Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩7,760, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 19x in the Healthcare industry in Asia. Total returns to shareholders of 103% over the past three years. New Risk • Jun 12
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 13% 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 Earnings have declined by 47% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.3% net profit margin). Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩7,040, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 19x in the Healthcare industry in Asia. Total returns to shareholders of 75% over the past three years. New Risk • May 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩141.7b (US$94.0m) 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 Earnings have declined by 46% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.6% net profit margin). Market cap is less than US$100m (₩141.7b market cap, or US$94.0m). Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩9,520, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 20x in the Healthcare industry in Asia. Total returns to shareholders of 140% over the past three years. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩10,280, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 20x in the Healthcare industry in Asia. Total returns to shareholders of 163% over the past three years. New Risk • Apr 01
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: 7.6% Last year net profit margin: 15% 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 Risk Earnings have declined by 46% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.6% net profit margin). Announcement • Mar 17
Wonik Corporation, Annual General Meeting, Mar 31, 2026 Wonik Corporation, Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: av room, 20, pangyo-ro 255beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to ₩9,410, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 20x in the Healthcare industry in Asia. Total returns to shareholders of 124% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₩13,940, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 19x in the Healthcare industry in Asia. Total returns to shareholders of 240% over the past three years. New Risk • Dec 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 13% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 38% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Reported Earnings • Nov 20
Third quarter 2025 earnings released: EPS: ₩455 (vs ₩295 in 3Q 2024) Third quarter 2025 results: EPS: ₩455 (up from ₩295 in 3Q 2024). Revenue: ₩39.6b (up 18% from 3Q 2024). Net income: ₩8.28b (up 55% from 3Q 2024). Profit margin: 21% (up from 16% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩8,720, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 20x in the Healthcare industry in Asia. Total returns to shareholders of 144% over the past three years. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩9,300, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 20x in the Healthcare industry in Asia. Total returns to shareholders of 207% over the past three years. Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩6,980, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 43x in the Healthcare industry in South Korea. Total returns to shareholders of 88% over the past three years. New Risk • Aug 27
New major risk - Revenue and earnings growth Earnings have declined by 34% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 34% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩116.3b market cap, or US$83.4m). Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩7,710, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 20x in the Healthcare industry in Asia. Total returns to shareholders of 111% over the past three years. Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩4,620, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 39x in the Healthcare industry in South Korea. Negligible returns to shareholders over past three years. New Risk • May 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 122% 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 Large one-off items impacting financial results. Market cap is less than US$100m (₩68.0b market cap, or US$49.5m). Announcement • Mar 13
Wonik Corporation, Annual General Meeting, Mar 31, 2025 Wonik Corporation, Annual General Meeting, Mar 31, 2025, at 09:01 Tokyo Standard Time. Location: av room, 20, pangyo-ro 255beon-gil, bundang-gu, gyeonggi-do, seongnam South Korea New Risk • Feb 21
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 10% 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 Earnings have declined by 8.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (₩85.0b market cap, or US$59.3m). New Risk • Dec 09
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 Risk Market cap is less than US$100m (₩56.4b market cap, or US$39.6m). New Risk • Nov 22
New major risk - Revenue and earnings growth Earnings have declined by 8.8% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 8.8% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩61.8b market cap, or US$44.1m). Announcement • Aug 22
Horizon Ltd. acquired an additional 38.18% stake in Wonik Corporation (KOSDAQ:A032940) from Lee Yong Han. Horizon Ltd. acquired an additional 38.18% stake in Wonik Corporation (KOSDAQ:A032940) on August 20, 2024.Horizon now holds 46.33% stake in Wonik. The transaction will be financed through equity investment of KRW 5 billion and senior debt of KRW 21.29 billion.
Horizon Ltd. completed the acquisition of an additional 38.18% stake in Wonik Corporation (KOSDAQ:A032940) from Lee Yong Han on August 20, 2024. New Risk • May 21
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 Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (₩93.1b market cap, or US$68.5m). Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩4,375, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 24x in the Healthcare industry in Asia. Total loss to shareholders of 6.5% over the past three years. 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. 6 experienced directors. 1 highly experienced director. 1 independent director (6 non-independent directors). Chairman Yong-Han Lee was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩3,565, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 17x in the Healthcare industry in Asia. Total loss to shareholders of 9.9% over the past three years. 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. 1 highly experienced director. 1 independent director (6 non-independent directors). Chairman Yong-Han Lee was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Feb 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.5%. The fair value is estimated to be ₩5,083, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% per annum over the last 3 years. The company has become profitable over the last year. Buying Opportunity • Jan 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be ₩5,071, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% per annum over the last 3 years. The company has become profitable over the last year. Is New 90 Day High Low • Feb 26
New 90-day low: ₩4,265 The company is down 3.0% from its price of ₩4,395 on 27 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Healthcare industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 26
New 90-day high: ₩5,150 The company is up 51% from its price of ₩3,415 on 28 October 2020. The South Korean market is up 36% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Healthcare industry, which is up 72% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: ₩5,020 The company is up 44% from its price of ₩3,480 on 08 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Healthcare industry, which is up 56% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: ₩4,905 The company is up 41% from its price of ₩3,475 on 18 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Healthcare industry, which is up 50% over the same period. Valuation Update With 7 Day Price Move • Dec 01
Market bids up stock over the past week After last week's 17% share price gain to ₩4,605, the stock is trading at a trailing P/E ratio of 34.3x, up from the previous P/E ratio of 29.3x. This compares to an average P/E of 25x in the Healthcare industry in Asia. Total return to shareholders over the past three years is a loss of 16%. Is New 90 Day High Low • Nov 16
New 90-day high: ₩3,720 The company is up 13% from its price of ₩3,290 on 18 August 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare industry, which is down 7.0% over the same period.