Added to YB: 2026-02-23
Pitch date: 2026-02-19
143240.KQ [bullish]
Saramin Co.,Ltd.
-0.9%
current return
Author Info
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Company Info
Saramin Co.,Ltd. operates as a recruitment company in South Korea. The company offers Saramin, a career matching platform; Jumpit, an employment platform for developers; recruitment consulting; and HR research services.
Market Cap
KRW 149.3B
Pitch Price
KRW 14.4K
Price Target
54.0K (+279%)
Dividend
N/A
EV/EBITDA
5.41
P/E
14.16
EV/Sales
0.98
Sector
Professional Services
Category
value
Korea's #1 Job Platform at Negative Enterprise Value with 99% Gross Margins and a 'Governance Nightmare' - Saramin
143240.KQ: Korea's #1 job platform trades at negative EV—mkt cap ₩149B vs ₩180B net cash post-Remember sale to EQT. Core biz generates ₩17B op profit, 99% gross margin, 17M monthly visits in duopoly w/ JobKorea. Revenue -19% from peak on worst hiring in 27yrs (0.40 openings/seeker vs 0.60+ normal). Bear 110% upside, base 150-210%, bull 260-280% on cyclical recovery + capital return. Key risks: mgmt may waste cash (CEO from ₩494B Kiwoom disaster), chaebol pyramid (1.5% econ interest, 100% control), AI disintermediation, structural demographic decline. Catalysts: special div, buyback+cancellation, hiring recovery (2026 survey +7.9pp YOY). Position requires 3-5yr patience for governance discount to narrow.
Read full article (32 min)