New Risk • Jun 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩151.6b (US$97.2m) 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (₩151.6b market cap, or US$97.2m). Reported Earnings • Mar 21
Full year 2025 earnings released: EPS: ₩308 (vs ₩654 in FY 2024) Full year 2025 results: EPS: ₩308 (down from ₩654 in FY 2024). Revenue: ₩617.1b (down 1.8% from FY 2024). Net income: ₩7.68b (down 50% from FY 2024). Profit margin: 1.2% (down from 2.5% in FY 2024). 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 18% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩7,150, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 41% over the past three years. Upcoming Dividend • Feb 19
Upcoming dividend of ₩350 per share Eligible shareholders must have bought the stock before 26 February 2026. Payment date: 14 April 2026. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.6%. Within top quartile of South Korean dividend payers (3.4%). Higher than average of industry peers (1.2%). New Risk • Feb 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to ₩9,500, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 13x in the Chemicals industry in South Korea. Total returns to shareholders of 77% over the past three years. Declared Dividend • Feb 04
Dividend of ₩350 announced Dividend of ₩350 is the same as last year. Ex-date: 26th February 2026 Payment date: 14th April 2026 Dividend yield will be 4.8%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (106% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 19% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control, which is more than the 5.2% EPS growth achieved over the last 5 years. Announcement • Jan 28
Samhwa Paints Industrial Co., Ltd. to Report Fiscal Year 2025 Results on Feb 02, 2026 Samhwa Paints Industrial Co., Ltd. announced that they will report fiscal year 2025 results on Feb 02, 2026 New Risk • Dec 18
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 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 106% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₩7,930, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 52% over the past three years. Announcement • Dec 09
Samhwa Paints Industrial Co., Ltd. announced that it has received KRW 6.916300303 billion in funding from Synergy IB Investment Co., Ltd., Synergy-Premier Mezzanine Blind No. 1 New Technology Business Investment Fund, BNK Securities Co.,Ltd. and other investors On December 8, 2025, Samhwa Paints Industrial Co., Ltd. closed the transaction. Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: ₩20.00 (vs ₩57.00 in 3Q 2024) Third quarter 2025 results: EPS: ₩20.00 (down from ₩57.00 in 3Q 2024). Revenue: ₩155.5b (up 3.3% from 3Q 2024). Net income: ₩489.8m (down 64% from 3Q 2024). Profit margin: 0.3% (down from 0.9% in 3Q 2024). 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 3% per year, which means it is significantly lagging earnings. New Risk • Aug 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Cash payout ratio: 266% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Reported Earnings • May 21
First quarter 2025 earnings released: ₩52.00 loss per share (vs ₩139 profit in 1Q 2024) First quarter 2025 results: ₩52.00 loss per share (down from ₩139 profit in 1Q 2024). Revenue: ₩133.3b (down 5.1% from 1Q 2024). Net loss: ₩1.29b (down 140% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: ₩654 (vs ₩685 in FY 2023) Full year 2024 results: EPS: ₩654 (down from ₩685 in FY 2023). Revenue: ₩628.3b (flat on FY 2023). Net income: ₩15.5b (down 4.3% from FY 2023). Profit margin: 2.5% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 20
Upcoming dividend of ₩350 per share Eligible shareholders must have bought the stock before 27 February 2025. Payment date: 15 April 2025. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (2.1%). Announcement • Feb 04
Samhwa Paints Industrial Co., Ltd., Annual General Meeting, Mar 20, 2025 Samhwa Paints Industrial Co., Ltd., Annual General Meeting, Mar 20, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 178, byeolmang-ro, danwon-gu, gyeonggi-do, ansan South Korea New Risk • Dec 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩135.6b (US$94.7m) 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩135.6b market cap, or US$94.7m). Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩6,250, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 10x in the Chemicals industry in South Korea. Total loss to shareholders of 28% over the past three years. New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to ₩9,770, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total loss to shareholders of 12% over the past three years. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: ₩685 (vs ₩237 in FY 2022) Full year 2023 results: EPS: ₩685 (up from ₩237 in FY 2022). Revenue: ₩631.4b (down 2.3% from FY 2022). Net income: ₩16.2b (up 189% from FY 2022). Profit margin: 2.6% (up from 0.9% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Mar 19
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 9.8% 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. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.8% average weekly change). Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩8,580, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 16x in the Chemicals industry in South Korea. Total loss to shareholders of 22% over the past three years. Buy Or Sell Opportunity • Mar 19
Now 54% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to ₩8,580. The fair value is estimated to be ₩5,581, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 15%. Buy Or Sell Opportunity • Feb 15
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 7.9% to ₩6,960. The fair value is estimated to be ₩5,589, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 15%. Upcoming Dividend • Dec 20
Upcoming dividend of ₩250 per share at 3.7% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 18 April 2024. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 3.7%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.8%). Reported Earnings • May 19
First quarter 2023 earnings released: EPS: ₩18.00 (vs ₩45.00 in 1Q 2022) First quarter 2023 results: EPS: ₩18.00 (down from ₩45.00 in 1Q 2022). Revenue: ₩139.7b (down 6.6% from 1Q 2022). Net income: ₩431.8m (down 60% from 1Q 2022). Profit margin: 0.3% (down from 0.7% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 19 April 2023. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.4%). Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: ₩177 (vs ₩29.00 loss in 3Q 2021) Third quarter 2022 results: EPS: ₩177 (up from ₩29.00 loss in 3Q 2021). Revenue: ₩158.5b (up 7.0% from 3Q 2021). Net income: ₩4.18b (up ₩4.87b from 3Q 2021). Profit margin: 2.6% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. 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. 7 experienced directors. 3 highly experienced directors. 2 independent directors (8 non-independent directors). Independent Outside Director Woo Bae was the last independent director to join the board, commencing their role in 2006. 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 16% share price decline to ₩5,880, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 12x in the Chemicals industry in South Korea. Total returns to shareholders of 13% over the past three years. Reported Earnings • May 22
First quarter 2022 earnings released: EPS: ₩45.00 (vs ₩12.00 in 1Q 2021) First quarter 2022 results: EPS: ₩45.00 (up from ₩12.00 in 1Q 2021). Revenue: ₩149.6b (up 15% from 1Q 2021). Net income: ₩1.07b (up 279% from 1Q 2021). Profit margin: 0.7% (up from 0.2% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. 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. 7 experienced directors. 3 highly experienced directors. 2 independent directors (8 non-independent directors). Independent Outside Director Woo Bae was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 16
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: ₩104 loss per share (down from ₩294 profit in FY 2020). Revenue: ₩631.6b (up 14% from FY 2020). Net loss: ₩2.45b (down 137% from profit in FY 2020). Revenue missed analyst estimates by 4.1%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 20 April 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.5%). Reported Earnings • Nov 19
Third quarter 2021 earnings released: ₩29.00 loss per share (vs ₩133 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ₩148.1b (up 7.7% from 3Q 2020). Net loss: ₩694.3m (down 124% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improved over the past week After last week's 20% share price gain to ₩14,700, the stock trades at a trailing P/E ratio of 50x. Average trailing P/E is 20x in the Chemicals industry in South Korea. Total returns to shareholders of 119% over the past three years. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 19% share price gain to ₩12,150, the stock trades at a trailing P/E ratio of 41.4x. Average trailing P/E is 18x in the Chemicals industry in South Korea. Total returns to shareholders of 78% over the past three years. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS ₩294 (vs ₩167 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩551.7b (up 2.1% from FY 2019). Net income: ₩6.55b (up 74% from FY 2019). Profit margin: 1.2% (up from 0.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩10,700, the stock is trading at a trailing P/E ratio of 42x, down from the previous P/E ratio of 51.2x. This compares to an average P/E of 17x in the Chemicals industry in South Korea. Total returns to shareholders over the past three years are 51%. Announcement • Feb 02
Samhwa Paints Industrial Co., Ltd., Annual General Meeting, Mar 26, 2021 Samhwa Paints Industrial Co., Ltd., Annual General Meeting, Mar 26, 2021, at 10:00 Korea Standard Time. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₩12,650, the stock is trading at a trailing P/E ratio of 49.7x, down from the previous P/E ratio of 61.2x. This compares to an average P/E of 16x in the Chemicals industry in South Korea. Total returns to shareholders over the past three years are 84%. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 15% share price gain to ₩16,250, the stock is trading at a trailing P/E ratio of 63.8x, up from the previous P/E ratio of 55.4x. This compares to an average P/E of 16x in the Chemicals industry in South Korea. Total returns to shareholders over the past three years are 133%. Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₩13,550, the stock is trading at a trailing P/E ratio of 53.2x, down from the previous P/E ratio of 66.9x. This compares to an average P/E of 15x in the Chemicals industry in South Korea. Total returns to shareholders over the past three years are 92%. Is New 90 Day High Low • Dec 16
New 90-day high: ₩10,150 The company is up 99% from its price of ₩5,100 on 17 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 13% over the same period. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 30% share price gain to ₩10,150, the stock is trading at a trailing P/E ratio of 39.8x, up from the previous P/E ratio of 30.6x. This compares to an average P/E of 15x in the Chemicals industry in South Korea. Total returns to shareholders over the past three years are 45%. Valuation Update With 7 Day Price Move • Nov 25
Market pulls back on stock over the past week After last week's 15% share price decline to ₩7,330, the stock is trading at a trailing P/E ratio of 33.5x, down from the previous P/E ratio of 39.6x. This compares to an average P/E of 13x in the Chemicals industry in South Korea. Total returns to shareholders over the past three years were flat. Is New 90 Day High Low • Nov 17
New 90-day high: ₩6,660 The company is up 33% from its price of ₩5,010 on 19 August 2020. The South Korean market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Nov 17
Market bids up stock over the past week After last week's 30% share price gain to ₩6,660, the stock is trading at a trailing P/E ratio of 35.9x, up from the previous P/E ratio of 27.7x. This compares to an average P/E of 14x in the Chemicals industry in South Korea. Total return to shareholders over the past three years is a loss of 8.1%. Announcement • Aug 31
Samhwa Paints Industrial Co., Ltd. to Report First Half, 2020 Results on Aug 07, 2020 Samhwa Paints Industrial Co., Ltd. announced that they will report first half, 2020 results on Aug 07, 2020