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iMarket Korea, Inc. (122900) AI Stock Analysis

KR:122900

iMarket Korea, Inc.

(Korea Exchange:122900)

Select Model
Rating:64Neutral
Price Target:KRW 8,795.00â–²(7.91% Upside)
Action:initiatedcoverage
Date:10/28/26

The score is driven primarily by mixed financial performance: improving revenue/profitability and a stable (though rising) leverage profile are offset by a sharp deterioration in free cash flow and ongoing thin margins. Valuation is supportive (low P/E and high dividend yield), while technicals indicate a modest uptrend with neutral momentum.

Positive Factors
Revenue rebound and improving profitabilityThe return to revenue growth after two years of declines indicates improving demand across the company’s procurement platform. Profitability also recovered from 2025 levels, providing a stronger base for reinvestment and demonstrating that earnings can improve as transaction activity expands.
Negative Factors
Structurally thin marginsVery thin margins leave limited protection when costs rise or transaction volumes weaken, making earnings sensitive to small changes in pricing and operating efficiency. The company therefore has less room than higher-margin businesses to absorb execution setbacks or fund expansion from retained profits.

iMarket Korea, Inc. (122900) vs. SPDR S&P 500 ETF (SPY)

-10%-5%0%5%10%15%20%KR:122900+12.64%SPY+11.79%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
KRW 257.38B
Dividend Yield
5.50%
Average Volume (3M)
67.77K
Price to Earnings (P/E)
8.7
Beta (1Y)
-0.01
Revenue Growth
10.99%
EPS Growth
0.37%
Country
KR
Employees
369
Sector
General
Sector Strength
55
Industry
Specialty Business Services

iMarket Korea, Inc. Business Overview & Revenue Model

Company Description

iMarketKorea Inc. is a prominent provider of industrial material distribution services, operating both domestically in South Korea and internationally. Its comprehensive service offerings encompass procurement solutions like purchasing agency, consul...

iMarket Korea, Inc. Financial Statement Overview

Summary

Revenue rebounded in TTM (+8.6%) and profitability improved versus 2025, but margins remain structurally very thin (gross ~4.4%–4.8%, net mostly <~1%). Balance sheet is reasonably stable with improved ROE (~8.2%), yet leverage has trended up (debt-to-equity ~0.53 vs ~0.19 in 2022). The biggest drag is cash-flow quality: free cash flow turned negative in TTM (~-22.4B) after being positive in 2025, indicating weak cash conversion and higher execution risk.

Income Statement

62Positive

Balance Sheet

70Positive

Cash Flow

44Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue3.42T3.05T3.32T3.43T3.59T3.13T
Gross Profit158.69B139.73B157.85B156.10B157.55B146.31B
EBITDA60.84B45.09B78.39B67.54B66.46B86.74B
Net Income30.83B20.95B26.95B15.13B22.22B38.17B
Balance Sheet
Total Assets1.49T1.36T1.28T1.37T1.22T1.12T
Cash, Cash Equivalents and Short-Term Investments167.10B211.56B196.53B242.72B223.84B211.31B
Total Debt206.59B170.06B157.20B139.44B68.23B55.64B
Total Liabilities1.06T942.02B865.27B973.35B814.78B703.39B
Stockholders Equity391.20B369.95B359.90B343.51B357.95B364.02B
Cash Flow
Free Cash Flow-22.42B32.49B-17.14B13.67B61.76B44.21B
Operating Cash Flow31.01B52.57B-2.40B90.29B81.32B54.17B
Investing Cash Flow-39.26B11.15B-19.98B-77.07B18.39B-30.09B
Financing Cash Flow-6.75B-41.23B-31.72B28.82B-32.91B-42.97B

iMarket Korea, Inc. Technical Analysis

Technical Analysis SentimentPositive
Last Price8150.00

Price Trends

50DMA8133.93Positive
100DMA7710.82Positive
200DMA7520.29Positive

Market Momentum

MACD10.96Positive
RSI51.70Neutral
STOCH50.00Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KR:122900, the sentiment is Positive. The current price of 8150.00 is below the 20-day moving average (MA) of 8180.50, above the 50-day MA of 8133.93, and above the 200-day MA of 7520.29, indicating a neutral trend. The MACD of 10.96 indicates Positive momentum. The RSI at 51.70 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KR:122900.

iMarket Korea, Inc. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

KR:122900 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
KR:122900KR:12290064NeutralKRW 257.38B8.70―5.50%10.99%0.37%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
KR:002320KR:00232050NeutralKRW 249.67B-22.52―3.61%6.55%-263.28%
KR:000680KR:00068045NeutralKRW 194.00B-36.53――179.08%85.08%
KR:377300KR:37730042NeutralKRW 4.58T52.18――33.93%1786.13%

* General Sector Average

Performance Comparison

0%50%KR:122900KR:000680KR:002320KR:036030KR:036800KR:377300Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
KR:122900 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
KR:122900iMarket Korea, Inc.8180.00908.8212.50%
KR:000680LS Networks Corporation Ltd.2640.00-925.00-25.95%
KR:002320HANJIN Logistics Corporation16600.00-2772.94-14.31%
KR:036030kt alpha Co., Ltd.4740.00-276.46-5.51%
KR:036800NICE Information & Telecommunication, Inc.7000.002699.6062.78%
KR:377300kakaopay Corp.33850.00-17950.00-34.65%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 28, 2026