Financials Hecto Innovation Co., Ltd.

Equities

A214180

KR7214180002

Internet Services

End-of-day quote Korea S.E. Other stock markets 03:30:00 10/05/2024 am IST			5-day change	1st Jan Change
13,680 ^KRW	-0.44%		+3.25%	-6.75%

02/01	Tranche Update on Hecto Innovation Co., Ltd.'s Equity Buyback Plan announced on June 28, 2023.	CI
2023	Hecto Innovation Co., Ltd.'s Equity Buyback announced on June 28, 2023, has expired with 371,429 shares, representing 2.93% for KRW 5,000.61 million.	CI

Valuation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,16,440	2,62,898	1,57,819	1,83,353	1,69,296	-	-
Enterprise Value (EV) ²	216.4	18.32	-14.33	183.4	-84.2	-117.7	-155.2
P/E ratio	10.8 x	11.7 x	5 x	7.68 x	6.77 x	6.25 x	5.5 x
Yield	-	1.94%	3.49%	-	2.63%	4.82%	5.7%
Capitalization / Revenue	-	1.19 x	0.6 x	0.64 x	0.54 x	0.47 x	0.42 x
EV / Revenue	-	0.08 x	-0.05 x	0.64 x	-0.27 x	-0.33 x	-0.39 x
EV / EBITDA	-	0.37 x	-0.4 x	3.41 x	-1.55 x	-2.06 x	-2.44 x
EV / FCF	-	0.22 x	-0.63 x	-	-5.69 x	-3.07 x	-3.67 x
FCF Yield	-	447%	-159%	-	-17.6%	-32.5%	-27.3%
Price to Book	-	1.96 x	1.14 x	-	1.09 x	0.95 x	0.83 x
Nbr of stocks (in thousands)	12,160	13,080	13,097	12,498	12,375	-	-
Reference price ³	17,800	20,100	12,050	14,670	13,680	13,680	13,680
Announcement Date	23/03/21	22/02/22	15/03/23	20/03/24	-	-	-

¹KRW in Million²KRW in Billions³KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	221	263	288.5	316.1	357.8	398.9
EBITDA ¹	-	49.53	35.75	53.73	54.5	57.1	63.5
EBIT ¹	-	37.48	35.74	37.26	42.1	47.7	54.5
Operating Margin	-	16.95%	13.59%	12.92%	13.32%	13.33%	13.66%
Earnings before Tax (EBT) ¹	-	41.98	37.83	40.45	44.9	49.8	56.4
Net income ¹	20.33	21.09	29.45	22.56	26.8	29	33
Net margin	-	9.54%	11.2%	7.82%	8.48%	8.11%	8.27%
EPS ²	1,648	1,721	2,409	1,910	2,020	2,189	2,486
Free Cash Flow ³	-	81,895	22,762	-	14,800	38,300	42,300
FCF margin	-	37,049.57%	8,655.71%	-	4,682.06%	10,704.3%	10,604.16%
FCF Conversion (EBITDA)	-	1,65,331.56%	63,666.96%	-	27,155.96%	67,075.31%	66,614.17%
FCF Conversion (Net income)	-	3,88,256.97%	77,290.59%	-	55,223.88%	1,32,068.97%	1,28,181.82%
Dividend per Share ²	-	390.0	420.0	-	360.0	660.0	780.0
Announcement Date	23/03/21	22/02/22	15/03/23	20/03/24	-	-	-

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
Net sales ¹	58.96	59.52	61.7	65.74	66.72	68.82	69.62	71.79	73.83	73.24	73.82	77.6	82	82.7
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	11.55	7.282	6.212	6.204	12.04	11.28	10.16	9.516	10.33	7.257	9.837	10.4	12.6	9.3
Operating Margin	19.59%	12.23%	10.07%	9.44%	18.05%	16.39%	14.6%	13.25%	13.99%	9.91%	13.33%	13.4%	15.37%	11.25%
Earnings before Tax (EBT) ¹	13.38	8.734	7.277	5.879	12.74	11.93	11.21	10.58	11.47	7.185	10.62	11	13.4	9.8
Net income ¹	6.726	5.738	6.561	6.605	7.555	8.728	4.696	6.392	6.144	5.33	6.135	6.5	8.3	6.1
Net margin	11.41%	9.64%	10.63%	10.05%	11.32%	12.68%	6.74%	8.9%	8.32%	7.28%	8.31%	8.38%	10.12%	7.38%
EPS	-	507.0	-	539.0	-	-	386.0	-	-	-	-	1,973	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	15/11/21	22/02/22	13/05/22	12/08/22	14/11/22	15/03/23	09/05/23	09/08/23	08/11/23	20/03/24	08/05/24	-	-	-

¹KRW in Billions

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-
Net Cash position ¹	-	245	172	-	254	287	325
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ²	-	81,895	22,762	-	14,800	38,300	42,300
ROE (net income / shareholders' equity)	-	12.6%	21.3%	-	16%	16.2%	16.1%
ROA (Net income/ Total Assets)	-	7.96%	-	-	-	-	-
Assets ¹	-	265	-	-	-	-	-
Book Value Per Share ³	-	10,272	10,564	-	12,597	14,426	16,552
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	-	1.53	3.28	-	4	4.4	-
Capex / Sales	-	0.69%	1.25%	-	1.27%	1.23%	-
Announcement Date	23/03/21	22/02/22	15/03/23	20/03/24	-	-	-

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 Hecto Innovation Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

13,680 KRW

Average target price

19,000 KRW

Spread / Average Target

+38.89%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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