Reported Earnings • Mar 21
Full year 2025 earnings released: EPS: ₩4,949 (vs ₩5,501 in FY 2024) Full year 2025 results: EPS: ₩4,949 (down from ₩5,501 in FY 2024). Revenue: ₩468.2b (down 8.1% from FY 2024). Net income: ₩41.6b (down 10.0% from FY 2024). Profit margin: 8.9% (down from 9.1% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Mar 04
ESTec Corporation, Annual General Meeting, Mar 24, 2026 ESTec Corporation, Annual General Meeting, Mar 24, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 22, yusangongdan 9-gil, gyeongsangnam-do, yangsan South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩850 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 20 April 2026. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (2.9%). Declared Dividend • Nov 08
Dividend of ₩850 announced Dividend of ₩850 is the same as last year. Ex-date: 29th December 2025 Payment date: 20th April 2026 Dividend yield will be 6.3%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
ESTec Corporation announces Annual dividend, payable on April 20, 2026 ESTec Corporation announced Annual dividend of KRW 850.0000 per share payable on April 20, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Aug 20
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 7.9% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (₩117.2b market cap, or US$83.8m). New Risk • Aug 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩139.5b (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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩139.5b market cap, or US$99.6m). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩18,300, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 10x in the Consumer Durables industry in South Korea. Total returns to shareholders of 235% over the past three years. Announcement • Mar 05
ESTec Corporation, Annual General Meeting, Mar 26, 2025 ESTec Corporation, Annual General Meeting, Mar 26, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 22, yusangongdan 9-gil, gyeongsangnam-do, yangsan South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩500 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 18 April 2025. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (2.8%). New Risk • Dec 08
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 (₩88.1b market cap, or US$61.9m). Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩10,880, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 12x in the Consumer Durables industry in South Korea. Total returns to shareholders of 15% over the past three years. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: ₩2,576 (vs ₩1,134 in FY 2022) Full year 2023 results: EPS: ₩2,576 (up from ₩1,134 in FY 2022). Revenue: ₩414.6b (down 12% from FY 2022). Net income: ₩21.7b (up 127% from FY 2022). Profit margin: 5.2% (up from 2.0% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩300 per share at 3.1% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.4%). Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: ₩1,134 (vs ₩4,142 loss in FY 2021) Full year 2022 results: EPS: ₩1,134 (up from ₩4,142 loss in FY 2021). Revenue: ₩468.4b (up 42% from FY 2021). Net income: ₩9.54b (up ₩44.4b from FY 2021). Profit margin: 2.0% (up from net loss in FY 2021). 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 85 percentage points per year, which is a significant difference in performance. Price Target Changed • Nov 16
Price target decreased to ₩9,000 Down from ₩12,500, the current price target is provided by 1 analyst. New target price is 9.1% above last closing price of ₩8,250. Stock is down 13% over the past year. The company is forecast to post a net loss per share of ₩644 next year compared to a net loss per share of ₩4,142 last year. 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. 11 experienced directors. No highly experienced directors. 1 independent director (10 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. Price Target Changed • Apr 27
Price target decreased to ₩12,500 Down from ₩15,000, the current price target is provided by 1 analyst. New target price is 53% above last closing price of ₩8,150. Stock is down 29% over the past year. The company is forecast to post earnings per share of ₩2,525 next year compared to a net loss per share of ₩4,142 last year. 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. 11 experienced directors. No highly experienced directors. 1 independent director (10 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. Upcoming Dividend • Dec 22
Upcoming dividend of ₩400 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 14 April 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.3%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.1%). Reported Earnings • Mar 21
Full year 2020 earnings released: EPS ₩1,449 (vs ₩2,045 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩312.5b (down 7.5% from FY 2019). Net income: ₩12.2b (down 29% from FY 2019). Profit margin: 3.9% (down from 5.1% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat and the company’s share price has also remained flat. Is New 90 Day High Low • Jan 11
New 90-day high: ₩11,900 The company is up 24% from its price of ₩9,560 on 13 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 29% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩600 Per Share Will be paid on the 9th of April to those who are registered shareholders by the 29th of December. The trailing yield of 5.9% is in the top quartile of South Korean dividend payers (2.6%), and it is higher than industry peers (1.1%). Is New 90 Day High Low • Dec 21
New 90-day high: ₩10,150 The company is up 15% from its price of ₩8,830 on 22 September 2020. The South Korean market is also up 15% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Consumer Durables industry, which is up 2.0% over the same period. Is New 90 Day High Low • Nov 11
New 90-day high: ₩9,570 The company is up 3.0% from its price of ₩9,250 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 Consumer Durables industry, which is down 4.0% over the same period. Is New 90 Day High Low • Oct 13
New 90-day high: ₩9,560 The company is up 5.0% from its price of ₩9,080 on 15 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 20% over the same period.