Upcoming Dividend • Mar 23
Upcoming dividend of ₩400 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 May 2026. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 3.7%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.3%). 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 ₩48,000, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 44x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 484% over the past three years. New Risk • Feb 24
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: 8.6% Last year net profit margin: 16% 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 High level of non-cash earnings (30% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (8.6% net profit margin). Aankondiging • Jan 30
Snt Dynamics Co.,Ltd., Annual General Meeting, Feb 27, 2026 Snt Dynamics Co.,Ltd., Annual General Meeting, Feb 27, 2026, at 10:30 Tokyo Standard Time. Location: auditorium, 599, nammyeon-ro, seongsan-gu, gyeongsangnam-do, changwon South Korea Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩55,000, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 36x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 577% over the past three years. Buy Or Sell Opportunity • Jan 08
Now 21% overvalued Over the last 90 days, the stock has fallen 26% to ₩50,900. The fair value is estimated to be ₩42,198, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 48%. Revenue is forecast to grow by 12% in a year. Earnings are forecast to grow by 22% in the next year. Upcoming Dividend • Dec 22
Upcoming dividend of ₩1,000 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 17 March 2026. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 4.1%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.5%). Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩47,500, the stock trades at a trailing P/E ratio of 13.7x. Average forward P/E is 31x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 525% over the past three years. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ₩749 (vs ₩779 in 3Q 2024) Third quarter 2025 results: EPS: ₩749 (down from ₩779 in 3Q 2024). Revenue: ₩151.7b (down 7.3% from 3Q 2024). Net income: ₩17.2b (down 1.7% from 3Q 2024). Profit margin: 11% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. 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 ₩55,600, the stock trades at a trailing P/E ratio of 15.2x. Average forward P/E is 32x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 653% over the past three years. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩73,700, the stock trades at a trailing P/E ratio of 20.1x. Average forward P/E is 32x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 828% over the past three years. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩65,800, the stock trades at a trailing P/E ratio of 18x. Average forward P/E is 32x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 599% over the past three years. Reported Earnings • Aug 19
Second quarter 2025 earnings released: EPS: ₩1,251 (vs ₩2,100 in 2Q 2024) Second quarter 2025 results: EPS: ₩1,251 (down from ₩2,100 in 2Q 2024). Revenue: ₩186.5b (up 29% from 2Q 2024). Net income: ₩28.0b (down 40% from 2Q 2024). Profit margin: 15% (down from 32% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩54,400, the stock trades at a trailing P/E ratio of 12.1x. Average forward P/E is 35x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 887% over the past three years. Upcoming Dividend • Jun 20
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 20 August 2025. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.5%). Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩47,150, the stock trades at a trailing P/E ratio of 10.5x. Average forward P/E is 30x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 552% over the past three years. Buy Or Sell Opportunity • May 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 33% to ₩40,950. The fair value is estimated to be ₩34,075, however this is not to be taken as a sell 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 69%. New Risk • May 20
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 High level of non-cash earnings (48% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.0% average weekly change). Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩39,000, the stock trades at a trailing P/E ratio of 8.6x. Average forward P/E is 32x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 462% over the past three years. Reported Earnings • May 18
First quarter 2025 earnings released: EPS: ₩793 (vs ₩575 in 1Q 2024) First quarter 2025 results: EPS: ₩793 (up from ₩575 in 1Q 2024). Revenue: ₩150.1b (up 32% from 1Q 2024). Net income: ₩17.8b (up 38% from 1Q 2024). Profit margin: 12% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 35% to ₩34,250. The fair value is estimated to be ₩28,279, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 53%. Revenue is forecast to grow by 19% in a year. Earnings are forecast to decline by 17% in the next year. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩32,750, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 23x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 370% over the past three years. New Risk • Mar 21
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 High level of non-cash earnings (36% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.4% average weekly change). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩34,900, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 27x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 394% over the past three years. Reported Earnings • Feb 21
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₩4,293 (up from ₩2,212 in FY 2023). Revenue: ₩614.5b (up 26% from FY 2023). Net income: ₩96.1b (up 94% from FY 2023). Profit margin: 16% (up from 10% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.1%. Earnings per share (EPS) also surpassed analyst estimates by 104%. Over the last 3 years on average, earnings per share has increased by 53% per year whereas the company’s share price has increased by 56% per year. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩28,800, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 24x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 315% over the past three years. Aankondiging • Feb 05
Snt Dynamics Co.,Ltd., Annual General Meeting, Feb 28, 2025 Snt Dynamics Co.,Ltd., Annual General Meeting, Feb 28, 2025, at 10:30 Tokyo Standard Time. Location: auditorium, 599, nammyeon-ro, seongsan-gu, gyeongsangnam-do, changwon South Korea Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩23,750, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 21x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 245% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩550 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 13 March 2025. Payout ratio is a comfortable 20% but the company is paying out more than the cash it is generating. Trailing yield: 5.5%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (0.9%). Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩16,970, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 18x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 122% over the past three years. Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩20,200, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 24x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 178% over the past three years. Reported Earnings • Nov 11
Third quarter 2024 earnings released: EPS: ₩779 (vs ₩602 in 3Q 2023) Third quarter 2024 results: EPS: ₩779 (up from ₩602 in 3Q 2023). Revenue: ₩163.7b (up 22% from 3Q 2023). Net income: ₩17.5b (up 30% from 3Q 2023). Profit margin: 11% (in line with 3Q 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Aerospace & Defense industry in South Korea. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Sep 23
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 9.3% 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 are forecast to decline by an average of 19% per year for the foreseeable future. Minor Risks 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 (9.3% average weekly change). New Risk • Sep 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 19% 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 Risk Earnings are forecast to decline by an average of 19% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. 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. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: ₩2,100 (vs ₩401 in 2Q 2023) Second quarter 2024 results: EPS: ₩2,100 (up from ₩401 in 2Q 2023). Revenue: ₩145.1b (up 42% from 2Q 2023). Net income: ₩47.0b (up 424% from 2Q 2023). Profit margin: 32% (up from 8.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in South Korea. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 20
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 19 August 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.9%). Major Estimate Revision • Feb 28
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₩1,495 to ₩1,654. Revenue forecast steady at ₩548.6m. Net income forecast to grow 11% next year vs 11% growth forecast for Aerospace & Defense industry in South Korea. Consensus price target of ₩18,000 unchanged from last update. Share price rose 9.1% to ₩18,390 over the past week. New Risk • Feb 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.3% 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 Risk Earnings are forecast to decline by an average of 4.3% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Dec 20
Upcoming dividend of ₩350 per share at 3.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 11 March 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.9%). Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩16,170, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 254% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩29,166 per share. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩15,550, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 223% over the past three years. Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: ₩602 (vs ₩262 in 3Q 2022) Third quarter 2023 results: EPS: ₩602 (up from ₩262 in 3Q 2022). Revenue: ₩134.4b (up 46% from 3Q 2022). Net income: ₩13.5b (up 130% from 3Q 2022). Profit margin: 10.0% (up from 6.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩14,000, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 204% over the past three years. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩12,310, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 161% over the past three years. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: ₩401 (vs ₩281 in 2Q 2022) Second quarter 2023 results: EPS: ₩401 (up from ₩281 in 2Q 2022). Revenue: ₩101.9b (up 13% from 2Q 2022). Net income: ₩8.98b (up 43% from 2Q 2022). Profit margin: 8.8% (up from 7.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Aerospace & Defense industry in South Korea. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of ₩150 per share at 4.8% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 21 August 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of South Korean dividend payers (3.2%). Higher than average of industry peers (1.0%). Reported Earnings • May 17
First quarter 2023 earnings released: EPS: ₩485 (vs ₩227 in 1Q 2022) First quarter 2023 results: EPS: ₩485 (up from ₩227 in 1Q 2022). Revenue: ₩102.8b (up 23% from 1Q 2022). Net income: ₩10.9b (up 114% from 1Q 2022). Profit margin: 11% (up from 6.1% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Aerospace & Defense industry in South Korea. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩10,090, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 16x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 115% over the past three years. Reported Earnings • Feb 23
Full year 2022 earnings released: EPS: ₩1,027 (vs ₩2,666 in FY 2021) Full year 2022 results: EPS: ₩1,027 (down from ₩2,666 in FY 2021). Revenue: ₩408.0b (up 22% from FY 2021). Net income: ₩23.0b (down 61% from FY 2021). Profit margin: 5.6% (down from 18% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 1.1% growth forecast for the Aerospace & Defense industry in South Korea. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year. Upcoming Dividend • Dec 21
Upcoming dividend of ₩250 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 08 March 2023. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 4.3%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (0.9%). Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 15% share price gain to ₩10,450, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 18x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 78% over the past three years. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. No independent directors (6 non-independent directors). Chairman Soonhoon Bae was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: ₩807 (vs ₩132 in 3Q 2021) Third quarter 2022 results: EPS: ₩807 (up from ₩132 in 3Q 2021). Revenue: ₩102.6b (up 45% from 3Q 2021). Net income: ₩18.1b (up ₩15.2b from 3Q 2021). Profit margin: 18% (up from 4.1% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 18% share price gain to ₩10,350, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 25x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 102% over the past three years. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 25% share price gain to ₩12,150, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 34x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 129% over the past three years. Aankondiging • Jul 22
Snt Dynamics Co.,Ltd. (KOSE:A003570) agreed to acquire 52.28% stake in Korea Heat Exchanger Co.,Ltd. Snt Dynamics Co.,Ltd. (KOSE:A003570) agreed to acquire 52.28% stake in Korea Heat Exchanger Co.,Ltd. for approximately KRW 35,050 million on July 20, 2022. Snt Dynamics Co.,Ltd. is acquiring 54,060,018 shares in Korea Heat Exchanger Co.,Ltd. Korea Heat Exchanger Co.,Ltd. generated the Total assets of KRW 77,364 million, total equity of KRW 71,278 million and Net Income of KRW 1,388 million for the financial year 2021. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 19% share price gain to ₩7,820, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 28x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 34% over the past three years. Upcoming Dividend • Jun 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 22 August 2022. Payout ratio is on the higher end at 91% but the company is not cash flow positive. Trailing yield: 6.6%. Within top quartile of South Korean dividend payers (3.2%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩7,550, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 31x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 24% over the past three years. Buying Opportunity • Jun 13
Now 24% undervalued Over the last 90 days, the stock is up 6.2%. The fair value is estimated to be ₩11,684, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.7% over the last 3 years. Earnings per share has grown by 36%. Buying Opportunity • May 06
Now 22% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be ₩11,756, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.8% over the last 3 years. Earnings per share has grown by 51%. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. No independent directors (6 non-independent directors). Chairman Soonhoon Bae was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 22
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ₩2,666 (up from ₩329 in FY 2020). Revenue: ₩336.0b (up 11% from FY 2020). Net income: ₩59.0b (up ₩50.7b from FY 2020). Profit margin: 18% (up from 2.8% in FY 2020). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 374%. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 08 March 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.2%). Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS ₩132 (vs ₩8.00 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩70.6b (up 18% from 3Q 2020). Net income: ₩2.88b (up ₩3.06b from 3Q 2020). Profit margin: 4.1% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2021 earnings released: EPS ₩160 (vs ₩132 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: ₩86.3b (up 24% from 2Q 2020). Net income: ₩3.59b (up 3.9% from 2Q 2020). Profit margin: 4.2% (down from 4.9% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 21 August 2021. Trailing yield: 2.9%. Within top quartile of South Korean dividend payers (2.1%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 22% share price gain to ₩11,100, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 18x in the Aerospace & Defense industry in South Korea. Total returns to shareholders of 100% over the past three years. Reported Earnings • May 16
First quarter 2021 earnings released: EPS ₩2,374 (vs ₩126 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ₩70.3b (down 4.2% from 1Q 2020). Net income: ₩54.5b (up ₩51.1b from 1Q 2020). Profit margin: 78% (up from 4.6% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Aankondiging • May 14
SNT DYNAMICS CO.,Ltd (KOSE:A003570) announces an Equity Buyback for KRW 10,000 million worth of its shares. SNT DYNAMICS CO.,Ltd (KOSE:A003570) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a contract with KB Securities Co., Ltd. The purpose of the program is to improve shareholder value and stabilize stock prices. The program will expire on November 12, 2021. As of May 12, 2021, the company had 10,895,072 shares in treasury within the scope available for dividend and had 1,152 shares in treasury through other repurchases. Reported Earnings • Feb 21
Full year 2020 earnings released: EPS ₩329 (vs ₩622 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩301.8b (down 20% from FY 2019). Net income: ₩8.34b (down 50% from FY 2019). Profit margin: 2.8% (down from 4.4% in FY 2019). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 15
New 90-day high: ₩6,740 The company is up 21% from its price of ₩5,590 on 17 November 2020. The South Korean market is also up 21% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Aerospace & Defense industry, which is up 57% over the same period.