Financials Soop Co., Ltd.

Equities

A067160

KR7067160002

Internet Services

End-of-day quote Korea S.E. Other stock markets 06:00:00 2024-05-12 pm EDT			5-day change	1st Jan Change
104,600 ^KRW	-2.24%		-5.94%	+22.20%

May. 01	SOOP Sees 48% Rise in Q1 Profit	MT
Apr. 29	Transcript : AfreecaTV Co., Ltd., Q1 2024 Earnings Call, Apr 29, 2024

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	753,201	657,857	2,234,393	775,601	921,321	1,147,406	-	-
Enterprise Value (EV) ²	696.3	571.5	2,121	643.8	921.3	811.3	699.2	610.9
P/E ratio	22.4 x	17.6 x	32.1 x	13.2 x	-	12.8 x	11.4 x	9.8 x
Yield	0.8%	0.91%	0.36%	1.03%	-	0.83%	0.89%	0.93%
Capitalization / Revenue	4.49 x	3.35 x	8.21 x	2.46 x	2.65 x	2.7 x	2.42 x	2.12 x
EV / Revenue	4.15 x	2.91 x	7.79 x	2.04 x	2.65 x	1.91 x	1.48 x	1.13 x
EV / EBITDA	14.7 x	8.92 x	20.5 x	6.48 x	-	5.97 x	4.67 x	3.66 x
EV / FCF	14.2 x	10.8 x	17.1 x	7.46 x	-	6.85 x	5.71 x	4.57 x
FCF Yield	7.04%	9.28%	5.85%	13.4%	-	14.6%	17.5%	21.9%
Price to Book	6.29 x	4.49 x	10.6 x	3.22 x	-	3.14 x	2.51 x	2.02 x
Nbr of stocks (in thousands)	10,932	10,874	11,023	10,909	10,763	10,723	-	-
Reference price ³	68,900	60,500	202,700	71,100	85,600	107,000	107,000	107,000
Announcement Date	2/11/20	2/8/21	2/9/22	2/9/23	2/14/24	-	-	-

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	167.9	196.6	272.3	315	347.6	424.2	473.4	541.9
EBITDA ¹	47.44	64.08	103.6	99.38	-	136	149.7	167
EBIT ¹	36.73	50.41	88.82	82.42	90.31	115.8	128.8	149.5
Operating Margin	21.88%	25.65%	32.62%	26.17%	25.98%	27.29%	27.21%	27.58%
Earnings before Tax (EBT) ¹	41.94	47.54	89.06	82.57	96.07	123.6	138.4	159
Net income ¹	34.37	36.37	71.02	59.74	74.54	94.5	107	123.5
Net margin	20.47%	18.51%	26.08%	18.97%	21.44%	22.28%	22.6%	22.79%
EPS ²	3,082	3,441	6,313	5,372	-	8,364	9,425	10,918
Free Cash Flow ³	49,041	53,013	124,047	86,339	-	118,410	122,418	133,667
FCF margin	29,213.92%	26,969.58%	45,556.09%	27,411.34%	-	27,914.97%	25,857.63%	24,668.39%
FCF Conversion (EBITDA)	103,368.54%	82,732.08%	119,789.64%	86,879.53%	-	87,065.08%	81,787.24%	80,057.59%
FCF Conversion (Net income)	142,681.67%	145,741.41%	174,659.92%	144,522.89%	-	125,300.59%	114,389.13%	108,230.37%
Dividend per Share ²	550.0	552.9	730.0	730.0	-	886.1	947.9	997.3
Announcement Date	2/11/20	2/8/21	2/9/22	2/9/23	2/14/24	-	-	-

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	2025 Q1
Net sales ¹	71.05	75.4	75.3	77.95	81.84	79.89	72.7	86.67	87.88	100.4	94.99	104.1	107	117.9	113.1
EBITDA ¹	-	-	-	-	-	-	-	28.4	-	-	27.47	33.74	35.28	36.81	-
EBIT ¹	23.11	24.59	23.12	23.19	20.65	15.45	18.38	23.63	21.9	26.4	28.67	27.83	28	30.69	33.4
Operating Margin	32.53%	32.61%	30.7%	29.75%	25.24%	19.34%	25.29%	27.27%	24.92%	26.3%	30.18%	26.73%	26.17%	26.04%	29.53%
Earnings before Tax (EBT) ¹	25.21	23.08	24.12	23.2	22.59	12.49	21.75	27.31	24.66	22.42	31.69	31.62	30.8	31.77	37.1
Net income ¹	19.75	16.82	19.6	19.56	17.17	3.199	16.65	22.79	19.32	15.85	24.69	24.41	23.91	23.62	28.9
Net margin	27.8%	22.31%	26.03%	25.1%	20.98%	4%	22.9%	26.29%	21.98%	15.8%	26%	23.44%	22.35%	20.04%	25.55%
EPS	-	1,471	1,724	-	-	-	-	-	-	-	-	2,051	2,155	2,166	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	10/29/21	2/9/22	4/28/22	7/29/22	10/28/22	2/9/23	4/28/23	7/31/23	10/31/23	2/14/24	4/29/24	-	-	-	-

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	56.9	86.4	114	132	-	336	448	536
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ²	49,041	53,013	124,047	86,339	-	118,410	122,418	133,667
ROE (net income / shareholders' equity)	32.5%	27%	39.8%	26.5%	-	28.6%	25.1%	23.2%
ROA (Net income/ Total Assets)	17.8%	14%	20.3%	13.7%	-	15.4%	14.8%	13.8%
Assets ¹	193	260.4	350.1	436.6	-	612.5	723.6	895.1
Book Value Per Share ³	10,947	13,485	19,053	22,109	-	34,089	42,572	52,955
Cash Flow per Share ³	5,455	6,516	11,851	9,073	-	11,899	12,904	14,449
Capex ¹	11.8	19.3	9.42	14.6	-	16.9	17.1	14.8
Capex / Sales	7.03%	9.82%	3.46%	4.63%	-	3.98%	3.61%	2.74%
Announcement Date	2/11/20	2/8/21	2/9/22	2/9/23	2/14/24	-	-	-

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 Soop Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

107,000 KRW

Average target price

151,450 KRW

Spread / Average Target

+41.54%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Internet Services

	1st Jan change	Capi.
SOOP CO., LTD.	+25.00%	838M
TENCENT HOLDINGS LIMITED	+28.20%	441B
NETFLIX, INC.	+25.47%	263B
UBER TECHNOLOGIES, INC.	+8.80%	140B
AIRBNB, INC.	+7.48%	92.89B
PROSUS N.V.	+26.66%	90.53B
SPOTIFY TECHNOLOGY S.A.	+56.78%	58.64B
DOORDASH, INC.	+16.13%	46.96B
COSTAR GROUP, INC.	+2.85%	36.7B
NASPERS LIMITED	+20.84%	36.11B

Other Internet Services