Board Change • May 17
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Director Kyunghee Kim was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • May 05
Price target increased by 11% to ₩191,938 Up from ₩172,188, the current price target is an average from 24 analysts. New target price is 9.9% below last closing price of ₩213,000. Stock is up 225% over the past year. The company is forecast to post earnings per share of ₩589 next year compared to a net loss per share of ₩15,508 last year. New Risk • Apr 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Announcement • Apr 26
L&F Co., Ltd. to Report Q1, 2026 Results on Apr 30, 2026 L&F Co., Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Price Target Changed • Apr 07
Price target increased by 12% to ₩156,180 Up from ₩139,380, the current price target is an average from 25 analysts. New target price is 15% below last closing price of ₩184,400. Stock is up 225% over the past year. The company is forecast to post earnings per share of ₩1,447 next year compared to a net loss per share of ₩15,508 last year. Breakeven Date Change • Mar 31
Forecast to breakeven in 2026 The 23 analysts covering L&F expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of ₩62.0b in 2026. Earnings growth of 101% is required to achieve expected profit on schedule. Reported Earnings • Mar 21
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: ₩15,508 loss per share (further deteriorated from ₩11,266 loss in FY 2024). Revenue: ₩2.15t (up 13% from FY 2024). Net loss: ₩533.5b (loss widened 41% from FY 2024). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 71%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Announcement • Feb 12
L&F Co., Ltd., Annual General Meeting, Mar 25, 2026 L&F Co., Ltd., Annual General Meeting, Mar 25, 2026, at 10:30 Tokyo Standard Time. Location: conference room, 11, igokdong-ro, dalseo-gu, daegu South Korea Major Estimate Revision • Feb 06
Consensus EPS estimates fall by 30% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₩3.01b to ₩2.78b. EPS estimate also fell from ₩1,482 per share to ₩1,037 per share. Net income forecast to grow 88% next year vs 42% growth forecast for Electrical industry in South Korea. Consensus price target broadly unchanged at ₩134,109. Share price fell 9.9% to ₩113,800 over the past week. Reported Earnings • Nov 19
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: ₩3,521 loss per share (further deteriorated from ₩2,268 loss in 3Q 2024). Revenue: ₩652.3b (up 86% from 3Q 2024). Net loss: ₩118.2b (loss widened 55% from 3Q 2024). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Oct 30
Consensus EPS estimates fall by 62% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -₩6,531 to -₩10,554 per share. Revenue forecast unchanged at ₩2.25b. Electrical industry in South Korea expected to see average net income growth of 49% next year. Consensus price target up from ₩96,186 to ₩106,864. Share price rose 10% to ₩125,100 over the past week. Price Target Changed • Oct 25
Price target increased by 14% to ₩100,826 Up from ₩88,565, the current price target is an average from 23 analysts. New target price is 25% below last closing price of ₩133,600. Stock is up 32% over the past year. The company is forecast to post a net loss per share of ₩6,442 next year compared to a net loss per share of ₩11,266 last year. Announcement • Aug 29
L&F Co., Ltd. announced that it expects to receive KRW 300 million in funding L&F Co., Ltd announced private placement of Series 7 Unregistered Non-Guaranteed convertible bonds and warrants for gross proceeds KRW 300,000,000 on August 28, 2025. Interest rate of the bonds is 1% and yield 3% per annum. The bonds mature on September 9, 2030. The transaction is expected to close on September 1, 2025. The transaction was approved by board of directors. New Risk • Aug 20
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩53b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩53b free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Reported Earnings • Aug 20
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: ₩3,334 loss per share (further deteriorated from ₩2,198 loss in 2Q 2024). Revenue: ₩520.1b (down 6.3% from 2Q 2024). Net loss: ₩111.9b (loss widened 52% from 2Q 2024). Revenue missed analyst estimates by 5.8%. Earnings per share (EPS) also missed analyst estimates by 143%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Aug 05
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩2.30b to ₩2.18b. Losses expected to increase from ₩5,120 per share to ₩5,733. Electrical industry in South Korea expected to see average net income growth of 38% next year. Consensus price target broadly unchanged at ₩85,667. Share price rose 8.2% to ₩71,300 over the past week. Major Estimate Revision • Aug 01
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩2.30b to ₩2.18b. Losses expected to increase from ₩5,120 per share to ₩5,804. Electrical industry in South Korea expected to see average net income growth of 40% next year. Consensus price target broadly unchanged at ₩85,750. Share price was steady at ₩66,700 over the past week. New Risk • Jul 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩111b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-₩111b free cash flow). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Major Estimate Revision • Jun 03
Consensus EPS estimates fall by 21% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -₩4,176 to -₩5,046 per share. Revenue forecast unchanged at ₩2.33b. Electrical industry in South Korea expected to see average net income growth of 36% next year. Consensus price target of ₩87,750 unchanged from last update. Share price rose 11% to ₩53,500 over the past week. Price Target Changed • May 13
Price target decreased by 7.8% to ₩89,500 Down from ₩97,043, the current price target is an average from 24 analysts. New target price is 40% above last closing price of ₩63,900. Stock is down 58% over the past year. The company is forecast to post a net loss per share of ₩4,176 next year compared to a net loss per share of ₩11,266 last year. Price Target Changed • Apr 10
Price target decreased by 9.3% to ₩99,435 Down from ₩109,652, the current price target is an average from 23 analysts. New target price is 67% above last closing price of ₩59,500. Stock is down 64% over the past year. The company is forecast to post a net loss per share of ₩2,300 next year compared to a net loss per share of ₩11,266 last year. Reported Earnings • Mar 14
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: ₩11,266 loss per share (further deteriorated from ₩5,813 loss in FY 2023). Revenue: ₩1.91t (down 59% from FY 2023). Net loss: ₩377.9b (loss widened 95% from FY 2023). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Announcement • Feb 25
L&F Co., Ltd., Annual General Meeting, Mar 19, 2025 L&F Co., Ltd., Annual General Meeting, Mar 19, 2025, at 10:30 Tokyo Standard Time. Location: conference room, 11, igokdong-ro, dalseo-gu, daegu South Korea Major Estimate Revision • Feb 06
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩2.38b to ₩2.31b. Now expected to report a loss of ₩1,227 per share instead of ₩125 per share profit previously forecast. Electrical industry in South Korea expected to see average net income growth of 29% next year. Consensus price target down from ₩132,385 to ₩119,579. Share price fell 4.4% to ₩83,000 over the past week. Major Estimate Revision • Jan 21
Consensus EPS estimates fall by 61% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩3.24b to ₩3.03b. EPS estimate also fell from ₩777 per share to ₩301 per share. Net income forecast to grow 85% next year vs 29% growth forecast for Electrical industry in South Korea. Consensus price target down from ₩141,737 to ₩133,316. Share price was steady at ₩88,000 over the past week. Price Target Changed • Dec 27
Price target decreased by 7.7% to ₩141,737 Down from ₩153,600, the current price target is an average from 19 analysts. New target price is 72% above last closing price of ₩82,500. Stock is down 60% over the past year. The company is forecast to post a net loss per share of ₩9,716 next year compared to a net loss per share of ₩5,813 last year. New Risk • Dec 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Major Estimate Revision • Nov 02
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩2.25b to ₩2.17b. Losses expected to increase from ₩8,720 per share to ₩9,900. Electrical industry in South Korea expected to see average net income growth of 32% next year. Consensus price target of ₩154,250 unchanged from last update. Share price rose 15% to ₩115,900 over the past week. Price Target Changed • Oct 30
Price target decreased by 10% to ₩153,600 Down from ₩171,048, the current price target is an average from 20 analysts. New target price is 37% above last closing price of ₩112,200. Stock is down 13% over the past year. The company is forecast to post a net loss per share of ₩8,720 next year compared to a net loss per share of ₩5,813 last year. Major Estimate Revision • Oct 18
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -₩7,298 to -₩8,451 per share. Revenue forecast unchanged at ₩2.22b. Electrical industry in South Korea expected to see average net income growth of 27% next year. Consensus price target broadly unchanged at ₩168,667. Share price fell 11% to ₩98,700 over the past week. New Risk • Aug 05
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 8.2% 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: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Price Target Changed • May 14
Price target decreased by 7.5% to ₩227,409 Down from ₩245,818, the current price target is an average from 22 analysts. New target price is 48% above last closing price of ₩154,000. Stock is down 39% over the past year. The company is forecast to post a net loss per share of ₩3,876 next year compared to a net loss per share of ₩5,813 last year. Major Estimate Revision • May 11
Consensus revenue estimates decrease by 11%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₩3.61b to ₩3.21b. EPS estimate increased from -₩699 to -₩363 per share. Electrical industry in South Korea expected to see average net income growth of 29% next year. Consensus price target down from ₩243,899 to ₩231,045. Share price fell 2.7% to ₩153,300 over the past week. Major Estimate Revision • Apr 16
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩3.93b to ₩3.71b. Now expected to report a loss of ₩391 per share instead of ₩468 per share profit previously forecast. Electrical industry in South Korea expected to see average net income growth of 24% next year. Consensus price target of ₩250,364 unchanged from last update. Share price fell 14% to ₩145,600 over the past week. Reported Earnings • Mar 15
Full year 2023 earnings released: ₩6,258 loss per share (vs ₩8,269 profit in FY 2022) Full year 2023 results: ₩6,258 loss per share (down from ₩8,269 profit in FY 2022). Revenue: ₩4.64t (up 20% from FY 2022). Net loss: ₩209.7b (down 178% from profit in FY 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 05
Price target decreased by 7.9% to ₩262,571 Down from ₩285,190, the current price target is an average from 21 analysts. New target price is 89% above last closing price of ₩138,600. Stock is down 36% over the past year. The company is forecast to post earnings per share of ₩4,596 next year compared to a net loss per share of ₩6,258 last year. Reported Earnings • Feb 05
Full year 2023 earnings released: ₩6,258 loss per share (vs ₩8,269 profit in FY 2022) Full year 2023 results: ₩6,258 loss per share (down from ₩8,269 profit in FY 2022). Revenue: ₩4.64t (up 20% from FY 2022). Net loss: ₩209.7b (down 178% from profit in FY 2022). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 02
Consensus revenue estimates decrease by 29% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₩6.25b to ₩4.45b. EPS estimate unchanged at ₩7,925 per share. Net income forecast to grow 26% next year vs 64% growth forecast for Electrical industry in South Korea. Consensus price target broadly unchanged at ₩278,048. Share price fell 4.1% to ₩152,900 over the past week. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₩157,500, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Electrical industry in South Korea. Total returns to shareholders of 114% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩196,400, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 14x in the Electrical industry in South Korea. Total returns to shareholders of 204% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩500 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 12% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of South Korean dividend payers (3.5%). In line with average of industry peers (0.3%). Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩176,300, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 11x in the Electronic industry in South Korea. Total returns to shareholders of 244% over the past three years. New Risk • Nov 13
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: 2.6% Last year net profit margin: 4.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (2.6% net profit margin). Price Target Changed • Nov 09
Price target decreased by 9.0% to ₩295,190 Down from ₩324,238, the current price target is an average from 21 analysts. New target price is 92% above last closing price of ₩153,400. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₩3,173 for next year compared to ₩8,269 last year. Announcement • Nov 04
L&F Co., Ltd. to Report Nine Months, 2023 Results on Nov 06, 2023 L&F Co., Ltd. announced that they will report nine months, 2023 results on Nov 06, 2023 Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩130,400, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Electronic industry in South Korea. Total returns to shareholders of 242% over the past three years. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩217,000, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 14x in the Electronic industry in South Korea. Total returns to shareholders of 400% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩411,453 per share. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩279,000, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 15x in the Electronic industry in South Korea. Total returns to shareholders of 714% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩409,182 per share. Buying Opportunity • Jun 08
Now 22% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be ₩346,313, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 94% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 121% in 2 years. Earnings is forecast to grow by 189% in the next 2 years. Reported Earnings • May 14
First quarter 2023 earnings released: ₩454 loss per share (vs ₩2,238 profit in 1Q 2022) First quarter 2023 results: ₩454 loss per share (down from ₩2,238 profit in 1Q 2022). Revenue: ₩1.36t (up 146% from 1Q 2022). Net loss: ₩15.1b (down 121% from profit in 1Q 2022). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has increased by 132% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 29
Price target increased by 7.3% to ₩373,529 Up from ₩348,000, the current price target is an average from 17 analysts. New target price is 41% above last closing price of ₩265,000. Stock is up 21% over the past year. The company is forecast to post earnings per share of ₩8,478 for next year compared to ₩8,269 last year. Buying Opportunity • Apr 25
Now 21% undervalued Over the last 90 days, the stock is up 42%. The fair value is estimated to be ₩345,618, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 91% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 26% per annum. Earnings is also forecast to grow by 32% per annum over the same time period. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩268,000, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 15x in the Electronic industry in South Korea. Total returns to shareholders of 1,573% over the past three years. Reported Earnings • Mar 18
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₩8,269 (up from ₩4,198 loss in FY 2021). Revenue: ₩3.89t (up 300% from FY 2021). Net income: ₩270.0b (up ₩383.1b from FY 2021). Profit margin: 6.9% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has increased by 139% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Feb 14
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₩6.23b to ₩6.14b. EPS estimate also fell from ₩10,581 per share to ₩8,358 per share. Net income forecast to grow 162% next year vs 8.9% growth forecast for Electronic industry in South Korea. Consensus price target broadly unchanged at ₩335,286. Share price rose 11% to ₩246,000 over the past week. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩207,500, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 9x in the Electronic industry in South Korea. Total returns to shareholders of 859% over the past three years. Major Estimate Revision • Nov 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from ₩4.15b to ₩4.05b. EPS estimate rose from ₩7,185 to ₩8,052. Net income forecast to grow 162% next year vs 13% growth forecast for Electronic industry in South Korea. Consensus price target of ₩353,571 unchanged from last update. Share price rose 3.0% to ₩231,800 over the past week. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced 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: Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: ₩2,746 (up from ₩419 loss in 3Q 2021). Revenue: ₩1.24t (up 416% from 3Q 2021). Net income: ₩91.2b (up ₩102.9b from 3Q 2021). Profit margin: 7.3% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) exceeded analyst estimates by 42%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 123% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Nov 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from ₩4.15b to ₩4.01b. EPS estimate rose from ₩7,185 to ₩8,098. Net income forecast to grow 840% next year vs 28% growth forecast for Electronic industry in South Korea. Consensus price target of ₩353,571 unchanged from last update. Share price was steady at ₩222,500 over the past week. Buying Opportunity • Jul 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.4%. The fair value is estimated to be ₩278,569, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 44% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • May 18
Price target increased to ₩335,000 Up from ₩306,000, the current price target is an average from 10 analysts. New target price is 35% above last closing price of ₩248,000. Stock is up 183% over the past year. The company is forecast to post earnings per share of ₩6,055 next year compared to a net loss per share of ₩4,198 last year. Price Target Changed • Apr 30
Price target increased to ₩306,667 Up from ₩286,000, the current price target is an average from 9 analysts. New target price is 40% above last closing price of ₩219,300. Stock is up 142% over the past year. The company is forecast to post earnings per share of ₩3,616 next year compared to a net loss per share of ₩4,198 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced 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: Insufficient board refreshment. Reported Earnings • Mar 16
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: ₩4,198 loss per share (down from ₩679 loss in FY 2020). Revenue: ₩970.8b (up 173% from FY 2020). Net loss: ₩113.1b (loss widened ₩97.9b from FY 2020). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 135%, compared to a 30% growth forecast for the industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 199 percentage points per year, which is a significant difference in performance. Price Target Changed • Dec 24
Price target increased to ₩271,667 Up from ₩247,143, the current price target is an average from 6 analysts. New target price is 29% above last closing price of ₩210,800. Stock is up 203% over the past year. The company is forecast to post earnings per share of ₩88.50 next year compared to a net loss per share of ₩687 last year. Upcoming Dividend • Dec 22
Inaugural dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. The company is not currently making a profit and is not cash flow positive. The company last paid an ordinary dividend in December 2021. The average dividend yield among industry peers is 0.4%. Reported Earnings • Nov 18
Third quarter 2021 earnings released: ₩419 loss per share (vs ₩160 loss in 3Q 2020) The company reported a decent third quarter result with improved revenues, although losses increased and control over costs was weaker. Third quarter 2021 results: Revenue: ₩240.7b (up 186% from 3Q 2020). Net loss: ₩11.7b (loss widened 232% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 213 percentage points per year, which is a significant difference in performance. Price Target Changed • Jul 20
Price target increased to ₩128,429 Up from ₩113,625, the current price target is an average from 7 analysts. New target price is 12% above last closing price of ₩114,700. Stock is up 219% over the past year. Price Target Changed • Jul 14
Price target increased to ₩121,286 Up from ₩111,125, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of ₩116,500. Stock is up 201% over the past year. Price Target Changed • May 28
Price target increased to ₩107,000 Up from ₩97,800, the current price target is an average from 6 analysts. New target price is 18% above last closing price of ₩90,600. Stock is up 284% over the past year. Price Target Changed • Apr 28
Price target increased to ₩97,800 Up from ₩82,400, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₩93,400. Stock is up 389% over the past year. Price Target Changed • Apr 02
Price target increased to ₩82,400 Up from ₩70,400, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₩81,600. Stock is up 355% over the past year. Reported Earnings • Mar 11
Full year 2020 earnings released: ₩687 loss per share (vs ₩428 loss in FY 2019) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: ₩356.1b (up 14% from FY 2019). Net loss: ₩15.2b (loss widened 69% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 125 percentage points per year, which is a significant difference in performance. Announcement • Feb 25
L&F Co., Ltd., Annual General Meeting, Mar 17, 2021 L&F Co., Ltd., Annual General Meeting, Mar 17, 2021, at 10:30 Korea Standard Time. Announcement • Feb 10
L&F Co., Ltd. announced that it expects to receive KRW 84.999980708 billion in funding L&F Co., Ltd. (KOSDAQ:A066970) announced a private placement of 3rd round unregistered non-guaranteed private convertible bonds for gross proceeds of KRW 9,000,000,000 and 628,793 registered redeemable convertible preferred shares at a price of KRW 73,156 per share for gross proceeds of KRW 45,999,980,708 for aggregate gross proceeds of KRW 54,999,980,708 on February 9, 2021. The transaction will include participation from Daishin-MYW New Technology Fund through third-party allotment method. The bonds do not carry any annual coupon and yield to maturity. The bonds will mature on February 17, 2026. The preferred shares are cumulative, participating and are redeemable from February 18, 2023 to February 17, 2026. The bonds are convertible into 109,510 common shares at fixed conversion price of KRW 109,510 per share from February 17, 2022 to January 17, 2026 and the preferred shares are convertible into 628,793 common shares from February 18, 2023 to February 17, 2026. The transaction is expected to close on February 17, 2021 and subscription date is February 15, 2021. The security issued in the transaction are subject to one year hold period. The transaction has been approved by the board of directors of the company. Is New 90 Day High Low • Feb 03
New 90-day high: ₩85,500 The company is up 104% from its price of ₩41,950 on 05 November 2020. The South Korean market is up 28% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 44% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩307 per share. Is New 90 Day High Low • Jan 04
New 90-day high: ₩76,500 The company is up 91% from its price of ₩40,050 on 06 October 2020. The South Korean market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩306 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩50.00 Per Share Will be paid on the 17th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.07% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (0.5%). Is New 90 Day High Low • Dec 15
New 90-day high: ₩57,000 The company is up 39% from its price of ₩41,100 on 16 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩242 per share.