Announcement • Apr 23
SNT Motiv Co., Ltd. (KOSE:A064960) agreed to acquire 20.46% stake in Smec Co.,Ltd (KOSDAQ:A099440) for KRW 60.6 billion. SNT Motiv Co., Ltd. (KOSE:A064960) agreed to acquire 20.46% stake in Smec Co.,Ltd (KOSDAQ:A099440) for KRW 60.6 billion on April 22, 2026. A cash consideration of KRW 60.59 billion will be paid by SNT Motiv Co., Ltd. As part of consideration, KRW 60.59 billion is paid towards common equity of Smec Co.,Ltd. The acquisition is obtained with a cash of KRW 60.59 billion.
The deal has been internally approval by Smec Co.,Ltd board.
The expected completion of the transaction is April 24, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 May 2026. Payout ratio is a comfortable 58% but the company is not cash flow positive. Trailing yield: 5.4%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩31,200, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 6x in the Auto Components industry in South Korea. Total returns to shareholders of 43% over the past three years. New Risk • Feb 24
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: 6.9% Last year net profit margin: 11% 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 (6.9% net profit margin). Reported Earnings • Feb 24
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₩2,921 (down from ₩4,299 in FY 2024). Revenue: ₩1.01t (up 3.9% from FY 2024). Net income: ₩69.6b (down 33% from FY 2024). Profit margin: 6.9% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 31
Price target increased by 7.9% to ₩45,200 Up from ₩41,900, the current price target is an average from 10 analysts. New target price is 29% above last closing price of ₩35,050. Stock is up 41% over the past year. The company is forecast to post earnings per share of ₩3,516 for next year compared to ₩4,299 last year. Announcement • Jan 30
SNT Motiv Co., Ltd., Annual General Meeting, Feb 27, 2026 SNT Motiv Co., Ltd., Annual General Meeting, Feb 27, 2026, at 13:30 Tokyo Standard Time. Location: conference room, 363, yeoraksongjeong-ro, cheolma-myeon, gijang-gun, busan South Korea Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩37,350, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 6x in the Auto Components industry in South Korea. Total returns to shareholders of 98% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩1,100 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 17 March 2026. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩35,950, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 6x in the Auto Components industry in South Korea. Total returns to shareholders of 78% over the past three years. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ₩893 (vs ₩700 in 3Q 2024) Third quarter 2025 results: EPS: ₩893 (up from ₩700 in 3Q 2024). Revenue: ₩231.1b (up 4.6% from 3Q 2024). Net income: ₩21.3b (up 26% from 3Q 2024). Profit margin: 9.2% (up from 7.7% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jul 16
Price target increased by 7.6% to ₩38,000 Up from ₩35,300, the current price target is an average from 10 analysts. New target price is 8.3% above last closing price of ₩35,100. Stock is up 61% over the past year. The company is forecast to post earnings per share of ₩3,736 for next year compared to ₩4,299 last year. Upcoming Dividend • Jun 20
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 20 August 2025. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of South Korean dividend payers (3.6%). In line with average of industry peers (2.9%). Price Target Changed • Mar 04
Price target increased by 7.0% to ₩29,250 Up from ₩27,333, the current price target is an average from 8 analysts. New target price is 17% above last closing price of ₩25,050. Stock is up 12% over the past year. The company is forecast to post earnings per share of ₩3,399 for next year compared to ₩4,299 last year. Reported Earnings • Feb 21
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ₩4,299 (up from ₩3,460 in FY 2023). Revenue: ₩968.9b (down 15% from FY 2023). Net income: ₩104.3b (up 20% from FY 2023). Profit margin: 11% (up from 7.7% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 38%. Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Announcement • Feb 05
SNT Motiv Co., Ltd., Annual General Meeting, Feb 28, 2025 SNT Motiv Co., Ltd., Annual General Meeting, Feb 28, 2025, at 13:30 Tokyo Standard Time. Location: conference room, 363, yeoraksongjeong-ro, cheolma-myeon, gijang-gun, busan South Korea Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩47,200, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 4x in the Auto Components industry in South Korea. Total returns to shareholders of 22% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩1,000 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 13 March 2025. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (2.6%). Reported Earnings • Nov 11
Third quarter 2024 earnings released: EPS: ₩1,401 (vs ₩2,224 in 3Q 2023) Third quarter 2024 results: EPS: ₩1,401 (down from ₩2,224 in 3Q 2023). Revenue: ₩220.8b (down 20% from 3Q 2023). Net income: ₩17.0b (down 42% from 3Q 2023). Profit margin: 7.7% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Sep 02
SNT Motiv Co., Ltd. (KOSE:A064960) announces an Equity Buyback for KRW 10,000 million worth of its shares. SNT Motiv Co., Ltd. (KOSE:A064960) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares, pursuant to a contract with KB Securities Co., Ltd. The purpose of the program is to stabilize stock price and to improve shareholder value. The program will expire on March 1, 2025. As of September 1, 2024, the company had 2,494,286 shares in treasury within scope available for dividend and had no shares in treasury under other acquisitions. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩47,250, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 5x in the Auto Components industry in South Korea. Total loss to shareholders of 2.5% over the past three years. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: ₩2,178 (vs ₩2,054 in 2Q 2023) Second quarter 2024 results: EPS: ₩2,178 (up from ₩2,054 in 2Q 2023). Revenue: ₩240.3b (down 17% from 2Q 2023). Net income: ₩27.2b (flat on 2Q 2023). Profit margin: 11% (up from 9.4% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 20
Upcoming dividend of ₩600 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 19 August 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.2%). Reported Earnings • Feb 25
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ₩6,579. Revenue: ₩1.14t (up 8.7% from FY 2022). Net income: ₩87.0b (flat on FY 2022). Profit margin: 7.7% (down from 8.4% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Auto Components industry in South Korea. 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: 11 March 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.0%). Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: ₩2,224 (vs ₩2,500 in 3Q 2022) Third quarter 2023 results: EPS: ₩2,224 (down from ₩2,500 in 3Q 2022). Revenue: ₩276.7b (up 1.2% from 3Q 2022). Net income: ₩29.4b (down 12% from 3Q 2022). Profit margin: 11% (down from 12% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Nov 09
SNT Motiv Co., Ltd. (KOSE:A064960) announces an Equity Buyback for KRW 50,000 million worth of its shares. SNT Motiv Co., Ltd. (KOSE:A064960) announces a share repurchase program. Under the program, the company will repurchase up to KRW 50,000 million worth of its shares, pursuant to a contract with KB Securities Co., Ltd. The purpose of the program is to stabilize stock price and to improve shareholder value. The program will expire on May 7, 2024. As of November 7, 2023, the company had 1,393,076 shares in treasury within scope available for dividend and had 2 shares in treasury under other acquisitions. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: ₩2,054 (vs ₩1,650 in 2Q 2022) Second quarter 2023 results: EPS: ₩2,054 (up from ₩1,650 in 2Q 2022). Revenue: ₩289.0b (up 32% from 2Q 2022). Net income: ₩27.2b (up 21% from 2Q 2022). Profit margin: 9.4% (in line with 2Q 2022). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of ₩600 per share at 3.1% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 21 August 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 (3.2%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 23
Full year 2022 earnings released: EPS: ₩6,470 (vs ₩5,787 in FY 2021) Full year 2022 results: EPS: ₩6,470 (up from ₩5,787 in FY 2021). Revenue: ₩1.04t (up 11% from FY 2021). Net income: ₩87.5b (up 9.2% from FY 2021). Profit margin: 8.4% (down from 8.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Dec 21
Upcoming dividend of ₩1,000 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 08 March 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.3%). 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. 1 independent director (8 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. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: ₩2,500 (vs ₩1,634 in 3Q 2021) Third quarter 2022 results: EPS: ₩2,500 (up from ₩1,634 in 3Q 2021). Revenue: ₩273.4b (up 29% from 3Q 2021). Net income: ₩33.4b (up 47% from 3Q 2021). Profit margin: 12% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Auto Components industry in South Korea. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 16% share price gain to ₩48,050, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Auto Components industry in South Korea. Total returns to shareholders of 3.8% over the past three years. Upcoming Dividend • Jun 22
Upcoming dividend of ₩600 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 20 August 2022. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 3.7%. Within top quartile of South Korean dividend payers (3.2%). Higher than average of industry peers (2.3%). Announcement • Jun 11
SNT Motiv Co., Ltd.(KOSE:A064960) dropped from KOSPI 200 Index SNT Motiv Co., Ltd has been dropped off from KOSPI 200 Index Reported Earnings • May 20
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: ₩1,763 (down from ₩2,143 in 1Q 2021). Revenue: ₩215.8b (down 16% from 1Q 2021). Net income: ₩24.4b (down 17% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Revenue missed analyst estimates by 14%. Earnings per share (EPS) exceeded analyst estimates by 7.7%. Over the next year, revenue is forecast to grow 18%, compared to a 15% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. 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. 1 independent director (8 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. Reported Earnings • Feb 22
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ₩5,787 (up from ₩3,952 in FY 2020). Revenue: ₩941.7b (flat on FY 2020). Net income: ₩80.1b (up 47% from FY 2020). Profit margin: 8.5% (up from 5.8% in FY 2020). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 16%, compared to a 11% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Dec 22
Upcoming dividend of ₩900 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 08 March 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.4%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.8%). Price Target Changed • Nov 27
Price target decreased to ₩68,100 Down from ₩73,545, the current price target is an average from 11 analysts. New target price is 53% above last closing price of ₩44,600. Stock is down 12% over the past year. The company is forecast to post earnings per share of ₩5,480 for next year compared to ₩3,952 last year. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS ₩1,634 (vs ₩1,274 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ₩211.3b (down 18% from 3Q 2020). Net income: ₩22.7b (up 30% from 3Q 2020). Profit margin: 11% (up from 6.8% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Aug 03
Consensus EPS estimates fall to ₩5,751 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from ₩1.10b to ₩1.05b. EPS estimate also fell from ₩6,498 to ₩5,751. Net income forecast to grow 50% next year vs 61% growth forecast for Auto Components industry in South Korea. Consensus price target down from ₩77,091 to ₩75,167. Share price fell 8.2% to ₩59,400 over the past week. Upcoming Dividend • Jun 22
Upcoming dividend of ₩700 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 21 August 2021. Trailing yield: 2.4%. Within top quartile of South Korean dividend payers (2.1%). Higher than average of industry peers (1.4%). Reported Earnings • May 17
First quarter 2021 earnings released: EPS ₩2,143 (vs ₩1,736 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: ₩256.9b (up 19% from 1Q 2020). Net income: ₩29.5b (up 23% from 1Q 2020). Profit margin: 12% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 21
Full year 2020 earnings released: EPS ₩3,952 (vs ₩5,786 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩940.7b (down 3.6% from FY 2019). Net income: ₩54.4b (down 30% from FY 2019). Profit margin: 5.8% (down from 7.9% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 14% per year. Announcement • Feb 05
S&T Motiv Co., Ltd., Annual General Meeting, Feb 26, 2021 S&T Motiv Co., Ltd., Annual General Meeting, Feb 26, 2021, at 13:30 Korea Standard Time. Price Target Changed • Jan 28
Price target raised to ₩69,444 Up from ₩64,444, the current price target is an average from 10 analysts. The new target price is close to the current share price of ₩71,500. As of last close, the stock is up 86% over the past year. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 39% share price gain to ₩77,000, the stock is trading at a trailing P/E ratio of 17x, up from the previous P/E ratio of 12.3x. This compares to an average P/E of 24x in the Auto Components industry in South Korea. Total returns to shareholders over the past three years are 68%. Price Target Changed • Jan 20
Price target raised to ₩64,444 Up from ₩60,000, the current price target is an average from 10 analysts. The new target price is 5.6% above the current share price of ₩61,000. As of last close, the stock is up 53% over the past year. Is New 90 Day High Low • Jan 20
New 90-day high: ₩61,000 The company is up 17% from its price of ₩52,000 on 22 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 42% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩53,971 per share. Price Target Changed • Jan 12
Price target raised to ₩61,333 Up from ₩56,889, the current price target is an average from 10 analysts. The new target price is 12% above the current share price of ₩54,800. As of last close, the stock is up 36% over the past year. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 20% share price gain to ₩59,200, the stock is trading at a trailing P/E ratio of 13.1x, up from the previous P/E ratio of 10.9x. This compares to an average P/E of 20x in the Auto Components industry in South Korea. Total returns to shareholders over the past three years are 41%. Is New 90 Day High Low • Jan 04
New 90-day high: ₩55,700 The company is up 5.0% from its price of ₩53,100 on 06 October 2020. The South Korean market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩54,600 per share. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS ₩1,274 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: ₩258.6b (up 7.8% from 3Q 2019). Net income: ₩17.5b (down 30% from 3Q 2019). Profit margin: 6.8% (down from 11% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. 
