Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩3,025, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 14x in the Software industry in South Korea. Total loss to shareholders of 43% over the past three years. New Risk • May 26
New major risk - Revenue and earnings growth Earnings have declined by 0.3% 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 0.3% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (15% net profit margin). Market cap is less than US$100m (₩52.6b market cap, or US$34.8m). New Risk • Mar 27
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: 18% Last year net profit margin: 33% 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: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (18% net profit margin). Market cap is less than US$100m (₩59.1b market cap, or US$39.1m). Announcement • Mar 13
Sandoll Inc., Annual General Meeting, Mar 26, 2026 Sandoll Inc., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 49, achasan-ro 17-gil, seongdong-gu, seoul South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₩3,500, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 16x in the Software industry in South Korea. Total loss to shareholders of 49% over the past three years. Announcement • Feb 11
Sandoll Inc. announces Annual dividend Sandoll Inc. announced Annual dividend of KRW 100.0000 per share, ex-date on February 26, 2026 and record date on February 27, 2026. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: ₩82.00 (vs ₩43.00 in 3Q 2024) Third quarter 2025 results: EPS: ₩82.00 (up from ₩43.00 in 3Q 2024). Revenue: ₩4.82b (up 6.4% from 3Q 2024). Net income: ₩1.21b (up 86% from 3Q 2024). Profit margin: 25% (up from 14% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩6,300, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 74% over the past year. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₩18,200, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 18x in the Software industry in South Korea. Total returns to shareholders of 143% over the past year. New Risk • Jul 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 8.8% 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 (8.8% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩88.4b market cap, or US$63.7m). Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩10,200, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 19x in the Software industry in South Korea. Total returns to shareholders of 42% over the past year. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩9,800, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 27% over the past year. Reported Earnings • May 18
First quarter 2025 earnings released: EPS: ₩186 (vs ₩92.00 in 1Q 2024) First quarter 2025 results: EPS: ₩186 (up from ₩92.00 in 1Q 2024). Revenue: ₩5.17b (up 60% from 1Q 2024). Net income: ₩1.36b (up 98% from 1Q 2024). Profit margin: 26% (up from 21% in 1Q 2024). Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: ₩710 (vs ₩427 in FY 2023) Full year 2024 results: EPS: ₩710 (up from ₩427 in FY 2023). Revenue: ₩15.7b (up 11% from FY 2023). Net income: ₩5.26b (up 64% from FY 2023). Profit margin: 33% (up from 23% in FY 2023). Announcement • Mar 13
Sandoll Inc., Annual General Meeting, Mar 26, 2025 Sandoll Inc., Annual General Meeting, Mar 26, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 49, achasan-ro 17-gil, seongdong-gu, seoul South Korea Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩7,180, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 15x in the Software industry in South Korea. Total loss to shareholders of 42% over the past year. 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 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 (4.5% increase in shares outstanding). Market cap is less than US$100m (₩53.1b market cap, or US$40.4m). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩6,440, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 13x in the Software industry in South Korea. Total loss to shareholders of 29% over the past year. New Risk • Jul 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.5% 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 Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (19% net profit margin). Shareholders have been diluted in the past year (4.5% increase in shares outstanding). Market cap is less than US$100m (₩59.8b market cap, or US$43.0m). Announcement • Jun 25
Sandoll Inc. (KOSDAQ:A419120) completed the acquisition of 94% stake in Yoon Design Inc. from Pyun Seok Hoon, Jeong Mia, Pyun Ha Sun, Yoo Myung Bok, Han Do Hee. Sandoll Inc. (KOSDAQ:A419120) agreed to acquire 94% stake in Yoon Design Inc. from Pyun Seok Hoon, Jeong Mia, Pyun Ha Sun, Yoo Myung Bok, Han Do Hee for KRW 15.6 billion on May 31, 2024. A cash consideration of KRW 15.57 billion will be paid by Sandoll Inc. As part of consideration, KRW 15.57 billion is paid towards common equity of Yoon Design Inc. The transaction will be financed through it's own funds.For the period ending December 31, 2023, Yoon Design Inc. reported total revenue of KRW 4.97 billion and net loss of KRW 1.95 billion. As of December 31, 2023, Yoon Design Inc. reported total debt of KRW 9.94 billion and total assets of KRW 12.64 billion. The expected completion of the transaction is June 24, 2024.Sandoll Inc. (KOSDAQ:A419120) completed the acquisition of 94% stake in Yoon Design Inc. from Pyun Seok Hoon, Jeong Mia, Pyun Ha Sun, Yoo Myung Bok, Han Do Hee on June 24, 2024. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: ₩427 (vs ₩1,469 in FY 2022) Full year 2023 results: EPS: ₩427 (down from ₩1,469 in FY 2022). Revenue: ₩14.2b (down 23% from FY 2022). Net income: ₩3.21b (down 66% from FY 2022). Profit margin: 23% (down from 52% in FY 2022). The decrease in margin was primarily driven by higher expenses. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩11,620, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 21x in the Software industry in South Korea. Total loss to shareholders of 26% over the past year. New Risk • Jan 24
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 8.8% 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 Revenue has declined by 23% over the past year. Minor Risks Less than 3 years of financial data is available. Dividend is not well covered by cash flows (460% cash payout ratio). Share price has been volatile over the past 3 months (8.8% 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 (21% increase in shares outstanding). Market cap is less than US$100m (₩82.1b market cap, or US$61.6m). Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to ₩11,050, the stock trades at a trailing P/E ratio of 29.7x. Average trailing P/E is 22x in the Software industry in South Korea. Total loss to shareholders of 21% over the past year. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩9,240, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 19x in the Software industry in South Korea. Total loss to shareholders of 24% over the past year. Upcoming Dividend • Dec 20
Upcoming dividend of ₩180 per share at 2.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 24 April 2024. Payout ratio is a comfortable 52% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.6%). New Risk • Nov 30
New major risk - Revenue and earnings growth Revenue has declined by 23% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Revenue has declined by 23% over the past year. Minor Risks Less than 3 years of financial data is available. Dividend is not well covered by cash flows (460% cash payout ratio). Profit margins are more than 30% lower than last year (20% net profit margin). Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (₩58.4b market cap, or US$45.0m). Announcement • Jun 09
Sandoll Inc. (KOSDAQ:A419120) announces an Equity Buyback for KRW 1,000 million worth of its shares. Sandoll Inc. (KOSDAQ:A419120) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares. The purpose of the program is to stabilize stock price and enhance the shareholder value. The program will expire on September 6, 2023. As of June 6, 2023, the company had 230,551 shares in treasury within scope available for dividend and no shares under other capacities.