Financials CS Wind Corporation

Equities

A112610

KR7112610001

Renewable Energy Equipment & Services

End-of-day quote Korea S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
50,000 KRW -1.19% Intraday chart for CS Wind Corporation +0.40% -28.77%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 588,606 3,053,777 2,770,659 2,850,348 2,908,350 2,071,474 - -
Enterprise Value (EV) 2 700.1 3,194 2,906 3,095 2,908 2,762 2,771 2,853
P/E ratio 18.4 x 46.8 x 39.4 x -525 x - 19.9 x 10.6 x 8.37 x
Yield 1.05% 0.52% 0.91% 0.73% - 1.01% 1.01% 1.53%
Capitalization / Revenue 0.74 x 3.14 x 2.3 x 2.07 x 1.88 x 0.76 x 0.63 x 0.53 x
EV / Revenue 0.88 x 3.28 x 2.41 x 2.24 x 1.88 x 1.01 x 0.84 x 0.73 x
EV / EBITDA 8.51 x 25.2 x 20.9 x 23.2 x - 9.03 x 6.39 x 5.44 x
EV / FCF -348 x -37 x -14.7 x 49.6 x - -30.2 x 22.3 x -
FCF Yield -0.29% -2.7% -6.8% 2.02% - -3.32% 4.48% -
Price to Book 1.78 x 3.7 x 3.04 x 3.27 x - 2.11 x 1.8 x 1.66 x
Nbr of stocks (in thousands) 30,979 34,506 42,171 41,429 41,429 41,429 - -
Reference price 3 19,000 88,500 65,700 68,800 70,200 50,000 50,000 50,000
Announcement Date 2/17/20 2/10/21 2/11/22 2/13/23 2/19/24 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 796.9 972.7 1,203 1,379 1,549 2,727 3,302 3,929
EBITDA 1 82.28 126.9 139.1 133.5 - 305.7 433.3 524.5
EBIT 1 60.8 97.89 101.8 46.72 142.2 195.3 295.6 373.9
Operating Margin 7.63% 10.06% 8.46% 3.39% 9.19% 7.16% 8.95% 9.52%
Earnings before Tax (EBT) 1 35.68 62.37 91.76 0.2463 55.82 127.2 243.5 -
Net income 1 28.55 38.85 69.08 -14.62 51.15 102.7 198.2 -
Net margin 3.58% 3.99% 5.74% -1.06% 3.3% 3.77% 6% -
EPS 2 1,030 1,892 1,667 -131.0 - 2,513 4,716 5,971
Free Cash Flow 3 -2,011 -86,214 -197,697 62,378 - -91,580 124,250 -
FCF margin -252.3% -8,863.54% -16,427.58% 4,523.43% - -3,358.69% 3,762.61% -
FCF Conversion (EBITDA) - - - 46,742.37% - - 28,674.34% -
FCF Conversion (Net income) - - - - - - 62,703.16% -
Dividend per Share 2 200.0 460.0 600.0 500.0 - 505.6 505.6 766.7
Announcement Date 2/17/20 2/10/21 2/11/22 2/13/23 2/19/24 - - -
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
Net sales 1 214.5 467.9 310.1 327 323.1 418.3 350.5 415.5 380.5 402.1 599.7 655.6 652.7 754.6
EBITDA 1 - - - 35.49 36.86 - 42.1 - - - 43.1 69.1 79.5 103.6
EBIT 1 12.84 29.16 9.206 19.32 20.23 -2.028 24.56 41.83 41.48 34.38 37.64 47.85 50.39 62.41
Operating Margin 5.99% 6.23% 2.97% 5.91% 6.26% -0.48% 7.01% 10.07% 10.9% 8.55% 6.28% 7.3% 7.72% 8.27%
Earnings before Tax (EBT) 1 12.1 15.52 -1.74 6.419 0.073 -4.603 12.65 22.12 22.88 -1.601 21.3 31.02 28.58 48.95
Net income 1 10.2 8.737 -5.258 6.322 5.371 -12.12 7.859 20.64 19.12 - 17.36 25.12 23.18 43.2
Net margin 4.75% 1.87% -1.7% 1.93% 1.66% -2.9% 2.24% 4.97% 5.02% - 2.89% 3.83% 3.55% 5.72%
EPS 2 250.0 184.0 -125.0 158.0 129.0 -293.0 184.0 498.0 461.0 - 677.9 748.2 844.8 1,031
Dividend per Share 2 - 600.0 - - - 500.0 - - - - - - - 980.0
Announcement Date 11/5/21 2/11/22 5/16/22 8/9/22 11/9/22 2/13/23 5/10/23 8/9/23 11/8/23 2/19/24 - - - -
1KRW in Billions2KRW
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 111 140 135 245 - 691 699 782
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.354 x 1.104 x 0.9732 x 1.836 x - 2.259 x 1.614 x 1.491 x
Free Cash Flow 2 -2,011 -86,214 -197,697 62,378 - -91,580 124,250 -
ROE (net income / shareholders' equity) 8.42% 9.48% 9.46% -1.57% 5.38% 11.1% 18% 17.9%
ROA (Net income/ Total Assets) 4.3% 4.67% 4.99% -0.55% - 3.73% 6.69% -
Assets 1 663.5 831.1 1,385 2,641 - 2,758 2,964 -
Book Value Per Share 3 10,688 23,900 21,577 21,045 - 23,709 27,705 30,201
Cash Flow per Share 3 - 1,470 -2,543 3,703 - 4,358 6,302 6,719
Capex 1 87.7 110 92.3 91.9 - 277 208 237
Capex / Sales 11% 11.33% 7.67% 6.66% - 10.17% 6.31% 6.02%
Announcement Date 2/17/20 2/10/21 2/11/22 2/13/23 2/19/24 - - -
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
BUY
Number of Analysts
13
Last Close Price
50,000 KRW
Average target price
79,769 KRW
Spread / Average Target
+59.54%
Consensus
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