Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩27,950, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Luxury industry in South Korea. Total returns to shareholders of 23% over the past three years. Price Target Changed • May 05
Price target increased by 10% to ₩32,286 Up from ₩29,333, the current price target is an average from 7 analysts. New target price is 22% above last closing price of ₩26,400. Stock is up 73% over the past year. The company is forecast to post earnings per share of ₩3,334 for next year compared to ₩2,153 last year. Price Target Changed • Mar 25
Price target increased by 8.2% to ₩28,500 Up from ₩26,333, the current price target is an average from 6 analysts. New target price is 6.5% above last closing price of ₩26,750. Stock is up 72% over the past year. The company is forecast to post earnings per share of ₩3,001 for next year compared to ₩2,153 last year. Reported Earnings • Mar 18
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ₩2,153 (up from ₩2,077 in FY 2024). Revenue: ₩1.49t (flat on FY 2024). Net income: ₩46.2b (up 3.6% from FY 2024). Profit margin: 3.1% (up from 3.0% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Luxury industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Feb 24
HANDSOME Corporation, Annual General Meeting, Mar 24, 2026 HANDSOME Corporation, Annual General Meeting, Mar 24, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 523, dosan-daero, gangnam-gu, seoul South Korea Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩21,050, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Luxury industry in South Korea. Total loss to shareholders of 14% over the past three years. Declared Dividend • Feb 11
Dividend of ₩750 announced Dividend of ₩750 is the same as last year. Ex-date: 2nd April 2026 Payment date: 1st January 1970 Dividend yield will be 3.4%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but not covered by cash flows (144% cash payout ratio). The dividend has increased by an average of 11% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 71% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Feb 11
Consensus EPS estimates increase by 41% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from ₩1.51b to ₩1.56b. EPS estimate increased from ₩2,033 to ₩2,859 per share. Net income forecast to grow 63% next year vs 38% growth forecast for Luxury industry in South Korea. Consensus price target up from ₩17,000 to ₩20,167. Share price rose 16% to ₩22,100 over the past week. Price Target Changed • Feb 10
Price target increased by 11% to ₩17,833 Up from ₩16,000, the current price target is an average from 6 analysts. New target price is 16% below last closing price of ₩21,200. Stock is up 38% over the past year. The company is forecast to post earnings per share of ₩1,789 for next year compared to ₩2,077 last year. Announcement • Feb 10
HANDSOME Corporation announces Annual dividend HANDSOME Corporation announced Annual dividend of KRW 750.0000 per share, ex-date on April 02, 2026 and record date on April 03, 2026. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩17,620, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 7x in the Luxury industry in South Korea. Total loss to shareholders of 29% over the past three years. New Risk • Nov 23
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 144% Dividend yield: 4.6% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (144% cash payout ratio). Profit margins are more than 30% lower than last year (2.4% net profit margin). Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ₩114 (vs ₩110 in 2Q 2024) Second quarter 2025 results: EPS: ₩114 (up from ₩110 in 2Q 2024). Revenue: ₩338.1b (down 1.1% from 2Q 2024). Net income: ₩2.45b (up 3.5% from 2Q 2024). Profit margin: 0.7% (in line with 2Q 2024). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Luxury industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Aug 06
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩1.50b to ₩1.47b. EPS estimate also fell from ₩2,326 per share to ₩1,978 per share. Net income forecast to grow 20% next year vs 25% growth forecast for Luxury industry in South Korea. Consensus price target broadly unchanged at ₩17,400. Share price fell 3.8% to ₩15,650 over the past week. Announcement • Jul 31
HANDSOME Corporation to Report First Half, 2025 Results on Aug 04, 2025 HANDSOME Corporation announced that they will report first half, 2025 results on Aug 04, 2025 Price Target Changed • Jul 16
Price target decreased by 7.0% to ₩18,750 Down from ₩20,167, the current price target is an average from 6 analysts. New target price is 6.5% above last closing price of ₩17,600. Stock is down 0.3% over the past year. The company is forecast to post earnings per share of ₩2,326 for next year compared to ₩2,077 last year. New Risk • May 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.6% 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 1.6% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (3.0% net profit margin). Major Estimate Revision • May 08
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₩2,722 to ₩2,285 per share. Revenue forecast steady at ₩1.51b. Net income forecast to grow 38% next year vs 46% growth forecast for Luxury industry in South Korea. Consensus price target of ₩20,500 unchanged from last update. Share price was steady at ₩15,170 over the past week. Buy Or Sell Opportunity • Apr 04
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 1.2% to ₩14,860. The fair value is estimated to be ₩12,382, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 30%. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings are also forecast to grow by 0.2% per annum over the same time period. Reported Earnings • Mar 20
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₩2,077 (down from ₩3,818 in FY 2023). Revenue: ₩1.49t (down 2.8% from FY 2023). Net income: ₩44.6b (down 47% from FY 2023). Profit margin: 3.0% (down from 5.5% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 2.4% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Luxury industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 30% 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. Price Target Changed • Mar 08
Price target decreased by 8.4% to ₩20,833 Down from ₩22,750, the current price target is an average from 6 analysts. New target price is 29% above last closing price of ₩16,210. Stock is down 15% over the past year. The company is forecast to post earnings per share of ₩2,457 for next year compared to ₩3,818 last year. Announcement • Feb 22
HANDSOME Corporation, Annual General Meeting, Mar 24, 2025 HANDSOME Corporation, Annual General Meeting, Mar 24, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 523, dosan-daero, gangnam-gu, seoul South Korea Major Estimate Revision • Feb 11
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 ₩1.57b to ₩1.52b. EPS estimate also fell from ₩3,204 per share to ₩2,793 per share. Net income forecast to grow 14% next year vs 42% growth forecast for Luxury industry in South Korea. Consensus price target down from ₩22,750 to ₩22,250. Share price was steady at ₩15,180 over the past week. Announcement • Feb 06
HANDSOME Corporation to Report Fiscal Year 2024 Results on Feb 07, 2025 HANDSOME Corporation announced that they will report fiscal year 2024 results on Feb 07, 2025 Price Target Changed • Dec 17
Price target decreased by 7.9% to ₩22,750 Down from ₩24,714, the current price target is an average from 8 analysts. New target price is 47% above last closing price of ₩15,430. Stock is down 20% over the past year. The company is forecast to post earnings per share of ₩2,457 for next year compared to ₩3,818 last year. Price Target Changed • Dec 14
Price target decreased by 11% to ₩23,000 Down from ₩25,857, the current price target is an average from 8 analysts. New target price is 46% above last closing price of ₩15,750. Stock is down 19% over the past year. The company is forecast to post earnings per share of ₩2,475 for next year compared to ₩3,818 last year. Buy Or Sell Opportunity • Sep 10
Now 20% overvalued Over the last 90 days, the stock has fallen 11% to ₩16,000. The fair value is estimated to be ₩13,305, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 9.4% in 2 years. Earnings are forecast to grow by 66% in the next 2 years. Announcement • Aug 08
HANDSOME Corporation (KOSE:A020000) completed the acquisition of remaining 49% stake in HANDSOME LIFE& Corporation from Lee Mi Kyung and others for KRW 6.4 billion. HANDSOME Corporation (KOSE:A020000) agreed to acquire remaining 49% stake in HANDSOME LIFE& Corporation from Lee Mi Kyung and others for KRW 6.4 billion on August 6, 2024. A cash consideration of KRW 6.41 billion valued at KRW 75,000 per share will be paid by HANDSOME Corporation. As part of consideration, KRW 6.41 billion is paid towards common equity of HANDSOME LIFE& Corporation. Upon completion, HANDSOME Corporation will own 100% stake in HANDSOME LIFE& Corporation.
For the period ending December 31, 2023, HANDSOME LIFE& Corporation reported total revenue of KRW 4.77 billion and net loss of KRW 5.88 billion. As of December 31, 2023, HANDSOME LIFE& Corporation reported total debt of KRW 12.86 billion, total assets of KRW 7.62 billion and net liabilities of KRW 5.23 billion.
The expected completion of the transaction is August 6, 2024.
HANDSOME Corporation (KOSE:A020000) completed the acquisition of remaining 49% stake in HANDSOME LIFE& Corporation from Lee Mi Kyung and others on August 6, 2024 Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: ₩3,818 (vs ₩5,599 in FY 2022) Full year 2023 results: EPS: ₩3,818 (down from ₩5,599 in FY 2022). Revenue: ₩1.53t (flat on FY 2022). Net income: ₩83.9b (down 32% from FY 2022). Profit margin: 5.5% (down from 8.0% in FY 2022). Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Luxury industry in South Korea. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩21,450, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Luxury industry in South Korea. Total loss to shareholders of 37% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩750 per share at 3.9% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 3.9%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (2.7%). Announcement • Dec 15
HANDSOME Corporation(KOSE:A020000) dropped from KOSPI 200 Index HANDSOME Corporation removed Major Estimate Revision • Nov 11
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ₩3,650 to ₩3,058 per share. Revenue forecast steady at ₩1.53b. Net income forecast to shrink 25% next year vs 0.4% growth forecast for Luxury industry in South Korea . Consensus price target down from ₩28,063 to ₩26,563. Share price rose 2.6% to ₩19,690 over the past week. Price Target Changed • Sep 14
Price target decreased by 7.2% to ₩28,357 Down from ₩30,563, the current price target is an average from 7 analysts. New target price is 46% above last closing price of ₩19,440. Stock is down 28% over the past year. The company is forecast to post earnings per share of ₩3,717 for next year compared to ₩5,599 last year. Major Estimate Revision • Aug 10
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₩1.58b to ₩1.55b. EPS estimate also fell from ₩5,000 per share to ₩3,905 per share. Net income forecast to shrink 19% next year vs 14% growth forecast for Luxury industry in South Korea . Consensus price target down from ₩33,375 to ₩30,563. Share price fell 6.9% to ₩19,790 over the past week. Price Target Changed • Aug 09
Price target decreased by 8.4% to ₩30,563 Down from ₩33,375, the current price target is an average from 8 analysts. New target price is 58% above last closing price of ₩19,340. Stock is down 34% over the past year. The company is forecast to post earnings per share of ₩4,501 for next year compared to ₩5,599 last year. Reported Earnings • Mar 18
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: ₩5,599 (up from ₩5,214 in FY 2021). Revenue: ₩1.54t (up 11% from FY 2021). Net income: ₩123.0b (up 7.4% from FY 2021). Profit margin: 8.0% (down from 8.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 6.6%. Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Luxury industry in South Korea. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩600 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of South Korean dividend payers (3.3%). In line with average of industry peers (2.1%). Price Target Changed • Nov 20
Price target decreased to ₩44,000 Down from ₩47,833, the current price target is an average from 7 analysts. New target price is 69% above last closing price of ₩26,050. Stock is down 32% over the past year. The company is forecast to post earnings per share of ₩5,252 for next year compared to ₩5,214 last year. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Sang-Kyoung Jeon was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Aug 21
Second quarter 2022 earnings released: EPS: ₩834 (vs ₩864 in 2Q 2021) Second quarter 2022 results: EPS: ₩834 (down from ₩864 in 2Q 2021). Revenue: ₩357.4b (up 14% from 2Q 2021). Net income: ₩18.3b (down 3.5% from 2Q 2021). Profit margin: 5.1% (down from 6.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.5%, compared to a 18% growth forecast for the Luxury industry in South Korea. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Aug 17
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Sang-Kyoung Jeon was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. 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. 6 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Independent Outside Director Eui-Man Park was the last independent director to join the board, commencing their role in 2015. 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 ₩450 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 22 April 2022. Payout ratio is a comfortable 9.2% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (1.8%). Reported Earnings • Nov 21
Third quarter 2021 earnings released: EPS ₩1,111 (vs ₩895 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩296.4b (up 14% from 3Q 2020). Net income: ₩24.4b (up 24% from 3Q 2020). Profit margin: 8.2% (up from 7.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • May 13
Price target increased to ₩52,429 Up from ₩48,667, the current price target is an average from 6 analysts. New target price is 7.3% above last closing price of ₩48,850. Stock is up 60% over the past year. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 24% share price gain to ₩51,000, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Luxury industry in South Korea. Total returns to shareholders of 49% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩48,450 per share. Price Target Changed • Apr 25
Price target increased to ₩48,667 Up from ₩45,000, the current price target is an average from 5 analysts. New target price is 17% above last closing price of ₩41,750. Stock is up 84% over the past year. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS ₩3,873 (vs ₩3,881 in FY 2019) The company reported a mediocre full year result with weaker revenues, although earnings were flat and profit margins improved. Full year 2020 results: Revenue: ₩1.20t (down 5.1% from FY 2019). Net income: ₩85.1b (flat on FY 2019). Profit margin: 7.1% (up from 6.8% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 23
New 90-day high: ₩38,700 The company is up 28% from its price of ₩30,150 on 25 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩68,555 per share. Announcement • Feb 20
HANDSOME Corp., Annual General Meeting, Mar 23, 2021 HANDSOME Corp., Annual General Meeting, Mar 23, 2021, at 10:00 Korea Standard Time. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improved over the past week After last week's 19% share price gain to ₩37,100, the stock is trading at a trailing P/E ratio of 9.7x, up from the previous P/E ratio of 8.1x. This compares to an average P/E of 17x in the Luxury industry in South Korea. Total returns to shareholders over the past three years are 26%. Is New 90 Day High Low • Feb 08
New 90-day high: ₩37,100 The company is up 24% from its price of ₩29,950 on 10 November 2020. The South Korean market is up 25% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Luxury industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩62,936 per share. Announcement • Feb 04
HANDSOME Corp. to Report Fiscal Year 2020 Results on Feb 05, 2021 HANDSOME Corp. announced that they will report fiscal year 2020 results on Feb 05, 2021 Is New 90 Day High Low • Jan 05
New 90-day high: ₩30,750 The company is up 4.0% from its price of ₩29,650 on 07 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩64,094 per share. Price Target Changed • Nov 18
Price target raised to ₩43,500 Up from ₩38,500, the current price target is an average from 6 analysts. The new target price is 45% above the current share price of ₩29,900. As of last close, the stock is down 3.5% over the past year. Announcement • Nov 07
HANDSOME Corp. to Report Nine Months, 2020 Final Results on Nov 06, 2020 HANDSOME Corp. announced that they will report nine months, 2020 final results on Nov 06, 2020 Is New 90 Day High Low • Oct 30
New 90-day low: ₩27,850 The company is down 8.0% from its price of ₩30,300 on 31 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 Luxury 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 ₩70,683 per share. Announcement • Aug 09
HANDSOME Corp. to Report First Half, 2020 Results on Aug 11, 2020 HANDSOME Corp. announced that they will report first half, 2020 results on Aug 11, 2020