Financials Industrial Bank of Korea

Equities

A024110

KR7024110009

Banks

End-of-day quote Korea S.E. 06:00:00 2024-05-19 pm EDT 5-day change 1st Jan Change
14,180 KRW +2.01% Intraday chart for Industrial Bank of Korea +1.87% +19.56%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,810,452 6,529,793 7,666,296 7,830,722 9,457,471 11,307,499 - -
Enterprise Value (EV) 1 6,810,452 6,529,793 7,666,296 7,830,722 9,457,471 11,307,499 11,307,499 11,307,499
P/E ratio 5.26 x 4.47 x 3.58 x 2.96 x 3.75 x 4.09 x 3.95 x 3.76 x
Yield 5.68% 5.33% 7.57% 9.78% 8.3% 7.41% 7.95% 8.55%
Capitalization / Revenue 1.06 x 1.05 x 1.14 x 0.96 x 1.1 x 1.32 x 1.28 x 1.24 x
EV / Revenue 1.06 x 1.05 x 1.14 x 0.96 x 1.1 x 1.32 x 1.28 x 1.24 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.3 x 0.24 x 0.28 x 0.27 x 0.33 x 0.36 x 0.34 x 0.32 x
Nbr of stocks (in thousands) 577,157 738,664 744,301 797,426 797,426 797,426 - -
Reference price 2 11,800 8,840 10,300 9,820 11,860 14,180 14,180 14,180
Announcement Date 2/10/20 2/5/21 2/8/22 2/7/23 2/7/24 - - -
1KRW in Million2KRW
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 6,420 6,230 6,726 8,187 8,575 8,556 8,829 9,097
EBITDA - - - - - - - -
EBIT 1 3,758 3,800 4,127 3,796 5,890 5,759 6,012 6,215
Operating Margin 58.53% 60.99% 61.36% 46.37% 68.68% 67.3% 68.1% 68.31%
Earnings before Tax (EBT) 1 2,258 2,087 3,318 3,762 3,493 3,782 3,927 4,097
Net income 1 1,628 1,536 2,412 2,796 2,670 2,811 2,894 3,047
Net margin 25.35% 24.65% 35.87% 34.16% 31.13% 32.85% 32.78% 33.5%
EPS 2 2,242 1,977 2,877 3,320 3,162 3,469 3,588 3,772
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 670.0 471.0 780.0 960.0 984.0 1,051 1,128 1,212
Announcement Date 2/10/20 2/5/21 2/8/22 2/7/23 2/7/24 - - -
1KRW in Billions2KRW
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 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 2025 Q1
Net sales 1 1,708 1,725 1,794 1,947 2,119 2,326 2,474 2,097 2,032 2,220 2,075 2,159 2,181 2,046 2,151
EBITDA - - - - - - - - - - - - - - -
EBIT 1 815.9 1,069 1,134 1,242 1,091 329.4 915.6 848.6 1,420 1,544 1,378 1,407 1,530 1,408 -
Operating Margin 47.76% 61.97% 63.17% 63.79% 51.5% 14.16% 37.01% 40.47% 69.88% 69.55% 66.42% 65.16% 70.14% 68.82% -
Earnings before Tax (EBT) 1 838.1 823.1 867.3 752.4 1,089 1,054 937.1 900.3 988.7 667 1,027 899.3 1,031 663.1 971.5
Net income 1 607.9 596.2 658.1 565 793.4 779.9 720.1 664 728.6 557 780.8 662.1 743.9 526.1 701
Net margin 35.58% 34.57% 36.68% 29.02% 37.44% 33.53% 29.11% 31.66% 35.85% 25.09% 37.63% 30.66% 34.1% 25.71% 32.58%
EPS 2 723.0 708.0 787.0 671.0 958.0 905.0 860.0 832.7 867.0 602.3 862.0 780.3 852.4 578.9 879.0
Dividend per Share 2 - 780.0 - - - 960.0 - - - 984.0 - - - 950.0 -
Announcement Date 10/26/21 2/8/22 4/25/22 7/22/22 10/26/22 2/7/23 4/27/23 7/25/23 10/27/23 2/7/24 4/29/24 - - - -
1KRW in Billions2KRW
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 7.42% 6.46% 9.21% 9.87% 9.2% 9.18% 8.93% 8.96%
ROA (Net income/ Total Assets) 0.54% 0.46% 0.64% 0.67% 0.62% 0.6% 0.6% 0.6%
Assets 1 303,816 337,183 376,953 418,445 431,585 465,546 479,111 505,936
Book Value Per Share 2 39,281 37,454 36,888 36,302 36,485 39,571 42,084 44,068
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/10/20 2/5/21 2/8/22 2/7/23 2/7/24 - - -
1KRW in Billions2KRW
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
14,180 KRW
Average target price
15,333 KRW
Spread / Average Target
+8.13%
Consensus
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