Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩21,500, the stock trades at a trailing P/E ratio of 35.3x. Average trailing P/E is 12x in the Electronic industry in South Korea. Total returns to shareholders of 294% over the past three years. Reported Earnings • Mar 24
Full year 2025 earnings released: EPS: ₩103 (vs ₩644 in FY 2024) Full year 2025 results: EPS: ₩103 (down from ₩644 in FY 2024). Revenue: ₩1.38t (up 9.3% from FY 2024). Net income: ₩3.54b (down 84% from FY 2024). Profit margin: 0.3% (down from 1.8% in FY 2024). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Declared Dividend • Mar 11
Dividend increased to ₩1,155 Dividend of ₩1,155 is 131% higher than last year. Ex-date: 30th March 2026 Payment date: 1st January 1970 Dividend yield will be 9.3%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is not covered by earnings (166% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 85% to bring the payout ratio under control. However, EPS has declined by 21% over the last 5 years so the company would need to reverse this trend. Announcement • Mar 10
Daeduck Co.,Ltd., Annual General Meeting, Mar 27, 2026 Daeduck Co.,Ltd., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: auditorium, 335, somanggongwon-ro, gyeonggi-do, siheung South Korea 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 ₩10,550, the stock trades at a trailing P/E ratio of 35.4x. Average trailing P/E is 17x in the Electronic industry in South Korea. Total returns to shareholders of 73% over the past three years. New Risk • Aug 20
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: 0.5% Last year net profit margin: 1.2% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 289% Paying a dividend despite having no free cash flows. Earnings have declined by 43% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). New Risk • May 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 55% 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: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (117% payout ratio). Large one-off items impacting financial results. Announcement • Mar 30
Daeduck Co.,Ltd. (KOSE:A008060) announces an Equity Buyback for 3,351,955 shares, for KRW 24,000 million. Daeduck Co.,Ltd. (KOSE:A008060) announces a share repurchases program. Under the program, the company will repurchase up to 3,351,955 shares , for KRW 24,000 million worth of its shares, pursuant to a contract with NH Investments and Securities Co. Ltd. The shares will be repurchases at a price of KRW 7, 160 per share. The purpose of the program is to enhance the shareholder value through stock burn. The program will expire on April 10, 2026. Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: ₩644 (vs ₩364 in FY 2023) Full year 2024 results: EPS: ₩644 (up from ₩364 in FY 2023). Revenue: ₩1.27t (flat on FY 2023). Net income: ₩22.6b (up 77% from FY 2023). Profit margin: 1.8% (up from 1.0% in FY 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 26
Dividend increased to ₩500 Dividend of ₩500 is 25% higher than last year. Ex-date: 28th March 2025 Payment date: 1st January 1970 Dividend yield will be 7.0%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio). However, it is well covered by cash flows (12% 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 grow by 13% to bring the payout ratio under control. However, EPS has declined by 48% over the last 5 years so the company would need to reverse this trend. Announcement • Feb 25
Daeduck Co.,Ltd., Annual General Meeting, Mar 28, 2025 Daeduck Co.,Ltd., Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 335, somanggongwon-ro, gyeonggi-do, siheung South Korea Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩82.00 (vs ₩103 in 3Q 2023) Third quarter 2024 results: EPS: ₩82.00 (down from ₩103 in 3Q 2023). Revenue: ₩318.7b (down 5.3% from 3Q 2023). Net income: ₩2.87b (down 21% from 3Q 2023). Profit margin: 0.9% (down from 1.1% in 3Q 2023). The decrease in margin was driven by lower revenue. 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 6% per year. Price Target Changed • Nov 01
Price target decreased by 33% to ₩25,000 Down from ₩37,516, the current price target is provided by 1 analyst. New target price is 313% above last closing price of ₩6,050. Stock is down 2.3% over the past year. The company posted earnings per share of ₩530 last year. Upcoming Dividend • Dec 21
Upcoming dividend of ₩400 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 11 April 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 6.0%. 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 There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Outside Director Seung Boo Jung is the most experienced director on the board, commencing their role in 2020. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Outside Director Seung Boo Jung is the most experienced director on the board, commencing their role in 2020. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Upcoming Dividend • Dec 22
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 13 April 2022. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 10%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.4%). Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS ₩193 (vs ₩2,777 in 3Q 2020) The company reported a decent third quarter result with improved revenues, although earnings and profit margins were weaker. Third quarter 2021 results: Revenue: ₩353.4b (up ₩352.0b from 3Q 2020). Net income: ₩6.80b (down 92% from 3Q 2020). Profit margin: 1.9% (down from 5,563% in 3Q 2020). The decrease in margin was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 29% share price gain to ₩9,250, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 24x in the Electronic industry in South Korea. Total returns to shareholders of 123% over the past three years. Is New 90 Day High Low • Mar 10
New 90-day low: ₩6,640 The company is down 2.0% from its price of ₩6,770 on 10 December 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 12% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: ₩7,210 The company is up 15% from its price of ₩6,290 on 14 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 34% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩300 Per Share Will be paid on the 10th of April to those who are registered shareholders by the 29th of December. The trailing yield of 12% is in the top quartile of South Korean dividend payers (2.6%), and it is higher than industry peers (0.5%). Is New 90 Day High Low • Dec 09
New 90-day high: ₩6,610 The company is up 1.0% from its price of ₩6,530 on 10 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 12% over the same period.