Financials NH Investment & Securities Co., Ltd.

Equities

A005940

KR7005940002

Investment Banking & Brokerage 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
12,700 ^KRW	+2.17%		+2.42%	+22.94%

30/04	SungEel HiTech Co., Ltd. announced that it has received KRW 50 billion in funding from KB Securities Co.,Ltd, NH Investment & Securities Co., Ltd., Korea Investment & Securities Co., Ltd., Samsung Securities Co.,Ltd.	CI
30/04	I-SENS, Inc. announced that it has received KRW 50 billion in funding from NH Investment & Securities Co., Ltd., Atinum Investment Co., Ltd	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	37,28,498	33,34,530	39,24,224	30,67,647	36,03,605	43,64,655	-	-
Enterprise Value (EV) ¹	37,28,498	33,34,530	39,24,224	30,67,647	36,03,605	43,64,655	43,64,655	43,64,655
P/E ratio	8.01 x	5.88 x	4.07 x	9.95 x	6.51 x	6.17 x	6.42 x	5.88 x
Yield	3.94%	6.19%	8.4%	7.98%	7.74%	6.57%	6.62%	7.23%
Capitalization / Revenue	2.69 x	1.98 x	1.68 x	2.25 x	2.15 x	2.28 x	2.27 x	2.16 x
EV / Revenue	2.69 x	1.98 x	1.68 x	2.25 x	2.15 x	2.28 x	2.27 x	2.16 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.66 x	0.58 x	0.54 x	0.4 x	0.45 x	0.54 x	0.52 x	0.49 x
Nbr of stocks (in thousands)	2,99,333	2,99,333	3,15,221	3,49,853	3,49,853	3,45,680	-	-
Reference price ²	12,700	11,300	12,500	8,770	10,330	12,700	12,700	12,700
Announcement Date	30/01/20	28/01/21	21/01/22	01/02/23	26/01/24	-	-	-

¹KRW in Million²KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,387	1,681	2,341	1,366	1,678	1,915	1,919	2,024
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	575.4	787.3	1,317	521.4	749.2	888.7	898.9	962.7
Operating Margin	41.48%	46.84%	56.25%	38.15%	44.64%	46.4%	46.85%	47.57%
Earnings before Tax (EBT) ¹	633.2	789.1	1,325	440.2	744.3	901	896.7	989
Net income ¹	475.5	576.9	947.9	303.4	573.9	668	652.3	725.5
Net margin	34.28%	34.32%	40.5%	22.21%	34.19%	34.88%	33.99%	35.85%
EPS ²	1,585	1,923	3,071	881.0	1,588	2,059	1,977	2,160
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	500.0	700.0	1,050	700.0	800.0	834.4	841.0	918.8
Announcement Date	30/01/20	28/01/21	21/01/22	01/02/23	26/01/24	-	-	-

¹KRW in Billions²KRW

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
Net sales ¹	532.4	497.9	384.2	368.5	265.7	347.9	484.8	468	347.7	377.9	436	453
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	292.7	233.8	161.8	154.2	68.5	136.9	251.5	220.4	118.4	135.4	276.9	199
Operating Margin	54.98%	46.97%	42.1%	41.83%	25.78%	39.36%	51.87%	47.1%	34.06%	35.83%	44.34%	43.93%
Earnings before Tax (EBT) ¹	288.9	274.1	142.8	155.4	37.87	104.1	242.6	225.6	124	128.5	291.3	231
Net income ¹	214.6	189	102.4	119.7	12.05	69.27	184.1	182.7	100.8	88.87	225.5	170
Net margin	40.31%	37.96%	26.65%	32.48%	4.54%	19.91%	37.97%	39.03%	29%	23.52%	34.85%	37.53%
EPS	-	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	22/10/21	21/01/22	21/04/22	25/07/22	27/10/22	01/02/23	27/04/23	27/07/23	26/10/23	26/01/24	25/04/24	-

¹KRW in Billions

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	9.12%	10.3%	15%	4.31%	7.72%	8.7%	8.19%	8.32%
ROA (Net income/ Total Assets)	0.92%	1.02%	1.54%	0.49%	1.01%	1.14%	1.1%	1.14%
Assets ¹	51,655	56,621	61,708	61,872	56,784	58,725	59,407	63,501
Book Value Per Share ²	19,183	19,352	23,007	21,824	22,950	23,360	24,590	26,024
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	30/01/20	28/01/21	21/01/22	01/02/23	26/01/24	-	-	-

¹KRW in Billions²KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for NH Investment & Securities Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

12,700 KRW

Average target price

14,045 KRW

Spread / Average Target

+10.59%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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NOMURA HOLDINGS, INC.	+39.14%	16.96B

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