Company Valuation: Korea Gas Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,355,834 3,106,936 2,119,926 3,028,458 3,429,925 3,185,553 - -
Change - -7.42% -31.77% 42.86% 13.26% -7.12% - -
Enterprise Value (EV) 1 30,980 47,177 40,196 48,943 45,111 36,584 36,075 31,987
Change - 52.28% -14.8% 21.76% -7.83% -18.9% -1.39% -11.33%
P/E 3.56x 2.24x -2.76x 2.79x 27.3x 2.82x 3.65x 3.16x
PBR 0.38x 0.3x 0.22x 0.28x 0.32x 0.29x 0.27x 0.26x
PEG - 0x 0x -0x -0.3x 0x -0.2x 0.2x
Capitalization / Revenue 0.12x 0.06x 0.05x 0.08x 0.1x 0.09x 0.09x 0.08x
EV / Revenue 1.13x 0.91x 0.9x 1.27x 1.26x 1.04x 1x 0.85x
EV / EBITDA 10.5x 11.2x 11.7x 9.82x 11.2x 8.46x 8.76x 7.32x
EV / EBIT 25x 19.2x 25.9x 16.3x 21.5x 15.5x 16.5x 13.4x
EV / FCF -9.6x -2.99x 8.83x 24.9x 9.91x 20.5x 15.3x 13.4x
FCF Yield -10.4% -33.4% 11.3% 4.01% 10.1% 4.89% 6.53% 7.45%
Dividend per Share 3 2,728 - - - - 2,122 1,929 2,663
Rate of return 6.98% - - - - 5.81% 5.28% 7.3%
EPS 3 10,973 16,174 -8,949 12,422 1,441 12,941 10,009 11,539
Distribution rate 24.9% - - - - 16.4% 19.3% 23.1%
Net sales 1 27,521 51,724 44,556 38,389 35,727 35,044 36,246 37,518
EBITDA 1 2,962 4,215 3,441 4,986 4,025 4,322 4,120 4,373
EBIT 1 1,240 2,463 1,553 3,003 2,101 2,357 2,185 2,387
Net income 1 950.8 1,493 -761.2 1,147 133 1,032 873.1 977.5
Net Debt 1 27,624 44,070 38,076 45,914 41,682 33,399 32,889 28,801
Reference price 3 39,100.00 36,200.00 24,700.00 34,700.00 39,300.00 36,500.00 36,500.00 36,500.00
Nbr of stocks (in thousands) 85,827 85,827 85,827 87,275 87,275 87,275 - -
Announcement Date 2/25/22 2/24/23 2/27/24 2/21/25 2/26/26 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
2.75x1.04x8.45x5.95% 2.25B
13.57x2.02x7.3x6.2% 31.85B
19.7x7.57x14.58x2.41% 28.2B
14.54x1.28x8.98x2.34% 13.28B
16.28x1.06x7.68x1.97% 12.66B
11.61x0.91x9.14x3.94% 11.82B
43.84x8.41x11.83x5.62% 9.98B
18.85x5.11x9.38x4.15% 8.62B
11.25x4.01x6.77x2.62% 7.84B
Average 16.93x 3.49x 9.35x 3.91% 14.05B
Weighted average by Cap. 17.54x 3.80x 9.80x 3.9%

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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