New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 121% 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 Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings are forecast to decline by an average of 121% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₩160,000, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 22x in the Semiconductor industry in South Korea. Total returns to shareholders of 627% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₩135,600, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 26x in the Semiconductor industry in South Korea. Total returns to shareholders of 697% over the past three years. New Risk • Jun 10
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 16% 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 (16% average weekly change). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩137,100, the stock trades at a trailing P/E ratio of 32.2x. Average trailing P/E is 29x in the Semiconductor industry in South Korea. Total returns to shareholders of 1,291% over the past three years. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩132,800, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 31x in the Semiconductor industry in South Korea. Total returns to shareholders of 1,461% over the past three years. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩108,600, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 26x in the Semiconductor industry in South Korea. Total returns to shareholders of 1,084% over the past three years. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩109,100, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 18x in the Semiconductor industry in South Korea. Total returns to shareholders of 1,215% over the past three years. Announcement • Feb 24
PSK HOLDINGS Inc., Annual General Meeting, Mar 30, 2026 PSK HOLDINGS Inc., Annual General Meeting, Mar 30, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 28-11, sandan-ro 15beon-gil, gyeonggi-do, pyeongtaek South Korea Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩89,500, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 20x in the Semiconductor industry in South Korea. Total returns to shareholders of 941% over the past three years. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to ₩78,900, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 917% over the past three years. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩58,000, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 702% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩700 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 13 April 2026. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.4%). Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩43,950, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 543% over the past three years. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ₩1,805 (vs ₩920 in 3Q 2024) Third quarter 2025 results: EPS: ₩1,805 (up from ₩920 in 3Q 2024). Revenue: ₩90.6b (up 132% from 3Q 2024). Net income: ₩38.9b (up 96% from 3Q 2024). Profit margin: 43% (down from 51% in 3Q 2024). Revenue is expected to decline by 5.0% p.a. on average during the next 3 years, while revenues in the Semiconductor industry in South Korea are expected to grow by 24%. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Nov 08
Dividend of ₩700 announced Dividend of ₩700 is the same as last year. Ex-date: 29th December 2025 Payment date: 13th April 2026 Dividend yield will be 1.5%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 2.3% over the next 3 years. However, it would need to fall by 82% to increase the payout ratio to a potentially unsustainable range. Announcement • Nov 07
PSK HOLDINGS Inc. announces Annual dividend, payable on April 13, 2026 PSK HOLDINGS Inc. announced Annual dividend of KRW 700.0000 per share payable on April 13, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Oct 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 7.4% 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 Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. 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 (7.4% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩49,000, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Semiconductor industry in South Korea. Total returns to shareholders of 686% over the past three years. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩38,950, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Semiconductor industry in South Korea. Total returns to shareholders of 424% over the past three years. Major Estimate Revision • Aug 21
Consensus revenue estimates fall by 21% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩238.1m to ₩187.9m. EPS estimate fell from ₩4,524 to ₩3,325 per share. Net income forecast to shrink 20% next year vs 16% growth forecast for Semiconductor industry in South Korea . Consensus price target down from ₩74,000 to ₩44,000. Share price fell 8.0% to ₩30,900 over the past week. New Risk • Aug 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. 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. Buy Or Sell Opportunity • May 26
Now 22% overvalued Over the last 90 days, the stock has fallen 27% to ₩32,000. The fair value is estimated to be ₩26,138, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 34%. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 7.1% in the next year. Reported Earnings • May 21
First quarter 2025 earnings released: EPS: ₩725 (vs ₩880 in 1Q 2024) First quarter 2025 results: EPS: ₩725 (down from ₩880 in 1Q 2024). Revenue: ₩31.2b (down 18% from 1Q 2024). Net income: ₩15.6b (down 18% from 1Q 2024). Profit margin: 50% (in line with 1Q 2024). Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Semiconductor industry in South Korea. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 39% per year. Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩32,100, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 191% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩34,950, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Semiconductor industry in South Korea. Total returns to shareholders of 172% over the past three years. Announcement • Feb 12
PSK HOLDINGS Inc., Annual General Meeting, Mar 31, 2025 PSK HOLDINGS Inc., Annual General Meeting, Mar 31, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 28-11, sandan-ro 15beon-gil, gyeonggi-do, pyeongtaek South Korea Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₩60,800, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Semiconductor industry in South Korea. Total returns to shareholders of 356% over the past three years. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩38,050, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Semiconductor industry in South Korea. Total returns to shareholders of 155% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩600 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 14 April 2025. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩32,850, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Semiconductor industry in South Korea. Total returns to shareholders of 160% over the past three years. Buy Or Sell Opportunity • Dec 17
Now 23% overvalued Over the last 90 days, the stock has fallen 17% to ₩32,850. The fair value is estimated to be ₩26,764, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 44% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩29,650, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Semiconductor industry in South Korea. Total returns to shareholders of 160% over the past three years. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩920 (vs ₩369 in 3Q 2023) Third quarter 2024 results: EPS: ₩920 (up from ₩369 in 3Q 2023). Revenue: ₩39.1b (up 163% from 3Q 2023). Net income: ₩19.8b (up 159% from 3Q 2023). Profit margin: 51% (in line with 3Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Semiconductor industry in South Korea. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩42,200, the stock trades at a trailing P/E ratio of 14.6x. Average forward P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 344% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩45,650, the stock trades at a trailing P/E ratio of 15.8x. Average forward P/E is 12x in the Semiconductor industry in South Korea. Total returns to shareholders of 349% over the past three years. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩47,600, the stock trades at a trailing P/E ratio of 16.4x. Average forward P/E is 12x in the Semiconductor industry in South Korea. Total returns to shareholders of 354% over the past three years. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩51,300, the stock trades at a forward P/E ratio of 2173x. Average forward P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 355% over the past three years. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩54,000, the stock trades at a forward P/E ratio of 2287x. Average forward P/E is 16x in the Semiconductor industry in South Korea. Total returns to shareholders of 371% over the past three years. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩64,600, the stock trades at a forward P/E ratio of 2736x. Average forward P/E is 17x in the Semiconductor industry in South Korea. Total returns to shareholders of 540% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩55,800, the stock trades at a forward P/E ratio of 2492x. Average forward P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 441% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩26,878 per share. New Risk • Apr 23
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 12% 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 (12% average weekly change). Minor Risks Dividend is not well covered by cash flows (92% cash payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (5.8% increase in shares outstanding). Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩52,400, the stock trades at a forward P/E ratio of 2340x. Average forward P/E is 20x in the Semiconductor industry in South Korea. Total returns to shareholders of 348% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩27,024 per share. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩45,500, the stock trades at a forward P/E ratio of 2183x. Average forward P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 532% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩26,903 per share. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩33,000, the stock trades at a forward P/E ratio of 1654x. Average forward P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 333% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩23,401 per share. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩29,400, the stock trades at a forward P/E ratio of 1474x. Average forward P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 263% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩21,939 per share. Buy Or Sell Opportunity • Jan 19
Now 24% overvalued The stock has been flat over the last 90 days, currently trading at ₩27,250. The fair value is estimated to be ₩21,939, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has declined by 5.1%. Revenue is forecast to grow by 36% in a year. Earnings are forecast to grow by 9.2% in the next year. Upcoming Dividend • Dec 20
Upcoming dividend of ₩500 per share at 1.8% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 08 April 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.0%). New Risk • Dec 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. 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 (11% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (5.8% increase in shares outstanding). Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩26,400, the stock trades at a trailing P/E ratio of 13.7x. Average forward P/E is 17x in the Semiconductor industry in South Korea. Total returns to shareholders of 308% over the past three years. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩32,500, the stock trades at a trailing P/E ratio of 14.9x. Average forward P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 421% over the past three years. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩24,900, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 313% over the past three years. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩24,450, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 290% over the past three years. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩30,150, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 13x in the Semiconductor industry in South Korea. Total returns to shareholders of 420% over the past three years. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩27,850, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 325% over the past three years. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩22,500, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 281% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩21,250, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 248% over the past three years. New Risk • Jun 23
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 9.2% 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 High level of non-cash earnings (25% accrual ratio). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 83x cash flows per share). Share price has been volatile over the past 3 months (9.2% average weekly change). Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩11,980, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 82% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩10,810, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total returns to shareholders of 57% over the past three years. Buying Opportunity • Dec 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be ₩8,860, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has declined by 7.7%. Upcoming Dividend • Dec 21
Upcoming dividend of ₩400 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 12 April 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 5.6%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.8%). Buying Opportunity • Nov 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.2%. The fair value is estimated to be ₩9,829, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has declined by 7.7%. Reported Earnings • Nov 20
Third quarter 2022 earnings released: EPS: ₩612 (vs ₩338 in 3Q 2021) Third quarter 2022 results: EPS: ₩612 (up from ₩338 in 3Q 2021). Revenue: ₩14.7b (down 27% from 3Q 2021). Net income: ₩12.6b (up 79% from 3Q 2021). Profit margin: 86% (up from 35% in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has remained flat, which means it is well ahead of earnings. 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. No highly experienced directors. 1 independent director (6 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 15% share price decline to ₩6,990, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 9x in the Semiconductor industry in South Korea. Negligible returns to shareholders over past three years. Buying Opportunity • May 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.3%. The fair value is estimated to be ₩16,174, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 11% in a year. Earnings is forecast to grow by 12% in the next 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. 7 experienced directors. No highly experienced directors. 1 independent director (6 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 • Feb 17
Investor sentiment improved over the past week After last week's 15% share price gain to ₩15,600, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Semiconductor industry in South Korea. Total loss to shareholders of 60% over the past three years. 
