Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: ₩295 (vs ₩828 in FY 2024) Full year 2025 results: EPS: ₩295 (down from ₩828 in FY 2024). Revenue: ₩310.2b (down 6.0% from FY 2024). Net income: ₩3.16b (down 64% from FY 2024). Profit margin: 1.0% (down from 2.7% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. 공시 • Mar 06
S&K Polytec Co., Ltd., Annual General Meeting, Mar 20, 2026 S&K Polytec Co., Ltd., Annual General Meeting, Mar 20, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 69, cheongwonsandan 1-gil, mado-myeon, gyeonggi-do, hwaseong South Korea 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 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 Risks Latest financial reports are more than 1 year old (reported September 2013 fiscal period end). High level of non-cash earnings (45% accrual ratio). Minor Risk Market cap is less than US$100m (₩25.6b market cap, or US$18.5m). New Risk • Aug 29
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: 0.8% Last year net profit margin: 1.6% 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: Minor Risks Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (₩26.1b market cap, or US$18.8m). Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: ₩828 (vs ₩549 loss in FY 2023) Full year 2024 results: EPS: ₩828 (up from ₩549 loss in FY 2023). Revenue: ₩330.1b (up 32% from FY 2023). Net income: ₩8.87b (up ₩14.7b from FY 2023). Profit margin: 2.7% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. 공시 • Mar 06
S&K Polytec Co., Ltd., Annual General Meeting, Mar 21, 2025 S&K Polytec Co., Ltd., Annual General Meeting, Mar 21, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 515, sihwabencheo-ro, danwon-gu, gyeonggi-do, ansan South Korea New Risk • Feb 27
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 10% 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 Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩35.5b market cap, or US$24.6m). Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩3,315, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 11x in the Chemicals industry in South Korea. Total loss to shareholders of 32% over the past three years. New Risk • Dec 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 Market cap is less than US$100m (₩27.6b market cap, or US$19.2m). Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩2,820, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 10x in the Chemicals industry in South Korea. Total loss to shareholders of 47% over the past three years. Reported Earnings • Mar 19
Full year 2023 earnings released: ₩549 loss per share (vs ₩117 loss in FY 2022) Full year 2023 results: ₩549 loss per share (further deteriorated from ₩117 loss in FY 2022). Revenue: ₩251.1b (down 25% from FY 2022). Net loss: ₩5.88b (loss widened 385% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Dec 21
Upcoming dividend of ₩250 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 05 April 2023. Payout ratio is a comfortable 67% but the company is not cash flow positive. Trailing yield: 6.7%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 19% share price gain to ₩3,800, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total loss to shareholders of 29% over the past three years. Buying Opportunity • Jun 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be ₩5,046, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Dec 22
Upcoming dividend of ₩250 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 04 April 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.4%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.5%). Reported Earnings • Mar 21
Full year 2020 earnings released: ₩556 loss per share (vs ₩1,368 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ₩255.0b (down 25% from FY 2019). Net loss: ₩6.23b (down 141% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 10
New 90-day high: ₩5,410 The company is up 12% from its price of ₩4,840 on 12 November 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 30% over the same period. Is New 90 Day High Low • Dec 21
New 90-day high: ₩5,110 The company is up 3.0% from its price of ₩4,950 on 22 September 2020. The South Korean market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 22% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: ₩4,575 The company is down 20% from its price of ₩5,720 on 31 July 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 18% over the same period.