Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₩3,390, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 13x in the Electronic industry in South Korea. Total loss to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩4,905, the stock trades at a trailing P/E ratio of 63.9x. Average trailing P/E is 18x in the Electronic industry in South Korea. Total loss to shareholders of 12% over the past three years. Announcement • Mar 06
Ymc Co., Ltd., Annual General Meeting, Mar 23, 2026 Ymc Co., Ltd., Annual General Meeting, Mar 23, 2026, at 08:30 Tokyo Standard Time. Location: conference room, 154-25, asanvalleyjungang-ro, dunpo-myeon, chungcheongnam-do, asan South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩3,375, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total loss to shareholders of 39% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩75.00 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 15 April 2026. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.9%). New Risk • Nov 26
New major risk - Revenue and earnings growth Earnings have declined by 5.3% 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 5.3% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. 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 (₩57.2b market cap, or US$39.1m). Declared Dividend • Nov 08
Dividend of ₩75.00 announced Dividend of ₩75.00 is the same as last year. Ex-date: 29th December 2025 Payment date: 15th April 2026 Dividend yield will be 2.3%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (341% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 56% to shift the payout ratio to a potentially unsustainable range, which is more than the 6.1% EPS decline seen over the last 5 years. Announcement • Nov 07
Ymc Co., Ltd. announces Annual dividend, payable on April 15, 2026 Ymc Co., Ltd. announced Annual dividend of KRW 75.0000 per share payable on April 15, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: ₩366 (vs ₩752 in FY 2023) Full year 2024 results: EPS: ₩366 (down from ₩752 in FY 2023). Revenue: ₩167.7b (down 18% from FY 2023). Net income: ₩6.76b (down 51% from FY 2023). Profit margin: 4.0% (down from 6.7% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 20% per year. Announcement • Mar 08
Ymc Co., Ltd., Annual General Meeting, Mar 24, 2025 Ymc Co., Ltd., Annual General Meeting, Mar 24, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 154-25, asanvalleyjungang-ro, dunpo-myeon, chungcheongnam-do, asan South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 16 April 2025. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 6.2%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.0%). New Risk • Dec 16
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. Market cap is less than US$100m (₩60.1b market cap, or US$41.9m). Buy Or Sell Opportunity • Oct 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.4% to ₩4,175. The fair value is estimated to be ₩3,439, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has grown by 13%. Buy Or Sell Opportunity • Sep 28
Now 22% overvalued Over the last 90 days, the stock has fallen 4.6% to ₩4,215. The fair value is estimated to be ₩3,445, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has grown by 13%. Announcement • Sep 02
Ymc Co., Ltd. (KOSDAQ:A155650) announces an Equity Buyback for KRW 2,000 million worth of its shares. Ymc Co., Ltd. (KOSDAQ:A155650) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares pursuant to a contract with Mirae Asset Securities. The purpose of the program is to increase shareholder value and to stabilize stock price. The program will expire on September 1, 2025. As of September 1, 2024, the company had 1,265,046 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. New Risk • May 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: 5.7% Last year net profit margin: 8.5% 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 High level of non-cash earnings (33% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.7% net profit margin). Market cap is less than US$100m (₩87.9b market cap, or US$64.6m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩5,810, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 15x in the Electronic industry in South Korea. Total loss to shareholders of 31% over the past three years. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: ₩752 (vs ₩1,041 in FY 2022) Full year 2023 results: EPS: ₩752 (down from ₩1,041 in FY 2022). Revenue: ₩204.6b (down 13% from FY 2022). Net income: ₩13.7b (down 29% from FY 2022). Profit margin: 6.7% (down from 8.2% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Mar 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% 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: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Market cap is less than US$100m (₩92.3b market cap, or US$69.1m). Upcoming Dividend • Dec 20
Upcoming dividend of ₩250 per share at 4.3% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 4.3%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.9%). New Risk • Jul 13
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 8.7% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.7% average weekly change). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩7,680, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Electronic industry in South Korea. Total loss to shareholders of 29% over the past three years. Reported Earnings • May 17
First quarter 2023 earnings released: EPS: ₩257 (vs ₩185 in 1Q 2022) First quarter 2023 results: EPS: ₩257 (up from ₩185 in 1Q 2022). Revenue: ₩53.3b (up 11% from 1Q 2022). Net income: ₩4.68b (up 35% from 1Q 2022). Profit margin: 8.8% (up from 7.3% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 76% 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 58% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 14
Full year 2022 earnings released: EPS: ₩1,041 (vs ₩560 in FY 2021) Full year 2022 results: EPS: ₩1,041 (up from ₩560 in FY 2021). Revenue: ₩235.4b (up 31% from FY 2021). Net income: ₩19.4b (up 85% from FY 2021). Profit margin: 8.2% (up from 5.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 70% 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 66% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 21
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 20 April 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.0%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ₩270 (vs ₩205 in 3Q 2021) Third quarter 2022 results: EPS: ₩270 (up from ₩205 in 3Q 2021). Revenue: ₩55.9b (up 16% from 3Q 2021). Net income: ₩5.05b (up 121% from 3Q 2021). Profit margin: 9.0% (up from 4.7% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Sep 14
Ymc Co., Ltd. (KOSDAQ:A155650) announces an Equity Buyback for KRW 3,000 million worth of its shares. Ymc Co., Ltd. (KOSDAQ:A155650) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares pursuant to a contract with Mirae Asset Securities. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on March 13, 2023. As of September 13, 2022, the company had 1,267,220 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩6,150, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 13x in the Electronic industry in South Korea. Total returns to shareholders of 2.0% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 20 April 2022. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.4%). Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩6,800, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total loss to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Market pulls back on stock over the past week After last week's 16% share price decline to ₩9,290, the stock is trading at a trailing P/E ratio of 26.4x, down from the previous P/E ratio of 31.4x. This compares to an average P/E of 25x in the Electronic industry in South Korea. Total return to shareholders over the past three years is a loss of 35%. Valuation Update With 7 Day Price Move • Nov 17
Market bids up stock over the past week After last week's 19% share price gain to ₩9,840, the stock is trading at a trailing P/E ratio of 36.5x, up from the previous P/E ratio of 30.8x. This compares to an average P/E of 22x in the Electronic industry in South Korea. Total return to shareholders over the past three years is a loss of 25%. Valuation Update With 7 Day Price Move • Oct 21
Market pulls back on stock over the past week After last week's 20% share price decline to ₩8,600, the stock is trading at a trailing P/E ratio of 31.9x, down from the previous P/E ratio of 39.9x. This compares to an average P/E of 22x in the Electronic industry in South Korea. Total return to shareholders over the past three years is a loss of 22%. Is New 90 Day High Low • Oct 19
New 90-day low: ₩9,990 The company is down 13% from its price of ₩11,450 on 21 July 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Oct 19
Market pulls back on stock over the past week After last week's 16% share price decline to ₩9,990, the stock is trading at a trailing P/E ratio of 37.1x, down from the previous P/E ratio of 44.2x. This compares to an average P/E of 23x in the Electronic industry in South Korea. Total return to shareholders over the past three years is a loss of 10%.