Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩30,550, the stock trades at a trailing P/E ratio of 42.6x. Average forward P/E is 20x in the Semiconductor industry in South Korea. Total returns to shareholders of 219% over the past three years. Reported Earnings • Mar 21
Full year 2025 earnings released: EPS: ₩715 (vs ₩120 loss in FY 2024) Full year 2025 results: EPS: ₩715 (up from ₩120 loss in FY 2024). Revenue: ₩66.0b (up 109% from FY 2024). Net income: ₩8.96b (up ₩10.3b from FY 2024). Profit margin: 14% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 134 percentage points per year, which is a significant difference in performance. Announcement • Feb 25
Exicon Co., Ltd., Annual General Meeting, Mar 24, 2026 Exicon Co., Ltd., Annual General Meeting, Mar 24, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 15, 4sandan 6-gil, jiksan-eup, seobuk-gu, chungcheongnam-do, cheonan South Korea Announcement • Feb 10
Exicon Co., Ltd. announces Annual dividend Exicon Co., Ltd. announced Annual dividend of KRW 100.0000 per share, ex-date on February 26, 2026 and record date on February 28, 2026. New Risk • Sep 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 8.4% 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 36% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). New Risk • Aug 29
New major risk - Revenue and earnings growth Earnings have declined by 36% 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 36% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩122.1b market cap, or US$87.9m). New Risk • Apr 09
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 8.7% 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 12% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (₩126.5b market cap, or US$85.7m). New Risk • Mar 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩145.7b (US$99.2m) 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 Risk Earnings have declined by 12% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (₩145.7b market cap, or US$99.2m). New Risk • Mar 21
New major risk - Revenue and earnings growth Earnings have declined by 12% 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 12% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). Reported Earnings • Mar 21
Full year 2024 earnings released: ₩120 loss per share (vs ₩474 profit in FY 2023) Full year 2024 results: ₩120 loss per share (down from ₩474 profit in FY 2023). Revenue: ₩31.6b (down 62% from FY 2023). Net loss: ₩1.36b (down 128% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • Feb 25
Exicon Co., Ltd., Annual General Meeting, Mar 25, 2025 Exicon Co., Ltd., Annual General Meeting, Mar 25, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 15, 4sandan 6-gil, jiksan-eup, seongbuk-gu, chungcheongnam-do, cheonan South Korea Upcoming Dividend • Jan 18
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 24 January 2025. Payment date: 16 April 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (0.6%). New Risk • Nov 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩132.5b (US$94.2m) 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 Share price has been volatile over the past 3 months (10% average weekly change). Profit margins are more than 30% lower than last year (2.7% net profit margin). Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (₩132.5b market cap, or US$94.2m). New Risk • Sep 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩130.0b (US$97.9m) 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 Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (2.7% net profit margin). Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (₩130.0b market cap, or US$97.9m). New Risk • Aug 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). Announcement • Apr 25
Exicon Co., Ltd. has filed a Follow-on Equity Offering in the amount of KRW 40.01034 billion. Exicon Co., Ltd. has filed a Follow-on Equity Offering in the amount of KRW 40.01034 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 2,202,000
Price\Range: KRW 18170
Discount Per Security: KRW 1072.03
Transaction Features: Subsequent Direct Listing Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩22,800, the stock trades at a trailing P/E ratio of 48.1x. Average trailing P/E is 24x in the Semiconductor industry in South Korea. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩33,350, the stock trades at a trailing P/E ratio of 70.3x. Average trailing P/E is 25x in the Semiconductor industry in South Korea. Total returns to shareholders of 126% over the past three years. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: ₩474 (vs ₩1,500 in FY 2022) Full year 2023 results: EPS: ₩474 (down from ₩1,500 in FY 2022). Revenue: ₩82.3b (down 9.7% from FY 2022). Net income: ₩4.89b (down 68% from FY 2022). Profit margin: 5.9% (down from 17% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩22,600, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 72% over the past three years. Buy Or Sell Opportunity • Mar 04
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 69% to ₩18,410. The fair value is estimated to be ₩15,257, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 8.5%. Upcoming Dividend • Feb 21
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 February 2024. Payment date: 17 April 2024. Payout ratio is a comfortable 9.1% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (0.9%). Buy Or Sell Opportunity • Feb 14
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 55% to ₩19,300. The fair value is estimated to be ₩15,362, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 8.5%. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩17,230, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total returns to shareholders of 24% over the past three years. Buy Or Sell Opportunity • Jan 19
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to ₩17,600. The fair value is estimated to be ₩14,375, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 8.5%. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩21,950, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 20x in the Semiconductor industry in South Korea. Total returns to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩15,220, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 19x in the Semiconductor industry in South Korea. Total loss to shareholders of 1.5% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩100.00 per share at 0.7% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 17 April 2024. Payout ratio is a comfortable 9.1% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (1.0%). Buying Opportunity • Dec 05
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be ₩14,396, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has declined by 8.5%. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩64.00 (vs ₩616 in 3Q 2022) Third quarter 2023 results: EPS: ₩64.00 (down from ₩616 in 3Q 2022). Revenue: ₩17.3b (down 36% from 3Q 2022). Net income: ₩660.3m (down 89% from 3Q 2022). Profit margin: 3.8% (down from 23% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 5% per year. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩14,410, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 14x in the Semiconductor industry in South Korea. Total returns to shareholders of 7.4% over the past three years. New Risk • Oct 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩133.7b (US$99.3m) 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. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (₩133.7b market cap, or US$99.3m). New Risk • Aug 17
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.4% 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 Profit margins are more than 30% lower than last year (15% net profit margin). Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩15,010, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩12,850, the stock trades at a trailing P/E ratio of 8.3x. Average forward P/E is 12x in the Semiconductor industry in South Korea. Total returns to shareholders of 57% over the past three years. Announcement • Dec 29
Exicon Co., Ltd. (KOSDAQ:A092870) announces an Equity Buyback for KRW 1,000 million worth of its shares. Exicon Co., Ltd. (KOSDAQ:A092870) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares, pursuant to a trust contract with Samsung Securities. The purpose of the program is to enhance the shareholder value through stabilization of stock price. The program will expire on June 27, 2023. As of December 27, 2022, the company had 439,418 shares in treasury within scope of allotment and had 1,970 shares in treasury under other acquisitions. Upcoming Dividend • Dec 21
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 17 April 2023. Payout ratio is a comfortable 6.0% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (1.8%). Announcement • Jul 15
Exicon Co., Ltd. (KOSDAQ:A092870) announces an Equity Buyback for KRW 1,000 million worth of its shares. Exicon Co., Ltd. (KOSDAQ:A092870) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares, pursuant to a trust contract with Samsung Securities. The purpose of the program is to enhance the shareholder value through stabilization of stock price. The program will expire on January 13, 2023. As of July 13, 2022, the company had 337,418 shares in treasury within scope of allotment and had 1,970 shares in treasury under other acquisitions. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩11,250, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total returns to shareholders of 90% over the past three years. Announcement • Feb 16
Exicon Co., Ltd. (KOSDAQ:A092870) announces an Equity Buyback for KRW 1,000 million worth of its shares. Exicon Co., Ltd. (KOSDAQ:A092870) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of own shares. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on August 16, 2022. As of February 15, 2022, the company had 245,843 treasury shares within scope available for dividend and 1970 shares in treasury through other repurchase. Upcoming Dividend • Dec 22
Upcoming dividend of ₩49.51 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. Payout ratio is a comfortable 1.6% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (0.9%). Is New 90 Day High Low • Feb 24
New 90-day low: ₩14,050 The company is down 4.0% from its price of ₩14,653 on 26 November 2020. The South Korean market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 34% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩1,586 per share. Is New 90 Day High Low • Jan 04
New 90-day high: ₩17,000 The company is up 41% from its price of ₩12,079 on 06 October 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 32% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩1,572 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩50.00 Per Share Will be paid on the 20th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.4% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (0.8%). Is New 90 Day High Low • Dec 04
New 90-day high: ₩15,150 The company is up 40% from its price of ₩10,800 on 04 September 2020. The South Korean market is up 13% 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. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩1,544 per share. Is New 90 Day High Low • Nov 04
New 90-day high: ₩14,150 The company is up 30% from its price of ₩10,900 on 06 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩599 per share. Is New 90 Day High Low • Oct 07
New 90-day high: ₩13,700 The company is up 50% from its price of ₩9,140 on 09 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 4.0% over the same period.