Infinitt Healthcare earns money from PACS software that lets medical images such as X-ray, CT, and MRI be digitally stored, read, and managed. With entities in North America, Taiwan, Japan, Shanghai, and Europe, it sells and services directly to overseas medical institutions as well, so a substantial part of revenue comes from abroad. A March 2026 earnings disclosure confirmed annual revenue of ₩102.4 billion, operating profit of ₩14.2 billion, and net profit of ₩26.4 billion, while legal proceedings tied to management control and shareholder rights, such as an appeal on a petition to convene an extraordinary shareholders' meeting and the withdrawal of an injunction to inspect accounting books, were under way. The notable point is that if this year's profit growth continues and the dispute is resolved without a large burden on the business, a 25.8% net margin and 13.8% ROE, along with the undervaluation appeal of a 0.67x P/B and a 3.2% dividend, come alive; but if the quarterly earnings improvement stalls or governance uncertainty drags on, that appeal can be obscured.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt ratio, current ratio and interest burden all look healthy.
- Revenue rose 6.9% year over year, and the pace is slowing (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 31.1% higher than a year earlier.
- ROE is 13.8% (controlling-interest basis). It is above the sector average.
- Operating margin is 13.9%.
- The P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Solborn 48.66% (corporate)
Controlling bloc incl. related parties 50.49%
With the controlling bloc holding 50%, control is very secure but the free float is thin.
🔎 In-depth analysis
- Infinitt Healthcare earns money from medical-imaging software used in hospitals.
- Its core product is PACS (a system that digitally stores medical images such as X-ray, CT, and MRI, lets doctors call them up on a computer to read, and manages them by patient).
- Besides the head office, it has entities in North America, Taiwan, Japan, Shanghai, and Europe, and it sells and services directly not only to domestic hospitals but also to overseas medical institutions, so a substantial part of revenue comes from abroad.
- By industry classification it is grouped under games and software, but its actual business is concentrated in the single field of medical software.
- Its market cap is not large, so it helps to view the impact each disclosure has on the share price alongside the flow of results.
- The latest close is ₩7,910 and market capitalization is ₩193.0 billion.
- The price sits above its 20-day line (₩6,932) and above its 60-day line (₩7,164).
- Being above both its short- and medium-term moving averages, the trend looks healthy.
- The RSI (a supplementary gauge comparing upward and downward momentum over the past 14 days on a 0-100 scale) is 64.3, a neutral level.
- The 1-month change is +9.4%, the 3-month change is +30.3%, and it stands -10.5% below its 52-week high.
- Relative strength versus KOSDAQ is 90 (1-99, converting the past year's return against the index with more weight on recent performance; higher means stronger than the market).
- It sits in roughly the top 9% of all stocks by strength.
- Over the past three months it led the index by 73.2%.
- Chart interpretation is best done alongside trading volume and disclosure dates.
- Recent annual revenue is ₩102.4 billion, operating profit ₩14.2 billion, and net profit ₩26.4 billion.
- The operating margin is 13.9% and the net margin 25.8%, thick margins befitting a software company, and ROE (how much it earns in a year on shareholders' equity) is 13.8%, above the peer average.
- The debt ratio is 129.8%, but with a current ratio of 555% and an interest-coverage ratio of 13.4x, the financial structure has no trouble repaying debt and covering interest.
- On the metrics, the P/E is 5.73x and the P/B is 1.01x, but these values are based on last year's confirmed results.
- This year is an inflection stretch in which profit grows sharply, so a forward P/E reflecting this year's profit shows the company's actual value better than a P/E and P/B computed from last year's figures.
- That forward P/E is lower than profit-making comparables in the same industry, which reads as an undervaluation signal that the price is cheap relative to earnings.
- Revenue rose steadily from ₩78.2 billion in 2021 to ₩102.4 billion in 2025, and operating profit nearly doubled over the same period from ₩7.4 billion to ₩14.2 billion.
- In particular, Q1 2026 revenue was ₩32.1 billion, up 31.1% year on year, while operating profit was ₩9.5 billion, a jump of 232.7%.
- That quarterly revenue rose double digits while operating profit swelled far faster means the software-business trait, where additional costs do not rise much once revenue passes a certain scale, is now showing in earnest.
- This year's outlook (revenue of about ₩142.2 billion, net profit of about ₩44.3 billion) and the forward P/E are values derived from this clearly improved quarterly trend and from expanding overseas-hospital demand and export share.
- This is not simply extrapolating one quarter's surprise result, but a picture reflecting a structural change in which revenue growth and margin improvement appear together.
- The most recent earnings disclosure (2026-03-13) confirmed annual revenue of ₩102.4 billion, operating profit of ₩14.2 billion, and net profit of ₩26.4 billion.
- It helps to view together whether these are in the same direction as the annual trend and whether any one-off factors are mixed in.
- Meanwhile, legal proceedings related to management control and shareholder rights were under way, such as an appeal on a petition to convene an extraordinary shareholders' meeting (2026-04-22) and the withdrawal of an injunction to inspect and copy accounting books (2026-06-10).
- Because such disputes concern governance and decision-making rather than the business's own profit and loss, it helps to check how much they affect company operations through the amounts, the stage of proceedings, and subsequent disclosures.
- The strengths are clear.
- In the stable business of medical-imaging software, profitability is good with a 25.8% net margin and 13.8% ROE, and the financials are solid with an ample current ratio and interest-coverage ratio.
- In Q1 this year both revenue and operating profit rose sharply, showing profit passing an inflection point, and as a result, at a 0.67x P/B it sits cheaper than profit-making peers in the same industry.
- The dividend yield is also high at 3.2%, so the burden of waiting is small.
- On the other side, points to watch are that legal proceedings over management control and shareholder rights are under way, and that with a modest market cap a single disclosure has a relatively large effect on the share price.
- In sum, in a flow where this year's profit growth continues and the dispute is resolved without a large burden on the business, the undervaluation appeal comes alive; in a flow where the quarterly earnings improvement stalls or governance uncertainty drags on, that appeal can be obscured.
🔎 Valuation vs peers Undervalued
Public-data comparables within games and software that are adjacent in market capitalization.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| S2W | — | 4.46x | -22.88% |
| Konan Technology | — | 4.66x | -32.77% |
| GC MediEye | 4.18x | 1.09x | 26.12% |
Within games and software, public-data comparables close in market capitalization were viewed first. The current P/E (how many times a year's profit the price represents) is 7.31x and the P/B (how many times book value the price represents) is 1.01x. That said, for lower-market-cap names the impact of earnings swings and funding disclosures is large, so no conclusion was drawn from last-year-confirmed-results metrics alone. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩142.2 billion | — | ₩44.3 billion |
| Next quarter | Q2 2026 | ₩35.1 billion | — | ₩10.6 billion |
Price history Close · MA20 · MA60
The latest close is ₩7,910 and the market capitalization is ₩193.0 billion. The price sits above its 20-day moving average (₩6,932) and above its 60-day moving average (₩7,164). 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 64.3, a neutral level. The one-month change is +9.4%, the three-month change is +30.3%, and the position relative to the 52-week high is -10.5%. Relative strength versus the KOSDAQ is 90 (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 91% of all stocks. Over the past three months it outpaced the index by 73.2%. 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 +73.16% / 6M +62.52% / 12M +20.66%
Key metrics vs sector median
Valuation
The P/E of 7.31x is below the sector median (13.30x). The P/B of 1.01x is below the sector median (1.58x). 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)
DCF (discounted cash flow) estimate — discount rate 10.7%, 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 13.8%, above the sector average (5.0%). The operating margin is 13.9%. The debt ratio is 129.8%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $56.9M | $63.5M | $67.9M | +6.94% ↓ slower |
| Operating profit | $2.6M | $5.1M | $9.4M | +84.05% ↓ slower |
| Net profit | $10.9M | $25.1M | $17.5M | -30.14% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $51.8M | $58.5M | $56.9M | $63.5M | $67.9M |
| Operating profit | $4.9M | $5.1M | $2.6M | $5.1M | $9.4M |
| Net profit | $15.0M | $87,200 | $10.9M | $25.1M | $17.5M |
| Revenue CAGR | 4-yr avg 6.98% | ||||
Revenue rose 6.9% year over year (2023 ₩85.9 billion → 2024 ₩95.8 billion → 2025 ₩102.4 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit rose 84.0% year over year. The pace of that profit growth is gradually easing. Over the 5 years on record, revenue compound annual growth (CAGR) is 7.0%. The two-year revenue CAGR is 9.2%. In the most recent quarter (Q1 2026), revenue was 31.1% higher than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
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.
- ROE of 13.8% points to solid profitability.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- Revenue rose 6.9% year over year, and the pace is slowing (3-year trend: rising).
Recent news & events searched · sourced
- 2026-03-13EarningsChange of 30% or more (15% for large corporations) in revenue or profit-and-loss structure: annual revenue ₩102.4 billion, operating profit ₩14.2 billion, net profit ₩26.4 billionThe most recent confirmed or preliminary results. Check whether they are in the same direction as the annual trend and whether any one-off factors are present. Source
- 2026-06-10UpdateJudgment/decision in litigation (withdrawal of an injunction to inspect and copy accounting books, etc.): judgment/decision in litigation / (2026.06.10) judgment/decision in litigation (withdrawal of an injunction to inspect and copy accounting books, etc.); judgment/decision in litigation 1. Name of case: injunction to inspect and copy accounting books, etc. Case number 2026-Kahap-1025 2. Plaintiff/petitioner: Heo and 9 others 3. Content of judgment/decision: the above caseIt could lead to a non-financial burden or reputational risk. The amounts, the stage of proceedings, and subsequent disclosures should be checked. Source
- 2026-04-22UpdateJudgment/decision in litigation (management-control litigation (appeal on a petition to convene an extraordinary shareholders' meeting)): judgment/decision in litigation / (2026.04.22) judgment/decision in litigation (management-control litigation (appeal on a petition to convene an extraordinary shareholders' meeting)); judgment/decision in litigation 1. Name of case: petition to convene an extraordinary shareholders' meeting (appeal) Case number 2025-Ra-3625 2. Plaintiff/petitioner: Lee and 19 others 3. Judgment/decisionIt could lead to a non-financial burden or reputational risk. The amounts, the stage of proceedings, and subsequent disclosures should be checked. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩7,910 | ₩7,910 | Confirmed | link |
| Latest quarterly results | revenue ₩32.1 billion, operating profit ₩9.5 billion | revenue ₩32.1 billion, operating profit ₩9.5 billion | Confirmed | link |
| Annual results | revenue ₩102.4 billion, operating profit ₩14.2 billion | revenue ₩102.4 billion, operating profit ₩14.2 billion | Confirmed | link |
| Earnings disclosure original text | revenue30%: revenue ₩102.4 billion · operating profit ₩14.2 billion · net profit ₩26.4 billion | revenue30%: revenue ₩102.4 billion · operating profit ₩14.2 billion · net profit ₩26.4 billion | Confirmed | link |
| Risk disclosure original text | ㆍ: ㆍ/(2026.06.10)ㆍ ㆍ 1. 20261025 ₩2.ㆍ 0 9 3. ㆍ | ㆍ: ㆍ/(2026.06.10)ㆍ ㆍ 1. 20261025 ₩2.ㆍ 0 9 3. ㆍ | Confirmed | link |
| Risk disclosure original text | ㆍ): ㆍ/(2026.04.22)ㆍ) ㆍ 1. 20253625 ₩2.ㆍ 00 19 3. ㆍ | ㆍ): ㆍ/(2026.04.22)ㆍ) ㆍ 1. 20253625 ₩2.ㆍ 00 19 3. ㆍ | Confirmed | link |
| Outlook-box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-06-10Litigation disclosure
- 2026-05-14PeriodicQuarterly report
- 2026-05-04Dividend disclosure
- 2026-04-22Litigation disclosure
- 2026-04-20DividendCash/stock dividend decision (amended)
- 2026-04-20DividendCash/stock dividend decision
- 2026-03-31OwnershipOfficers'/major-shareholders' holdings report
- 2026-03-30Shareholders' meeting notice
- 2026-03-20Audit report
- 2026-03-20PeriodicAnnual business report
- 2026-03-20PeriodicAnnual business report (amended)
- 2026-03-20Audit report (amended)
📖 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.