Duyuru • Mar 07
TOVIS Co.,Ltd, Annual General Meeting, Mar 31, 2026 TOVIS Co.,Ltd, Annual General Meeting, Mar 31, 2026, at 09:00 Tokyo Standard Time. Location: auditorium, 15, harmony-ro 226beon-gil, yeonsu-gu, incheon South Korea Declared Dividend • Nov 08
Dividend of ₩300 announced Dividend of ₩300 is the same as last year. Ex-date: 29th December 2025 Payment date: 20th April 2026 Dividend yield will be 2.1%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 16% over the next year, which should provide support to the dividend and adequate earnings cover. Duyuru • Nov 07
TOVIS Co.,Ltd announces Annual dividend, payable on April 20, 2026 TOVIS Co.,Ltd announced Annual dividend of KRW 300.0000 per share payable on April 20, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩17,750, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 11x in the Electronic industry in South Korea. Total returns to shareholders of 104% over the past three years. Major Estimate Revision • Apr 23
Consensus EPS estimates increase by 17%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₩762.1m to ₩745.9m. EPS estimate rose from ₩3,300 to ₩3,858. Net income forecast to grow 7.4% next year vs 6.9% growth forecast for Electronic industry in South Korea. Consensus price target of ₩27,000 unchanged from last update. Share price was steady at ₩15,730 over the past week. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩14,870, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Electronic industry in South Korea. Total returns to shareholders of 53% over the past three years. Reported Earnings • Mar 22
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: ₩3,763 (up from ₩757 in FY 2023). Revenue: ₩623.8b (up 39% from FY 2023). Net income: ₩57.7b (up 398% from FY 2023). Profit margin: 9.3% (up from 2.6% in FY 2023). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 24%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 26
TOVIS Co.,Ltd, Annual General Meeting, Mar 26, 2025 TOVIS Co.,Ltd, Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: auditorium, 15, harmony-ro 226beon-gil, yeonsu-gu, incheon South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩160 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 17 April 2025. Payout ratio is a comfortable 5.9% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (1.0%). New Risk • Nov 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩17,620, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Electronic industry in South Korea. Total returns to shareholders of 115% over the past three years. Major Estimate Revision • Aug 08
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₩2,620 to ₩2,991. Revenue forecast steady at ₩652.4m. Net income forecast to grow 134% next year vs 39% growth forecast for Electronic industry in South Korea. Consensus price target of ₩28,000 unchanged from last update. Share price fell 3.1% to ₩19,570 over the past week. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: ₩757 (vs ₩323 loss in FY 2022) Full year 2023 results: EPS: ₩757 (up from ₩323 loss in FY 2022). Revenue: ₩447.4b (up 36% from FY 2022). Net income: ₩11.6b (up ₩16.6b from FY 2022). Profit margin: 2.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 20
Upcoming dividend of ₩100.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 11 April 2024. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (0.9%). Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: ₩430 (vs ₩46.00 in 3Q 2022) Third quarter 2023 results: EPS: ₩430 (up from ₩46.00 in 3Q 2022). Revenue: ₩127.9b (up 39% from 3Q 2022). Net income: ₩6.59b (up ₩5.88b from 3Q 2022). Profit margin: 5.1% (up from 0.8% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 24
Full year 2022 earnings released: ₩323 loss per share (vs ₩82.00 profit in FY 2021) Full year 2022 results: ₩323 loss per share (down from ₩82.00 profit in FY 2021). Revenue: ₩328.2b (up 25% from FY 2021). Net loss: ₩4.98b (down 495% from profit in FY 2021). Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Electronic industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Dec 21
Upcoming dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 18 April 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of South Korean dividend payers (3.3%). In line with average of industry peers (1.0%). 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. 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. Reported Earnings • Mar 17
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ₩82.00 (up from ₩426 loss in FY 2020). Revenue: ₩263.4b (down 3.4% from FY 2020). Net income: ₩1.26b (up ₩7.66b from FY 2020). Profit margin: 0.5% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue exceeded analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 42%, compared to a 27% growth forecast for the industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 102 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 26
New 90-day low: ₩7,180 The company is down 4.0% from its price of ₩7,450 on 27 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 23% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: ₩8,600 The company is up 37% from its price of ₩6,290 on 22 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 42% over the same period. Is New 90 Day High Low • Nov 13
New 90-day high: ₩7,950 The company is up 15% from its price of ₩6,940 on 14 August 2020. The South Korean market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 5.0% over the same period. Valuation Update With 7 Day Price Move • Nov 13
Market bids up stock over the past week After last week's 28% share price gain to ₩7,950, the stock is trading at a trailing P/E ratio of 12.8x, up from the previous P/E ratio of 10x. This compares to an average P/E of 23x in the Electronic industry in South Korea. Total returns to shareholders over the past three years are 10%.