Financials NAVER Corporation

Equities

A035420

KR7035420009

Internet Services

End-of-day quote Korea S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
181,500 KRW -0.66% Intraday chart for NAVER Corporation -0.49% -18.97%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 27,126,014 42,519,203 56,422,552 26,619,594 33,732,281 27,634,143 - -
Enterprise Value (EV) 2 24,457 41,355 50,954 24,388 33,526 25,859 25,160 23,266
P/E ratio 46.6 x 42.8 x 3.45 x 34.4 x 34.1 x 20.8 x 18 x 16.6 x
Yield 0.2% 0.14% 0.14% 0.51% 0.19% 0.58% 0.65% 0.66%
Capitalization / Revenue 4.11 x 8.02 x 8.28 x 3.24 x 3.49 x 2.58 x 2.34 x 2.18 x
EV / Revenue 3.71 x 7.8 x 7.47 x 2.97 x 3.47 x 2.42 x 2.13 x 1.84 x
EV / EBITDA 23.3 x 26.4 x 29 x 13.1 x 16.2 x 10.9 x 9.62 x 8.06 x
EV / FCF 26.6 x 78.5 x 81.4 x 32.4 x 24.6 x 16.4 x 13.3 x 13 x
FCF Yield 3.77% 1.27% 1.23% 3.09% 4.06% 6.1% 7.5% 7.68%
Price to Book 4.68 x 5.82 x 2.41 x 1.17 x 1.68 x 1.17 x 1.11 x 1.05 x
Nbr of stocks (in thousands) 145,448 145,365 149,069 149,970 150,591 152,254 - -
Reference price 3 186,500 292,500 378,500 177,500 224,000 181,500 181,500 181,500
Announcement Date 1/30/20 1/28/21 1/26/22 2/2/23 2/1/24 - - -
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 6,593 5,304 6,818 8,220 9,671 10,703 11,796 12,666
EBITDA 1 1,048 1,567 1,759 1,866 2,071 2,363 2,615 2,887
EBIT 1 710.1 1,215 1,325 1,305 1,489 1,725 1,954 2,163
Operating Margin 10.77% 22.91% 19.44% 15.87% 15.4% 16.12% 16.57% 17.08%
Earnings before Tax (EBT) 1 866.7 1,509 2,040 1,056 1,486 1,966 2,266 2,530
Net income 1 583.1 1,100 1,430 752.3 1,013 1,390 1,602 1,754
Net margin 8.84% 20.74% 20.97% 9.15% 10.47% 12.99% 13.58% 13.85%
EPS 2 4,006 6,839 109,860 5,161 6,576 8,743 10,104 10,959
Free Cash Flow 3 920,935 526,500 625,963 752,657 1,361,610 1,576,494 1,887,207 1,787,167
FCF margin 13,967.53% 9,926.2% 9,181.62% 9,156.32% 14,079.89% 14,729.3% 15,998.8% 14,110.04%
FCF Conversion (EBITDA) 87,852.4% 33,594.95% 35,587.42% 40,344.54% 65,741.41% 66,705.17% 72,160.3% 61,894.72%
FCF Conversion (Net income) 157,950.75% 47,856.46% 43,779.19% 100,047.44% 134,466.68% 113,425.46% 117,828.75% 101,876.4%
Dividend per Share 2 376.0 402.0 511.0 914.0 415.0 1,061 1,187 1,196
Announcement Date 1/30/20 1/28/21 1/26/22 2/2/23 2/1/24 - - -
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 1,727 1,928 1,845 2,046 2,057 2,272 2,280 2,408 2,445 2,537 2,495 2,638 2,697 2,823 2,809
EBITDA 1 - - - - 593.7 - - 445.5 - - 382.7 448.3 453.8 1,092 -
EBIT 1 349.8 351.2 301.8 336.2 330.2 336.5 330.5 372.7 380.2 405.5 390.8 427.6 439.9 463.7 459
Operating Margin 20.25% 18.22% 16.36% 16.43% 16.05% 14.81% 14.49% 15.48% 15.55% 15.98% 15.67% 16.21% 16.31% 16.43% 16.34%
Earnings before Tax (EBT) 1 495 473.5 256.6 263.2 374.7 161.5 116.6 421.1 504.5 443.8 402.4 480.5 536 512.4 -
Net income 1 331.9 256.1 171.2 183.3 257 140.8 55.1 267.7 375.8 314.1 301.7 357 392.8 376.2 -
Net margin 19.21% 13.29% 9.28% 8.96% 12.49% 6.2% 2.42% 11.12% 15.37% 12.38% 12.09% 13.54% 14.56% 13.33% -
EPS 2 - - 1,118 1,198 1,689 1,156 320.0 1,735 2,462 2,057 1,587 2,560 2,555 2,135 -
Dividend per Share 2 - - - - - - - 415.0 - 415.0 - - - 800.0 -
Announcement Date 10/20/21 1/26/22 4/20/22 8/4/22 11/6/22 2/2/23 5/7/23 8/3/23 11/2/23 2/1/24 - - - - -
1KRW in Billions2KRW
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 2,669 1,165 5,468 2,231 206 1,775 2,474 4,369
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 2 920,935 526,500 625,963 752,657 1,361,610 1,576,494 1,887,207 1,787,167
ROE (net income / shareholders' equity) 10.6% 11.3% 107% 2.8% 4.41% 5.66% 6.17% 6.51%
ROA (Net income/ Total Assets) 5.26% 5.71% 65% 2.25% 2.91% 3.74% 4.12% 4.28%
Assets 1 11,090 19,277 2,200 33,441 34,828 37,190 38,895 41,023
Book Value Per Share 3 39,889 50,278 156,900 151,646 133,212 154,505 162,943 172,042
Cash Flow per Share 3 9,323 9,877 9,199 9,662 13,273 15,120 15,790 19,345
Capex 1 490 646 754 701 641 779 763 813
Capex / Sales 7.43% 12.18% 11.06% 8.52% 6.62% 7.28% 6.47% 6.42%
Announcement Date 1/30/20 1/28/21 1/26/22 2/2/23 2/1/24 - - -
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-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
32
Last Close Price
181,500 KRW
Average target price
267,500 KRW
Spread / Average Target
+47.38%
Consensus
1st Jan change Capi.
-18.97% 20.08B
-15.59% 35.25B
-24.19% 18.05B
-.--% 6.85B
-6.87% 253M
+11.36% 109M
-9.29% 68.39M
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