Company Valuation: Hancom Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 637,706 288,857 340,713 509,065 554,678 413,433 - -
Change - -54.7% 17.95% 49.41% 8.96% -25.46% - -
Enterprise Value (EV) 1 454.7 136.6 205.9 408.8 420.7 354.3 272.3 315.3
Change - -69.96% 50.73% 98.56% 2.91% -15.77% -23.14% 15.79%
P/E 31.7x 6.68x 23x 36.7x 16.1x 7.8x 8.99x 9.22x
PBR 2.27x 1x 1.03x 1.47x 1.51x 1.06x 0.96x 0.9x
PEG - 0x -0.3x -5.06x 0x 0.1x -0.7x -3.68x
Capitalization / Revenue 1.61x 1.19x 1.26x 1.67x 1.7x 1.02x 1.01x 0.83x
EV / Revenue 1.15x 0.56x 0.76x 1.34x 1.29x 0.87x 0.67x 0.64x
EV / EBITDA 6.37x 2.57x 3.5x 6.63x 7.21x 4.79x 3.3x 3.68x
EV / EBIT 10.4x 5.46x 5.94x 10.1x 11.6x 7.19x 4.6x 4.9x
EV / FCF 11x 19.1x 6.47x 10x 7.18x -12.1x 6.45x 10.7x
FCF Yield 9.13% 5.25% 15.5% 9.98% 13.9% -8.24% 15.5% 9.36%
Dividend per Share 3 - - - 410 400 400 440 400
Rate of return - - - 1.94% 1.74% 2.3% 2.53% 2.3%
EPS 3 838 1,840 621 576 1,423 2,233 1,936 1,888
Distribution rate - - - 71.2% 28.1% 17.9% 22.7% 21.2%
Net sales 1 395.6 242 271.1 304.8 326.7 405.4 407.6 495.5
EBITDA 1 71.4 53.14 58.79 61.7 58.37 74 82.6 85.7
EBIT 1 43.8 25.02 34.66 40.37 36.4 49.3 59.25 64.3
Net income 1 7.813 16.84 15.08 13.15 34.38 55.6 46.5 47.6
Net Debt 1 -183 -152.3 -134.8 -100.3 -134 -59.1 -141.1 -98.1
Reference price 3 26,550.00 12,300.00 14,270.00 21,150.00 22,950.00 17,410.00 17,410.00 17,410.00
Nbr of stocks (in thousands) 24,019 23,484 23,876 24,069 24,169 23,747 - -
Announcement Date 25/02/22 24/02/23 16/02/24 24/02/25 18/03/26 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.72x0.86x4.73x2.32% 302M
15.77x4.26x8.9x-.--% 114B
19.98x12.74x15.18x-.--% 105B
27.82x5.74x13.88x-.--% 49.64B
36.04x4.52x13.5x-.--% 49.87B
16.81x5.99x15.3x0.85% 41.77B
16.85x6.47x13.22x-.--% 16.28B
24.69x2.26x13.05x-.--% 13.95B
27.57x - - 3.53% 11.1B
75.49x4.59x18.76x-.--% 9.91B
Average 26.87x 5.27x 12.95x 0.67% 41.14B
Weighted average by Cap. 22.96x 6.90x 12.97x 0.18%

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