Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩32,250, the stock trades at a trailing P/E ratio of 39.2x. Average trailing P/E is 22x in the Electrical industry in South Korea. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to ₩28,100, the stock trades at a trailing P/E ratio of 34.2x. Average trailing P/E is 27x in the Electrical industry in South Korea. Total returns to shareholders of 160% over the past three years. New Risk • May 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% 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 Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings have declined by 20% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: ₩741 (vs ₩81.21 loss in FY 2024) Full year 2025 results: EPS: ₩741 (up from ₩81.21 loss in FY 2024). Revenue: ₩945.4b (up 7.2% from FY 2024). Net income: ₩21.2b (up ₩23.4b from FY 2024). Profit margin: 2.2% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 75% per year, which means it is well ahead of earnings. Annuncio • Mar 12
Shinsung Delta Tech Co.,Ltd., Annual General Meeting, Mar 25, 2026 Shinsung Delta Tech Co.,Ltd., Annual General Meeting, Mar 25, 2026, at 11:00 Tokyo Standard Time. Location: auditorium, 39, gongdan-ro 271beon-gil, seongsan-gu, gyeongsangnam-do, changwon South Korea New Risk • Mar 04
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 11% 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 Risks Interest payments are not well covered by earnings (2.2x net interest cover). Earnings have declined by 23% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). New Risk • Jun 12
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 9.2% 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 Risks Interest payments are not well covered by earnings (2.7x net interest cover). Earnings have declined by 14% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.2% average weekly change). Reported Earnings • Mar 22
Full year 2024 earnings released: ₩37.00 loss per share (vs ₩463 profit in FY 2023) Full year 2024 results: ₩37.00 loss per share (down from ₩463 profit in FY 2023). Revenue: ₩909.7b (up 9.1% from FY 2023). Net loss: ₩994.5m (down 108% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 126 percentage points per year, which is a significant difference in performance. Annuncio • Mar 12
Shinsung Delta Tech Co.,Ltd., Annual General Meeting, Mar 26, 2025 Shinsung Delta Tech Co.,Ltd., Annual General Meeting, Mar 26, 2025, at 11:00 Tokyo Standard Time. Location: auditorium, 39, gongdan-ro 271beon-gil, seongsan-gu, gyeongsangnam-do, changwon South Korea Annuncio • Feb 26
Shinsung Delta Tech Co.,Ltd. announces Annual dividend, payable on April 25, 2025 Shinsung Delta Tech Co.,Ltd. announced Annual dividend of KRW 120.0000 per share payable on April 25, 2025, ex-date on December 27, 2024 and record date on December 31, 2024. New Risk • Dec 17
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 13% 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 Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). New Risk • Dec 07
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2013. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported September 2013 fiscal period end). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). New Risk • Sep 17
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 Share price has been volatile over the past 3 months (11% average weekly change). New Risk • Aug 05
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 8.6% 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 Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Profit margins are more than 30% lower than last year (1.2% net profit margin). New Risk • Jun 04
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: 1.2% Last year net profit margin: 2.0% 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: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: ₩463 (vs ₩627 in FY 2022) Full year 2023 results: EPS: ₩463 (down from ₩627 in FY 2022). Revenue: ₩833.7b (up 5.1% from FY 2022). Net income: ₩12.5b (down 26% from FY 2022). Profit margin: 1.5% (down from 2.1% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 142% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩120 per share at 0.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of South Korean dividend payers (3.5%). In line with average of industry peers (0.3%). New Risk • Nov 27
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 3.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (3.0x net interest cover). Share price has been highly volatile over the past 3 months (16% average weekly change). Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩40,750, the stock trades at a trailing P/E ratio of 56.7x. Average trailing P/E is 18x in the Electrical industry in South Korea. Total returns to shareholders of 559% over the past three years. Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₩55,900, the stock trades at a trailing P/E ratio of 77.7x. Average trailing P/E is 18x in the Electrical industry in South Korea. Total returns to shareholders of 785% over the past three years. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₩40,100, the stock trades at a trailing P/E ratio of 55.8x. Average trailing P/E is 21x in the Electrical industry in South Korea. Total returns to shareholders of 559% over the past three years. Buying Opportunity • Sep 06
Now 22% undervalued Over the last 90 days, the stock is up 357%. The fair value is estimated to be ₩67,464, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 27%. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improves as stock rises 108% After last week's 108% share price gain to ₩25,350, the stock trades at a trailing P/E ratio of 41.2x. Average trailing P/E is 21x in the Electrical industry in South Korea. Total returns to shareholders of 584% over the past three years. New Risk • Aug 02
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 12% 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 Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Profit margins are more than 30% lower than last year (2.0% net profit margin). Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩12,040, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 20x in the Electrical industry in South Korea. Total returns to shareholders of 255% over the past three years. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩627 (vs ₩908 in FY 2021) Full year 2022 results: EPS: ₩627 (down from ₩908 in FY 2021). Revenue: ₩793.4b (up 7.6% from FY 2021). Net income: ₩16.9b (down 31% from FY 2021). Profit margin: 2.1% (down from 3.3% 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 47% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩11,030, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 20x in the Electrical industry in South Korea. Total returns to shareholders of 287% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩120 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (0.9%). 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 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 • Jun 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩10,350, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Electrical industry in South Korea. Total returns to shareholders of 190% over the past three years. Price Target Changed • Apr 27
Price target decreased to ₩22,000 Down from ₩26,000, the current price target is an average from 2 analysts. New target price is 54% above last closing price of ₩14,300. Stock is up 46% over the past year. The company is forecast to post earnings per share of ₩1,199 for next year compared to ₩908 last year. 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 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 • Jan 21
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩15,600, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electrical industry in South Korea. Total returns to shareholders of 391% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 25 April 2022. Payout ratio is a comfortable 12% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (2.4%). In line with average of industry peers (0.7%). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩15,250, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Electrical industry in South Korea. Total returns to shareholders of 319% over the past three years. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 27% share price gain to ₩20,000, the stock trades at a trailing P/E ratio of 33.8x. Average forward P/E is 15x in the Electrical industry in South Korea. Total returns to shareholders of 345% over the past three years. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 17% share price gain to ₩17,200, the stock trades at a trailing P/E ratio of 29x. Average forward P/E is 16x in the Electrical industry in South Korea. Total returns to shareholders of 303% over the past three years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improved over the past week After last week's 22% share price gain to ₩15,500, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 22x in the Electrical industry in South Korea. Total returns to shareholders of 293% over the past three years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improved over the past week After last week's 21% share price gain to ₩9,980, the stock trades at a trailing P/E ratio of 60.9x. Average trailing P/E is 23x in the Electrical industry in South Korea. Total returns to shareholders of 104% over the past three years. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩10,400, the stock is trading at a trailing P/E ratio of 63.5x, down from the previous P/E ratio of 75.4x. This compares to an average P/E of 24x in the Electrical industry in South Korea. Total returns to shareholders over the past three years are 117%. Is New 90 Day High Low • Jan 21
New 90-day high: ₩12,350 The company is up 97% from its price of ₩6,270 on 23 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 26% over the same period. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩10,100, the stock is trading at a trailing P/E ratio of 61.6x, down from the previous P/E ratio of 72.6x. This compares to an average P/E of 24x in the Electrical industry in South Korea. Total returns to shareholders over the past three years are 90%. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 18% share price gain to ₩8,010, the stock is trading at a trailing P/E ratio of 48.9x, up from the previous P/E ratio of 41.3x. This compares to an average P/E of 23x in the Electrical industry in South Korea. Total returns to shareholders over the past three years are 47%. Is New 90 Day High Low • Dec 23
New 90-day high: ₩8,340 The company is up 17% from its price of ₩7,100 on 24 September 2020. The South Korean market is up 16% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Electrical industry, which is also up 17% over the same period. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 30% share price gain to ₩8,340, the stock is trading at a trailing P/E ratio of 50.9x, up from the previous P/E ratio of 39.2x. This compares to an average P/E of 22x in the Electrical industry in South Korea. Total returns to shareholders over the past three years are 52%. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS ₩106 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩136.3b (up 16% from 3Q 2019). Net income: ₩3.01b (up 23% from 3Q 2019). Profit margin: 2.2% (up from 2.1% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 10
New 90-day high: ₩7,140 The company is up 71% from its price of ₩4,170 on 12 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 17% over the same period. Valuation Update With 7 Day Price Move • Nov 10
Market bids up stock over the past week After last week's 29% share price gain to ₩7,140, the stock is trading at a trailing P/E ratio of 47.9x, up from the previous P/E ratio of 37.2x. This compares to an average P/E of 19x in the Electrical industry in South Korea. Total returns to shareholders over the past three years are 65%.