Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₩4,900, the stock trades at a trailing P/E ratio of 39.5x. Average trailing P/E is 18x in the Building industry in South Korea. Total returns to shareholders of 44% over the past three years. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: ₩125 (vs ₩227 in FY 2024) Full year 2025 results: EPS: ₩125 (down from ₩227 in FY 2024). Revenue: ₩25.2b (down 15% from FY 2024). Net income: ₩1.02b (down 47% from FY 2024). Profit margin: 4.0% (down from 6.5% in FY 2024). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year. Announcement • Mar 07
PlumbFast Co., Ltd., Annual General Meeting, Mar 26, 2026 PlumbFast Co., Ltd., Annual General Meeting, Mar 26, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 30, myeonghak 2-gil, yeondong-myeon, sejong South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩3,130, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 13x in the Building industry in South Korea. Total loss to shareholders of 11% over the past three years. Announcement • Feb 12
PlumbFast Co., Ltd. announces Annual dividend PlumbFast Co., Ltd. announced Annual dividend of KRW 80.0000 per share, ex-date on December 29, 2025 and record date on December 31, 2025. Announcement • Dec 17
PlumbFast Co., Ltd. (KOSDAQ:A035200) announces an Equity Buyback for KRW 1,000 million worth of its shares. PlumbFast Co., Ltd. (KOSDAQ:A035200) 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 Samsung Securities. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on December 16, 2026. As of December 16, 2025, the company had 1,858,197 shares in treasury within scope available for dividend and had 2,412 shares in treasury through other repurchase. New Risk • Nov 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 207% 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: Major Risk Earnings have declined by 2.4% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩27.9b market cap, or US$19.0m). Announcement • Oct 29
PlumbFast Co., Ltd. (KOSDAQ:A035200) announces an Equity Buyback for KRW 1,000 million worth of its shares. PlumbFast Co., Ltd. (KOSDAQ:A035200) 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 Samsung Securities. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on October 28, 2026. As of October 28, 2025, the company had 1,574,668 shares in treasury within scope available for dividend and had 2,412 shares in treasury through other repurchase. New Risk • Aug 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 8x increase in shares outstanding. 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 Risks Earnings have declined by 2.7% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 8x increase in shares outstanding). Minor Risk Dividend is not well covered by cash flows (dividend per share is over 5x cash flows per share). Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: ₩22.00 (vs ₩79.00 in 2Q 2024) Second quarter 2025 results: EPS: ₩22.00 (down from ₩79.00 in 2Q 2024). Revenue: ₩6.71b (down 12% from 2Q 2024). Net income: ₩184.2m (down 72% from 2Q 2024). Profit margin: 2.7% (down from 8.8% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 6% per year. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to ₩4,915, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 12x in the Building industry in South Korea. Total loss to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩6,080, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 10x in the Building industry in South Korea. Total loss to shareholders of 2.5% over the past three years. Reported Earnings • Mar 11
Full year 2024 earnings released: EPS: ₩227 (vs ₩167 in FY 2023) Full year 2024 results: EPS: ₩227 (up from ₩167 in FY 2023). Revenue: ₩29.7b (flat on FY 2023). Net income: ₩1.92b (up 35% from FY 2023). Profit margin: 6.5% (up from 4.8% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 5% per year. New Risk • Mar 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 10.0% 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 (10.0% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩47.1b market cap, or US$32.3m). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩4,265, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 15x in the Building industry in South Korea. Total loss to shareholders of 19% over the past three years. Announcement • Mar 01
PlumbFast Co., Ltd., Annual General Meeting, Mar 20, 2025 PlumbFast Co., Ltd., Annual General Meeting, Mar 20, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 30, myeonghak 2-gil, yeondong-myeon, sejong South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 11 April 2025. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (2.7%). Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩3,630, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 13x in the Building industry in South Korea. Total loss to shareholders of 45% over the past three years. New Risk • Nov 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% 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 Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Market cap is less than US$100m (₩25.5b market cap, or US$18.3m). Announcement • Nov 08
PlumbFast Co., Ltd. (KOSDAQ:A035200) announces an Equity Buyback for KRW 1,000 million worth of its shares. PlumbFast Co., Ltd. (KOSDAQ:A035200) 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 Samsung Securities. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on November 7, 2025. As of November 7, 2024, the company had 1,263,670 shares in treasury within scope available for dividend and had 2,412 shares in treasury through other repurchase. New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩22.5b market cap, or US$17.1m). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: ₩79.00 (vs ₩107 in 2Q 2023) Second quarter 2024 results: EPS: ₩79.00 (down from ₩107 in 2Q 2023). Revenue: ₩7.64b (down 4.2% from 2Q 2023). Net income: ₩668.8m (down 27% from 2Q 2023). Profit margin: 8.8% (down from 11% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩2,475, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 10x in the Building industry in South Korea. Total loss to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩3,875, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 10x in the Building industry in South Korea. Total loss to shareholders of 18% over the past three years. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: ₩167 (vs ₩156 in FY 2022) Full year 2023 results: EPS: ₩167 (up from ₩156 in FY 2022). Revenue: ₩29.5b (down 2.5% from FY 2022). Net income: ₩1.42b (up 7.0% from FY 2022). Profit margin: 4.8% (up from 4.4% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 11% per year. Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share at 1.2% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 11 April 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.8%). Reported Earnings • May 14
First quarter 2023 earnings released: EPS: ₩17.00 (vs ₩50.00 in 1Q 2022) First quarter 2023 results: EPS: ₩17.00 (down from ₩50.00 in 1Q 2022). Revenue: ₩6.90b (down 8.3% from 1Q 2022). Net income: ₩144.1m (down 66% from 1Q 2022). Profit margin: 2.1% (down from 5.6% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: ₩156 (vs ₩252 in FY 2021) Full year 2022 results: EPS: ₩156 (down from ₩252 in FY 2021). Revenue: ₩30.2b (up 2.2% from FY 2021). Net income: ₩1.32b (down 38% from FY 2021). Profit margin: 4.4% (down from 7.2% in FY 2021). 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 increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 17 April 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.7%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ₩38.00 (vs ₩51.00 in 3Q 2021) Third quarter 2022 results: EPS: ₩38.00 (down from ₩51.00 in 3Q 2021). Revenue: ₩7.03b (up 11% from 3Q 2021). Net income: ₩324.3m (down 25% from 3Q 2021). Profit margin: 4.6% (down from 6.8% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩4,145, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 17x in the Building industry in South Korea. Total returns to shareholders of 11% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 15% share price gain to ₩5,960, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 24x in the Building industry in South Korea. Total returns to shareholders of 84% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 06 April 2022. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (1.3%). Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₩6,430, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 28x in the Building industry in South Korea. Total returns to shareholders of 98% over the past three years. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS ₩51.00 (vs ₩18.00 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩6.33b (up 22% from 3Q 2020). Net income: ₩430.4m (up 174% from 3Q 2020). Profit margin: 6.8% (up from 3.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩7,190, the stock trades at a trailing P/E ratio of 36.5x. Average trailing P/E is 25x in the Building industry in South Korea. Total returns to shareholders of 64% over the past three years. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improved over the past week After last week's 18% share price gain to ₩9,470, the stock trades at a trailing P/E ratio of 48x. Average trailing P/E is 28x in the Building industry in South Korea. Total returns to shareholders of 109% over the past three years. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 16% share price gain to ₩6,980, the stock trades at a trailing P/E ratio of 35.5x. Average trailing P/E is 27x in the Building industry in South Korea. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improved over the past week After last week's 42% share price gain to ₩7,380, the stock trades at a trailing P/E ratio of 43.1x. Average trailing P/E is 22x in the Building industry in South Korea. Total returns to shareholders of 67% over the past three years. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS ₩171 (vs ₩124 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₩25.2b (down 14% from FY 2019). Net income: ₩1.50b (up 27% from FY 2019). Profit margin: 5.9% (up from 4.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 49% 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. Is New 90 Day High Low • Nov 11
New 90-day high: ₩5,760 The company is up 13% from its price of ₩5,110 on 13 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 3.0% over the same period. Valuation Update With 7 Day Price Move • Nov 09
Market bids up stock over the past week After last week's 23% share price gain to ₩5,120, the stock is trading at a trailing P/E ratio of 31.2x, up from the previous P/E ratio of 25.4x. This compares to an average P/E of 20x in the Building industry in South Korea. Total returns to shareholders over the past three years are 22%.