Buy Or Sell Opportunity • Jun 12
Now 22% overvalued Over the last 90 days, the stock has fallen 21% to ₩5,180. The fair value is estimated to be ₩4,260, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 8.4%. Reported Earnings • Feb 22
Second quarter 2026 earnings released: ₩60.00 loss per share (vs ₩100.00 profit in 2Q 2025) Second quarter 2026 results: ₩60.00 loss per share (down from ₩100.00 profit in 2Q 2025). Revenue: ₩4.22b (down 32% from 2Q 2025). Net loss: ₩472.0m (down 160% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Feb 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% 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. Profit margins are more than 30% lower than last year (7.2% net profit margin). Market cap is less than US$100m (₩49.2b market cap, or US$34.0m). New Risk • Nov 29
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: 12% Last year net profit margin: 17% 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: Minor Risks Profit margins are more than 30% lower than last year (12% net profit margin). Market cap is less than US$100m (₩48.1b market cap, or US$32.8m). Reported Earnings • Sep 18
Full year 2025 earnings released: EPS: ₩354 (vs ₩548 in FY 2024) Full year 2025 results: EPS: ₩354 (down from ₩548 in FY 2024). Revenue: ₩24.4b (down 13% from FY 2024). Net income: ₩2.81b (down 37% from FY 2024). Profit margin: 12% (down from 16% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Aug 15
HyosungONBCo.,Ltd, Annual General Meeting, Sep 29, 2025 HyosungONBCo.,Ltd, Annual General Meeting, Sep 29, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 46, yuseong-daero 1596beon-gil, yuseong-gu, daejeon South Korea Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩6,250, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 10x in the Chemicals industry in South Korea. Total loss to shareholders of 53% over the past three years. Reported Earnings • Feb 20
Second quarter 2025 earnings released: EPS: ₩100.00 (vs ₩273 in 2Q 2024) Second quarter 2025 results: EPS: ₩100.00 (down from ₩273 in 2Q 2024). Revenue: ₩6.21b (down 18% from 2Q 2024). Net income: ₩788.5m (down 65% from 2Q 2024). Profit margin: 13% (down from 30% in 2Q 2024). The decrease in margin was primarily driven by lower revenue. 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 14% per year, which means it is significantly lagging earnings. New Risk • Jan 28
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 Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Market cap is less than US$100m (₩54.6b market cap, or US$37.8m). New Risk • Dec 16
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 Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (₩59.0b market cap, or US$41.1m). Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to ₩7,480, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 10x in the Chemicals industry in South Korea. Total loss to shareholders of 5.3% over the past three years. Reported Earnings • Sep 20
Full year 2024 earnings released: EPS: ₩548 (vs ₩155 in FY 2023) Full year 2024 results: EPS: ₩548 (up from ₩155 in FY 2023). Revenue: ₩28.1b (down 5.4% from FY 2023). Net income: ₩4.49b (up 255% from FY 2023). Profit margin: 16% (up from 4.3% in FY 2023). The increase in margin was driven by lower expenses. 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 11% per year, which means it is significantly lagging earnings. Announcement • Aug 15
HyosungONBCo.,Ltd, Annual General Meeting, Sep 27, 2024 HyosungONBCo.,Ltd, Annual General Meeting, Sep 27, 2024, at 10:00 Tokyo Standard Time. Location: conference room, 46, yuseong-daero 1596beon-gil, yuseong-gu, daejeon South Korea Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩5,860, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total loss to shareholders of 52% over the past three years. Reported Earnings • Feb 19
Second quarter 2024 earnings released: EPS: ₩273 (vs ₩106 in 2Q 2023) Second quarter 2024 results: EPS: ₩273 (up from ₩106 in 2Q 2023). Revenue: ₩7.53b (up 29% from 2Q 2023). Net income: ₩2.24b (up 159% from 2Q 2023). Profit margin: 30% (up from 15% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩8,400, the stock trades at a trailing P/E ratio of 41x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 10% over the past three years. Reported Earnings • Nov 19
First quarter 2024 earnings released: ₩48.00 loss per share (vs ₩98.00 loss in 1Q 2023) First quarter 2024 results: ₩48.00 loss per share (improved from ₩98.00 loss in 1Q 2023). Revenue: ₩3.47b (up 17% from 1Q 2023). Net loss: ₩393.2m (loss narrowed 51% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 21
Full year 2023 earnings released: EPS: ₩155 (vs ₩464 in FY 2022) Full year 2023 results: EPS: ₩155 (down from ₩464 in FY 2022). Revenue: ₩29.7b (down 13% from FY 2022). Net income: ₩1.27b (down 67% from FY 2022). Profit margin: 4.3% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of ₩100.00 per share at 1.1% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 12 October 2023. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of South Korean dividend payers (3.2%). Lower than average of industry peers (1.5%). Reported Earnings • May 18
Third quarter 2023 earnings released: EPS: ₩66.00 (vs ₩105 in 3Q 2022) Third quarter 2023 results: EPS: ₩66.00 (down from ₩105 in 3Q 2022). Revenue: ₩9.05b (down 4.6% from 3Q 2022). Net income: ₩542.4m (down 37% from 3Q 2022). Profit margin: 6.0% (down from 9.1% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩9,540, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 59% over the past three years. Reported Earnings • Feb 19
Second quarter 2023 earnings released: EPS: ₩106 (vs ₩165 in 2Q 2022) Second quarter 2023 results: EPS: ₩106 (down from ₩165 in 2Q 2022). Revenue: ₩5.83b (down 11% from 2Q 2022). Net income: ₩864.6m (down 37% from 2Q 2022). Profit margin: 15% (down from 21% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 19
First quarter 2023 earnings released: ₩98.00 loss per share (vs ₩37.00 loss in 1Q 2022) First quarter 2023 results: ₩98.00 loss per share (further deteriorated from ₩37.00 loss in 1Q 2022). Revenue: ₩2.96b (down 26% from 1Q 2022). Net loss: ₩806.3m (loss widened 159% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. 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. 4 experienced directors. No highly experienced directors. 1 independent director (3 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. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₩8,190, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 10% over the past three years. Reported Earnings • Sep 23
Full year 2022 earnings released: EPS: ₩464 (vs ₩306 in FY 2021) Full year 2022 results: EPS: ₩464 (up from ₩306 in FY 2021). Revenue: ₩34.0b (up 13% from FY 2021). Net income: ₩3.86b (up 62% from FY 2021). Profit margin: 11% (up from 7.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 20% share price gain to ₩12,100, the stock trades at a trailing P/E ratio of 33.1x. Average trailing P/E is 14x in the Chemicals industry in South Korea. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩9,270, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improved over the past week After last week's 22% share price gain to ₩12,150, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 37% over the past three years. Reported Earnings • May 22
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: ₩105 (up from ₩98.00 in 3Q 2021). Revenue: ₩9.49b (up 16% from 3Q 2021). Net income: ₩863.1m (up 16% from 3Q 2021). Profit margin: 9.1% (in line with 3Q 2021). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩11,950, the stock trades at a trailing P/E ratio of 34x. Average trailing P/E is 15x in the Chemicals industry in South Korea. Total returns to shareholders of 42% 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. 4 experienced directors. No highly experienced directors. 1 independent director (3 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. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩14,050, the stock trades at a trailing P/E ratio of 40x. Average trailing P/E is 15x in the Chemicals industry in South Korea. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 21% share price gain to ₩13,600, the stock trades at a trailing P/E ratio of 38.7x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improved over the past week After last week's 20% share price gain to ₩10,350, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total returns to shareholders of 4.0% over the past three years. Reported Earnings • Feb 20
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: ₩165 (up from ₩82.00 in 2Q 2021). Revenue: ₩6.53b (up 15% from 2Q 2021). Net income: ₩1.37b (up 119% from 2Q 2021). Profit margin: 21% (up from 11% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 19%. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 11% per year. Reported Earnings • Nov 19
First quarter 2022 earnings released: ₩37.00 loss per share (vs ₩45.00 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: ₩3.98b (up 23% from 1Q 2021). Net loss: ₩311.8m (loss narrowed 8.5% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improved over the past week After last week's 15% share price gain to ₩10,200, the stock trades at a trailing P/E ratio of 32.7x. Average trailing P/E is 20x in the Chemicals industry in South Korea. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩10,000, the stock trades at a trailing P/E ratio of 49.2x. Average trailing P/E is 20x in the Chemicals industry in South Korea. Total loss to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improved over the past week After last week's 15% share price gain to ₩11,750, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 21x in the Chemicals industry in South Korea. Total returns to shareholders of 4.8% over the past three years. Upcoming Dividend • Jun 22
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 15 October 2021. Trailing yield: 0.9%. Lower than top quartile of South Korean dividend payers (2.1%). Lower than average of industry peers (1.4%). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩11,750, the stock trades at a trailing P/E ratio of 57.9x. Average trailing P/E is 21x in the Chemicals industry in South Korea. Total loss to shareholders of 17% over the past three years. Reported Earnings • May 22
Third quarter 2021 earnings released: EPS ₩98.00 (vs ₩148 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩8.20b (down 21% from 3Q 2020). Net income: ₩747.6m (down 35% from 3Q 2020). Profit margin: 9.1% (down from 11% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improved over the past week After last week's 45% share price gain to ₩13,300, the stock trades at a trailing P/E ratio of 53.6x. Average trailing P/E is 20x in the Chemicals industry in South Korea. Total loss to shareholders of 15% over the past three years. Reported Earnings • Feb 20
Second quarter 2021 earnings released: EPS ₩82.00 (vs ₩42.00 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₩5.70b (up 7.6% from 2Q 2020). Net income: ₩626.2m (up 90% from 2Q 2020). Profit margin: 11% (up from 6.2% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 14
New 90-day high: ₩8,430 The company is up 11% from its price of ₩7,620 on 16 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 36% over the same period. Reported Earnings • Nov 20
First quarter 2021 earnings released: ₩45.00 loss per share The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: ₩3.23b (down 5.6% from 1Q 2020). Net loss: ₩340.6m (loss narrowed 16% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 27
New 90-day low: ₩6,970 The company is down 2.0% from its price of ₩7,110 on 29 July 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 19% over the same period.