Financials Handsome Corporation

Equities

A020000

KR7020000006

Apparel & Accessories

End-of-day quote Korea S.E. 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
19,620 KRW +0.56% Intraday chart for Handsome Corporation +2.72% +2.62%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 693,141 664,580 782,118 594,278 420,059 420,734 - -
Enterprise Value (EV) 2 584.5 631.5 490.1 537.7 420.1 112.9 50.4 420.7
P/E ratio 8.13 x 7.81 x 6.83 x 4.83 x - 5.31 x 4.37 x 4.78 x
Yield 1.43% 1.49% 1.69% 2.77% - 3.96% 4.09% 4.08%
Capitalization / Revenue 0.55 x 0.56 x 0.56 x 0.39 x 0.27 x 0.27 x 0.26 x 0.25 x
EV / Revenue 0.46 x 0.53 x 0.35 x 0.35 x 0.27 x 0.07 x 0.03 x 0.25 x
EV / EBITDA 4 x 4.5 x 2.39 x 2.37 x - 0.62 x 0.25 x 2.01 x
EV / FCF 5.33 x 5.62 x 3.24 x -27.9 x - 1.13 x 0.5 x 2.2 x
FCF Yield 18.7% 17.8% 30.9% -3.59% - 88.8% 200% 45.5%
Price to Book 0.66 x 0.59 x 0.63 x 0.44 x - 0.32 x 0.3 x 0.28 x
Nbr of stocks (in thousands) 21,970 21,970 21,970 21,970 21,970 21,477 - -
Reference price 3 31,550 30,250 35,600 27,050 19,120 19,590 19,590 19,590
Announcement Date 2/10/20 2/5/21 2/8/22 2/7/23 2/6/24 - - -
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 1,260 1,196 1,387 1,542 1,529 1,574 1,639 1,664
EBITDA 1 146.1 140.3 204.9 226.5 - 181.9 204.9 209
EBIT 1 106.4 102.1 152.2 168.3 100.5 113.4 134.6 132.4
Operating Margin 8.44% 8.53% 10.97% 10.91% 6.57% 7.2% 8.21% 7.95%
Earnings before Tax (EBT) 1 113.4 112.2 154.6 161.8 100.6 110 134.5 124
Net income 1 83.52 85.09 110.9 123 83.87 84.9 105.1 98.21
Net margin 6.63% 7.12% 7.99% 7.98% 5.49% 5.39% 6.41% 5.9%
EPS 2 3,881 3,873 5,214 5,599 - 3,688 4,481 4,102
Free Cash Flow 3 109,569 112,282 151,276 -19,302 - 100,235 100,590 191,554
FCF margin 8,696.9% 9,388.94% 10,903.56% -1,251.54% - 6,368.42% 6,137.35% 11,508.96%
FCF Conversion (EBITDA) 75,019.19% 80,043.01% 73,827.58% - - 55,093.58% 49,082.85% 91,636.21%
FCF Conversion (Net income) 131,180.86% 131,958.63% 136,405.46% - - 118,062.36% 95,707.28% 195,047.81%
Dividend per Share 2 450.0 450.0 600.0 750.0 - 775.6 801.1 800.0
Announcement Date 2/10/20 2/5/21 2/8/22 2/7/23 2/6/24 - - -
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
Net sales 1 296.4 445 391.5 357.4 341.4 451.9 405.9 345.7 324.1 453.2 407.7 354.5 340.4 470.1
EBITDA - - - - - - - - - - - - - -
EBIT 1 31.81 51.71 59.12 27.41 32.62 49.16 54.3 5.801 8.792 31.59 38.6 12.8 19.84 42.32
Operating Margin 10.73% 11.62% 15.1% 7.67% 9.55% 10.88% 13.38% 1.68% 2.71% 6.97% 9.47% 3.61% 5.83% 9%
Earnings before Tax (EBT) 1 - 52.17 58.25 24.57 24.95 54.01 57.35 4.3 6.742 32.24 39.4 10.55 16.95 42.9
Net income 1 24.4 37.92 43.16 18.32 21.57 39.97 44.95 9.349 6.134 23.43 31.13 8.3 13.7 34.95
Net margin 8.23% 8.52% 11.03% 5.13% 6.32% 8.84% 11.08% 2.7% 1.89% 5.17% 7.64% 2.34% 4.02% 7.44%
EPS - - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 11/5/21 2/8/22 5/9/22 8/9/22 11/7/22 2/7/23 5/8/23 8/7/23 11/6/23 2/6/24 - - - -
1KRW in Billions
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 109 33.1 292 56.5 - 308 370 -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 2 109,569 112,282 151,276 -19,302 - 100,235 100,591 191,555
ROE (net income / shareholders' equity) 8.37% 7.85% 9.38% 9.55% - 6% 6.91% 6.34%
ROA (Net income/ Total Assets) 6.57% 6.16% 7.65% 7.59% - 5.02% 5.7% 4.79%
Assets 1 1,272 1,381 1,450 1,621 - 1,691 1,843 2,050
Book Value Per Share 3 47,591 51,075 56,342 60,819 - 61,840 65,505 68,894
Cash Flow per Share 3 6,209 6,800 7,834 1,530 - 7,208 8,036 8,448
Capex 1 26.8 37.1 20.8 52.9 - 55.8 56 39
Capex / Sales 2.13% 3.1% 1.5% 3.43% - 3.54% 3.42% 2.34%
Announcement Date 2/10/20 2/5/21 2/8/22 2/7/23 2/6/24 - - -
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
C
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
19,590 KRW
Average target price
26,611 KRW
Spread / Average Target
+35.84%
Consensus

Quarterly revenue - Rate of surprise

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