Reported Earnings • Mar 25
Full year 2025 earnings released: EPS: ₩175 (vs ₩1,741 in FY 2024) Full year 2025 results: EPS: ₩175 (down from ₩1,741 in FY 2024). Revenue: ₩160.2b (up 252% from FY 2024). Net income: ₩1.30b (down 90% from FY 2024). Profit margin: 0.8% (down from 28% in FY 2024). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. 공시 • Mar 13
Atec Co. Ltd., Annual General Meeting, Mar 27, 2026 Atec Co. Ltd., Annual General Meeting, Mar 27, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 289, pangyo-ro, bundang-gu, gyeonggi-do, seongnam South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩8,790, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 12x in the Tech industry in South Korea. Total returns to shareholders of 1.6% over the past three years. New Risk • Nov 29
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 48% 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 (48% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (15% net profit margin). Market cap is less than US$100m (₩75.9b market cap, or US$51.7m). New Risk • Aug 30
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2012. 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 2012 fiscal period end). Minor Risk Market cap is less than US$100m (₩94.8b market cap, or US$68.4m). New Risk • Jun 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩118.8b (US$87.2m) 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 Risks Share price has been highly volatile over the past 3 months (17% average weekly change). High level of non-cash earnings (48% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩118.8b market cap, or US$87.2m). Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩16,180, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 6x in the Tech industry in South Korea. Total returns to shareholders of 43% 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: 48% 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 Share price has been highly volatile over the past 3 months (17% average weekly change). High level of non-cash earnings (48% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩24,550, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 16x in the Tech industry in South Korea. Total returns to shareholders of 108% over the past three years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩33,950, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 16x in the Tech industry in South Korea. Total returns to shareholders of 162% over the past three years. New Risk • Mar 30
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: 26% Last year net profit margin: 92% 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 Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (26% net profit margin). Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩26,650, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 11x in the Tech industry in South Korea. Total returns to shareholders of 104% over the past three years. 공시 • Mar 12
Atec Co. Ltd., Annual General Meeting, Mar 28, 2025 Atec Co. Ltd., Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 289, pangyo-ro, bundang-gu, gyeonggi-do, seongnam South Korea Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩29,850, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 10x in the Tech industry in South Korea. Total returns to shareholders of 101% over the past three years. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩26,750, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 11x in the Tech industry in South Korea. Total returns to shareholders of 29% over the past three years. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩34,400, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 10x in the Tech industry in South Korea. Total returns to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩28,000, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 12x in the Tech industry in South Korea. Total returns to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to ₩18,770, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 8x in the Tech industry in South Korea. Total loss to shareholders of 11% over the past three years. New Risk • Dec 02
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 57% 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 Share price has been highly volatile over the past 3 months (13% average weekly change). High level of non-cash earnings (57% accrual ratio). Minor Risks Less than 3 years of financial data is available. Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩104.1b market cap, or US$74.1m). Buy Or Sell Opportunity • Nov 25
Now 31% overvalued after recent price rise Over the last 90 days, the stock has risen 9.8% to ₩16,190. The fair value is estimated to be ₩12,324, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last year, while earnings per share has been flat. New Risk • Nov 18
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 8.4% 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 Revenue has declined by 15% over the past year. Minor Risks Less than 3 years of financial data is available. Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (₩89.6b market cap, or US$64.3m). Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₩13,090, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 9x in the Tech industry in South Korea. Total loss to shareholders of 38% over the past three years. Buy Or Sell Opportunity • Oct 25
Now 21% overvalued Over the last 90 days, the stock has fallen 5.4% to ₩14,840. The fair value is estimated to be ₩12,312, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last year, while earnings per share has been flat. Buy Or Sell Opportunity • Oct 10
Now 21% overvalued Over the last 90 days, the stock has fallen 12% to ₩14,410. The fair value is estimated to be ₩11,949, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last year, while earnings per share has been flat. 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 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 (₩119.8b market cap, or US$91.0m). Buy Or Sell Opportunity • Sep 06
Now 23% overvalued Over the last 90 days, the stock has fallen 12% to ₩14,680. The fair value is estimated to be ₩11,947, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last year, while earnings per share has been flat. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩13,160, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 12x in the Tech industry in South Korea. Total loss to shareholders of 57% over the past three years. 공시 • May 30
Atec Co. Ltd. (KOSDAQ:A045660) agreed to acquire Production and Sales Business of financialized automatic equipment products of Atec Ap Co. Ltd for KRW 43.8 billion. Atec Co. Ltd. (KOSDAQ:A045660) agreed to acquire Production and Sales Business of financialized automatic equipment products of Atec Ap Co. Ltd for KRW 43.8 billion on May 28, 2024. The transaction will be financed from cash on hand and borrowing from financial institutions. The transaction is expected to close on August 31, 2024. Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩17,920, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 11x in the Tech industry in South Korea. Total loss to shareholders of 49% over the past three years. 공시 • Apr 09
Atec Co. Ltd. (KOSDAQ:A045660) announces an Equity Buyback for KRW 4,000 million worth of its shares. Atec Co. Ltd. (KOSDAQ:A045660) announces a share repurchase program. Under the program, the company will repurchase up to KRW 4,000 million worth of its shares according to the contract with Samsung Securities. The purpose of the program is stock price stability and shareholder value enhancement. The program will expire on October 8, 2024. As of April 8, 2024, the company had 497,719 treasury shares holdings which were acquired within the scope of dividends and 0 shares through other acquisition. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₩15,000, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 11x in the Tech industry in South Korea. Total loss to shareholders of 59% over the past three years. New Risk • Apr 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 9.0% 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 Revenue has declined by 24% over the past year. Minor Risks Less than 3 years of financial data is available. Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (₩118.8b market cap, or US$88.2m). Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share at 1.6% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 03 April 2024. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.0%). 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. Trailing yield: 1.2%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.5%). 공시 • Sep 27
Atec Co. Ltd. (KOSDAQ:A045660) announces an Equity Buyback for KRW 2,000 million worth of its shares. Atec Co. Ltd. (KOSDAQ:A045660) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares according to the contract with Samsung Securities. The purpose of the program is stock price stability and shareholder value enhancement. The program will expire on March 25, 2023. As of September 25, 2022, the company had 326,098 treasury shares holdings which were acquired within the scope of dividends and 0 shares through other acquisition. Upcoming Dividend • Dec 22
Inaugural dividend of ₩200 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 31 March 2022. The company is not currently making a profit and is not cash flow positive. This is the first dividend for Atec since going public. The average dividend yield among industry peers is 1.8%. Is New 90 Day High Low • Feb 26
New 90-day low: ₩29,100 The company is down 1.0% from its price of ₩29,350 on 27 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 25% over the same period. 공시 • Feb 17
Atec Co. Ltd., Annual General Meeting, Mar 19, 2021 Atec Co. Ltd., Annual General Meeting, Mar 19, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Nov 25
New 90-day low: ₩29,600 The company is down 21% from its price of ₩37,300 on 28 August 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 22% over the same period.