CORENTEC CO., LTD.

Financials Corentec Co., Ltd.

Equities

A104540

KR7104540000

Medical Equipment, Supplies & Distribution

End-of-day quote Korea S.E. Other stock markets 03:30:00 20/05/2024 am IST			5-day change	1st Jan Change
8,910 ^KRW	-2.73%		-2.41%	-24.75%

2023	Corentec Co., Ltd. announced that it has received KRW 1.19999236 billion in funding	CI
2023	Corentec Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2023	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	60,418	59,607	2,02,289	1,43,139	1,33,362	1,51,047
Enterprise Value (EV) ¹	77,516	73,437	2,15,250	1,44,023	1,40,150	1,71,482
P/E ratio	-2.03 x	22.9 x	118 x	189 x	74 x	47.1 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	1.81 x	1.48 x	5 x	3.21 x	2.09 x	1.64 x
EV / Revenue	2.32 x	1.83 x	5.32 x	3.23 x	2.19 x	1.86 x
EV / EBITDA	90.3 x	11.6 x	31.7 x	20.3 x	14.5 x	14.3 x
EV / FCF	1,166 x	-187 x	-13.7 x	-34.6 x	-61.5 x	-14.9 x
FCF Yield	0.09%	-0.54%	-7.32%	-2.89%	-1.62%	-6.71%
Price to Book	2.51 x	1.99 x	4.36 x	2.53 x	2.03 x	2.05 x
Nbr of stocks (in thousands)	9,937	10,587	11,626	11,830	12,348	12,757
Reference price ²	6,080	5,630	17,400	12,100	10,800	11,840
Announcement Date	28/03/19	19/03/20	22/03/21	22/03/22	22/03/23	21/03/24

¹KRW in Million²KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	33,406	40,189	40,496	44,630	63,909	92,046
EBITDA ¹	858.5	6,340	6,788	7,087	9,699	11,985
EBIT ¹	-5,211	3,282	3,990	3,779	5,845	7,006
Operating Margin	-15.6%	8.17%	9.85%	8.47%	9.15%	7.61%
Earnings before Tax (EBT) ¹	-29,527	1,902	2,057	2,056	2,465	6,787
Net income ¹	-29,763	2,506	1,574	763.9	1,781	4,055
Net margin	-89.1%	6.23%	3.89%	1.71%	2.79%	4.41%
EPS ²	-2,995	246.0	147.3	64.00	146.0	251.5
Free Cash Flow ¹	66.51	-393.4	-15,753	-4,163	-2,277	-11,503
FCF margin	0.2%	-0.98%	-38.9%	-9.33%	-3.56%	-12.5%
FCF Conversion (EBITDA)	7.75%	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	28/03/19	19/03/20	22/03/21	22/03/22	22/03/23	21/03/24

¹KRW in Million²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	17,099	13,830	12,961	883	6,788	20,435
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	19.92 x	2.181 x	1.909 x	0.1246 x	0.6999 x	1.705 x
Free Cash Flow ¹	66.5	-393	-15,753	-4,163	-2,277	-11,503
ROE (net income / shareholders' equity)	-76.4%	9.28%	4.12%	1.48%	4.02%	6.31%
ROA (Net income/ Total Assets)	-3.96%	3.23%	3.14%	2.2%	2.51%	2.44%
Assets ¹	7,51,991	77,601	50,156	34,783	70,864	1,66,223
Book Value Per Share ²	2,424	2,828	3,992	4,788	5,324	5,782
Cash Flow per Share ²	841.0	390.0	560.0	1,146	1,273	1,339
Capex ¹	3,951	3,296	6,396	8,387	6,153	10,491
Capex / Sales	11.83%	8.2%	15.79%	18.79%	9.63%	11.4%
Announcement Date	28/03/19	19/03/20	22/03/21	22/03/22	22/03/23	21/03/24

¹KRW in Million²KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

Company calendar

Sector Medical Devices & Implants

	1st Jan change	Capi.
CORENTEC CO., LTD.	-24.75%	8.38Cr
STRYKER CORPORATION	+10.11%	13TCr
SMITH & NEPHEW PLC	-6.28%	1.13TCr
IMEIK TECHNOLOGY DEVELOPMENT CO.,LTD.	+6.07%	927.24Cr
GLAUKOS CORPORATION	+37.46%	550.06Cr
INSPIRE MEDICAL SYSTEMS, INC.	-23.66%	461.38Cr
AXONICS, INC.	+8.53%	344.58Cr
ENOVIS CORPORATION	-8.69%	280.56Cr
BEIJING BALANCE MEDICAL TECHNOLOGY CO.,LTD.	-10.91%	209.47Cr
SHANGHAI MICROPORT ENDOVASCULAR MEDTECH CO., LTD.	-6.38%	208.36Cr

Medical Devices & Implants

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A104540 Stock
Financials Corentec Co., Ltd.

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