Company Valuation: NHN Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,628,897 857,202 787,030 560,897 907,658 1,121,998 - -
Change - -47.38% -8.19% -28.73% 61.82% 23.61% - -
Enterprise Value (EV) 1 841.7 268.4 257 163.3 -563.4 -648.7 -539 -977
Change - -68.12% -4.24% -36.46% -445% -15.14% 16.91% -81.26%
P/E 7.03x -39.2x -92.7x -4.37x 28.4x 11.1x 9.18x 7.62x
PBR 0.44x 0.52x 0.5x 0.41x 0.63x 0.77x 0.71x 0.67x
PEG - 0x 1.5x -0x -0x 0x 0.4x 0.4x
Capitalization / Revenue 0.85x 0.41x 0.35x 0.23x 0.36x 0.4x 0.36x 0.33x
EV / Revenue 0.44x 0.13x 0.11x 0.07x -0.22x -0.23x -0.17x -0.29x
EV / EBITDA 4.92x 2.24x 1.72x 2.27x -2.39x -2.22x -1.62x -2.89x
EV / EBIT 8.58x 6.59x 4.63x -5.01x -4.26x -3.65x -2.52x -4.19x
EV / FCF 5.49x -2.88x -1.68x -166x -1.8x -3.31x -2.59x -4.46x
FCF Yield 18.2% -34.7% -59.4% -0.6% -55.6% -30.2% -38.6% -22.4%
Dividend per Share 3 - - - - - 500 525 540
Rate of return - - - - - 1.37% 1.44% 1.48%
EPS 3 6,402 -636 -252 -4,039 1,023 3,291 3,967 4,778
Distribution rate - - - - - 15.2% 13.2% 11.3%
Net sales 1 1,920 2,116 2,270 2,456 2,516 2,839 3,099 3,353
EBITDA 1 171.2 119.7 149.5 71.85 235.8 292.5 332 338.4
EBIT 1 98.06 40.74 55.52 -32.62 132.4 177.5 214.2 233.4
Net income 1 115.5 -8.318 -8.538 -125.4 36.92 106.1 126.1 148.6
Net Debt 1 -787.2 -588.8 -530 -397.6 -1,471 -1,771 -1,661 -2,099
Reference price 3 45,000.00 24,900.00 23,350.00 17,650.00 29,050.00 36,400.00 36,400.00 36,400.00
Nbr of stocks (in thousands) 36,198 34,426 33,706 31,779 31,245 30,824 - -
Announcement Date 2/8/22 2/10/23 2/13/24 2/13/25 2/11/26 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.7x-0.21x-2x1.3% 804M
14.98x4.08x9.52x1.38% 510B
19.36x5.7x17.12x-.--% 287B
22.7x2.42x12.53x-.--% 140B
4.22x89.01x3.22x0.13% 109B
32.25x3.91x25.77x-.--% 96.43B
10.22x7.49x85.85x0.68% 87.59B
27.04x5.06x14.29x-.--% 81.65B
66.72x3.88x18.94x-.--% 73.97B
8x2.72x42.84x0.77% 35.7B
Average 21.72x 12.41x 22.81x 0.42% 142.2B
Weighted average by Cap. 19.89x 10.96x 18.27x 0.56%

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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  4. Valuation NHN Corporation