Reported Earnings • Mar 20
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₩846 (down from ₩945 in FY 2024). Revenue: ₩78.9b (down 1.7% from FY 2024). Net income: ₩13.5b (down 11% from FY 2024). Profit margin: 17% (down from 19% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.2%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in South Korea. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Aankondiging • Feb 27
HRS Co., Ltd, Annual General Meeting, Mar 26, 2026 HRS Co., Ltd, Annual General Meeting, Mar 26, 2026, at 10:00 Tokyo Standard Time. Location: auditorium, 7, chupalsandan 2-gil, paengseong-eup, gyeonggi-do, pyeongtaek South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 09 April 2026. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 7.2%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.3%). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ₩233 (vs ₩194 in 3Q 2024) Third quarter 2025 results: EPS: ₩233 (up from ₩194 in 3Q 2024). Revenue: ₩20.8b (up 10.0% from 3Q 2024). Net income: ₩3.72b (up 20% from 3Q 2024). Profit margin: 18% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Declared Dividend • Nov 13
First half dividend of ₩300 announced Shareholders will receive a dividend of ₩300. Ex-date: 29th December 2025 Payment date: 9th April 2026 Dividend yield will be 7.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (44% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 54% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 25% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Sep 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 November 2025. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 7.4%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.4%). Declared Dividend • Aug 18
First half dividend of ₩100.00 announced Shareholders will receive a dividend of ₩100.00. Ex-date: 29th September 2025 Payment date: 5th November 2025 Dividend yield will be 7.4%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (44% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 54% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 25% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ₩239 (vs ₩239 in 2Q 2024) Second quarter 2025 results: EPS: ₩239 (in line with 2Q 2024). Revenue: ₩20.3b (down 6.3% from 2Q 2024). Net income: ₩3.81b (flat on 2Q 2024). Profit margin: 19% (up from 18% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: ₩945 (vs ₩758 in FY 2023) Full year 2024 results: EPS: ₩945 (up from ₩758 in FY 2023). Revenue: ₩80.2b (up 2.6% from FY 2023). Net income: ₩15.1b (up 25% from FY 2023). Profit margin: 19% (up from 16% in FY 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Aankondiging • Feb 25
HRS Co., Ltd, Annual General Meeting, Mar 26, 2025 HRS Co., Ltd, Annual General Meeting, Mar 26, 2025, at 10:00 Tokyo Standard Time. Location: auditorium, 7, chupalsandan 2-gil, paengseong-eup, gyeonggi-do, pyeongtaek South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 09 April 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (2.2%). Declared Dividend • Nov 16
Dividend of ₩200 announced Shareholders will receive a dividend of ₩200. Ex-date: 27th December 2024 Payment date: 9th April 2025 Dividend yield will be 6.2%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 46% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 8.8% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: ₩194 (vs ₩183 in 3Q 2023) Third quarter 2024 results: EPS: ₩194 (up from ₩183 in 3Q 2023). Revenue: ₩18.9b (down 4.7% from 3Q 2023). Net income: ₩3.10b (up 6.0% from 3Q 2023). Profit margin: 16% (up from 15% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 16% per year. 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 (₩87.7b market cap, or US$66.7m). Reported Earnings • May 18
First quarter 2024 earnings released: EPS: ₩243 (vs ₩154 in 1Q 2023) First quarter 2024 results: EPS: ₩243 (up from ₩154 in 1Q 2023). Revenue: ₩20.5b (up 7.4% from 1Q 2023). Net income: ₩3.88b (up 58% from 1Q 2023). Profit margin: 19% (up from 13% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: ₩758 (vs ₩628 in FY 2022) Full year 2023 results: EPS: ₩758 (up from ₩628 in FY 2022). Revenue: ₩78.2b (down 9.2% from FY 2022). Net income: ₩12.1b (up 21% from FY 2022). Profit margin: 16% (up from 12% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 11% 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. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share at 3.7% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 08 April 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.8%). Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩183 (vs ₩121 in 3Q 2022) Third quarter 2023 results: EPS: ₩183 (up from ₩121 in 3Q 2022). Revenue: ₩19.8b (down 2.5% from 3Q 2022). Net income: ₩2.93b (up 51% from 3Q 2022). Profit margin: 15% (up from 9.5% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩5,850, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 169% over the past three years. Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: ₩628 (vs ₩1,303 in FY 2021) Full year 2022 results: EPS: ₩628 (down from ₩1,303 in FY 2021). Revenue: ₩86.1b (up 2.4% from FY 2021). Net income: ₩10.0b (down 52% from FY 2021). Profit margin: 12% (down from 25% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 44% per year. Upcoming Dividend • Dec 21
Upcoming dividend of ₩200 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 10 April 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 3.5%. 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 • Jun 28
Investor sentiment improved over the past week After last week's 16% share price gain to ₩6,240, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 151% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩6,230, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Chemicals industry in South Korea. Total returns to shareholders of 140% over the past three years. Reported Earnings • Mar 11
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: ₩1,303 (up from ₩571 in FY 2020). Revenue: ₩84.1b (up 25% from FY 2020). Net income: ₩20.8b (up 126% from FY 2020). Profit margin: 25% (up from 14% in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 19%, compared to a 22% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improved over the past week After last week's 18% share price gain to ₩7,530, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 152% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 11 April 2022. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩6,660, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 137% over the past three years. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS ₩191 (vs ₩164 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: ₩21.0b (up 23% from 3Q 2020). Net income: ₩3.05b (up 16% from 3Q 2020). Profit margin: 14% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improved over the past week After last week's 21% share price gain to ₩9,160, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 20x in the Chemicals industry in South Korea. Total returns to shareholders of 213% over the past three years. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 23% share price gain to ₩6,800, the stock trades at a trailing P/E ratio of 6.1x. Average forward P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 103% over the past three years. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 17% share price gain to ₩6,470, the stock trades at a trailing P/E ratio of 10.2x. Average forward P/E is 10x in the Chemicals industry in South Korea. Total returns to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₩6,040, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 46% over the past three years. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS ₩571 (vs ₩60.00 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩67.4b (up 1.0% from FY 2019). Net income: ₩9.21b (up ₩8.23b from FY 2019). Profit margin: 14% (up from 1.5% in FY 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩5,810, the stock is trading at a trailing P/E ratio of 13.6x, down from the previous P/E ratio of 16.5x. This compares to an average P/E of 17x in the Chemicals industry in South Korea. Total returns to shareholders over the past three years are 30%. Is New 90 Day High Low • Feb 15
New 90-day high: ₩7,140 The company is up 72% from its price of ₩4,145 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 Chemicals industry, which is up 31% over the same period. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 24% share price gain to ₩6,730, the stock is trading at a trailing P/E ratio of 15.7x, up from the previous P/E ratio of 12.6x. This compares to an average P/E of 18x in the Chemicals industry in South Korea. Total returns to shareholders over the past three years are 48%. Is New 90 Day High Low • Jan 25
New 90-day high: ₩5,750 The company is up 67% from its price of ₩3,445 on 27 October 2020. The South Korean market is up 33% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 40% over the same period. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₩5,500, the stock is trading at a trailing P/E ratio of 12.8x, up from the previous P/E ratio of 11.1x. This compares to an average P/E of 15x in the Chemicals industry in South Korea. Total returns to shareholders over the past three years are 31%. Is New 90 Day High Low • Dec 29
New 90-day high: ₩5,500 The company is up 59% from its price of ₩3,470 on 29 September 2020. The South Korean market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: ₩4,445 The company is up 17% from its price of ₩3,800 on 11 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 13% over the same period. Reported Earnings • Nov 18
Third quarter 2020 earnings released: EPS ₩164 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩17.2b (up 1.1% from 3Q 2019). Net income: ₩2.63b (up 437% from 3Q 2019). Profit margin: 15% (up from 2.9% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 23% 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 • Nov 09
New 90-day high: ₩4,080 The company is up 24% from its price of ₩3,300 on 11 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 6.0% over the same period. Is New 90 Day High Low • Oct 12
New 90-day high: ₩3,970 The company is up 16% from its price of ₩3,435 on 14 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 30% over the same period.