Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩5,260, the stock trades at a trailing P/E ratio of 43.4x. Average trailing P/E is 15x in the Specialty Retail industry in South Korea. Total returns to shareholders of 15% over the past three years. Announcement • Mar 13
Deutsch Motors Inc., Annual General Meeting, Mar 26, 2026 Deutsch Motors Inc., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 90, neungdong-ro, gwangjin-gu, seoul South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩380 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 13 April 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 8.0%. Within top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (4.1%). Declared Dividend • Nov 08
Dividend of ₩380 announced Dividend of ₩380 is the same as last year. Ex-date: 29th December 2025 Payment date: 13th April 2026 Dividend yield will be 8.5%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having 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 9.2% per year over the past 5 years and payments have been stable during that time. Announcement • Nov 07
Deutsch Motors Inc. announces Annual dividend, payable on April 13, 2026 Deutsch Motors Inc. announced Annual dividend of KRW 380.0000 per share payable on April 13, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Buy Or Sell Opportunity • May 09
Now 20% undervalued Over the last 90 days, the stock has risen 2.5% to ₩4,660. The fair value is estimated to be ₩5,855, 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% over the last 3 years. Meanwhile, the company became loss making. Announcement • Mar 18
Deutsch Motors Inc., Annual General Meeting, Mar 31, 2025 Deutsch Motors Inc., Annual General Meeting, Mar 31, 2025, at 09:30 Tokyo Standard Time. Location: auditorium, 12, achasan-ro, seongdong-gu, seoul South Korea Buy Or Sell Opportunity • Feb 26
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at ₩4,690. The fair value is estimated to be ₩5,893, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Dec 20
Upcoming dividend of ₩380 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 11 April 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 7.6%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (3.0%). 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 • Nov 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩140.2b (US$99.9m) 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 Risks Interest payments are not well covered by earnings (0.9x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 243% Paying a dividend despite having no free cash flows. Earnings have declined by 25% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (₩140.2b market cap, or US$99.9m). New Risk • Aug 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 51% 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 Risks Interest payments are not well covered by earnings (0.9x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 247% Paying a dividend despite having no free cash flows. Earnings have declined by 25% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Buy Or Sell Opportunity • Aug 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.1% to ₩4,925. The fair value is estimated to be ₩6,200, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 23%. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩133.1b (US$97.6m) 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 Risks Interest payments are not well covered by earnings (1.2x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 117% Paying a dividend despite having no free cash flows. Earnings have declined by 21% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (₩133.1b market cap, or US$97.6m). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩5,890, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 18x in the Specialty Retail industry in South Korea. Total returns to shareholders of 4.9% over the past three years. New Risk • Jan 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩132.2b (US$98.2m) 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: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 93% Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (₩132.2b market cap, or US$98.2m). Upcoming Dividend • Dec 20
Upcoming dividend of ₩360 per share at 7.1% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 11 April 2024. Payout ratio is on the higher end at 93% but the company is not cash flow positive. Trailing yield: 7.1%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.5%). Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩0.33 (vs ₩447 in 3Q 2022) Third quarter 2023 results: EPS: ₩0.33 (down from ₩447 in 3Q 2022). Revenue: ₩548.1b (up 12% from 3Q 2022). Net income: ₩10.8m (down 100% from 3Q 2022). Profit margin: 0% (down from 1.3% in 3Q 2022). The decrease in margin was driven by higher expenses. 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 5% per year, which means it is significantly lagging earnings. Reported Earnings • May 20
First quarter 2023 earnings released: ₩38.00 loss per share (vs ₩413 profit in 1Q 2022) First quarter 2023 results: ₩38.00 loss per share (down from ₩413 profit in 1Q 2022). Revenue: ₩487.9b (up 4.6% from 1Q 2022). Net loss: ₩1.14b (down 110% from profit in 1Q 2022). Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Specialty Retail industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 22
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₩1,213 (up from ₩1,193 in FY 2021). Revenue: ₩1.96t (up 15% from FY 2021). Net income: ₩36.4b (up 4.7% from FY 2021). Profit margin: 1.9% (down from 2.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 2.3%. Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Specialty Retail industry in Asia. Over the last 3 years on average, earnings per share has fallen by 6% 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 • Feb 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩7,020, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Specialty Retail industry in Asia. Total returns to shareholders of 1.3% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩350 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 11 April 2023. Payout ratio is a comfortable 28% but the company is paying out more than the cash it is generating. Trailing yield: 5.6%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.3%). 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 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 • Jun 17
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩9,140, the stock trades at a trailing P/E ratio of 6.9x. Average forward P/E is 14x in the Specialty Retail industry in South Korea. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩6,697 per share. Price Target Changed • Apr 27
Price target increased to ₩15,000 Up from ₩10,500, the current price target is provided by 1 analyst. New target price is 33% above last closing price of ₩11,250. Stock is up 41% over the past year. The company is forecast to post earnings per share of ₩1,398 for next year compared to ₩1,193 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. 1 independent director (2 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 • Apr 18
Investor sentiment improved over the past week After last week's 15% share price gain to ₩12,150, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 16x in the Specialty Retail industry in Asia. Total returns to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 22% share price gain to ₩10,450, the stock trades at a trailing P/E ratio of 8.9x. Average forward P/E is 16x in the Specialty Retail industry in South Korea. Total returns to shareholders of 61% over the past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improved over the past week After last week's 15% share price gain to ₩8,470, the stock trades at a trailing P/E ratio of 8.2x. Average forward P/E is 17x in the Specialty Retail industry in South Korea. Total returns to shareholders of 48% over the past three years. Price Target Changed • Dec 23
Price target increased to ₩12,500 Up from ₩10,500, the current price target is an average from 3 analysts. New target price is 62% above last closing price of ₩7,700. Stock is up 4.7% over the past year. The company is forecast to post earnings per share of ₩1,299 for next year compared to ₩524 last year. Upcoming Dividend • Dec 22
Upcoming dividend of ₩245 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 13 April 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 3.1%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.9%). Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 16% share price gain to ₩7,500, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 16x in the Specialty Retail industry in Asia. Total returns to shareholders of 39% over the past three years. Major Estimate Revision • Jul 28
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from ₩1.70b to ₩1.92b. EPS estimate unchanged from ₩991 at last update. Specialty Retail industry in South Korea expected to see average net income growth of 19% next year. Consensus price target up from ₩10,500 to ₩11,167. Share price rose 14% to ₩8,790 over the past week. Price Target Changed • May 02
Price target increased to ₩10,444 Up from ₩9,379, the current price target is an average from 3 analysts. New target price is 35% above last closing price of ₩7,760. Stock is up 18% over the past year. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 16% share price gain to ₩8,170, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 18x in the Specialty Retail industry in Asia. Total returns to shareholders of 30% over the past three years. Announcement • Feb 23
Deutsch Motors Inc. announced that it expects to receive KRW 30 billion in funding from Leading Investment & Securities Co., Investment Arm and other investors Deutsch Motors Inc. (KOSDAQ:A067990) announced a private placement of 9th series non guaranteed Private convertible bonds for gross proceeds of KRW 30,000,000,000 on February 23, 2021. The transaction will include participation from Leading Corporate Growth Specialized private Equity Investment Trust 4 for KRW 14,000,000,000, Korea Investment Innovation Growth Scale Up Private Equity Partnership for KRW 10,000,000,000 and Leading Investment & Securities Co., Investment Arm for KRW 6,000,000,000. The securities will have a lock up period of one year. The bonds will not bear any coupon rate and yield to maturity of 1%. The bonds will mature on February 26, 2026. The bonds will be fully convertible into 4,145,937 shares of the company at a fixed conversion price of KRW 7,236 between the period of February 27, 2022 to January 26, 2026. The subscription and the payment is February 25, 2021 and February 26, 2021 respectively. The transaction has been approved at the board of directors of the company. Is New 90 Day High Low • Dec 28
New 90-day high: ₩7,840 The company is up 34% from its price of ₩5,860 on 29 September 2020. The South Korean market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩6,816 per share. Is New 90 Day High Low • Dec 24
New 90-day high: ₩7,500 The company is up 29% from its price of ₩5,800 on 25 September 2020. The South Korean market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩7,076 per share. Is New 90 Day High Low • Dec 04
New 90-day high: ₩6,720 The company is up 4.0% from its price of ₩6,490 on 04 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩2,392 per share. Is New 90 Day High Low • Oct 20
New 90-day low: ₩5,460 The company is down 15% from its price of ₩6,430 on 22 July 2020. The South Korean market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩3,181 per share. Is New 90 Day High Low • Sep 21
New 90-day low: ₩6,130 The company is down 8.0% from its price of ₩6,670 on 23 June 2020. The South Korean market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩52,975 per share. 