Buy Or Sell Opportunity • May 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.5% to ₩16,380. The fair value is estimated to be ₩20,761, however this is not to be taken as a buy 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 5.2%. Announcement • Mar 10
DIO Corporation, Annual General Meeting, Mar 24, 2026 DIO Corporation, Annual General Meeting, Mar 24, 2026, at 11:00 Tokyo Standard Time. Location: auditorium, 66, centum seo-ro, haeundae-gu, busan South Korea Announcement • Feb 23
DIO Corporation (KOSDAQ:A039840) announces an Equity Buyback for KRW 10,000 million worth of its shares. DIO Corporation (KOSDAQ:A039840) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a trust contract with NH Investment & Securities. The purpose of the program is to stabilize the stock price and enhance the value of shareholders. The program will expire on September 3, 2026. As of February 22, 2026, the company had 970,797 shares in treasury within scope available for dividend and had no shares in treasury under other acquisitions. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩18,400, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Medical Equipment industry in South Korea. Total loss to shareholders of 19% over the past three years. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: ₩439 (vs ₩493 loss in 3Q 2024) Third quarter 2025 results: EPS: ₩439 (up from ₩493 loss in 3Q 2024). Revenue: ₩41.4b (up 32% from 3Q 2024). Net income: ₩5.92b (up ₩13.1b from 3Q 2024). Profit margin: 14% (up from net loss in 3Q 2024). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Medical Equipment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 15
Second quarter 2025 earnings released: ₩643 loss per share (vs ₩3,259 loss in 2Q 2024) Second quarter 2025 results: ₩643 loss per share (improved from ₩3,259 loss in 2Q 2024). Revenue: ₩40.1b (up 158% from 2Q 2024). Net loss: ₩8.92b (loss narrowed 81% from 2Q 2024). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Medical Equipment 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 60 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • May 20
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to ₩19,700. The fair value is estimated to be ₩16,349, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.4% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • May 19
Price target increased by 13% to ₩23,333 Up from ₩20,600, the current price target is an average from 3 analysts. New target price is 23% above last closing price of ₩18,990. Stock is down 3.9% over the past year. The company is forecast to post earnings per share of ₩795 next year compared to a net loss per share of ₩2,865 last year. Reported Earnings • Mar 11
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: ₩2,865 loss per share (down from ₩227 profit in FY 2023). Revenue: ₩119.6b (down 23% from FY 2023). Net loss: ₩41.3b (down ₩44.6b from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Medical Equipment 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 85 percentage points per year, which is a significant difference in performance. Announcement • Mar 08
DIO Corporation, Annual General Meeting, Mar 24, 2025 DIO Corporation, Annual General Meeting, Mar 24, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 66, centum seo-ro, haeundae-gu, busan South Korea Major Estimate Revision • Nov 21
Consensus EPS estimates fall by 10%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from ₩112.9m to ₩118.3m. Forecast EPS reduced from -₩2,753 to -₩3,037 per share. Medical Equipment industry in South Korea expected to see average net income growth of 33% next year. Consensus price target up from ₩20,600 to ₩21,667. Share price rose 7.9% to ₩17,100 over the past week. New Risk • Sep 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.1% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 13
Second quarter 2024 earnings released: ₩3,259 loss per share (vs ₩197 profit in 2Q 2023) Second quarter 2024 results: ₩3,259 loss per share (down from ₩197 profit in 2Q 2023). Revenue: ₩15.5b (down 65% from 2Q 2023). Net loss: ₩47.3b (down ₩50.2b from profit in 2Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Medical Equipment 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 74 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Aug 13
Consensus revenue estimates fall by 20% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩157.1m to ₩125.5m. Forecast loss of -₩899, down from profit of ₩1,438 per share profit previously. Medical Equipment industry in South Korea expected to see average net income growth of 43% next year. Consensus price target down from ₩29,500 to ₩23,600. Share price fell 15% to ₩15,670 over the past week. Announcement • Aug 08
DIO Corporation (KOSDAQ:A039840) announces an Equity Buyback for KRW 10,000 million worth of its shares. DIO Corporation (KOSDAQ:A039840) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a trust contract with Mirae Asset Securities. The purpose of the program is to stabilize the stock price and enhance the value of shareholders. The program will expire on March 12, 2025. As of August 6, 2024, the company had 1,357,263 shares in treasury within scope available for dividend and had no shares in treasury under other acquisitions. Major Estimate Revision • May 25
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩189.1m to ₩157.1m. EPS estimate fell from ₩1,583 to ₩1,548 per share. Net income forecast to grow 498% next year vs 60% growth forecast for Medical Equipment industry in South Korea. Consensus price target down from ₩36,750 to ₩33,750. Share price was steady at ₩20,250 over the past week. Price Target Changed • May 21
Price target decreased by 8.2% to ₩33,750 Down from ₩36,750, the current price target is an average from 4 analysts. New target price is 71% above last closing price of ₩19,770. Stock is down 32% over the past year. The company is forecast to post earnings per share of ₩1,548 for next year compared to ₩227 last year. Major Estimate Revision • May 18
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₩1,583 to ₩1,815. Revenue forecast unchanged at ₩160.2m. Net income forecast to grow 589% next year vs 65% growth forecast for Medical Equipment industry in South Korea. Consensus price target down from ₩36,750 to ₩35,500. Share price fell 6.5% to ₩20,050 over the past week. Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: ₩227 (vs ₩1,380 loss in FY 2022) Full year 2023 results: EPS: ₩227 (up from ₩1,380 loss in FY 2022). Revenue: ₩155.8b (up 19% from FY 2022). Net income: ₩3.31b (up ₩23.8b from FY 2022). Profit margin: 2.1% (up from net loss in FY 2022). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Medical Equipment 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 55 percentage points per year, which is a significant difference in performance. New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings have declined by 28% 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 Interest payments are not well covered by earnings (2.2x net interest cover). Earnings have declined by 28% per year over the past 5 years. Announcement • Feb 08
DIO Corporation announced that it expects to receive KRW 85 billion in funding from H Private Equity Co., Ltd. DIO Corporation announces private placement of convertible bonds for gross proceeds of KRW 85,000,000,000 on February 6, 2024. The transaction will include participation from H Private Equity Co., Ltd. Price Target Changed • Nov 17
Price target decreased by 10% to ₩38,200 Down from ₩42,600, the current price target is an average from 5 analysts. New target price is 85% above last closing price of ₩20,700. Stock is down 0.2% over the past year. The company is forecast to post earnings per share of ₩1,485 next year compared to a net loss per share of ₩1,380 last year. Buying Opportunity • Oct 10
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be ₩32,315, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Sep 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be ₩32,132, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 12
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: ₩1,380 loss per share (down from ₩1,932 profit in FY 2021). Revenue: ₩131.3b (down 13% from FY 2021). Net loss: ₩20.5b (down 172% from profit in FY 2021). Revenue missed analyst estimates by 12%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Medical Equipment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 15% share price gain to ₩22,850, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Medical Equipment industry in South Korea. Total loss to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩33,564 per share. 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. No highly experienced directors. 1 independent director (5 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. Announcement • Sep 17
DIO Corporation (KOSDAQ:A039840) announces an Equity Buyback for KRW 3,000 million worth of its shares. DIO Corporation (KOSDAQ:A039840) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares, pursuant to a trust contract with Hana Securities. The purpose of the program is to stabilize the stock price and enhance the value of shareholders. The program will expire on March 15, 2023. As of September 15, 2022, the company had 967,186 shares in treasury within scope available for dividend and had no shares in treasury under other acquisitions. Major Estimate Revision • Aug 19
Consensus revenue estimates fall by 12% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from ₩180.3m to ₩159.1m. EPS estimate fell from ₩2,283 to ₩1,958 per share. Net income forecast to grow 82% next year vs 31% growth forecast for Medical Equipment industry in South Korea. Consensus price target down from ₩47,333 to ₩41,750. Share price fell 7.2% to ₩25,250 over the past week. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩28,150, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Medical Equipment industry in South Korea. Total loss to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩11,692 per share. Price Target Changed • Apr 27
Price target decreased to ₩53,500 Down from ₩60,400, the current price target is an average from 6 analysts. New target price is 49% above last closing price of ₩35,850. Stock is down 12% over the past year. The company is forecast to post earnings per share of ₩2,388 for next year compared to ₩1,932 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. 6 experienced directors. No highly experienced directors. 1 independent director (5 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 • Mar 03
Price target decreased to ₩54,200 Down from ₩60,400, the current price target is an average from 4 analysts. New target price is 57% above last closing price of ₩34,550. Stock is down 7.7% over the past year. The company is forecast to post earnings per share of ₩2,155 for next year compared to ₩759 last year. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩32,800, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Medical Equipment industry in South Korea. Total returns to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩49,393 per share. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 18% share price gain to ₩37,250, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Medical Equipment industry in South Korea. Total returns to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩50,645 per share. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ₩602 (vs ₩232 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩39.0b (up 36% from 3Q 2020). Net income: ₩8.88b (up 161% from 3Q 2020). Profit margin: 23% (up from 12% 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 32% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ₩602 (vs ₩232 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩39.0b (up 36% from 3Q 2020). Net income: ₩8.88b (up 161% from 3Q 2020). Profit margin: 23% (up from 12% 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 32% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 21
Price target increased to ₩58,200 Up from ₩53,500, the current price target is an average from 5 analysts. New target price is 14% above last closing price of ₩51,100. Stock is up 93% over the past year. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 17% share price gain to ₩47,500, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Medical Equipment industry in South Korea. Total returns to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩28,214 per share. Reported Earnings • May 12
First quarter 2021 earnings released: EPS ₩704 (vs ₩349 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₩34.0b (up 13% from 1Q 2020). Net income: ₩10.2b (up 98% from 1Q 2020). Profit margin: 30% (up from 17% in 1Q 2020). The increase in margin was primarily driven by higher revenue. 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 2% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 16
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from ₩156.8m to ₩154.6m. EPS estimate rose from ₩2,055 to ₩2,376. Net income forecast to grow 232% next year vs 22% growth forecast for Medical Equipment industry in South Korea. Consensus price target up from ₩47,750 to ₩52,000. Share price rose 3.7% to ₩41,700 over the past week. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS ₩758 (vs ₩1,483 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩120.1b (down 5.6% from FY 2019). Net income: ₩11.2b (down 49% from FY 2019). Profit margin: 9.3% (down from 17% in FY 2019). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 10
New 90-day high: ₩40,650 The company is up 26% from its price of ₩32,200 on 12 November 2020. The South Korean market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩99,055 per share. Price Target Changed • Feb 02
Price target raised to ₩43,500 Up from ₩39,750, the current price target is an average from 4 analysts. The new target price is 12% above the current share price of ₩38,900. As of last close, the stock is up 0.3% over the past year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 18% share price gain to ₩38,200, the stock is trading at a trailing P/E ratio of 56x, up from the previous P/E ratio of 47.6x. This compares to an average P/E of 19x in the Medical Equipment industry in South Korea. Total return to shareholders over the past three years is a loss of 6.0%. Is New 90 Day High Low • Jan 25
New 90-day high: ₩35,250 The company is up 19% from its price of ₩29,600 on 27 October 2020. The South Korean market is up 33% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Medical Equipment industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩94,185 per share. Is New 90 Day High Low • Jan 08
New 90-day high: ₩33,850 The company is up 5.0% from its price of ₩32,300 on 08 October 2020. The South Korean market is up 25% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Medical Equipment industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩93,821 per share. Major Estimate Revision • Nov 13
Analysts lower EPS estimates to ₩1,346 The 2020 consensus revenue estimate was lowered from ₩131.9m to ₩129.6m. Earning per share (EPS) estimate was also lowered from ₩1,566 to ₩1,346 for the same period. Net income is expected to grow by 171% next year compared to 52% growth forecast for the Medical Equipment industry in South Korea. The consensus price target of ₩34,667 was unchanged from the last update. Share price is up 6.4% to ₩31,700 over the past week. Is New 90 Day High Low • Nov 11
New 90-day high: ₩32,950 The company is up 14% from its price of ₩28,800 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 Medical Equipment industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩66,687 per share. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS ₩232 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩28.8b (down 8.5% from 3Q 2019). Net income: ₩3.40b (down 55% from 3Q 2019). Profit margin: 12% (down from 24% in 3Q 2019). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 06
New 90-day high: ₩31,550 The company is up 22% from its price of ₩25,900 on 08 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Medical Equipment industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩52,376 per share. Is New 90 Day High Low • Sep 18
New 90-day high: ₩29,800 The company is up 11% from its price of ₩26,950 on 19 June 2020. The South Korean market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 29% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩51,168 per share.