LOTTE CHEMICAL CORPORATION |
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|
5-day change | 1st Jan Change | ||
| 112,000 KRW | -1.93% |
|
-0.97% | -26.89% |
| May. 22 | Nomura Upgrades Lotte Chemical to Buy From Neutral; Price Target is KRW160,000 | MT |
| May. 16 | Lotte Chemical Corporation Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 7,677,694 | 9,460,016 | 7,437,766 | 6,067,295 | 6,509,536 | 4,758,930 | - | - |
| Enterprise Value (EV) 2 | 8,222 | 11,187 | 7,797 | 9,234 | 12,535 | 12,021 | 12,375 | 12,574 |
| P/E ratio | 10.7 x | 59.7 x | 5.53 x | 99.1 x | -128 x | -34.6 x | 10.8 x | 9.72 x |
| Yield | 4.69% | 2.43% | 3.82% | 1.96% | 2.28% | 2.81% | 3.08% | 3.49% |
| Capitalization / Revenue | 0.51 x | 0.77 x | 0.41 x | 0.27 x | 0.33 x | 0.23 x | 0.21 x | 0.2 x |
| EV / Revenue | 0.54 x | 0.91 x | 0.43 x | 0.41 x | 0.63 x | 0.57 x | 0.56 x | 0.54 x |
| EV / EBITDA | 4.47 x | 9.46 x | 3.29 x | 49.8 x | 15.2 x | 9.09 x | 5.56 x | 5.43 x |
| EV / FCF | 21.3 x | 22 x | 11 x | -3.34 x | -4.39 x | -11.3 x | -102 x | 36.3 x |
| FCF Yield | 4.69% | 4.55% | 9.12% | -30% | -22.8% | -8.86% | -0.99% | 2.75% |
| Price to Book | 0.58 x | 0.74 x | 0.52 x | 0.42 x | 0.41 x | 0.31 x | 0.3 x | 0.3 x |
| Nbr of stocks (in thousands) | 34,275 | 34,275 | 34,275 | 33,990 | 42,490 | 42,490 | - | - |
| Reference price 3 | 224,000 | 276,000 | 217,000 | 178,500 | 153,200 | 112,000 | 112,000 | 112,000 |
| Announcement Date | 2/7/20 | 2/5/21 | 3/19/22 | 2/9/23 | 2/7/24 | - | - | - |
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 | 15,123 | 12,235 | 18,120 | 22,276 | 19,949 | 21,106 | 22,290 | 23,369 |
| EBITDA 1 | 1,839 | 1,183 | 2,368 | 185.3 | 824.9 | 1,322 | 2,226 | 2,317 |
| EBIT 1 | 1,108 | 353 | 1,536 | -758.4 | -333.2 | -70.78 | 794.5 | 820.5 |
| Operating Margin | 7.32% | 2.89% | 8.47% | -3.4% | -1.67% | -0.34% | 3.56% | 3.51% |
| Earnings before Tax (EBT) 1 | 1,249 | 246.7 | 1,902 | -378.9 | -431.1 | -135.6 | 590.6 | 719.4 |
| Net income 1 | 716.5 | 158.5 | 1,346 | 72.82 | -308.9 | -134.8 | 483.3 | 467.2 |
| Net margin | 4.74% | 1.3% | 7.43% | 0.33% | -1.55% | -0.64% | 2.17% | 2% |
| EPS 2 | 20,860 | 4,623 | 39,260 | 1,802 | -1,199 | -3,233 | 10,370 | 11,522 |
| Free Cash Flow 3 | 385,633 | 508,596 | 710,878 | -2,767,475 | -2,856,250 | -1,064,649 | -121,909 | 346,018 |
| FCF margin | 2,549.9% | 4,156.9% | 3,923.07% | -12,423.53% | -14,317.72% | -5,044.33% | -546.92% | 1,480.64% |
| FCF Conversion (EBITDA) | 20,971.75% | 42,992.09% | 30,015.42% | - | - | - | - | 14,935.01% |
| FCF Conversion (Net income) | 53,823.56% | 320,944% | 52,827.68% | - | - | - | - | 74,061.12% |
| Dividend per Share 2 | 10,500 | 6,700 | 8,300 | 3,500 | 3,500 | 3,150 | 3,449 | 3,909 |
| Announcement Date | 2/7/20 | 2/5/21 | 3/19/22 | 2/9/23 | 2/7/24 | - | - | - |
1KRW in Billions2KRW3KRW in Million
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S2 | 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 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 5,158 | 5,586 | 5,511 | 5,683 | 5,496 | 4,932 | 5,002 | 4,816 | 4,908 | 5,086 | 5,231 | 5,343 | 5,604 | 5,488 | 5,559 |
| EBITDA 1 | - | 242.5 | 291.1 | 103.3 | -179.8 | -111.9 | 232.5 | 201.8 | 280.9 | 240.3 | 171.5 | 244.7 | 351.5 | 378.3 | 475.1 | 498.1 |
| EBIT 1 | 353.3 | 29.52 | 82.64 | -21.42 | -423.9 | -395.8 | -26.18 | -77.05 | 28.08 | -301.3 | -135.3 | -45.17 | 41.43 | 86.31 | 145.1 | 177.1 |
| Operating Margin | - | 0.57% | 1.48% | -0.39% | -7.46% | -7.2% | -0.53% | -1.54% | 0.58% | -6.14% | -2.66% | -0.86% | 0.78% | 1.54% | 2.64% | 3.19% |
| Earnings before Tax (EBT) 1 | - | 118.8 | 167.3 | 80.93 | -85.54 | -541.5 | 278.3 | -205.2 | -40.45 | -506.1 | -87.62 | -87.03 | 1.574 | 34.4 | 96.58 | 110 |
| Net income 1 | - | 58.49 | 104.9 | 42.64 | 14.33 | -89.02 | 139.2 | -105 | 37.61 | -377.4 | -85.49 | -59.6 | 12.07 | 33.11 | 81.79 | 82.58 |
| Net margin | - | 1.13% | 1.88% | 0.77% | 0.25% | -1.62% | 2.82% | -2.1% | 0.78% | -7.69% | -1.68% | -1.14% | 0.23% | 0.59% | 1.49% | 1.49% |
| EPS 2 | - | 1,706 | 3,060 | 1,244 | 419.0 | -2,925 | 3,517 | -2,470 | 885.0 | -2,928 | -2,027 | -1,582 | -1,570 | -2,592 | 2,215 | 2,624 |
| Dividend per Share 2 | - | 8,300 | - | - | - | 3,500 | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/5/21 | 3/19/22 | 5/13/22 | 8/5/22 | 11/8/22 | 2/9/23 | 5/11/23 | 8/8/23 | 11/9/23 | 2/7/24 | 5/9/24 | - | - | - | - | - |
1KRW in Billions2KRW
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 544 | 1,727 | 359 | 3,167 | 6,025 | 7,262 | 7,616 | 7,815 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.2958 x | 1.46 x | 0.1515 x | 17.09 x | 7.304 x | 5.494 x | 3.421 x | 3.373 x |
| Free Cash Flow 2 | 385,633 | 508,596 | 710,878 | -2,767,475 | -2,856,250 | -1,064,649 | -121,909 | 346,018 |
| ROE (net income / shareholders' equity) | 5.49% | 1.34% | 9.87% | 0.43% | -0.33% | -0.89% | 2.8% | 3.22% |
| ROA (Net income/ Total Assets) | 3.71% | 0.94% | 6.37% | 0.25% | -0.17% | -0.25% | 1.44% | 1.49% |
| Assets 1 | 19,317 | 16,847 | 21,128 | 29,340 | 185,975 | 53,782 | 33,568 | 31,447 |
| Book Value Per Share 3 | 385,244 | 374,803 | 420,424 | 421,450 | 372,391 | 357,766 | 368,441 | 369,593 |
| Cash Flow per Share 3 | 37,282 | 38,240 | 43,361 | -4,899 | 18,916 | 32,716 | 51,314 | 63,231 |
| Capex 1 | 892 | 802 | 775 | 2,600 | 3,646 | 2,977 | 2,209 | 1,837 |
| Capex / Sales | 5.9% | 6.56% | 4.28% | 11.67% | 18.28% | 14.1% | 9.91% | 7.86% |
| Announcement Date | 2/7/20 | 2/5/21 | 3/19/22 | 2/9/23 | 2/7/24 | - | - | - |
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
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
25
Last Close Price
112,000
KRW
Average target price
156,680
KRW
Spread / Average Target
+39.89%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -26.89% | 3.45B | |
| +1.62% | 39.19B | |
| -23.45% | 21.04B | |
| -20.83% | 12.3B | |
| -8.12% | 9.87B | |
| -16.53% | 9.38B | |
| +26.54% | 8.74B | |
| +1.19% | 6.31B | |
| -35.06% | 4.93B | |
| +14.64% | 2.76B |
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