Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩40,950, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 31x in the Electrical industry in South Korea. Total returns to shareholders of 296% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩27,081 per share. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩53,000, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 35x in the Electrical industry in South Korea. Total returns to shareholders of 513% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩24,977 per share. New Risk • Apr 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 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. This is currently the only risk that has been identified for the company. 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 ₩44,200, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 26x in the Electrical industry in South Korea. Total returns to shareholders of 384% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩34,703 per share. Buy Or Sell Opportunity • Apr 03
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 146% to ₩40,650. The fair value is estimated to be ₩32,588, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to grow by 37% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩37,150, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 23x in the Electrical industry in South Korea. Total returns to shareholders of 331% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩32,622 per share. Duyuru • Mar 12
VITZROCELL Co.,Ltd., Annual General Meeting, Mar 25, 2026 VITZROCELL Co.,Ltd., Annual General Meeting, Mar 25, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 70, indeoseupakeu-ro, hapdeok-eup, chungcheongnam-do, dangjin South Korea Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩22,100, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 22x in the Electrical industry in South Korea. Total returns to shareholders of 210% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩35,242 per share. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩20,200, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 23x in the Electrical industry in South Korea. Total returns to shareholders of 168% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩26,372 per share. New Risk • Dec 18
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 8.3% 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 01
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩32,750, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 25x in the Electrical industry in South Korea. Total returns to shareholders of 156% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩53,318 per share. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ₩704 (vs ₩366 in 3Q 2024) Third quarter 2025 results: EPS: ₩704 (up from ₩366 in 3Q 2024). Revenue: ₩55.3b (up 13% from 3Q 2024). Net income: ₩15.8b (up 94% from 3Q 2024). Profit margin: 29% (up from 17% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 14% 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 increased by 25% per year whereas the company’s share price has increased by 27% per year. Duyuru • Sep 11
VITZROCELL Co.,Ltd. (KOSDAQ:A082920) agreed to acquire Innova Power Solutions from JL INVESTMENTS LTD. for KRW 33.6 billion. VITZROCELL Co.,Ltd. (KOSDAQ:A082920) agreed to acquire Innova Power Solutions from JL INVESTMENTS LTD. for KRW 33.6 billion on September 9, 2025. A cash consideration of KRW 33.56 billion will be paid by VITZROCELL Co.,Ltd. As part of consideration, KRW 33.56 billion is paid towards common equity of Innova Power Solutions.
For the period ending December 31, 2024, Innova Power Solutions reported total revenue of KRW 26.77 billion and net income of KRW 4.69 billion. As of December 31, 2024, Innova Power Solutions reported total assets of KRW 23.55 billion and total common equity of KRW 17.35 billion.
The expected completion of the transaction is October 1, 2025. Buy Or Sell Opportunity • Aug 19
Now 21% undervalued Over the last 90 days, the stock has risen 1.7% to ₩29,500. The fair value is estimated to be ₩37,325, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 31% in the next 2 years. Reported Earnings • Aug 16
Second quarter 2025 earnings released: EPS: ₩452 (vs ₩567 in 2Q 2024) Second quarter 2025 results: EPS: ₩452 (down from ₩567 in 2Q 2024). Revenue: ₩56.5b (up 4.3% from 2Q 2024). Net income: ₩10.2b (down 19% from 2Q 2024). Profit margin: 18% (down from 23% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% 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 increased by 27% per year whereas the company’s share price has increased by 31% per year. Buy Or Sell Opportunity • Jun 24
Now 20% undervalued Over the last 90 days, the stock has risen 15% to ₩29,000. The fair value is estimated to be ₩36,448, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. Reported Earnings • Mar 22
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₩2,300 (up from ₩1,667 in FY 2023). Revenue: ₩210.8b (up 20% from FY 2023). Net income: ₩51.3b (up 42% from FY 2023). Profit margin: 24% (up from 21% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 7.0% 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 increased by 31% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. New Risk • Mar 21
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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Mar 20
Now 23% undervalued Over the last 90 days, the stock has risen 25% to ₩25,650. The fair value is estimated to be ₩33,362, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Duyuru • Mar 13
VITZROCELL Co.,Ltd., Annual General Meeting, Mar 26, 2025 VITZROCELL Co.,Ltd., Annual General Meeting, Mar 26, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 70, indeoseupakeu-ro, hapdeok-eup, chungcheongnam-do, dangjin South Korea Buy Or Sell Opportunity • Feb 26
Now 22% undervalued Over the last 90 days, the stock has risen 30% to ₩26,600. The fair value is estimated to be ₩33,975, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩24,450, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Electrical industry in South Korea. Total returns to shareholders of 79% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩25,798 per share. Buy Or Sell Opportunity • Dec 24
Now 21% undervalued Over the last 90 days, the stock has risen 12% to ₩20,500. The fair value is estimated to be ₩26,002, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Buy Or Sell Opportunity • Nov 20
Now 22% undervalued Over the last 90 days, the stock has risen 6.6% to ₩20,500. The fair value is estimated to be ₩26,167, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: ₩366 (vs ₩337 in 3Q 2023) Third quarter 2024 results: EPS: ₩366 (up from ₩337 in 3Q 2023). Revenue: ₩48.8b (up 11% from 3Q 2023). Net income: ₩8.14b (up 11% from 3Q 2023). Profit margin: 17% (in line with 3Q 2023). Revenue is forecast to grow 11% 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 increased by 30% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩21,050, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Electrical industry in South Korea. Total returns to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩23,200 per share. Buy Or Sell Opportunity • Nov 05
Now 20% undervalued Over the last 90 days, the stock has risen 4.6% to ₩18,680. The fair value is estimated to be ₩23,435, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 35%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Buy Or Sell Opportunity • Sep 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to ₩18,700. The fair value is estimated to be ₩23,472, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 35%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Buy Or Sell Opportunity • Sep 05
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to ₩18,140. The fair value is estimated to be ₩23,674, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 35%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: ₩567 (vs ₩806 in 2Q 2023) Second quarter 2024 results: EPS: ₩567 (down from ₩806 in 2Q 2023). Revenue: ₩54.2b (up 8.7% from 2Q 2023). Net income: ₩12.6b (down 27% from 2Q 2023). Profit margin: 23% (down from 35% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 01
Now 19% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to ₩21,350. The fair value is estimated to be ₩17,914, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 39%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Buy Or Sell Opportunity • Jun 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ₩21,100. The fair value is estimated to be ₩17,425, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 39%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 14% in the next 2 years. Buy Or Sell Opportunity • May 31
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 25% to ₩21,300. The fair value is estimated to be ₩17,273, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 39%. Buy Or Sell Opportunity • Apr 24
Now 21% undervalued Over the last 90 days, the stock has risen 5.8% to ₩17,390. The fair value is estimated to be ₩22,119, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 38%. Revenue is forecast to grow by 59% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Buy Or Sell Opportunity • Apr 09
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at ₩17,490. The fair value is estimated to be ₩22,024, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 38%. Revenue is forecast to grow by 59% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Reported Earnings • Mar 26
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ₩1,667 (up from ₩1,089 in FY 2022). Revenue: ₩176.2b (up 25% from FY 2022). Net income: ₩36.1b (up 56% from FY 2022). Profit margin: 21% (up from 16% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.0%. Earnings per share (EPS) also missed analyst estimates by 9.8%. Revenue is forecast to grow 23% 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 increased by 38% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 20
Upcoming dividend of ₩200 per share at 1.2% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 11 April 2024. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (0.3%). Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩337 (vs ₩532 in 3Q 2022) Third quarter 2023 results: EPS: ₩337 (down from ₩532 in 3Q 2022). Revenue: ₩44.1b (up 29% from 3Q 2022). Net income: ₩7.37b (down 35% from 3Q 2022). Profit margin: 17% (down from 33% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Buying Opportunity • Nov 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be ₩19,518, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 60% in 2 years. Earnings is forecast to grow by 43% in the next 2 years. Duyuru • Oct 31
VITZROCELL Co.,Ltd. (KOSDAQ:A082920) announces an Equity Buyback for KRW 3,600 million worth of its shares. VITZROCELL Co.,Ltd. (KOSDAQ:A082920) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,600 million worth of its shares pursuant to a contract with NH Investment & Securities. The purpose of the share repurchase is to enhance shareholder value. The repurchase program will expire on April 30, 2024. As of October 29, 2023, the company had 359,600 shares within scope available for dividend and had no shares in treasury through other repurchase. Buying Opportunity • Oct 19
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be ₩22,571, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 60% in 2 years. Earnings is forecast to grow by 43% in the next 2 years. New Risk • Aug 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩22,400, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Electrical industry in South Korea. Total returns to shareholders of 32% over the past three years. Major Estimate Revision • Aug 12
Consensus revenue estimates increase by 11% The consensus outlook for revenues in fiscal year 2023 has improved. 2023 revenue forecast increased from ₩182.2m to ₩203.1m. EPS estimate increased from ₩1,604 to ₩1,956 per share. Net income forecast to grow 57% next year vs 104% growth forecast for Electrical industry in South Korea. Consensus price target up from ₩23,000 to ₩28,000. Share price rose 5.9% to ₩21,550 over the past week. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩23,350, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electrical industry in South Korea. Total returns to shareholders of 43% over the past three years. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ₩412 (vs ₩177 in 1Q 2022) First quarter 2023 results: EPS: ₩412 (up from ₩177 in 1Q 2022). Revenue: ₩36.4b (up 69% from 1Q 2022). Net income: ₩8.72b (up 131% from 1Q 2022). Profit margin: 24% (up from 18% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 24
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: ₩1,089 (up from ₩796 in FY 2021). Revenue: ₩141.0b (up 25% from FY 2021). Net income: ₩23.1b (up 36% from FY 2021). Profit margin: 16% (up from 15% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Electrical industry in South Korea. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩17,300, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Electrical industry in South Korea. Total returns to shareholders of 17% over the past three years. Major Estimate Revision • Jan 20
Consensus revenue estimates increase by 10% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from ₩125.4m to ₩138.1m. EPS estimate increased from ₩1,300 to ₩1,508 per share. Net income forecast to grow 41% next year vs 70% growth forecast for Electrical industry in South Korea. Consensus price target up from ₩21,000 to ₩23,000. Share price rose 6.1% to ₩16,600 over the past week. Upcoming Dividend • Dec 21
Upcoming dividend of ₩150 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 12 April 2023. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (0.9%). Price Target Changed • Nov 16
Price target increased to ₩21,000 Up from ₩19,000, the current price target is provided by 1 analyst. New target price is 57% above last closing price of ₩13,400. Stock is down 10% over the past year. The company is forecast to post earnings per share of ₩1,047 for next year compared to ₩796 last year. 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. 6 experienced directors. 1 highly experienced director. No independent directors (7 non-independent directors). Head of Planning & Management Division and Director Beom-Su Jang was the last director to join the board, commencing their role in 2011. 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 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₩10,750, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Electrical industry in South Korea. Total returns to shareholders of 4.5% over the past three years. Major Estimate Revision • Aug 20
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from ₩121.2m to ₩125.4m. EPS estimate increased from ₩940 to ₩1,047 per share. Net income forecast to grow 55% next year vs 59% growth forecast for Electrical industry in South Korea. Consensus price target up from ₩19,000 to ₩21,000. Share price rose 4.1% to ₩13,850 over the past week. 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. 6 experienced directors. 1 highly experienced director. No independent directors (7 non-independent directors). Head of Planning & Management Division and Director Beom-Su Jang was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Price Target Changed • Apr 07
Price target decreased to ₩17,800 Down from ₩20,500, the current price target is an average from 2 analysts. New target price is 29% above last closing price of ₩13,850. Stock is down 7.0% over the past year. The company is forecast to post earnings per share of ₩954 for next year compared to ₩796 last year. Upcoming Dividend • Dec 22
Upcoming dividend of ₩120 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 13 April 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.7%). Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ₩237 (vs ₩143 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩27.1b (up 27% from 3Q 2020). Net income: ₩5.06b (up 64% from 3Q 2020). Profit margin: 19% (up from 14% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 15% share price gain to ₩17,500, the stock trades at a trailing P/E ratio of 26.6x. Average forward P/E is 14x in the Electrical industry in South Korea. Total returns to shareholders of 81% over the past three years. Price Target Changed • Aug 13
Price target increased to ₩20,700 Up from ₩18,600, the current price target is provided by 1 analyst. New target price is 27% above last closing price of ₩16,350. Stock is down 11% over the past year. Reported Earnings • May 12
First quarter 2021 earnings released: EPS ₩246 (vs ₩288 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and revenues, although profit margins were improved. First quarter 2021 results: Revenue: ₩24.0b (down 22% from 1Q 2020). Net income: ₩5.29b (down 15% from 1Q 2020). Profit margin: 22% (up from 20% in 1Q 2020). The increase in margin was driven by lower expenses. Price Target Changed • Mar 05
Price target lowered to ₩19,200 Down from ₩21,000, the current price target is provided by 1 analyst. The new target price is 25% above the current share price of ₩15,400. As of last close, the stock is down 4.3% over the past year. Is New 90 Day High Low • Feb 24
New 90-day low: ₩14,950 The company is down 11% from its price of ₩16,800 on 26 November 2020. The South Korean market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 15
New 90-day low: ₩16,050 The company is down 7.0% from its price of ₩17,300 on 16 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 4.0% over the same period. Duyuru • Dec 04
VITZROCELL Co., Ltd. announced that it expects to receive KRW 20 billion in funding from NongHyup Bank, Samsung Securities Co.,Ltd., Kb-Brain Kosdaq Scale-Up New Technology Business Investment Fund VITZROCELL Co., Ltd. (KOSDAQ:A082920) announced a private placement of series 1 bearer type non-interested non-guaranteed private equity convertible bond for KRW 10,000,000,000 and series 2 Bearer formula Mui gwonbu unsecured private convertible bonds for proceeds of KRW 10,000,000,000 for an aggregate proceeds of KRW 20,000,000 on December 3, 2020. The bonds will be issued at par. The transaction will include participation from NongHyup Bank, Samsung Securities Co.,Ltd. (KOSE:A016360) through its trustee status of Funds 1, 2, 3, 4, 5 for KRW 5,000,000,000 and Kb-Brain Kosdaq Scale-Up New Technology Business Investment Fund for KRW 5,000,000,000. The bonds caries a surface interest rate of 0% and Interest rate to maturity of 1%. The bonds will mature on December 4, 2025. The bonds are convertible into 599,880 common shares at a fixed conversion price of KRW 16,670 per share from December 4, 2021 to November 4, 2025 and for series 1 from December 4, 2022 to November 4, 2025 for 2.71% equity. The bonds are subject to hold period of one year. The date of subscription and expected date of payment is December 4, 2020. The transaction is approved by the board of directors of the company.