Company Valuation: KT Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 71,71,900 86,54,243 85,88,458 1,07,79,460 1,26,81,600 1,25,70,133 - -
Change - 20.67% -0.76% 25.51% 17.65% -0.88% - -
Enterprise Value (EV) 1 12,590 16,212 15,927 17,571 19,960 19,956 19,288 18,682
Change - 28.77% -1.76% 10.32% 13.6% -0.02% -3.35% -3.14%
P/E 5.32x 6.49x 8.52x 23x 7.39x 8.93x 8.16x 7.6x
PBR 0.48x 0.52x 0.53x 0.68x 0.72x 0.7x 0.67x 0.64x
PEG - -0.69x -0.4x -0.4x 0x -0.5x 0.86x 1.03x
Capitalization / Revenue 0.29x 0.34x 0.33x 0.41x 0.45x 0.46x 0.45x 0.44x
EV / Revenue 0.51x 0.63x 0.6x 0.66x 0.71x 0.72x 0.68x 0.65x
EV / EBITDA 2.38x 3.03x 2.92x 3.75x 3.14x 3.36x 3.2x 3.05x
EV / EBIT 7.53x 9.59x 9.65x 21.7x 8.08x 9.21x 8.45x 7.7x
EV / FCF 6.09x 103x 8.8x 9.04x 9.97x 8.26x 7.04x 7.23x
FCF Yield 16.4% 0.97% 11.4% 11.1% 10% 12.1% 14.2% 13.8%
Dividend per Share 3 1,910 1,960 1,960 2,000 2,400 2,476 2,610 2,690
Rate of return 6.24% 5.8% 5.7% 4.56% 4.56% 4.66% 4.92% 5.07%
EPS 3 5,747 5,205 4,038 1,906 7,114 5,947 6,508 6,988
Distribution rate 33.2% 37.7% 48.5% 105% 33.7% 41.6% 40.1% 38.5%
Net sales 1 24,898 25,650 26,387 26,431 28,244 27,564 28,179 28,783
EBITDA 1 5,280 5,346 5,460 4,687 6,349 5,946 6,031 6,129
EBIT 1 1,672 1,690 1,650 809.5 2,469 2,168 2,283 2,427
Net income 1 1,357 1,262 1,010 470.3 1,731 1,478 1,577 1,691
Net Debt 1 5,418 7,558 7,339 6,791 7,279 7,386 6,718 6,112
Reference price 3 30,600.00 33,800.00 34,400.00 43,850.00 52,600.00 53,100.00 53,100.00 53,100.00
Nbr of stocks (in thousands) 2,34,376 2,56,043 2,49,664 2,45,826 2,41,095 2,36,726 - -
Announcement Date 09/02/22 09/02/23 07/02/24 13/02/25 10/02/26 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.04x1.31x4.14x7.03% 22TCr
10.53x2.52x6.65x5.92% 20TCr
13.27x2.13x5.49x4.13% 15TCr
13.93x1.87x8.15x3.01% 9.17TCr
11.57x0.87x3.24x6.68% 7.92TCr
11.49x1.77x4.48x2.85% 6.75TCr
15.28x2.68x8.37x5.06% 5.8TCr
23.32x5.29x19.31x4.69% 5.54TCr
14.08x2.76x6.18x4.4% 5.1TCr
Average 13.84x 2.35x 7.33x 4.86% 10.82TCr
Weighted average by Cap. 12.74x 2.11x 6.41x 5.27%

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

-40%: Exceptional extension
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