Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩3,590, the stock trades at a trailing P/E ratio of 43.1x. Average trailing P/E is 29x in the Semiconductor industry in South Korea. Total loss to shareholders of 32% over the past three years. New Risk • Apr 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 13% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 33% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.3% net profit margin). Market cap is less than US$100m (₩54.6b market cap, or US$36.9m). Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₩5,100, the stock trades at a trailing P/E ratio of 61.3x. Average trailing P/E is 26x in the Semiconductor industry in South Korea. Total loss to shareholders of 2.3% over the past three years. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩3,635, the stock trades at a trailing P/E ratio of 43.7x. Average trailing P/E is 26x in the Semiconductor industry in South Korea. Total loss to shareholders of 26% over the past three years. Aankondiging • Mar 13
ODTech Co., Ltd., Annual General Meeting, Mar 27, 2026 ODTech Co., Ltd., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 87, wanjusandan 5-ro, bongdong-eup, wanju-gun, jeonbuk-do, South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 17 April 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.4%). Declared Dividend • Nov 08
Dividend of ₩100.00 announced Dividend of ₩100.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 17th April 2026 Dividend yield will be 3.4%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 6 years but payments have been stable during that time. Aankondiging • Nov 07
ODTech Co., Ltd. announces Annual dividend, payable on April 17, 2026 ODTech Co., Ltd. announced Annual dividend of KRW 100.0000 per share payable on April 17, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Aug 30
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (₩32.7b market cap, or US$23.6m). New Risk • May 29
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.1% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 5.9% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩33.3b market cap, or US$24.1m). Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩3,365, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total loss to shareholders of 52% over the past three years. Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: ₩521 (vs ₩64.32 loss in FY 2023) Full year 2024 results: EPS: ₩521 (up from ₩64.32 loss in FY 2023). Revenue: ₩37.0b (up 5.8% from FY 2023). Net income: ₩5.47b (up ₩6.15b from FY 2023). Profit margin: 15% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Aankondiging • Mar 06
ODTech Co., Ltd., Annual General Meeting, Mar 21, 2025 ODTech Co., Ltd., Annual General Meeting, Mar 21, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 87, wanjusandan 5-ro, bongdong-eup, wanju-gun, jeonbuk-do, South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 21 April 2025. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (0.8%). New Risk • Dec 07
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 52% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (52% accrual ratio). Minor Risks Less than 3 years of financial data is available. Market cap is less than US$100m (₩31.3b market cap, or US$22.0m). Aankondiging • Jul 16
ODTech Co., Ltd. (KOSDAQ:A080520) announces an Equity Buyback for KRW 1,000 million worth of its shares. ODTech Co., Ltd. (KOSDAQ:A080520) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares, pursuant to a contract with Mirae Asset Daewoo Securities. The purpose of the program is shareholder value Improvement and responsible management. The program will expire on January 16, 2025. As of July 15, 2024, the company had 1,162,053 shares in treasury within scope available for dividend and had 5,767 shares in treasury under other acquisitions. Reported Earnings • May 19
First quarter 2024 earnings released First quarter 2024 results: EPS: ₩1,161. Revenue: ₩7.92b (down 9.1% from 1Q 2023). Net income: ₩12.3b (up ₩11.2b from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 19
Full year 2023 earnings released: ₩64.32 loss per share (vs ₩230 loss in FY 2022) Full year 2023 results: ₩64.32 loss per share (improved from ₩230 loss in FY 2022). Revenue: ₩35.0b (down 13% from FY 2022). Net loss: ₩680.3m (loss narrowed 73% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Aankondiging • Feb 13
POLARIS UNO, Inc. (KOSDAQ:A114630) along with Sewon Co., Ltd. completed the acquisition of 28.54% stake in Leenos Corp. (KOSDAQ:A039980) from ODTech Co., Ltd. (KOSDAQ:A080520) and T.S. 2015-9 Growth Strategy M&A Investment Fund managed by T.S. Investment Corporation (KOSDAQ:A246690) for KRW 42.6 billion on February 13, 2024. POLARIS UNO, Inc. (KOSDAQ:A114630) along with Sewon Co., Ltd. agreed to acquire 28.54% stake in Leenos Corp. (KOSDAQ:A039980) from ODTech Co., Ltd. (KOSDAQ:A080520) and T.S. 2015-9 Growth Strategy M&A Investment Fund managed by T.S. Investment Corporation (KOSDAQ:A246690) for KRW 42.6 billion on December 26, 2023. In related transaction Polaris Uno Co., Ltd. and six related parties will acquire new shares by participating in the company's paid-in capital increase allocated to third parties. Transaction is expected to complete on February 13, 2024. POLARIS UNO, Inc. (KOSDAQ:A114630) along with Sewon Co., Ltd. completed the acquisition of 28.54% stake in Leenos Corp. (KOSDAQ:A039980) from ODTech Co., Ltd. (KOSDAQ:A080520) and T.S. 2015-9 Growth Strategy M&A Investment Fund managed by T.S. Investment Corporation (KOSDAQ:A246690) for KRW 42.6 billion on February 13, 2024. Upcoming Dividend • Dec 20
Upcoming dividend of ₩100.00 per share at 2.1% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.0%). Upcoming Dividend • Dec 21
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 20 April 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improved over the past week After last week's 28% share price gain to ₩5,270, the stock trades at a trailing P/E ratio of 78x. Average trailing P/E is 9x in the Semiconductor industry in South Korea. Total returns to shareholders of 10% over the past three years. Aankondiging • Oct 06
ODTech Co., Ltd. (KOSDAQ:A080520) announces an Equity Buyback for KRW 1,500 million worth of its shares. ODTech Co., Ltd. (KOSDAQ:A080520) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,500 million worth of its shares, pursuant to a contract with Mirae Asset Daewoo Securities. The program is aimed at enhancement of shareholder value and responsible management. The repurchase program will continue until April 5, 2023. As of October 4, 2022, the company had 844,600 shares in treasury within scope available for dividend and had 5,767 shares in treasury through other repurchase. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩4,120, the stock trades at a trailing P/E ratio of 61x. Average trailing P/E is 9x in the Semiconductor industry in South Korea. Total loss to shareholders of 12% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 21 April 2022. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.9%). Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩5,740, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 17x in the Semiconductor industry in South Korea. Total returns to shareholders of 9.6% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 31% share price gain to ₩7,430, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 23x in the Semiconductor industry in South Korea. Total returns to shareholders of 7.4% over the past three years. Aankondiging • Feb 25
ODTech Co., Ltd., Annual General Meeting, Mar 26, 2021 ODTech Co., Ltd., Annual General Meeting, Mar 26, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Jan 14
New 90-day high: ₩5,740 The company is up 8.0% from its price of ₩5,320 on 16 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 39% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩100.00 Per Share Will be paid on the 16th of April to those who are registered shareholders by the 29th of December. The trailing yield of 2.0% is below the top quartile of South Korean dividend payers (2.6%), but it is higher than industry peers (0.8%). Is New 90 Day High Low • Oct 08
New 90-day high: ₩5,500 The company is up 19% from its price of ₩4,620 on 10 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 4.0% over the same period.