Buy Or Sell Opportunity • Jun 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to ₩13,310. The fair value is estimated to be ₩16,949, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has declined by 17%. Buy Or Sell Opportunity • Jun 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.2% to ₩13,310. The fair value is estimated to be ₩16,718, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has declined by 17%. New Risk • May 28
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: 3.8% Last year net profit margin: 5.5% 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. This is currently the only risk that has been identified for the company. 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 ₩13,890, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 9x in the Transportation industry in South Korea. Total loss to shareholders of 65% over the past three years. 공고 • Mar 04
Sebang Co., Ltd, Annual General Meeting, Mar 30, 2026 Sebang Co., Ltd, Annual General Meeting, Mar 30, 2026, at 11:00 Tokyo Standard Time. Location: conference room, 24, hwangnyeong-daero, busanjin-gu, busan South Korea Buy Or Sell Opportunity • Feb 20
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to ₩16,370. The fair value is estimated to be ₩13,383, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.4% over the last 3 years. Earnings per share has declined by 18%. Upcoming Dividend • Dec 22
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 20 April 2026. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (5.0%). Declared Dividend • Nov 08
Dividend of ₩300 announced Dividend of ₩300 is the same as last year. Ex-date: 29th December 2025 Payment date: 20th April 2026 Dividend yield will be 2.3%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (16% earnings payout ratio) but not covered by cash flows (271% cash payout ratio). The dividend has increased by an average of 9.4% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 34% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공고 • Nov 07
Sebang Co., Ltd announces Annual dividend, payable on April 20, 2026 Sebang Co., Ltd announced Annual dividend of KRW 300.0000 per share payable on April 20, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • May 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: 4.4% Last year net profit margin: 7.5% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: ₩3,950 (vs ₩3,195 in FY 2023) Full year 2024 results: EPS: ₩3,950 (up from ₩3,195 in FY 2023). Revenue: ₩1.37t (up 20% from FY 2023). Net income: ₩85.5b (up 23% from FY 2023). Profit margin: 6.2% (up from 6.1% in FY 2023). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. 공고 • Feb 21
Sebang Co., Ltd, Annual General Meeting, Mar 21, 2025 Sebang Co., Ltd, Annual General Meeting, Mar 21, 2025, at 11:00 Tokyo Standard Time. Location: conference room, 24, hwangnyeong-daero, busanjin-gu, busan South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 21 April 2025. Payout ratio is a comfortable 9.5% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (2.3%). New Risk • Nov 20
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: 6.2% Last year net profit margin: 9.2% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩693 (vs ₩944 in 3Q 2023) Third quarter 2024 results: EPS: ₩693 (down from ₩944 in 3Q 2023). Revenue: ₩335.1b (up 11% from 3Q 2023). Net income: ₩15.0b (down 27% from 3Q 2023). Profit margin: 4.5% (down from 6.8% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Declared Dividend • Nov 14
Dividend of ₩300 announced Shareholders will receive a dividend of ₩300. Ex-date: 27th December 2024 Payment date: 21st April 2025 Dividend yield will be 2.6%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (9% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 11% per year over the past 5 years and payments have been stable during that time. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • May 12
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: 5.1% Last year net profit margin: 8.2% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (5.1% net profit margin). Buy Or Sell Opportunity • Apr 15
Now 20% overvalued Over the last 90 days, the stock has fallen 1.1% to ₩11,480. The fair value is estimated to be ₩9,564, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 28%. New Risk • Mar 29
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: 2.6% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: ₩3,195 (vs ₩4,819 in FY 2022) Full year 2023 results: EPS: ₩3,195 (down from ₩4,819 in FY 2022). Revenue: ₩1.14t (down 12% from FY 2022). Net income: ₩69.8b (down 34% from FY 2022). Profit margin: 6.1% (down from 8.2% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩12,910, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 7x in the Transportation industry in South Korea. Total loss to shareholders of 8.1% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩300 per share at 2.4% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 7.5% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.8%). 공고 • Nov 01
Sebang Co., Ltd (KOSE:A004360) announces an Equity Buyback for KRW 3,000 million worth of its shares. Sebang Co., Ltd (KOSE:A004360) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares according to the contract with NH Investment & Securities. The purpose of the program is stable stock price management and shareholder-friendly policy implementation. The program will expire on October 30, 2024. As of October 30, 2023, the company had 1,126,976 shares in treasury within the scope available for dividend payable and 0 shares through other acquisition. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment deteriorates as stock falls 36% After last week's 36% share price decline to ₩30,150, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 12x in the Infrastructure industry in Asia. Total returns to shareholders of 256% over the past three years. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: ₩4,819 (vs ₩2,342 in FY 2021) Full year 2022 results: EPS: ₩4,819 (up from ₩2,342 in FY 2021). Revenue: ₩1.29t (up 22% from FY 2021). Net income: ₩105.4b (up 101% from FY 2021). Profit margin: 8.2% (up from 5.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has increased by 83% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Feb 08
Now 22% undervalued Over the last 90 days, the stock is up 164%. The fair value is estimated to be ₩63,790, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 35%. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩49,800, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 12x in the Infrastructure industry in Asia. Total returns to shareholders of 437% over the past three years. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improved over the past week After last week's 21% share price gain to ₩32,250, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 12x in the Infrastructure industry in Asia. Total returns to shareholders of 197% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩200 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (4.2%). Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 20% share price gain to ₩28,350, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 11x in the Infrastructure industry in Asia. Total returns to shareholders of 164% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced 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: Insufficient board refreshment. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced 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: Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩190 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 25 April 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (3.3%). Reported Earnings • Mar 21
Full year 2020 earnings released: EPS ₩1,436 (vs ₩296 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩842.2b (up 16% from FY 2019). Net income: ₩32.5b (up 381% from FY 2019). Profit margin: 3.9% (up from 0.9% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 15
New 90-day high: ₩16,500 The company is up 68% from its price of ₩9,830 on 17 November 2020. The South Korean market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is down 1.0% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: ₩12,400 The company is up 29% from its price of ₩9,620 on 08 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: ₩11,050 The company is up 12% from its price of ₩9,840 on 18 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Infrastructure industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 30
New 90-day high: ₩10,300 The company is up 5.0% from its price of ₩9,850 on 01 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 7.0% over the same period. Reported Earnings • Nov 21
Third quarter 2020 earnings released: EPS ₩251 The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: ₩190.7b (flat on 3Q 2019). Net income: ₩5.67b (down 54% from 3Q 2019). Profit margin: 3.0% (down from 6.5% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 16
New 90-day low: ₩9,300 The company is down 14% from its price of ₩10,800 on 17 July 2020. The South Korean market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is down 1.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: ₩9,530 The company is down 9.0% from its price of ₩10,500 on 24 June 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 2.0% over the same period.