Worldex Industry & Trading (KOSDAQ:A101160) - Share price, News & Analysis

Q: What is the Fair Price of A101160 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

A101160 (₩19750) is trading above our estimate of [[fair value]] (₩19128.64)

A101160 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	4/6
Past Performance	4/6
Financial Health	6/6
Dividends	0/6

A101160 Stock Overview

Worldex Industry & Trading Co., Ltd. manufactures semiconductor and display materials, and consumable parts in South Korea.

Rewards

Price-To-Earnings ratio (9.7x) is below the KR market (13.2x)

Earnings are forecast to grow 17.6% per year

Earnings have grown 30.5% per year over the past 5 years

Risk Analysis

High level of non-cash earnings

Worldex Industry & Trading Competitors

Duksan Hi MetalLtd

KOSDAQ:A077360

₩322.6b

Uniquest

KOSE:A077500

₩245.7b

LB Semicon

KOSDAQ:A061970

₩407.2b

MK Electron

KOSDAQ:A033160

₩282.0b

Price History & Performance

Summary of all time highs, changes and price drops for Worldex Industry & Trading
Historical stock prices
Current Share Price	₩19,750.00
52 Week High	₩31,600.00
52 Week Low	₩16,550.00
Beta	1.07
1 Month Change	13.18%
3 Month Change	-21.32%
1 Year Change	-14.50%
3 Year Change	199.24%
5 Year Change	306.38%
Change since IPO	387.65%

Recent News & Updates

Apr 08

Worldex Industry & Trading (KOSDAQ:101160) Could Become A Multi-Bagger

What are the early trends we should look for to identify a stock that could multiply in value over the long term...

Shareholder Returns

	A101160	KR Semiconductor	KR Market
7D	0.5%	-3.6%	1.0%
1Y	-14.5%	-16.5%	-20.3%

Return vs Industry: A101160 exceeded the KR Semiconductor industry which returned -16.5% over the past year.

Return vs Market: A101160 exceeded the KR Market which returned -20.3% over the past year.

Price Volatility

Is A101160's price volatile compared to industry and market?
A101160 volatility
A101160 Average Weekly Movement	7.0%
Semiconductor Industry Average Movement	6.4%
Market Average Movement	6.4%
10% most volatile stocks in KR Market	10.9%
10% least volatile stocks in KR Market	3.9%

Stable Share Price: A101160 is not significantly more volatile than the rest of KR stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: A101160's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2000	265	Jhong-sik Bae	https://www.worldexint.com

Worldex Industry & Trading Co., Ltd. manufactures semiconductor and display materials, and consumable parts in South Korea. It offers silicon ingots, electrodes, rings, boats, and other parts; quartz rings, tubes, boats, and other parts; fine ceramics; and target, a physical vapor deposition material that is used for processes, including display sputtering as principal material of semiconductor wafer deposition and display parts, such as LCD, PDP, OLED, TSP, etc. The company’s flagship products are silicon-parts for semiconductors, which are primarily used for etching processes in the semiconductor process.

Worldex Industry & Trading Fundamentals Summary

How do Worldex Industry & Trading's earnings and revenue compare to its market cap?
A101160 fundamental statistics
Market Cap	₩326.09b
Earnings (TTM)	₩33.56b
Revenue (TTM)	₩202.16b

9.7x

P/E Ratio

1.6x

P/S Ratio

Is A101160 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
A101160 income statement (TTM)
Revenue	₩202.16b
Cost of Revenue	₩143.40b
Gross Profit	₩58.76b
Other Expenses	₩25.20b
Earnings	₩33.56b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	2.03k
Gross Margin	29.07%
Net Profit Margin	16.60%
Debt/Equity Ratio	26.6%

How did A101160 perform over the long term?

See historical performance and comparison

Dividends

0.3%

Current Dividend Yield

3%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is A101160 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for A101160?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for A101160. This is calculated by dividing A101160's market cap by their current preferred multiple.
What is A101160's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₩326.09b

A101160 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.6x
Enterprise Value/EBITDA	6.5x
PEG Ratio	0.6x

Price to Earnings Ratio vs Peers

How does A101160's PE Ratio compare to its peers?

A101160 PE Ratio vs Peers

The above table shows the PE ratio for A101160 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	8.2x
A077360 Duksan Hi MetalLtd	9.2x	18.2%	₩322.6b
A077500 Uniquest	3.4x	n/a	₩245.7b
A061970 LB Semicon	11.7x	20.8%	₩407.2b
A033160 MK Electron	8.6x	n/a	₩282.0b
A101160 Worldex Industry & Trading	9.7x	17.6%	₩326.1b

Price-To-Earnings vs Peers: A101160 is expensive based on its Price-To-Earnings Ratio (9.7x) compared to the peer average (8.2x).

Price to Earnings Ratio vs Industry

How does A101160's PE Ratio compare vs other companies in the KR Semiconductor Industry?

Price-To-Earnings vs Industry: A101160 is good value based on its Price-To-Earnings Ratio (9.7x) compared to the KR Semiconductor industry average (10.4x)

Price to Earnings Ratio vs Fair Ratio

What is A101160's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

A101160 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	9.7x
Fair PE Ratio	12.7x

Price-To-Earnings vs Fair Ratio: A101160 is good value based on its Price-To-Earnings Ratio (9.7x) compared to the estimated Fair Price-To-Earnings Ratio (12.7x).

Share Price vs Fair Value

What is the Fair Price of A101160 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: A101160 (₩19750) is trading above our estimate of fair value (₩19128.64)

Significantly Below Fair Value: A101160 is trading above our estimate of fair value.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Worldex Industry & Trading forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

17.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: A101160's forecast earnings growth (17.6% per year) is above the savings rate (3.6%).

Earnings vs Market: A101160's earnings (17.6% per year) are forecast to grow faster than the KR market (16.4% per year).

High Growth Earnings: A101160's earnings are forecast to grow, but not significantly.

Revenue vs Market: A101160's revenue (18.4% per year) is forecast to grow faster than the KR market (9.9% per year).

High Growth Revenue: A101160's revenue (18.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: A101160's Return on Equity is forecast to be high in 3 years time (22.8%)

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Past Performance

How has Worldex Industry & Trading performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

30.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: A101160 has a high level of non-cash earnings.

Growing Profit Margin: A101160's current net profit margins (16.6%) are higher than last year (14.2%).

Past Earnings Growth Analysis

Earnings Trend: A101160's earnings have grown significantly by 30.5% per year over the past 5 years.

Accelerating Growth: A101160's earnings growth over the past year (42.8%) exceeds its 5-year average (30.5% per year).

Earnings vs Industry: A101160 earnings growth over the past year (42.8%) underperformed the Semiconductor industry 48%.

Return on Equity

High ROE: A101160's Return on Equity (22.1%) is considered high.

Discover strong past performing companies

Financial Health

How is Worldex Industry & Trading's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: A101160's short term assets (₩141.0B) exceed its short term liabilities (₩56.9B).

Long Term Liabilities: A101160's short term assets (₩141.0B) exceed its long term liabilities (₩17.0B).

Debt to Equity History and Analysis

Debt Level: A101160 has more cash than its total debt.

Reducing Debt: A101160's debt to equity ratio has reduced from 110.3% to 26.6% over the past 5 years.

Debt Coverage: A101160's debt is well covered by operating cash flow (68.8%).

Interest Coverage: A101160's interest payments on its debt are well covered by EBIT (41.2x coverage).

Balance Sheet

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Dividend

What is Worldex Industry & Trading current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

0.30%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: A101160's dividend (0.3%) isn’t notable compared to the bottom 25% of dividend payers in the KR market (0.93%).

High Dividend: A101160's dividend (0.3%) is low compared to the top 25% of dividend payers in the KR market (2.97%).

Stability and Growth of Payments

Stable Dividend: A101160 is not paying a notable dividend for the KR market, therefore no need to check if payments are stable.

Growing Dividend: A101160 is not paying a notable dividend for the KR market, therefore no need to check if payments are increasing.

Earnings Payout to Shareholders

Earnings Coverage: A101160 is not paying a notable dividend for the KR market.

Cash Payout to Shareholders

Cash Flow Coverage: A101160 is paying a dividend but the company has no free cash flows.

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Management

How experienced are the management team and are they aligned to shareholders interests?

CEO

Jhong-sik Bae (71 yo)

no data

Tenure

Mr. Bae Jhong-sik serves as the Chief Executive Officer of Worldex Industry & Trading Co., Ltd. at West Coast Quartz Corporation. Mr. Jhong-sik served as a Vice-President of Tbroad Ginam Broadcasting Co.,...

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/08/12 00:00
End of Day Share Price	2022/08/12 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31