PSK (KOSDAQ:A319660) - Share price, News & Analysis

Q: What is the Fair Price of A319660 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

A319660 (₩35150) is trading below our estimate of [[fair value]] (₩160125.54)

A319660 fundamental analysis
Snowflake Score
Valuation	6/6
Future Growth	4/6
Past Performance	4/6
Financial Health	5/6
Dividends	3/6

A319660 Stock Overview

PSK Inc. develops, manufactures, and sells semiconductor processing equipment in worldwide.

Rewards

Trading at 78% below our estimate of its fair value

Earnings are forecast to grow 19.86% per year

Earnings grew by 153.9% over the past year

Risk Analysis

Unstable dividend track record

PSK Competitors

ISC

KOSDAQ:A095340

₩506.7b

KoMiCo

KOSDAQ:A183300

₩442.7b

GemVax&KAELLtd

KOSDAQ:A082270

₩569.1b

NEXTIN

KOSDAQ:A348210

₩553.6b

Price History & Performance

Summary of all time highs, changes and price drops for PSK
Historical stock prices
Current Share Price	₩35,150.00
52 Week High	₩54,400.00
52 Week Low	₩33,150.00
Beta	1.71
1 Month Change	-5.64%
3 Month Change	-26.16%
1 Year Change	-9.99%
3 Year Change	116.31%
5 Year Change	n/a
Change since IPO	86.47%

Recent News & Updates

Apr 15

Should You Or Shouldn't You: A Dividend Analysis on PSK Inc. (KOSDAQ:319660)

Today we'll take a closer look at PSK Inc. ( KOSDAQ:319660 ) from a dividend investor's perspective. Owning a strong...

Shareholder Returns

	A319660	KR Semiconductor	KR Market
7D	-4.2%	-4.8%	0.06%
1Y	-10.0%	-18.6%	-22.5%

Return vs Industry: A319660 exceeded the KR Semiconductor industry which returned -18.6% over the past year.

Return vs Market: A319660 exceeded the KR Market which returned -22.5% over the past year.

Price Volatility

Is A319660's price volatile compared to industry and market?
A319660 volatility
A319660 Average Weekly Movement	6.3%
Semiconductor Industry Average Movement	6.4%
Market Average Movement	6.4%
10% most volatile stocks in KR Market	11.0%
10% least volatile stocks in KR Market	3.9%

Stable Share Price: A319660 is not significantly more volatile than the rest of KR stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: A319660's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1990	322	n/a	https://www.psk-inc.com

PSK Inc. develops, manufactures, and sells semiconductor processing equipment in worldwide. The company offers dry strip, dry cleaning, new hard mask strip, and edge clean products. It also provides 3D IC packing equipment, such as plasma source, reflow, hot DI, and plasma surface treatment systems.

PSK Fundamentals Summary

How do PSK's earnings and revenue compare to its market cap?
A319660 fundamental statistics
Market Cap	₩498.23b
Earnings (TTM)	₩71.19b
Revenue (TTM)	₩444.37b

7.2x

P/E Ratio

1.1x

P/S Ratio

Is A319660 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
A319660 income statement (TTM)
Revenue	₩444.37b
Cost of Revenue	₩240.81b
Gross Profit	₩203.56b
Other Expenses	₩132.37b
Earnings	₩71.19b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	4.92k
Gross Margin	45.81%
Net Profit Margin	16.02%
Debt/Equity Ratio	5.1%

How did A319660 perform over the long term?

See historical performance and comparison

Dividends

1.7%

Current Dividend Yield

12%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is A319660 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

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 A319660?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for A319660. This is calculated by dividing A319660's market cap by their current preferred multiple.
What is A319660's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₩498.23b

A319660 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	0.7x
Enterprise Value/EBITDA	3.5x
PEG Ratio	0.4x

Price to Earnings Ratio vs Peers

How does A319660's PE Ratio compare to its peers?

A319660 PE Ratio vs Peers

The above table shows the PE ratio for A319660 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	26.1x
A095340 ISC	13.4x	18.9%	₩506.7b
A183300 KoMiCo	9.1x	8.3%	₩442.7b
A082270 GemVax&KAELLtd	55.7x	n/a	₩569.1b
A348210 NEXTIN	25.6x	44.7%	₩553.6b
A319660 PSK	7.2x	19.9%	₩498.2b

Price-To-Earnings vs Peers: A319660 is good value based on its Price-To-Earnings Ratio (7.2x) compared to the peer average (26.1x).

Price to Earnings Ratio vs Industry

How does A319660's PE Ratio compare vs other companies in the KR Semiconductor Industry?

Price-To-Earnings vs Industry: A319660 is good value based on its Price-To-Earnings Ratio (7.2x) compared to the KR Semiconductor industry average (10.1x)

Price to Earnings Ratio vs Fair Ratio

What is A319660'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.

A319660 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.2x
Fair PE Ratio	13.8x

Price-To-Earnings vs Fair Ratio: A319660 is good value based on its Price-To-Earnings Ratio (7.2x) compared to the estimated Fair Price-To-Earnings Ratio (13.8x).

Share Price vs Fair Value

What is the Fair Price of A319660 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: A319660 (₩35150) is trading below our estimate of fair value (₩160125.54)

Significantly Below Fair Value: A319660 is trading below fair value by more than 20%.

Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Future Growth

How is PSK forecast to perform in the next 1 to 3 years based on estimates from 4 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

19.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: A319660's forecast earnings growth (19.9% per year) is above the savings rate (3.6%).

Earnings vs Market: A319660's earnings (19.9% per year) are forecast to grow faster than the KR market (16.4% per year).

High Growth Earnings: A319660's earnings are forecast to grow, but not significantly.

Revenue vs Market: A319660's revenue (12.9% per year) is forecast to grow faster than the KR market (9.8% per year).

High Growth Revenue: A319660's revenue (12.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: A319660's Return on Equity is forecast to be high in 3 years time (24.5%)

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Past Performance

How has PSK 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

153.9%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: A319660 has high quality earnings.

Growing Profit Margin: A319660's current net profit margins (16%) are higher than last year (9.8%).

Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if A319660's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Insufficient data to compare A319660's past year earnings growth to its 5-year average.

Earnings vs Industry: A319660 earnings growth over the past year (153.9%) exceeded the Semiconductor industry 48%.

Return on Equity

High ROE: A319660's Return on Equity (24.1%) is considered high.

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Financial Health

How is PSK's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

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

Financial Position Analysis

Short Term Liabilities: A319660's short term assets (₩343.9B) exceed its short term liabilities (₩112.3B).

Long Term Liabilities: A319660's short term assets (₩343.9B) exceed its long term liabilities (₩15.0B).

Debt to Equity History and Analysis

Debt Level: A319660 has more cash than its total debt.

Reducing Debt: Insufficient data to determine if A319660's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: A319660's debt is well covered by operating cash flow (620.2%).

Interest Coverage: A319660 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is PSK current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

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

1.71%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: A319660's dividend (1.71%) is higher than the bottom 25% of dividend payers in the KR market (0.95%).

High Dividend: A319660's dividend (1.71%) is low compared to the top 25% of dividend payers in the KR market (3%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, A319660 has been paying a dividend for less than 10 years.

Growing Dividend: A319660's dividend payments have increased, but the company has only paid a dividend for 2 years.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (12.4%), A319660's dividend payments are thoroughly covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (10.1%), A319660's dividend payments are thoroughly covered by cash flows.

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Management

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

CEO

PSK has no CEO, or we have no data on them.

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	2022/08/11 00:00
End of Day Share Price	2022/08/11 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31