Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩3,805, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 29x in the Semiconductor industry in South Korea. Total loss to shareholders of 43% over the past three years. New Risk • Mar 19
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2024. 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 December 2024 fiscal period end). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.4% net profit margin). Market cap is less than US$100m (₩33.1b market cap, or US$22.1m). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩2,635, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 22x in the Semiconductor industry in South Korea. Total loss to shareholders of 57% over the past three years. 공시 • Feb 27
HIMS Co.,Ltd., Annual General Meeting, Mar 26, 2026 HIMS Co.,Ltd., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 126, namdongseo-ro, namdong-gu, incheon South Korea New Risk • Oct 04
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.4% net profit margin). Market cap is less than US$100m (₩42.5b market cap, or US$30.2m). Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩3,750, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total loss to shareholders of 58% over the past three years. Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: ₩244 (vs ₩511 in FY 2023) Full year 2024 results: EPS: ₩244 (down from ₩511 in FY 2023). Revenue: ₩61.3b (up 22% from FY 2023). Net income: ₩2.71b (down 52% from FY 2023). Profit margin: 4.4% (down from 11% in FY 2023). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. 공시 • Feb 26
HIMS Co.,Ltd., Annual General Meeting, Mar 26, 2025 HIMS Co.,Ltd., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 126, namdongseo-ro, namdong-gu, incheon 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 33% but the company is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (0.8%). Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩174 (vs ₩496 in 3Q 2023) Third quarter 2024 results: EPS: ₩174 (down from ₩496 in 3Q 2023). Revenue: ₩21.6b (up 13% from 3Q 2023). Net income: ₩1.93b (down 65% from 3Q 2023). Profit margin: 8.9% (down from 28% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. 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 ₩4,660, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total loss to shareholders of 47% over the past three years. New Risk • Aug 05
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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: Major Risk Earnings have declined by 39% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩49.4b market cap, or US$36.2m). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: ₩269 (vs ₩231 loss in 1Q 2023) First quarter 2024 results: EPS: ₩269 (up from ₩231 loss in 1Q 2023). Revenue: ₩23.5b (up ₩21.1b from 1Q 2023). Net income: ₩2.94b (up ₩5.47b from 1Q 2023). Profit margin: 13% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩496 (vs ₩239 loss in 3Q 2022) Third quarter 2023 results: EPS: ₩496 (up from ₩239 loss in 3Q 2022). Revenue: ₩19.1b (up 234% from 3Q 2022). Net income: ₩5.43b (up ₩8.06b from 3Q 2022). Profit margin: 28% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 26
Full year 2022 earnings released: ₩783 loss per share (vs ₩39.00 loss in FY 2021) Full year 2022 results: ₩783 loss per share (further deteriorated from ₩39.00 loss in FY 2021). Revenue: ₩31.5b (down 38% from FY 2021). Net loss: ₩8.65b (loss widened ₩8.20b from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 119 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Dec 21
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 03 April 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.3%). In line with average of industry peers (1.8%). Upcoming Dividend • Dec 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 01 April 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.9%). Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩11,050, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 23x in the Semiconductor industry in South Korea. Total returns to shareholders of 44% over the past three years. 공시 • Feb 22
HIMS Co., Ltd., Annual General Meeting, Mar 24, 2021 HIMS Co., Ltd., Annual General Meeting, Mar 24, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Feb 17
New 90-day high: ₩15,050 The company is up 17% from its price of ₩12,850 on 19 November 2020. The South Korean market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 33% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: ₩13,950 The company is up 4.0% from its price of ₩13,400 on 22 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 44% over the same period. Upcoming Dividend • Dec 22
First Dividend Is ₩100.00 Per Share Will be paid on the 2nd of April to those who are registered shareholders by the 29th of December. This is the first dividend for HIMS since going public. The average dividend yield among industry peers is 0.8%. Is New 90 Day High Low • Oct 06
New 90-day high: ₩13,900 The company is up 5.0% from its price of ₩13,300 on 08 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Semiconductor industry, which is up 3.0% over the same period.