Major Estimate Revision • Jul 01
Consensus EPS estimates fall by 69% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₩1.04b to ₩971.1m. EPS estimate also fell from ₩1,525 per share to ₩477 per share. Net income forecast to grow 2,823% next year vs 45% growth forecast for Media industry in South Korea. Consensus price target down from ₩24,750 to ₩21,750. Share price rose 8.6% to ₩12,060 over the past week. New Risk • Apr 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. 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. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Price Target Changed • Mar 19
Price target decreased by 8.7% to ₩25,750 Down from ₩28,200, the current price target is an average from 4 analysts. New target price is 52% above last closing price of ₩16,900. Stock is down 13% over the past year. The company is forecast to post earnings per share of ₩939 for next year compared to ₩1,825 last year. New Risk • Mar 02
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: 1.8% 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. Aankondiging • Feb 27
Seoul Broadcasting System announces Annual dividend Seoul Broadcasting System announced Annual dividend of KRW 330.0000 per share, ex-date on March 30, 2026 and record date on March 31, 2026. Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: ₩560 (vs ₩1,160 loss in 3Q 2024) Third quarter 2025 results: EPS: ₩560 (up from ₩1,160 loss in 3Q 2024). Revenue: ₩239.2b (down 28% from 3Q 2024). Net income: ₩10.4b (up ₩31.9b from 3Q 2024). Profit margin: 4.3% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Revenue is expected to decline by 8.0% p.a. on average during the next 3 years, while revenues in the Media industry in South Korea are expected to grow by 2.6%. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. New Risk • Aug 14
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 8.0% 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: Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩26,900, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 9x in the Media industry in South Korea. Total loss to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩50,712 per share. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩23,750, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Media industry in South Korea. Total loss to shareholders of 50% over the past three years. Major Estimate Revision • Apr 11
Consensus EPS estimates fall by 35%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from ₩986.8m to ₩1.04b. EPS estimate fell from ₩1,874 to ₩1,209 per share. Net income forecast to grow 6.4% next year vs 0.9% growth forecast for Media industry in South Korea. Consensus price target broadly unchanged at ₩27,000. Share price fell 9.4% to ₩17,410 over the past week. Price Target Changed • Mar 20
Price target increased by 8.6% to ₩27,500 Up from ₩25,333, the current price target is an average from 6 analysts. New target price is 41% above last closing price of ₩19,480. Stock is down 35% over the past year. The company is forecast to post a net loss per share of ₩764 compared to earnings per share of ₩2,613 last year. Aankondiging • Feb 28
Seoul Broadcasting System, Annual General Meeting, Mar 28, 2025 Seoul Broadcasting System, Annual General Meeting, Mar 28, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 161, mokdongseo-ro, yangcheon-gu, seoul South Korea Price Target Changed • Feb 05
Price target increased by 9.4% to ₩25,333 Up from ₩23,167, the current price target is an average from 6 analysts. New target price is 9.2% above last closing price of ₩23,200. Stock is down 10% over the past year. The company is forecast to post a net loss per share of ₩965 compared to earnings per share of ₩2,613 last year. Major Estimate Revision • Dec 25
Consensus EPS estimates fall by 60% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ₩226 to ₩89.33 per share. Revenue forecast steady at ₩1.09b. Net income forecast to grow 1,753% next year vs 29% growth forecast for Media industry in South Korea. Consensus price target up from ₩21,500 to ₩23,167. Share price rose 69% to ₩26,050 over the past week. Price Target Changed • Dec 24
Price target increased by 7.8% to ₩23,167 Up from ₩21,500, the current price target is an average from 6 analysts. New target price is 11% below last closing price of ₩26,100. Stock is down 6.3% over the past year. The company is forecast to post a net loss per share of ₩764 compared to earnings per share of ₩2,613 last year. New Risk • Dec 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 12% 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 Dividend is not well covered by earnings and cash flows. Dividend per share is over 8x earnings per share. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Upcoming Dividend • Dec 20
Upcoming dividend of ₩500 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 21 April 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.5%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (5.2%). Price Target Changed • Nov 30
Price target decreased by 12% to ₩21,500 Down from ₩24,500, the current price target is an average from 6 analysts. New target price is 40% above last closing price of ₩15,350. Stock is down 40% over the past year. The company is forecast to post earnings per share of ₩482 for next year compared to ₩2,613 last year. Reported Earnings • Nov 14
Third quarter 2024 earnings released: ₩1,160 loss per share (vs ₩835 profit in 3Q 2023) Third quarter 2024 results: ₩1,160 loss per share (down from ₩835 profit in 3Q 2023). Revenue: ₩331.3b (up 39% from 3Q 2023). Net loss: ₩21.5b (down 246% from profit in 3Q 2023). Revenue is expected to decline by 5.0% p.a. on average during the next 3 years, while revenues in the Media industry in South Korea are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. Declared Dividend • Nov 13
Dividend of ₩500 announced Shareholders will receive a dividend of ₩500. Ex-date: 27th December 2024 Payment date: 21st April 2025 Dividend yield will be 3.4%, which is lower than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but not covered by cash flows (102% cash payout ratio). The dividend has increased by an average of 27% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 101% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Sep 28
Consensus EPS estimates increase by 21% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₩946 to ₩1,141. Revenue forecast steady at ₩1.09b. Net income forecast to shrink 39% next year vs 14% growth forecast for Media industry in South Korea . Consensus price target down from ₩26,667 to ₩24,500. Share price rose 5.2% to ₩15,860 over the past week. Major Estimate Revision • Aug 22
Consensus EPS estimates fall by 65%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from ₩1.02b to ₩1.08b. EPS estimate fell from ₩2,717 to ₩946 per share. Net income forecast to shrink 39% next year vs 13% growth forecast for Media industry in South Korea . Consensus price target down from ₩30,857 to ₩26,667. Share price rose 3.3% to ₩16,040 over the past week. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: ₩270 (vs ₩1,179 in 2Q 2023) Second quarter 2024 results: EPS: ₩270 (down from ₩1,179 in 2Q 2023). Revenue: ₩275.0b (up 1.4% from 2Q 2023). Net income: ₩5.01b (down 76% from 2Q 2023). Profit margin: 1.8% (down from 7.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.0% growth forecast for the Media industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 32% per year. Price Target Changed • Jun 06
Price target decreased by 9.2% to ₩30,857 Down from ₩34,000, the current price target is an average from 7 analysts. New target price is 60% above last closing price of ₩19,240. Stock is down 41% over the past year. The company is forecast to post earnings per share of ₩1,292 for next year compared to ₩2,613 last year. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: ₩697 (vs ₩338 in 1Q 2023) First quarter 2024 results: EPS: ₩697 (up from ₩338 in 1Q 2023). Revenue: ₩209.6b (down 3.7% from 1Q 2023). Net income: ₩12.9b (up 116% from 1Q 2023). Profit margin: 6.2% (up from 2.7% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.1% growth forecast for the Media industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Mar 30
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₩2,238 to ₩2,559. Revenue forecast steady at ₩1.02b. Net income forecast to grow 5.8% next year vs 15% growth forecast for Media industry in South Korea. Consensus price target broadly unchanged at ₩35,143. Share price fell 9.6% to ₩26,000 over the past week. New Risk • Mar 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.6% net profit margin). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Reported Earnings • Mar 26
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ₩2,613 (down from ₩7,482 in FY 2022). Revenue: ₩996.8b (down 15% from FY 2022). Net income: ₩46.3b (down 65% from FY 2022). Profit margin: 4.6% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 22%. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Media industry in South Korea. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. New Risk • Feb 10
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 8.0% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.0% average weekly change). Profit margins are more than 30% lower than last year (6.2% net profit margin). Upcoming Dividend • Dec 20
Upcoming dividend of ₩1,000 per share at 3.7% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 12 April 2024. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 3.7%. Within top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (4.2%). New Risk • Nov 19
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: 8.9% 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 Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.2% net profit margin). Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩835 (vs ₩1,787 in 3Q 2022) Third quarter 2023 results: EPS: ₩835 (down from ₩1,787 in 3Q 2022). Revenue: ₩238.4b (down 8.2% from 3Q 2022). Net income: ₩14.8b (down 53% from 3Q 2022). Profit margin: 6.2% (down from 12% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Media industry in South Korea are expected to grow by 5.3%. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩30,600, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Media industry in South Korea. Total returns to shareholders of 117% over the past three years. Major Estimate Revision • Aug 15
Consensus EPS estimates fall by 21%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ₩1.01b to ₩1.03b. EPS estimate fell from ₩4,343 to ₩3,432 per share. Net income forecast to shrink 48% next year vs 22% growth forecast for Media industry in South Korea . Consensus price target down from ₩46,167 to ₩41,000. Share price rose 9.3% to ₩28,100 over the past week. Price Target Changed • Jul 21
Price target decreased by 7.7% to ₩46,167 Down from ₩50,000, the current price target is an average from 6 analysts. New target price is 64% above last closing price of ₩28,150. Stock is down 32% over the past year. The company is forecast to post earnings per share of ₩3,368 for next year compared to ₩7,481 last year. Major Estimate Revision • Jul 20
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ₩5,225 to ₩4,597 per share. Revenue forecast steady at ₩1.01b. Net income forecast to shrink 39% next year vs 19% growth forecast for Media industry in South Korea . Consensus price target down from ₩50,000 to ₩47,600. Share price fell 5.0% to ₩27,750 over the past week. Price Target Changed • Jul 19
Price target decreased by 10% to ₩47,600 Down from ₩53,000, the current price target is an average from 5 analysts. New target price is 71% above last closing price of ₩27,900. Stock is down 33% over the past year. The company is forecast to post earnings per share of ₩3,368 for next year compared to ₩7,481 last year. Reported Earnings • Mar 22
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₩7,482 (up from ₩7,165 in FY 2021). Revenue: ₩1.17t (up 12% from FY 2021). Net income: ₩132.3b (up 4.4% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%. Revenue is expected to decline by 2.1% p.a. on average during the next 3 years, while revenues in the Media industry in South Korea are expected to grow by 6.6%. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩36,050, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Media industry in South Korea. Total returns to shareholders of 154% over the past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩46,500, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Media industry in South Korea. Total returns to shareholders of 106% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩33,901 per share. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩40,050, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Media industry in South Korea. Total returns to shareholders of 82% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩34,088 per share. Upcoming Dividend • Dec 21
Upcoming dividend of ₩1,000 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 13 April 2023. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (3.4%). Reported Earnings • Nov 17
Third quarter 2022 earnings released: EPS: ₩1,787 (vs ₩3,119 in 3Q 2021) Third quarter 2022 results: EPS: ₩1,787 (down from ₩3,119 in 3Q 2021). Revenue: ₩259.7b (down 15% from 3Q 2021). Net income: ₩31.6b (down 43% from 3Q 2021). Profit margin: 12% (down from 18% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Media industry in South Korea. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent 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: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Oct 19
Price target decreased to ₩61,333 Down from ₩66,000, the current price target is an average from 3 analysts. New target price is 103% above last closing price of ₩30,200. Stock is down 49% over the past year. The company is forecast to post earnings per share of ₩8,930 for next year compared to ₩7,693 last year. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩32,150, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 10x in the Media industry in South Korea. Total returns to shareholders of 78% over the past three years. Major Estimate Revision • Jun 30
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ₩1.16b to ₩1.18b. EPS estimate increased from ₩8,083 to ₩8,930 per share. Net income forecast to grow 1.8% next year vs 21% growth forecast for Media industry in South Korea. Consensus price target of ₩67,500 unchanged from last update. Share price fell 3.9% to ₩43,050 over the past week. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent 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: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improved over the past week After last week's 15% share price gain to ₩48,150, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Media industry in South Korea. Total returns to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩39,450, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 11x in the Media industry in South Korea. Total returns to shareholders of 74% over the past three years. Reported Earnings • Nov 18
Third quarter 2021 earnings released: EPS ₩3,208 (vs ₩3,616 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩312.1b (up 41% from 3Q 2020). Net income: ₩56.7b (up ₩120.7b from 3Q 2020). Profit margin: 18% (up from net loss in 3Q 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year whereas the company’s share price has increased by 33% per year. Price Target Changed • Aug 12
Price target increased to ₩66,000 Up from ₩56,000, the current price target is provided by 1 analyst. New target price is 24% above last closing price of ₩53,100. Stock is up 229% over the past year. Price Target Changed • May 23
Price target increased to ₩44,750 Up from ₩32,750, the current price target is provided by 1 analyst. New target price is 10% above last closing price of ₩40,600. Stock is up 130% over the past year. Price Target Changed • May 18
Price target increased to ₩41,250 Up from ₩32,750, the current price target is provided by 1 analyst. New target price is 6.0% above last closing price of ₩38,900. Stock is up 122% over the past year. Price Target Changed • Apr 06
Price target increased to ₩33,500 Up from ₩31,250, the current price target is provided by 1 analyst. New target price is 53% above last closing price of ₩21,900. Stock is up 28% over the past year. Reported Earnings • Mar 22
Full year 2020 earnings released: ₩3,803 loss per share (vs ₩1,114 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: ₩860.3b (up 5.2% from FY 2019). Net loss: ₩67.3b (down 442% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Aankondiging • Feb 27
Seoul Broadcasting System, Annual General Meeting, Mar 26, 2021 Seoul Broadcasting System, Annual General Meeting, Mar 26, 2021, at 10:00 Korea Standard Time. Is New 90 Day High Low • Jan 20
New 90-day high: ₩26,800 The company is up 71% from its price of ₩15,700 on 22 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: ₩23,700 The company is up 63% from its price of ₩14,550 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 Media industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: ₩20,700 The company is up 37% from its price of ₩15,100 on 09 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 Media industry, which is up 2.0% over the same period. Price Target Changed • Nov 18
Price target raised to ₩29,000 Up from ₩21,667, the current price target is provided by 1 analyst. The new target price is 46% above the current share price of ₩19,900. As of last close, the stock is up 20% over the past year. Major Estimate Revision • Nov 18
Analysts update estimates The 2020 consensus revenue estimate increased from ₩782.4m to ₩860.5m. The company is forecast to report a loss instead of a profit with analysts lowering their EPS forecasts from ₩480 to -₩3,312 for the same period. The Media industry in South Korea is expected to see an average net income growth of 19% next year. The consensus price target increased from ₩21,667 to ₩29,000. Share price is up 21% to ₩19,900 over the past week. Valuation Update With 7 Day Price Move • Nov 17
Market bids up stock over the past week After last week's 17% share price gain to ₩18,950, the stock is trading at a trailing P/E ratio of 38.8x, up from the previous P/E ratio of 33.3x. This compares to an average P/E of 19x in the Media industry in South Korea. Total return to shareholders over the past three years is a loss of 22%. Is New 90 Day High Low • Nov 10
New 90-day high: ₩16,250 The company is up 1.0% from its price of ₩16,150 on 12 August 2020. The South Korean market is also up 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Media industry, which is up 6.0% over the same period.