Modetour Network (KOSDAQ:A080160) - Share price, News & Analysis

Q: What is the Fair Price of A080160 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

A080160 (₩16150) is trading below our estimate of [[fair value]] (₩24943.35)

A080160 fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	6/6
Past Performance	1/6
Financial Health	2/6
Dividends	0/6

A080160 Stock Overview

Modetour Network Inc. operates as a travel company in South Korea and internationally.

Rewards

Trading at 35.3% below our estimate of its fair value

Earnings are forecast to grow 46.83% per year

Became profitable this year

Risk Analysis

High level of non-cash earnings

Modetour Network Competitors

Seobu T&D

KOSDAQ:A006730

₩496.2b

HJ Magnolia Yongpyong Hotel & Resort

KOSE:A070960

₩194.2b

Kyochon Food&Beverage

KOSE:A339770

₩306.0b

SHINSEGAE FOOD

KOSE:A031440

₩245.5b

Price History & Performance

Summary of all time highs, changes and price drops for Modetour Network
Historical stock prices
Current Share Price	₩16,150.00
52 Week High	₩29,300.00
52 Week Low	₩14,350.00
Beta	1.51
1 Month Change	6.25%
3 Month Change	-20.64%
1 Year Change	-31.57%
3 Year Change	6.95%
5 Year Change	-44.12%
Change since IPO	315.44%

Shareholder Returns

	A080160	KR Hospitality	KR Market
7D	2.2%	2.2%	1.2%
1Y	-31.6%	-15.6%	-20.1%

Return vs Industry: A080160 underperformed the KR Hospitality industry which returned -15.6% over the past year.

Return vs Market: A080160 underperformed the KR Market which returned -20.1% over the past year.

Price Volatility

Is A080160's price volatile compared to industry and market?
A080160 volatility
A080160 Average Weekly Movement	5.8%
Hospitality Industry Average Movement	5.5%
Market Average Movement	6.4%
10% most volatile stocks in KR Market	10.9%
10% least volatile stocks in KR Market	3.9%

Stable Share Price: A080160 is not significantly more volatile than the rest of KR stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: A080160's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1989	655	Ok-Min Han	https://www.modetournetwork.com

Modetour Network Inc. operates as a travel company in South Korea and internationally. It is involved in tourist agency, airline tickets sale, and other tourist agency activities; and exhibitions and event agency, advertising, hotel, education, cruise ships distribution, and B2B package businesses. The company was founded in 1989 and is based in Seoul, South Korea.

Modetour Network Fundamentals Summary

How do Modetour Network's earnings and revenue compare to its market cap?
A080160 fundamental statistics
Market Cap	₩280.42b
Earnings (TTM)	₩16.49b
Revenue (TTM)	₩16.13b

17.0x

P/E Ratio

17.4x

P/S Ratio

Is A080160 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
A080160 income statement (TTM)
Revenue	₩16.13b
Cost of Revenue	₩6.97b
Gross Profit	₩9.16b
Other Expenses	-₩7.33b
Earnings	₩16.49b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	949.84
Gross Margin	56.79%
Net Profit Margin	102.23%
Debt/Equity Ratio	82.7%

How did A080160 perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is A080160 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for A080160?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for A080160. This is calculated by dividing A080160's market cap by their current preferred multiple.
What is A080160's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₩280.42b

A080160 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	21.5x
Enterprise Value/EBITDA	-19x
PEG Ratio	0.4x

Price to Earnings Ratio vs Peers

How does A080160's PE Ratio compare to its peers?

A080160 PE Ratio vs Peers

The above table shows the PE ratio for A080160 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	31.3x
A006730 Seobu T&D	11.6x	n/a	₩496.2b
A070960 HJ Magnolia Yongpyong Hotel & Resort	18.5x	n/a	₩194.2b
A339770 Kyochon Food&Beverage	10.7x	16.0%	₩306.0b
A031440 SHINSEGAE FOOD	84.4x	38.0%	₩245.5b
A080160 Modetour Network	17x	46.8%	₩280.4b

Price-To-Earnings vs Peers: A080160 is good value based on its Price-To-Earnings Ratio (17x) compared to the peer average (31.3x).

Price to Earnings Ratio vs Industry

How does A080160's PE Ratio compare vs other companies in the Asian Hospitality Industry?

Price-To-Earnings vs Industry: A080160 is expensive based on its Price-To-Earnings Ratio (17x) compared to the KR Hospitality industry average (17x)

Price to Earnings Ratio vs Fair Ratio

What is A080160's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

A080160 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	17x
Fair PE Ratio	16.4x

Price-To-Earnings vs Fair Ratio: A080160 is expensive based on its Price-To-Earnings Ratio (17x) compared to the estimated Fair Price-To-Earnings Ratio (16.4x).

Share Price vs Fair Value

What is the Fair Price of A080160 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: A080160 (₩16150) is trading below our estimate of fair value (₩24943.35)

Significantly Below Fair Value: A080160 is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Future Growth

How is Modetour Network forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

6/6

Future Growth Score 6/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

46.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: A080160's forecast earnings growth (46.8% per year) is above the savings rate (3.6%).

Earnings vs Market: A080160's earnings (46.8% per year) are forecast to grow faster than the KR market (16.3% per year).

High Growth Earnings: A080160's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: A080160's revenue (79.1% per year) is forecast to grow faster than the KR market (9.8% per year).

High Growth Revenue: A080160's revenue (79.1% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: A080160's Return on Equity is forecast to be high in 3 years time (23.5%)

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Past Performance

How has Modetour Network performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-53.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: A080160 has a high level of non-cash earnings.

Growing Profit Margin: A080160 became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: A080160's earnings have declined by 53.3% per year over the past 5 years.

Accelerating Growth: A080160 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: A080160 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Hospitality industry (5.4%).

Return on Equity

High ROE: A080160's Return on Equity (18.1%) is considered low.

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Financial Health

How is Modetour Network's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: A080160's short term assets (₩66.2B) do not cover its short term liabilities (₩152.4B).

Long Term Liabilities: A080160's short term assets (₩66.2B) exceed its long term liabilities (₩9.1B).

Debt to Equity History and Analysis

Debt Level: A080160's net debt to equity ratio (33.8%) is considered satisfactory.

Reducing Debt: A080160's debt to equity ratio has increased from 4.8% to 82.7% over the past 5 years.

Debt Coverage: A080160's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if A080160's interest payments on its debt are well covered by EBIT.

Balance Sheet

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Dividend

What is Modetour Network current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

1.08%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate A080160's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate A080160's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if A080160's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if A080160's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: A080160 is not paying a notable dividend for the KR market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as A080160 has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

CEO

Ok-Min Han (63 yo)

no data

Tenure

Mr. Ok-Min Han serves as Chief Executive Officer, President and Director at MODETOUR NETWORK Inc. Mr Han served as a Vice President of Modetour Network Inc. Ok-Min Han served as the Managing Director of M...

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/08/13 00:00
End of Day Share Price	2022/08/12 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31