New Risk • Jun 01
New major risk - Revenue and earnings growth Earnings have declined by 5.0% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 5.0% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩83.9b market cap, or US$55.6m). New Risk • Apr 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩18b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-₩18b free cash flow). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (₩94.1b market cap, or US$62.4m). Annonce • Mar 13
SMCore.Inc, Annual General Meeting, Mar 27, 2026 SMCore.Inc, Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 110, huam-ro, jung-gu, seoul South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₩4,480, the stock trades at a trailing P/E ratio of 29.9x. Average forward P/E is 18x 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 • Feb 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩6,960, the stock trades at a trailing P/E ratio of 46.4x. Average forward P/E is 16x in the Machinery industry in South Korea. Total returns to shareholders of 7.5% over the past three years. New Risk • Jan 20
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 9.0% 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 High level of non-cash earnings (28% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (₩115.1b market cap, or US$78.1m). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₩5,840, the stock trades at a trailing P/E ratio of 39x. Average forward P/E is 16x in the Machinery industry in South Korea. Total loss to shareholders of 4.0% over the past three years. Annonce • Sep 17
M2I Corporation acquired 21.11% stake in SMCore.Inc from SK Inc. M2I Corporation (KOSDAQ:A347890) signed a binding memorandum of understanding to acquire an unknown minority stake in SMCore.Inc (KOSDAQ:A007820) from SK Inc. (KOSE:A034730) for KRW 23.6 billion on May 30, 2025. M2I Corporation entered into a stock purchase agreement to acquire an 21.11% stake in SMCore.Inc from SK Inc. for KRW 23.6 billion on August 29, 2025. M2I Corporation will pay KRW 5,580 per share for the acquisition. After this transaction, M2I Corporation will work with SK Inc. to enhance SMCore's corporate value. Final contract negotiation after due diligence and final contract conclusion within 3 months. The expected completion date of the transaction is September 16, 2025.
M2I Corporation completed the acquisition of 21.11% stake in SMCore.Inc from SK Inc. for September 16, 2025. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩5,090, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 26x in the Machinery industry in South Korea. Total loss to shareholders of 21% over the past three years. New Risk • Aug 26
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 9.6% 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 High level of non-cash earnings (46% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (₩91.2b market cap, or US$65.4m). Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩4,625, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 20x in the Machinery industry in South Korea. Total loss to shareholders of 34% over the past three years. New Risk • Mar 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 8.8% 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 65% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (₩85.6b market cap, or US$58.8m). Annonce • Feb 28
SMCore.Inc, Annual General Meeting, Mar 26, 2025 SMCore.Inc, Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 110, huam-ro, jung-gu, seoul South Korea Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩7.00 (vs ₩147 loss in 3Q 2023) Third quarter 2024 results: EPS: ₩7.00 (up from ₩147 loss in 3Q 2023). Revenue: ₩49.5b (down 22% from 3Q 2023). Net income: ₩141.3m (up ₩3.01b from 3Q 2023). Profit margin: 0.3% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: ₩152 (vs ₩186 loss in 2Q 2023) Second quarter 2024 results: EPS: ₩152 (up from ₩186 loss in 2Q 2023). Revenue: ₩32.3b (down 3.1% from 2Q 2023). Net income: ₩2.98b (up ₩6.62b from 2Q 2023). Profit margin: 9.2% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: ₩148 (vs ₩44.00 loss in 1Q 2023) First quarter 2024 results: EPS: ₩148 (up from ₩44.00 loss in 1Q 2023). Revenue: ₩25.5b (down 35% from 1Q 2023). Net income: ₩2.89b (up ₩3.76b from 1Q 2023). Profit margin: 11% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Dec 20
Upcoming dividend of ₩70.00 per share at 1.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩8,040, the stock trades at a trailing P/E ratio of 63.9x. Average trailing P/E is 15x in the Machinery industry in South Korea. Total returns to shareholders of 6.8% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 21 April 2023. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.1%). Annonce • Nov 25
SMCore.Inc (KOSDAQ:A007820) announces an Equity Buyback for KRW 3,000 million worth of its shares. SMCore.Inc (KOSDAQ:A007820) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares pursuant to a contract with SK Securities Co., LTD. The purpose of the program is shareholder value enhancement. The program will expire on May 24, 2023. As of November 23, 2022, the company had 0 shares in treasury within scope available for dividend and 5 shares in treasury under other capacities. 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. 7 experienced directors. No highly experienced directors. No independent directors (7 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: Lack of independent directors. Insufficient board refreshment. 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. 7 experienced directors. No highly experienced directors. No independent directors (7 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: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩70.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (2.8%). Is New 90 Day High Low • Mar 08
New 90-day low: ₩7,070 The company is down 4.0% from its price of ₩7,400 on 08 December 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 Machinery industry, which is up 3.0% over the same period. Is New 90 Day High Low • Jan 25
New 90-day high: ₩9,160 The company is up 42% from its price of ₩6,470 on 27 October 2020. The South Korean market is up 33% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 24% over the same period. Is New 90 Day High Low • Jan 08
New 90-day high: ₩7,880 The company is up 11% from its price of ₩7,090 on 08 October 2020. The South Korean market is up 25% 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
Upcoming Dividend of ₩70.00 Per Share Will be paid on the 17th of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.0% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (2.8%). Is New 90 Day High Low • Dec 14
New 90-day high: ₩7,680 The company is up 3.0% from its price of ₩7,490 on 15 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: ₩7,630 The company is up 8.0% from its price of ₩7,060 on 28 August 2020. The South Korean market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 20% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: ₩6,520 The company is down 19% from its price of ₩8,050 on 28 July 2020. The South Korean market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 2.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: ₩6,650 The company is down 19% from its price of ₩8,220 on 26 June 2020. The South Korean market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 3.0% over the same period.