Financials MCNEX Co., Ltd

Equities

A097520

KR7097520001

Electronic Equipment & Parts

End-of-day quote Korea S.E. Other stock markets 18:00:00 2024-05-02 EDT			5-day change	1st Jan Change
26,200 ^KRW	+0.77%		+11.73%	-13.39%

03-18	MCNEX Co., Ltd Reports Earnings Results for the Full Year Ended December 31, 2023	CI
03-14	MCNEX Co., Ltd announces an Equity Buyback for 150,000 shares.	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	665,664	712,393	1,024,847	493,396	532,936	461,585	-	-
Enterprise Value (EV) ²	697.9	773.7	1,070	493.4	572	461.4	426.4	386.5
P/E ratio	7.79 x	18.5 x	26.1 x	21.7 x	19.1 x	13 x	10.9 x	9.64 x
Yield	1.32%	1.24%	0.87%	-	-	2.04%	2.04%	2.29%
Capitalization / Revenue	0.53 x	0.54 x	1.02 x	0.45 x	0.57 x	0.43 x	0.39 x	0.35 x
EV / Revenue	0.55 x	0.59 x	1.06 x	0.45 x	0.61 x	0.43 x	0.36 x	0.3 x
EV / EBITDA	4.32 x	6.56 x	13.6 x	7.64 x	8.1 x	5.04 x	4.36 x	4.03 x
EV / FCF	64.3 x	-31.6 x	19.8 x	-	48.3 x	9.08 x	9.48 x	7.31 x
FCF Yield	1.55%	-3.17%	5.04%	-	2.07%	11%	10.5%	13.7%
Price to Book	2.96 x	2.82 x	3.43 x	-	1.65 x	1.34 x	1.22 x	1.13 x
Nbr of stocks (in thousands)	17,633	17,633	17,823	17,684	17,618	17,618	-	-
Reference price ³	37,750	40,400	57,500	27,900	30,250	26,200	26,200	26,200
Announcement Date	20-02-12	21-02-19	22-02-18	23-02-21	24-02-23	-	-	-

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	1,268	1,311	1,009	1,109	932.5	1,067	1,181	1,310
EBITDA ¹	161.6	118	78.7	64.59	70.65	91.58	97.9	96
EBIT ¹	113.1	59.32	23.88	10.7	18.23	39.12	46.87	57.5
Operating Margin	8.92%	4.52%	2.37%	0.97%	1.96%	3.67%	3.97%	4.39%
Earnings before Tax (EBT) ¹	121.4	52.78	50.28	29.15	27.82	46.74	52.95	62.1
Net income ¹	84.51	38.6	39.51	22.97	27.93	36.15	42.09	48.85
Net margin	6.67%	2.94%	3.91%	2.07%	3%	3.39%	3.56%	3.73%
EPS ²	4,848	2,180	2,202	1,288	1,582	2,009	2,401	2,716
Free Cash Flow ³	10,846	-24,514	53,924	-	11,847	50,800	44,967	52,900
FCF margin	855.53%	-1,869.4%	5,342.87%	-	1,270.45%	4,760.74%	3,808.42%	4,037.86%
FCF Conversion (EBITDA)	6,713.25%	-	68,519.55%	-	16,768.97%	55,473.66%	45,932.78%	55,104.17%
FCF Conversion (Net income)	12,833.97%	-	136,498.88%	-	42,415.61%	140,525.59%	106,834.56%	108,290.69%
Dividend per Share ²	500.0	500.0	500.0	-	-	533.3	533.3	600.0
Announcement Date	20-02-12	21-02-19	22-02-18	23-02-21	24-02-23	-	-	-

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
Net sales ¹	244.7	320.7	301.7	280.9	278.3	247.8	251	192.2	236.4	253	280.9	226.4	281.3	282.9
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	7.482	12.63	4.003	4.222	0.092	2.385	2.814	-2.287	10.37	7.324	9.566	8.235	12.29	11.25
Operating Margin	3.06%	3.94%	1.33%	1.5%	0.03%	0.96%	1.12%	-1.19%	4.39%	2.9%	3.41%	3.64%	4.37%	3.98%
Earnings before Tax (EBT) ¹	19.07	15.37	8.596	19.39	14.3	-13.13	9.037	0.84	10.67	7.262	11.2	8.4	11.9	11.6
Net income ¹	10.41	17.87	7.115	14.15	9.149	-7.429	8.225	3.793	9.575	6.331	9.05	6.4	9.8	8.85
Net margin	4.26%	5.57%	2.36%	5.04%	3.29%	-3%	3.28%	1.97%	4.05%	2.5%	3.22%	2.83%	3.48%	3.13%
EPS	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	21-11-05	22-02-18	22-05-06	22-08-05	22-11-04	23-02-21	23-05-04	23-08-04	23-11-06	24-02-23	-	-	-	-

¹KRW in Billions

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	32.2	61.3	45.4	-	39.1	-	-	-
Net Cash position ¹	-	-	-	-	-	0.2	35.2	75.1
Leverage (Debt/EBITDA)	0.1994 x	0.5198 x	0.5766 x	-	0.5536 x	-	-	-
Free Cash Flow ²	10,846	-24,514	53,924	-	11,847	50,800	44,967	52,900
ROE (net income / shareholders' equity)	49.9%	16.2%	14.5%	7.56%	8.83%	10.9%	11.4%	12.3%
ROA (Net income/ Total Assets)	20%	8.3%	8.07%	-	5.2%	6.8%	7.15%	8.3%
Assets ¹	421.9	464.8	489.5	-	537.4	531.6	588.7	588.6
Book Value Per Share ³	12,735	14,344	16,767	-	18,369	19,523	21,532	23,112
Cash Flow per Share ³	6,658	1,108	5,174	-	2,645	5,004	5,147	5,117
Capex ¹	105	44.1	38.9	-	34.8	32.6	42.9	20.5
Capex / Sales	8.3%	3.36%	3.85%	-	3.74%	3.06%	3.63%	1.56%
Announcement Date	20-02-12	21-02-19	22-02-18	23-02-21	24-02-23	-	-	-

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 MCNEX Co., Ltd

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

26,200 KRW

Average target price

38,000 KRW

Spread / Average Target

+45.04%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Electronic Component

	1st Jan change	Capi.
MCNEX CO., LTD	-13.39%	341M
AMPHENOL CORPORATION	+23.72%	73.66B
HON HAI PRECISION INDUSTRY CO., LTD.	+49.28%	66.97B
MURATA MANUFACTURING CO., LTD	-6.52%	34.57B
LUXSHARE PRECISION INDUSTRY CO., LTD.	-15.24%	28.96B
JABIL INC.	-7.99%	14.14B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-11.85%	10.07B
LENS TECHNOLOGY CO., LTD.	+8.41%	9.77B
SUZHOU TFC OPTICAL COMMUNICATION CO., LTD.	+76.30%	8.8B
EOPTOLINK TECHNOLOGY INC., LTD.	+75.39%	8.49B

Electronic Component