Financials Samsung SDI Co., Ltd. BOERSE MUENCHEN

Equities

XSDG

US7960542030

Electrical Components & Equipment

Real-time BOERSE MUENCHEN Other stock markets 09:14:14 04/07/2024 pm IST			5-day change	1st Jan Change
62.6 ^EUR	+4.33%		-2.91%	-25.93%

03:02am	South Korean shares hit 29-month high as auto, financial stocks jump	RE
03/07	S.Korean shares rise as government proposes tax cuts for higher dividends	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,55,75,086	4,15,31,058	4,33,57,491	3,90,69,726	3,12,38,558	2,48,28,597	-	-
Enterprise Value (EV) ²	17,840	43,730	45,485	41,069	34,830	30,445	31,547	31,002
P/E ratio	43.9 x	73.1 x	37.4 x	20.2 x	15.7 x	14.9 x	10.6 x	8.73 x
Yield	0.42%	0.16%	0.15%	0.17%	0.21%	0.27%	0.27%	0.29%
Capitalization / Revenue	1.54 x	3.68 x	3.2 x	1.94 x	1.38 x	1.08 x	0.9 x	0.77 x
EV / Revenue	1.77 x	3.87 x	3.36 x	2.04 x	1.53 x	1.33 x	1.14 x	0.96 x
EV / EBITDA	13.5 x	24.9 x	19.6 x	12.6 x	10.4 x	8.18 x	6.11 x	4.82 x
EV / FCF	-18.3 x	198 x	-578 x	-245 x	-17.9 x	-13.7 x	-24.7 x	30.8 x
FCF Yield	-5.47%	0.5%	-0.17%	-0.41%	-5.58%	-7.31%	-4.04%	3.25%
Price to Book	1.25 x	3.17 x	0.29 x	2.35 x	1.71 x	1.25 x	1.11 x	0.98 x
Nbr of stocks (in thousands)	66,873	66,873	66,873	66,873	66,873	66,873	-	-
Reference price ³	2,36,000	6,28,000	6,55,000	5,91,000	4,72,000	3,74,500	3,74,500	3,74,500
Announcement Date	30/01/20	28/01/21	27/01/22	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	10,097	11,295	13,553	20,124	22,708	22,974	27,627	32,259
EBITDA ¹	1,318	1,755	2,320	3,271	3,361	3,721	5,162	6,426
EBIT ¹	462.2	671	1,068	1,808	1,633	1,647	2,661	3,583
Operating Margin	4.58%	5.94%	7.88%	8.98%	7.19%	7.17%	9.63%	11.11%
Earnings before Tax (EBT) ¹	564.6	803	1,663	2,652	2,486	2,173	3,169	4,011
Net income ¹	356.5	575	1,170	1,952	2,009	1,705	2,380	2,903
Net margin	3.53%	5.09%	8.63%	9.7%	8.85%	7.42%	8.61%	9%
EPS ²	5,381	8,593	17,492	29,191	30,044	25,115	35,234	42,892
Free Cash Flow ³	-9,75,231	2,20,550	-78,691	-1,67,802	-19,44,725	-22,26,334	-12,75,435	10,07,210
FCF margin	-9,658.21%	1,952.64%	-580.61%	-833.84%	-8,563.94%	-9,690.65%	-4,616.69%	3,122.3%
FCF Conversion (EBITDA)	-	12,566.98%	-	-	-	-	-	15,673.8%
FCF Conversion (Net income)	-	38,356.6%	-	-	-	-	-	34,692.89%
Dividend per Share ²	1,000	1,000	1,000	1,030	1,000	1,010	1,020	1,069
Announcement Date	30/01/20	28/01/21	27/01/22	30/01/23	30/01/24	-	-	-

¹KRW in Billions²KRW³KRW in Million

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	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
Net sales ¹	3,816	4,049	4,741	5,368	5,966	5,355	5,841	5,948	5,565	5,131	5,316	5,882	6,394	5,971	6,332
EBITDA ¹	599	672.8	784.6	942.6	871.3	792.8	879.5	918.3	770.7	664.2	770	883.8	1,106	749.8	839
EBIT ¹	265.7	322.3	429	565.9	490.8	375.4	450.2	496	311.8	267.4	378.3	477.6	524.5	463.4	621.8
Operating Margin	6.96%	7.96%	9.05%	10.54%	8.23%	7.01%	7.71%	8.34%	5.6%	5.21%	7.12%	8.12%	8.2%	7.76%	9.82%
Earnings before Tax (EBT) ¹	511.3	453.9	528.8	866.4	803.2	561.3	583.2	760.4	581.2	293.3	503	653.3	724.2	458	532.9
Net income ¹	365.5	356.6	391.3	602.9	601.3	439.3	460.5	613.2	496.2	273.1	377.3	468.1	550.9	318.7	380.8
Net margin	9.58%	8.81%	8.25%	11.23%	10.08%	8.2%	7.88%	10.31%	8.92%	5.32%	7.1%	7.96%	8.62%	5.34%	6.01%
EPS ²	5,465	5,332	5,852	9,016	8,991	6,569	6,886	9,170	7,419	4,084	4,914	7,050	7,808	4,542	5,386
Dividend per Share ²	1,000	-	-	-	1,030	-	-	-	1,000	-	-	-	1,017	-	-
Announcement Date	27/01/22	27/04/22	29/07/22	25/10/22	30/01/23	27/04/23	26/07/23	26/10/23	30/01/24	30/04/24	-	-	-	-	-

¹KRW in Billions²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	2,265	2,199	2,128	1,999	3,591	5,616	6,718	6,174
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.718 x	1.253 x	0.9172 x	0.6112 x	1.068 x	1.509 x	1.302 x	0.9607 x
Free Cash Flow ²	-9,75,231	2,20,550	-78,691	-1,67,802	-19,44,725	-22,26,334	-12,75,435	10,07,210
ROE (net income / shareholders' equity)	3.23%	4.85%	8.76%	12.6%	11.5%	8.59%	10.7%	11.6%
ROA (Net income/ Total Assets)	2.05%	2.78%	4.94%	6.96%	6.25%	4.82%	6.34%	7%
Assets ¹	17,369	20,693	23,680	28,045	32,147	35,387	37,530	41,473
Book Value Per Share ³	1,88,359	1,98,334	22,47,220	2,51,948	2,76,815	2,99,457	3,36,371	3,83,893
Cash Flow per Share ³	14,107	29,783	33,256	39,494	31,456	53,873	68,356	77,618
Capex ¹	1,898	1,572	1,698	2,809	4,048	5,407	5,404	5,308
Capex / Sales	18.8%	13.92%	12.53%	13.96%	17.83%	23.54%	19.56%	16.46%
Announcement Date	30/01/20	28/01/21	27/01/22	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 SDI Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,74,500 KRW

Average target price

5,75,117 KRW

Spread / Average Target

+53.57%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Batteries & Uninterruptable Power Supplies

	1st Jan change	Capi.
CATL (CONTEMPORARY AMPEREX TECHNOLOGY)	+10.01%	11TCr
LG ENERGY SOLUTION, LTD.	-16.02%	6.05TCr
TDK CORPORATION	+61.38%	2.48TCr
ECOPRO BM. CO., LTD.	-34.38%	1.35TCr
EVE ENERGY CO., LTD.	-10.43%	1.07TCr
VOLTRONIC POWER TECHNOLOGY CORP.	+7.02%	476.52Cr
GOTION HIGH-TECH CO.,LTD.	-14.84%	458.84Cr
ENERSYS	+1.37%	410.87Cr
AMARA RAJA ENERGY & MOBILITY LIMITED	+106.84%	373.11Cr

Batteries & Uninterruptable Power Supplies