Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩24,800, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the Building industry in Asia. Total returns to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩32,900, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Building industry in Asia. Total returns to shareholders of 132% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩54,609 per share. Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩30,800, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Building industry in Asia. Total returns to shareholders of 139% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩53,772 per share. Major Estimate Revision • May 12
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from ₩1,625 to ₩1,444 per share. Revenue forecast steady at ₩277.9m. Net income forecast to grow 11% next year vs 22% growth forecast for Building industry in South Korea. Consensus price target down from ₩39,750 to ₩37,500. Share price fell 21% to ₩36,550 over the past week. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩38,600, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 20x in the Building industry in Asia. Total returns to shareholders of 192% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩40,001 per share. Buy Or Sell Opportunity • Apr 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 52% to ₩48,300. The fair value is estimated to be ₩40,015, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.5% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 67% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩47,550, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 19x in the Building industry in Asia. Total returns to shareholders of 300% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩40,016 per share. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩39,600, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 19x in the Building industry in Asia. Total returns to shareholders of 234% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩40,288 per share. Announcement • Mar 12
Sung Kwang Bend Co.,Ltd., Annual General Meeting, Mar 27, 2026 Sung Kwang Bend Co.,Ltd., Annual General Meeting, Mar 27, 2026, at 10:00 Tokyo Standard Time. Location: auditorium, 26, noksansandan 262-ro, gangseo-gu, busan South Korea Major Estimate Revision • Mar 08
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₩293.1m to ₩251.7m. EPS estimate fell from ₩1,963 to ₩1,595 per share. Net income forecast to grow 27% next year vs 24% growth forecast for Building industry in South Korea. Consensus price target of ₩37,000 unchanged from last update. Share price fell 3.4% to ₩33,800 over the past week. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩40,000, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Building industry in Asia. Total returns to shareholders of 201% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩20,575 per share. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩32,750, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 19x in the Building industry in Asia. Total returns to shareholders of 160% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩20,578 per share. Reported Earnings • Nov 20
Third quarter 2025 earnings released: EPS: ₩406 (vs ₩151 in 3Q 2024) Third quarter 2025 results: EPS: ₩406 (up from ₩151 in 3Q 2024). Revenue: ₩64.6b (up 42% from 3Q 2024). Net income: ₩10.8b (up 160% from 3Q 2024). Profit margin: 17% (up from 9.1% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Building industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Major Estimate Revision • Sep 10
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩271.5m to ₩254.0m. EPS estimate also fell from ₩1,945 per share to ₩1,638 per share. Net income forecast to grow 89% next year vs 34% growth forecast for Building industry in South Korea. Consensus price target up from ₩34,180 to ₩36,580. Share price rose 2.0% to ₩35,300 over the past week. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (9.4% average weekly change). New Risk • Aug 29
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 12% Last year net profit margin: 18% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Profit margins are more than 30% lower than last year (12% net profit margin). Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩33,250, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Building industry in Asia. Total returns to shareholders of 109% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩32,621 per share. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩34,050, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Building industry in Asia. Total returns to shareholders of 237% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩29,850 per share. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩27,650, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Building industry in Asia. Total returns to shareholders of 192% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩30,926 per share. Major Estimate Revision • Apr 05
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from ₩254.0m to ₩263.3m. EPS estimate increased from ₩1,658 to ₩1,848 per share. Net income forecast to grow 26% next year vs 24% growth forecast for Building industry in South Korea. Consensus price target broadly unchanged at ₩29,740. Share price was steady at ₩24,550 over the past week. Reported Earnings • Mar 25
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₩1,494 (up from ₩1,402 in FY 2023). Revenue: ₩227.7b (down 11% from FY 2023). Net income: ₩41.0b (up 4.7% from FY 2023). Profit margin: 18% (up from 15% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 13
Sung Kwang Bend Co.,Ltd., Annual General Meeting, Mar 28, 2025 Sung Kwang Bend Co.,Ltd., Annual General Meeting, Mar 28, 2025, at 10:00 Tokyo Standard Time. Location: auditorium, 26, noksansandan 262-ro, gangseo-gu, busan South Korea Major Estimate Revision • Mar 07
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩276.8m to ₩254.0m. EPS estimate also fell from ₩2,192 per share to ₩1,658 per share. Net income forecast to grow 20% next year vs 23% growth forecast for Building industry in South Korea. Consensus price target up from ₩20,050 to ₩27,940. Share price rose 2.7% to ₩28,550 over the past week. Price Target Changed • Mar 04
Price target increased by 18% to ₩23,440 Up from ₩19,900, the current price target is an average from 5 analysts. New target price is 19% below last closing price of ₩29,000. Stock is up 165% over the past year. The company is forecast to post earnings per share of ₩1,678 for next year compared to ₩1,402 last year. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩29,150, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Building industry in Asia. Total returns to shareholders of 263% over the past three years. New Risk • Dec 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (8.8% average weekly change). Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₩20,350, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 15x in the Building industry in Asia. Total returns to shareholders of 154% over the past three years. New Risk • Nov 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 9.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩14,720, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 16x in the Building industry in Asia. Total returns to shareholders of 78% over the past three years. Price Target Changed • Aug 13
Price target increased by 17% to ₩18,700 Up from ₩15,960, the current price target is an average from 5 analysts. New target price is 22% above last closing price of ₩15,300. The company is forecast to post earnings per share of ₩1,800 for next year compared to ₩1,402 last year. Major Estimate Revision • Aug 12
Consensus revenue estimates decrease by 12%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₩280.8m to ₩248.0m. EPS estimate increased from ₩1,611 to ₩1,678 per share. Net income forecast to grow 29% next year vs 18% growth forecast for Building industry in South Korea. Consensus price target up from ₩15,960 to ₩16,500. Share price rose 24% to ₩15,300 over the past week. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩12,380, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Building industry in Asia. Total returns to shareholders of 37% over the past three years. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩14,000, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Building industry in Asia. Total returns to shareholders of 43% over the past three years. Price Target Changed • May 23
Price target decreased by 8.0% to ₩17,383 Down from ₩18,900, the current price target is an average from 6 analysts. New target price is 55% above last closing price of ₩11,190. Stock is down 17% over the past year. The company is forecast to post earnings per share of ₩1,615 for next year compared to ₩1,402 last year. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: ₩1,402 (vs ₩1,405 in FY 2022) Full year 2023 results: EPS: ₩1,402 (down from ₩1,405 in FY 2022). Revenue: ₩254.7b (up 4.4% from FY 2022). Net income: ₩39.2b (flat on FY 2022). Profit margin: 15% (in line with FY 2022). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Mar 18
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ₩1,974 to ₩1,714. Revenue forecast unchanged from ₩287.4m at last update. Net income forecast to grow 48% next year vs 23% growth forecast for Building industry in South Korea. Consensus price target down from ₩20,417 to ₩18,900. Share price rose 3.2% to ₩10,930 over the past week. Announcement • Feb 27
Sung Kwang Bend Co.,Ltd., Annual General Meeting, Mar 28, 2024 Sung Kwang Bend Co.,Ltd., Annual General Meeting, Mar 28, 2024. Upcoming Dividend • Dec 20
Upcoming dividend of ₩100.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 8.6% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.8%). New Risk • Nov 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 13% Last year net profit margin: 19% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩11,610, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Building industry in Asia. Total returns to shareholders of 77% over the past three years. Major Estimate Revision • May 09
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from ₩1,262 to ₩1,415. Revenue forecast steady at ₩281.9m. Net income forecast to grow 1.3% next year vs 23% growth forecast for Building industry in South Korea. Consensus price target of ₩19,917 unchanged from last update. Share price rose 8.4% to ₩13,550 over the past week. Reported Earnings • Mar 24
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₩1,405 (up from ₩44.00 loss in FY 2021). Revenue: ₩244.0b (up 78% from FY 2021). Net income: ₩39.2b (up ₩40.5b from FY 2021). Profit margin: 16% (up from net loss in FY 2021). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Building industry in Asia. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. Payout ratio is a comfortable 6.9% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.7%). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. No independent directors (4 non-independent directors). Chairperson Kab-Won Ahn was the last director to join the board, commencing their role in 2003. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Major Estimate Revision • Nov 12
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from ₩1,708 to ₩1,917. Revenue forecast unchanged at ₩261.8m. Net income forecast to grow 80% next year vs 21% growth forecast for Building industry in South Korea. Consensus price target of ₩22,000 unchanged from last update. Share price was steady at ₩14,850 over the past week. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₩14,500, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Building industry in Asia. Total returns to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩13,700, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Building industry in Asia. Total returns to shareholders of 35% over the past three years. Price Target Changed • Sep 03
Price target increased to ₩18,000 Up from ₩12,500, the current price target is an average from 2 analysts. New target price is 11% above last closing price of ₩16,200. Stock is up 77% over the past year. The company is forecast to post earnings per share of ₩1,506 next year compared to a net loss per share of ₩43.51 last year. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 24% share price gain to ₩14,550, the stock trades at a trailing P/E ratio of 22.2x. Average forward P/E is 12x in the Building industry in South Korea. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩10,250, the stock trades at a trailing P/E ratio of 15.7x. Average forward P/E is 12x in the Building industry in South Korea. Total returns to shareholders of 3.2% over the past three years. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improved over the past week After last week's 16% share price gain to ₩10,800, the stock trades at a trailing P/E ratio of 16.5x. Average forward P/E is 12x in the Building industry in South Korea. Total returns to shareholders of 3.7% over the past three years. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. No independent directors (4 non-independent directors). Chairperson Kab-Won Ahn was the last director to join the board, commencing their role in 2003. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 22 April 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (2.4%). In line with average of industry peers (1.3%). Price Target Changed • Nov 13
Price target decreased to ₩11,500 Down from ₩12,500, the current price target is an average from 4 analysts. New target price is 35% above last closing price of ₩8,550. Stock is up 30% over the past year. The company is forecast to post a net loss per share of ₩258 next year compared to a net loss per share of ₩49.77 last year. Price Target Changed • Jun 05
Price target increased to ₩10,475 Up from ₩9,725, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of ₩10,050. Stock is up 17% over the past year. Is New 90 Day High Low • Feb 22
New 90-day high: ₩7,880 The company is up 8.0% from its price of ₩7,330 on 24 November 2020. The South Korean market is up 18% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Building industry, which is also up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩8,325 per share. Is New 90 Day High Low • Jan 27
New 90-day high: ₩7,830 The company is up 31% from its price of ₩6,000 on 29 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Building industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩8,267 per share. Is New 90 Day High Low • Jan 04
New 90-day high: ₩7,610 The company is up 17% from its price of ₩6,480 on 06 October 2020. The South Korean market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Building industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩8,233 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩100.00 Per Share Will be paid on the 22nd of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.4% is below the top quartile of South Korean dividend payers (2.6%), but is in line with industry peers (1.4%). Is New 90 Day High Low • Nov 23
New 90-day high: ₩7,450 The company is up 7.0% from its price of ₩6,980 on 26 August 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩4,960 per share. Is New 90 Day High Low • Oct 16
New 90-day low: ₩6,200 The company is down 12% from its price of ₩7,050 on 17 July 2020. The South Korean market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩11,554 per share. Is New 90 Day High Low • Sep 22
New 90-day low: ₩6,650 The company is down 7.0% from its price of ₩7,150 on 24 June 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩11,533 per share.