return or a change in the share count. We check whether earnings strength and cash flow provide support. Source
- 2026-05-15EarningsQuarterly report (2026.03): Q1 2026 revenue ₩244.6 billion, operating profit ₩27.7 billion, net profit ₩29.4 billionRecent confirmed or preliminary results. We check together whether they are in the same direction as the annual flow and whether any one-off factor is present. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩14,650 | ₩14,650 | Confirmed | link |
| Latest quarterly results | revenue ₩244.6 billion, operating profit ₩27.7 billion | revenue ₩244.6 billion, operating profit ₩27.7 billion | Confirmed | link |
| Annual results | revenue ₩908.1 billion, operating profit ₩89.7 billion | revenue ₩908.1 billion, operating profit ₩89.7 billion | Confirmed | link |
| Results disclosure text | revenue30%: revenue ₩908.1 billion · operating profit ₩89.7 billion · net profit ₩39.1 billion | revenue30%: revenue ₩908.1 billion · operating profit ₩89.7 billion · net profit ₩39.1 billion | Confirmed | link |
| Shareholder-return disclosure text | cash/stock dividend declared: check the payout terms | cash/stock dividend declared: check the payout terms | Confirmed | link |
| Results disclosure text | (2026.03): 2026 1 revenue ₩244.6 billion · operating profit ₩27.7 billion · net profit ₩29.4 billion | (2026.03): 2026 1 revenue ₩244.6 billion · operating profit ₩27.7 billion · net profit ₩29.4 billion | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-15PeriodicQuarterly report
- 2026-03-26Disclosure
- 2026-03-26Shareholders' meeting notice
- 2026-03-18PeriodicAnnual business report
- 2026-03-13Audit report
- 2026-02-26Shareholders' meeting notice
- 2026-02-26Shareholders' meeting notice
- 2026-02-13DividendCash/stock dividend decision
- 2026-02-13EarningsEarnings filing
📖 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.