Company Valuation: NH Investment & Securities Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,924,224 3,067,647 3,603,605 4,788,451 7,873,746 11,543,057 - -
Change - -21.83% 17.47% 32.88% 64.43% 46.6% - -
Enterprise Value (EV) 3,924,224 3,067,647 3,603,605 4,788,451 7,873,746 11,543,057 11,543,057 11,543,057
Change - -21.83% 17.47% 32.88% 64.43% 46.6% 0% 0%
P/E 4.07x 9.95x 6.51x 7.1x 7.32x 7.66x 8.71x 8.4x
PBR 0.54x 0.4x 0.45x 0.56x 0.8x 1.11x 1.05x 0.98x
PEG - -0.1x 0.1x 0.3x 0.2x 0.2x -0.7x 2.29x
Capitalization / Revenue 1.68x 2.25x 2.15x 2.38x 2.94x 3.13x 3.32x 3.24x
EV / Revenue 0x 0x 0x 0x 0x 3.13x 3.32x 3.24x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 5.62x 6.24x 6.05x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1,050 700 800 950 1,300 1,808 1,697 1,777
Rate of return 8.4% 7.98% 7.74% 6.81% 6.16% 5.8% 5.45% 5.7%
EPS 2 3,071 881 1,588 1,966 2,882 4,066 3,576 3,707
Distribution rate 34.2% 79.5% 50.4% 48.3% 45.1% 44.5% 47.5% 47.9%
Net sales 1 2,341 1,366 1,678 2,012 2,676 3,683 3,476 3,560
EBITDA - - - - - - - -
EBIT 1 1,317 521.4 749.2 901.1 1,421 2,056 1,851 1,908
Net income 1 947.9 303.4 573.9 686.7 1,032 1,508 1,358 1,404
Net Debt - - - - - - - -
Reference price 2 12,500.00 8,770.00 10,330.00 13,950.00 21,100.00 31,150.00 31,150.00 31,150.00
Nbr of stocks (in thousands) 315,221 349,853 349,853 345,680 374,532 374,532 - -
Announcement Date 21/01/22 01/02/23 26/01/24 04/03/25 29/01/26 - - -
1KRW in Billions2KRW
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
7.77x - - 5.72% 7.8B
18.3x7.57x - 1.91% 351B
17.39x11.4x - 1.77% 324B
12.86x - - 1.79% 240B
17.21x - - 1.23% 179B
11.39x1.13x - 3.05% 60.23B
16.03x5.09x - 3.44% 28.37B
7.42x - - 3.92% 28.01B
11.5x8.35x - 3.72% 27.92B
16.6x1.5x9.66x0.38% 25.36B
Average 13.65x 5.84x 9.66x 2.69% 127.13B
Weighted average by Cap. 16.02x 8.37x 9.66x 1.92%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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