Company Valuation: NEXON Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 19,94,121 25,58,406 21,87,677 19,66,510 30,36,219 17,89,280 - -
Change - 28.3% -14.49% -10.11% 54.4% -41.07% - -
Enterprise Value (EV) 1 14,45,380 19,86,794 17,16,105 14,05,643 25,89,496 10,12,459 9,95,064 9,50,383
Change - 37.46% -13.62% -18.09% 84.22% -60.9% -1.72% -4.49%
P/E 17.3x 25.8x 31x 14.7x 33.4x 16.1x 15.2x 14.1x
PBR 2.37x 2.97x 2.41x 1.92x 2.86x 1.62x 1.56x 1.5x
PEG - -2.3x -1.1x 0.2x -1.1x 0.7x 2.37x 1.92x
Capitalization / Revenue 7.27x 7.23x 5.17x 4.41x 6.39x 3.52x 3.4x 3.29x
EV / Revenue 5.27x 5.62x 4.05x 3.15x 5.45x 1.99x 1.89x 1.75x
EV / EBITDA 14.5x 18x 12x 10.5x 19.1x 6.9x 6.42x 5.66x
EV / EBIT 15.8x 19.2x 12.7x 11.3x 20.9x 7.43x 6.78x 6.16x
EV / FCF 13.9x 17.4x 13.7x 18.3x 19x 8.99x 8.59x 7.61x
FCF Yield 7.22% 5.74% 7.3% 5.45% 5.27% 11.1% 11.6% 13.1%
Dividend per Share 2 7.5 10 10 22.5 45 60.09 61.94 62.94
Rate of return 0.34% 0.34% 0.39% 0.95% 1.18% 2.63% 2.71% 2.76%
EPS 2 128.9 114.7 82.89 161.8 114.5 141.4 150.4 161.5
Distribution rate 5.82% 8.72% 12.1% 13.9% 39.3% 42.5% 41.2% 39%
Net sales 1 2,74,462 3,53,714 4,23,356 4,46,211 4,75,102 5,08,794 5,25,540 5,43,584
EBITDA 1 1,00,009 1,10,463 1,43,343 1,34,318 1,35,421 1,46,799 1,55,000 1,67,834
EBIT 1 91,541 1,03,696 1,34,745 1,24,176 1,24,012 1,36,194 1,46,704 1,54,290
Net income 1 1,14,888 1,00,339 70,609 1,34,848 92,052 1,11,493 1,18,120 1,25,042
Net Debt 1 -5,48,741 -5,71,612 -4,71,572 -5,60,867 -4,46,723 -7,76,820 -7,94,216 -8,38,897
Reference price 2 2,224.00 2,962.00 2,569.50 2,376.50 3,827.00 2,282.00 2,282.00 2,282.00
Nbr of stocks (in thousands) 8,96,637 8,63,743 8,51,402 8,27,482 7,93,368 7,84,084 - -
Announcement Date 08/02/22 09/02/23 08/02/24 13/02/25 12/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.05x1.97x6.83x2.65% 1.1TCr
14.77x3.41x8.86x2.39% 8.69TCr
10.55x1.82x5.25x0.95% 692.69Cr
13.12x2.24x10.32x6.2% 605.95Cr
25.39x2.19x10.94x1.79% 577.48Cr
13.23x3.14x7.85x5.76% 373.8Cr
11.29x1.25x5.7x0.52% 320.47Cr
15.04x4.9x11.98x3.51% 329.33Cr
12.78x2.05x8.74x7.81% 321.84Cr
10.35x2x6.12x0.87% 274.36Cr
Average 14.26x 2.50x 8.26x 3.24% 1.33TCr
Weighted average by Cap. 14.78x 3.01x 8.57x 2.66%

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

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