COWAY CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 55,700 KRW | -2.45% |
|
-0.36% | -2.62% |
| Feb. 09 | Coway's Net Income Jumps in Q4 | MT |
| Jan. 23 | Coway Expands Cutting-Edge Air Purifier Product Line with Launch of Affordable, Cylindrical Model for Small Spaces: the Airmega 100 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 6,720,725 | 5,274,794 | 5,398,138 | 4,056,313 | 4,150,646 | 4,041,801 | - | - |
| Enterprise Value (EV) 2 | 7,528 | 5,868 | 6,168 | 5,076 | 4,151 | 4,970 | 4,861 | 4,668 |
| P/E ratio | 20.2 x | 13 x | 11.6 x | 8.85 x | 8.81 x | 7.77 x | 7.19 x | 6.48 x |
| Yield | 2.15% | 1.65% | 1.61% | 2.24% | - | 2.55% | 2.71% | 3.48% |
| Capitalization / Revenue | 2.23 x | 1.63 x | 1.47 x | 1.05 x | 1.05 x | 0.96 x | 0.91 x | 0.85 x |
| EV / Revenue | 2.49 x | 1.81 x | 1.68 x | 1.32 x | 1.05 x | 1.19 x | 1.09 x | 0.99 x |
| EV / EBITDA | 10.2 x | 5.1 x | 5.3 x | 4.38 x | 3.55 x | 4.11 x | 3.86 x | 3.56 x |
| EV / FCF | 50.4 x | 24.7 x | 111 x | -48.2 x | - | 7.41 x | 8.42 x | 7.02 x |
| FCF Yield | 1.98% | 4.05% | 0.9% | -2.07% | - | 13.5% | 11.9% | 14.2% |
| Price to Book | 6.24 x | 3.54 x | 2.83 x | 1.75 x | - | 1.32 x | 1.15 x | 1.03 x |
| Nbr of stocks (in thousands) | 72,188 | 72,556 | 72,556 | 72,564 | 72,564 | 72,564 | - | - |
| Reference price 3 | 93,100 | 72,700 | 74,400 | 55,900 | 57,200 | 55,700 | 55,700 | 55,700 |
| Announcement Date | 2/14/20 | 2/16/21 | 2/15/22 | 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 | 3,019 | 3,237 | 3,664 | 3,856 | 3,967 | 4,191 | 4,451 | 4,737 |
| EBITDA 1 | 739.5 | 1,150 | 1,163 | 1,160 | 1,169 | 1,210 | 1,258 | 1,310 |
| EBIT 1 | 458.3 | 606.4 | 640.2 | 677.4 | 731.3 | 764 | 818 | 878.3 |
| Operating Margin | 15.18% | 18.73% | 17.47% | 17.57% | 18.44% | 18.23% | 18.38% | 18.54% |
| Earnings before Tax (EBT) 1 | 451.4 | 540.4 | 658.6 | 683.3 | 660.6 | 742.1 | 801.8 | 899.9 |
| Net income 1 | 332.9 | 404.9 | 465.7 | 458.2 | 471.3 | 531 | 572.5 | 627.2 |
| Net margin | 11.03% | 12.51% | 12.71% | 11.88% | 11.88% | 12.67% | 12.86% | 13.24% |
| EPS 2 | 4,603 | 5,583 | 6,418 | 6,314 | 6,495 | 7,172 | 7,745 | 8,601 |
| Free Cash Flow 3 | 149,370 | 237,634 | 55,717 | -105,220 | - | 670,300 | 577,133 | 665,000 |
| FCF margin | 4,947.81% | 7,340.25% | 1,520.55% | -2,728.65% | - | 15,995.61% | 12,965.66% | 14,038.15% |
| FCF Conversion (EBITDA) | 20,198.81% | 20,668.65% | 4,791.8% | - | - | 55,387.29% | 45,865.2% | 50,774.58% |
| FCF Conversion (Net income) | 44,863.71% | 58,690.73% | 11,965.21% | - | - | 126,226.93% | 100,808.41% | 106,035.24% |
| Dividend per Share 2 | 2,000 | 1,200 | 1,200 | 1,250 | - | 1,419 | 1,509 | 1,939 |
| Announcement Date | 2/14/20 | 2/16/21 | 2/15/22 | 2/15/23 | 2/8/24 | - | - | - |
1KRW in Billions2KRW3KRW in Million
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 934 | 945.9 | 928 | 978.2 | 969.8 | 980.2 | 948.3 | 1,006 | 1,008 | 1,004 | 1,009 | 1,065 | 1,074 | 1,079 | - |
| EBITDA 1 | 221.4 | 266.9 | 298.1 | 297.6 | 284.7 | 279.9 | 288.6 | 305.3 | 302.4 | - | 284.3 | 300.7 | 301.5 | 283.9 | - |
| EBIT 1 | 163.8 | 139.2 | 172.7 | 176 | 165.1 | 163.7 | 175.6 | 194.2 | 195.3 | 166.2 | 183.2 | 203 | 207 | 181.6 | - |
| Operating Margin | 17.54% | 14.72% | 18.61% | 17.99% | 17.02% | 16.7% | 18.52% | 19.3% | 19.38% | 16.55% | 18.16% | 19.06% | 19.27% | 16.83% | - |
| Earnings before Tax (EBT) 1 | 185.8 | 138.2 | 191.9 | 194.1 | 193.8 | 103.5 | 174.3 | 153.4 | 187.2 | 145.6 | 178.2 | 194.6 | 195.3 | 177.8 | - |
| Net income 1 | 136.5 | 87.46 | 135.1 | 132.6 | 114 | 76.48 | 125.3 | 107.2 | 137 | 101.7 | 126.6 | 138.3 | 138.8 | 126.4 | - |
| Net margin | 14.62% | 9.25% | 14.55% | 13.56% | 11.76% | 7.8% | 13.22% | 10.66% | 13.6% | 10.13% | 12.55% | 12.99% | 12.92% | 11.71% | - |
| EPS 2 | 1,881 | 1,206 | 1,861 | 1,828 | 1,571 | 1,054 | 1,727 | 1,478 | 1,888 | 1,402 | 1,798 | 1,897 | 1,931 | 1,663 | - |
| Dividend per Share 2 | - | 1,200 | - | - | - | 1,250 | - | - | - | - | - | - | - | 1,600 | - |
| Announcement Date | 11/5/21 | 2/15/22 | 5/13/22 | 8/10/22 | 11/9/22 | 2/15/23 | 5/12/23 | 8/9/23 | 11/8/23 | 2/8/24 | - | - | - | - | - |
1KRW in Billions2KRW
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 807 | 594 | 770 | 1,020 | - | 928 | 819 | 626 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.091 x | 0.5164 x | 0.6623 x | 0.879 x | - | 0.7667 x | 0.6511 x | 0.4779 x |
| Free Cash Flow 2 | 149,370 | 237,634 | 55,717 | -105,220 | - | 670,300 | 577,133 | 665,000 |
| ROE (net income / shareholders' equity) | 30.7% | 31.5% | 27.4% | 21.7% | - | 18.1% | 17% | 16.7% |
| ROA (Net income/ Total Assets) | 12.7% | 13.8% | 13.6% | 11.2% | - | 11.2% | 10.6% | 10.7% |
| Assets 1 | 2,617 | 2,942 | 3,415 | 4,083 | - | 4,753 | 5,405 | 5,889 |
| Book Value Per Share 3 | 14,909 | 20,563 | 26,267 | 31,887 | - | 42,049 | 48,288 | 54,136 |
| Cash Flow per Share 3 | 7,466 | 7,761 | 4,566 | 2,266 | - | 11,318 | 11,800 | 11,277 |
| Capex 1 | 391 | 325 | 276 | 270 | - | 301 | 312 | 340 |
| Capex / Sales | 12.94% | 10.05% | 7.52% | 6.99% | - | 7.19% | 7.02% | 7.18% |
| Announcement Date | 2/14/20 | 2/16/21 | 2/15/22 | 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
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
55,700
KRW
Average target price
66,091
KRW
Spread / Average Target
+18.66%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -2.62% | 2.92B | |
| +30.93% | 30.57B | |
| +50.21% | 7.71B | |
| +89.61% | 6.77B | |
| -22.10% | 5.18B | |
| +19.57% | 3.95B | |
| +8.77% | 3.09B | |
| +34.63% | 3.24B | |
| +4.31% | 3.12B | |
| -8.16% | 2.79B |
- Stock Market
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- Financials COWAY Co., Ltd.
