Financials Samsung Electronics Co., Ltd. Korea S.E.

Equities

A005935

KR7005931001

Phones & Handheld Devices

End-of-day quote Korea S.E. Other stock markets 23:00:00 25/06/2024 BST			5-day change	1st Jan Change
64,200 ^KRW	-0.31%		+1.26%	+3.05%

09:35am	South Korean Shares Break Two-Day Winning Streak on Profit-Booking; SK Inc Loses 2% Despite SK On Contract with ExxonMobil	MT
07:10am	South Korea, Taiwan stocks decline; Philippines c.bank in focus	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	370,472,922	544,116,848	526,023,507	371,684,753	519,893,772	538,172,647	-	-
Enterprise Value (EV) ²	276,732	439,607	420,214	266,795	440,204	447,096	424,724	394,248
P/E ratio	17.6 x	21.1 x	13.6 x	6.86 x	36.8 x	15.3 x	11.1 x	10.5 x
Yield	2.54%	1.75%	1.84%	2.61%	1.84%	1.78%	1.78%	1.79%
Capitalization / Revenue	1.61 x	2.3 x	1.88 x	1.23 x	2.01 x	1.72 x	1.52 x	1.44 x
EV / Revenue	1.2 x	1.86 x	1.5 x	0.88 x	1.7 x	1.43 x	1.2 x	1.05 x
EV / EBITDA	5.09 x	6.97 x	5.07 x	3.36 x	10.5 x	5.43 x	4.01 x	3.57 x
EV / FCF	13.8 x	15.9 x	23.4 x	20.8 x	-32.7 x	22.2 x	11 x	8.13 x
FCF Yield	7.23%	6.3%	4.28%	4.8%	-3.06%	4.5%	9.06%	12.3%
Price to Book	1.31 x	2.06 x	1.58 x	0.96 x	1.33 x	1.44 x	1.3 x	1.2 x
Nbr of stocks (in thousands)	6,792,669	6,792,669	6,792,669	6,792,669	6,792,669	6,792,669	-	-
Reference price ³	55,800	81,000	78,300	55,300	78,500	81,300	81,300	81,300
Announcement Date	30/01/20	28/01/21	26/01/22	30/01/23	30/01/24	-	-	-

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	230,400	236,810	279,605	302,230	258,936	312,899	352,918	374,985
EBITDA ¹	54,340	63,110	82,920	79,330	42,100	82,273	105,875	110,450
EBIT ¹	27,770	35,990	51,634	43,380	6,540	42,209	61,868	65,560
Operating Margin	12.05%	15.2%	18.47%	14.35%	2.53%	13.49%	17.53%	17.48%
Earnings before Tax (EBT) ¹	30,430	36,350	53,352	46,440	11,006	46,123	65,661	71,469
Net income ¹	21,510	26,090	39,244	54,730	14,473	35,402	48,652	50,926
Net margin	9.34%	11.02%	14.04%	18.11%	5.59%	11.31%	13.79%	13.58%
EPS ²	3,166	3,841	5,777	8,057	2,131	5,324	7,304	7,722
Free Cash Flow ³	20,010,000	27,700,000	17,990,000	12,800,000	-13,480,000	20,101,969	38,499,647	48,476,867
FCF margin	8,684.9%	11,697.14%	6,434.08%	4,235.19%	-5,205.93%	6,424.43%	10,908.94%	12,927.69%
FCF Conversion (EBITDA)	36,823.7%	43,891.62%	21,695.61%	16,135.13%	-	24,433.3%	36,363.29%	43,890.24%
FCF Conversion (Net income)	93,026.5%	106,170.95%	45,841.64%	23,387.54%	-	56,782.68%	79,132.8%	95,191.57%
Dividend per Share ²	1,416	1,416	1,444	1,444	1,444	1,450	1,444	1,452
Announcement Date	30/01/20	28/01/21	26/01/22	30/01/23	30/01/24	-	-	-

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 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	76,566	77,782	77,000	76,780	70,460	63,750	60,000	123,751	67,000	67,780	71,916	73,617	83,216	84,677	85,058	86,825
EBITDA ¹	22,730	23,130	23,170	19,880	13,150	9,440	9,440	-	11,300	11,880	15,840	19,014	23,034	25,151	25,397	30,858
EBIT ¹	13,867	14,121	14,000	10,850	4,310	640	600	-	2,400	2,800	6,600	8,467	12,562	14,025	15,260	16,732
Operating Margin	18.11%	18.16%	18.18%	14.13%	6.12%	1%	1%	-	3.58%	4.13%	9.18%	11.5%	15.1%	16.56%	17.94%	19.27%
Earnings before Tax (EBT) ¹	14,363	15,070	14,460	11,860	5,050	1,826	1,713	-	3,943	3,524	7,707	9,809	13,992	15,592	16,342	17,163
Net income ¹	10,643	11,129	10,950	9,140	23,500	1,401	1,547	-	5,501	6,024	6,621	7,197	10,275	11,468	12,181	13,120
Net margin	13.9%	14.31%	14.22%	11.9%	33.35%	2.2%	2.58%	-	8.21%	8.89%	9.21%	9.78%	12.35%	13.54%	14.32%	15.11%
EPS ²	1,566	1,638	1,613	1,346	3,460	206.0	228.0	434.0	810.0	887.0	975.0	1,200	1,637	1,907	1,920	2,066
Dividend per Share ²	-	-	361.0	361.0	361.0	361.0	361.0	-	361.0	361.0	361.0	361.0	361.0	361.0	361.0	361.0
Announcement Date	26/01/22	27/04/22	06/07/22	27/10/22	30/01/23	26/04/23	06/07/23	06/07/23	10/10/23	30/01/24	29/04/24	-	-	-	-	-

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	93,741	104,510	105,810	104,890	79,690	91,076	113,448	143,925
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ²	20,010,000	27,700,000	17,990,000	12,800,000	-13,480,000	20,101,969	38,499,647	48,476,867
ROE (net income / shareholders' equity)	8.69%	10%	14%	17%	4%	10.1%	12.6%	11.9%
ROA (Net income/ Total Assets)	6.22%	7.14%	9.75%	12.5%	3.2%	7.6%	9.52%	8.79%
Assets ¹	345,959	365,401	402,429	437,525	452,265	466,006	511,243	579,589
Book Value Per Share ³	42,701	39,406	49,629	57,822	59,170	56,309	62,628	67,642
Cash Flow per Share ³	6,680	9,612	9,586	10,416	6,499	11,971	14,257	14,168
Capex ¹	25,370	37,590	47,120	49,430	57,610	53,518	55,044	57,873
Capex / Sales	11.01%	15.87%	16.85%	16.36%	22.25%	17.1%	15.6%	15.43%
Announcement Date	30/01/20	28/01/21	26/01/22	30/01/23	30/01/24	-	-	-

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 Samsung Electronics Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

81,300 KRW

Average target price

105,432 KRW

Spread / Average Target

+29.68%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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