New Risk • May 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% 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 (27% accrual ratio). Minor Risk Market cap is less than US$100m (₩53.3b market cap, or US$35.4m). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩7,670, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 88% over the past three years. Aankondiging • Mar 07
Total Soft Bank Ltd., Annual General Meeting, Mar 26, 2026 Total Soft Bank Ltd., Annual General Meeting, Mar 26, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 66-39, bansong-ro 513 beon-gil, haeundae-gu, busan South Korea Aankondiging • Mar 06
Total Soft Bank Ltd. announces Annual dividend Total Soft Bank Ltd. announced Annual dividend of KRW 100.0000 per share, ex-date on December 29, 2025 and record date on December 31, 2025. Aankondiging • Mar 05
Total Soft Bank Ltd. (KOSDAQ:A045340) announces an Equity Buyback for KRW 2,000 million worth of its shares. Total Soft Bank Ltd. (KOSDAQ:A045340) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares pursuant to a contract with Daishin Securities. The purpose of the program is Stabilization of stock price and enhance shareholder value. The program will expire on March 4, 2027. As of March 3, 2026, the company had 0 shares in treasury within scope available for dividend and had 0 shares in treasury under other capacities. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩8,320, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 84% over the past three years. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩5,970, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 30% over the past three years. Reported Earnings • Nov 14
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ₩6.77b (up 18% from 3Q 2024). Net income: ₩2.48b (up 86% from 3Q 2024). Profit margin: 37% (up from 23% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩8,780, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 18x in the Software industry in South Korea. Total returns to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩6,640, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩6,160, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 3.9% over the past three years. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩7,150, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩7,080, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 20% over the past three years. New Risk • Mar 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% 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 (24% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (₩62.0b market cap, or US$42.5m). Aankondiging • Mar 06
Total Soft Bank Ltd., Annual General Meeting, Mar 26, 2025 Total Soft Bank Ltd., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 66-39, bansong-ro 513 beon-gil, haeundae-gu, busan South Korea Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩7,810, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 14x in the Software industry in South Korea. Total loss to shareholders of 4.6% over the past three years. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to ₩9,010, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 5.4% over the past three years. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to ₩6,350, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 15x in the Software industry in South Korea. Total loss to shareholders of 25% over the past three years. New Risk • Nov 25
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 9.4% 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: Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Market cap is less than US$100m (₩42.0b market cap, or US$29.9m). Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₩4,455, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 14x in the Software industry in South Korea. Total loss to shareholders of 53% over the past three years. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: ₩156 (vs ₩106 in 3Q 2023) Third quarter 2024 results: EPS: ₩156 (up from ₩106 in 3Q 2023). Revenue: ₩5.73b (up 66% from 3Q 2023). Net income: ₩1.33b (up 47% from 3Q 2023). Profit margin: 23% (down from 26% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Sep 19
Now 22% overvalued Over the last 90 days, the stock has fallen 3.3% to ₩5,030. The fair value is estimated to be ₩4,113, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 14%. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: ₩112 (vs ₩63.00 in 1Q 2023) First quarter 2024 results: EPS: ₩112 (up from ₩63.00 in 1Q 2023). Revenue: ₩4.42b (up 21% from 1Q 2023). Net income: ₩960.9m (up 77% from 1Q 2023). Profit margin: 22% (up from 15% in 1Q 2023). 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 35% per year, which means it is significantly lagging earnings. New Risk • Apr 11
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 Earnings have declined by 3.0% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (₩38.5b market cap, or US$28.1m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩5,300, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 79% over the past three years. Buy Or Sell Opportunity • Apr 05
Now 21% undervalued Over the last 90 days, the stock has risen 21% to ₩5,650. The fair value is estimated to be ₩7,162, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 7.1%. Buy Or Sell Opportunity • Mar 21
Now 22% undervalued Over the last 90 days, the stock has risen 28% to ₩5,510. The fair value is estimated to be ₩7,087, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Earnings per share has grown by 7.1%. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩6,040, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 19x in the Software industry in South Korea. Total loss to shareholders of 62% over the past three years. Buy Or Sell Opportunity • Mar 05
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 9.5% to ₩5,050. The fair value is estimated to be ₩4,143, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years, while earnings per share has been flat. Buy Or Sell Opportunity • Feb 06
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at ₩4,710. The fair value is estimated to be ₩3,848, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years, while earnings per share has been flat. New Risk • Dec 05
New major risk - Revenue and earnings growth Earnings have declined by 1.9% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 1.9% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (₩36.6b market cap, or US$27.8m). Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩3,985, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 18x in the Software industry in South Korea. Total loss to shareholders of 9.6% over the past three years. New Risk • Sep 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 12% Last year net profit margin: 23% 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 Profit margins are more than 30% lower than last year (12% net profit margin). Market cap is less than US$100m (₩37.6b market cap, or US$28.3m). Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ₩63.00 (vs ₩81.00 in 1Q 2022) First quarter 2023 results: EPS: ₩63.00 (down from ₩81.00 in 1Q 2022). Revenue: ₩3.66b (up 8.8% from 1Q 2022). Net income: ₩542.6m (down 21% from 1Q 2022). Profit margin: 15% (down from 21% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩4,725, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 22x in the Software industry in South Korea. Total returns to shareholders of 50% over the past three years. 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. 5 experienced directors. No highly experienced directors. 2 independent directors (3 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. Buying Opportunity • Oct 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 38%. The fair value is estimated to be ₩5,121, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has declined by 3.5%. 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 ₩4,290, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 13x in the Software industry in South Korea. Total returns to shareholders of 49% over the past three years. Buying Opportunity • Sep 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be ₩5,702, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has declined by 3.5%. 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 ₩5,900, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 98% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩5,720, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 19x in the Software industry in South Korea. Total returns to shareholders of 96% over the past three years. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improved over the past week After last week's 26% share price gain to ₩7,510, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 22x in the Software industry in South Korea. Total returns to shareholders of 147% over the past three years. 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. 5 experienced directors. No highly experienced directors. 2 independent directors (3 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. Buying Opportunity • Mar 08
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 40%. The fair value is estimated to be ₩6,794, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has been flat over the last 3 years. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩6,400, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 20x in the Software industry in South Korea. Total returns to shareholders of 118% over the past three years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩7,210, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 23x in the Software industry in South Korea. Total returns to shareholders of 149% over the past three years. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 16% share price gain to ₩9,780, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 24x in the Software industry in South Korea. Total returns to shareholders of 283% over the past three years. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩8,300, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 28x in the Software industry in South Korea. Total returns to shareholders of 196% over the past three years. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ₩138 (vs ₩55.00 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩3.37b (up 35% from 3Q 2020). Net income: ₩1.18b (up 151% from 3Q 2020). Profit margin: 35% (up from 19% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 51% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩11,400, the stock trades at a trailing P/E ratio of 49.4x. Average trailing P/E is 24x in the Software industry in South Korea. Total returns to shareholders of 292% over the past three years. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improved over the past week After last week's 22% share price gain to ₩15,650, the stock trades at a trailing P/E ratio of 73.2x. Average trailing P/E is 24x in the Software industry in South Korea. Total returns to shareholders of 385% over the past three years. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩13,750, the stock trades at a trailing P/E ratio of 70.5x. Average trailing P/E is 26x in the Software industry in South Korea. Total returns to shareholders of 361% over the past three years. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improved over the past week After last week's 21% share price gain to ₩20,500, the stock trades at a trailing P/E ratio of 78.8x. Average trailing P/E is 22x in the Software industry in South Korea. Total returns to shareholders of 487% over the past three years. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 15% share price gain to ₩19,750, the stock is trading at a trailing P/E ratio of 61.1x, up from the previous P/E ratio of 53.1x. This compares to an average P/E of 25x in the Software industry in South Korea. Total returns to shareholders over the past three years are 420%. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩18,850, the stock is trading at a trailing P/E ratio of 58.3x, down from the previous P/E ratio of 69.6x. This compares to an average P/E of 24x in the Software industry in South Korea. Total returns to shareholders over the past three years are 385%. Is New 90 Day High Low • Jan 27
New 90-day high: ₩24,200 The company is up 468% from its price of ₩4,260 on 29 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 14% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: ₩15,800 The company is up 228% from its price of ₩4,815 on 14 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 Software industry, which is up 8.0% over the same period. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₩8,830, the stock is trading at a trailing P/E ratio of 27.3x, up from the previous P/E ratio of 23.3x. This compares to an average P/E of 24x in the Software industry in South Korea. Total returns to shareholders over the past three years are 169%. Is New 90 Day High Low • Dec 28
New 90-day high: ₩7,540 The company is up 70% from its price of ₩4,445 on 29 September 2020. The South Korean market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 5.0% over the same period. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improved over the past week After last week's 36% share price gain to ₩6,410, the stock is trading at a trailing P/E ratio of 19.8x, up from the previous P/E ratio of 14.6x. This compares to an average P/E of 22x in the Software industry in South Korea. Total returns to shareholders over the past three years are 103%. Is New 90 Day High Low • Dec 08
New 90-day high: ₩5,030 The company is up 3.0% from its price of ₩4,880 on 09 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 1.0% over the same period.