STX ENGINE CO.,LTD.

Financials STX Engine Co.,Ltd.

Equities

A077970

KR7077970002

Shipbuilding

End-of-day quote Korea S.E. Other stock markets 06:00:00 2024-05-20 pm EDT			5-day change	1st Jan Change
13,530 ^KRW	-1.60%		-6.63%	+14.18%

2023	STX Engine Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2023	CI
2018	STX Engine Co.,Ltd. announced that it has received KRW 94.350660733 billion in funding from Korea Development Bank, Investment Arm, Woori Bank Co., Ltd., Investment Arm, NongHyup Bank, Investment Arm, KEB Hana Bank, Investment Arm, The Export-Import Bank Of Korea, Investment Arm, Daegu Bank	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	186,617	187,447	201,270	265,411	371,852	327,617
Enterprise Value (EV) ¹	451,225	401,069	349,115	419,481	515,565	502,132
P/E ratio	5.64 x	12.8 x	14.2 x	4,800 x	-13.5 x	83.7 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	0.32 x	0.31 x	0.34 x	0.54 x	0.68 x	0.52 x
EV / Revenue	0.78 x	0.66 x	0.6 x	0.85 x	0.95 x	0.8 x
EV / EBITDA	10.8 x	9.56 x	6.17 x	23.9 x	93.9 x	16.7 x
EV / FCF	-4.71 x	5.64 x	7.64 x	31.4 x	53 x	-28.9 x
FCF Yield	-21.2%	17.7%	13.1%	3.19%	1.89%	-3.46%
Price to Book	0.14 x	0.79 x	0.76 x	0.93 x	1.43 x	1.26 x
Nbr of stocks (in thousands)	27,647	27,647	27,647	27,647	27,647	27,647
Reference price ²	6,750	6,780	7,280	9,600	13,450	11,850
Announcement Date	3/19/19	3/17/20	3/22/21	3/22/22	3/22/23	3/13/24

¹KRW in Million²KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	577,328	610,608	586,695	493,455	544,022	630,378
EBITDA ¹	41,958	41,943	56,557	17,576	5,490	30,020
EBIT ¹	31,337	30,041	42,980	3,644	-8,816	18,868
Operating Margin	5.43%	4.92%	7.33%	0.74%	-1.62%	2.99%
Earnings before Tax (EBT) ¹	24,174	14,210	17,234	-2,090	-28,410	7,657
Net income ¹	27,899	20,377	20,647	1,005	-26,683	5,685
Net margin	4.83%	3.34%	3.52%	0.2%	-4.9%	0.9%
EPS ²	1,196	531.0	514.0	2.000	-999.3	141.6
Free Cash Flow ¹	-95,811	71,126	45,699	13,362	9,735	-17,370
FCF margin	-16.6%	11.65%	7.79%	2.71%	1.79%	-2.76%
FCF Conversion (EBITDA)	-	169.58%	80.8%	76.03%	177.32%	-
FCF Conversion (Net income)	-	349.05%	221.34%	1,329.2%	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	3/19/19	3/17/20	3/22/21	3/22/22	3/22/23	3/13/24

¹KRW in Million²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	264,607	213,622	147,845	154,070	143,713	174,515
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	6.307 x	5.093 x	2.614 x	8.766 x	26.18 x	5.813 x
Free Cash Flow ¹	-95,811	71,126	45,699	13,362	9,735	-17,370
ROE (net income / shareholders' equity)	17.4%	8.89%	8.19%	0.37%	-9.81%	2.19%
ROA (Net income/ Total Assets)	2.33%	2.22%	3.28%	0.28%	-0.65%	1.35%
Assets ¹	1,198,296	918,465	629,371	363,447	4,094,354	422,402
Book Value Per Share ²	47,600	8,589	9,638	10,271	9,413	9,391
Cash Flow per Share ²	10,843	2,329	4,099	3,787	3,193	3,133
Capex ¹	7,850	8,778	9,144	12,006	12,191	8,687
Capex / Sales	1.36%	1.44%	1.56%	2.43%	2.24%	1.38%
Announcement Date	3/19/19	3/17/20	3/22/21	3/22/22	3/22/23	3/13/24

¹KRW in Million²KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Ship Part Manufacturer

	1st Jan change	Capi.
STX ENGINE CO.,LTD.	+14.18%	279M
ASIAN STAR ANCHOR CHAIN CO., LTD. JIANGSU	-19.60%	1.08B
HANWHA ENGINE CO., LTD.	+36.57%	781M
DAIHATSU DIESEL MFG. CO., LTD.	+80.71%	343M
SEJIN HEAVY INDUSTRIES CO., LTD.	+39.85%	272M
CAPE INDUSTRIES LTD.	+37.67%	123M
ORIENTAL PRECISION & ENGINEERING CO.,LTD.	+25.74%	122M
INHWA PRECISION CO., LTD	+14.00%	86.2M
HANLA IMS CO., LTD.	+5.13%	84.83M
SANGSANGIN INDUSTRY CO., LTD.	+19.63%	53.26M

Ship Part Manufacturer

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A077970 Stock
Financials STX Engine Co.,Ltd.

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