Financials Wemade Co.,Ltd.

Equities

A112040

KR7112040001

Internet Services

End-of-day quote Korea S.E. 06:00:00 2024-06-06 pm EDT 5-day change 1st Jan Change
42,900 KRW -0.81% Intraday chart for Wemade Co.,Ltd. +0.47% -29.56%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 486,284 631,431 5,867,089 1,055,347 2,037,297 1,441,879 - -
Enterprise Value (EV) 2 417.4 574.7 5,616 905.8 1,822 1,215 1,205 995.5
P/E ratio -48.6 x -86.3 x 19.6 x -6.9 x -10.2 x 13.3 x 11.7 x 9.81 x
Yield 2.02% 1.56% 0.37% - - 1.63% 1.7% -
Capitalization / Revenue 4.28 x 4.99 x 17.5 x 2.3 x 3.36 x 1.41 x 1.39 x 1.31 x
EV / Revenue 3.67 x 4.54 x 16.8 x 1.98 x 3 x 1.19 x 1.16 x 0.91 x
EV / EBITDA -84.6 x -60.1 x 55.7 x -13.7 x -20.4 x 9.88 x 7.33 x 4.7 x
EV / FCF -9.54 x -36.5 x 61.3 x -22.1 x -105 x 6.29 x 11.3 x 5.08 x
FCF Yield -10.5% -2.74% 1.63% -4.53% -0.95% 15.9% 8.83% 19.7%
Price to Book 2.05 x 2.52 x 9.67 x 2.82 x 7.74 x 4.21 x 3.11 x 2.39 x
Nbr of stocks (in thousands) 32,802 32,802 32,980 33,450 33,453 33,610 - -
Reference price 3 14,825 19,250 177,900 31,550 60,900 42,900 42,900 42,900
Announcement Date 2/12/20 2/10/21 2/9/22 2/14/23 2/6/24 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 113.6 126.6 335 458.6 607.2 1,020 1,036 1,099
EBITDA 1 -4.935 -9.558 100.9 -66.3 -89.47 123 164.4 211.6
EBIT 1 -6.922 -12.84 97.35 -80.6 -112.6 105.8 140.4 156
Operating Margin -6.09% -10.14% 29.06% -17.57% -18.54% 10.37% 13.55% 14.19%
Earnings before Tax (EBT) 1 -7.233 -13.49 391.8 -115.8 -162.8 117.7 163.6 196.5
Net income 1 -9.194 -7.81 306.7 -128.7 - 109 123.9 127.8
Net margin -8.09% -6.17% 91.55% -28.07% - 10.68% 11.96% 11.63%
EPS 2 -305.0 -223.0 9,060 -4,573 -5,992 3,216 3,674 4,375
Free Cash Flow 3 -43,733 -15,759 91,595 -41,022 -17,270 193,275 106,433 195,850
FCF margin -38,481.49% -12,445.53% 27,343.17% -8,945.07% -2,844.37% 18,946.05% 10,273.88% 17,823.58%
FCF Conversion (EBITDA) - - 90,777.5% - - 157,198.05% 64,740.47% 92,556.71%
FCF Conversion (Net income) - - 29,865.66% - - 177,316.51% 85,902.61% 153,207.31%
Dividend per Share 2 300.0 300.0 650.0 - - 700.0 729.0 -
Announcement Date 2/12/20 2/10/21 2/9/22 2/14/23 2/6/24 - - -
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 1 126.7 131 109 108.3 110.3 93.9 159.3 235.5 118.4 161.3 235.8 356.1 267.1
EBITDA - - - - -22.68 -41.69 -24.77 50.83 -60.4 - - - -
EBIT 1 25.5 6.494 -33.26 -28.04 -24.44 -46.78 -40.34 45.37 -70.81 -37.62 -1.55 109.5 32.23
Operating Margin 20.13% 4.96% -30.52% -25.89% -22.15% -49.81% -25.33% 19.26% -59.78% -23.33% -0.66% 30.75% 12.07%
Earnings before Tax (EBT) 1 311.9 7.349 -26.53 -92.8 -1.552 -29.88 -23.82 62.72 -171.8 -54.97 -1.6 124.4 29.4
Net income 1 248.2 -3.32 -31.62 -93.57 -10.07 -30.4 -29.08 41.56 -188 -55.74 2.45 88.3 35.7
Net margin 195.91% -2.53% -29.02% -86.4% -9.13% -32.37% -18.25% 17.64% -158.74% -34.56% 1.04% 24.8% 13.36%
EPS - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 2/9/22 5/11/22 7/27/22 10/26/22 2/14/23 5/9/23 8/8/23 11/7/23 2/6/24 5/7/24 - - -
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 68.9 56.7 252 150 215 227 236 446
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 2 -43,733 -15,759 91,595 -41,022 -17,270 193,275 106,433 195,850
ROE (net income / shareholders' equity) -4.03% -3% 90.4% -19.8% -62.5% 28.8% 44.6% 27.8%
ROA (Net income/ Total Assets) -3.09% -2.36% 45.5% -15.1% -14% 4.13% 8.1% 8.6%
Assets 1 297.4 330.4 674.6 852.9 - 2,637 1,530 1,486
Book Value Per Share 3 7,226 7,645 18,396 11,190 7,866 10,190 13,786 17,939
Cash Flow per Share 3 -1,315 -454.0 2,747 -1,112 -308.0 4,266 5,035 5,493
Capex 1 16.3 0.87 1.4 4 6.98 13.4 13.8 14.7
Capex / Sales 14.34% 0.69% 0.42% 0.87% 1.15% 1.32% 1.33% 1.33%
Announcement Date 2/12/20 2/10/21 2/9/22 2/14/23 2/6/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
42,900 KRW
Average target price
67,500 KRW
Spread / Average Target
+57.34%
Consensus

Quarterly revenue - Rate of surprise

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