Buy Or Sell Opportunity • Jul 02
Now 22% undervalued Over the last 90 days, the stock has risen 140% to ₩99,500. The fair value is estimated to be ₩126,758, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Earnings per share has grown by 88%. Revenue is forecast to grow by 78% in 2 years. Earnings are forecast to grow by 107% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩107,600, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 483% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩114,332 per share. Buy Or Sell Opportunity • Jun 17
Now 23% undervalued Over the last 90 days, the stock has risen 80% to ₩87,600. The fair value is estimated to be ₩113,868, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Earnings per share has grown by 88%. Revenue is forecast to grow by 78% in 2 years. Earnings are forecast to grow by 107% in the next 2 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 Risks Share price has been highly volatile over the past 3 months (16% average weekly change). High level of non-cash earnings (29% accrual ratio). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩68,000, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 21x in the Semiconductor industry in South Korea. Total returns to shareholders of 364% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩114,849 per share. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩64,500, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 24x in the Semiconductor industry in South Korea. Total returns to shareholders of 400% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩118,842 per share. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩46,150, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 20x in the Semiconductor industry in South Korea. Total returns to shareholders of 299% over the past three years. Price Target Changed • Apr 07
Price target increased by 40% to ₩58,000 Up from ₩41,500, the current price target is an average from 2 analysts. New target price is 47% above last closing price of ₩39,350. Stock is up 287% over the past year. The company is forecast to post earnings per share of ₩2,931 for next year compared to ₩1,135 last year. New Risk • Apr 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 30% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩48,800, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 22x in the Semiconductor industry in South Korea. Total returns to shareholders of 362% over the past three years. New Risk • Mar 05
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 14% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩41,050, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 22x in the Semiconductor industry in South Korea. Total returns to shareholders of 250% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩18,403 per share. Announcement • Feb 24
VM Inc., Annual General Meeting, Mar 30, 2026 VM Inc., Annual General Meeting, Mar 30, 2026, at 08:00 Tokyo Standard Time. Location: auditorium, 58-47, seoicheon-ro, majang-myeon, gyeonggi-do, icheon South Korea Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩34,000, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 194% over the past three years. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩29,350, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the Semiconductor industry in South Korea. Total returns to shareholders of 156% over the past three years. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩27,100, the stock trades at a trailing P/E ratio of 36.6x. Average forward P/E is 16x in the Semiconductor industry in South Korea. Total returns to shareholders of 130% over the past three years. New Risk • Sep 26
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 have declined by 46% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. New Risk • Aug 30
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Minor Risks Less than 3 years of financial data is available. Large one-off items impacting financial results. New Risk • Mar 21
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 8.4% 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 have declined by 34% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Announcement • Mar 18
VM Inc., Annual General Meeting, Mar 31, 2025 VM Inc., Annual General Meeting, Mar 31, 2025, at 08:00 Tokyo Standard Time. Location: auditorium, 58-47, seoicheon-ro, majang-myeon, gyeonggi-do, icheon South Korea New Risk • Jan 21
New major risk - Revenue and earnings growth Earnings have declined by 34% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. New Risk • Dec 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩135.0b (US$96.3m) 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. This is currently the only risk that has been identified for the company. 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 Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Reported Earnings • Mar 26
Full year 2023 earnings released: ₩323 loss per share (vs ₩1,298 profit in FY 2022) Full year 2023 results: ₩323 loss per share (down from ₩1,298 profit in FY 2022). Revenue: ₩26.0b (down 82% from FY 2022). Net loss: ₩6.98b (down 125% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. New Risk • Nov 30
New major risk - Revenue and earnings growth Earnings have declined by 2.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.4% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.2% increase in shares outstanding). New Risk • Nov 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% 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: Major Risk High level of non-cash earnings (76% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.3% net profit margin). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩13,620, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 13x in the Semiconductor industry in South Korea. Total returns to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩19,160, the stock trades at a trailing P/E ratio of 32.7x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩17,990, the stock trades at a trailing P/E ratio of 30.7x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 91% over the past three years. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩14,580, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩12,370, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total returns to shareholders of 119% over the past three years. Buying Opportunity • Dec 28
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be ₩14,083, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 40%. Upcoming Dividend • Dec 21
Upcoming dividend of ₩1,000 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. Payout ratio is a comfortable 62% but the company is paying out more than the cash it is generating. Trailing yield: 11%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.8%). Upcoming Dividend • Sep 22
Upcoming dividend of ₩200 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 24 October 2022. Payout ratio is a comfortable 56% and the cash payout ratio is 87%. Trailing yield: 8.0%. Within top quartile of South Korean dividend payers (3.1%). Higher than average of industry peers (1.6%). Announcement • Aug 05
Adaptive Plasma Technology Corp. (KOSDAQ:A089970) announces an Equity Buyback for KRW 10,000 million worth of its shares. Adaptive Plasma Technology Corp. (KOSDAQ:A089970) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a contract with Daishin Securities Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on February 04, 2023. As of August 4, 2022, the company had 2,088,971 shares in treasury within the scope available for dividend and had 0 shares in treasury through other repurchase. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩16,550, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 11x in the Semiconductor industry in South Korea. Total returns to shareholders of 175% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 19% share price gain to ₩23,850, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 16x in the Semiconductor industry in South Korea. Total returns to shareholders of 337% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩18,750, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 18x in the Semiconductor industry in South Korea. Total returns to shareholders of 275% over the past three years. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 18% share price gain to ₩20,000, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 18x in the Semiconductor industry in South Korea. Total returns to shareholders of 268% over the past three years. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS ₩467 (vs ₩107 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩33.0b (up 149% from 3Q 2020). Net income: ₩10.0b (up 350% from 3Q 2020). Profit margin: 30% (up from 17% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year whereas the company’s share price has increased by 46% per year. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩15,050, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 179% 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 15% share price decline to ₩22,700, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 22x in the Semiconductor industry in South Korea. Total returns to shareholders of 82% over the past year. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₩26,750, the stock trades at a trailing P/E ratio of 24.1x. Average trailing P/E is 23x in the Semiconductor industry in South Korea. Total returns to shareholders of 285% over the past year. Announcement • Apr 01
Adaptive Plasma Technology Corp. (KOSDAQ:A089970) announces an Equity Buyback for KRW 10,000 million worth of its shares. Adaptive Plasma Technology Corp. (KOSDAQ:A089970) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares pursuant to a contract with Daishin Securities Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on September 30, 2021. As of March 29, 2021, the company had 1,768,977 shares in treasury within the scope available for dividend and had 0 shares in treasury through other repurchase. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 15% share price gain to ₩23,550, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 384% over the past year. Is New 90 Day High Low • Feb 15
New 90-day high: ₩22,150 The company is up 49% from its price of ₩14,850 on 17 November 2020. The South Korean market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 26% over the same period. Announcement • Feb 06
Adaptive Plasma Technology Corp., Annual General Meeting, Feb 22, 2021 Adaptive Plasma Technology Corp., Annual General Meeting, Feb 22, 2021, at 08:00 Korea Standard Time. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 15% share price gain to ₩19,900, the stock is trading at a trailing P/E ratio of 29.6x, up from the previous P/E ratio of 25.7x. This compares to an average P/E of 19x in the Semiconductor industry in South Korea. Total returns to shareholders over the past year are 164%. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improved over the past week After last week's 16% share price gain to ₩17,050, the stock is trading at a trailing P/E ratio of 25.4x, up from the previous P/E ratio of 21.8x. This compares to an average P/E of 19x in the Semiconductor industry in South Korea. Total returns to shareholders over the past year are 143%. Is New 90 Day High Low • Dec 16
New 90-day high: ₩16,600 The company is up 36% from its price of ₩12,200 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 Semiconductor industry, which is up 27% over the same period. Is New 90 Day High Low • Nov 13
New 90-day high: ₩14,600 The company is up 6.0% from its price of ₩13,800 on 14 August 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Semiconductor industry, which is also up 6.0% over the same period. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 15% share price gain to ₩13,500, the stock is trading at a trailing P/E ratio of 16.8x, up from the previous P/E ratio of 14.6x. This compares to an average P/E of 19x in the Semiconductor industry in South Korea. Total returns to shareholders over the past year are 103%. Is New 90 Day High Low • Sep 24
New 90-day low: ₩10,900 The company is down 17% from its price of ₩13,100 on 26 June 2020. The South Korean market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 5.0% over the same period.