PHARMARESEARCH CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 156,200 KRW | +2.90% |
|
+12.54% | +42.65% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 343,774 | 552,155 | 818,025 | 697,316 | 1,116,952 | 1,607,778 | - | - |
| Enterprise Value (EV) 2 | 337.5 | 529.2 | 788.8 | 623.2 | 960.9 | 1,439 | 1,341 | 1,198 |
| P/E ratio | 19.7 x | 16.6 x | 17.3 x | 17 x | 14.6 x | 16.8 x | 14.3 x | 11.8 x |
| Yield | 0.82% | 0.87% | 0.73% | 0.94% | 0.87% | 0.53% | 0.56% | 0.65% |
| Capitalization / Revenue | 4.1 x | 5.08 x | 5.31 x | 3.54 x | 4.28 x | 4.98 x | 4.29 x | 3.6 x |
| EV / Revenue | 4.02 x | 4.87 x | 5.12 x | 3.16 x | 3.68 x | 4.46 x | 3.58 x | 2.68 x |
| EV / EBITDA | 12.6 x | 12.7 x | 12.7 x | 8.13 x | 9.22 x | 10.8 x | 8.68 x | 6.15 x |
| EV / FCF | 34.3 x | -221 x | 17.7 x | 14.8 x | 18.2 x | 15.6 x | 14.6 x | 8.81 x |
| FCF Yield | 2.92% | -0.45% | 5.66% | 6.77% | 5.5% | 6.39% | 6.84% | 11.4% |
| Price to Book | 1.66 x | 2.22 x | 2.66 x | 2.03 x | 2.58 x | 3.09 x | 2.6 x | 2.07 x |
| Nbr of stocks (in thousands) | 9,444 | 9,653 | 9,976 | 9,976 | 10,200 | 10,293 | - | - |
| Reference price 3 | 36,400 | 57,200 | 82,000 | 69,900 | 109,500 | 156,200 | 156,200 | 156,200 |
| Announcement Date | 2/17/20 | 3/18/21 | 2/9/22 | 2/15/23 | 2/8/24 | - | - | - |
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 | 83.87 | 108.7 | 154.1 | 197.2 | 260.8 | 322.8 | 374.7 | 446.7 |
| EBITDA 1 | 26.74 | 41.79 | 62.02 | 76.66 | 104.3 | 132.9 | 154.5 | 194.9 |
| EBIT 1 | 19.06 | 33.43 | 53.11 | 67.55 | 90.93 | 120.7 | 142.7 | 183.8 |
| Operating Margin | 22.73% | 30.74% | 34.47% | 34.26% | 34.86% | 37.38% | 38.07% | 41.14% |
| Earnings before Tax (EBT) 1 | 19.52 | 39.54 | 56.1 | 55.62 | 99.19 | 124.2 | 145.3 | 174 |
| Net income 1 | 17.41 | 32.77 | 46.76 | 41.04 | 75.18 | 97.06 | 114 | 139.1 |
| Net margin | 20.76% | 30.14% | 30.34% | 20.81% | 28.82% | 30.07% | 30.43% | 31.14% |
| EPS 2 | 1,845 | 3,447 | 4,728 | 4,114 | 7,502 | 9,288 | 10,893 | 13,209 |
| Free Cash Flow 3 | 9,840 | -2,393 | 44,652 | 42,190 | 52,883 | 92,000 | 91,750 | 136,000 |
| FCF margin | 11,731.83% | -2,200.83% | 28,979.34% | 21,398.2% | 20,274.17% | 28,497.7% | 24,483.65% | 30,448.15% |
| FCF Conversion (EBITDA) | 36,792.38% | - | 71,994.3% | 55,033.39% | 50,725.04% | 69,228.35% | 59,380.51% | 69,794.89% |
| FCF Conversion (Net income) | 56,501.48% | - | 95,500.89% | 102,808.96% | 70,345.57% | 94,786.73% | 80,463.63% | 97,774.9% |
| Dividend per Share 2 | 300.0 | 500.0 | 600.0 | 660.0 | 950.0 | 827.5 | 877.5 | 1,017 |
| Announcement Date | 2/17/20 | 3/18/21 | 2/9/22 | 2/15/23 | 2/8/24 | - | - | - |
1KRW in Billions2KRW3KRW in Million
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 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 | 42.05 | 45.27 | 49.7 | 46.17 | 56.02 | 55.44 | 66.8 | 68.81 | 69.96 | 74.72 | 78.4 | 83.3 | 87.5 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 13.26 | 15.23 | 17.39 | 16.52 | 18.4 | 20.74 | 23.65 | 27.49 | 20.38 | 26.67 | 28.2 | 34 | 31.6 |
| Operating Margin | 31.53% | 33.65% | 34.99% | 35.77% | 32.85% | 37.41% | 35.4% | 39.96% | 29.12% | 35.69% | 35.97% | 40.82% | 36.11% |
| Earnings before Tax (EBT) | 13.09 | 14.51 | 12.88 | 19.46 | 8.768 | - | - | 34.29 | 20.31 | 23.26 | - | - | - |
| Net income 1 | 9.431 | - | 10.08 | 17.42 | 4.218 | 17.7 | 16.73 | 26.71 | 15.41 | 17.24 | 22 | 23 | 23.8 |
| Net margin | 22.43% | - | 20.28% | 37.73% | 7.53% | 31.93% | 25.05% | 38.82% | 22.02% | 23.08% | 28.06% | 27.61% | 27.2% |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/9/22 | 5/13/22 | 8/16/22 | 11/14/22 | 2/15/23 | 5/15/23 | 8/11/23 | 11/14/23 | 2/8/24 | 5/10/24 | - | - | - |
1KRW in Billions
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 6.24 | 22.9 | 29.2 | 74.2 | 156 | 168 | 267 | 410 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 2 | 9,840 | -2,393 | 44,652 | 42,190 | 52,883 | 92,000 | 91,750 | 136,000 |
| ROE (net income / shareholders' equity) | 7% | 14.4% | 15.8% | 12.1% | 18.1% | 20.4% | 20.9% | 21.6% |
| ROA (Net income/ Total Assets) | 5.94% | 11.1% | 12.5% | 9.06% | 15.1% | 18.2% | 18.4% | 20.2% |
| Assets 1 | 293.2 | 294.9 | 374.3 | 452.9 | 497.6 | 532.6 | 620.8 | 688.1 |
| Book Value Per Share 3 | 21,939 | 25,815 | 30,857 | 34,433 | 42,459 | 50,540 | 60,071 | 75,490 |
| Cash Flow per Share 3 | 2,033 | 3,407 | 6,597 | 5,955 | 6,367 | 10,662 | 13,303 | 16,518 |
| Capex 1 | 9.59 | 34.8 | 20.6 | 17.2 | 12.1 | 5.25 | 13.2 | 4 |
| Capex / Sales | 11.43% | 31.99% | 13.4% | 8.73% | 4.62% | 1.63% | 3.53% | 0.9% |
| Announcement Date | 2/17/20 | 3/18/21 | 2/9/22 | 2/15/23 | 2/8/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
156,200
KRW
Average target price
187,500
KRW
Spread / Average Target
+20.04%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +42.65% | 1.12B | |
| +2.97% | 94.74B | |
| -3.68% | 37.28B | |
| -11.61% | 32.68B | |
| +74.21% | 27.72B | |
| -13.40% | 16.19B | |
| -2.29% | 13.88B | |
| -12.21% | 11.58B | |
| +188.83% | 10.92B | |
| -53.94% | 9.54B |
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