Reported Earnings • Dec 24
Full year 2025 earnings released: EPS: ₩208 (vs ₩22.00 in FY 2024) Full year 2025 results: EPS: ₩208 (up from ₩22.00 in FY 2024). Revenue: ₩122.5b (up 11% from FY 2024). Net income: ₩6.72b (up ₩5.95b from FY 2024). Profit margin: 5.5% (up from 0.7% in FY 2024). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 12
Pangrim Co., Ltd., Annual General Meeting, Dec 30, 2025 Pangrim Co., Ltd., Annual General Meeting, Dec 30, 2025, at 10:00 Tokyo Standard Time. Location: conference room, 402, world cup buk-ro, mapo-gu, seoul South Korea Upcoming Dividend • Sep 22
Upcoming dividend of ₩60.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 13 January 2026. Payout ratio is on the higher end at 83% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (2.7%). Reported Earnings • Aug 20
Third quarter 2025 earnings released: ₩47.00 loss per share (vs ₩58.00 profit in 3Q 2024) Third quarter 2025 results: ₩47.00 loss per share (down from ₩58.00 profit in 3Q 2024). Revenue: ₩29.6b (up 7.7% from 3Q 2024). Net loss: ₩1.51b (down 174% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 18
Dividend of ₩60.00 announced Dividend of ₩60.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 13th January 2026 Dividend yield will be 1.4%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Duyuru • Aug 16
Pangrim Co., Ltd. announces Annual dividend, payable on January 13, 2026 Pangrim Co., Ltd. announced Annual dividend of KRW 60.0000 per share payable on January 13, 2026, ex-date on September 29, 2025 and record date on September 30, 2025. New Risk • Aug 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩137.1b (US$99.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 27% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (₩137.1b market cap, or US$99.1m). Reported Earnings • Feb 20
First quarter 2025 earnings released: EPS: ₩134 (vs ₩4.00 loss in 1Q 2024) First quarter 2025 results: EPS: ₩134 (up from ₩4.00 loss in 1Q 2024). Revenue: ₩28.4b (up 2.8% from 1Q 2024). Net income: ₩4.72b (up ₩4.88b from 1Q 2024). Profit margin: 17% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Dec 24
Full year 2024 earnings released: EPS: ₩22.00 (vs ₩114 loss in FY 2023) Full year 2024 results: EPS: ₩22.00 (up from ₩114 loss in FY 2023). Revenue: ₩110.6b (down 16% from FY 2023). Net income: ₩774.2m (up ₩4.91b from FY 2023). Profit margin: 0.7% (up from net loss in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Duyuru • Nov 26
Pangrim Co., Ltd., Annual General Meeting, Dec 27, 2024 Pangrim Co., Ltd., Annual General Meeting, Dec 27, 2024, at 10:00 Tokyo Standard Time. Location: smit media hall, 402, world cup buk-ro, mapo-gu, seoul South Korea Upcoming Dividend • Sep 20
Upcoming dividend of ₩38.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 13 January 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.2%. Lower than top quartile of South Korean dividend payers (3.8%). Lower than average of industry peers (3.1%). New Risk • Sep 17
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩104.6b market cap, or US$79.5m). Declared Dividend • Aug 10
Dividend of ₩38.00 announced Dividend of ₩38.00 is the same as last year. Ex-date: 27th September 2024 Payment date: 13th January 2025 Dividend yield will be 1.4%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (10% cash payout ratio). The dividend has increased by an average of 3.0% per year over the past 9 years. However, payments have been volatile during that time. Reported Earnings • Feb 17
First quarter 2024 earnings released: ₩4.00 loss per share (vs ₩82.00 loss in 1Q 2023) First quarter 2024 results: ₩4.00 loss per share (improved from ₩82.00 loss in 1Q 2023). Revenue: ₩27.6b (down 18% from 1Q 2023). Net loss: ₩161.8m (loss narrowed 95% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Reported Earnings • Dec 22
Full year 2023 earnings released: ₩114 loss per share (vs ₩152 profit in FY 2022) Full year 2023 results: ₩114 loss per share (down from ₩152 profit in FY 2022). Revenue: ₩131.9b (down 15% from FY 2022). Net loss: ₩4.14b (down 174% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 19
Upcoming dividend of ₩45.00 per share at 2.0% yield Eligible shareholders must have bought the stock before 26 September 2023. Payment date: 12 January 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of South Korean dividend payers (3.4%). Lower than average of industry peers (2.6%). New Risk • Jul 03
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 210% The company is paying a dividend despite having no free cash flows. Dividend yield: 1.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. 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: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 210% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Market cap is less than US$100m (₩130.3b market cap, or US$99.7m). Board Change • Jul 03
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. 6 experienced directors. No highly experienced directors. 1 independent director (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: Minority of independent directors. Insufficient board refreshment. New Risk • Jun 15
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 9.0% 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 (9.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Reported Earnings • May 19
Second quarter 2023 earnings released: ₩9.00 loss per share (vs ₩46.00 profit in 2Q 2022) Second quarter 2023 results: ₩9.00 loss per share (down from ₩46.00 profit in 2Q 2022). Revenue: ₩34.2b (down 12% from 2Q 2022). Net loss: ₩335.1m (down 120% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 62% per year, which means it is well ahead of earnings. Reported Earnings • Feb 19
First quarter 2023 earnings released: ₩82.00 loss per share (vs ₩6.00 loss in 1Q 2022) First quarter 2023 results: ₩82.00 loss per share (further deteriorated from ₩6.00 loss in 1Q 2022). Revenue: ₩33.7b (down 20% from 1Q 2022). Net loss: ₩2.98b (loss widened ₩2.77b from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 45% per year, which means it is well ahead of earnings. Reported Earnings • Dec 21
Full year 2022 earnings released: EPS: ₩152 (vs ₩191 in FY 2021) Full year 2022 results: EPS: ₩152 (down from ₩191 in FY 2021). Revenue: ₩155.8b (up 19% from FY 2021). Net income: ₩5.57b (down 25% from FY 2021). Profit margin: 3.6% (down from 5.7% 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 5% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorated over the past week After last week's 34% share price decline to ₩5,420, the stock trades at a trailing P/E ratio of 46.9x. Average trailing P/E is 7x in the Luxury industry in South Korea. Total returns to shareholders of 157% over the past three years. 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. 6 experienced directors. No highly experienced directors. 1 independent director (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: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 29% share price gain to ₩6,470, the stock trades at a trailing P/E ratio of 56x. Average trailing P/E is 6x in the Luxury industry in South Korea. Total returns to shareholders of 236% over the past three years. Upcoming Dividend • Sep 22
Upcoming dividend of ₩45.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 12 January 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of South Korean dividend payers (3.1%). Lower than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 17% share price gain to ₩4,850, the stock trades at a trailing P/E ratio of 42x. Average trailing P/E is 8x in the Luxury industry in South Korea. Total returns to shareholders of 151% over the past three years. Reported Earnings • Aug 20
Third quarter 2022 earnings released: EPS: ₩82.00 (vs ₩100.00 in 3Q 2021) Third quarter 2022 results: EPS: ₩82.00 (down from ₩100.00 in 3Q 2021). Revenue: ₩35.2b (up 12% from 3Q 2021). Net income: ₩2.99b (down 23% from 3Q 2021). Profit margin: 8.5% (down from 12% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩3,205, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 8x in the Luxury industry in South Korea. Total returns to shareholders of 52% over the past three years. Reported Earnings • May 22
Second quarter 2022 earnings released: EPS: ₩46.00 (vs ₩104 in 2Q 2021) Second quarter 2022 results: EPS: ₩46.00 (down from ₩104 in 2Q 2021). Revenue: ₩39.0b (up 16% from 2Q 2021). Net income: ₩1.68b (down 58% from 2Q 2021). Profit margin: 4.3% (down from 12% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% 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 • 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. 6 experienced directors. No highly experienced directors. 1 independent director (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: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improved over the past week After last week's 21% share price gain to ₩3,640, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 12x in the Luxury industry in South Korea. Total returns to shareholders of 65% over the past three years. Reported Earnings • Feb 20
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: ₩6.00 loss per share (vs ₩6.00 loss in 1Q 2021). Revenue: ₩42.3b (up 27% from 1Q 2021). Net loss: ₩215.7m (loss narrowed 9.5% from 1Q 2021). Revenue was in line with analyst estimates. 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 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₩191 (up from ₩128 in FY 2020). Revenue: ₩131.0b (up 12% from FY 2020). Net income: ₩7.40b (up 48% from FY 2020). Profit margin: 5.7% (up from 4.3% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩2,520, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 12x in the Luxury industry in South Korea. Negligible returns to shareholders over past three years. Upcoming Dividend • Sep 22
Upcoming dividend of ₩35.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 12 January 2022. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (2.2%). In line with average of industry peers (1.2%). Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 17% share price gain to ₩2,805, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 11x in the Luxury industry in South Korea. Total returns to shareholders of 12% over the past three years. Reported Earnings • Aug 23
Third quarter 2021 earnings released: EPS ₩100.00 (vs ₩35.00 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩31.4b (up 38% from 3Q 2020). Net income: ₩3.89b (up 188% from 3Q 2020). Profit margin: 12% (up from 5.9% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • May 23
Second quarter 2021 earnings released: EPS ₩104 (vs ₩27.00 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₩33.7b (up 4.5% from 2Q 2020). Net income: ₩4.01b (up 287% from 2Q 2020). Profit margin: 12% (up from 3.2% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Is New 90 Day High Low • Mar 05
New 90-day high: ₩2,215 The company is up 16% from its price of ₩1,910 on 04 December 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Luxury industry, which is up 21% over the same period. Reported Earnings • Feb 20
First quarter 2021 earnings released: ₩6.00 loss per share (vs ₩27.00 profit in 1Q 2020) The company reported a soft first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: ₩33.4b (up 5.4% from 1Q 2020). Net loss: ₩238.3m (down 123% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 2% per year. Is New 90 Day High Low • Jan 13
New 90-day high: ₩2,005 The company is up 5.0% from its price of ₩1,910 on 15 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 8.0% over the same period. Reported Earnings • Dec 16
Full year 2020 earnings released: EPS ₩128 The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: ₩116.5b (down 12% from FY 2019). Net income: ₩4.99b (down 12% from FY 2019). Profit margin: 4.3% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 1% per year. Duyuru • Dec 10
Pangrim Co., Ltd., Annual General Meeting, Dec 28, 2020 Pangrim Co., Ltd., Annual General Meeting, Dec 28, 2020, at 10:00 Korea Standard Time. Is New 90 Day High Low • Oct 30
New 90-day low: ₩1,705 The company is down 1.0% from its price of ₩1,725 on 31 July 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 9.0% over the same period. Upcoming Dividend • Sep 21
Upcoming Dividend of ₩40.00 Per Share Will be paid on the 10th of January to those who are registered shareholders by the 28th of September. The trailing yield of 2.0% is below the top quartile of South Korean dividend payers (2.8%), but it is higher than industry peers (1.5%).