Financials Samsung Electronics Co., Ltd. Korea S.E.

Equities

A005935

KR7005931001

Phones & Handheld Devices

End-of-day quote Korea S.E. Other stock markets 03:30:00 08/05/2024 am IST			5-day change	1st Jan Change
66,700 ^KRW	-0.30%		+2.30%	+7.06%

02:54pm	Samsung Medison buys AI software firm Sonio SAS for $92 million	RE
10:29am	Samsung Electronics Affiliate Samsung Medison Takes Over French AI Medtech Startup Sonio	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	37,04,72,922	54,41,16,848	52,60,23,507	37,16,84,753	51,98,93,772	54,02,29,864	-	-
Enterprise Value (EV) ²	2,76,732	4,39,607	4,20,214	2,66,795	4,40,204	4,50,437	4,32,699	4,07,380
P/E ratio	17.6 x	21.1 x	13.6 x	6.86 x	36.8 x	15.7 x	11.8 x	11.5 x
Yield	2.54%	1.75%	1.84%	2.61%	1.84%	1.78%	1.78%	1.8%
Capitalization / Revenue	1.61 x	2.3 x	1.88 x	1.23 x	2.01 x	1.74 x	1.55 x	1.47 x
EV / Revenue	1.2 x	1.86 x	1.5 x	0.88 x	1.7 x	1.45 x	1.25 x	1.11 x
EV / EBITDA	5.09 x	6.97 x	5.07 x	3.36 x	10.5 x	5.54 x	4.24 x	3.87 x
EV / FCF	13.8 x	15.9 x	23.4 x	20.8 x	-32.7 x	25.3 x	15.7 x	9.54 x
FCF Yield	7.23%	6.3%	4.28%	4.8%	-3.06%	3.95%	6.36%	10.5%
Price to Book	1.31 x	2.06 x	1.58 x	0.96 x	1.33 x	1.46 x	1.32 x	1.23 x
Nbr of stocks (in thousands)	67,92,669	67,92,669	67,92,669	67,92,669	67,92,669	67,92,669	-	-
Reference price ³	55,800	81,000	78,300	55,300	78,500	81,300	81,300	81,300
Announcement Date	30/01/20	28/01/21	26/01/22	30/01/23	30/01/24	-	-	-

¹KRW in Million²KRW in Billions³KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,30,400	2,36,810	2,79,605	3,02,230	2,58,936	3,10,474	3,47,503	3,66,545
EBITDA ¹	54,340	63,110	82,920	79,330	42,100	81,366	1,02,003	1,05,401
EBIT ¹	27,770	35,990	51,634	43,380	6,540	41,225	57,735	59,227
Operating Margin	12.05%	15.2%	18.47%	14.35%	2.53%	13.28%	16.61%	16.16%
Earnings before Tax (EBT) ¹	30,430	36,350	53,352	46,440	11,006	45,272	61,377	62,987
Net income ¹	21,510	26,090	39,244	54,730	14,473	34,384	45,124	45,321
Net margin	9.34%	11.02%	14.04%	18.11%	5.59%	11.07%	12.99%	12.36%
EPS ²	3,166	3,841	5,777	8,057	2,131	5,166	6,914	7,084
Free Cash Flow ³	2,00,10,000	2,77,00,000	1,79,90,000	1,28,00,000	-1,34,80,000	1,78,11,643	2,75,28,193	4,26,80,800
FCF margin	8,684.9%	11,697.14%	6,434.08%	4,235.19%	-5,205.93%	5,736.93%	7,921.72%	11,644.08%
FCF Conversion (EBITDA)	36,823.7%	43,891.62%	21,695.61%	16,135.13%	-	21,890.81%	26,987.72%	40,493.8%
FCF Conversion (Net income)	93,026.5%	1,06,170.95%	45,841.64%	23,387.54%	-	51,801.5%	61,006.18%	94,174.28%
Dividend per Share ²	1,416	1,416	1,444	1,444	1,444	1,444	1,444	1,461
Announcement Date	30/01/20	28/01/21	26/01/22	30/01/23	30/01/24	-	-	-

¹KRW in Billions²KRW³KRW in Million

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 S1	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	73,000	76,566	77,782	77,000	76,780	70,460	63,750	60,000	1,23,751	67,000	67,780	71,916	73,001	82,350	83,612	84,861
EBITDA ¹	23,880	22,730	23,130	23,170	19,880	13,150	9,440	9,440	-	11,300	11,880	15,840	17,966	22,274	23,910	24,683
EBIT ¹	15,800	13,867	14,121	14,000	10,850	4,310	640	600	-	2,400	2,800	6,600	8,295	12,275	13,370	14,312
Operating Margin	21.64%	18.11%	18.16%	18.18%	14.13%	6.12%	1%	1%	-	3.58%	4.13%	9.18%	11.36%	14.91%	15.99%	16.87%
Earnings before Tax (EBT) ¹	16,356	14,363	15,070	14,460	11,860	5,050	1,826	1,713	-	3,943	3,524	7,707	9,691	13,852	15,051	15,922
Net income ¹	12,057	10,643	11,129	10,950	9,140	23,500	1,401	1,547	-	5,501	6,024	6,621	7,101	10,067	10,871	11,549
Net margin	16.52%	13.9%	14.31%	14.22%	11.9%	33.35%	2.2%	2.58%	-	8.21%	8.89%	9.21%	9.73%	12.22%	13%	13.61%
EPS ²	1,776	1,566	1,638	1,613	1,346	3,460	206.0	228.0	434.0	810.0	887.0	975.0	1,140	1,568	1,759	1,792
Dividend per Share ²	-	-	-	361.0	361.0	361.0	361.0	361.0	-	361.0	361.0	361.0	361.0	361.0	361.0	361.0
Announcement Date	07/10/21	26/01/22	27/04/22	06/07/22	27/10/22	30/01/23	26/04/23	06/07/23	06/07/23	10/10/23	30/01/24	29/04/24	-	-	-	-

¹KRW in Billions²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	93,741	1,04,510	1,05,810	1,04,890	79,690	89,792	1,07,531	1,32,850
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ²	2,00,10,000	2,77,00,000	1,79,90,000	1,28,00,000	-1,34,80,000	1,78,11,643	2,75,28,193	4,26,80,800
ROE (net income / shareholders' equity)	8.69%	10%	14%	17%	4%	9.29%	11.4%	10.6%
ROA (Net income/ Total Assets)	6.22%	7.14%	9.75%	12.5%	3.2%	7.5%	9.18%	8.63%
Assets ¹	3,45,959	3,65,401	4,02,429	4,37,525	4,52,265	4,58,293	4,91,291	5,25,079
Book Value Per Share ³	42,701	39,406	49,629	57,822	59,170	55,634	61,454	66,259
Cash Flow per Share ³	6,680	9,612	9,586	10,416	6,499	11,365	13,485	13,995
Capex ¹	25,370	37,590	47,120	49,430	57,610	53,265	55,148	58,229
Capex / Sales	11.01%	15.87%	16.85%	16.36%	22.25%	17.16%	15.87%	15.89%
Announcement Date	30/01/20	28/01/21	26/01/22	30/01/23	30/01/24	-	-	-

¹KRW in Billions²KRW in Million³KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Samsung Electronics Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

81,300 KRW

Average target price

1,03,324 KRW

Spread / Average Target

+27.09%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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