Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩43,300, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 8x in the Construction industry in South Korea. Total returns to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩80,041 per share. Price Target Changed • Jun 19
Price target increased by 8.0% to ₩62,079 Up from ₩57,500, the current price target is an average from 19 analysts. New target price is 28% above last closing price of ₩48,650. Stock is up 117% over the past year. The company is forecast to post earnings per share of ₩3,673 for next year compared to ₩3,150 last year. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩52,100, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 8x in the Construction industry in South Korea. Total returns to shareholders of 100% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩79,372 per share. New Risk • May 13
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 13% 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 Dividend is not well covered by cash flows (98% cash payout ratio). Share price has been volatile over the past 3 months (13% average weekly change). Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩64,300, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Construction industry in South Korea. Total returns to shareholders of 137% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩80,590 per share. Reported Earnings • Apr 26
First quarter 2026 earnings released: EPS: ₩833 (vs ₩768 in 1Q 2025) First quarter 2026 results: EPS: ₩833 (up from ₩768 in 1Q 2025). Revenue: ₩2.27t (up 8.1% from 1Q 2025). Net income: ₩163.3b (up 8.4% from 1Q 2025). Profit margin: 7.2% (in line with 1Q 2025). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Construction industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Price Target Changed • Apr 24
Price target increased by 10% to ₩49,950 Up from ₩45,333, the current price target is an average from 20 analysts. New target price is approximately in line with last closing price of ₩52,500. Stock is up 177% over the past year. The company is forecast to post earnings per share of ₩3,655 for next year compared to ₩3,150 last year. Annuncio • Apr 17
Samsung E&A Co., Ltd. to Report Q1, 2026 Results on Apr 23, 2026 Samsung E&A Co., Ltd. announced that they will report Q1, 2026 results on Apr 23, 2026 Price Target Changed • Apr 07
Price target increased by 9.2% to ₩40,857 Up from ₩37,429, the current price target is an average from 21 analysts. New target price is 15% below last closing price of ₩47,800. Stock is up 161% over the past year. The company is forecast to post earnings per share of ₩3,596 for next year compared to ₩3,150 last year. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩40,350, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 9x in the Construction industry in South Korea. Total returns to shareholders of 46% over the past three years. Buy Or Sell Opportunity • Mar 19
Now 21% undervalued Over the last 90 days, the stock has risen 31% to ₩32,700. The fair value is estimated to be ₩41,243, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Earnings per share has declined by 8.7%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings are also forecast to grow by 9.5% per annum over the same time period. Reported Earnings • Mar 13
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: ₩3,150 (down from ₩3,862 in FY 2024). Revenue: ₩9.03t (down 9.4% from FY 2024). Net income: ₩617.5b (down 18% from FY 2024). Profit margin: 6.8% (down from 7.6% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Construction industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩30,900, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Construction industry in South Korea. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩32,861 per share. Annuncio • Feb 13
Samsung E&A Co., Ltd., Annual General Meeting, Mar 19, 2026 Samsung E&A Co., Ltd., Annual General Meeting, Mar 19, 2026, at 09:01 Tokyo Standard Time. Location: leaders hall, 26, sangil-ro 6-gil, gangdong-gu, seoul South Korea Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩28,900, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Construction industry in South Korea. Total returns to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩28,401 per share. Annuncio • Jan 16
Samsung E&A Co., Ltd. to Report Q4, 2025 Results on Jan 23, 2026 Samsung E&A Co., Ltd. announced that they will report Q4, 2025 results on Jan 23, 2026 Upcoming Dividend • Dec 22
Upcoming dividend of ₩660 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 20 April 2026. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.7%). Buy Or Sell Opportunity • Dec 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₩24,550. The fair value is estimated to be ₩31,451, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.4% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 22% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Declared Dividend • Nov 08
Dividend of ₩660 announced Dividend of ₩660 is the same as last year. Ex-date: 29th December 2025 Payment date: 20th April 2026 Dividend yield will be 2.6%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (4% 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 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Nov 07
Samsung E&A Co., Ltd. announces Annual dividend, payable on April 20, 2026 Samsung E&A Co., Ltd. announced Annual dividend of KRW 660.0000 per share payable on April 20, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Buy Or Sell Opportunity • Oct 14
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to ₩27,950. The fair value is estimated to be ₩23,123, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.8%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 25% in the next 2 years. Buy Or Sell Opportunity • Sep 10
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to ₩28,600. The fair value is estimated to be ₩23,781, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.8%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Price Target Changed • Jul 30
Price target increased by 7.7% to ₩31,114 Up from ₩28,881, the current price target is an average from 22 analysts. New target price is 18% above last closing price of ₩26,350. Stock is down 7.7% over the past year. The company is forecast to post earnings per share of ₩3,133 for next year compared to ₩3,862 last year. New Risk • Jul 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.07% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. This is currently the only risk that has been identified for the company. Annuncio • Jul 20
Samsung E&A Co., Ltd. to Report Q2, 2025 Results on Jul 24, 2025 Samsung E&A Co., Ltd. announced that they will report Q2, 2025 results on Jul 24, 2025 New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. This is currently the only risk that has been identified for the company. Annuncio • May 16
Samsung E&A Launches Its Compassh2 Hydrogen Plant Solution, Utilizing Nel's Alkaline Technology SAMSUNG E&A has unveiled the CompassH2, a new hydrogen plant concept built to achieve performance and cost-efficiency by offering an integrated solution covering every phase of the value chain. The concept is based on Nel's electrolyser technology, further validating Nel's competitiveness in large-scale applications. SAMSUNG E&A will present its solution at the Nel booth at the World Hydrogen Summit in Rotterdam, May 21st at 11:00 CET. Reported Earnings • Apr 26
First quarter 2025 earnings released: EPS: ₩802 (vs ₩826 in 1Q 2024) First quarter 2025 results: EPS: ₩802 (down from ₩826 in 1Q 2024). Revenue: ₩2.10t (down 12% from 1Q 2024). Net income: ₩157.2b (down 3.0% from 1Q 2024). Profit margin: 7.5% (up from 6.8% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Construction industry in South Korea. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Annuncio • Apr 17
Samsung E&A Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025 Samsung E&A Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025 Board Change • Mar 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Head of ECO & Infra Business Division & Inside Director Dae Kim was the last director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 12
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₩3,862 (up from ₩3,846 in FY 2023). Revenue: ₩9.97t (down 6.2% from FY 2023). Net income: ₩756.9b (flat on FY 2023). Profit margin: 7.6% (up from 7.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 3.0%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Construction industry in South Korea. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Annuncio • Feb 20
Samsung E&A Co., Ltd., Annual General Meeting, Mar 20, 2025 Samsung E&A Co., Ltd., Annual General Meeting, Mar 20, 2025, at 09:00 Tokyo Standard Time. Location: leaders hall, 26, sangil-ro 6-gil, gangdong-gu, seoul South Korea Price Target Changed • Feb 19
Price target decreased by 7.4% to ₩28,524 Down from ₩30,810, the current price target is an average from 21 analysts. New target price is 52% above last closing price of ₩18,720. Stock is down 21% over the past year. The company is forecast to post earnings per share of ₩3,981 for next year compared to ₩3,846 last year. New Risk • Dec 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.4% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Earnings are forecast to decline by an average of 6.4% per year for the foreseeable future. High level of non-cash earnings (31% accrual ratio). Price Target Changed • Oct 26
Price target decreased by 7.2% to ₩33,405 Down from ₩36,000, the current price target is an average from 21 analysts. New target price is 81% above last closing price of ₩18,420. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₩3,892 for next year compared to ₩3,846 last year. Annuncio • Oct 17
Samsung E&A Co., Ltd. to Report Q3, 2024 Results on Oct 24, 2024 Samsung E&A Co., Ltd. announced that they will report Q3, 2024 results on Oct 24, 2024 New Risk • Jul 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 26
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₩2.69t (down 3.6% from 2Q 2023). Net income: ₩205.3b (down 34% from 2Q 2023). Profit margin: 7.6% (down from 11% in 2Q 2023). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Construction industry in South Korea. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 26
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ₩10.2b to ₩10.4b. EPS estimate increased from ₩3,156 to ₩3,530 per share. Net income forecast to shrink 5.4% next year vs 1.4% decline forecast for Construction industry in South Korea. Consensus price target of ₩35,523 unchanged from last update. Share price rose 12% to ₩27,900 over the past week. Annuncio • Jul 20
Samsung E&A Co., Ltd. to Report Q2, 2024 Results on Jul 25, 2024 Samsung E&A Co., Ltd. announced that they will report Q2, 2024 results on Jul 25, 2024 Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: ₩837 (vs ₩905 in 1Q 2023) First quarter 2024 results: EPS: ₩837 (down from ₩905 in 1Q 2023). Revenue: ₩2.38t (down 5.9% from 1Q 2023). Net income: ₩164.1b (down 7.5% from 1Q 2023). Profit margin: 6.9% (down from 7.0% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Construction industry in South Korea. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Annuncio • Apr 20
Samsung Engineering Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024 Samsung Engineering Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024 Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: ₩3,846 (vs ₩3,392 in FY 2022) Full year 2023 results: EPS: ₩3,846 (up from ₩3,392 in FY 2022). Revenue: ₩11t (up 5.7% from FY 2022). Net income: ₩753.8b (up 13% from FY 2022). Profit margin: 7.1% (up from 6.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.4% growth forecast for the Construction industry in South Korea. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Annuncio • Feb 16
Samsung Engineering Co., Ltd., Annual General Meeting, Mar 21, 2024 Samsung Engineering Co., Ltd., Annual General Meeting, Mar 21, 2024, at 09:00 Korea Standard Time. Location: Leaders Hall, Global Engineering Center 26 Sangil-ro 6-gil, Seoul, Korea) Seoul South Korea Agenda: To consider Audit report ; To consider Report on the operation of Internal Accounting Control System; To consider Business report ; TO consider Approval of FY 2023 Financial Statements ; To consider Appointment of Director. Annuncio • Jan 23
Samsung Engineering Co., Ltd. to Report Fiscal Year 2023 Results on Jan 30, 2024 Samsung Engineering Co., Ltd. announced that they will report fiscal year 2023 results on Jan 30, 2024 Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩24,350, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Construction industry in South Korea. Total returns to shareholders of 73% over the past three years. Reported Earnings • Nov 19
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: ₩767 (down from ₩839 in 3Q 2022). Revenue: ₩2.48t (flat on 3Q 2022). Net income: ₩150.4b (down 8.6% from 3Q 2022). Profit margin: 6.1% (down from 6.7% in 3Q 2022). Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Construction industry in South Korea. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 04
Price target decreased by 8.5% to ₩37,667 Down from ₩41,158, the current price target is an average from 21 analysts. New target price is 54% above last closing price of ₩24,400. Stock is down 5.6% over the past year. The company is forecast to post earnings per share of ₩3,944 for next year compared to ₩3,392 last year. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩23,300, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Construction industry in South Korea. Total returns to shareholders of 103% over the past three years. Annuncio • Oct 26
Samsung Engineering Co., Ltd. to Report Q3, 2023 Results on Oct 30, 2023 Samsung Engineering Co., Ltd. announced that they will report Q3, 2023 results on Oct 30, 2023 Price Target Changed • Jul 30
Price target increased by 7.4% to ₩40,421 Up from ₩37,632, the current price target is an average from 19 analysts. New target price is 13% above last closing price of ₩35,750. Stock is up 82% over the past year. The company is forecast to post earnings per share of ₩3,894 for next year compared to ₩3,392 last year. Major Estimate Revision • Jul 28
Consensus EPS estimates increase by 20% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from ₩3,141 to ₩3,755. Revenue forecast steady at ₩10.8b. Net income forecast to shrink 1.6% next year vs 5.0% growth forecast for Construction industry in South Korea . Consensus price target up from ₩37,632 to ₩39,000. Share price rose 6.9% to ₩35,750 over the past week. Reported Earnings • Mar 10
Full year 2022 earnings released: EPS: ₩3,392 (vs ₩1,900 in FY 2021) Full year 2022 results: EPS: ₩3,392 (up from ₩1,900 in FY 2021). Revenue: ₩10t (up 34% from FY 2021). Net income: ₩664.9b (up 79% from FY 2021). Profit margin: 6.6% (up from 5.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Construction industry in South Korea. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 25
Price target increased by 7.2% to ₩34,906 Up from ₩32,559, the current price target is an average from 16 analysts. New target price is 30% above last closing price of ₩26,800. Stock is up 17% over the past year. The company is forecast to post earnings per share of ₩2,620 for next year compared to ₩1,900 last year. Major Estimate Revision • Feb 02
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from ₩9.75b to ₩10.3b. EPS estimate increased from ₩2,675 to ₩3,011 per share. Net income forecast to grow 22% next year vs 1.5% growth forecast for Construction industry in South Korea. Consensus price target up from ₩32,559 to ₩33,912. Share price rose 5.7% to ₩25,750 over the past week. 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. 10 experienced directors. No highly experienced directors. 4 independent directors (6 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. Major Estimate Revision • Nov 04
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ₩9.21b to ₩9.60b. EPS estimate increased from ₩2,427 to ₩2,685 per share. Net income forecast to grow 17% next year vs 12% growth forecast for Construction industry in South Korea. Consensus price target broadly unchanged at ₩31,056. Share price rose 7.3% to ₩25,750 over the past week. 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. 10 experienced directors. No highly experienced directors. 4 independent directors (6 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. Reported Earnings • Mar 12
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ₩1,900 (up from ₩1,288 in FY 2020). Revenue: ₩7.49t (up 11% from FY 2020). Net income: ₩372.4b (up 48% from FY 2020). Profit margin: 5.0% (up from 3.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 5.6%, compared to a 10% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 22
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 4.7%. The fair value is estimated to be ₩28,864, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% per annum over the last 3 years. Earnings per share has grown by 29% per annum over the last 3 years. Reported Earnings • Nov 21
Third quarter 2021 earnings released: EPS ₩551 (vs ₩402 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩1.75t (up 7.3% from 3Q 2020). Net income: ₩108.0b (up 37% from 3Q 2020). Profit margin: 6.2% (up from 4.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Price Target Changed • Sep 15
Price target increased to ₩27,792 Up from ₩25,632, the current price target is an average from 25 analysts. New target price is approximately in line with last closing price of ₩26,850. Stock is up 138% over the past year. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improved over the past week After last week's 15% share price gain to ₩26,850, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 5x in the Construction industry in South Korea. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩38,634 per share. Reported Earnings • Aug 23
Second quarter 2021 earnings released: EPS ₩476 (vs ₩331 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₩1.70t (up 1.5% from 2Q 2020). Net income: ₩93.2b (up 44% from 2Q 2020). Profit margin: 5.5% (up from 3.9% in 2Q 2020). Price Target Changed • Aug 01
Price target increased to ₩26,432 Up from ₩24,300, the current price target is an average from 25 analysts. New target price is 13% above last closing price of ₩23,350. Stock is up 96% over the past year. Price Target Changed • Jun 26
Price target increased to ₩22,660 Up from ₩20,620, the current price target is an average from 24 analysts. New target price is 9.4% below last closing price of ₩25,000. Stock is up 111% over the past year. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improved over the past week After last week's 18% share price gain to ₩26,050, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 6x in the Construction industry in South Korea. Total returns to shareholders of 70% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩16,569 per share. Price Target Changed • May 02
Price target increased to ₩17,096 Up from ₩15,888, the current price target is an average from 23 analysts. New target price is approximately in line with last closing price of ₩17,350. Stock is up 51% over the past year. Reported Earnings • Mar 13
Full year 2020 earnings released: EPS ₩1,249 (vs ₩1,493 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ₩6.73t (up 5.6% from FY 2019). Net income: ₩244.8b (down 16% from FY 2019). Profit margin: 3.6% (down from 4.6% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. 
