Financials CJ Cheiljedang Corporation

Equities

A097950

KR7097950000

Food Processing

End-of-day quote Korea S.E. Other stock markets 03:30:00 07/05/2024 am IST			5-day change	1st Jan Change
3,37,500 ^KRW	-0.74%		+0.15%	+4.17%

08/04	Korean Food Companies Boost R&D as Ramyun, Dumplings Gain Popularity	MT
29/02	CJ Cheiljedang Files 20 Million Yuan Patent Case Against Star Lake Bioscience's Unit	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	38,55,531	58,21,669	59,30,461	58,15,646	49,39,647	51,53,838	-	-
Enterprise Value (EV) ²	10,838	13,153	14,345	13,792	4,940	13,984	13,705	14,984
P/E ratio	26.5 x	8.91 x	10.1 x	10.2 x	-	9.77 x	8.35 x	7.65 x
Yield	1.39%	0.92%	1.29%	1.45%	-	1.79%	1.87%	1.88%
Capitalization / Revenue	0.17 x	0.24 x	0.23 x	0.19 x	0.17 x	0.17 x	0.16 x	0.15 x
EV / Revenue	0.48 x	0.54 x	0.55 x	0.46 x	0.17 x	0.46 x	0.43 x	0.45 x
EV / EBITDA	5.4 x	4.98 x	5.15 x	4.5 x	-	4.56 x	4.22 x	4.32 x
EV / FCF	18.4 x	12.7 x	41.9 x	74.8 x	-	17.3 x	12.3 x	13.2 x
FCF Yield	5.44%	7.86%	2.39%	1.34%	-	5.8%	8.14%	7.58%
Price to Book	0.76 x	1.06 x	1.02 x	0.9 x	-	0.72 x	0.66 x	0.62 x
Nbr of stocks (in thousands)	16,023	16,023	16,023	16,023	16,023	16,023	-	-
Reference price ³	2,52,500	3,81,000	3,87,500	3,80,500	3,24,000	3,37,500	3,37,500	3,37,500
Announcement Date	12/02/20	08/02/21	14/02/22	13/02/23	13/02/24	-	-	-

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	22,352	24,246	26,289	30,080	29,023	30,394	31,768	33,428
EBITDA ¹	2,007	2,642	2,786	3,068	-	3,066	3,251	3,465
EBIT ¹	896.9	1,360	1,524	1,665	1,292	1,578	1,748	1,900
Operating Margin	4.01%	5.61%	5.8%	5.53%	4.45%	5.19%	5.5%	5.68%
Earnings before Tax (EBT) ¹	338.8	1,178	1,218	1,246	732	1,045	1,236	1,354
Net income ¹	152.5	685.6	612.9	595.9	385.9	546	643.1	719.8
Net margin	0.68%	2.83%	2.33%	1.98%	1.33%	1.8%	2.02%	2.15%
EPS ²	9,516	42,783	38,246	37,188	-	34,550	40,395	44,139
Free Cash Flow ³	5,89,194	10,33,300	3,42,489	1,84,302	-	8,10,580	11,16,233	11,36,533
FCF margin	2,635.92%	4,261.78%	1,302.77%	612.72%	-	2,666.89%	3,513.74%	3,399.94%
FCF Conversion (EBITDA)	29,353.01%	39,109.03%	12,291.07%	6,007.24%	-	26,435.18%	34,337.62%	32,799.44%
FCF Conversion (Net income)	3,86,240.2%	1,50,718.67%	55,881.01%	30,926.77%	-	1,48,460.9%	1,73,576.72%	1,57,895.71%
Dividend per Share ²	3,500	3,500	5,000	5,500	-	6,045	6,318	6,333
Announcement Date	12/02/20	08/02/21	14/02/22	13/02/23	13/02/24	-	-	-

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	2025 Q1
Net sales ¹	6,854	6,948	6,980	7,517	8,012	7,571	7,071	7,219	7,443	7,289	7,282	7,425	7,798	7,797	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	433.2	236.6	435.7	504.3	484.2	240.6	252.8	344.6	396	298.3	343.1	372.8	461.4	414.1	-
Operating Margin	6.32%	3.41%	6.24%	6.71%	6.04%	3.18%	3.57%	4.77%	5.32%	4.09%	4.71%	5.02%	5.92%	5.31%	-
Earnings before Tax (EBT) ¹	286.3	180.1	361.3	369.3	370.2	144.7	99.27	176.9	304.8	151	216.8	217.6	321.7	263	-
Net income ¹	150.6	122.7	199	176.7	168.6	51.7	6.628	65.93	200.9	112.5	105.1	102.6	159.1	132.5	-
Net margin	2.2%	1.77%	2.85%	2.35%	2.1%	0.68%	0.09%	0.91%	2.7%	1.54%	1.44%	1.38%	2.04%	1.7%	-
EPS	-	2,397	12,462	11,030	10,523	3,223	414.0	4,114	12,538	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	-	-	-	6,500	-
Announcement Date	08/11/21	14/02/22	09/05/22	08/08/22	14/11/22	13/02/23	08/05/23	07/08/23	13/11/23	13/02/24	-	-	-	-	-

¹KRW in Billions²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	6,982	7,331	8,415	7,977	-	8,831	8,551	9,831
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.479 x	2.775 x	3.02 x	2.6 x	-	2.88 x	2.63 x	2.837 x
Free Cash Flow ²	5,89,194	10,33,300	3,42,489	1,84,302	-	8,10,580	11,16,233	11,36,533
ROE (net income / shareholders' equity)	3.16%	13.5%	10.8%	9.26%	-	7.6%	8.48%	8.37%
ROA (Net income/ Total Assets)	0.67%	2.64%	2.34%	2.1%	-	2.09%	2.4%	2.9%
Assets ¹	22,888	25,946	26,234	28,434	-	26,178	26,795	24,821
Book Value Per Share ³	3,32,103	3,58,878	3,81,542	4,21,621	-	4,71,513	5,07,994	5,47,392
Cash Flow per Share ³	1,33,689	1,36,202	1,14,746	1,10,724	-	1,29,200	1,35,974	-
Capex ¹	1,554	968	1,344	1,443	-	1,329	1,343	1,449
Capex / Sales	6.95%	3.99%	5.11%	4.8%	-	4.37%	4.23%	4.33%
Announcement Date	12/02/20	08/02/21	14/02/22	13/02/23	13/02/24	-	-	-

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 Cheiljedang Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,37,500 KRW

Average target price

4,28,083 KRW

Spread / Average Target

+26.84%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Food Processing

	1st Jan change	Capi.
CJ CHEILJEDANG CORPORATION	+4.17%	3.8B
NESTLÉ S.A.	-4.52%	266B
MONDELEZ INTERNATIONAL, INC.	-2.13%	95.09B
KRAFT HEINZ	-3.16%	43.48B
DANONE	+0.82%	40.63B
THE HERSHEY COMPANY	+6.29%	40.07B
GENERAL MILLS, INC.	+7.32%	39.47B
ARCHER-DANIELS-MIDLAND COMPANY	-14.72%	30.45B
NESTLÉ INDIA LIMITED	-4.55%	28.98B
ASSOCIATED BRITISH FOODS PLC	+13.90%	25.18B

Other Food Processing