Financials Nasmedia Co., Ltd.

Equities

A089600

KR7089600001

Advertising & Marketing

End-of-day quote Korea S.E. Other stock markets 23:00:00 28/04/2024 BST			5-day change	1st Jan Change
19,110 ^KRW	-1.09%		+1.59%	-14.30%

03-06	Nasmedia Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	Nasmedia Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	291,969	286,184	338,396	282,755	252,128	216,061	-	-
Enterprise Value (EV) ²	270.9	236.1	195.8	133.5	252.1	47.16	11.53	-41.94
P/E ratio	14.1 x	11.4 x	11.8 x	9.6 x	-	8.65 x	7.59 x	7.68 x
Yield	1.98%	2.61%	2.43%	2.8%	-	3.75%	3.97%	3.92%
Capitalization / Revenue	2.5 x	2.56 x	2.73 x	1.86 x	1.72 x	1.29 x	1.17 x	1.13 x
EV / Revenue	2.32 x	2.12 x	1.58 x	0.88 x	1.72 x	0.28 x	0.06 x	-0.22 x
EV / EBITDA	7.98 x	6.35 x	4.95 x	3.58 x	-	1.28 x	0.29 x	-1.1 x
EV / FCF	8.52 x	5.18 x	4.7 x	6.94 x	-	1.36 x	0.25 x	-1.31 x
FCF Yield	11.7%	19.3%	21.3%	14.4%	-	73.3%	403%	-76.3%
Price to Book	2.06 x	1.56 x	1.65 x	1.25 x	-	0.96 x	0.88 x	0.83 x
Nbr of stocks (in thousands)	11,652	11,316	11,314	11,310	11,306	11,306	-	-
Reference price ³	25,056	25,289	29,909	25,000	22,300	19,110	19,110	19,110
Announcement Date	05/02/20	04/02/21	08/02/22	07/02/23	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	117	111.6	124.2	152.4	146.8	167.8	184.6	191
EBITDA ¹	33.95	37.17	39.53	37.26	-	36.8	40.35	38
EBIT ¹	30.56	26.97	32.88	33.05	20.52	30.9	35.65	35.5
Operating Margin	26.12%	24.16%	26.48%	21.69%	13.98%	18.41%	19.31%	18.59%
Earnings before Tax (EBT) ¹	31.56	29.85	36.06	36.03	21.9	34.88	39.62	39
Net income ¹	20.62	22.89	26.15	26.78	-	25.6	29.2	28.5
Net margin	17.62%	20.5%	21.06%	17.57%	-	15.26%	15.81%	14.92%
EPS ²	1,775	2,225	2,542	2,605	-	2,210	2,518	2,489
Free Cash Flow ³	31,789	45,557	41,702	19,237	-	34,567	46,400	32,000
FCF margin	27,168.86%	40,806.26%	33,586.88%	12,622.88%	-	20,599.92%	25,128.62%	16,753.93%
FCF Conversion (EBITDA)	93,632.18%	122,574.76%	105,489.24%	51,631.57%	-	93,931.16%	114,993.8%	84,210.53%
FCF Conversion (Net income)	154,175.63%	199,023.65%	159,477.63%	71,823.57%	-	135,026.04%	158,904.11%	112,280.7%
Dividend per Share ²	495.9	661.2	727.3	700.0	-	715.8	758.2	750.0
Announcement Date	05/02/20	04/02/21	08/02/22	07/02/23	07/02/24	-	-	-

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	30.91	36.33	32.56	39.05	39.51	41.28	32.1	35.4	39.78	39.48	35.08	37.75	44.25	46.65
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	8.145	10.69	6.919	10.79	8.461	6.883	2.439	4.692	7.234	6.152	4.675	5.95	8.8	9.2
Operating Margin	26.35%	29.43%	21.25%	27.63%	21.41%	16.68%	7.6%	13.25%	18.18%	15.58%	13.33%	15.76%	19.89%	19.72%
Earnings before Tax (EBT) ¹	9	11.27	7.368	11.34	9.346	7.972	3.707	6.157	8.64	3.391	7.35	-	-	-
Net income ¹	6.732	8.055	4.994	7.718	6.789	7.282	2.879	4.702	6.214	2.919	4.15	5.1	7.3	7.05
Net margin	21.78%	22.17%	15.34%	19.77%	17.18%	17.64%	8.97%	13.28%	15.62%	7.39%	11.83%	13.51%	16.5%	15.11%
EPS ²	-	782.7	-	-	-	-	-	416.0	-	-	1,929	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	02/11/21	08/02/22	11/05/22	12/08/22	09/11/22	07/02/23	12/05/23	08/08/23	09/11/23	07/02/24	-	-	-	-

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	21.1	50	143	149	-	169	205	258
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ²	31,789	45,557	41,702	19,237	-	34,567	46,400	32,000
ROE (net income / shareholders' equity)	15.1%	14.8%	14.8%	13.7%	-	11.6%	12.1%	11.3%
ROA (Net income/ Total Assets)	6.25%	5.88%	5.73%	5.31%	-	5%	5.3%	5.1%
Assets ¹	329.7	389.2	456.2	504.2	-	512	550.9	558.8
Book Value Per Share ³	12,178	16,211	18,137	19,944	-	19,841	21,682	23,060
Cash Flow per Share	2,790	-	4,326	-	-	-	-	-
Capex ¹	0.63	1.52	2.8	2.78	-	2.58	2.68	1.5
Capex / Sales	0.54%	1.37%	2.25%	1.82%	-	1.53%	1.45%	0.79%
Announcement Date	05/02/20	04/02/21	08/02/22	07/02/23	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 Nasmedia Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

19,110 KRW

Average target price

29,750 KRW

Spread / Average Target

+55.68%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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