Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩7,810, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Machinery industry in South Korea. Total loss to shareholders of 76% over the past three years. Announcement • Jun 24
COWINTECH Co. Ltd. (KOSDAQ:A282880) announces an Equity Buyback for KRW 1,500 million worth of its shares. COWINTECH Co. Ltd. (KOSDAQ:A282880) announces a share repurchase program. Under the program, the company will up to KRW 1,500 million worth of its shares pursuant to a trust contract with Mirae Asset Securities. The purpose of the program is to enhance shareholder value by stabilizing the stock price. The program will expire on June 24, 2027. As of June 23, 2026, the company had 102,667 shares in treasury within scope available for dividend and 53,753 shares through other repurchase. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩10,340, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Machinery industry in South Korea. Total loss to shareholders of 66% over the past three years. New Risk • Jun 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩147.5b (US$97.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.2% net profit margin). Market cap is less than US$100m (₩147.5b market cap, or US$97.2m). Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩12,880, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Machinery industry in South Korea. Total loss to shareholders of 57% over the past three years. Buy Or Sell Opportunity • May 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to ₩14,030. The fair value is estimated to be ₩17,802, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has declined by 13%. Revenue is forecast to grow by 65% in 2 years. Earnings are forecast to grow by 221% in the next 2 years. Major Estimate Revision • May 19
Consensus EPS estimates increase by 26% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from ₩1,082 to ₩1,361. Revenue forecast steady at ₩227.3m. Net income forecast to grow 817% next year vs 25% growth forecast for Machinery industry in South Korea. Consensus price target of ₩22,000 unchanged from last update. Share price fell 9.3% to ₩14,470 over the past week. New Risk • Mar 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩152.8b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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. Profit margins are more than 30% lower than last year (1.1% net profit margin). Market cap is less than US$100m (₩152.8b market cap, or US$99.8m). New Risk • Mar 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% 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. Profit margins are more than 30% lower than last year (1.1% net profit margin). Announcement • Mar 13
COWINTECH Co. Ltd., Annual General Meeting, Mar 26, 2026 COWINTECH Co. Ltd., Annual General Meeting, Mar 26, 2026, at 08:00 Tokyo Standard Time. Location: auditorium, 285, asanvalley-ro, dunpo-myeon, chungcheongnam-do, asan South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₩13,370, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the Machinery industry in South Korea. Total loss to shareholders of 46% over the past three years. Major Estimate Revision • Feb 14
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₩275.7m to ₩227.8m. EPS estimate fell from ₩1,389 to ₩1,082 per share. Net income forecast to grow 181% next year vs 36% growth forecast for Machinery industry in South Korea. Consensus price target up from ₩21,569 to ₩22,000. Share price was steady at ₩17,210 over the past week. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩17,820, the stock trades at a forward P/E ratio of 16x. Average forward 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 22
Upcoming dividend of ₩194 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 22 April 2026. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.0%). Declared Dividend • Nov 13
Dividend of ₩194 announced Shareholders will receive a dividend of ₩194. Ex-date: 29th December 2025 Payment date: 22nd April 2026 Dividend yield will be 1.2%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 263% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 12
COWINTECH Co. Ltd. announces Annual dividend, payable on April 22, 2026 COWINTECH Co. Ltd. announced Annual dividend of KRW 194.1747 per share payable on April 22, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Sep 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 9.2% 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 (9.2% average weekly change). Profit margins are more than 30% lower than last year (1.7% net profit margin). Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₩18,730, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Machinery industry in South Korea. Total loss to shareholders of 28% over the past three years. Buy Or Sell Opportunity • Sep 16
Now 20% undervalued Over the last 90 days, the stock has risen 19% to ₩14,410. The fair value is estimated to be ₩18,117, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% over the last 3 years. Earnings per share has grown by 32%. Revenue is forecast to grow by 67% in 2 years. Earnings are forecast to grow by 639% in the next 2 years. New Risk • Aug 29
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: 1.7% Last year net profit margin: 5.5% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.7% net profit margin). Major Estimate Revision • Aug 19
Consensus EPS estimates fall by 19%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from ₩238.7m to ₩250.8m. EPS estimate fell from ₩1,678 to ₩1,361 per share. Net income forecast to grow 11% next year vs 52% growth forecast for Machinery industry in South Korea. Consensus price target of ₩17,000 unchanged from last update. Share price was steady at ₩12,590 over the past week. Price Target Changed • May 20
Price target decreased by 23% to ₩17,000 Down from ₩22,000, the current price target is provided by 1 analyst. New target price is 42% above last closing price of ₩11,980. Stock is down 43% over the past year. The company is forecast to post earnings per share of ₩1,678 for next year compared to ₩1,437 last year. New Risk • Mar 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩141.4b (US$96.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (31% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩141.4b market cap, or US$96.0m). Reported Earnings • Mar 22
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₩1,480 (up from ₩1,175 in FY 2023). Revenue: ₩244.4b (down 27% from FY 2023). Net income: ₩16.2b (up 37% from FY 2023). Profit margin: 6.6% (up from 3.5% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Machinery industry in South Korea. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Mar 12
COWINTECH Co. Ltd., Annual General Meeting, Mar 26, 2025 COWINTECH Co. Ltd., Annual General Meeting, Mar 26, 2025, at 08:00 Tokyo Standard Time. Location: auditorium, 285, asanvalley-ro, dunpo-myeon, chungcheongnam-do, asan South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩243 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 28 April 2025. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩13,850, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Machinery industry in South Korea. Total loss to shareholders of 44% over the past three years. New Risk • Dec 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩141.3b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩141.3b market cap, or US$99.6m). Major Estimate Revision • Nov 20
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩344.9m to ₩297.3m. EPS estimate fell from ₩2,462 to ₩1,729 per share. Net income forecast to grow 17% next year vs 33% growth forecast for Machinery industry in South Korea. Consensus price target of ₩19,350 unchanged from last update. Share price fell 7.2% to ₩14,070 over the past week. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₩17,690, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Machinery industry in South Korea. Total loss to shareholders of 42% over the past three years. Major Estimate Revision • Aug 20
Consensus EPS estimates increase by 54%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₩349.4m to ₩330.4m. EPS estimate rose from ₩1,077 to ₩1,659. Net income forecast to grow 33% next year vs 27% growth forecast for Machinery industry in South Korea. Consensus price target down from ₩26,067 to ₩23,400. Share price was steady at ₩14,600 over the past week. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: ₩951 (vs ₩312 in 2Q 2023) Second quarter 2024 results: EPS: ₩951 (up from ₩312 in 2Q 2023). Revenue: ₩69.4b (down 28% from 2Q 2023). Net income: ₩10.4b (up 242% from 2Q 2023). Profit margin: 15% (up from 3.2% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in South Korea. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₩13,450, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Machinery industry in South Korea. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩17,005 per share. Buy Or Sell Opportunity • Aug 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 42% to ₩13,450. The fair value is estimated to be ₩17,005, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 50% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 136% in the next 2 years. Announcement • Jul 25
COWINTECH Co. Ltd. (KOSDAQ:A282880) announces an Equity Buyback for KRW 5,000 million worth of its shares. COWINTECH Co. Ltd. (KOSDAQ:A282880) announces a share repurchase program. Under the program, the company will up to KRW 5,000 million worth of its shares pursuant to a trust contract with Mirae Asset Securities. The purpose of the program is to enhance shareholder value by stabilizing the stock price. The program will expire on January 24, 2025. As of July 23, 2024, the company had 114,929 shares in treasury within scope available for dividend and 34,613 shares through other repurchase. Buy Or Sell Opportunity • Jul 01
Now 21% overvalued Over the last 90 days, the stock has fallen 28% to ₩19,280. The fair value is estimated to be ₩15,889, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 50% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 136% in the next 2 years. Price Target Changed • May 31
Price target decreased by 23% to ₩28,800 Down from ₩37,328, the current price target is an average from 3 analysts. New target price is 38% above last closing price of ₩20,900. Stock is down 36% over the past year. The company is forecast to post earnings per share of ₩1,357 for next year compared to ₩1,176 last year. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: ₩164 (vs ₩503 in 1Q 2023) First quarter 2024 results: EPS: ₩164 (down from ₩503 in 1Q 2023). Revenue: ₩53.4b (down 23% from 1Q 2023). Net income: ₩1.79b (down 63% from 1Q 2023). Profit margin: 3.3% (down from 7.1% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Machinery industry in South Korea. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Mar 26
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ₩1,175 (up from ₩278 in FY 2022). Revenue: ₩336.0b (up 67% from FY 2022). Net income: ₩11.8b (up 350% from FY 2022). Profit margin: 3.5% (up from 1.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.6%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Machinery industry in South Korea. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 02
Price target decreased by 16% to ₩39,950 Down from ₩47,767, the current price target is an average from 3 analysts. New target price is 56% above last closing price of ₩25,600. Stock is up 7.0% over the past year. The company is forecast to post earnings per share of ₩1,332 for next year compared to ₩493 last year. Upcoming Dividend • Dec 20
Upcoming dividend of ₩97.09 per share at 0.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.3%). Major Estimate Revision • Nov 21
Consensus EPS estimates fall by 21% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ₩1,951 to ₩1,545 per share. Revenue forecast steady at ₩344.3m. Net income forecast to grow 189% next year vs 39% growth forecast for Machinery industry in South Korea. Consensus price target down from ₩52,200 to ₩49,200. Share price was steady at ₩28,450 over the past week. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩25.00 (vs ₩110 in 3Q 2022) Third quarter 2023 results: EPS: ₩25.00 (down from ₩110 in 3Q 2022). Revenue: ₩81.2b (up 65% from 3Q 2022). Net income: ₩276.6m (down 74% from 3Q 2022). Profit margin: 0.3% (down from 2.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Machinery industry in South Korea. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩27,300, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Machinery industry in South Korea. Total returns to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩19,185 per share. New Risk • Aug 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% 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. This is currently the only risk that has been identified for the company. Price Target Changed • May 24
Price target increased by 17% to ₩41,300 Up from ₩35,282, the current price target is an average from 2 analysts. New target price is 29% above last closing price of ₩31,900. Stock is up 4.8% over the past year. The company is forecast to post earnings per share of ₩2,184 for next year compared to ₩508 last year. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩38,650, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 12x in the Machinery industry in South Korea. Total returns to shareholders of 64% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩97.09 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 17 April 2023. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩25,100, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 10x in the Machinery industry in South Korea. Total returns to shareholders of 4.7% over the past three years. Announcement • Jul 28
COWINTECH Co. Ltd. announced that it has received KRW 33 billion in funding On July 27, 2022, COWINTECH Co. Ltd. closed the transaction. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩22,950, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 8x in the Machinery industry in South Korea. Total returns to shareholders of 4.0% over the past year. Price Target Changed • Jun 01
Price target increased to ₩40,750 Up from ₩37,864, the current price target is an average from 2 analysts. New target price is 31% above last closing price of ₩31,150. Stock is up 34% over the past year. The company is forecast to post earnings per share of ₩1,456 for next year compared to ₩591 last year. Major Estimate Revision • May 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ₩203.3m to ₩232.8m. EPS estimate fell from ₩1,813 to ₩1,631. Net income forecast to grow 178% next year vs 24% growth forecast for Machinery industry in South Korea. Consensus price target of ₩39,000 unchanged from last update. Share price rose 5.2% to ₩31,550 over the past week. Upcoming Dividend • Dec 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 19 April 2022. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (2.8%). Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS ₩174 (vs ₩56.00 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩16.9b (up 188% from 3Q 2020). Net income: ₩1.14b (up ₩1.66b from 3Q 2020). Profit margin: 6.7% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improved over the past week After last week's 15% share price gain to ₩26,950, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 11x in the Machinery industry in South Korea. Total returns to shareholders of 21% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₩22,227 per share. Major Estimate Revision • Aug 14
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from ₩1,587 to ₩1,175 per share. Revenue forecast steady at ₩128.7m. Net income forecast to grow 237% next year vs 37% growth forecast for Machinery industry in South Korea. Consensus price target of ₩34,000 unchanged from last update. Share price rose 2.6% to ₩23,450 over the past week. Major Estimate Revision • May 18
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from ₩108.3m to ₩129.6m. EPS estimate fell from ₩1,785 to ₩1,587. Net income forecast to grow 388% next year vs 51% growth forecast for Machinery industry in South Korea. Consensus price target of ₩29,683 unchanged from last update. Share price rose 2.9% to ₩24,700 over the past week. Reported Earnings • May 12
First quarter 2021 earnings released: EPS ₩314 (vs ₩223 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: ₩23.3b (up 78% from 1Q 2020). Net income: ₩2.88b (up 42% from 1Q 2020). Profit margin: 12% (down from 16% in 1Q 2020). The decrease in margin was driven by higher expenses. Price Target Changed • Feb 23
Price target raised to ₩29,683 Up from ₩26,341, the current price target is an average from 4 analysts. The new target price is 18% above the current share price of ₩25,200. As of last close, the stock is down 19% over the past year. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 18% share price gain to ₩26,900, the stock is trading at a trailing P/E ratio of 53.7x, up from the previous P/E ratio of 45.6x. This compares to an average P/E of 25x in the Machinery industry in South Korea. Total returns to shareholders over the past year were flat. Is New 90 Day High Low • Jan 14
New 90-day high: ₩25,350 The company is up 28% from its price of ₩19,805 on 16 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Machinery industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩7,152 per share. Is New 90 Day High Low • Dec 23
New 90-day high: ₩23,000 The company is up 14% from its price of ₩20,150 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 Machinery industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩7,301 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩200 Per Share Will be paid on the 16th of April to those who are registered shareholders by the 29th of December. The trailing yield of 2.1% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (2.8%). Major Estimate Revision • Nov 19
Analysts update estimates The 2020 consensus revenue estimate was lowered from ₩96.2m to ₩68.3m. Earning per share (EPS) estimate was unchanged from the last update at ₩1,468. The Machinery industry in South Korea is expected to see an average net income growth of 35% next year. The consensus price target was lowered from ₩29,000 to ₩27,000. Share price is up 2.2% to ₩20,750 over the past week. Is New 90 Day High Low • Oct 19
New 90-day low: ₩20,100 The company is down 16% from its price of ₩24,000 on 21 July 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩5,512 per share. Is New 90 Day High Low • Sep 24
New 90-day low: ₩20,150 The company is down 21% from its price of ₩25,600 on 26 June 2020. The South Korean market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩5,325 per share.