New Risk • Apr 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% 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: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩120.2b market cap, or US$79.7m). Annonce • Feb 27
Y-Entec Co., Ltd., Annual General Meeting, Mar 30, 2026 Y-Entec Co., Ltd., Annual General Meeting, Mar 30, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 122, judong-ro, jeollanam-do, yeosu South Korea Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩7,980, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 17x in the Commercial Services industry in South Korea. Total loss to shareholders of 9.5% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩70.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 15 April 2026. Payout ratio is a comfortable 4.5% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (3.4%). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ₩259 (vs ₩283 in 3Q 2024) Third quarter 2025 results: EPS: ₩259 (down from ₩283 in 3Q 2024). Revenue: ₩29.2b (up 7.9% from 3Q 2024). Net income: ₩4.69b (down 9.5% from 3Q 2024). Profit margin: 16% (down from 19% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Declared Dividend • Nov 08
Dividend of ₩70.00 announced Dividend of ₩70.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 15th April 2026 Dividend yield will be 1.2%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is covered by earnings (4% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 12% per year over the past 3 years and payments have been stable during that time. Earnings per share has grown by 3.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annonce • Nov 07
Y-Entec Co., Ltd. announces Annual dividend, payable on April 15, 2026 Y-Entec Co., Ltd. announced Annual dividend of KRW 70.0000 per share payable on April 15, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Sep 19
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩120.5b market cap, or US$86.4m). New Risk • Aug 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (₩119.3b market cap, or US$86.0m). Reported Earnings • May 20
First quarter 2025 earnings released: EPS: ₩201 (vs ₩370 in 1Q 2024) First quarter 2025 results: EPS: ₩201 (down from ₩370 in 1Q 2024). Revenue: ₩27.0b (down 1.7% from 1Q 2024). Net income: ₩3.64b (down 46% from 1Q 2024). Profit margin: 13% (down from 24% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: ₩1,730 (vs ₩1,330 in FY 2023) Full year 2024 results: EPS: ₩1,730 (up from ₩1,330 in FY 2023). Revenue: ₩113.8b (down 6.3% from FY 2023). Net income: ₩31.3b (up 30% from FY 2023). Profit margin: 28% (up from 20% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Annonce • Feb 25
Y-Entec Co., Ltd., Annual General Meeting, Mar 25, 2025 Y-Entec Co., Ltd., Annual General Meeting, Mar 25, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 1232, yeosusandan-ro, jeollanam-do, yeosu South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 15 April 2025. Payout ratio is a comfortable 3.5% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (3.9%). New Risk • Dec 09
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (₩106.8b market cap, or US$75.1m). New Risk • Jul 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩137.0b (US$99.3m) 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. This is currently the only risk that has been identified for the company. Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share at 0.7% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 12 April 2024. Payout ratio is a comfortable 3.6% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (3.0%). New Risk • Oct 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩133.4b (US$98.6m) 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. This is currently the only risk that has been identified for the company. New Risk • Aug 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 8.7% 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 • Aug 03
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to ₩11,930, the stock trades at a trailing P/E ratio of 8.2x. Average forward P/E is 12x in the Commercial Services industry in South Korea. Total loss to shareholders of 5.9% over the past three years. Reported Earnings • May 21
First quarter 2023 earnings released: EPS: ₩297 (vs ₩211 in 1Q 2022) First quarter 2023 results: EPS: ₩297 (up from ₩211 in 1Q 2022). Revenue: ₩30.7b (up 15% from 1Q 2022). Net income: ₩5.39b (up 41% from 1Q 2022). Profit margin: 18% (up from 14% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩1,361 (vs ₩1,281 in FY 2021) Full year 2022 results: EPS: ₩1,361 (up from ₩1,281 in FY 2021). Revenue: ₩123.8b (up 11% from FY 2021). Net income: ₩24.6b (up 6.0% from FY 2021). Profit margin: 20% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. 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. 6 experienced directors. No highly experienced directors. 1 independent director (5 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 • May 19
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩10,100, the stock trades at a trailing P/E ratio of 7.9x. Average forward P/E is 13x in the Commercial Services industry in South Korea. Total returns to shareholders of 25% 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. 6 experienced directors. No highly experienced directors. 1 independent director (5 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. Is New 90 Day High Low • Feb 17
New 90-day high: ₩16,200 The company is up 33% from its price of ₩12,150 on 19 November 2020. The South Korean market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 4.0% over the same period. Is New 90 Day High Low • Jan 26
New 90-day high: ₩14,700 The company is up 30% from its price of ₩11,300 on 28 October 2020. The South Korean market is up 36% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Commercial Services industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: ₩14,050 The company is up 9.0% from its price of ₩12,850 on 17 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Commercial Services industry, which is down 4.0% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: ₩14,000 The company is up 6.0% from its price of ₩13,200 on 28 August 2020. The South Korean market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Commercial Services industry, which is down 5.0% over the same period. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS ₩363 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩26.1b (up 1.5% from 3Q 2019). Net income: ₩6.61b (up 18% from 3Q 2019). Profit margin: 25% (up from 22% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 39% per year whereas the company’s share price has increased by 37% per year. Is New 90 Day High Low • Oct 15
New 90-day low: ₩11,850 The company is down 4.0% from its price of ₩12,350 on 17 July 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 Commercial Services industry, which is up 4.0% over the same period. 
