Financials Samsung Electronics Co., Ltd.

Equities

A005930

KR7005930003

Phones & Handheld Devices

End-of-day quote Korea S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
76,700 ^KRW	+0.52%		-1.16%	-2.29%

Apr. 26	EMA SAYS CHMP ADOPTED POSITIVE OPINIONS FOR TOFIDENCE (TOCILIZUM…	RE
Apr. 26	South Korea shares gain following upbeat US tech earnings	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	370,472,922	544,116,848	526,023,507	371,684,753	519,893,772	510,793,936	-	-
Enterprise Value (EV) ²	276,732	439,607	420,214	266,795	440,204	423,264	405,198	382,073
P/E ratio	17.6 x	21.1 x	13.6 x	6.86 x	36.8 x	16 x	11.8 x	10.7 x
Yield	2.54%	1.75%	1.84%	2.61%	1.84%	1.9%	1.88%	1.97%
Capitalization / Revenue	1.61 x	2.3 x	1.88 x	1.23 x	2.01 x	1.67 x	1.5 x	1.41 x
EV / Revenue	1.2 x	1.86 x	1.5 x	0.88 x	1.7 x	1.39 x	1.19 x	1.05 x
EV / EBITDA	5.09 x	6.97 x	5.07 x	3.36 x	10.5 x	5.2 x	4.04 x	3.61 x
EV / FCF	13.8 x	15.9 x	23.4 x	20.8 x	-32.7 x	17.7 x	13.3 x	9.22 x
FCF Yield	7.23%	6.3%	4.28%	4.8%	-3.06%	5.64%	7.54%	10.8%
Price to Book	1.31 x	2.06 x	1.58 x	0.96 x	1.33 x	1.37 x	1.26 x	1.17 x
Nbr of stocks (in thousands)	6,792,669	6,792,669	6,792,669	6,792,669	6,792,669	6,792,669	-	-
Reference price ³	55,800	81,000	78,300	55,300	78,500	76,700	76,700	76,700
Announcement Date	1/30/20	1/28/21	1/26/22	1/30/23	1/30/24	-	-	-

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	230,400	236,810	279,605	302,230	258,936	305,282	340,217	363,072
EBITDA ¹	54,340	63,110	82,920	79,330	42,100	81,319	100,226	105,853
EBIT ¹	27,770	35,990	51,634	43,380	6,540	39,242	55,117	60,991
Operating Margin	12.05%	15.2%	18.47%	14.35%	2.53%	12.85%	16.2%	16.8%
Earnings before Tax (EBT) ¹	30,430	36,350	53,352	46,440	11,006	43,017	58,526	64,229
Net income ¹	21,510	26,090	39,244	54,730	14,473	30,771	42,506	45,862
Net margin	9.34%	11.02%	14.04%	18.11%	5.59%	10.08%	12.49%	12.63%
EPS ²	3,166	3,841	5,777	8,057	2,131	4,804	6,482	7,202
Free Cash Flow ³	20,010,000	27,700,000	17,990,000	12,800,000	-13,480,000	23,870,870	30,539,307	41,420,000
FCF margin	8,684.9%	11,697.14%	6,434.08%	4,235.19%	-5,205.93%	7,819.28%	8,976.43%	11,408.21%
FCF Conversion (EBITDA)	36,823.7%	43,891.62%	21,695.61%	16,135.13%	-	29,354.45%	30,470.35%	39,129.6%
FCF Conversion (Net income)	93,026.5%	106,170.95%	45,841.64%	23,387.54%	-	77,574.67%	71,847.68%	90,313.92%
Dividend per Share ²	1,416	1,416	1,444	1,444	1,444	1,459	1,444	1,512
Announcement Date	1/30/20	1/28/21	1/26/22	1/30/23	1/30/24	-	-	-

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	123,751	67,000	67,780	71,000	71,678	80,586	81,247	80,808
EBITDA ¹	23,880	22,730	23,130	23,170	19,880	13,150	9,440	9,440	-	11,300	11,880	16,155	17,369	21,995	23,889	24,041
EBIT ¹	15,800	13,867	14,121	14,000	10,850	4,310	640	600	-	2,400	2,800	6,600	7,799	11,674	12,543	12,858
Operating Margin	21.64%	18.11%	18.16%	18.18%	14.13%	6.12%	1%	1%	-	3.58%	4.13%	9.3%	10.88%	14.49%	15.44%	15.91%
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	6,992	8,784	13,401	13,882	14,215
Net income ¹	12,057	10,643	11,129	10,950	9,140	23,500	1,401	1,547	-	5,501	6,024	4,992	6,043	8,884	9,615	10,170
Net margin	16.52%	13.9%	14.31%	14.22%	11.9%	33.35%	2.2%	2.58%	-	8.21%	8.89%	6.92%	8.43%	11.02%	11.83%	12.59%
EPS ²	1,776	1,566	1,638	1,613	1,346	3,460	206.0	228.0	434.0	810.0	887.0	781.7	874.0	1,466	1,490	1,612
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	10/7/21	1/26/22	4/27/22	7/6/22	10/27/22	1/30/23	4/26/23	7/6/23	7/6/23	10/10/23	1/30/24	4/4/24	-	-	-	-

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	104,510	105,810	104,890	79,690	87,530	105,596	128,721
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ²	20,010,000	27,700,000	17,990,000	12,800,000	-13,480,000	23,870,870	30,539,307	41,420,000
ROE (net income / shareholders' equity)	8.69%	10%	14%	17%	4%	8.66%	11.1%	11.2%
ROA (Net income/ Total Assets)	6.22%	7.14%	9.75%	12.5%	3.2%	6.8%	8.97%	8.92%
Assets ¹	345,959	365,401	402,429	437,525	452,265	452,796	473,843	514,045
Book Value Per Share ³	42,701	39,406	49,629	57,822	59,170	55,797	61,030	65,759
Cash Flow per Share ³	6,680	9,612	9,586	10,416	6,499	11,710	13,420	11,955
Capex ¹	25,370	37,590	47,120	49,430	57,610	54,036	55,053	58,471
Capex / Sales	11.01%	15.87%	16.85%	16.36%	22.25%	17.7%	16.18%	16.1%
Announcement Date	1/30/20	1/28/21	1/26/22	1/30/23	1/30/24	-	-	-

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

76,700 KRW

Average target price

101,992 KRW

Spread / Average Target

+32.98%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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