Company Valuation: HD Korea Shipbuilding & Offshore Engineering Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 7,672,537 6,689,604 4,999,524 8,549,399 16,122,936 30,301,219 30,301,219 -
Change - -12.81% -25.26% 71% 88.59% 87.94% 0% -
Enterprise Value (EV) 1 10,395 16,341 6,284 9,546 14,305 24,444 21,754 18,209
Change - 57.2% -61.55% 51.91% 49.86% 70.87% -11% -16.29%
P/E ratio -9.2x -7.2x -23x 38.6x 13.8x 12.6x 8.93x 7.5x
PBR 0.7x 0.68x 0.51x 0.86x 1.45x 2.31x 1.91x 1.61x
PEG - -0.6x 0.3x -0x 0x 0x 0.2x 0.4x
Capitalization / Revenue 0.51x 0.43x 0.29x 0.4x 0.63x 1.01x 0.92x 0.86x
EV / Revenue 0.7x 1.05x 0.36x 0.45x 0.56x 0.81x 0.66x 0.51x
EV / EBITDA 21.5x -16.6x 95.8x 12.7x 7.3x 5.44x 3.79x 2.68x
EV / EBIT 140x -11.8x -17.7x 33.8x 9.98x 6.14x 4.23x 2.94x
EV / FCF -22.2x 36.1x -30.7x 7.58x 4.21x 6.23x 6.58x 4x
FCF Yield -4.51% 2.77% -3.26% 13.2% 23.8% 16% 15.2% 25%
Dividend per Share 3 - - - - - 8,984 13,308 15,608
Rate of return - - - - - 2.1% 3.11% 3.64%
EPS 3 -11,791 -13,142 -3,068 3,135 16,578 33,887 47,978 57,144
Distribution rate - - - - - 26.5% 27.7% 27.3%
Net sales 1 14,904 15,493 17,302 21,296 25,539 29,993 32,903 35,399
EBITDA 1 483.5 -986.1 65.62 754.2 1,960 4,495 5,745 6,804
EBIT 1 74.4 -1,385 -355.6 282.3 1,434 3,980 5,144 6,185
Net income 1 -833.8 -1,141 -216.9 144.9 1,455 2,435 3,437 4,098
Net Debt 1 2,723 9,652 1,284 996.4 -1,818 -5,858 -8,547 -12,092
Reference price 3 108,500.00 94,600.00 70,700.00 120,900.00 228,000.00 428,500.00 428,500.00 428,500.00
Nbr of stocks (in thousands) 70,715 70,715 70,715 70,715 70,715 70,715 70,715 -
Announcement Date 2/4/21 2/7/22 2/7/23 1/23/24 1/23/25 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.07x0.85x5.67x2.03% 21.21B
24.1x0.96x13.78x1.29% 38.46B
47.11x3.82x33.11x-.--% 30.52B
40.46x2.71x25.42x0.17% 17.84B
8.99x1.84x5.42x4.35% 10.67B
54.01x0.88x12.02x-.--% 7.29B
50.18x1.87x18.36x0.85% 7.1B
21.44x0.8x9.11x1.17% 5.6B
Average 32.42x 1.72x 15.36x 1.23% 17.34B
Weighted average by Cap. 31.22x 1.90x 17.60x 1.12%
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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

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  4. Valuation HD Korea Shipbuilding & Offshore Engineering Co., Ltd.