Financials CJ Logistics Corporation

Equities

A000120

KR7000120006

Ground Freight & Logistics

End-of-day quote Korea S.E. Other stock markets 23:00:00 25/06/2024 BST			5-day change	1st Jan Change
96,000 ^KRW	-1.23%		-2.93%	-24.53%

05-21	CJ Logistics to Establish New Cold Chain Logistics Center in North America's New Century	MT
02-16	CJ Logistics Announces CEO Changes	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,813,754	3,004,363	2,513,049	1,868,836	2,536,990	1,914,709	-	-
Enterprise Value (EV) ²	5,705	5,643	5,097	3,624	4,095	4,217	3,985	3,669
P/E ratio	115 x	29.1 x	68.4 x	11.4 x	12.3 x	7.98 x	6.77 x	5.94 x
Yield	-	-	-	0.53%	0.39%	0.52%	0.52%	0.59%
Capitalization / Revenue	0.27 x	0.28 x	0.22 x	0.15 x	0.22 x	0.16 x	0.15 x	0.15 x
EV / Revenue	0.55 x	0.52 x	0.45 x	0.3 x	0.35 x	0.34 x	0.31 x	0.28 x
EV / EBITDA	7.72 x	7 x	6.22 x	3.92 x	3.87 x	3.9 x	3.46 x	3.07 x
EV / FCF	13.1 x	21.7 x	38.7 x	9.85 x	7.07 x	11.5 x	10.5 x	9.49 x
FCF Yield	7.62%	4.61%	2.58%	10.2%	14.1%	8.69%	9.56%	10.5%
Price to Book	1.18 x	1.13 x	1.05 x	0.52 x	0.7 x	0.53 x	0.49 x	0.46 x
Nbr of stocks (in thousands)	18,153	18,153	19,945	19,945	19,945	19,945	-	-
Reference price ³	155,000	165,500	126,000	93,700	127,200	96,000	96,000	96,000
Announcement Date	10/02/20	08/02/21	11/02/22	08/02/23	07/02/24	-	-	-

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	10,415	10,781	11,344	12,131	11,768	12,249	12,752	13,154
EBITDA ¹	739.4	806.1	820.1	923.9	1,059	1,081	1,153	1,196
EBIT ¹	307.2	325.3	343.9	411.8	480.2	528.6	584.6	634.6
Operating Margin	2.95%	3.02%	3.03%	3.39%	4.08%	4.32%	4.58%	4.82%
Earnings before Tax (EBT) ¹	93.83	202.3	239.2	285.3	325	389	456.9	522.1
Net income ¹	39.73	123	54.74	181.6	224.8	266.2	311.8	359.9
Net margin	0.38%	1.14%	0.48%	1.5%	1.91%	2.17%	2.44%	2.74%
EPS ²	1,349	5,683	1,841	8,190	10,357	12,031	14,173	16,148
Free Cash Flow ³	434,804	260,085	131,723	368,043	579,489	366,500	381,167	386,500
FCF margin	4,174.74%	2,412.41%	1,161.21%	3,033.98%	4,924.32%	2,992.11%	2,989.07%	2,938.35%
FCF Conversion (EBITDA)	58,805.72%	32,262.67%	16,062.36%	39,837.24%	54,698.76%	33,905.67%	33,057.65%	32,322.27%
FCF Conversion (Net income)	1,094,479.39%	211,399.64%	240,625.23%	202,719.45%	257,776.26%	137,688.92%	122,256.56%	107,384.97%
Dividend per Share ²	-	-	-	500.0	500.0	500.0	500.0	562.5
Announcement Date	10/02/20	08/02/21	11/02/22	08/02/23	07/02/24	-	-	-

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 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	3,057	2,857	3,137	3,113	3,023	2,808	2,962	2,937	3,061	2,921	3,050	3,048	3,170	2,998	3,144
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	99.83	75.66	116.1	107.7	112.3	99.04	112.4	124.8	144	109.4	128.2	138.2	153.7	116	139
Operating Margin	3.27%	2.65%	3.7%	3.46%	3.72%	3.53%	3.79%	4.25%	4.71%	3.74%	4.2%	4.54%	4.85%	3.87%	4.42%
Earnings before Tax (EBT) ¹	59.12	47.48	91.01	85.36	61.5	65.86	77.22	82.33	99.56	75.27	97.72	114.4	92.5	83	108
Net income ¹	56.94	27.02	61.54	56.26	36.73	44.62	53.88	52.12	74.18	49.26	65.49	71.95	69.52	54	72
Net margin	1.86%	0.95%	1.96%	1.81%	1.21%	1.59%	1.82%	1.77%	2.42%	1.69%	2.15%	2.36%	2.19%	1.8%	2.29%
EPS ²	2,629	1,129	2,859	2,595	1,607	2,009	2,472	2,385	3,490	2,328	3,106	2,973	3,634	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/02/22	09/05/22	08/08/22	07/11/22	08/02/23	04/05/23	07/08/23	06/11/23	07/02/24	10/05/24	-	-	-	-	-

¹KRW in Billions²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	2,891	2,639	2,584	1,755	1,558	2,302	2,070	1,754
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.91 x	3.273 x	3.151 x	1.9 x	1.471 x	2.13 x	1.796 x	1.467 x
Free Cash Flow ²	434,804	260,085	131,723	368,043	579,489	366,500	381,167	386,500
ROE (net income / shareholders' equity)	1.41%	3.89%	1.59%	5.09%	6.27%	6.87%	7.63%	8.14%
ROA (Net income/ Total Assets)	0.47%	1.31%	0.59%	1.94%	2.36%	2.89%	3.4%	3.82%
Assets ¹	8,489	9,377	9,319	9,344	9,526	9,211	9,162	9,417
Book Value Per Share ³	131,146	146,331	119,908	179,031	180,691	181,724	195,512	209,441
Cash Flow per Share ³	46,781	30,977	11,574	31,233	41,945	44,290	46,650	52,623
Capex ¹	414	312	212	255	257	344	367	370
Capex / Sales	3.98%	2.9%	1.87%	2.1%	2.18%	2.81%	2.88%	2.81%
Announcement Date	10/02/20	08/02/21	11/02/22	08/02/23	07/02/24	-	-	-

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

Ratings for CJ Logistics Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

96,000 KRW

Average target price

156,769 KRW

Spread / Average Target

+63.30%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC.	-15.16%	7.78B
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