Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩7,090, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 15x in the Machinery industry in South Korea. Total loss to shareholders of 28% over the past three years. Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: ₩682 (vs ₩210 in FY 2024) Full year 2025 results: EPS: ₩682 (up from ₩210 in FY 2024). Revenue: ₩128.8b (up 31% from FY 2024). Net income: ₩6.75b (up 217% from FY 2024). Profit margin: 5.2% (up from 2.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩8,280, the stock trades at a trailing P/E ratio of 10.4x. Average trailing P/E is 23x in the Machinery industry in South Korea. Total loss to shareholders of 24% over the past three years. Ankündigung • Feb 20
DK-Lok Corporation, Annual General Meeting, Mar 24, 2026 DK-Lok Corporation, Annual General Meeting, Mar 24, 2026, at 10:00 Tokyo Standard Time. Location: auditorium, 7, golden root-ro 129beon-gil, juchon-myeon, gyeongsangnam-do, gimhae South Korea New Risk • Nov 11
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 7.8% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.9% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (₩110.3b market cap, or US$75.3m). Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩7,940, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 15x in the Machinery industry in South Korea. Total loss to shareholders of 33% over the past three years. Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: ₩210 (vs ₩1,199 in FY 2023) Full year 2024 results: EPS: ₩210 (down from ₩1,199 in FY 2023). Revenue: ₩98.4b (down 12% from FY 2023). Net income: ₩2.13b (down 82% from FY 2023). Profit margin: 2.2% (down from 10% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Ankündigung • Feb 12
DK-Lok Corporation, Annual General Meeting, Mar 26, 2025 DK-Lok Corporation, Annual General Meeting, Mar 26, 2025, at 10:00 Tokyo Standard Time. Location: auditorium, 7, golden root-ro 129beon-gil, juchon-myeon, gyeongsangnam-do, gimhae South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩250 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 24 April 2025. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 3.3%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to ₩7,270, the stock trades at a trailing P/E ratio of 10.1x. Average forward P/E is 13x in the Machinery industry in South Korea. Total loss to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩10,880, the stock trades at a trailing P/E ratio of 15.1x. Average forward P/E is 12x in the Machinery industry in South Korea. Total loss to shareholders of 14% over the past three years. New Risk • May 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: 6.8% Last year net profit margin: 9.8% 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 Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.8% net profit margin). Shareholders have been diluted in the past year (9.8% increase in shares outstanding). Market cap is less than US$100m (₩92.4b market cap, or US$67.7m). Reported Earnings • Mar 21
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ₩1,199 (up from ₩685 in FY 2022). Revenue: ₩111.4b (up 1.4% from FY 2022). Net income: ₩11.6b (up 98% from FY 2022). Profit margin: 10% (up from 5.3% in FY 2022). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 23%. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share at 2.2% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of South Korean dividend payers (3.5%). In line with average of industry peers (2.3%). New Risk • Nov 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: 7.5% Last year net profit margin: 13% 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 Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.5% net profit margin). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (₩93.1b market cap, or US$72.1m). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: ₩685 (vs ₩1,065 in FY 2021) Full year 2022 results: EPS: ₩685 (down from ₩1,065 in FY 2021). Revenue: ₩109.9b (up 28% from FY 2021). Net income: ₩5.85b (down 35% from FY 2021). Profit margin: 5.3% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩200 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.1%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Oct 04
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 10.9x. Average trailing P/E is 14x in the Machinery industry in South Korea. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩9,030, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 18x in the Machinery industry in South Korea. Total loss to shareholders of 12% over the past three years. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 15% share price gain to ₩12,850, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 17x in the Machinery industry in South Korea. Total returns to shareholders of 26% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.4%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩11,850, the stock is trading at a trailing P/E ratio of 22.5x, down from the previous P/E ratio of 26.7x. This compares to an average P/E of 24x in the Machinery industry in South Korea. Total returns to shareholders over the past three years are 102%. Is New 90 Day High Low • Feb 22
New 90-day low: ₩13,050 The company is down 9.0% from its price of ₩14,300 on 24 November 2020. The South Korean market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 4.0% over the same period. Ankündigung • Feb 04
DK-Lok Corporation, Annual General Meeting, Mar 23, 2021 DK-Lok Corporation, Annual General Meeting, Mar 23, 2021, at 10:00 Korea Standard Time. Is New 90 Day High Low • Jan 22
New 90-day high: ₩16,100 The company is up 12% from its price of ₩14,400 on 23 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 22% over the same period. Upcoming Dividend • Dec 22
First Dividend Is ₩200 Per Share Will be paid on the 17th of April to those who are registered shareholders by the 29th of December. This is the first dividend for DK-Lok since going public. The average dividend yield among industry peers is 2.8%. Ankündigung • Nov 06
DK-Lok Corporation announced that it expects to receive KRW 20 billion in funding from Now Ace Partnership Fund DK-Lok Corporation (KOSDAQ:A105740) announced a private placement of series 3 unregistered nonguaranteed private convertible bond for an aggregate gross proceeds of KRW 20,000,000,000 on November 5, 2020. The transaction includes participation from Now Ace Partnership Fund for KRW 4,000,000,000, Hiz E Best The Current New Technology Fund 2 for KRW 5,000,000,000, Withwin Fund 63 for KRW 5,000,000,000, and Tigris-LX Equity Fund 1 for KRW 6,000,000,000. The bonds carry zero coupon rate and will mature on November 13, 2023. The bonds are fully convertible into 1,331,735 common shares of the company at a conversion price of KRW 15,018 per share. The conversion period will start from November 13, 2021 and ends on October 13, 2023. The transaction is expected to close on November 13, 2020. The transaction has been approved by the board of directors of the company. Valuation Update With 7 Day Price Move • Oct 22
Market pulls back on stock over the past week After last week's 18% share price decline to ₩14,750, the stock is trading at a trailing P/E ratio of 18x, down from the previous P/E ratio of 22x. This compares to an average P/E of 19x in the Machinery industry in South Korea. Total returns to shareholders over the past three years are 221%. Is New 90 Day High Low • Oct 06
New 90-day high: ₩12,600 The company is up 48% from its price of ₩8,530 on 08 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 5.0% over the same period. 