Financials NEXON Co., Ltd.

Equities

3659

JP3758190007

Internet Services

Market Closed - Japan Exchange Other stock markets 11:30:00 13/09/2024 am IST			5-day change	1st Jan Change
2,670.00 ^JPY	-3.10%		-2.20%	+3.91%

04/09	Nexon Targets 750 Billion Yen in Sales by 2027	MT
19/08	Jefferies Adjusts Nexon's Price Target to 4,870 Yen From 4,340 Yen, Keeps at Buy	MT

Projected Income Statement: NEXON Co., Ltd.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,48,542	2,93,024	2,74,462	3,53,714	4,23,356	5,02,370	5,37,046	5,55,199
Change	-	17.9%	-6.33%	28.88%	19.69%	18.66%	6.9%	3.38%
EBITDA ¹	1,02,219	1,20,024	1,00,009	1,10,463	1,43,343	1,68,857	1,82,420	1,87,279
Change	-	17.42%	-16.68%	10.45%	29.77%	17.8%	8.03%	2.66%
EBIT ¹	94,525	1,11,450	91,541	1,03,696	1,34,745	1,64,281	1,82,405	1,92,064
Change	-	17.91%	-17.86%	13.28%	29.94%	21.92%	11.03%	5.3%
Interest Paid ¹	-2,272	-19,049	-1,355	-12,892	-7,279	-7,452	-7,546	-7,499
Earnings before Tax (EBT) ¹	1,21,968	1,08,171	1,35,472	1,40,525	1,25,929	2,03,568	2,08,616	2,05,719
Change	-	-11.31%	25.24%	3.73%	-10.39%	61.65%	2.48%	-1.39%
Net income ¹	1,15,664	56,220	1,14,888	1,00,339	70,609	1,36,791	1,40,555	1,37,133
Change	-	-51.39%	104.35%	-12.66%	-29.63%	93.73%	2.75%	-2.43%
Announcement Date	13/02/20	09/02/21	08/02/22	09/02/23	08/02/24	-	-	-

¹JPY in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	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	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	52,357	49,243	82,762	64,466	79,412	66,384	88,313	56,009	75,890	54,250	91,034	84,122	97,463	81,095	1,24,087	94,436	1,20,256	84,577	1,08,418	1,22,474	1,49,709	1,20,643	1,41,440	1,18,761	1,49,885	1,17,314
Change	-	-5.95%	68.07%	-22.11%	23.18%	-16.41%	33.03%	-36.58%	35.5%	-28.51%	67.8%	-7.59%	15.86%	-16.79%	53.01%	-23.9%	27.34%	-29.67%	28.19%	12.96%	22.24%	-19.41%	17.24%	-16.03%	26.21%	-21.73%
EBITDA ¹	26,165	7,015	-	28,978	29,764	-	-	-	-	-	40,299	24,335	33,246	12,583	-	30,158	48,272	6,125	-	47,698	60,200	26,000	-	-	-	-
Change	-	-73.19%	-100%	-	2.71%	-100%	-	-	-	-	-	-39.61%	36.62%	-62.15%	-100%	-	60.06%	-87.31%	-100%	-	26.21%	-56.81%	-100%	-	-	-
EBIT ¹	24,419	4,518	41,543	26,711	27,607	15,589	43,321	15,409	29,835	2,976	38,520	22,684	31,524	10,968	56,275	27,614	46,310	3,797	29,146	45,224	57,938	27,892	55,940	32,361	61,385	23,914
Change	-	-81.5%	819.5%	-35.7%	3.35%	-43.53%	177.89%	-64.43%	93.62%	-90.03%	1,194.35%	-41.11%	38.97%	-65.21%	413.08%	-50.93%	67.7%	-91.8%	667.61%	55.16%	28.11%	-51.86%	100.56%	-42.15%	89.69%	-61.04%
Charge d'intérêts ¹	-699	-849	-1,585	-6,891	-244	-	-650	-1,264	-206	-680	-3,695	-	-641	-4,380	-422	-322	-5,299	-1,236	-518	-608	-2,600	-3,200	-	-	-	-
Earnings before Tax (EBT) ¹	42,620	-4,547	61,989	24,678	22,901	-1,397	63,575	13,895	48,358	9,644	57,201	41,698	57,966	-16,340	71,903	42,827	52,859	-41,660	54,239	61,434	62,415	27,068	-	-	-	-
Change	-	-	-	-60.19%	-7.2%	-	-	-78.14%	248.02%	-80.06%	493.13%	-27.1%	39.01%	-	-	-40.44%	23.42%	-	-	13.27%	1.6%	-56.63%	-100%	-	-	-
Net income ¹	39,844	3,275	49,911	19,763	16,330	-29,784	46,034	8,957	37,902	21,995	40,261	24,707	43,303	-7,932	52,791	24,538	35,167	-41,870	35,918	39,878	42,323	14,341	-	-	-	-
Change	-	-91.78%	1,424%	-60.4%	-17.37%	-	-	-80.54%	323.16%	-41.97%	83.05%	-38.63%	75.27%	-	-	-53.52%	43.32%	-	-	11.03%	6.13%	-66.12%	-100%	-	-	-
Announcement Date	07/11/19	13/02/20	13/05/20	06/08/20	10/11/20	09/02/21	12/05/21	11/08/21	09/11/21	08/02/22	12/05/22	09/08/22	09/11/22	09/02/23	11/05/23	09/08/23	09/11/23	08/02/24	14/05/24	08/08/24	-	-	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: December	2020 S1	2021 S1	2022 S1	2023 S1	2024 S1
Net sales ¹	1,47,228	1,44,322	1,75,156	2,18,523	2,30,892
Change	-	-1.97%	21.36%	24.76%	5.66%
EBITDA	-	-	-	-	-
Change	-	-	-	-	-
EBIT ¹	68,254	58,730	61,204	83,889	74,370
Change	-	-13.95%	4.21%	37.06%	-11.35%
Charge d'intérêts ¹	-493	-469	-7,871	-744	-1,126
Earnings before Tax (EBT) ¹	86,667	77,470	98,899	1,14,730	1,15,673
Change	-	-10.61%	27.66%	16.01%	0.82%
Net income ¹	69,674	54,991	64,968	77,329	75,796
Change	-	-21.07%	18.14%	19.03%	-1.98%
Announcement Date	06/08/20	11/08/21	09/08/22	09/08/23	08/08/24

¹JPY in Million

Estimates

Forecast Balance Sheet: NEXON Co., Ltd.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-2,40,777	-5,36,452	-5,48,741	-5,71,612	-4,71,572	-6,56,125	-7,87,552	-9,08,054
Change	-	-322.8%	-202.29%	-204.17%	-182.5%	-239.14%	-220.03%	-215.3%
Announcement Date	13/02/20	09/02/21	08/02/22	09/02/23	08/02/24	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: NEXON Co., Ltd.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	2,160	10,520	5,185	16,128	5,713	3,788	3,822	4,088
Change	-	387.04%	-50.71%	211.05%	-64.58%	-33.69%	0.88%	6.98%
Free Cash Flow (FCF) ¹	1,02,913	1,27,083	1,04,329	1,14,016	1,25,305	1,30,571	1,47,235	1,61,244
Change	-	23.49%	-17.9%	9.29%	9.9%	4.2%	12.76%	9.51%
Announcement Date	13/02/20	09/02/21	08/02/22	09/02/23	08/02/24	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: NEXON Co., Ltd.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	41.13%	40.96%	36.44%	31.23%	33.86%	33.61%	33.97%	33.73%
EBIT Margin (%)	38.03%	38.03%	33.35%	29.32%	31.83%	32.7%	33.96%	34.59%
EBT Margin (%)	49.07%	36.92%	49.36%	39.73%	29.75%	40.52%	38.85%	37.05%
Net margin (%)	46.54%	19.19%	41.86%	28.37%	16.68%	27.23%	26.17%	24.7%
FCF margin (%)	41.41%	43.37%	38.01%	32.23%	29.6%	25.99%	27.42%	29.04%
FCF / Net Income (%)	88.98%	226.05%	90.81%	113.63%	177.46%	95.45%	104.75%	117.58%
Profitability
ROA	17.82%	13.68%	14.66%	13.85%	11.76%	11.79%	10.93%	10.44%
ROE	19.7%	8.5%	14.9%	11.8%	8%	14.07%	12.88%	12.46%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	0.87%	3.59%	1.89%	4.56%	1.35%	0.75%	0.71%	0.74%
CAPEX / EBITDA (%)	2.11%	8.76%	5.18%	14.6%	3.99%	2.24%	2.09%	2.18%
CAPEX / FCF (%)	2.1%	8.28%	4.97%	14.15%	4.56%	2.9%	2.6%	2.54%
Items per share
Cash flow per share ¹	137.9	73.27	138.4	122.5	92.98	149	152.8	159.2
Change	-	-46.88%	88.9%	-11.52%	-24.08%	60.29%	2.53%	4.15%
Dividend per Share ¹	2.5	5	7.5	10	10	13.9	14.78	15.06
Change	-	100%	50%	33.33%	0%	38.98%	6.37%	1.9%
Book Value Per Share ¹	702.6	800.4	939.2	997	1,065	1,218	1,359	1,517
Change	-	13.91%	17.35%	6.15%	6.82%	14.38%	11.58%	11.58%
EPS ¹	129.3	63.57	128.9	114.7	82.89	163.9	170	182.2
Change	-	-50.85%	102.78%	-10.99%	-27.76%	97.79%	3.68%	7.2%
Nbr of stocks (in thousands)	8,87,763	8,86,599	8,96,637	8,63,743	8,51,402	8,29,210	8,29,210	8,29,210
Announcement Date	13/02/20	09/02/21	08/02/22	09/02/23	08/02/24	-	-	-