Financials Hwaseung Enterprise Co., Ltd.

Equities

A241590

KR7241590009

Footwear

End-of-day quote Korea S.E. 06:00:00 2024-05-30 pm EDT 5-day change 1st Jan Change
9,310 KRW +5.44% Intraday chart for Hwaseung Enterprise Co., Ltd. +0.32% +9.66%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,026,097 859,621 1,020,618 559,239 514,403 564,086 - -
Enterprise Value (EV) 2 1,303 984.9 1,323 992.8 956.9 955.5 818.1 772.8
P/E ratio 16.4 x 23.8 x -156 x -55.9 x -19.6 x 11.6 x 8.66 x 6.49 x
Yield 0.27% 0.32% 0.27% 0.49% 0.53% 0.48% 0.49% 0.48%
Capitalization / Revenue 0.85 x 0.77 x 0.9 x 0.34 x 0.42 x 0.37 x 0.33 x 0.3 x
EV / Revenue 1.08 x 0.88 x 1.16 x 0.6 x 0.79 x 0.63 x 0.48 x 0.41 x
EV / EBITDA 9.73 x 8.2 x 19.2 x 7.87 x 11.4 x 6.99 x 5.08 x 4.15 x
EV / FCF 1,105 x -173 x -12.8 x -28.9 x 196 x 13.8 x 9.23 x 7.97 x
FCF Yield 0.09% -0.58% -7.79% -3.46% 0.51% 7.22% 10.8% 12.6%
Price to Book 2.94 x 1.66 x 1.9 x 1.04 x 0.92 x 0.98 x 0.94 x 0.77 x
Nbr of stocks (in thousands) 60,537 60,537 60,571 60,589 60,589 60,589 - -
Reference price 3 16,950 14,200 16,850 9,230 8,490 9,310 9,310 9,310
Announcement Date 2/18/20 3/5/21 3/10/22 3/9/23 2/22/24 - - -
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 1,202 1,116 1,139 1,654 1,214 1,508 1,691 1,863
EBITDA 1 134 120.1 68.79 126.1 83.95 136.8 160.9 186.4
EBIT 1 85.44 62.46 7.099 52.8 12.96 69.78 91.76 115.5
Operating Margin 7.11% 5.6% 0.62% 3.19% 1.07% 4.63% 5.43% 6.2%
Earnings before Tax (EBT) 1 78.09 48.7 2.152 6.494 -18.64 62.35 83.06 111.7
Net income 1 62.44 40.1 -6.514 -10 -25.28 48.7 65.06 86.78
Net margin 5.2% 3.59% -0.57% -0.6% -2.08% 3.23% 3.85% 4.66%
EPS 2 1,031 596.0 -108.0 -165.0 -434.0 800.5 1,075 1,434
Free Cash Flow 3 1,179 -5,682 -103,016 -34,325 4,880 69,000 88,667 97,000
FCF margin 98.14% -509.23% -9,047.8% -2,075.26% 402% 4,574.99% 5,244.56% 5,206.17%
FCF Conversion (EBITDA) 880.11% - - - 5,812.3% 50,453.35% 55,093% 52,038.63%
FCF Conversion (Net income) 1,888.53% - - - - 141,683.78% 136,284.46% 111,783.35%
Dividend per Share 2 45.00 45.00 45.00 45.00 45.00 45.00 45.40 45.00
Announcement Date 2/18/20 3/5/21 3/10/22 3/9/23 2/22/24 - - -
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 Q2 2024 Q3 2024 Q4
Net sales 1 336.8 376.3 452.4 439.2 386.2 305.4 321.9 261.3 325.2 388.6 350.6 433.2
EBITDA - - - - - - - - - - - -
EBIT 1 1.629 6.858 26.12 15.54 4.29 -0.9539 7.581 -1.658 7.992 17.05 20.4 25.9
Operating Margin 0.48% 1.82% 5.77% 3.54% 1.11% -0.31% 2.35% -0.63% 2.46% 4.39% 5.82% 5.98%
Earnings before Tax (EBT) - - - - - - - - - - - -
Net income 1 -4.919 - - 4.412 -30.27 1.861 -2.442 -16.98 -6.982 8.3 10.2 17.6
Net margin -1.46% - - 1% -7.84% 0.61% -0.76% -6.5% -2.15% 2.14% 2.91% 4.06%
EPS - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - -
Announcement Date 3/10/22 5/13/22 8/12/22 11/13/22 3/9/23 5/12/23 8/11/23 11/14/23 2/22/24 - - -
1KRW in Billions
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 277 125 303 434 443 391 254 209
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.069 x 1.043 x 4.398 x 3.438 x 5.271 x 2.862 x 1.578 x 1.12 x
Free Cash Flow 2 1,179 -5,682 -103,016 -34,325 4,880 69,000 88,667 97,000
ROE (net income / shareholders' equity) 20% 9.16% -1.24% -1.32% -4.39% 8.96% 11.5% 12.7%
ROA (Net income/ Total Assets) 6.14% 3.89% -0.52% -0.71% -1.85% 4.1% 5.67% 6.37%
Assets 1 1,017 1,032 1,243 1,403 1,365 1,188 1,148 1,363
Book Value Per Share 3 5,759 8,554 8,858 8,871 9,232 9,465 9,925 12,094
Cash Flow per Share 3 1,145 1,283 -138.0 1,599 976.0 2,225 2,730 2,963
Capex 1 68.1 83.3 94.7 131 54.3 63.4 69.2 73
Capex / Sales 5.67% 7.47% 8.32% 7.93% 4.47% 4.2% 4.09% 3.92%
Announcement Date 2/18/20 3/5/21 3/10/22 3/9/23 2/22/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
9,310 KRW
Average target price
11,800 KRW
Spread / Average Target
+26.75%
Consensus

Quarterly revenue - Rate of surprise

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