Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩3,365, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 15x in the Commercial Services industry in South Korea. Total loss to shareholders of 43% over the past three years. Declared Dividend • Mar 14
Dividend increased to ₩140 Dividend of ₩140 is 12% higher than last year. Ex-date: 30th March 2026 Payment date: 1st January 1970 Dividend yield will be 3.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 189% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Mar 06
Consensus EPS estimates fall by 32% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₩287 to ₩196. Revenue forecast unchanged from ₩378.1m at last update. Net income forecast to grow 156% next year vs 77% growth forecast for Commercial Services industry in South Korea. Consensus price target of ₩7,000 unchanged from last update. Share price fell 3.4% to ₩4,125 over the past week. Major Estimate Revision • Nov 19
Consensus EPS estimates increase by 57% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from ₩183 to ₩287. Revenue forecast steady at ₩378.1m. Net income forecast to grow 285% next year vs 72% growth forecast for Commercial Services industry in South Korea. Consensus price target of ₩7,000 unchanged from last update. Share price was steady at ₩4,205 over the past week. New Risk • Jul 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩138.8b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Dividend is not well covered by earnings (155% payout ratio). Profit margins are more than 30% lower than last year (0.7% net profit margin). Market cap is less than US$100m (₩138.8b market cap, or US$99.5m). New Risk • Apr 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩147.6b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Market cap is less than US$100m (₩147.6b market cap, or US$99.9m). Upcoming Dividend • Mar 21
Upcoming dividend of ₩125 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 18 April 2025. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (3.9%). Annonce • Mar 11
NICE Total Cash Management Co., Ltd, Annual General Meeting, Mar 25, 2025 NICE Total Cash Management Co., Ltd, Annual General Meeting, Mar 25, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 7, saechang-ro, mapo-gu, seoul South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩125 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 23 April 2025. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (3.9%). New Risk • Dec 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩141.8b (US$100.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Market cap is less than US$100m (₩141.8b market cap, or US$100.0m). Major Estimate Revision • Sep 04
Consensus EPS estimates fall by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩372.1m to ₩365.8m. EPS estimate also fell from ₩533 per share to ₩358 per share. Net income forecast to grow 42% next year vs 42% growth forecast for Commercial Services industry in South Korea. Consensus price target down from ₩10,000 to ₩8,000. Share price fell 2.2% to ₩4,790 over the past week. Price Target Changed • Sep 04
Price target decreased by 20% to ₩8,000 Down from ₩10,000, the current price target is provided by 1 analyst. New target price is 67% above last closing price of ₩4,790. Stock is down 29% over the past year. The company is forecast to post earnings per share of ₩358 for next year compared to ₩471 last year. New Risk • May 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Major Estimate Revision • Apr 24
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ₩397.6m to ₩403.8m. EPS estimate increased from ₩471 to ₩538 per share. Net income forecast to grow 29% next year vs 8.3% decline forecast for Commercial Services industry in South Korea. Consensus price target of ₩10,000 unchanged from last update. Share price rose 8.1% to ₩5,900 over the past week. Reported Earnings • Mar 26
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ₩471 (up from ₩282 in FY 2022). Revenue: ₩365.5b (up 27% from FY 2022). Net income: ₩14.3b (up 67% from FY 2022). Profit margin: 3.9% (up from 3.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 45%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Commercial Services industry in South Korea. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩110 per share at 1.8% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 18 April 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (3.0%). New Risk • Jun 30
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 8.3% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩6,750, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 18x in the Commercial Services industry in South Korea. Total returns to shareholders of 4.0% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩110 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 19 April 2023. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (3.2%). Board Change • Nov 16
Insufficient new 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. 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: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩4,325, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 15x in the Commercial Services industry in South Korea. Total loss to shareholders of 47% over the past three years. Board Change • Apr 27
Insufficient new 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. 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: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 18% share price gain to ₩6,870, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Commercial Services industry in Asia. Total loss to shareholders of 30% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩110 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (3.1%). Price Target Changed • May 26
Price target increased to ₩10,000 Up from ₩8,000, the current price target is an average from 2 analysts. New target price is 31% above last closing price of ₩7,620. Stock is up 5.0% over the past year. Is New 90 Day High Low • Feb 26
New 90-day high: ₩6,700 The company is up 13% from its price of ₩5,920 on 27 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Commercial Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩11,833 per share. Is New 90 Day High Low • Jan 29
New 90-day low: ₩5,260 The company is down 8.0% from its price of ₩5,730 on 30 October 2020. The South Korean market is up 33% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services 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 ₩11,808 per share. Is New 90 Day High Low • Jan 11
New 90-day low: ₩5,530 The company is down 10.0% from its price of ₩6,140 on 13 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩11,911 per share. Is New 90 Day High Low • Dec 23
New 90-day low: ₩5,600 The company is down 1.0% from its price of ₩5,660 on 24 September 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Commercial Services industry, which is also down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩11,849 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩110 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 2.0% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (3.8%). Annonce • Sep 21
NICE Total Cash Management Co., Ltd(KOSDAQ:A063570) dropped from S&P Global BMI Index NICE Total Cash Management Co., Ltd(KOSDAQ:A063570) dropped from S&P Global BMI Index