Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩2,890, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 16x in the Electronic industry in South Korea. Total returns to shareholders of 12% over the past three years. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: ₩904 (vs ₩886 in FY 2024) Full year 2025 results: EPS: ₩904 (up from ₩886 in FY 2024). Revenue: ₩295.2b (down 6.2% from FY 2024). Net income: ₩19.5b (up 2.0% from FY 2024). Profit margin: 6.6% (up from 6.1% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Mar 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.4% to ₩2,150. The fair value is estimated to be ₩2,730, 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 82%. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩2,125, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total loss to shareholders of 12% over the past three years. Announcement • Mar 04
CAP Co.,Ltd., Annual General Meeting, Mar 19, 2026 CAP Co.,Ltd., Annual General Meeting, Mar 19, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 69, cheongwonsandan 1-gil, mado-myeon, gyeonggi-do, hwaseong South Korea Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: ₩215 (vs ₩226 in 3Q 2024) Third quarter 2025 results: EPS: ₩215 (down from ₩226 in 3Q 2024). Revenue: ₩65.3b (down 22% from 3Q 2024). Net income: ₩4.62b (down 4.9% from 3Q 2024). Profit margin: 7.1% (up from 5.8% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩2,420, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total returns to shareholders of 14% over the past three years. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ₩129 (vs ₩385 in 2Q 2024) Second quarter 2025 results: EPS: ₩129 (down from ₩385 in 2Q 2024). Revenue: ₩74.5b (up 2.4% from 2Q 2024). Net income: ₩2.79b (down 66% from 2Q 2024). Profit margin: 3.7% (down from 11% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: ₩886 (vs ₩153 in FY 2023) Full year 2024 results: EPS: ₩886 (up from ₩153 in FY 2023). Revenue: ₩314.9b (up 34% from FY 2023). Net income: ₩19.1b (up 477% from FY 2023). Profit margin: 6.1% (up from 1.4% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Mar 05
NPD Co., Ltd, Annual General Meeting, Mar 20, 2025 NPD Co., Ltd, Annual General Meeting, Mar 20, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 515, sihwa venture-ro, danwon-gu, gyeonggi-do, ansan South Korea Buy Or Sell Opportunity • Feb 21
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.6% to ₩2,550. The fair value is estimated to be ₩3,351, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.7% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Nov 20
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to ₩2,765. The fair value is estimated to be ₩3,582, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.7% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ₩226 (vs ₩110 in 3Q 2023) Third quarter 2024 results: EPS: ₩226 (up from ₩110 in 3Q 2023). Revenue: ₩83.3b (up 41% from 3Q 2023). Net income: ₩4.86b (up 105% from 3Q 2023). Profit margin: 5.8% (up from 4.0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: ₩385 (vs ₩66.00 loss in 2Q 2023) Second quarter 2024 results: EPS: ₩385 (up from ₩66.00 loss in 2Q 2023). Revenue: ₩72.7b (up 26% from 2Q 2023). Net income: ₩8.28b (up ₩9.71b from 2Q 2023). Profit margin: 11% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₩3,125, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 13x in the Electronic industry in South Korea. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩3,165, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 16x in the Electronic industry in South Korea. Total loss to shareholders of 22% over the past three years. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩2,990, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 15x in the Electronic industry in South Korea. Total loss to shareholders of 27% over the past three years. Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: ₩153 (vs ₩67.00 loss in FY 2022) Full year 2023 results: EPS: ₩153 (up from ₩67.00 loss in FY 2022). Revenue: ₩235.7b (down 26% from FY 2022). Net income: ₩3.30b (up ₩4.74b from FY 2022). Profit margin: 1.4% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩110 (vs ₩124 in 3Q 2022) Third quarter 2023 results: EPS: ₩110 (down from ₩124 in 3Q 2022). Revenue: ₩59.3b (down 8.0% from 3Q 2022). Net income: ₩2.38b (down 11% from 3Q 2022). Profit margin: 4.0% (down from 4.2% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. New Risk • Nov 06
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 Earnings have declined by 70% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (₩48.5b market cap, or US$37.4m). Buying Opportunity • May 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be ₩2,593, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 19
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: ₩67.00 loss per share (down from ₩175 profit in FY 2021). Revenue: ₩316.1b (up 3.7% from FY 2021). Net loss: ₩1.43b (down 138% from profit in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 47% After last week's 47% share price gain to ₩2,990, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Electronic industry in South Korea. Total returns to shareholders of 1.4% over the past year. Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ₩175 (up from ₩247 loss in FY 2020). Revenue: ₩304.9b (up 31% from FY 2020). Net income: ₩3.77b (up ₩8.75b from FY 2020). Profit margin: 1.2% (up from net loss in FY 2020). Revenue exceeded analyst estimates by 8.9%. Over the next year, revenue is forecast to grow 4.9%, compared to a 28% growth forecast for the industry in South Korea. Is New 90 Day High Low • Feb 26
New 90-day low: ₩3,860 The company is down 7.0% from its price of ₩4,160 on 27 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 23% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: ₩4,465 The company is up 10.0% from its price of ₩4,045 on 08 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 28% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: ₩4,405 The company is up 5.0% from its price of ₩4,200 on 18 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 14% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: ₩3,675 The company is down 17% from its price of ₩4,415 on 28 July 2020. The South Korean market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 5.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: ₩3,760 The company is down 20% from its price of ₩4,720 on 26 June 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 8.0% over the same period.