Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩3,075, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 55% over the past three years. Buy Or Sell Opportunity • May 15
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 31% to ₩3,370. The fair value is estimated to be ₩4,411, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 205% in the next 2 years. Upcoming Dividend • Mar 23
Upcoming dividend of ₩60.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 April 2026. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.3%). Buy Or Sell Opportunity • Mar 20
Now 21% overvalued Over the last 90 days, the stock has fallen 6.4% to ₩3,965. The fair value is estimated to be ₩3,266, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 119% in the next 2 years. Buy Or Sell Opportunity • Mar 05
Now 21% overvalued Over the last 90 days, the stock has fallen 13% to ₩3,915. The fair value is estimated to be ₩3,228, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 119% in the next 2 years. New Risk • Mar 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩125.2b (US$85.6m) 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Market cap is less than US$100m (₩125.2b market cap, or US$85.6m). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to ₩3,435, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 74% over the past three years. Declared Dividend • Feb 25
Dividend of ₩60.00 announced Dividend of ₩60.00 is the same as last year. Ex-date: 30th March 2026 Payment date: 30th April 2026 Dividend yield will be 1.3%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (61% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 107% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to ₩5,630, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 10x in the Chemicals industry in South Korea. Total returns to shareholders of 189% over the past three years. New Risk • Jan 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩143.7b (US$97.3m) 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risk Market cap is less than US$100m (₩143.7b market cap, or US$97.3m). Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩4,870, the stock trades at a forward P/E ratio of 56x. Average forward P/E is 10x in the Chemicals industry in South Korea. Total returns to shareholders of 153% over the past three years. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩4,685, the stock trades at a forward P/E ratio of 57x. Average forward P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 143% over the past three years. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩3,455, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 77% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩3,130, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 10x in the Chemicals industry in South Korea. Total returns to shareholders of 54% over the past three years. New Risk • Sep 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Less than 3 years of financial data is available. Dividend is not well covered by earnings (92% payout ratio). Market cap is less than US$100m (₩87.8b market cap, or US$63.2m). Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to ₩2,410, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 10x in the Chemicals industry in South Korea. Total returns to shareholders of 19% over the past three years. Buy Or Sell Opportunity • Sep 02
Now 21% undervalued Over the last 90 days, the stock has risen 35% to ₩1,676. The fair value is estimated to be ₩2,113, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Annonce • Feb 25
Cp System Co.,Ltd, Annual General Meeting, Mar 31, 2025 Cp System Co.,Ltd, Annual General Meeting, Mar 31, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 27-37, jeonggwansanggok 1-gil, jeonggwan-eup, gijang-gun, busan South Korea Annonce • Nov 28
Cp System Co.,Ltd (KOSDAQ:A413630) announces an Equity Buyback for KRW 4,000 million worth of its shares. Cp System Co.,Ltd (KOSDAQ:A413630) announces a share repurchase program. Under the program, the company will repurchase up to KRW 4,000 million worth of its shares pursuant to a contract with Eugene Investment Co. Ltd. The purpose of the program is to enhance shareholder value. The program will expire on May 27, 2025. As of November 27, 2024, the company had 2,085,404 shares in treasury within scope available for dividend and had 21 shares in treasury through other repurchase. New Risk • Sep 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 12% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (12% average weekly change). Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩109.1b market cap, or US$81.4m). Annonce • Jul 26
Cp System Co.,Ltd (KOSDAQ:A413630) announces an Equity Buyback for KRW 6,000 million worth of its shares. Cp System Co.,Ltd (KOSDAQ:A413630) announces a share repurchase program. Under the program, the company will repurchase up to KRW 6,000 million worth of its shares pursuant to a contract with Eugene Investment Co. Ltd. The purpose of the program is to improve shareholder value. The program will expire on January 24, 2025. As of July 24, 2024, the company had no shares in treasury within scope available for dividend and had 21 shares in treasury through other repurchase. New Risk • Jul 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 5x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Market cap is less than US$100m (₩133.5b market cap, or US$96.8m).