Buy Or Sell Opportunity • Jun 12
Now 30% overvalued Over the last 90 days, the stock has fallen 16% to ₩5,860. The fair value is estimated to be ₩4,505, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 24
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₩1.00 (down from ₩57.00 in FY 2024). Revenue: ₩1.23t (up 4.9% from FY 2024). Net income: ₩92.2m (down 98% from FY 2024). Profit margin: 0% (down from 0.3% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 99%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. New Risk • Mar 24
New major risk - Revenue and earnings growth Earnings have declined by 46% 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 46% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Aankondiging • Feb 27
DREAMTECH Co., Ltd., Annual General Meeting, Mar 26, 2026 DREAMTECH Co., Ltd., Annual General Meeting, Mar 26, 2026, at 08:00 Tokyo Standard Time. Location: conference room, 161, asanbaelli-ro 388beon-gil, eumbong-myeon, chungcheongnam-do, South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩200 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 13 April 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.9%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.9%). Declared Dividend • Nov 08
Dividend of ₩200 announced Dividend of ₩200 is the same as last year. Ex-date: 29th December 2025 Payment date: 13th April 2026 Dividend yield will be 2.9%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (68% cash payout ratio). The dividend has increased by an average of 3.8% per year over the past 6 years. However, payments have been volatile during that time. Aankondiging • Nov 07
DREAMTECH Co., Ltd. announces Annual dividend, payable on April 13, 2026 DREAMTECH Co., Ltd. announced Annual dividend of KRW 200.0000 per share payable on April 13, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Aankondiging • Aug 06
DREAMTECH Co., Ltd. (KOSE:A192650) announces an Equity Buyback for KRW 5,000 million worth of its shares. DREAMTECH Co., Ltd. (KOSE:A192650) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its own shares pursuant to a contract with Samsung Securities Co., Ltd. The purpose behind the program is to enhance shareholder value and to stabilize stock price. The repurchase program will expire on February 9, 2026. As of August 5, 2025, the company had 2,307,490 treasury shares within scope available for dividend and 18,663 shares in treasury through other repurchase. Aankondiging • May 20
DREAMTECH Co., Ltd. (KOSE:A192650) announces an Equity Buyback for KRW 5,000 million worth of its shares. DREAMTECH Co., Ltd. (KOSE:A192650) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its own shares pursuant to a contract with Samsung Securities Co., Ltd. The purpose behind the program is to enhance shareholder value and to stabilize stock price. The repurchase program will expire on November 19, 2025. As of May 18, 2025, the company had 1,484,536 treasury shares within scope available for dividend and 18,663 shares in treasury through other repurchase. New Risk • Mar 26
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: 0.3% Last year net profit margin: 1.5% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 122% Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (0.3% net profit margin). New Risk • Mar 24
New major risk - Revenue and earnings growth Earnings have declined by 3.8% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 122% Paying a dividend despite having no free cash flows. Earnings have declined by 3.8% per year over the past 5 years. Aankondiging • Mar 05
DREAMTECH Co., Ltd., Annual General Meeting, Mar 26, 2025 DREAMTECH Co., Ltd., Annual General Meeting, Mar 26, 2025, at 08:00 Tokyo Standard Time. Location: conference room, 161, asanbaelli-ro 388beon-gil, chungcheongnam-do, asan South Korea Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩8,090, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Electronic industry in South Korea. Total loss to shareholders of 16% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 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: 2.8%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.0%). New Risk • Nov 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 101% This is considered a major 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: Major Risk Shareholders have been substantially diluted in the past year (101% increase in shares outstanding). Minor Risk Dividend is not well covered by cash flows (266% cash payout ratio). Aankondiging • May 30
DREAMTECH Co., Ltd. (KOSE:A192650) announces an Equity Buyback for KRW 5,000 million worth of its shares. DREAMTECH Co., Ltd. (KOSE:A192650)announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its own shares pursuant to a contract with NH Investment & Securities Co., Ltd. The purpose behind the program is to enhance shareholder value and to stabilize stock price. The repurchase program will expire on November 30, 2024. As of May 28, 2024, the company had 908,316 treasury shares within scope available for dividend and 18,463 shares in treasury through other repurchase. Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: ₩227 (vs ₩965 in FY 2022) Full year 2023 results: EPS: ₩227 (down from ₩965 in FY 2022). Revenue: ₩1.03t (down 25% from FY 2022). Net income: ₩15.3b (down 76% from FY 2022). Profit margin: 1.5% (down from 4.7% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share at 1.7% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 19 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.9%). New Risk • Dec 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% 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 Dividend is not well covered by earnings (160% payout ratio). Profit margins are more than 30% lower than last year (0.8% net profit margin). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ₩183 (vs ₩309 in 3Q 2022) Third quarter 2023 results: EPS: ₩183 (down from ₩309 in 3Q 2022). Revenue: ₩277.0b (down 12% from 3Q 2022). Net income: ₩12.3b (down 41% from 3Q 2022). Profit margin: 4.4% (down from 6.6% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 8% 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. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩10,800, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electronic industry in South Korea. Total loss to shareholders of 7.9% over the past three years. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩11,280, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 16x in the Electronic industry in South Korea. Total loss to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩12,500, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total returns to shareholders of 16% over the past three years. Buying Opportunity • Mar 10
Now 21% undervalued Over the last 90 days, the stock is up 5.2%. The fair value is estimated to be ₩12,899, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 50%. Buying Opportunity • Feb 10
Now 23% undervalued Over the last 90 days, the stock is up 2.6%. The fair value is estimated to be ₩12,759, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 32% over the last 3 years. Earnings per share has grown by 50%. Upcoming Dividend • Dec 21
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 07 April 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.0%). Aankondiging • Nov 08
DREAMTECH Co., Ltd. (KOSE:A192650) announces an Equity Buyback for KRW 5,000 million worth of its shares. DREAMTECH Co., Ltd. (KOSE:A192650) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its own shares pursuant to a contract with NH Investment & Securities Co., Ltd. The purpose behind the program is to enhance shareholder value and to stabilize stock price. The repurchase program will expire on June 30, 2023. As of November 6, 2022, the company had 512,476 treasury shares within scope available for dividend and no shares in treasury through other repurchase. Reported Earnings • Mar 16
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ₩1,132 (up from ₩495 in FY 2020). Revenue: ₩1.23t (up 29% from FY 2020). Net income: ₩73.8b (up 141% from FY 2020). Profit margin: 6.0% (up from 3.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Over the next year, revenue is forecast to grow 10%, compared to a 30% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 25 April 2022. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.4%). Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 16% share price gain to ₩12,450, the stock trades at a trailing P/E ratio of 19.5x. Average forward P/E is 13x in the Electronic industry in South Korea. Total loss to shareholders of 23% over the past year. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improved over the past week After last week's 15% share price gain to ₩10,700, the stock trades at a trailing P/E ratio of 30.9x. Average forward P/E is 14x in the Electronic industry in South Korea. Total returns to shareholders of 114% over the past year. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS ₩346 (vs ₩422 in FY 2019) The company reported a mediocre full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: ₩1.05t (up 87% from FY 2019). Net income: ₩21.4b (down 11% from FY 2019). Profit margin: 2.0% (down from 4.3% in FY 2019). The decrease in margin was driven by higher expenses. Aankondiging • Feb 27
DREAMTECH Co., Ltd., Annual General Meeting, Mar 26, 2021 DREAMTECH Co., Ltd., Annual General Meeting, Mar 26, 2021, at 08:00 Korea Standard Time. Is New 90 Day High Low • Feb 23
New 90-day low: ₩10,050 The company is down 18% from its price of ₩12,200 on 25 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 30% over the same period. Is New 90 Day High Low • Feb 04
New 90-day low: ₩10,400 The company is down 14% from its price of ₩12,100 on 06 November 2020. The South Korean market is up 27% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 42% over the same period. Is New 90 Day High Low • Jan 18
New 90-day low: ₩10,650 The company is down 20% from its price of ₩13,300 on 20 October 2020. The South Korean market is up 30% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 45% over the same period. Is New 90 Day High Low • Dec 24
New 90-day low: ₩11,050 The company is down 26% from its price of ₩14,900 on 24 September 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 15% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩160 Per Share Will be paid on the 22nd of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.4% is below the top quartile of South Korean dividend payers (2.6%), but it is higher than industry peers (0.5%). Valuation Update With 7 Day Price Move • Dec 02
Market bids up stock over the past week After last week's 15% share price gain to ₩14,050, the stock is trading at a trailing P/E ratio of 50.5x, up from the previous P/E ratio of 43.9x. This compares to an average P/E of 26x in the Electronic industry in South Korea. Total returns to shareholders over the past year are 142%. Valuation Update With 7 Day Price Move • Nov 20
Market bids up stock over the past week After last week's 27% share price gain to ₩14,600, the stock is trading at a trailing P/E ratio of 71.5x, up from the previous P/E ratio of 56.3x. This compares to an average P/E of 24x in the Electronic industry in South Korea. Total returns to shareholders over the past year are 161%. Is New 90 Day High Low • Nov 17
New 90-day low: ₩11,150 The company is down 24% from its price of ₩14,650 on 19 August 2020. The South Korean market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 8.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: ₩11,450 The company is down 26% from its price of ₩15,500 on 31 July 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is flat over the same period. Valuation Update With 7 Day Price Move • Oct 16
Market pulls back on stock over the past week After last week's 16% share price decline to ₩13,300, the stock is trading at a trailing P/E ratio of 65.1x, down from the previous P/E ratio of 77.9x. This compares to an average P/E of 23x in the Electronic industry in South Korea. Total returns to shareholders over the past year are 105%.