Board Change • Aug 12
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. 10 experienced directors. No highly experienced directors. 2 independent directors (8 non-independent directors). Executive Director Seong-su Jang was the last director to join the board, commencing their role in 2023. 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 • Jul 28
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 13% 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 (13% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩25.2b market cap, or US$17.2m). Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to ₩867, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 6x in the Construction industry in South Korea. Total loss to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩699, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 6x in the Construction industry in South Korea. Total loss to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩633, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 6x in the Construction industry in South Korea. Total loss to shareholders of 44% over the past three years. Reported Earnings • Mar 21
Full year 2025 earnings released: EPS: ₩13.68 (vs ₩203 in FY 2024) Full year 2025 results: EPS: ₩13.68 (down from ₩203 in FY 2024). Revenue: ₩177.0b (down 13% from FY 2024). Net income: ₩455.2m (down 93% from FY 2024). Profit margin: 0.3% (down from 3.3% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Duyuru • Feb 27
EXA E&C Inc., Annual General Meeting, Mar 26, 2026 EXA E&C Inc., Annual General Meeting, Mar 26, 2026, at 10:00 Tokyo Standard Time. Location: conference room, guro-gu, seoul South Korea Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩797, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 9x in the Construction industry in South Korea. Total loss to shareholders of 41% over the past three years. Reported Earnings • Nov 19
Third quarter 2025 earnings released: ₩18.91 loss per share (vs ₩19.29 profit in 3Q 2024) Third quarter 2025 results: ₩18.91 loss per share (down from ₩19.29 profit in 3Q 2024). Revenue: ₩47.1b (down 8.2% from 3Q 2024). Net loss: ₩626.2m (down 196% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 19
Second quarter 2025 earnings released: ₩18.99 loss per share (vs ₩35.06 profit in 2Q 2024) Second quarter 2025 results: ₩18.99 loss per share (down from ₩35.06 profit in 2Q 2024). Revenue: ₩37.6b (down 8.2% from 2Q 2024). Net loss: ₩623.1m (down 153% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: ₩203 (vs ₩16.01 in FY 2023) Full year 2024 results: EPS: ₩203 (up from ₩16.01 in FY 2023). Revenue: ₩203.1b (up 17% from FY 2023). Net income: ₩6.75b (up ₩6.22b from FY 2023). Profit margin: 3.3% (up from 0.3% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Duyuru • Feb 28
EXA E&C Inc., Annual General Meeting, Mar 28, 2025 EXA E&C Inc., Annual General Meeting, Mar 28, 2025, at 10:00 Tokyo Standard Time. Location: conference room, guro-gu, seoul South Korea Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩660, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 9x in the Construction industry in South Korea. Total loss to shareholders of 67% over the past three years. Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: ₩27.54 (vs ₩208 in FY 2022) Full year 2023 results: EPS: ₩27.54 (down from ₩208 in FY 2022). Revenue: ₩179.9b (down 21% from FY 2022). Net income: ₩947.7m (down 86% from FY 2022). Profit margin: 0.5% (down from 3.0% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩1,057, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 7x in the Construction industry in South Korea. Total loss to shareholders of 26% over the past three years. New Risk • Aug 28
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: 0.7% Last year net profit margin: 5.5% 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 (0.7% net profit margin). Market cap is less than US$100m (₩34.5b market cap, or US$26.1m). New Risk • Jun 23
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 8.4% 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 (8.4% average weekly change). Market cap is less than US$100m (₩44.0b market cap, or US$33.6m). Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩1,380, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 8x in the Construction industry in South Korea. Total returns to shareholders of 13% over the past three years. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: ₩227 (vs ₩141 loss in FY 2021) Full year 2022 results: EPS: ₩227 (up from ₩141 loss in FY 2021). Revenue: ₩228.1b (up 3.3% from FY 2021). Net income: ₩7.54b (up ₩12.2b from FY 2021). Profit margin: 3.3% (up from net loss in FY 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 9 experienced directors. No highly experienced directors. 2 independent directors (7 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. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improved over the past week After last week's 15% share price gain to ₩1,355, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 4x in the Construction industry in South Korea. Total loss to shareholders of 28% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩1,115, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 5x in the Construction industry in South Korea. Total loss to shareholders of 43% 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 19% share price decline to ₩996, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 6x in the Construction industry in South Korea. Total loss to shareholders of 35% over the past three years. Board Change • Apr 27
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. 9 experienced directors. No highly experienced directors. 2 independent directors (7 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. Reported Earnings • Mar 20
Full year 2020 earnings released: ₩23.00 loss per share (vs ₩11.00 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: ₩234.3b (down 5.2% from FY 2019). Net loss: ₩766.4m (loss widened 110% from FY 2019). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Is New 90 Day High Low • Jan 18
New 90-day low: ₩1,380 The company is down 11% from its price of ₩1,545 on 20 October 2020. The South Korean market is up 30% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 32% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: ₩1,685 The company is up 12% from its price of ₩1,510 on 04 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is up 7.0% over the same period.