Financials S-1 Corporation

Equities

A012750

KR7012750006

Communications & Networking

End-of-day quote Korea S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
61,700 KRW -1.12% Intraday chart for S-1 Corporation +2.83% +2.83%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,168,019 2,873,870 2,498,577 2,004,947 2,028,614 2,086,092 - -
Enterprise Value (EV) 2 2,768 2,417 1,958 1,624 2,029 1,479 1,364 1,367
P/E ratio 21.6 x 20.2 x 19.4 x 13.3 x 10.7 x 12.8 x 12 x -
Yield 2.67% 2.94% 3.38% 4.22% - 4.32% 4.4% 4.86%
Capitalization / Revenue 1.47 x 1.29 x 1.08 x 0.81 x 0.77 x 0.75 x 0.72 x 0.65 x
EV / Revenue 1.29 x 1.09 x 0.85 x 0.66 x 0.77 x 0.53 x 0.47 x 0.43 x
EV / EBITDA 7.71 x 6.53 x 5.61 x 4.33 x 5.24 x 3.75 x 3.63 x -
EV / FCF 21.8 x 11.7 x 11 x 11.6 x - 7.41 x 6.09 x -
FCF Yield 4.59% 8.52% 9.07% 8.65% - 13.5% 16.4% -
Price to Book 2.39 x 2.08 x 1.73 x 1.32 x - 1.33 x 1.25 x -
Nbr of stocks (in thousands) 33,810 33,810 33,810 33,810 33,810 33,810 - -
Reference price 3 93,700 85,000 73,900 59,300 60,000 61,700 61,700 61,700
Announcement Date 1/31/20 1/27/21 1/28/22 1/31/23 1/26/24 - - -
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 2,152 2,223 2,312 2,468 2,621 2,770 2,917 3,215
EBITDA 1 358.8 370.3 348.7 375.3 387.2 394.2 375.4 -
EBIT 1 196.8 204.5 179.7 204.1 212.6 225.7 240.6 267
Operating Margin 9.15% 9.2% 7.77% 8.27% 8.11% 8.15% 8.25% 8.3%
Earnings before Tax (EBT) 1 192.5 187.4 170.7 200.8 216.3 228.9 244.9 265
Net income 1 146.6 142.1 129 151 189.5 173.6 185.7 202
Net margin 6.82% 6.39% 5.58% 6.12% 7.23% 6.27% 6.37% 6.28%
EPS 2 4,337 4,203 3,815 4,467 5,604 4,807 5,140 -
Free Cash Flow 3 127,061 205,885 177,633 140,497 - 199,680 223,950 -
FCF margin 5,905.63% 9,260.16% 7,681.48% 5,692.85% - 7,209.11% 7,678.59% -
FCF Conversion (EBITDA) 35,409.69% 55,593% 50,937.34% 37,435.55% - 50,651.92% 59,659.02% -
FCF Conversion (Net income) 86,647.43% 144,896.5% 137,708.83% 93,024.89% - 115,023.04% 120,616.3% -
Dividend per Share 2 2,500 2,500 2,500 2,500 - 2,662 2,712 3,000
Announcement Date 1/31/20 1/27/21 1/28/22 1/31/23 1/26/24 - - -
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 1 573.8 595.7 590.5 625.5 621.9 630.1 632.6 648.7 645.4 694.1 675.8 691.1 690.1 715.5
EBITDA 93.68 53.99 - 95.94 55.49 80.92 - 98.05 97.29 86.05 - - - -
EBIT 1 51.25 11.59 - 53.3 55.45 37.65 62.51 54.54 53.51 42.05 60.62 58.68 57.53 49.53
Operating Margin 8.93% 1.95% - 8.52% 8.92% 5.98% 9.88% 8.41% 8.29% 6.06% 8.97% 8.49% 8.34% 6.92%
Earnings before Tax (EBT) 1 48.97 7.307 - - - 36.69 63.09 54.2 55.22 43.75 62.4 59.4 60.3 49
Net income 1 37.26 4.381 42.13 39.07 41.79 28.13 48.08 41.07 42.43 57.9 48.9 44.63 44.67 35.63
Net margin 6.49% 0.74% 7.14% 6.25% 6.72% 4.46% 7.6% 6.33% 6.57% 8.34% 7.24% 6.46% 6.47% 4.98%
EPS - - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 10/29/21 1/28/22 4/28/22 7/28/22 10/28/22 1/31/23 4/28/23 7/28/23 10/27/23 1/26/24 - - - -
1KRW in Billions
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 400 457 541 380 - 607 722 719
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 2 127,061 205,885 177,633 140,497 - 199,680 223,950 -
ROE (net income / shareholders' equity) 11.3% 10.5% 9.13% 10.2% - 10.4% 10.9% 11.1%
ROA (Net income/ Total Assets) 8.43% 7.68% 6.65% 7.46% - 7.7% 7.93% 8.1%
Assets 1 1,739 1,850 1,940 2,024 - 2,255 2,343 2,494
Book Value Per Share 3 39,266 40,940 42,676 45,045 - 46,402 49,177 -
Cash Flow per Share 3 8,277 10,247 9,858 8,206 - 9,177 9,678 -
Capex 1 153 141 156 137 - 157 152 137
Capex / Sales 7.1% 6.32% 6.73% 5.55% - 5.67% 5.2% 4.26%
Announcement Date 1/31/20 1/27/21 1/28/22 1/31/23 1/26/24 - - -
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
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
61,700 KRW
Average target price
73,825 KRW
Spread / Average Target
+19.65%
Consensus

Quarterly revenue - Rate of surprise

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