Northcape's Cameron tips Coway at Sohn

Northcape's Ross Cameron at the Sohn Hearts & Minds Conference in Queenstown.

November 6, 2026

Northcape's Ross Cameron pitches South Korean home appliance company Coway at Sohn.

Northcape Capital’s Ross Cameron picks Korean water filtration company Coway as his stock tip for the Sohn Hearts & Minds conference.

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Coway is a world leader in water and air purification, built on long-term subscription contracts rather than one-off sales.

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More than 95 per cent of revenue is recurring, with churn of just 0.3 per cent, delivering 27 years of double-digit subscriber growth – through both the Asian and global financial crises.

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Despite returns on equity above 20 per cent, Coway trades on just 9 times earnings, overlooked as tech stocks dominate the South Korean exchange.

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With activist investor Align Partners buying a 7 per cent stake and management now tying pay to the share price, Mr Cameron says a re-rating is long overdue.

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This article was originally posted by The Australian here. Licensed by Copyright Agency. You must not copy this work without permission.

Posted

Conference

November 6, 2026

David Rogers

The Australian

Northcape Capital’s Ross Cameron picks Korean water filtration company Coway as his stock tip for the Sohn Hearts & Minds conference.

‍

Coway is a world leader in water and air purification, built on long-term subscription contracts rather than one-off sales.

‍

More than 95 per cent of revenue is recurring, with churn of just 0.3 per cent, delivering 27 years of double-digit subscriber growth – through both the Asian and global financial crises.

‍

Despite returns on equity above 20 per cent, Coway trades on just 9 times earnings, overlooked as tech stocks dominate the South Korean exchange.

‍

With activist investor Align Partners buying a 7 per cent stake and management now tying pay to the share price, Mr Cameron says a re-rating is long overdue.

‍

This article was originally posted by The Australian here. Licensed by Copyright Agency. You must not copy this work without permission.

Disclaimer: This material has been prepared by The Australian, published on November 6, 2026. HM1 is not responsible for the content of linked websites or content prepared by third party. The inclusion of these links and third-party content does not in any way imply any form of endorsement by HM1 of the products or services provided by persons or organisations who are responsible for the linked websites and third-party content. This information is for general information only and does not consider the objectives, financial situation or needs of any person. Before making an investment decision, you should read the relevant disclosure document (if appropriate) and seek professional advice to determine whether the investment and information is suitable for you.

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