Reported Earnings • Mar 17
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ₩674 (down from ₩1,030 in FY 2024). Revenue: ₩1.35t (down 9.2% from FY 2024). Net income: ₩33.7b (down 37% from FY 2024). Profit margin: 2.5% (down from 3.6% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 42%. Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. Announcement • Mar 04
Partron Co., Ltd., Annual General Meeting, Mar 19, 2026 Partron Co., Ltd., Annual General Meeting, Mar 19, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 22, samsung 1-ro 2-gil, gyeonggi-do, hwaseong South Korea Major Estimate Revision • Apr 24
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩1.44b to ₩1.40b. EPS estimate also fell from ₩801 per share to ₩670 per share. Net income forecast to shrink 28% next year vs 7.9% growth forecast for Electronic industry in South Korea . Consensus price target down from ₩10,500 to ₩9,675. Share price was steady at ₩6,990 over the past week. Reported Earnings • Mar 14
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₩1,030 (up from ₩539 in FY 2023). Revenue: ₩1.49t (up 27% from FY 2023). Net income: ₩53.4b (up 85% from FY 2023). Profit margin: 3.6% (up from 2.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Feb 28
Partron Co., Ltd., Annual General Meeting, Mar 19, 2025 Partron Co., Ltd., Annual General Meeting, Mar 19, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 22, samsung 1-ro 2-gil, gyeonggi-do, hwaseong South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 08 April 2025. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.0%). Major Estimate Revision • Aug 10
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ₩864 to ₩776 per share. Revenue forecast steady at ₩1.48b. Net income forecast to grow 66% next year vs 38% growth forecast for Electronic industry in South Korea. Consensus price target of ₩10,500 unchanged from last update. Share price fell 3.6% to ₩7,330 over the past week. Major Estimate Revision • Aug 02
Consensus EPS estimates increase by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ₩1.40b to ₩1.49b. EPS estimate increased from ₩730 to ₩864 per share. Net income forecast to grow 81% next year vs 39% growth forecast for Electronic industry in South Korea. Consensus price target of ₩10,500 unchanged from last update. Share price was steady at ₩7,560 over the past week. Major Estimate Revision • May 02
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from ₩1.35b to ₩1.39b. EPS estimate increased from ₩640 to ₩711 per share. Net income forecast to grow 46% next year vs 32% growth forecast for Electronic industry in South Korea. Consensus price target of ₩11,060 unchanged from last update. Share price rose 2.3% to ₩8,030 over the past week. Reported Earnings • Mar 15
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: ₩539 (down from ₩700 in FY 2022). Revenue: ₩1.17t (down 4.1% from FY 2022). Net income: ₩28.8b (down 25% from FY 2022). Profit margin: 2.5% (down from 3.2% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 7.2%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in South Korea. 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 10% per year. Announcement • Mar 05
Partron Co., Ltd., Annual General Meeting, Mar 20, 2024 Partron Co., Ltd., Annual General Meeting, Mar 20, 2024, at 10:00 Korea Standard Time. Location: Samsung 1-ro 2-gil 22, Gyeonggi-do Hwaseong-si South Korea Agenda: To consider the 21st non-consolidated and consolidated financial statements; to consider the establishment of operating regulations for general shareholders’ meeting; to consider the appointment of auditor (appointment of standing auditor Lee Seok-jae); to consider the approval of the directors’s remuneration limit; and to consider the approval of the auditors’s remuneration limit. Buy Or Sell Opportunity • Jan 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.9% to ₩8,040. The fair value is estimated to be ₩10,051, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.0%. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to grow by 72% in the next 2 years. Buying Opportunity • Jan 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.3%. The fair value is estimated to be ₩10,087, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 5.0%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 72% in the next 2 years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩300 per share at 3.6% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 04 April 2024. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.9%). New Risk • Aug 21
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: 3.3% Last year net profit margin: 5.2% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (3.3% net profit margin). Major Estimate Revision • Aug 02
Consensus revenue estimates decrease by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from ₩1.29b to ₩1.15b. EPS estimate unchanged from ₩886 per share at last update. Electronic industry in South Korea expected to see average net income growth of 23% next year. Consensus price target down from ₩10,950 to ₩10,617. Share price was steady at ₩7,930 over the past week. Reported Earnings • Mar 18
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: ₩700 (down from ₩1,309 in FY 2021). Revenue: ₩1.22t (down 6.9% from FY 2021). Net income: ₩38.5b (down 47% from FY 2021). Profit margin: 3.2% (down from 5.5% in FY 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 07 April 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.0%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Nov 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from ₩1.25b to ₩1.23b. EPS estimate rose from ₩636 to ₩766. Net income forecast to shrink 22% next year vs 28% growth forecast for Electronic industry in South Korea . Consensus price target broadly unchanged at ₩11,429. Share price rose 5.0% to ₩8,430 over the past week. Price Target Changed • Sep 13
Price target decreased to ₩11,671 Down from ₩13,457, the current price target is an average from 7 analysts. New target price is 37% above last closing price of ₩8,490. Stock is down 15% over the past year. The company is forecast to post earnings per share of ₩633 for next year compared to ₩1,309 last year. Major Estimate Revision • Aug 06
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ₩1.35b to ₩1.25b. EPS estimate also fell from ₩868 per share to ₩656 per share. Net income forecast to shrink 35% next year vs 47% growth forecast for Electronic industry in South Korea . Consensus price target down from ₩13,457 to ₩12,743. Share price was steady at ₩8,780 over the past week. Price Target Changed • Aug 02
Price target decreased to ₩13,386 Down from ₩14,429, the current price target is an average from 7 analysts. New target price is 60% above last closing price of ₩8,370. Stock is down 20% over the past year. The company is forecast to post earnings per share of ₩868 for next year compared to ₩1,309 last year. Price Target Changed • Jun 23
Price target decreased to ₩13,714 Down from ₩14,929, the current price target is an average from 7 analysts. New target price is 62% above last closing price of ₩8,490. Stock is down 17% over the past year. The company is forecast to post earnings per share of ₩926 for next year compared to ₩1,309 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Jan 26
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from ₩1,101 to ₩1,237. Revenue forecast steady at ₩1.31b. Net income forecast to grow 6.6% next year vs 66% growth forecast for Electronic industry in South Korea. Consensus price target up from ₩13,178 to ₩14,013. Share price fell 5.0% to ₩12,300 over the past week. Upcoming Dividend • Dec 22
Upcoming dividend of ₩350 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 07 April 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 2.8%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.4%). Major Estimate Revision • Aug 05
Consensus EPS estimates fall to ₩866 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from ₩1.30b to ₩1.27b. EPS estimate also fell from ₩969 to ₩866. Net income forecast to grow 74% next year vs 104% growth forecast for Electronic industry in South Korea. Consensus price target broadly unchanged at ₩13,555. Share price was steady at ₩10,550 over the past week. Reported Earnings • Mar 21
Full year 2020 earnings released: EPS ₩431 (vs ₩1,186 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩1.18t (down 6.0% from FY 2019). Net income: ₩21.9b (down 64% from FY 2019). Profit margin: 1.9% (down from 4.9% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 17
New 90-day high: ₩12,100 The company is up 20% from its price of ₩10,050 on 19 November 2020. The South Korean market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 43% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩15,031 per share. Is New 90 Day High Low • Jan 13
New 90-day high: ₩11,450 The company is up 15% from its price of ₩9,950 on 15 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 37% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩15,138 per share. Is New 90 Day High Low • Dec 28
New 90-day high: ₩11,050 The company is up 9.0% from its price of ₩10,150 on 29 September 2020. The South Korean market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩14,699 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩250 Per Share Will be paid on the 7th of April to those who are registered shareholders by the 29th of December. The trailing yield of 3.5% is in the top quartile of South Korean dividend payers (2.6%), and it is higher than industry peers (0.5%).