HANWHA SYSTEMS CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 18,280 KRW | +1.05% |
|
-1.30% | +5.30% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,140,885 | 1,905,108 | 2,991,892 | 1,972,779 | 3,246,203 | 3,418,237 | - | - |
| Enterprise Value (EV) 2 | 702.6 | 1,452 | 1,366 | 854.5 | 3,246 | 3,186 | 3,114 | 3,110 |
| P/E ratio | 14.7 x | 20.4 x | 24.9 x | -24.4 x | 9.31 x | 22.5 x | 20 x | 17.3 x |
| Yield | 3% | 1.33% | 1% | 2.37% | - | 1.53% | 1.52% | 1.62% |
| Capitalization / Revenue | 0.74 x | 1.16 x | 1.43 x | 0.9 x | 1.32 x | 1.23 x | 1.12 x | 1.03 x |
| EV / Revenue | 0.45 x | 0.88 x | 0.65 x | 0.39 x | 1.32 x | 1.15 x | 1.02 x | 0.93 x |
| EV / EBITDA | 4.46 x | 7.54 x | 6.57 x | 6.63 x | 15.1 x | 11 x | 10.2 x | 8.69 x |
| EV / FCF | 1.92 x | 11.2 x | 5.78 x | 3.88 x | - | 20.4 x | 14.4 x | 22.4 x |
| FCF Yield | 52.1% | 8.89% | 17.3% | 25.8% | - | 4.9% | 6.97% | 4.46% |
| Price to Book | 1.94 x | 3.46 x | 1.1 x | 0.97 x | - | 1.54 x | 1.43 x | 1.37 x |
| Nbr of stocks (in thousands) | 110,230 | 110,122 | 186,993 | 186,993 | 186,993 | 186,993 | - | - |
| Reference price 3 | 10,350 | 17,300 | 16,000 | 10,550 | 17,360 | 18,280 | 18,280 | 18,280 |
| Announcement Date | 2/10/20 | 2/19/21 | 2/22/22 | 2/23/23 | 2/7/24 | - | - | - |
1KRW in Million2KRW in Billions3KRW
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,546 | 1,643 | 2,090 | 2,188 | 2,453 | 2,768 | 3,051 | 3,326 |
| EBITDA 1 | 157.7 | 192.6 | 208 | 129 | 214.8 | 288.8 | 306.7 | 358 |
| EBIT 1 | 85.76 | 92.86 | 112 | 24.02 | 92.83 | 153 | 178.2 | 211.7 |
| Operating Margin | 5.55% | 5.65% | 5.36% | 1.1% | 3.78% | 5.53% | 5.84% | 6.37% |
| Earnings before Tax (EBT) 1 | 82.17 | 79.08 | 128.1 | -57.02 | 413.4 | 180.5 | 202.5 | 239.5 |
| Net income 1 | 72.9 | 93.58 | 98.32 | -76.56 | 349.2 | 151.3 | 171.6 | 195.5 |
| Net margin | 4.72% | 5.7% | 4.71% | -3.5% | 14.24% | 5.46% | 5.62% | 5.88% |
| EPS 2 | 706.0 | 850.0 | 642.0 | -432.0 | 1,864 | 811.0 | 913.9 | 1,055 |
| Free Cash Flow 3 | 366,134 | 129,165 | 236,393 | 220,288 | - | 156,250 | 217,000 | 138,700 |
| FCF margin | 23,682.92% | 7,862.22% | 11,313.37% | 10,067.99% | - | 5,644.2% | 7,111.65% | 4,169.79% |
| FCF Conversion (EBITDA) | 232,236.27% | 67,078.28% | 113,663.42% | 170,799.1% | - | 54,112.24% | 70,758.97% | 38,740.81% |
| FCF Conversion (Net income) | 502,268.32% | 138,025.29% | 240,444.77% | - | - | 103,301.99% | 126,490.38% | 70,946.29% |
| Dividend per Share 2 | 310.0 | 230.0 | 160.0 | 250.0 | - | 280.1 | 277.5 | 296.7 |
| Announcement Date | 2/10/20 | 2/19/21 | 2/22/22 | 2/23/23 | 2/7/24 | - | - | - |
1KRW in Billions2KRW3KRW in Million
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 679.5 | 429.6 | 510.5 | 459.4 | 788.5 | 439.5 | 610.7 | 620.8 | 782.1 | 544.4 | 650.6 | 679.2 | 902.5 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 7.348 | 15.2 | 16.4 | 0.5 | -8.108 | 8.386 | 25.93 | 37.33 | 10.97 | 39.26 | 38.38 | 45.96 | 29.18 |
| Operating Margin | 1.08% | 3.54% | 3.21% | 0.11% | -1.03% | 1.91% | 4.25% | 6.01% | 1.4% | 7.21% | 5.9% | 6.77% | 3.23% |
| Earnings before Tax (EBT) 1 | 25.54 | 17.2 | - | 9.2 | -45.42 | 224.6 | 108.9 | 51.55 | 18.45 | 60.84 | 42.47 | 51.97 | 25.5 |
| Net income 1 | 21.3 | 10.6 | - | 3.6 | -46.22 | 186.4 | 76.32 | 42.83 | 43.7 | 51.8 | 37.93 | 42.8 | 27.25 |
| Net margin | 3.13% | 2.47% | - | 0.78% | -5.86% | 42.4% | 12.5% | 6.9% | 5.59% | 9.52% | 5.83% | 6.3% | 3.02% |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/22/22 | 4/28/22 | 7/28/22 | 10/27/22 | 2/23/23 | 4/25/23 | 7/27/23 | 10/30/23 | 2/7/24 | 4/26/24 | - | - | - |
1KRW in Billions
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 438 | 453 | 1,626 | 1,118 | - | 232 | 304 | 308 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 2 | 366,134 | 129,165 | 236,393 | 220,288 | - | 156,250 | 217,000 | 138,700 |
| ROE (net income / shareholders' equity) | 8.15% | 9.35% | 6.04% | -3.77% | - | 6.88% | 7.29% | 8.19% |
| ROA (Net income/ Total Assets) | 3.38% | 3.67% | 2.98% | -1.95% | - | 3.51% | 3.67% | 4.21% |
| Assets 1 | 2,156 | 2,552 | 3,295 | 3,932 | - | 4,307 | 4,672 | 4,646 |
| Book Value Per Share 3 | 5,337 | 5,004 | 14,583 | 10,830 | - | 11,908 | 12,772 | 13,330 |
| Cash Flow per Share 3 | - | 1,587 | 2,077 | 1,436 | - | 1,401 | 1,358 | 1,709 |
| Capex 1 | 42.5 | 45.6 | 80.1 | 48.3 | - | 147 | 134 | 150 |
| Capex / Sales | 2.75% | 2.78% | 3.83% | 2.21% | - | 5.29% | 4.4% | 4.51% |
| Announcement Date | 2/10/20 | 2/19/21 | 2/22/22 | 2/23/23 | 2/7/24 | - | - | - |
1KRW in Billions2KRW in Million3KRW
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
18,280
KRW
Average target price
22,631
KRW
Spread / Average Target
+23.80%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +5.30% | 2.49B | |
| +25.30% | 139B | |
| +14.40% | 82.24B | |
| +0.80% | 69.4B | |
| +24.90% | 52.48B | |
| +44.48% | 46.41B | |
| +6.95% | 42.42B | |
| +70.55% | 37.98B | |
| +83.62% | 25.05B | |
| +48.89% | 22.72B |
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- Financials Hanwha Systems Co., Ltd.