DONGWON DEVELOPMENT CO.,LTD. (013120.KQ)

Tuesday

4:20 PM

Thesis: The recent decline in housing demand coupled with rising interest rates is causing concern among investors regarding future revenue growth.

Revenue Outlook

Metric	FY2025	FY2026E	FY2027E
Revenue	$387.3B	$445.0B	$529.0B
Rev. Growth	-25.6%	+14.9%	+18.9%
EPS	$290.23	$369.00	$514.00
EPS Growth	+43.8%	+27.1%	+39.3%
P/E (fwd)	7.6×	6.0×	4.3×

★ Analysts see FY2027 revenue reaching $529.0B — +18.9% growth in a single year.

What Moves the Stock

1Changes in housing demand in major urban centers like Seoul
2Government policies affecting real estate development and zoning
3Interest rate fluctuations impacting mortgage affordability
4Trends in commercial real estate occupancy rates
5Residential development (approximately 60%)
6Commercial property leasing (approximately 30%)
7Property management and consulting services (approximately 10%)
8Urbanization and demand for high-density living spaces

FY2025 Snapshot

Revenue: $387.3B
Rev. Growth: -25.6%
Gross Margin: 10.0%
Op. Margin: 4.4%
Net Margin: 6.8%
Net Income: $26.2B
NI Growth: +42.8%
EPS: $290.23
1Y Return: -15.2%

013120.KQ Chart

My Notes

"Management noted, 'We are facing headwinds from rising rates that could impact our sales projections.'"
Moat: DongWon possesses a moderate moat due to its established relationships and experience in navigating regulatory environments.
value - Investors may be drawn to the low valuation metrics, particularly the price-to-book ratio of 0.2x.
Higher interest rates can dampen housing demand, as mortgage costs rise, leading to lower sales volumes and potentially impacting valuation…
Watch on earnings: Housing starts in South Korea, Seoul residential property prices, Commercial real estate vacancy rates.

One Sentence Summary:

DongWon Development Co.,Ltd.: the story is balanced — changes in housing demand in major urban centers like seoul.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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