New Risk • Jun 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩149.7b (US$98.7m) 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: Major Risk Earnings have declined by 6.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩149.7b market cap, or US$98.7m). Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: ₩1,745 (vs ₩1,372 in FY 2024) Full year 2025 results: EPS: ₩1,745 (up from ₩1,372 in FY 2024). Revenue: ₩327.6b (up 4.4% from FY 2024). Net income: ₩17.0b (up 21% from FY 2024). Profit margin: 5.2% (up from 4.5% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% 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 • Mar 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩16,700, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total loss to shareholders of 26% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 13 April 2026. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.9%). Declared Dividend • Nov 08
Dividend of ₩300 announced Dividend of ₩300 is the same as last year. Ex-date: 29th December 2025 Payment date: 13th April 2026 Dividend yield will be 1.7%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but not covered by cash flows (135% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. The company's earnings per share (EPS) would need to decline by 66% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.4% EPS decline seen over the last 5 years. Announcement • Nov 07
Intelligent Digital Integrated Security Co., Ltd. announces Annual dividend, payable on April 13, 2026 Intelligent Digital Integrated Security Co., Ltd. announced Annual dividend of KRW 300.0000 per share payable on April 13, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩17,510, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 15x in the Electronic industry in South Korea. Total loss to shareholders of 19% over the past three years. New Risk • Mar 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% 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 (4.5% net profit margin). Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: ₩1,372 (vs ₩1,951 in FY 2023) Full year 2024 results: EPS: ₩1,372 (down from ₩1,951 in FY 2023). Revenue: ₩313.6b (up 13% from FY 2023). Net income: ₩14.1b (down 30% from FY 2023). Profit margin: 4.5% (down from 7.2% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 13% per year. Announcement • Feb 21
Intelligent Digital Integrated Security Co., Ltd., Annual General Meeting, Mar 26, 2025 Intelligent Digital Integrated Security Co., Ltd., Annual General Meeting, Mar 26, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 8-10, techno 3-ro, yuseong-gu, daejeon 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: 14 April 2025. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.0%). New Risk • Nov 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩138.7b (US$99.3m) 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: ₩1,951 (vs ₩1,177 in FY 2022) Full year 2023 results: EPS: ₩1,951 (up from ₩1,177 in FY 2022). Revenue: ₩278.2b (up 3.1% from FY 2022). Net income: ₩20.2b (up 66% from FY 2022). Profit margin: 7.2% (up from 4.5% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩350 per share at 1.6% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 18 April 2024. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.9%). Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩29,900, the stock trades at a trailing P/E ratio of 32.6x. Average trailing P/E is 16x in the Electronic industry in South Korea. Total returns to shareholders of 2.6% over the past three years. Announcement • Aug 20
Intelligent Digital Integrated Security Co., Ltd. (KOSDAQ : A143160) completed the acquisition of Costar Technologies, Inc. (OTCPK : CSTI) Intelligent Digital Integrated Security Co., Ltd. (KOSDAQ : A143160) entered into an agreement to acquire Costar Technologies, Inc. (OTCPK : CSTI) on $23.2 million March 23, 2023. Under the agreement, IDIS will pay approximately $23.2 million, subject to customary purchase price adjustments, inclusive of approximately $13.0 million to retire Costar's bank debt and with the remainder going to the holders of Costar common stock and vested options after payment of transaction expenses. The acquisition will be funded by existing cash reserves of IDIS. IDIS will continue using the Costar name, with Costar becoming a wholly owned subsidiary of IDIS. The present Costar management team and employees are expected to join IDIS following the closing of the acquisition. Scott Switzer will continue in his role as Chief Executive Officer. The agreement has been unanimously approved by the boards of directors of each of IDIS and Costar. Completion of the merger will be subject to approval by the stockholders of Costar. The merger is expected to close during the second quarter of 2023. As of may 30, 2023 transaction is expected to close on June 13, 2023. As on June 16, 2023, expected completion date has been extended to September 26, 2023.NMC Resource Corporation acted as financial advisor to IDIS and Imperial Capital acted as financial advisor to Costar. McMillan LLP acted as legal advisors to IDIS and DLA Piper acted as legal advisor to Costar.Intelligent Digital Integrated Security Co., Ltd. (KOSDAQ : A143160) completed the acquisition of Costar Technologies, Inc. (OTCPK : CSTI) on August 18, 2023. Following the acquisition, Costar will continue to operate as a wholly-owned subsidiary of IDIS and Costar Shares will be delisted from the OTC Markets Group. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩26,600, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 15x in the Electronic industry in South Korea. Total returns to shareholders of 54% over the past three years. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: ₩1,177 (vs ₩2,246 in FY 2021) Full year 2022 results: EPS: ₩1,177 (down from ₩2,246 in FY 2021). Revenue: ₩269.9b (up 32% from FY 2021). Net income: ₩12.2b (down 48% from FY 2021). Profit margin: 4.5% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 19% 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: 17 April 2023. Payout ratio is a comfortable 12% and the cash payout ratio is 82%. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.0%). Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: ₩2,246 (up from ₩1,086 in FY 2020). Revenue: ₩204.1b (up 35% from FY 2020). Net income: ₩23.2b (up 107% from FY 2020). Profit margin: 11% (up from 7.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.4%. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 22
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.4%). Reported Earnings • Mar 24
Full year 2020 earnings released: EPS ₩1,086 (vs ₩185 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩151.0b (up 35% from FY 2019). Net income: ₩11.2b (up 487% from FY 2019). Profit margin: 7.4% (up from 1.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Jan 19
New 90-day high: ₩29,450 The company is up 10.0% from its price of ₩26,800 on 21 October 2020. The South Korean market is up 26% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 38% over the same period. Is New 90 Day High Low • Oct 14
New 90-day low: ₩27,750 The company is down 23% from its price of ₩36,200 on 16 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 10.0% over the same period. 