Financials Kakao Corp.

Equities

A035720

KR7035720002

Internet Services

End-of-day quote Korea S.E. 06:00:00 2024-05-09 pm EDT 5-day change 1st Jan Change
47,800 KRW -1.65% Intraday chart for Kakao Corp. -1.04% -12.36%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 12,583,966 33,476,209 48,776,953 23,185,190 23,785,714 20,875,161 - -
Enterprise Value (EV) 2 11,159 30,584 44,168 19,910 23,786 17,743 16,977 16,118
P/E ratio -40.7 x 217 x 34.9 x 18.6 x - 47.5 x 35.8 x 33.3 x
Yield 0.08% 0.04% 0.05% 0.11% - 0.13% 0.14% 0.15%
Capitalization / Revenue 4.07 x 8.05 x 7.95 x 3.26 x 2.93 x 2.46 x 2.18 x 2.07 x
EV / Revenue 3.61 x 7.36 x 7.2 x 2.8 x 2.93 x 2.09 x 1.77 x 1.59 x
EV / EBITDA 26.2 x 42.3 x 45.6 x 17.1 x - 12.8 x 11 x 9.5 x
EV / FCF 17.3 x 38.8 x 41 x 88.3 x - 18.1 x 17.7 x 16.8 x
FCF Yield 5.79% 2.58% 2.44% 1.13% - 5.54% 5.65% 5.94%
Price to Book 2.34 x 4.54 x 4.97 x 2.35 x - 2.01 x 1.9 x 1.84 x
Nbr of stocks (in thousands) 408,098 427,842 431,665 434,711 436,115 436,719 - -
Reference price 3 30,836 78,244 112,997 53,335 54,540 47,800 47,800 47,800
Announcement Date 2/12/20 2/8/21 2/10/22 2/9/23 2/14/24 - - -
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 3,090 4,157 6,136 7,107 8,106 8,491 9,587 10,107
EBITDA 1 425.6 722.3 968 1,162 - 1,381 1,536 1,697
EBIT 1 206.6 456 596.9 580.5 501.9 643.6 816.5 926.8
Operating Margin 6.69% 10.97% 9.73% 8.17% 6.19% 7.58% 8.52% 9.17%
Earnings before Tax (EBT) 1 -227.3 408.5 2,292 1,344 -1,382 669.7 877.5 915.2
Net income 1 -298.2 149.6 1,398 1,280 -676 433 583.4 643.6
Net margin -9.65% 3.6% 22.78% 18.01% -8.34% 5.1% 6.09% 6.37%
EPS 2 -758.5 361.4 3,240 2,874 - 1,007 1,334 1,434
Free Cash Flow 3 646,304 787,950 1,076,046 225,461 - 982,747 958,471 957,318
FCF margin 20,917.48% 18,956.01% 17,536.32% 3,172.31% - 11,573.5% 9,997.15% 9,471.41%
FCF Conversion (EBITDA) 151,860.68% 109,086.79% 111,158.87% 19,407.03% - 71,153.13% 62,382.01% 56,404.29%
FCF Conversion (Net income) - 526,700.8% 76,988.03% 17,611.86% - 226,987.76% 164,282.49% 148,748.16%
Dividend per Share 2 25.51 30.13 53.23 60.27 - 61.10 66.22 71.46
Announcement Date 2/12/20 2/8/21 2/10/22 2/9/23 2/14/24 - - -
1KRW in Billions2KRW3KRW in Million
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 1,741 1,785 1,652 1,822 1,859 1,774 1,740 2,042 2,161 2,171 1,988 2,073 2,167 2,250 2,234
EBITDA 1 - - - - 304.7 - - - 342.2 - 354.6 400.8 421.7 448.8 -
EBIT 1 168.2 108.5 158.7 171 150.3 100.4 71.13 113.5 140.3 189.2 120.3 152.4 170.9 191.3 144
Operating Margin 9.66% 6.08% 9.61% 9.38% 8.09% 5.66% 4.09% 5.56% 6.49% 8.71% 6.05% 7.35% 7.89% 8.5% 6.45%
Earnings before Tax (EBT) 1 1,072 552.2 1,760 236.5 236.7 -888.7 73.35 112.1 128.5 -1,684 140.6 183.8 193 - 180
Net income 1 779.1 82.36 1,302 67.61 106.3 -196.9 77.52 57.02 33.32 -835.6 73.73 115.8 127.5 141.1 79
Net margin 44.76% 4.61% 78.81% 3.71% 5.72% -11.1% 4.45% 2.79% 1.54% -38.49% 3.71% 5.59% 5.88% 6.27% 3.54%
EPS 2 1,765 255.1 2,955 153.7 242.1 -476.1 176.8 130.6 76.34 - 271.4 251.0 276.0 275.0 321.0
Dividend per Share 2 - 53.23 - - - 60.27 - - - - - - - 60.27 -
Announcement Date 11/3/21 2/10/22 5/3/22 8/3/22 11/2/22 2/9/23 5/3/23 8/2/23 11/8/23 2/14/24 5/8/24 - - - -
1KRW in Billions2KRW
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 1,425 2,892 4,609 3,275 - 3,132 3,898 4,757
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 2 646,304 787,950 1,076,046 225,461 - 982,747 958,471 957,318
ROE (net income / shareholders' equity) -5.81% 2.36% 17.5% 13.5% - 3.95% 5.42% 5.37%
ROA (Net income/ Total Assets) -3.61% 1.5% 8.22% 5.92% - 1.78% 2.31% 2.31%
Assets 1 8,270 9,973 17,003 21,641 - 24,365 25,262 27,889
Book Value Per Share 3 13,168 17,240 22,716 22,686 - 23,832 25,183 25,924
Cash Flow per Share 3 1,897 2,254 2,929 1,539 - 4,373 3,659 4,152
Capex 1 106 183 216 453 - 504 573 667
Capex / Sales 3.44% 4.41% 3.52% 6.37% - 5.94% 5.97% 6.6%
Announcement Date 2/12/20 2/8/21 2/10/22 2/9/23 2/14/24 - - -
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-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
30
Last Close Price
47,800 KRW
Average target price
67,467 KRW
Spread / Average Target
+41.14%
Consensus
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