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 3,107,005 - -
Change - -7.42% -31.77% 42.86% 13.26% -9.41% - -
Enterprise Value (EV) 1 30,980 47,177 40,196 48,943 45,111 36,208 35,602 32,082
Change - 52.28% -14.8% 21.76% -7.83% -19.74% -1.68% -9.89%
P/E 3.56x 2.24x -2.76x 2.79x 27.3x 2.9x 3.46x 3.07x
PBR 0.38x 0.3x 0.22x 0.28x 0.32x 0.28x 0.27x 0.25x
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 0.08x 0.08x
EV / Revenue 1.13x 0.91x 0.9x 1.27x 1.26x 1x 0.95x 0.84x
EV / EBITDA 10.5x 11.2x 11.7x 9.82x 11.2x 8.29x 8.48x 7.41x
EV / EBIT 25x 19.2x 25.9x 16.3x 21.5x 14.7x 15.8x 13.4x
EV / FCF -9.6x -2.99x 8.83x 24.9x 9.91x 18.3x 21x 15.6x
FCF Yield -10.4% -33.4% 11.3% 4.01% 10.1% 5.47% 4.76% 6.42%
Dividend per Share 3 2,728 - - - - 1,668 1,978 2,663
Rate of return 6.98% - - - - 4.69% 5.56% 7.48%
EPS 3 10,973 16,174 -8,949 12,422 1,441 12,282 10,293 11,579
Distribution rate 24.9% - - - - 13.6% 19.2% 23%
Net sales 1 27,521 51,724 44,556 38,389 35,727 36,109 37,404 38,156
EBITDA 1 2,962 4,215 3,441 4,986 4,025 4,369 4,196 4,330
EBIT 1 1,240 2,463 1,553 3,003 2,101 2,462 2,258 2,394
Net income 1 950.8 1,493 -761.2 1,147 133 1,019 899.2 995.7
Net Debt 1 27,624 44,070 38,076 45,914 41,682 33,101 32,495 28,975
Reference price 3 39,100.00 36,200.00 24,700.00 34,700.00 39,300.00 35,600.00 35,600.00 35,600.00
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
2.92x1x8.29x4.66% 2.3B
13.51x2.01x7.29x6.2% 31.26B
18.58x7.23x13.85x2.56% 26.59B
15.52x1.38x9.73x2.14% 14.67B
16.41x1.08x7.53x1.9% 13.25B
11.6x0.91x9.13x3.94% 11.82B
45.67x8.56x12.02x5.39% 10.31B
18.61x5.05x9.27x4.21% 8.39B
11.07x3.95x6.69x2.72% 7.6B
Average 17.10x 3.46x 9.31x 3.75% 14.02B
Weighted average by Cap. 17.57x 3.67x 9.66x 3.86%

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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