Financials Hyundai G.F. Holdings Co., Ltd.

Equities

A005440

KR7005440003

Home Furnishings

End-of-day quote Korea S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
4,710 ^KRW	+0.86%		+6.80%	+29.40%

Apr. 17	Hyundai G.F. Holdings Co., Ltd. agreed to acquire additional 15.8% Hyundai Home Shopping Network Corporation from Hyundai Department Store Co. Ltd. for KRW 0.12 million.	CI
Apr. 05	Hyundai Green Food to Provide Specialized Food Services to South Korean Basketball Team	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	1,038,229	764,809	748,220	587,576	543,848	734,309	-
Enterprise Value (EV) ²	709.2	432.1	748.2	587.6	543.8	808.3	776.3
P/E ratio	18.9 x	-	-	-	-	-	-
Yield	1.77%	2.4%	2.45%	2.04%	-	5.31%	5.73%
Capitalization / Revenue	0.33 x	0.24 x	0.21 x	0.15 x	0.21 x	0.16 x	0.15 x
EV / Revenue	0.23 x	0.13 x	0.21 x	0.15 x	0.21 x	0.17 x	0.16 x
EV / EBITDA	5.24 x	3.44 x	5.78 x	-	12.7 x	3.53 x	2.95 x
EV / FCF	15.7 x	7.56 x	-	-	-	38.5 x	11.1 x
FCF Yield	6.35%	13.2%	-	-	-	2.6%	9.02%
Price to Book	0.6 x	0.43 x	0.41 x	0.49 x	-	0.27 x	0.25 x
Nbr of stocks (in thousands)	57,232	57,032	57,032	57,032	149,409	155,904	-
Reference price ³	18,141	13,410	13,119	10,303	3,640	4,710	4,710
Announcement Date	2/11/20	2/8/21	2/14/22	2/14/23	2/8/24	-	-

¹KRW in Million²KRW in Billions³KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	3,124	3,238	3,486	3,923	2,630	4,674	4,917
EBITDA ¹	135.3	125.7	129.5	-	42.84	229	263
EBIT ¹	90.05	78.57	58.63	68.7	-11.9	175	208
Operating Margin	2.88%	2.43%	1.68%	1.75%	-0.45%	3.74%	4.23%
Earnings before Tax (EBT)	98.92	-	-	-	-	-	-
Net income	54.64	-	-	-	-	-	-
Net margin	1.75%	-	-	-	-	-	-
EPS	961.4	-	-	-	-	-	-
Free Cash Flow ²	45,040	57,193	-	-	-	21,000	70,000
FCF margin	1,441.59%	1,766.04%	-	-	-	449.29%	1,423.63%
FCF Conversion (EBITDA)	33,281.39%	45,507.89%	-	-	-	9,170.31%	26,615.97%
FCF Conversion (Net income)	82,424.65%	-	-	-	-	-	-
Dividend per Share ³	321.5	321.5	321.5	210.0	-	250.0	270.0
Announcement Date	2/11/20	2/8/21	2/14/22	2/14/23	2/8/24	-	-

¹KRW in Billions²KRW in Million³KRW

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	509.1	1,097	1,126	1,125	1,177	1,247
EBITDA	-	-	-	-	-	-
EBIT ¹	-	-22.4	65	36	49	25
Operating Margin	-	-2.04%	5.77%	3.2%	4.16%	2%
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income	845.4	-	-	-	-	-
Net margin	166.06%	-	-	-	-	-
EPS	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	11/8/23	2/8/24	-	-	-	-

¹KRW in Billions

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	74	42
Net Cash position ¹	329	333	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	0.3231 x	0.1597 x
Free Cash Flow ²	45,040	57,193	-	-	-	21,000	70,000
ROE (net income / shareholders' equity)	3.2%	3.52%	1.85%	2.26%	38.9%	7.1%	7.6%
ROA (Net income/ Total Assets)	1.89%	2.51%	-	-	-	3.8%	4.1%
Assets	2,894	-	-	-	-	-	-
Book Value Per Share ³	30,110	31,232	32,002	20,867	-	17,661	18,792
Cash Flow per Share	3,106	2,936	270.0	93.00	-	-	-
Capex ¹	132	110	-	-	-	70	74
Capex / Sales	4.23%	3.4%	-	-	-	1.5%	1.5%
Announcement Date	2/11/20	2/8/21	2/14/22	2/14/23	2/8/24	-	-

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

Ratings for Hyundai G.F. Holdings Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

4,710 KRW

Average target price

7,600 KRW

Spread / Average Target

+61.36%

Consensus

Quarterly revenue - Rate of surprise

Company calendar

Sector Furniture

	1st Jan change	Capi.
HYUNDAI G.F. HOLDINGS CO., LTD.	+29.40%	533M
TEMPUR SEALY INTERNATIONAL, INC.	-2.06%	8.67B
JASON FURNITURE (HANGZHOU) CO.,LTD.	-4.20%	3.79B
SUOFEIYA HOME COLLECTION CO., LTD.	+5.08%	2.22B
DE RUCCI HEALTHY SLEEP CO., LTD.	+6.69%	1.8B
LA-Z-BOY INCORPORATED	-10.32%	1.41B
SHEELA FOAM LIMITED	-24.99%	1.18B
MOTOMOTION CHINA CORPORATION	+28.08%	1.13B
XILINMEN FURNITURE CO.,LTD	+4.35%	928M
HENGLIN HOME FURNISHINGS CO.,LTD	-2.98%	816M

Furniture