Financials Dongsung FineTec Co., Ltd.

Equities

A033500

KR7033500000

Commodity Chemicals

End-of-day quote Korea S.E. Other stock markets 18:00:00 2024-05-12 EDT			5-day change	1st Jan Change
13,560 ^KRW	+3.91%		+7.62%	+10.97%

03-21	Dongsung FineTec Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Dongsung FineTec Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	280,985	311,812	322,560	312,563	354,785	393,689	-
Enterprise Value (EV) ²	362.1	314.7	405.9	312.6	359.6	394.9	356.9
P/E ratio	17.1 x	15.1 x	12.4 x	34.9 x	12.4 x	11.5 x	8.56 x
Yield	-	1.89%	3.04%	3.23%	2.05%	2.58%	2.58%
Capitalization / Revenue	1.11 x	0.8 x	0.88 x	0.72 x	0.67 x	0.67 x	0.6 x
EV / Revenue	1.43 x	0.81 x	1.11 x	0.72 x	0.68 x	0.67 x	0.54 x
EV / EBITDA	10.8 x	8.04 x	11 x	14.4 x	7.7 x	6.86 x	4.85 x
EV / FCF	-28.6 x	5.74 x	-38.3 x	62.5 x	7.33 x	11.9 x	6.76 x
FCF Yield	-3.49%	17.4%	-2.61%	1.6%	13.7%	8.43%	14.8%
Price to Book	2.96 x	2.82 x	2.35 x	2.17 x	2.1 x	2.11 x	1.76 x
Nbr of stocks (in thousands)	26,634	26,537	28,049	28,808	29,033	29,033	-
Reference price ³	10,550	11,750	11,500	10,850	12,220	13,560	13,560
Announcement Date	20-02-27	21-03-09	22-03-22	23-03-16	24-03-13	-	-

¹KRW in Million²KRW in Billions³KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	253.3	388	365	434.2	531.4	587.2	660.6
EBITDA ¹	33.67	39.15	37.03	21.67	46.71	57.56	73.56
EBIT ¹	26.94	31.98	30.18	15.28	37.34	47.6	65.57
Operating Margin	10.64%	8.24%	8.27%	3.52%	7.03%	8.11%	9.93%
Earnings before Tax (EBT) ¹	18.13	22.54	33.65	13.92	36.88	45.45	62.1
Net income ¹	16.88	21.28	26.46	9.082	28.75	35.45	47.38
Net margin	6.66%	5.48%	7.25%	2.09%	5.41%	6.04%	7.17%
EPS ²	616.0	780.0	927.0	311.0	982.0	1,184	1,584
Free Cash Flow ³	-12,647	54,839	-10,611	5,004	49,095	33,300	52,800
FCF margin	-4,993.48%	14,134.27%	-2,906.69%	1,152.5%	9,238.56%	5,670.5%	7,993.14%
FCF Conversion (EBITDA)	-	140,091.64%	-	23,087.89%	105,110.82%	57,849.33%	71,774.89%
FCF Conversion (Net income)	-	257,728.83%	-	55,091.38%	170,785.98%	93,935.12%	111,439.43%
Dividend per Share ²	-	222.5	350.0	350.0	250.0	350.0	350.0
Announcement Date	20-02-27	21-03-09	22-03-22	23-03-16	24-03-13	-	-

¹KRW in Billions²KRW³KRW in Million

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	70.59	105.3	107.9	-	124.3	139	140.4	143.8	146.7	156.1	164
EBITDA	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	5.366	5.06	1.304	-	12.13	-	10.9	11.7	12.4	14.3	16.3
Operating Margin	7.6%	4.81%	1.21%	-	9.76%	-	7.76%	8.14%	8.45%	9.16%	9.94%
Earnings before Tax (EBT)	6.38	6.554	2.193	-	-	-	-	-	-	-	-
Net income	5.737	5.113	0.4284	8.009	-	-	-	-	-	-	-
Net margin	8.13%	4.86%	0.4%	-	-	-	-	-	-	-	-
EPS	-	-	-	273.0	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	21-11-15	22-03-22	22-05-16	23-08-11	23-11-14	24-03-13	-	-	-	-	-

¹KRW in Billions

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	81.1	2.87	83.4	-	4.86	1.2	-
Net Cash position ¹	-	-	-	-	-	-	36.8
Leverage (Debt/EBITDA)	2.408 x	0.0734 x	2.251 x	-	0.104 x	0.0208 x	-
Free Cash Flow ²	-12,647	54,839	-10,611	5,004	49,095	33,300	52,800
ROE (net income / shareholders' equity)	21.4%	20.8%	21%	6.24%	18.1%	20.1%	22.7%
ROA (Net income/ Total Assets)	7.8%	8.35%	9.78%	2.64%	8.12%	8.85%	11%
Assets ¹	216.5	254.8	270.7	344.5	354.1	400.6	429.4
Book Value Per Share ³	3,563	4,169	4,897	4,993	5,816	6,419	7,693
Cash Flow per Share ³	-202.0	-	-184.0	-	2,211	1,548	2,114
Capex ¹	7.12	7.43	4.99	4.73	15.6	13	6
Capex / Sales	2.81%	1.91%	1.37%	1.09%	2.94%	2.21%	0.91%
Announcement Date	20-02-27	21-03-09	22-03-22	23-03-16	24-03-13	-	-

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 Dongsung FineTec Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13,560 KRW

Average target price

17,000 KRW

Spread / Average Target

+25.37%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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