New Risk • Apr 15
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 15% 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: Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.3% net profit margin). New Risk • Apr 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 46% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.3% net profit margin). Market cap is less than US$100m (₩139.8b market cap, or US$92.7m). Announcement • Mar 17
ATON Inc., Annual General Meeting, Mar 30, 2026 ATON Inc., Annual General Meeting, Mar 30, 2026, at 09:01 Tokyo Standard Time. Location: creator hall, 108, yeoui-daero, yeongdeungpo-gu, seoul South Korea New Risk • Mar 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩132.3b (US$90.5m) 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 Profit margins are more than 30% lower than last year (8.4% net profit margin). Market cap is less than US$100m (₩132.3b market cap, or US$90.5m). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₩5,600, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩7,250, the stock trades at a trailing P/E ratio of 28.8x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 40% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩50.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 13 April 2026. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (1.7%). New Risk • Nov 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩145.3b (US$98.5m) 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 Profit margins are more than 30% lower than last year (12% net profit margin). Market cap is less than US$100m (₩145.3b market cap, or US$98.5m). Announcement • Nov 21
ATON Inc. announced that it expects to receive KRW 5.00000283 billion in funding ATON Inc. announced private placement to issue Series 4 Zero Coupon Unregistered Unsecured Private Convertible Bonds due November 28, 2030 for gross proceeds of KRW 5,000,002,830 on November 20, 2025. The transaction includes participation from Samsung Fintech Innovative New Technology Business Fund No. 1 for KRW 5,000,002,830. The bonds bear no interest rate with no yield to maturity. The bonds are 100% convertible into 664,011 shares at a price of KRW 7530 from December 05, 2025 to November 21, 2030. The bonds are restricted for 1 year. The transaction is approved by board of directors of the company and is expected to close on November 28, 2025. Declared Dividend • Nov 08
Dividend of ₩50.00 announced Dividend of ₩50.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 13th April 2026 Dividend yield will be 0.8%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (13% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 36% per year over the past 3 years and payments have been stable during that time. Earnings per share has grown by 48% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
ATON Inc. announces Annual dividend, payable on April 13, 2026 ATON Inc. announced Annual dividend of KRW 50.0000 per share payable on April 13, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Aug 29
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 12% Last year net profit margin: 20% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Profit margins are more than 30% lower than last year (12% net profit margin). Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩9,150, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 19x in the Software industry in South Korea. Total returns to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₩9,730, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 19x in the Software industry in South Korea. Total returns to shareholders of 104% over the past three years. New Risk • Jun 11
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 9.0% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jun 09
Now 34% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to ₩7,060. The fair value is estimated to be ₩5,268, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 30%. Buy Or Sell Opportunity • May 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₩5,750. The fair value is estimated to be ₩7,262, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 41%. Buy Or Sell Opportunity • Apr 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to ₩5,750. The fair value is estimated to be ₩7,361, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 41%. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩5,750, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 14% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: ₩500 (vs ₩437 in FY 2023) Full year 2024 results: EPS: ₩500 (up from ₩437 in FY 2023). Revenue: ₩65.4b (up 19% from FY 2023). Net income: ₩10.5b (up 15% from FY 2023). Profit margin: 16% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Mar 07
ATON Inc., Annual General Meeting, Mar 21, 2025 ATON Inc., Annual General Meeting, Mar 21, 2025, at 09:01 Tokyo Standard Time. Location: creator hall, 108, yeoui-daero, yeongdeungpo-gu, seoul South Korea Buy Or Sell Opportunity • Jan 07
Now 28% undervalued Over the last 90 days, the stock has risen 96% to ₩7,850. The fair value is estimated to be ₩10,975, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 49%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to decline by 12% in the next 2 years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩30.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 14 April 2025. Payout ratio is a comfortable 4.3% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₩6,300, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Software industry in South Korea. Total loss to shareholders of 24% over the past three years. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩220 (vs ₩58.00 in 3Q 2023) Third quarter 2024 results: EPS: ₩220 (up from ₩58.00 in 3Q 2023). Revenue: ₩15.0b (up 28% from 3Q 2023). Net income: ₩4.60b (up 275% from 3Q 2023). Profit margin: 31% (up from 10% in 3Q 2023). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in South Korea. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩5,850, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Software industry in South Korea. Total loss to shareholders of 18% over the past three years. New Risk • Nov 19
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 11% 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: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Profit margins are more than 30% lower than last year (20% net profit margin). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Market cap is less than US$100m (₩131.3b market cap, or US$94.3m). New Risk • Sep 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.8% 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 Profit margins are more than 30% lower than last year (20% net profit margin). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Market cap is less than US$100m (₩82.2b market cap, or US$61.5m). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩3,100, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 15x in the Software industry in South Korea. Total loss to shareholders of 45% over the past three years. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: ₩437 (vs ₩812 in FY 2022) Full year 2023 results: EPS: ₩437 (down from ₩812 in FY 2022). Revenue: ₩55.0b (up 23% from FY 2022). Net income: ₩9.19b (down 46% from FY 2022). Profit margin: 17% (down from 38% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Mar 08
ATON Inc. (KOSDAQ:A158430) announces an Equity Buyback for KRW 5,000 million worth of its shares. ATON Inc. (KOSDAQ:A158430) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares pursuant to a contract with Samsung Securities Co.,Ltd. The purpose of share repurchase is to enhance the shareholder value and stabilize the stock price. The program will expire on September 6, 2024. As of March 6, 2024, the company had 49,050 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. Upcoming Dividend • Dec 20
Upcoming dividend of ₩20.00 per share at 0.4% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. Payout ratio is a comfortable 2.6% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩4,750, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 20x in the Software industry in South Korea. Total loss to shareholders of 22% over the past three years. New Risk • Nov 30
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue 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 Revenue is less than US$1m. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Market cap is less than US$100m (₩91.8b market cap, or US$71.1m). New Risk • Jun 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.1% 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 Shareholders have been diluted in the past year (4.1% increase in shares outstanding). Market cap is less than US$100m (₩87.0b market cap, or US$68.0m). Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: ₩4,059 (vs ₩300 in FY 2021) Full year 2022 results: EPS: ₩4,059 (up from ₩300 in FY 2021). Revenue: ₩44.7b (up 3.4% from FY 2021). Net income: ₩17.0b (up ₩15.7b from FY 2021). Profit margin: 38% (up from 2.9% in FY 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Aug 24
ATON Inc. announced that it has received KRW 5.46992 billion in funding On August 23, 2022, ATON Inc. closed the transaction. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improved over the past week After last week's 15% share price gain to ₩28,100, the stock trades at a trailing P/E ratio of 63.8x. Average forward P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 16% over the past year. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₩25,500, the stock trades at a trailing P/E ratio of 57.9x. Average forward P/E is 13x in the Software industry in South Korea. Total returns to shareholders of 6.3% over the past year. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩30,950, the stock trades at a trailing P/E ratio of 27.6x. Average forward P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 20% over the past year. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improved over the past week After last week's 18% share price gain to ₩44,600, the stock trades at a trailing P/E ratio of 39.8x. Average forward P/E is 21x in the Software industry in South Korea. Total returns to shareholders of 54% over the past year. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improved over the past week After last week's 18% share price gain to ₩44,600, the stock trades at a trailing P/E ratio of 39.8x. Average forward P/E is 21x in the Software industry in South Korea. Total returns to shareholders of 54% over the past year. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 19% share price gain to ₩38,650, the stock trades at a trailing P/E ratio of 52x. Average forward P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 46% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₩29,959 per share. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improved over the past week After last week's 23% share price gain to ₩34,600, the stock trades at a trailing P/E ratio of 45.8x. Average forward P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 37% over the past year. Announcement • Jul 23
ATON Inc. announced that it has received KRW 16 billion in funding from BNK Asset Management Co.,Ltd., eBest Investment Securities Co., Ltd., Investment Arm and other investor On July 21, 2021, ATON Inc. closed the transaction. Announcement • Jul 20
ATON Inc. announced that it expects to receive KRW 6 billion in funding from EBEST Investment & Securities Co., Ltd., BNK Asset Management Co.,Ltd., and another investor ATON Inc. announced a private placement of series 2 bearer type non-guaranteed interest-bearing private placement non-separable bond with warrant for a gross proceeds of KRW 6,000,000,000 and series 1 non-guaranteed private equity convertible bonds with bearer type interest part for KRW 10,000,000,000 for total proceeds of KRW 16,000,000,000 on July 19, 2021. The transaction will include participation from EBEST Investment & Securities Co., Ltd. for KRW 4,000,000,000, and Absolute Tiger 38 Private Equity Trust for KRW 2,000,000,000 of series 2 bearer type non-guaranteed interest-bearing private placement non-separable bond. BNK Asset Management Co.,Ltd. will invest KRW 10,000,000,0000 in series 1 non-guaranteed private equity convertible bonds with bearer type interest part. The bonds will mature on July 21, 2026. The series 2 bearer type non-guaranteed interest-bearing private placement non-separable bond will be 100% converted into 217,391 common shares at a fixed conversion price of KRW 27,600 per share for an equity stake of 5.02%. The series 1 series 1 non-guaranteed private equity convertible bonds with bearer type interest part will be 100% converted into 362,318 common shares at a fixed conversion price of KRW 27,600 per share for an equity stake of 8.09%. The conversion period is from July 22, 2022 to June 21, 2026. The payment date of the transaction is July 21, 2021. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company. Is New 90 Day High Low • Feb 24
New 90-day low: ₩23,200 The company is down 15% from its price of ₩27,150 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 Software industry, which is up 10.0% over the same period. Is New 90 Day High Low • Jan 28
New 90-day low: ₩24,650 The company is down 1.0% from its price of ₩24,800 on 30 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 15% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: ₩29,100 The company is up 13% from its price of ₩25,650 on 02 September 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 Software industry, which is up 4.0% over the same period.