Hyosung ITX runs contact centers (customer centers) on an outsourced basis, taking over and operating the phone and chat support of clients in telecom, finance, retail and other sectors and collecting a fee. Because this is a labor-intensive service with heavy staffing, revenue is steady with few large swings while profit moves with labor costs and contract-rate management. Last year's full-year revenue was ₩519.0 billion, operating profit ₩19.0 billion and net profit ₩15.5 billion, and preliminary Q1 2026 results showed revenue of ₩130.3 billion, operating profit of ₩3.4 billion and net profit of ₩2.5 billion, revenue up but profit down from a year earlier; in March the company voluntarily disclosed a corporate value-up plan. The point worth watching now: ROE of 20.6%, a 6.4% dividend yield and a P/E of 8.75x on last year's earnings make stable cash flow and a high dividend the strengths, but because profit took a pause in Q1 and the P/E on this year's expected earnings prints at 13.4x, it is worth confirming whether the margin climbs back.
At-a-glance assessment financial health · growth · profitability · valuation
- Revenue rose 2.5% year over year, and the pace is quickening (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 6.7% higher than a year earlier.
- ROE is 20.6% (controlling-interest basis). It is above the sector average.
- Operating margin is 3.6%.
Ownership & governance As of 2025-12-31
Largest shareholder Cho Hyun-joon 35.26% (individual)
Controlling bloc incl. related parties 74.9%
With the controlling bloc holding 75%, control is very secure but the free float is thin.
🔎 In-depth analysis
- Hyosung ITX's main line is running clients' customer centers (contact centers, i.e. call and consultation centers) on their behalf.
- It takes over and handles the phone and chat support of clients in telecom, finance, retail and the like, and collects a fee in return.
- Because this is a labor-intensive service with heavy staffing, revenue is fairly steady with few large swings, while profit moves with labor costs and contract-rate management.
- Last year's full-year revenue was ₩519.0 billion, with contact-center operation the company's core revenue source.
- As a small-to-mid-cap with a ₩135.2 billion market cap, it is worth watching, alongside the business's inherent stability, the impact each new disclosure has on results and the share price.
- The latest close is ₩11,780 and the market cap is ₩136.2 billion.
- The price sits below its 20-day line (₩11,974) and below its 60-day line (₩12,380).
- Trading beneath both its short- and medium-term moving averages, the trend is on the soft side.
- The RSI (a supplementary gauge comparing upward and downward strength over the past 14 days on a 0-100 scale) is 39.2, a neutral level.
- The one-month change is -2.2%, the three-month change is -4.0%, and the price sits -16.1% from its 52-week high.
- Relative strength versus the KOSPI is 24 (on a 1-99 scale that converts return against the index over the past year while weighting recent performance more heavily; higher means stronger than the market).
- That places it roughly in the top 76% of all stocks for strength.
- Over the past three months it lagged the index by 23.3%.
- Chart reading is best done alongside volume and disclosure dates.
- Last year's full-year revenue was ₩519.0 billion, operating profit ₩19.0 billion and net profit ₩15.5 billion.
- The operating margin of 3.6% is not high, as is typical for outsourced call-center operation, but ROE (a profitability measure of how much the company earns in a year on its own equity) of 20.6% is clearly superior to peers.
- This company's strengths are that it turns capital efficiently into profit and returns more than half of what it earns as dividends (a 57.8% payout ratio).
- The dividend yield is high at 6.4%.
- On last year's earnings the P/E (the share price as a multiple of one year's earnings) is 8.81x, a level the market prices cheaply, and P/B (the share price as a multiple of book value) is 1.81x.
- The debt ratio is 160%, but most of that is lease-liability in nature from renting call-center offices, and with interest coverage (how many times operating profit can pay interest) of 12x, there is no trouble handling the interest burden.
- Revenue rose a little each year, from ₩503.8 billion in 2023 to ₩506.4 billion in 2024 to ₩519.0 billion in 2025, and Q1 revenue this year was also up 6.7% year over year, so top-line growth is holding.
- Net profit jumped 31% last year, a large one-year recovery.
- In Q1 this year, however, operating profit fell 9.3% and net profit 21.6% from the same period a year earlier, so the earnings uptrend is pausing for now.
- Full-year operating profit this year is expected around ₩14.4 billion, net profit around ₩10.1 billion and revenue around ₩535.0 billion, putting the forward P/E on that basis at 13.49x.
- This is a year in which revenue grows but profit does not come through at last year's level, so it is a stretch in which to watch how rising labor costs and contract-rate adjustments affect the margin.
- For profit to climb back to last year's level, a recovery in rate-negotiating power or improved operating efficiency needs to support it.
- Recent disclosures center on materials the company itself put out.
- On March 27, 2026, it announced a corporate value-up plan (voluntary disclosure), setting out the direction the company itself proposes for dividends and shareholder returns.
- In the April 24 preliminary Q1 disclosure, it reported revenue of ₩130.3 billion, operating profit of ₩3.4 billion and net profit of ₩2.5 billion; revenue was up but profit was down from a year earlier, showing the starting point of this year's earnings trend.
- On January 23, there was a profit-structure change disclosure carrying last year's confirmed full-year results (revenue ₩519.0 billion, operating profit ₩19.0 billion, net profit ₩15.5 billion).
- The key is to check each quarter whether the results and plan disclosures the company puts out translate into actual profit and dividends.
- This is a stock with clear strengths.
- Profitability is good with ROE of 20.6%, it returns more than half of what it earns as dividends for a 6.4% yield, and on last year's earnings the P/E of 8.75x makes the valuation cheap too.
- Revenue also grows a little each year, so the top line is not shaky.
- The structure suits investors drawn by stable cash flow and a high dividend.
- What to weigh, on the other hand, is the direction of profit.
- With Q1 operating profit and net profit down from a year earlier, last year's earnings recovery is taking a pause, and as a result the P/E on this year's expected earnings prints at 13.4x, higher than on last year's basis.
- In short, from a viewpoint that prizes the stability of dividends and cash generation the strengths are clear, while from a viewpoint expecting an acceleration in near-term earnings growth, it is worth confirming whether the margin that softened in Q1 climbs back.
🔎 Valuation vs peers Fairly valued
Peers with adjacent market capitalizations within the business-support and leasing-services sector.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Korea Credit Information Services | 10.14x | 2.14x | 21.06% |
| Red Cap Tour | 7.05x | 0.83x | 11.77% |
| Modetour | 17.55x | 1.67x | 9.52% |
We looked first at public-data peers with nearby market capitalizations within business-support and leasing services. The current P/E (the share price as a multiple of one year's earnings) is 8.81x and P/B (the share price as a multiple of book value) is 1.81x. That said, smaller-cap names are heavily affected by earnings swings and financing disclosures, so we did not draw firm conclusions from last year's confirmed-earnings ratios 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 | ₩535.0 billion | ₩14.4 billion | ₩10.1 billion |
| Next quarter | Q2 2026 | ₩129.8 billion | ₩3.5 billion | ₩2.5 billion |
Price history Close · MA20 · MA60
The latest close is ₩11,780 and the market capitalization is ₩136.2 billion. The price sits below its 20-day moving average (₩11,974) and below its 60-day moving average (₩12,380). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 39.2, a neutral level. The one-month change is -2.2%, the three-month change is -4.0%, and the position relative to the 52-week high is -16.1%. Relative strength versus the KOSPI is 24 (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 24% of all stocks. Over the past three months it lagged the index by 23.3%. 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 -23.31% / 6M -41.47% / 12M -62.60%
Key metrics vs sector median
Valuation
The P/E of 8.81x is below the sector median (16.27x). The P/B of 1.81x is in line with the sector median (1.98x).
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 9.2%, initial growth 2.0%→terminal 2.0%, 10-yr forecast, free-cash-flow basis, forward earnings power normalized 0.653x. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 20.6%, above the sector average (15.0%). The operating margin is 3.6%. The debt ratio is 160.0%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $333.9M | $335.6M | $344.0M | +2.50% ↑ faster |
| Operating profit | $12.7M | $12.4M | $12.6M | +1.12% ↑ faster |
| Net profit | $9.7M | $7.8M | $10.2M | +31.32% ↑ faster |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $315.4M | $338.9M | $333.9M | $335.6M | $344.0M |
| Operating profit | $13.4M | $14.8M | $12.7M | $12.4M | $12.6M |
| Net profit | $9.5M | $9.9M | $9.7M | $7.8M | $10.2M |
| Revenue CAGR | 4-yr avg 2.19% | ||||
Revenue rose 2.5% year over year (2023 ₩503.8 billion → 2024 ₩506.4 billion → 2025 ₩519.0 billion), and the three-year trend is 'rising'. The pace of growth also quickened from the prior year. Operating profit rose 1.1% year over year. Profit is growing at an accelerating pace. Over the 5 years on record, revenue compound annual growth (CAGR) is 2.2%. The two-year revenue CAGR is 1.5%. In the most recent quarter (Q1 2026), revenue was 6.7% higher than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- The dividend yield, at 6.4%, is on the high side.
- ROE of 20.6% points to solid profitability.
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
- 2026-03-27UpdateCorporate value-up plan (voluntary disclosure) (corporate value-up plan (voluntary disclosure) (2026)): confirm the company's plan source textThis is a planning document the company itself presented. If it contains figures, treat them as the primary basis for the outlook box; if not, treat it only as directional material. Source
- 2026-04-24EarningsOperating (preliminary) results on a consolidated basis (fair disclosure): Q1 2026 revenue ₩130.3 billion, operating profit ₩3.4 billion, net profit ₩2.5 billionThis is recent confirmed or preliminary results. Check whether it points the same way as the annual trend and whether any one-off factors are involved. Source
- 2026-01-23EarningsRevenue or profit-structure change of 30% or more (15% for large corporations): full-year revenue ₩519.0 billion, operating profit ₩19.0 billion, net profit ₩15.5 billionThis is recent confirmed or preliminary results. Check whether it points the same way as the annual trend and whether any one-off factors are involved. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩11,780 | ₩11,780 | Confirmed | link |
| Latest quarterly results | revenue ₩130.3 billion, operating profit ₩3.4 billion | revenue ₩130.3 billion, operating profit ₩3.4 billion | Confirmed | link |
| Full-year results | revenue ₩519.0 billion, operating profit ₩19.0 billion | revenue ₩519.0 billion, operating profit ₩19.0 billion | Confirmed | link |
| Outlook/plan disclosure source text | ): | ): | Confirmed | link |
| Results disclosure source text | : 2026 1 revenue ₩130.3 billion · operating profit ₩3.4 billion · net profit ₩2.5 billion | : 2026 1 revenue ₩130.3 billion · operating profit ₩3.4 billion · net profit ₩2.5 billion | Confirmed | link |
| Results disclosure source text | revenue30%: revenue ₩519.0 billion · operating profit ₩19.0 billion · net profit ₩15.5 billion | revenue30%: revenue ₩519.0 billion · operating profit ₩19.0 billion · net profit ₩15.5 billion | Confirmed | link |
| Outlook-box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-06-01Corporate governance report
- 2026-06-01Large-business-group status disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-05-11Disclosure
- 2026-04-24DividendCash/stock dividend decision
- 2026-04-24EarningsFair-disclosure notice
- 2026-03-27Disclosure
- 2026-03-26Shareholders' meeting notice
- 2026-03-18PeriodicAnnual business report
- 2026-03-13Disclosure
- 2026-03-12Audit report
- 2026-03-05Disclosure
📖 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.