Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩113,300, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Personal Products industry in South Korea. Total returns to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩207,835 per share. Reported Earnings • May 21
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: ₩1,573 (down from ₩1,606 in 1Q 2025). Revenue: ₩1.14t (up 6.4% from 1Q 2025). Net income: ₩108.5b (down 2.0% from 1Q 2025). Profit margin: 9.6% (in line with 1Q 2025). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 2.7%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 18% 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 whereas the company’s share price has increased by 1% per year. Major Estimate Revision • Apr 30
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from ₩4.56b to ₩4.62b. EPS estimate increased from ₩5,761 to ₩6,344 per share. Net income forecast to grow 63% next year vs 61% growth forecast for Personal Products industry in South Korea. Consensus price target broadly unchanged at ₩171,000. Share price rose 2.6% to ₩135,700 over the past week. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩150,800, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 14x in the Personal Products industry in South Korea. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩230,059 per share. Announcement • Apr 24
Amorepacific Corporation to Report Q1, 2026 Results on Apr 29, 2026 Amorepacific Corporation announced that they will report Q1, 2026 results on Apr 29, 2026 Reported Earnings • Mar 21
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₩3,416 (down from ₩8,601 in FY 2024). Revenue: ₩4.25t (up 9.5% from FY 2024). Net income: ₩235.7b (down 60% from FY 2024). Profit margin: 5.5% (down from 15% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 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 18% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Mar 11
IOPE Launches Clinical-Grade Skincare Products In Canada IOPE, a clinical-grade skincare brand from Amorepacific and a leader in Korean anti-aging innovation, officially debuted in the Canadian market this week. Backed by 30 years of research and expertise in Korea, IOPE expands into North America through a strategic retail partnership with Sephora Canada, launching on Sephora.com NOW and arriving in stores nationwide on March 13, 2026. Established in 1996, IOPE has been at the forefront of Korean anti-aging research, grounded in rigorous clinical testing. The brand has pioneered advancements in key active ingredients, including PDRN, stabilized Vitamin C and innovative retinol stabilization technology that is supported by 56 patents in Korea and more than a dozen scientific publications. IOPE's professional treatment–inspired formulations are rooted in evidence-based research and designed to deliver visible improvements across key skin concerns, including texture, firmness, brightness and overall vitality, bridging the gap between in-clinic procedures and daily skincare rituals. IOPE enters the Canadian market with nine targeted products, featuring the brand's transformative XMD, Retinol RX™, Vitamin C and PDRN collections. Their newest innovations draw inspiration from Korea's viral skin booster treatments and are clinically proven to deliver professional treatment-level results at home: XMD Stem III Clinical Recovery Serum ($80): Inspired by Korea's viral PDRN skin booster treatments, this advanced serum was clinically tested to deliver professional PDRN treatment–level results across six key metrics, including increased volume, improved elasticity and enhanced texture, without the downtime or discomfort associated with in-office treatments. The breakthrough formula is powered by 92.3% PDRN H.A.™ Liposome Complex, featuring PDRN, micro-molecular hyaluronic acid and a soothing allantoin-based complex. Retinol RX™ 2% Reti-jection Serum ($77): Formulated with a 2% concentration of Retinol RX™ – IOPE's proprietary retinoid complex – this high-performance serum is designed to optimize efficacy while reducing irritation compared to traditional retinol. The formula features three million retinol-infused spicules to enhance absorption. In a four-week clinical study, the serum reduced the look of wrinkles, minimized pore appearance and enhanced radiance. IOPE will further expand its presence with additional high-performance innovations designed to redefine antiaging skincare standards in Canada, including the Retinol RX™ 1% Super Bounce Serum ($67), formulated with IOPE's proprietary retinoid complex for targeted delivery with reduced irritation compared to traditional retinol; the Vitamin C 40% Concentrate Cream ($80), featuring a high-potency antioxidant formula; and the PDRN Caffeine Shot Serum ($58), which provides clinically proven benefits in smoothing, depuffing and rejuvenating. IOPE product range in price from $9 for a single sheet mask to $93 for XMD Stem III Clinical Recovery Cream. IOPE is available now at Sephora.com and will be available in Sephora stores nationwide starting March 13, 2026. New Risk • Mar 04
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 115% Dividend yield: 1.0% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 earnings (115% payout ratio). Profit margins are more than 30% lower than last year (1.6% net profit margin). Buy Or Sell Opportunity • Feb 09
Now 39% overvalued after recent price rise Over the last 90 days, the stock has risen 33% to ₩164,800. The fair value is estimated to be ₩118,658, 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 grown by 31%. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings are also forecast to grow by 38% per annum over the same time period. Declared Dividend • Feb 08
Dividend increased to ₩1,240 Dividend of ₩1,240 is 10% higher than last year. Ex-date: 30th March 2026 Payment date: 1st January 1970 Dividend yield will be 0.9%, which is lower than the industry average of 1.2%. Sustainability & Growth Dividend is not covered by earnings (115% earnings payout ratio). However, it is well covered by cash flows (17% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 28% to bring the payout ratio under control. EPS is expected to grow by 173% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Buy Or Sell Opportunity • Jan 23
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to ₩133,300. The fair value is estimated to be ₩106,869, 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 grown by 31%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 494% in the next 2 years. New Risk • Aug 24
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: 0.9% Last year net profit margin: 19% 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. This is currently the only risk that has been identified for the company. Major Estimate Revision • Aug 03
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩4.33b to ₩4.28b. EPS estimate also fell from ₩5,440 per share to ₩4,875 per share. Net income forecast to shrink 37% next year vs 32% growth forecast for Personal Products industry in South Korea . Consensus price target broadly unchanged at ₩160,423. Share price was steady at ₩131,500 over the past week. Buy Or Sell Opportunity • Jun 30
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to ₩136,200. The fair value is estimated to be ₩110,971, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Earnings per share has grown by 67%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to decline by 23% in the next 2 years. New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.6% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • May 21
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 1.5% to ₩125,900. The fair value is estimated to be ₩103,588, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.6% over the last 3 years. Earnings per share has grown by 61%. For the next 3 years, revenue is forecast to grow by 8.6% per annum. Earnings are forecast to decline by 4.4% per annum over the same time period. Announcement • Apr 24
Amorepacific Corporation to Report Q1, 2025 Final Results on Apr 30, 2025 Amorepacific Corporation announced that they will report Q1, 2025 final results on Apr 30, 2025 Buy Or Sell Opportunity • Mar 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.9% to ₩103,100. The fair value is estimated to be ₩128,914, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.6% over the last 3 years. Earnings per share has grown by 64%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings are forecast to decline by 14% per annum over the same time period. Upcoming Dividend • Mar 20
Upcoming dividend of ₩1,125 per share Eligible shareholders must have bought the stock before 27 March 2025. Payment date: 14 April 2025. Payout ratio is a comfortable 9.5% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (1.1%). Announcement • Feb 07
Amorepacific Corporation, Annual General Meeting, Mar 25, 2025 Amorepacific Corporation, Annual General Meeting, Mar 25, 2025, at 09:00 Tokyo Standard Time. Location: amore hall, 100, hangang-daero, yongsan-gu, seoul South Korea New Risk • Dec 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 25% 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 25% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Major Estimate Revision • Nov 06
Consensus EPS estimates increase by 23%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₩3.94b to ₩3.87b. EPS estimate rose from ₩8,969 to ₩11,013. Net income forecast to shrink 18% next year vs 34% growth forecast for Personal Products industry in South Korea . Consensus price target down from ₩177,885 to ₩170,750. Share price rose 2.1% to ₩122,700 over the past week. Major Estimate Revision • Nov 01
Consensus EPS estimates increase by 19%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₩3.94b to ₩3.86b. EPS estimate rose from ₩8,969 to ₩10,699. Net income forecast to shrink 26% next year vs 34% growth forecast for Personal Products industry in South Korea . Consensus price target broadly unchanged at ₩176,360. Share price was steady at ₩119,600 over the past week. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩124,600, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Personal Products 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 ₩171,377 per share. Buy Or Sell Opportunity • Oct 05
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to ₩131,600. The fair value is estimated to be ₩171,481, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 33% in 2 years. Earnings are forecast to decline by 31% in the next 2 years. Buy Or Sell Opportunity • Sep 13
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to ₩140,000. The fair value is estimated to be ₩184,807, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to decline by 29% in the next 2 years. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩149,900, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 13x in the Personal Products industry in South Korea. Total loss to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩185,111 per share. New Risk • Aug 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 12% 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 12% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. New Risk • Aug 07
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: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Major Estimate Revision • Aug 07
Consensus EPS estimates increase by 51%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ₩4.21b to ₩4.02b. EPS estimate rose from ₩5,011 to ₩7,553. Net income forecast to grow 224% next year vs 107% growth forecast for Personal Products industry in South Korea. Consensus price target down from ₩205,625 to ₩199,875. Share price fell 31% to ₩124,500 over the past week. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 32% After last week's 32% share price decline to ₩124,200, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 14x in the Personal Products industry in South Korea. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩216,804 per share. Buy Or Sell Opportunity • Aug 05
Now 29% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.1% to ₩156,900. The fair value is estimated to be ₩220,831, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.7% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 221% in the next 2 years. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩148,700, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 16x in the Personal Products industry in South Korea. Total loss to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩187,794 per share. Buy Or Sell Opportunity • Jul 05
Now 21% undervalued Over the last 90 days, the stock has risen 11% to ₩148,700. The fair value is estimated to be ₩187,794, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.7% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 221% in the next 2 years. Major Estimate Revision • May 04
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₩4,693 to ₩5,189. Revenue forecast steady at ₩4.31b. Net income forecast to grow 86% next year vs 87% growth forecast for Personal Products industry in South Korea. Consensus price target up from ₩163,000 to ₩192,708. Share price rose 12% to ₩168,700 over the past week. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩173,400, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 14x in the Personal Products industry in South Korea. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩160,471 per share. Price Target Changed • May 01
Price target increased by 13% to ₩183,958 Up from ₩163,000, the current price target is an average from 24 analysts. New target price is 8.5% above last closing price of ₩169,500. Stock is up 47% over the past year. The company is forecast to post earnings per share of ₩5,071 for next year compared to ₩2,610 last year. Buy Or Sell Opportunity • Apr 16
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to ₩137,500. The fair value is estimated to be ₩113,131, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.9% over the last 3 years. Earnings per share has grown by 8.6%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: ₩2,609 (vs ₩1,949 in FY 2022) Full year 2023 results: EPS: ₩2,609 (up from ₩1,949 in FY 2022). Revenue: ₩3.67t (down 11% from FY 2022). Net income: ₩180.1b (up 34% from FY 2022). Profit margin: 4.9% (up from 3.3% in FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 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 9% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Feb 16
Amorepacific Corporation, Annual General Meeting, Mar 15, 2024 Amorepacific Corporation, Annual General Meeting, Mar 15, 2024. Announcement • Feb 06
Amorepacific Unveils Research Demonstrating the Impact of Lymphatic Activating Ingredients Amorepacific, in collaboration with the School of Mechanical Engineering at Korea University, has unveiled groundbreaking research demonstrating the impact of lymphatic activation on skin health and the potential skin lymphatic improvement through fermented ginseng ingredients. This research, introducing new possibilities for skin aging and homeostasis maintenance using Lab-on-a-chip technology, was published in 'NPG Asia Materials,' an international journal by the scientific journal Nature. The lymphatic system, a crucial organ for maintaining homeostasis and activating the immune system through circulation and waste removal, plays a significant role in skin health. Disruption in lymphatic circulation within the skin can lead to problems and accelerated aging. However, directly observing changes in living tissue's most profound lymphatic systems has been challenging. The R&I Center at Amorepacific and Professor Chung Seok's laboratory at the School of Mechanical Engineering, Korea University, have been conducting extensive research to elucidate the interdependent relationship between lymph circulation and skin. The joint research team utilized human skin structure replication technology and Lab-on-a- chip systems, a type of organoid technology enabling the observation of networks between various cells. In this research, they cultivated human-derived skin cells and 3D lymphatic forming cells under optimal conditions to create a Skin-Lymph-on-a-chip. This enabled the replication of networks between human skin and lymphatic vessels, visually observing the impact of substances applied to the skin on lymphatic formation and activity. This system, which mimics the network between human skin and lymphatics, can observe the impact of substances applied to The skin on lymphatic formation and check molecular biological changes. Amorepacific's Lymphanaxtm, made from ginseng naturally fermented for 500 hours and rich in the lymph-activating component Gypenoside XVII, has been proven to strengthen the skin barrier and aid internal skin circulation, as observed in the Skin-Lymph- on-a-chip system. The joint research team concluded that Lymphanaxtm aids in forming healthy lymphatic vessels within the skin and strengthens the skin barrier through additional analysis, including AI algorithms. Meanwhile, Lymphanaxtm, whose efficacy was confirmed in this study, is currently being used as a critical ingredient in the Sulwhasoo brand. Buy Or Sell Opportunity • Jan 23
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ₩139,200. The fair value is estimated to be ₩114,522, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.3% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 41% per annum over the same time period. Upcoming Dividend • Dec 20
Upcoming dividend of ₩680 per share at 0.5% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (1.2%). New Risk • Nov 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₩143,300, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 17x in the Personal Products industry in South Korea. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩96,505 per share. Major Estimate Revision • Nov 04
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₩3.95b to ₩3.79b. EPS estimate also fell from ₩2,981 per share to ₩2,672 per share. Net income forecast to grow 74% next year vs 69% growth forecast for Personal Products industry in South Korea. Consensus price target up from ₩139,804 to ₩151,000. Share price rose 14% to ₩133,300 over the past week. Price Target Changed • Nov 04
Price target increased by 8.0% to ₩151,000 Up from ₩139,804, the current price target is an average from 22 analysts. New target price is 13% above last closing price of ₩133,300. Stock is up 22% over the past year. The company is forecast to post earnings per share of ₩2,672 for next year compared to ₩1,651 last year. Announcement • Nov 01
Amorepacific Corporation (KOSE:A090430) agreed to acquire additional 54.8% stake in Cosrxinc Co., Ltd. for approximately KRW 760 billion. Amorepacific Corporation (KOSE:A090430) agreed to acquire additional 54.8% stake in Cosrxinc Co., Ltd. for approximately KRW 760 billion on October 30, 2023. With this, Amorepacific is expected to own 93.2% of Cosrxinc shares. New Risk • Sep 26
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. This is currently the only risk that has been identified for the company. Major Estimate Revision • Jul 30
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₩4.12b to ₩4.03b. EPS estimate also fell from ₩3,481 per share to ₩3,122 per share. Net income forecast to grow 161% next year vs 104% growth forecast for Personal Products industry in South Korea. Consensus price target down from ₩133,873 to ₩128,578. Share price rose 7.4% to ₩110,800 over the past week. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩120,600, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 20x in the Personal Products industry in South Korea. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩81,440 per share. Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: ₩1,949 (vs ₩2,820 in FY 2021) Full year 2022 results: EPS: ₩1,949 (down from ₩2,820 in FY 2021). Revenue: ₩4.13t (down 15% from FY 2021). Net income: ₩134.5b (down 31% from FY 2021). Profit margin: 3.3% (down from 4.0% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Personal Products industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 18% 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. Price Target Changed • Jan 13
Price target increased to ₩145,524 Up from ₩135,550, the current price target is an average from 21 analysts. New target price is approximately in line with last closing price of ₩139,500. Stock is down 8.2% over the past year. The company is forecast to post earnings per share of ₩2,012 for next year compared to ₩2,387 last year. Upcoming Dividend • Dec 21
Upcoming dividend of ₩980 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (1.3%). Board Change • Nov 16
No independent directors 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. No independent directors (7 non-independent directors). Chairman and Chief Executive Officer Kyung-Bae Suh was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Major Estimate Revision • Nov 05
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ₩4.36b to ₩4.16b. EPS estimate also fell from ₩2,251 per share to ₩2,008 per share. Net income forecast to grow 264% next year vs 41% growth forecast for Personal Products industry in South Korea. Consensus price target down from ₩146,833 to ₩133,000. Share price rose 20% to ₩109,500 over the past week. Buying Opportunity • Nov 04
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be ₩127,348, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Earnings per share has declined by 30%. For the next 3 years, revenue is forecast to grow by 9.8% per annum. Earnings is also forecast to grow by 40% per annum over the same time period. Price Target Changed • Nov 02
Price target decreased to ₩132,833 Down from ₩146,833, the current price target is an average from 18 analysts. New target price is 37% above last closing price of ₩96,700. Stock is down 49% over the past year. The company is forecast to post earnings per share of ₩2,067 for next year compared to ₩2,387 last year. Price Target Changed • Sep 02
Price target decreased to ₩171,950 Down from ₩189,429, the current price target is an average from 20 analysts. New target price is 44% above last closing price of ₩119,500. Stock is down 47% over the past year. The company is forecast to post earnings per share of ₩2,661 for next year compared to ₩2,387 last year. Price Target Changed • Jul 31
Price target decreased to ₩180,150 Down from ₩196,524, the current price target is an average from 20 analysts. New target price is 40% above last closing price of ₩129,000. Stock is down 42% over the past year. The company is forecast to post earnings per share of ₩2,461 for next year compared to ₩2,387 last year. Board Change • Apr 27
No independent directors 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. No independent directors (7 non-independent directors). Chairman and Chief Executive Officer Kyung-Bae Suh was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.