HANWHA SOLUTIONS CORPORATION Financials Hanwha Solutions Corporation
Equities
A009830
KR7009830001
Renewable Energy Equipment & Services
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 23,150 KRW | -2.73% |
|
-7.03% | -41.39% |
| 25/04 | Transcript : Hanwha Solutions Corporation, Q1 2024 Earnings Call, Apr 25, 2024 | |
| 19/04 | Nomura Adjusts Hanwha Solution’s Price Target to KRW33,000 From KRW45,000, Keeps at Buy | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 30,25,513 | 77,09,594 | 68,07,030 | 81,48,922 | 67,55,492 | 39,71,709 | - | - |
| Enterprise Value (EV) 2 | 7,817 | 12,006 | 10,885 | 12,469 | 6,755 | 13,026 | 12,677 | 13,211 |
| P/E ratio | -12.9 x | 25 x | 10.7 x | 22.2 x | - | -54.1 x | 6.79 x | 4.99 x |
| Yield | 1.06% | - | - | - | - | 1.3% | 1.44% | 1.3% |
| Capitalization / Revenue | 0.32 x | 0.84 x | 0.63 x | 0.6 x | 0.51 x | 0.31 x | 0.28 x | 0.26 x |
| EV / Revenue | 0.82 x | 1.31 x | 1.01 x | 0.91 x | 0.51 x | 1.01 x | 0.88 x | 0.88 x |
| EV / EBITDA | 8.32 x | 10.1 x | 7.85 x | 7.59 x | - | 11.2 x | 6.27 x | 5.75 x |
| EV / FCF | 192 x | 64.6 x | 65.3 x | -15.8 x | - | -6.55 x | 2,417 x | 39.6 x |
| FCF Yield | 0.52% | 1.55% | 1.53% | -6.31% | - | -15.3% | 0.04% | 2.53% |
| Price to Book | 0.53 x | 1.29 x | 0.83 x | 0.95 x | - | 0.54 x | 0.46 x | 0.45 x |
| Nbr of stocks (in thousands) | 1,44,596 | 1,44,313 | 1,72,274 | 1,70,519 | 1,71,888 | 1,71,888 | - | - |
| Reference price 3 | 20,976 | 53,302 | 39,504 | 47,850 | 39,500 | 23,150 | 23,150 | 23,150 |
| Announcement Date | 20/02/20 | 18/02/21 | 17/02/22 | 16/02/23 | 22/02/24 | - | - | - |
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 | 9,503 | 9,195 | 10,725 | 13,654 | 13,289 | 12,844 | 14,339 | 15,043 |
| EBITDA 1 | 940 | 1,189 | 1,387 | 1,642 | - | 1,165 | 2,023 | 2,296 |
| EBIT 1 | 378 | 594.2 | 738.3 | 966.2 | 604.5 | 425.8 | 1,163 | 1,451 |
| Operating Margin | 3.98% | 6.46% | 6.88% | 7.08% | 4.55% | 3.32% | 8.11% | 9.64% |
| Earnings before Tax (EBT) 1 | -217 | 451.5 | 865.3 | 577.1 | -102 | 6.427 | 859.3 | 1,058 |
| Net income 1 | -237.6 | 309.1 | 629 | 371.1 | -208.1 | -50.25 | 588.2 | 747 |
| Net margin | -2.5% | 3.36% | 5.86% | 2.72% | -1.57% | -0.39% | 4.1% | 4.97% |
| EPS 2 | -1,624 | 2,135 | 3,694 | 2,153 | - | -428.0 | 3,411 | 4,644 |
| Free Cash Flow 3 | 40,768 | 1,85,752 | 1,66,743 | -7,87,206 | - | -19,89,890 | 5,244 | 3,33,950 |
| FCF margin | 429.01% | 2,020.14% | 1,554.69% | -5,765.41% | - | -15,492.88% | 36.58% | 2,219.99% |
| FCF Conversion (EBITDA) | 4,337.07% | 15,622.92% | 12,021.43% | - | - | - | 259.27% | 14,545.12% |
| FCF Conversion (Net income) | - | 60,098.93% | 26,510.56% | - | - | - | 891.54% | 44,702.5% |
| Dividend per Share 2 | 222.6 | - | - | - | - | 300.0 | 332.3 | 300.0 |
| Announcement Date | 20/02/20 | 18/02/21 | 17/02/22 | 16/02/23 | 22/02/24 | - | - | - |
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 | 2,580 | 2,963 | 2,970 | 3,389 | 3,366 | 3,929 | 3,100 | 3,393 | 2,926 | 3,870 | 2,393 | 2,725 | 3,209 | 3,390 | - |
| EBITDA 1 | 321.2 | 247.3 | - | - | 507.6 | 354 | 440.2 | - | 267.9 | - | 121.4 | 257.5 | 491.3 | 582.6 | - |
| EBIT 1 | 178.4 | 84.27 | 157.9 | 277.8 | 348.4 | 182.2 | 271.4 | 194.1 | 98.34 | 40.69 | -216.6 | 59.61 | 192.8 | 266.5 | 310.3 |
| Operating Margin | 6.91% | 2.84% | 5.32% | 8.2% | 10.35% | 4.64% | 8.76% | 5.72% | 3.36% | 1.05% | -9.05% | 2.19% | 6.01% | 7.86% | - |
| Earnings before Tax (EBT) 1 | 248.6 | -210.2 | 125.4 | 334.5 | 222.5 | -105.3 | 201.2 | 44.31 | 33.6 | -381.1 | -517.5 | -24.86 | 102.7 | 166.4 | 168.8 |
| Net income 1 | 193.8 | -174.2 | 100.9 | 239 | 137 | -105.9 | 116.2 | 7.13 | 5.869 | -337.3 | -459.1 | -26.07 | 57.93 | 104.2 | 126.8 |
| Net margin | 7.51% | -5.88% | 3.4% | 7.05% | 4.07% | -2.7% | 3.75% | 0.21% | 0.2% | -8.72% | -19.19% | -0.96% | 1.81% | 3.07% | - |
| EPS | 1,125 | -1,160 | - | - | - | -609.8 | 629.0 | 41.00 | 34.00 | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 28/10/21 | 17/02/22 | 28/04/22 | 28/07/22 | 27/10/22 | 16/02/23 | 27/04/23 | 27/07/23 | 31/10/23 | 22/02/24 | 25/04/24 | - | - | - | - |
1KRW in Billions
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 4,791 | 4,296 | 4,078 | 4,320 | - | 9,054 | 8,705 | 9,239 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 5.097 x | 3.613 x | 2.94 x | 2.631 x | - | 7.774 x | 4.304 x | 4.024 x |
| Free Cash Flow 2 | 40,768 | 1,85,752 | 1,66,743 | -7,87,206 | - | -19,89,890 | 5,244 | 3,33,950 |
| ROE (net income / shareholders' equity) | -4.14% | 5.13% | 9.13% | 4.23% | - | -1.02% | 7.23% | 9.76% |
| ROA (Net income/ Total Assets) | -1.61% | 1.96% | 4.77% | 1.69% | - | 0.13% | 2.25% | 3.55% |
| Assets 1 | 14,758 | 15,785 | 13,176 | 21,919 | - | -38,505 | 26,116 | 21,044 |
| Book Value Per Share 3 | 39,474 | 41,271 | 47,468 | 50,563 | - | 43,052 | 49,809 | 51,855 |
| Cash Flow per Share 3 | 8,295 | 7,442 | 3,780 | 607.0 | - | 6,900 | 10,971 | 14,252 |
| Capex 1 | 1,165 | 884 | 824 | 903 | - | 2,601 | 1,368 | 1,227 |
| Capex / Sales | 12.26% | 9.61% | 7.68% | 6.61% | - | 20.25% | 9.54% | 8.16% |
| Announcement Date | 20/02/20 | 18/02/21 | 17/02/22 | 16/02/23 | 22/02/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
23
Last Close Price
23,150
KRW
Average target price
34,826
KRW
Spread / Average Target
+50.44%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -41.39% | 2.89B | |
| -18.69% | 19.47B | |
| +3.74% | 19.13B | |
| -15.29% | 15.23B | |
| -13.38% | 13.47B | |
| -13.32% | 10.6B | |
| +47.19% | 7.64B | |
| -16.81% | 7.26B | |
| -30.07% | 6.63B | |
| +22.15% | 6.03B |
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