NEXEN CORPORATION

Financials Nexen Corporation

Equities

A005720

KR7005720008

Tires & Rubber Products

End-of-day quote Korea S.E. Other stock markets 18:00:00 2024-05-08 EDT			5-day change	1st Jan Change
4,175 ^KRW	-0.48%		-2.11%	+0.24%

03-18	Nexen Corporation Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Tranche Update on Nexen Corporation's Equity Buyback Plan announced on May 31, 2023.	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	302,549	330,474	254,902	247,803	220,791	216,008
Enterprise Value (EV) ¹	1,291,884	1,275,155	1,215,072	1,178,535	1,565,490	1,607,603
P/E ratio	4.99 x	6.11 x	25.5 x	9.33 x	13.8 x	5.35 x
Yield	1.36%	1.32%	1.84%	2.19%	2.68%	-
Capitalization / Revenue	0.22 x	0.14 x	0.13 x	0.1 x	0.07 x	0.07 x
EV / Revenue	0.95 x	0.56 x	0.62 x	0.49 x	0.52 x	0.53 x
EV / EBITDA	5.66 x	3.16 x	4.54 x	4.95 x	8.47 x	3.74 x
EV / FCF	-2.72 x	34.8 x	19.3 x	19.1 x	-4.37 x	-27.8 x
FCF Yield	-36.7%	2.88%	5.19%	5.23%	-22.9%	-3.6%
Price to Book	0.32 x	0.33 x	0.25 x	0.23 x	0.2 x	0.37 x
Nbr of stocks (in thousands)	56,122	56,122	56,122	55,262	54,482	52,910
Reference price ²	5,500	6,050	4,630	4,560	4,105	4,165
Announcement Date	19-02-25	20-03-13	21-03-22	22-03-21	23-03-21	24-03-18

¹KRW in Million²KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	1,360,025	2,291,342	1,968,536	2,403,881	3,003,950	3,036,062
EBITDA ¹	228,141	403,521	267,702	238,065	184,757	429,706
EBIT ¹	143,585	225,120	62,332	33,585	-22,698	220,858
Operating Margin	10.56%	9.82%	3.17%	1.4%	-0.76%	7.27%
Earnings before Tax (EBT) ¹	87,630	206,097	9,781	47,644	-3,114	180,914
Net income ¹	62,199	59,242	10,884	28,841	17,469	41,636
Net margin	4.57%	2.59%	0.55%	1.2%	0.58%	1.37%
EPS ²	1,103	991.0	181.8	488.6	297.6	778.0
Free Cash Flow ¹	-474,249	36,687	63,034	61,589	-358,073	-57,890
FCF margin	-34.87%	1.6%	3.2%	2.56%	-11.92%	-1.91%
FCF Conversion (EBITDA)	-	9.09%	23.55%	25.87%	-	-
FCF Conversion (Net income)	-	61.93%	579.15%	213.55%	-	-
Dividend per Share ²	75.00	80.00	85.00	100.0	110.0	-
Announcement Date	19-02-25	20-03-13	21-03-22	22-03-21	23-03-21	24-03-18

¹KRW in Million²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	989,336	944,682	960,169	930,731	1,344,699	1,391,595
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.337 x	2.341 x	3.587 x	3.91 x	7.278 x	3.238 x
Free Cash Flow ¹	-474,249	36,687	63,034	61,589	-358,073	-57,890
ROE (net income / shareholders' equity)	6.32%	5.83%	0.04%	1.42%	0.08%	4.6%
ROA (Net income/ Total Assets)	3.66%	3.55%	0.93%	0.48%	-0.31%	2.82%
Assets ¹	1,701,747	1,668,045	1,164,672	6,053,895	-5,725,640	1,476,192
Book Value Per Share ²	17,092	18,356	18,777	19,877	20,883	11,366
Cash Flow per Share ²	2,822	3,181	5,653	6,569	6,049	3,168
Capex ¹	213,720	249,477	129,433	134,435	285,114	348,206
Capex / Sales	15.71%	10.89%	6.58%	5.59%	9.49%	11.47%
Announcement Date	19-02-25	20-03-13	21-03-22	22-03-21	23-03-21	24-03-18

¹KRW in Million²KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Tire & Tube Manufacturers

	1st Jan change	Capi.
NEXEN CORPORATION	+0.24%	309M
PIRELLI & C. S.P.A.	+26.41%	6.54B
MRF LIMITED	-1.91%	6.41B
BALKRISHNA INDUSTRIES LIMITED	-4.21%	5.65B
CHENG SHIN RUBBER IND. CO., LTD.	+8.46%	4.87B
SHANDONG LINGLONG TYRE CO.,LTD.	+17.99%	4.6B
HANKOOK TIRE & TECHNOLOGY CO., LTD.	-3.74%	3.9B
QINGDAO SENTURY TIRE CO., LTD.	+34.71%	3.94B
PT MULTISTRADA ARAH SARANA TBK	+44.36%	3.15B
TRIANGLE TYRE CO.,LTD	+22.83%	1.96B

Tire & Tube Manufacturers

Stock Market
Equities
A005720 Stock
Financials Nexen Corporation

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