Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩18,240, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Personal Products industry in South Korea. Total returns to shareholders of 65% over the past three years. Reported Earnings • Mar 21
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ₩1,779 (up from ₩1,475 in FY 2024). Revenue: ₩132.2b (up 11% from FY 2024). Net income: ₩27.8b (up 21% from FY 2024). Profit margin: 21% (up from 19% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Personal Products industry in South Korea. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 04
NeoPharm CO., LTD., Annual General Meeting, Mar 24, 2026 NeoPharm CO., LTD., Annual General Meeting, Mar 24, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 309-8, techno 2-ro, yuseong-gu, daejeon South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩600 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 09 April 2026. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.8%). Declared Dividend • Nov 08
Dividend of ₩600 announced Dividend of ₩600 is the same as last year. Ex-date: 29th December 2025 Payment date: 9th April 2026 Dividend yield will be 3.6%, which is higher than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (38% 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 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
NeoPharm CO., LTD. announces Annual dividend, payable on April 09, 2026 NeoPharm CO., LTD. announced Annual dividend of KRW 600.0000 per share payable on April 09, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Sep 09
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 7.8% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩21,700, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Personal Products industry in South Korea. Total returns to shareholders of 156% over the past three years. Buy Or Sell Opportunity • Jul 25
Now 20% undervalued Over the last 90 days, the stock has risen 42% to ₩18,790. The fair value is estimated to be ₩23,545, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 12%. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩19,640, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 19x in the Personal Products industry in South Korea. Total returns to shareholders of 116% over the past three years. Reported Earnings • Mar 20
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₩1,475 (down from ₩1,484 in FY 2023). Revenue: ₩119.0b (up 23% from FY 2023). Net income: ₩23.1b (flat on FY 2023). Profit margin: 19% (down from 24% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 1.8%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Personal Products industry in South Korea. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Mar 05
NeoPharm CO., LTD., Annual General Meeting, Mar 26, 2025 NeoPharm CO., LTD., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 309-8, techno 2-ro, yuseong-gu, daejeon South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩750 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 09 April 2025. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.1%). 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. This is currently the only risk that has been identified for the company. New Risk • Oct 30
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩104.8b (US$76.0m) 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 High level of non-cash earnings (62% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₩104.8b market cap, or US$76.0m). Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩26,350, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Personal Products industry in South Korea. Total returns to shareholders of 5.6% over the past three years. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: ₩752 (vs ₩699 in 2Q 2023) Second quarter 2024 results: EPS: ₩752 (up from ₩699 in 2Q 2023). Revenue: ₩30.6b (up 25% from 2Q 2023). Net income: ₩5.88b (up 7.6% from 2Q 2023). Profit margin: 19% (down from 22% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Personal Products industry in South Korea. 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 10% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 22
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₩2,968 (up from ₩2,177 in FY 2022). Revenue: ₩97.1b (up 14% from FY 2022). Net income: ₩23.2b (up 36% from FY 2022). Profit margin: 24% (up from 20% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.2%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Personal Products industry in South Korea. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩700 per share at 2.9% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 08 April 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩23,750, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 30x in the Personal Products industry in South Korea. Total loss to shareholders of 22% over the past three years. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩20,150, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 33x in the Personal Products industry in South Korea. Total loss to shareholders of 33% over the past three years. Buying Opportunity • Apr 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be ₩22,737, 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 5.4%. Reported Earnings • Mar 16
Full year 2022 earnings released: EPS: ₩2,177 (vs ₩2,265 in FY 2021) Full year 2022 results: EPS: ₩2,177 (down from ₩2,265 in FY 2021). Revenue: ₩85.0b (down 3.3% from FY 2021). Net income: ₩17.0b (down 3.9% from FY 2021). Profit margin: 20% (in line with FY 2021). Over the last 3 years on average, earnings per share has fallen by 5% per year and the company’s share price has also fallen by 5% per year. Buying Opportunity • Dec 28
Now 20% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be ₩23,468, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has declined by 4.9%. Upcoming Dividend • Dec 21
Upcoming dividend of ₩700 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 10 April 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.3%). Reported Earnings • Mar 16
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: ₩2,265 (down from ₩2,318 in FY 2020). Revenue: ₩87.9b (up 7.7% from FY 2020). Net income: ₩17.7b (down 2.3% from FY 2020). Profit margin: 20% (down from 22% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 8.6%, compared to a 8.8% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Buying Opportunity • Feb 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 1.6%. The fair value is estimated to be ₩31,950, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% per annum over the last 3 years. Earnings per share has grown by 3.1% per annum over the last 3 years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩650 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 11 April 2022. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 2.7%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.8%). Price Target Changed • Aug 14
Price target increased to ₩46,333 Up from ₩42,500, the current price target is an average from 3 analysts. New target price is 50% above last closing price of ₩30,950. Stock is down 4.0% over the past year. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS ₩2,318 (vs ₩2,570 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: ₩81.6b (down 1.9% from FY 2019). Net income: ₩18.1b (down 5.8% from FY 2019). Profit margin: 22% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 17% share price gain to ₩34,000, the stock is trading at a trailing P/E ratio of 14.2x, up from the previous P/E ratio of 12.1x. This compares to an average P/E of 36x in the Personal Products industry in South Korea. Total return to shareholders over the past three years is a loss of 28%. Is New 90 Day High Low • Jan 08
New 90-day high: ₩29,500 The company is up 2.0% from its price of ₩28,800 on 08 October 2020. The South Korean market is up 25% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩49,095 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩750 Per Share Will be paid on the 10th of April to those who are registered shareholders by the 29th of December. The trailing yield of 2.7% is in the top quartile of South Korean dividend payers (2.6%), and it is higher than industry peers (0.6%). Major Estimate Revision • Nov 11
Analysts lower EPS estimates to ₩2,091 The 2020 consensus revenue estimate was lowered from ₩85.3m to ₩82.0m. Earning per share (EPS) estimate was also lowered from ₩2,326 to ₩2,091 for the same period. Net income is expected to shrink by 5.9% next year compared to 61% growth forecast for the Personal Products industry in South Korea . The consensus price target was lowered from ₩44,250 to ₩42,500. Share price is up 5.9% to ₩28,850 over the past week. Is New 90 Day High Low • Sep 24
New 90-day low: ₩27,250 The company is down 18% from its price of ₩33,150 on 26 June 2020. The South Korean market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products 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 ₩47,836 per share.