Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩8,980, the stock trades at a trailing P/E ratio of 53.6x. Average trailing P/E is 20x in the Machinery industry in South Korea. Total returns to shareholders of 18% over the past three years. Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: ₩168 (vs ₩271 loss in FY 2024) Full year 2025 results: EPS: ₩168 (up from ₩271 loss in FY 2024). Revenue: ₩23.1b (up 31% from FY 2024). Net income: ₩898.6m (up ₩2.35b from FY 2024). Profit margin: 3.9% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Announcement • Feb 25
FreeMs Corporation, Annual General Meeting, Mar 26, 2026 FreeMs Corporation, Annual General Meeting, Mar 26, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 8, oksan-ro 290beon-gil, gyeonggi-do, bucheon South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 16 April 2026. Payout ratio is a comfortable 75% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (1.0%). Declared Dividend • Nov 08
Dividend of ₩50.00 announced Dividend of ₩50.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 16th April 2026 Dividend yield will be 0.7%, which is lower than the industry average of 2.4%. 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 (50% cash payout ratio). The dividend has not increased over the past 6 years but payments have been stable during that time. Announcement • Nov 07
FreeMs Corporation announces Annual dividend, payable on April 16, 2026 FreeMs Corporation announced Annual dividend of KRW 50.0000 per share payable on April 16, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Reported Earnings • Mar 15
Full year 2024 earnings released: ₩271 loss per share (vs ₩137 profit in FY 2023) Full year 2024 results: ₩271 loss per share (down from ₩137 profit in FY 2023). Revenue: ₩17.7b (down 23% from FY 2023). Net loss: ₩1.45b (down 298% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Announcement • Feb 12
FreeMs Corporation, Annual General Meeting, Mar 26, 2025 FreeMs Corporation, Annual General Meeting, Mar 26, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 8, oksan-ro 290beon-gil, ojeong-gu, gyeonggi-do, bucheon South Korea New Risk • Dec 04
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 11% 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 1.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩80.2b market cap, or US$56.6m). New Risk • Nov 29
New major risk - Revenue and earnings growth Earnings have declined by 1.1% 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 1.1% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩60.9b market cap, or US$43.7m). Reported Earnings • Aug 16
Second quarter 2024 earnings released: ₩7.00 loss per share (vs ₩53.00 loss in 2Q 2023) Second quarter 2024 results: ₩7.00 loss per share (improved from ₩53.00 loss in 2Q 2023). Revenue: ₩5.27b (down 19% from 2Q 2023). Net loss: ₩38.1m (loss narrowed 87% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Board Change • Jul 23
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. 3 experienced directors. No highly experienced directors. 1 independent director (2 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. Announcement • Apr 25
Basan No.1 Partnership and Bashan Investment Co., Ltd. cancelled the acquisition of 40% stake in FreeMs Corporation (KOSDAQ:A053160) from Joo-Sik Jo, Jeong Bok-hee and Park Heung-Sik. Basan No.1 Partnership and Bashan Investment Co., Ltd. agreed to acquire 40% stake in FreeMs Corporation (KOSDAQ:A053160) from Joo-Sik Jo, Jeong Bok-hee and Park Heung-Sik for KRW 38.4 billion on January 5, 2024. The deal is expected to be completed on April 23, 2024. Basan No.1 Partnership and Bashan Investment Co., Ltd. cancelled the acquisition of 40% stake in FreeMs Corporation (KOSDAQ:A053160) from Joo-Sik Jo, Jeong Bok-hee and Park Heung-Sik on April 23, 2024. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩10,900, the stock trades at a trailing P/E ratio of 79.6x. Average trailing P/E is 13x in the Machinery industry in South Korea. Total loss to shareholders of 60% over the past three years. Buy Or Sell Opportunity • Mar 26
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 6.8% to ₩13,890. The fair value is estimated to be ₩11,144, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 20%. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: ₩137 (vs ₩247 in FY 2022) Full year 2023 results: EPS: ₩137 (down from ₩247 in FY 2022). Revenue: ₩22.9b (down 23% from FY 2022). Net income: ₩734.0m (down 45% from FY 2022). Profit margin: 3.2% (down from 4.5% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to ₩13,280, the stock trades at a trailing P/E ratio of 61.7x. Average trailing P/E is 16x in the Machinery industry in South Korea. Total loss to shareholders of 15% over the past three years. New Risk • Feb 17
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 8.0% 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 (8.0% average weekly change). Market cap is less than US$100m (₩87.4b market cap, or US$65.6m). Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩16,950, the stock trades at a trailing P/E ratio of 78.7x. Average trailing P/E is 14x in the Machinery industry in South Korea. Total returns to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩16,290, the stock trades at a trailing P/E ratio of 75.6x. Average trailing P/E is 15x in the Machinery industry in South Korea. Total loss to shareholders of 16% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩50.00 per share at 0.4% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 18 April 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩12,000, the stock trades at a trailing P/E ratio of 55.7x. Average trailing P/E is 15x in the Machinery industry in South Korea. Total returns to shareholders of 52% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 18 April 2023. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.1%). 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 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. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₩6,160, the stock trades at a trailing P/E ratio of 46.6x. Average trailing P/E is 15x in the Machinery industry in South Korea. Total returns to shareholders of 6.0% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₩9,480, the stock trades at a trailing P/E ratio of 63.4x. Average trailing P/E is 19x in the Machinery industry in South Korea. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₩9,070, the stock trades at a trailing P/E ratio of 60.7x. Average trailing P/E is 19x in the Machinery industry in South Korea. Total returns to shareholders of 46% 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 28% share price gain to ₩11,450, the stock trades at a trailing P/E ratio of 50.8x. Average trailing P/E is 20x in the Machinery industry in South Korea. Total returns to shareholders of 83% 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 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. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩8,850, the stock trades at a trailing P/E ratio of 37.1x. Average trailing P/E is 20x in the Machinery industry in South Korea. Total returns to shareholders of 42% over the past three years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩10,900, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 16x in the Machinery industry in South Korea. Total returns to shareholders of 70% over the past three years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩14,200, the stock trades at a trailing P/E ratio of 59.5x. Average trailing P/E is 18x in the Machinery industry in South Korea. Total returns to shareholders of 130% over the past three years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 25% share price gain to ₩17,350, the stock trades at a trailing P/E ratio of 72.7x. Average trailing P/E is 17x in the Machinery industry in South Korea. Total returns to shareholders of 188% 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: 19 April 2022. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (2.8%). 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 ₩12,500, the stock trades at a trailing P/E ratio of 52.4x. Average trailing P/E is 18x in the Machinery industry in South Korea. Total returns to shareholders of 123% over the past three years. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩14,950, the stock trades at a trailing P/E ratio of 58x. Average trailing P/E is 20x in the Machinery industry in South Korea. Total returns to shareholders of 134% over the past three years. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩17,900, the stock trades at a trailing P/E ratio of 69.5x. Average trailing P/E is 20x in the Machinery industry in South Korea. Total returns to shareholders of 177% over the past three years. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS ₩23.00 (vs ₩102 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ₩18.4b (flat on FY 2019). Net income: ₩115.7m (down 79% from FY 2019). Profit margin: 0.6% (down from 2.9% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 71% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Feb 11
FreeMs Corporation, Annual General Meeting, Mar 26, 2021 FreeMs Corporation, Annual General Meeting, Mar 26, 2021, at 10:00 Korea Standard Time. Is New 90 Day High Low • Jan 05
New 90-day high: ₩23,350 The company is up 155% from its price of ₩9,160 on 07 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 17% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩50.00 Per Share Will be paid on the 13th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.3% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (2.8%). Is New 90 Day High Low • Dec 06
New 90-day high: ₩10,350 The company is up 4.0% from its price of ₩10,000 on 07 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 17% over the same period. Is New 90 Day High Low • Oct 27
New 90-day low: ₩7,920 The company is down 18% from its price of ₩9,690 on 29 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 Machinery industry, which is down 2.0% over the same period.