New Risk • Jul 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 17% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 16% per year over the past 5 years. Tillkännagivande • Mar 05
SPG Co., Ltd., Annual General Meeting, Mar 26, 2026 SPG Co., Ltd., Annual General Meeting, Mar 26, 2026, at 09:00 Tokyo Standard Time. Location: auditorium, 13-30, songdogwahak-ro 16beon-gil, yeonsu-gu, incheon South Korea Declared Dividend • Dec 22
Dividend of ₩150 announced Shareholders will receive a dividend of ₩150. Ex-date: 29th December 2025 Payment date: 1st January 1970 Dividend yield will be 0.3%, which is about the same as the industry average. Payout Ratios Payout ratio: 42%. Cash payout ratio: 35%. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩38,350, the stock trades at a trailing P/E ratio of 71.1x. Average forward P/E is 25x in the Electrical industry in South Korea. Total returns to shareholders of 113% over the past three years. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩31,950, the stock trades at a trailing P/E ratio of 59.2x. Average forward P/E is 22x in the Electrical industry in South Korea. Total returns to shareholders of 76% over the past three years. Upcoming Dividend • Sep 24
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 01 October 2025. Payment date: 24 October 2025. Payout ratio is a comfortable 28% and the cash payout ratio is 82%. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (3.6%). In line with average of industry peers (0.6%). New Risk • Aug 30
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2013. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. This is currently the only risk that has been identified for the company. Reported Earnings • May 21
First quarter 2025 earnings released: EPS: ₩141 (vs ₩117 in 1Q 2024) First quarter 2025 results: EPS: ₩141 (up from ₩117 in 1Q 2024). Revenue: ₩93.3b (down 4.6% from 1Q 2024). Net income: ₩3.12b (up 20% from 1Q 2024). Profit margin: 3.3% (up from 2.7% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩23,100, the stock trades at a trailing P/E ratio of 39.1x. Average trailing P/E is 19x in the Electrical industry in South Korea. Total returns to shareholders of 58% over the past three years. Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: ₩591 (vs ₩496 in FY 2023) Full year 2024 results: EPS: ₩591 (up from ₩496 in FY 2023). Revenue: ₩388.5b (down 1.3% from FY 2023). Net income: ₩13.1b (up 19% from FY 2023). Profit margin: 3.4% (up from 2.8% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Tillkännagivande • Mar 05
SPG Co., Ltd., Annual General Meeting, Mar 26, 2025 SPG Co., Ltd., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 13-30, songdogwahak-ro 16beon-gil, yeonsu-gu, incheon South Korea Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩34,350, the stock trades at a trailing P/E ratio of 68.4x. Average forward P/E is 15x in the Electrical industry in South Korea. Total returns to shareholders of 189% over the past three years. New Risk • Jan 02
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 9.7% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩23,400, the stock trades at a trailing P/E ratio of 46.6x. Average forward P/E is 17x in the Electrical industry in South Korea. Total returns to shareholders of 87% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 08 April 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (0.6%). Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩18,010, the stock trades at a trailing P/E ratio of 35.8x. Average forward P/E is 15x in the Electrical industry in South Korea. Total returns to shareholders of 84% over the past three years. Declared Dividend • Nov 27
Dividend of ₩200 announced Shareholders will receive a dividend of ₩200. Ex-date: 27th December 2024 Payment date: 8th April 2025 Dividend yield will be 0.9%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 15% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has grown by 9.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩112 (vs ₩2.00 loss in 3Q 2023) Third quarter 2024 results: EPS: ₩112 (up from ₩2.00 loss in 3Q 2023). Revenue: ₩92.2b (down 5.5% from 3Q 2023). Net income: ₩2.49b (up ₩2.53b from 3Q 2023). Profit margin: 2.7% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩22,150, the stock trades at a trailing P/E ratio of 57x. Average forward P/E is 14x in the Electrical industry in South Korea. Total returns to shareholders of 97% over the past three years. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩25,050, the stock trades at a trailing P/E ratio of 61.1x. Average forward P/E is 18x in the Electrical industry in South Korea. Total returns to shareholders of 136% over the past three years. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₩18,990, the stock trades at a trailing P/E ratio of 46.3x. Average forward P/E is 18x in the Electrical industry in South Korea. Total returns to shareholders of 63% over the past three years. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩27,050, the stock trades at a trailing P/E ratio of 66x. Average forward P/E is 26x in the Electrical industry in South Korea. Total returns to shareholders of 132% over the past three years. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: ₩496 (vs ₩901 in FY 2022) Full year 2023 results: EPS: ₩496 (down from ₩901 in FY 2022). Revenue: ₩393.8b (down 11% from FY 2022). Net income: ₩11.0b (down 44% from FY 2022). Profit margin: 2.8% (down from 4.5% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 51% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share at 0.6% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 08 April 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.3%). Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩30,600, the stock trades at a trailing P/E ratio of 42.1x. Average trailing P/E is 17x in the Electrical industry in South Korea. Total returns to shareholders of 345% over the past three years. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩27,800, the stock trades at a trailing P/E ratio of 38.2x. Average trailing P/E is 18x in the Electrical industry in South Korea. Total returns to shareholders of 300% over the past three years. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩40,800, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 14x in the Electrical industry in South Korea. Total returns to shareholders of 567% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩41,850, the stock trades at a trailing P/E ratio of 57.5x. Average trailing P/E is 20x in the Electrical industry in South Korea. Total returns to shareholders of 565% over the past three years. New Risk • Aug 26
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: 4.0% Last year net profit margin: 6.1% 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 Profit margins are more than 30% lower than last year (4.0% net profit margin). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Reported Earnings • May 19
First quarter 2023 earnings released: EPS: ₩203 (vs ₩319 in 1Q 2022) First quarter 2023 results: EPS: ₩203 (down from ₩319 in 1Q 2022). Revenue: ₩97.9b (down 17% from 1Q 2022). Net income: ₩4.51b (down 35% from 1Q 2022). Profit margin: 4.6% (down from 5.9% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩31,700, the stock trades at a trailing P/E ratio of 35.7x. Average trailing P/E is 21x in the Electrical industry in South Korea. Total returns to shareholders of 475% over the past three years. Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: ₩901 (vs ₩1,092 in FY 2021) Full year 2022 results: EPS: ₩901 (down from ₩1,092 in FY 2021). Revenue: ₩440.5b (up 5.8% from FY 2021). Net income: ₩19.7b (down 14% from FY 2021). Profit margin: 4.5% (down from 5.5% 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 36% per year but the company’s share price has increased by 101% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩22,700, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 19x in the Electrical industry in South Korea. Total returns to shareholders of 356% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩250 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 07 April 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (0.9%). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩17,300, the stock trades at a trailing P/E ratio of 13.4x. Average forward P/E is 9x in the Electrical industry in South Korea. Total returns to shareholders of 136% over the past three years. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improved over the past week After last week's 30% share price gain to ₩20,550, the stock trades at a trailing P/E ratio of 16x. Average forward P/E is 11x in the Electrical industry in South Korea. Total returns to shareholders of 177% over the past three years. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improved over the past week After last week's 17% share price gain to ₩15,850, the stock trades at a trailing P/E ratio of 13.7x. Average forward P/E is 12x in the Electrical industry in South Korea. Total returns to shareholders of 108% over the past three years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩13,750, the stock trades at a trailing P/E ratio of 11.9x. Average forward P/E is 12x in the Electrical industry in South Korea. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improved over the past week After last week's 19% share price gain to ₩19,150, the stock trades at a trailing P/E ratio of 18.2x. Average forward P/E is 12x in the Electrical industry in South Korea. Total returns to shareholders of 154% over the past three years. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improved over the past week After last week's 18% share price gain to ₩13,300, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 19x in the Electrical industry in South Korea. Total returns to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 17% share price gain to ₩13,600, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 20x in the Electrical industry in South Korea. Total returns to shareholders of 108% 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: 07 April 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.7%). Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improved over the past week After last week's 18% share price gain to ₩11,350, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 26x in the Electrical industry in South Korea. Total returns to shareholders of 7.5% over the past three years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩8,960, the stock is trading at a trailing P/E ratio of 18.4x, down from the previous P/E ratio of 21.8x. This compares to an average P/E of 23x in the Electrical industry in South Korea. Total returns to shareholders over the past three years are 14%. Is New 90 Day High Low • Jan 21
New 90-day high: ₩10,000 The company is up 36% from its price of ₩7,330 on 23 October 2020. The South Korean market is up 31% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 26% over the same period. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 16% share price gain to ₩9,600, the stock is trading at a trailing P/E ratio of 19.7x, up from the previous P/E ratio of 17.1x. This compares to an average P/E of 25x in the Electrical industry in South Korea. Total returns to shareholders over the past three years are 41%. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 21% share price gain to ₩9,400, the stock is trading at a trailing P/E ratio of 19.3x, up from the previous P/E ratio of 16x. This compares to an average P/E of 24x in the Electrical industry in South Korea. Total returns to shareholders over the past three years are 42%. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩100.00 Per Share Will be paid on the 7th of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.3% is below the top quartile of South Korean dividend payers (2.6%), but is in line with industry peers (1.2%). Is New 90 Day High Low • Dec 21
New 90-day high: ₩7,940 The company is up 27% from its price of ₩6,230 on 22 September 2020. The South Korean market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: ₩7,870 The company is up 34% from its price of ₩5,870 on 20 August 2020. The South Korean market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 20% over the same period. Is New 90 Day High Low • Oct 08
New 90-day high: ₩7,320 The company is up 26% from its price of ₩5,790 on 10 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 41% over the same period.