Company Valuation: CJ Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,675,258 2,693,920 2,967,314 3,141,916 5,498,333 4,188,483 - -
Change - 0.7% 10.15% 5.88% 75% -23.82% - -
Enterprise Value (EV) 1 15,552 17,360 12,660 14,354 20,760 19,209 19,244 17,494
Change - 11.62% -27.07% 13.38% 44.63% -7.47% 0.18% -9.09%
P/E 10.2x 14x 16.3x 33.1x 40.3x 12.6x 8.77x 8.34x
PBR 0.45x 0.58x 0.57x 0.61x 1.11x 0.83x 0.79x 0.78x
PEG - -0.5x -4.52x -0.7x 0.9x 0x 0.2x 1.61x
Capitalization / Revenue 0.08x 0.07x 0.07x 0.07x 0.12x 0.09x 0.09x 0.08x
EV / Revenue 0.45x 0.42x 0.31x 0.33x 0.46x 0.41x 0.39x 0.34x
EV / EBITDA 3.6x 3.22x 2.48x 2.29x 4.1x 3.06x 3.06x 2.8x
EV / EBIT 8.26x 8.06x 6.21x 5.63x 8.21x 7.69x 6.55x 5.66x
EV / FCF 8.21x 8.16x 3.58x 4.12x 7.83x 2.57x 4.99x 3.93x
FCF Yield 12.2% 12.3% 27.9% 24.3% 12.8% 39% 20% 25.5%
Dividend per Share 3 2,300 2,500 3,000 3,000 3,300 3,333 3,475 3,700
Rate of return 2.76% 2.97% 3.18% 3.03% 1.92% 2.58% 2.69% 2.86%
EPS 3 8,197 6,023 5,806 2,993 4,271 10,307 14,747 15,513
Distribution rate 28.1% 41.5% 51.7% 100% 77.3% 32.3% 23.6% 23.9%
Net sales 1 34,484 40,925 41,353 43,647 45,019 47,352 48,953 50,975
EBITDA 1 4,317 5,388 5,099 6,268 5,065 6,267 6,292 6,243
EBIT 1 1,882 2,154 2,039 2,547 2,528 2,499 2,939 3,091
Net income 1 275 202.1 524.7 100.5 143.3 328.2 397 395.9
Net Debt 1 12,877 14,666 9,692 11,212 15,262 15,021 15,056 13,306
Reference price 3 83,400.00 84,100.00 94,400.00 99,100.00 172,000.00 129,400.00 129,400.00 129,400.00
Nbr of stocks (in thousands) 33,531 33,531 33,531 33,531 33,531 33,531 - -
Announcement Date 2/14/22 2/13/23 2/13/24 3/18/25 3/18/26 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.35x2.78x13.85x4.07% 242B
19.15x2.42x14.45x3.42% 76.8B
16.02x1.69x9.53x3.9% 44.46B
15.44x0.55x9.86x2.54% 40.19B
20.33x3.1x12.58x3.44% 33.74B
33.6x2.92x16.98x1.1% 29.73B
-8.59x1.86x9.28x6.58% 28.9B
64.81x9.95x41.24x1.18% 28.16B
11.48x0.38x8.58x2.56% 21.63B
Average 21.40x 2.85x 15.15x 3.2% 60.57B
Weighted average by Cap. 20.60x 2.73x 14.34x 3.58%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

-40%: Exceptional extension
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