Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩8,860, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 13x in the Software industry in South Korea. Total returns to shareholders of 86% over the past three years. Board Change • Apr 28
Less than half of directors are independent 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. 1 independent director (4 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: Minority of independent directors. Insufficient board refreshment. New Risk • Apr 09
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 203% Dividend yield: 8.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (203% cash payout ratio). Profit margins are more than 30% lower than last year (25% net profit margin). Market cap is less than US$100m (₩101.9b market cap, or US$68.8m). Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: ₩4,465 (vs ₩4,186 in FY 2024) Full year 2025 results: EPS: ₩4,465. Revenue: ₩28.7b (up 14% from FY 2024). Net income: ₩7.04b (down 22% from FY 2024). Profit margin: 25% (down from 36% in FY 2024). The decrease in margin was driven by higher expenses. Tillkännagivande • Mar 14
INFOvine.co.,Ltd., Annual General Meeting, Mar 27, 2026 INFOvine.co.,Ltd., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 24, yeoui-daero, yeongdeungpo-gu, seoul South Korea Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩72,200, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 263% over the past three years. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩85,500, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 308% over the past three years. New Risk • Feb 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 9.6% 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 Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (₩126.3b market cap, or US$87.1m). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩75,500, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 265% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩1,200 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 31 March 2026. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (3.6%). In line with average of industry peers (1.7%). Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₩79,900, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 290% over the past three years. Declared Dividend • Nov 08
Dividend of ₩1,200 announced Dividend of ₩1,200 is the same as last year. Ex-date: 29th December 2025 Payment date: 31st March 2026 Dividend yield will be 1.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 4.0% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 3.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Tillkännagivande • Nov 07
INFOvine.co.,Ltd. announces Annual dividend, payable on March 31, 2026 INFOvine.co.,Ltd. announced Annual dividend of KRW 1200.0000 per share payable on March 31, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩58,200, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 18x in the Software industry in South Korea. Total returns to shareholders of 74% over the past three years. New Risk • Jul 09
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 11% 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 High level of non-cash earnings (21% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (₩88.2b market cap, or US$64.1m). Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to ₩57,000, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 19x in the Software industry in South Korea. Total returns to shareholders of 117% over the past three years. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩43,450, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 95% over the past three years. New Risk • May 23
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risk Market cap is less than US$100m (₩60.9b market cap, or US$44.4m). Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩39,400, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 16x in the Software industry in South Korea. Total returns to shareholders of 92% over the past three years. New Risk • Apr 14
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 8.9% 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 Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (₩59.6b market cap, or US$42.0m). Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: ₩4,186 (vs ₩3,341 in FY 2023) Full year 2024 results: EPS: ₩4,186 (up from ₩3,341 in FY 2023). Revenue: ₩25.2b (up 11% from FY 2023). Net income: ₩8.97b (up 25% from FY 2023). Profit margin: 36% (up from 31% 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 17% per year whereas the company’s share price has increased by 14% per year. Tillkännagivande • Mar 14
INFOvine.co.,Ltd., Annual General Meeting, Mar 28, 2025 INFOvine.co.,Ltd., Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 24, yeoui-daero, yeongdeungpo-gu, seoul South Korea Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩36,000, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 15x in the Software industry in South Korea. Total returns to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩24,200, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 14x in the Software industry in South Korea. Total returns to shareholders of 19% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩900 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 02 April 2025. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.6%). New Risk • Dec 07
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2012. 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. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported September 2012 fiscal period end). High level of non-cash earnings (42% accrual ratio). Minor Risk Market cap is less than US$100m (₩42.0b market cap, or US$29.5m). Upcoming Dividend • Dec 20
Upcoming dividend of ₩900 per share at 4.2% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 01 April 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 4.2%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to ₩37,400, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 22x in the Software industry in South Korea. Total returns to shareholders of 114% over the past three years. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩26,600, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 19x in the Software industry in South Korea. Total returns to shareholders of 47% over the past three years. Reported Earnings • Mar 10
Full year 2022 earnings released: EPS: ₩2,806 (vs ₩2,663 in FY 2021) Full year 2022 results: EPS: ₩2,806 (up from ₩2,663 in FY 2021). Revenue: ₩20.9b (up 7.3% from FY 2021). Net income: ₩6.01b (up 5.4% from FY 2021). Profit margin: 29% (in line with FY 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Dec 21
Upcoming dividend of ₩900 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 31 March 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩22,400, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 13x in the Software industry in South Korea. Total returns to shareholders of 22% over the past three years. Buying Opportunity • Sep 02
Now 21% undervalued Over the last 90 days, the stock is up 27%. The fair value is estimated to be ₩38,309, 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 declined by 20%. Buying Opportunity • Aug 18
Now 23% undervalued Over the last 90 days, the stock is up 46%. The fair value is estimated to be ₩45,378, 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 declined by 19%. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improved over the past week After last week's 26% share price gain to ₩42,450, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 19x in the Software industry in South Korea. Total returns to shareholders of 134% over the past three years. Buying Opportunity • Jul 21
Now 23% undervalued Over the last 90 days, the stock is up 45%. The fair value is estimated to be ₩45,341, 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 declined by 19%. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improved over the past week After last week's 26% share price gain to ₩32,300, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 17x in the Software industry in South Korea. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improved over the past week After last week's 15% share price gain to ₩27,650, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 19x in the Software industry in South Korea. Total returns to shareholders of 38% over the past three years. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₩2,663 (down from ₩3,075 in FY 2020). Revenue: ₩19.5b (up 1.7% from FY 2020). Net income: ₩5.71b (down 14% from FY 2020). Profit margin: 29% (down from 35% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Dec 22
Upcoming dividend of ₩900 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 31 March 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (1.0%). Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improved over the past week After last week's 17% share price gain to ₩28,400, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 24x in the Software industry in South Korea. Total returns to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improved over the past week After last week's 20% share price gain to ₩27,700, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 24x in the Software industry in South Korea. Total returns to shareholders of 32% over the past three years. Reported Earnings • Mar 14
Full year 2020 earnings released: EPS ₩3,075 (vs ₩4,134 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ₩19.2b (flat on FY 2019). Net income: ₩6.62b (down 26% from FY 2019). Profit margin: 35% (down from 47% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 8% per year. Is New 90 Day High Low • Feb 18
New 90-day high: ₩21,000 The company is up 12% from its price of ₩18,700 on 20 November 2020. The South Korean market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 14% over the same period. Is New 90 Day High Low • Jan 22
New 90-day high: ₩20,550 The company is up 14% from its price of ₩18,000 on 23 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Software industry, which is also up 14% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: ₩19,650 The company is up 9.0% from its price of ₩17,950 on 07 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: ₩19,050 The company is up 2.0% from its price of ₩18,650 on 16 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is down 2.0% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: ₩18,900 The company is up 4.0% from its price of ₩18,150 on 28 August 2020. The South Korean market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is up 3.0% over the same period.