Financials PHA Co., Ltd.

Equities

A043370

KR7043370006

Auto, Truck & Motorcycle Parts

End-of-day quote Korea S.E. Other stock markets 03:30:00 09/05/2024 am IST			5-day change	1st Jan Change
10,970 ^KRW	-0.63%		-0.45%	+10.25%

19/03	Tranche Update on PHA Co., Ltd.'s Equity Buyback Plan announced on December 18, 2023.	CI
14/03	Tranche Update on PHA Co., Ltd.'s Equity Buyback Plan announced on September 13, 2023.	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Capitalization ¹	1,40,062	1,81,220	1,88,320	2,07,419	1,44,577	2,02,898
Enterprise Value (EV) ¹	80,926	1,55,175	1,40,151	96,983	-6,517	27,085
P/E ratio	3.12 x	5.73 x	24 x	5.52 x	5.12 x	3.3 x
Yield	2.4%	2.09%	1.96%	1.78%	2.84%	2.51%
Capitalization / Revenue	0.13 x	0.17 x	0.2 x	0.22 x	0.14 x	0.18 x
EV / Revenue	0.08 x	0.14 x	0.15 x	0.1 x	-0.01 x	0.02 x
EV / EBITDA	1.12 x	2.38 x	2.13 x	1.8 x	-0.1 x	0.31 x
EV / FCF	11.9 x	-6.22 x	17.4 x	3.08 x	-0.14 x	3.12 x
FCF Yield	8.41%	-16.1%	5.76%	32.5%	-699%	32.1%
Price to Book	0.26 x	0.31 x	0.32 x	0.32 x	0.21 x	0.28 x
Nbr of stocks (in thousands)	20,999	20,999	20,537	20,537	20,537	20,392
Reference price ²	6,670	8,630	9,170	10,100	7,040	9,950
Announcement Date	19/03/19	16/03/20	16/03/21	15/03/22	15/03/23	20/03/24

¹KRW in Million²KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	10,66,543	10,88,426	9,49,060	9,27,614	10,24,435	11,34,618
EBITDA ¹	72,017	65,153	65,790	53,864	63,415	86,209
EBIT ¹	19,332	15,580	14,306	6,584	22,872	48,293
Operating Margin	1.81%	1.43%	1.51%	0.71%	2.23%	4.26%
Earnings before Tax (EBT) ¹	71,182	31,197	13,901	48,889	40,441	69,323
Net income ¹	44,832	31,622	7,926	37,580	28,261	61,505
Net margin	4.2%	2.91%	0.84%	4.05%	2.76%	5.42%
EPS ²	2,135	1,506	381.7	1,830	1,376	3,011
Free Cash Flow ¹	6,808	-24,936	8,066	31,503	45,543	8,690
FCF margin	0.64%	-2.29%	0.85%	3.4%	4.45%	0.77%
FCF Conversion (EBITDA)	9.45%	-	12.26%	58.49%	71.82%	10.08%
FCF Conversion (Net income)	15.19%	-	101.76%	83.83%	161.15%	14.13%
Dividend per Share ²	160.0	180.0	180.0	180.0	200.0	250.0
Announcement Date	19/03/19	16/03/20	16/03/21	15/03/22	15/03/23	20/03/24

¹KRW in Million²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	-	-	-	-	-	-
Net Cash position ¹	59,137	26,045	48,169	1,10,437	1,51,094	1,75,813
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow ¹	6,808	-24,936	8,066	31,503	45,543	8,690
ROE (net income / shareholders' equity)	8.54%	5.65%	1.36%	6.1%	4.29%	8.82%
ROA (Net income/ Total Assets)	1.34%	1.07%	0.96%	0.44%	1.48%	3.07%
Assets ¹	33,47,441	29,69,207	8,21,951	86,35,145	19,14,721	20,02,326
Book Value Per Share ²	25,863	27,454	28,525	31,445	32,776	36,108
Cash Flow per Share ²	7,774	5,377	8,954	10,711	6,342	8,831
Capex ¹	49,604	77,497	36,480	20,703	15,626	64,798
Capex / Sales	4.65%	7.12%	3.84%	2.23%	1.53%	5.71%
Announcement Date	19/03/19	16/03/20	16/03/21	15/03/22	15/03/23	20/03/24

¹KRW in Million²KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Chiffre d''affaires - Rate of surprise

Company calendar

Sector Automotive Accessories

	1st Jan change	Capi.
PHA CO., LTD.	+10.25%	157M
GENTEX CORPORATION	+6.83%	8.07B
CHANGZHOU XINGYU AUTOMOTIVE LIGHTING SYSTEMS CO.,LTD.	+4.88%	5.44B
THULE GROUP AB	+17.01%	3.11B
TOYOTA BOSHOKU CORPORATION	+1.90%	2.67B
ADIENT PLC	-20.52%	2.6B
NINGBO JIFENG AUTO PARTS CO., LTD.	+0.59%	2.37B
PHINIA INC.	+41.76%	1.96B
KUNSHAN HUGUANG AUTO HARNESS CO.,LTD.	+49.45%	1.8B
NINGBO HUAXIANG ELECTRONIC CO., LTD.	+11.84%	1.62B

Automotive Accessories

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A043370 Stock
Financials PHA Co., Ltd.

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