Buy Or Sell Opportunity • Apr 08
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 48% to ₩15,100. The fair value is estimated to be ₩12,479, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 24%. For the next 3 years, revenue is forecast to grow by 0.08% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. New Risk • Apr 03
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: 3.4% Last year net profit margin: 6.8% 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 (3.4% net profit margin). Buy Or Sell Opportunity • Mar 23
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 54% to ₩16,580. The fair value is estimated to be ₩13,583, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 21%. For the next 3 years, revenue is forecast to decline by 0.7% per annum. Earnings are forecast to grow by 11% per annum over the same time period. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩14,500, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Electronic industry in South Korea. Total returns to shareholders of 72% over the past three years. Announcement • Feb 28
Samyoung Electronics Co., Ltd, Annual General Meeting, Mar 27, 2026 Samyoung Electronics Co., Ltd, Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: auditorium, 47, sagimakgol-ro, jungwon-gu, gyeonggi-do, seongnam South Korea Buy Or Sell Opportunity • Dec 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to ₩10,490. The fair value is estimated to be ₩13,227, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 4.9% in 2 years. Earnings are forecast to grow by 34% in the next 2 years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 22 April 2026. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.9%). Buy Or Sell Opportunity • Dec 08
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at ₩10,520. The fair value is estimated to be ₩13,222, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 4.9% in 2 years. Earnings are forecast to grow by 34% in the next 2 years. Declared Dividend • Nov 08
Dividend of ₩300 announced Dividend of ₩300 is the same as last year. Ex-date: 29th December 2025 Payment date: 22nd April 2026 Dividend yield will be 2.9%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 3.1% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 42% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
Samyoung Electronics Co., Ltd announces Annual dividend, payable on April 22, 2026 Samyoung Electronics Co., Ltd announced Annual dividend of KRW 300.0000 per share payable on April 22, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Major Estimate Revision • May 21
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₩167.3m to ₩159.6m. EPS estimate rose from ₩715 to ₩804. Net income forecast to grow 45% next year vs 5.2% growth forecast for Electronic industry in South Korea. Consensus price target up from ₩13,000 to ₩15,000. Share price was steady at ₩10,680 over the past week. Reported Earnings • Mar 26
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ₩559 (down from ₩692 in FY 2023). Revenue: ₩163.0b (down 8.1% from FY 2023). Net income: ₩11.1b (down 20% from FY 2023). Profit margin: 6.8% (down from 7.8% in FY 2023). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 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 20% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Mar 06
Samyoung Electronics Co., Ltd, Annual General Meeting, Mar 28, 2025 Samyoung Electronics Co., Ltd, Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 47, sagimakgol-ro, jungwon-gu, gyeonggi-do, seongnam 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: 21 April 2025. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.0%). Declared Dividend • Nov 11
Dividend of ₩300 announced Shareholders will receive a dividend of ₩300. Ex-date: 27th December 2024 Payment date: 21st April 2025 Dividend yield will be 2.9%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 3.7% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 59% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 26
Samyoung Electronics Co., Ltd (KOSE:A005680) announces an Equity Buyback for KRW 10,000 million worth of its shares. Samyoung Electronics Co., Ltd (KOSE:A005680) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares. The purpose of the program is to enhance shareholder value and stabilize stock prices. The program will be valid until March 24, 2025. As of September 24, 2024, the company had no shares in treasury under the dividend capacity and no shares in treasury under other capacities. Major Estimate Revision • Jul 24
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩187.0m to ₩171.7m. EPS estimate also fell from ₩809 per share to ₩691 per share. Net income forecast to grow 27% next year vs 39% growth forecast for Electronic industry in South Korea. Consensus price target of ₩13,000 unchanged from last update. Share price rose 3.2% to ₩9,340 over the past week. Price Target Changed • Apr 05
Price target increased by 18% to ₩13,000 Up from ₩11,000, the current price target is provided by 1 analyst. New target price is 30% above last closing price of ₩10,020. Stock is up 7.7% over the past year. The company is forecast to post earnings per share of ₩809 for next year compared to ₩692 last year. Reported Earnings • Mar 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ₩692 (down from ₩938 in FY 2022). Revenue: ₩177.3b (down 22% from FY 2022). Net income: ₩13.8b (down 26% from FY 2022). Profit margin: 7.8% (down from 8.2% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 11% p.a. on average during the next 3 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 increased by 4% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩300 per share at 3.5% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 3.5%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.9%). Major Estimate Revision • Nov 17
Consensus EPS estimates increase by 13%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from ₩193.2m to ₩182.0m. EPS estimate rose from ₩696 to ₩784. Net income forecast to shrink 0.5% next year vs 14% growth forecast for Electronic industry in South Korea . Consensus price target down from ₩13,000 to ₩11,000. Share price was steady at ₩8,100 over the past week. Major Estimate Revision • Jul 14
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₩220.1m to ₩193.2m. EPS estimate fell from ₩847 to ₩696 per share. Net income forecast to shrink 22% next year vs 22% growth forecast for Electronic industry in South Korea . Consensus price target of ₩13,000 unchanged from last update. Share price was steady at ₩9,240 over the past week. Reported Earnings • Mar 22
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₩909 (up from ₩851 in FY 2021). Revenue: ₩227.8b (down 4.6% from FY 2021). Net income: ₩18.2b (up 6.7% from FY 2021). Profit margin: 8.0% (up from 7.1% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.1%. Earnings per share (EPS) also missed analyst estimates by 1.4%. Revenue is forecast to grow 9.5% 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 28% per year but the company’s share price has only increased by 13% 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 29% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.0%). Reported Earnings • May 19
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ₩300 (up from ₩253 in 1Q 2021). Revenue: ₩61.4b (up 8.1% from 1Q 2021). Net income: ₩6.00b (up 18% from 1Q 2021). Profit margin: 9.8% (in line with 1Q 2021). Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) missed analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 4.7%, compared to a 43% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Apr 07
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be ₩14,617, 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 7.7%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings is also forecast to grow by 6.7% per annum over the same time period. Reported Earnings • Mar 16
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ₩851 (up from ₩571 in FY 2020). Revenue: ₩238.9b (up 19% from FY 2020). Net income: ₩17.0b (up 49% from FY 2020). Profit margin: 7.1% (up from 5.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to stay flat compared to a 30% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Buying Opportunity • Jan 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ₩14,033, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.8% per annum over the last 3 years. Earnings per share has grown by 3.4% per annum over the last 3 years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩250 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 18 April 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.4%). Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ₩204 (vs ₩163 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩58.2b (up 12% from 3Q 2020). Net income: ₩4.09b (up 25% from 3Q 2020). Profit margin: 7.0% (up from 6.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jul 03
Consensus EPS estimates increase to ₩825 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from ₩208.6m to ₩221.7m. EPS estimate increased from ₩732 to ₩825 per share. Net income forecast to grow 28% next year vs 96% growth forecast for Electronic industry in South Korea. Consensus price target up from ₩15,000 to ₩18,000. Share price rose 2.2% to ₩13,900 over the past week. Reported Earnings • May 19
First quarter 2021 earnings released: EPS ₩253 (vs ₩166 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₩56.8b (up 20% from 1Q 2020). Net income: ₩5.06b (up 52% from 1Q 2020). Profit margin: 8.9% (up from 7.0% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Mar 12
Full year 2020 earnings released: EPS ₩571 (vs ₩428 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ₩200.6b (flat on FY 2019). Net income: ₩11.4b (up 34% from FY 2019). Profit margin: 5.7% (up from 4.3% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 5% per year. Announcement • Feb 19
Samyoung Electronics Co., Ltd, Annual General Meeting, Mar 19, 2021 Samyoung Electronics Co., Ltd, Annual General Meeting, Mar 19, 2021, at 09:00 Korea Standard Time. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 16% share price gain to ₩11,700, the stock is trading at a trailing P/E ratio of 21.2x, up from the previous P/E ratio of 18.2x. This compares to an average P/E of 28x in the Electronic industry in South Korea. Total return to shareholders over the past three years is a loss of 1.4%. Is New 90 Day High Low • Feb 04
New 90-day high: ₩11,800 The company is up 49% from its price of ₩7,940 on 06 November 2020. The South Korean market is up 27% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 42% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: ₩10,200 The company is up 27% from its price of ₩8,040 on 29 September 2020. The South Korean market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 23% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: ₩9,950 The company is up 22% from its price of ₩8,180 on 04 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 13% over the same period. Reported Earnings • Nov 19
Third quarter 2020 earnings released: EPS ₩163 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩51.9b (up 2.7% from 3Q 2019). Net income: ₩3.27b (up 17% from 3Q 2019). Profit margin: 6.3% (up from 5.5% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Nov 16
New 90-day high: ₩8,760 The company is up 5.0% from its price of ₩8,310 on 18 August 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 4.0% over the same period. Announcement • Sep 21
Samyoung Electronics Co., Ltd(KOSE:A005680) dropped from S&P Global BMI Index Samyoung Electronics Co., Ltd(KOSE:A005680) dropped from S&P Global BMI Index