Financials LG Chem, Ltd. Korea S.E.

Equities

A051915

KR7051911006

Commodity Chemicals

End-of-day quote Korea S.E. Other stock markets 18:00:00 2024-05-16 EDT			5-day change	1st Jan Change
259,000 ^KRW	-0.58%		-0.96%	-16.72%

05-02	LG Chem's Profit Plunges in Q1	MT
05-02	LG Chem, Alkhorayef Group Collaborate to Offer Advanced Water Solutions in Saudi Arabia	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	23,215,757	60,124,057	45,386,506	44,266,854	37,614,917	30,085,587	-	-
Enterprise Value (EV) ²	29,709	67,036	56,391	51,733	50,458	47,175	50,682	51,360
P/E ratio	77.7 x	69.1 x	13.1 x	25.3 x	29.2 x	16.5 x	8.43 x	5.41 x
Yield	0.63%	1.21%	1.95%	1.67%	0.7%	1.07%	1.96%	2.42%
Capitalization / Revenue	0.81 x	2 x	1.06 x	0.85 x	0.68 x	0.54 x	0.45 x	0.38 x
EV / Revenue	1.04 x	2.23 x	1.32 x	1 x	0.91 x	0.85 x	0.75 x	0.65 x
EV / EBITDA	10.8 x	14.4 x	7.17 x	8.09 x	7.78 x	6.11 x	4.43 x	3.39 x
EV / FCF	-9.53 x	220 x	-214 x	-6.6 x	-9.3 x	-9.44 x	-17.5 x	19.5 x
FCF Yield	-10.5%	0.46%	-0.47%	-15.1%	-10.7%	-10.6%	-5.72%	5.12%
Price to Book	1.46 x	3.5 x	1.99 x	1.34 x	1.09 x	0.89 x	0.82 x	0.71 x
Nbr of stocks (in thousands)	76,612	77,086	77,891	77,908	78,275	78,275	-	-
Reference price ³	317,500	824,000	615,000	600,000	499,000	398,000	398,000	398,000
Announcement Date	2/2/20	1/27/21	2/8/22	1/31/23	1/19/24	-	-	-

¹KRW in Million²KRW in Billions³KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	28,625	30,057	42,655	51,865	55,250	55,296	67,534	79,218
EBITDA ¹	2,754	4,665	7,866	6,392	6,487	7,722	11,438	15,157
EBIT ¹	895.6	2,353	5,025	2,996	2,529	3,079	6,258	9,811
Operating Margin	3.13%	7.83%	11.78%	5.78%	4.58%	5.57%	9.27%	12.39%
Earnings before Tax (EBT) ¹	560.6	1,503	4,891	2,813	2,498	2,761	5,589	8,171
Net income ¹	313.4	916.9	3,670	1,845	1,338	1,757	3,478	5,429
Net margin	1.09%	3.05%	8.6%	3.56%	2.42%	3.18%	5.15%	6.85%
EPS ²	4,085	11,926	47,108	23,670	17,086	24,080	47,207	73,517
Free Cash Flow ³	-3,117,102	305,041	-263,777	-7,836,408	-5,423,429	-4,996,577	-2,898,465	2,630,933
FCF margin	-10,889.42%	1,014.86%	-618.4%	-15,109.27%	-9,816.2%	-9,036.11%	-4,291.84%	3,321.14%
FCF Conversion (EBITDA)	-	6,538.93%	-	-	-	-	-	17,357.98%
FCF Conversion (Net income)	-	33,270.36%	-	-	-	-	-	48,464.37%
Dividend per Share ²	2,000	10,000	12,000	10,000	3,500	4,253	7,794	9,641
Announcement Date	2/2/20	1/27/21	2/8/22	1/31/23	1/19/24	-	-	-

¹KRW in Billions²KRW³KRW in Million

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	10,610	10,949	11,608	12,240	14,178	13,852	14,486	14,542	13,495	13,135	11,609	12,933	14,516	15,975	16,289
EBITDA ¹	1,466	1,534	-	1,697	1,777	1,099	-	1,597	1,860	1,309	1,342	1,710	2,258	2,734	-
EBIT ¹	726.6	748.4	1,024	878.5	901.2	191.3	791	615.6	860.4	247.4	264.6	560.7	1,056	1,274	1,418
Operating Margin	6.85%	6.84%	8.82%	7.18%	6.36%	1.38%	5.46%	4.23%	6.38%	1.88%	2.28%	4.34%	7.28%	7.98%	8.71%
Earnings before Tax (EBT) ¹	737.5	511.7	1,024	942.8	925.8	-79.33	916	780.5	576.2	217.8	323.3	416.3	895.8	1,106	1,095
Net income ¹	610.1	262.7	688.2	659.3	614.4	-116.5	474.2	524.9	420.2	-81.44	136.7	266.5	547.3	648.7	757.9
Net margin	5.75%	2.4%	5.93%	5.39%	4.33%	-0.84%	3.27%	3.61%	3.11%	-0.62%	1.18%	2.06%	3.77%	4.06%	4.65%
EPS ²	7,832	3,369	8,853	8,462	7,885	-1,509	6,072	6,700	5,364	-1,087	1,742	4,708	8,494	8,845	11,094
Dividend per Share ²	-	12,000	-	-	-	10,000	-	-	-	3,500	-	-	-	4,712	-
Announcement Date	10/25/21	2/8/22	4/27/22	7/27/22	10/31/22	1/31/23	4/26/23	7/27/23	10/30/23	1/19/24	4/30/24	-	-	-	-

¹KRW in Billions²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	6,493	6,912	11,005	7,467	12,843	17,089	20,596	21,275
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.358 x	1.482 x	1.399 x	1.168 x	1.98 x	2.213 x	1.801 x	1.404 x
Free Cash Flow ²	-3,117,102	305,041	-263,777	-7,836,408	-5,423,429	-4,996,577	-2,898,465	2,630,933
ROE (net income / shareholders' equity)	2.2%	5.94%	18.8%	7.24%	5.24%	4.98%	9.45%	12.7%
ROA (Net income/ Total Assets)	1.2%	2.88%	7.9%	3.1%	1.84%	2.65%	4.94%	7.19%
Assets ¹	26,114	31,801	46,453	59,555	72,720	66,361	70,348	75,533
Book Value Per Share ³	217,230	235,644	308,946	447,618	456,035	447,956	487,060	562,301
Cash Flow per Share ³	33,940	76,003	78,467	8,111	96,274	95,569	122,226	160,904
Capex ¹	6,238	5,300	5,774	8,406	12,960	12,469	11,873	11,795
Capex / Sales	21.79%	17.63%	13.54%	16.21%	23.46%	22.55%	17.58%	14.89%
Announcement Date	2/2/20	1/27/21	2/8/22	1/31/23	1/19/24	-	-	-

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 LG Chem, Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

398,000 KRW

Average target price

578,724 KRW

Spread / Average Target

+45.41%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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