Incar Financial Service

인카금융서비스 · 211050

Financials Insurance · KOSDAQ

Small-cap

Market cap US$341.3M (₩471B)

Overview

Incar Financial Service helps consumers find and purchase insurance policies by comparing products from dozens of Korean life and non-life insurers, then connecting them with independent insurance agents, acting as a general insurance agency, or GA, which operates independently of any single insurer.

It is listed on KOSDAQ, Korea's tech and small-cap board. Its core earnings come from the spread between commissions received from insurers for new policy sales and ongoing contract management, and the commissions it pays out to its network of agents.

Summary is AI-generated and may contain errors · figures from DART filings

Financials

Source: DART · FY ending Dec · latest FY2025

Revenue · FY2025

US$740.4M

▲ +22.8% YoY

Operating profit · FY2025

US$68.7M

▲ +9.9% YoY

Net income · FY2025

US$51.4M

▲ +14.4% YoY

Revenue, operating profit and net income by fiscal year (USD; KRW in parentheses).
Metric	FY2023	FY2024	FY2025
Revenue	US$403.5M(₩556.8B)	US$603.1M(₩832.3B)	US$740.4M(₩1T)
Operating profit	US$33.8M(₩46.6B)	US$62.5M(₩86.3B)	US$68.7M(₩94.8B)
Net income	US$21.4M(₩29.5B)	US$44.9M(₩62B)	US$51.4M(₩71B)

Revenue

FY2023US$403.5M
FY2024US$603.1M
FY2025US$740.4M

Operating profit

FY2023US$33.8M
FY2024US$62.5M
FY2025US$68.7M

Net income

FY2023US$21.4M
FY2024US$44.9M
FY2025US$51.4M

Key ratios (FY2025)

ROE

33.1%

Debt/Eq

367.0%

Op. margin

9.3%

Net margin

6.9%

Rev. YoY

▲ +22.8%

Why it matters

As a licensed GA, Incar is regulated under Korea's Insurance Business Act and the Financial Consumer Protection Act, with oversight from the Financial Supervisory Service.

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