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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | 7.4x - 8.1x | 7.7x |
Selected Fwd EBIT Multiple | 9.3x - 10.3x | 9.8x |
Fair Value | ₩2,580 - ₩2,817 | ₩2,698 |
Upside | 49.2% - 62.9% | 56.1% |
Benchmarks | Ticker | Full Ticker |
EASY BIO,Inc. | A353810 | KOSDAQ:A353810 |
Woosung Co., Ltd. | A006980 | KOSE:A006980 |
Sempio Company | A007540 | KOSE:A007540 |
Pulmuone Corporate | A017810 | KOSE:A017810 |
TS Corporation | A001790 | KOSE:A001790 |
Daejoo Inc. | A003310 | KOSDAQ:A003310 |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
A353810 | A006980 | A007540 | A017810 | A001790 | A003310 | ||
KOSDAQ:A353810 | KOSE:A006980 | KOSE:A007540 | KOSE:A017810 | KOSE:A001790 | KOSDAQ:A003310 | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | NM- | -27.6% | 24.6% | 4.6% | 30.0% | |
3Y CAGR | 24.5% | 111.1% | -35.5% | 33.6% | -4.2% | 55.8% | |
Latest Twelve Months | 58.9% | 6.3% | -55.9% | 33.7% | -5.9% | 48.8% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 10.8% | 0.6% | 5.2% | 1.8% | 3.3% | 6.0% | |
Prior Fiscal Year | 12.5% | 0.9% | 2.1% | 2.1% | 3.5% | 7.3% | |
Latest Fiscal Year | 8.4% | 1.4% | 1.5% | 2.9% | 2.7% | 9.5% | |
Latest Twelve Months | 8.0% | 1.6% | 0.9% | 2.7% | 2.9% | 10.4% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.67x | 0.14x | 0.49x | 0.57x | 0.26x | 0.47x | |
EV / LTM EBITDA | 6.8x | 3.9x | 6.7x | 7.4x | 6.7x | 3.6x | |
EV / LTM EBIT | 8.5x | 9.2x | 55.2x | 21.2x | 8.9x | 4.5x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | 8.5x | 9.2x | 55.2x | ||||
Historical EV / LTM EBIT | 4.2x | 17.4x | 25.5x | ||||
Selected EV / LTM EBIT | 7.4x | 7.7x | 8.1x | ||||
(x) LTM EBIT | 10,994 | 10,994 | 10,994 | ||||
(=) Implied Enterprise Value | 80,817 | 85,071 | 89,324 | ||||
(-) Non-shareholder Claims * | 11,707 | 11,707 | 11,707 | ||||
(=) Equity Value | 92,524 | 96,777 | 101,031 | ||||
(/) Shares Outstanding | 35.4 | 35.4 | 35.4 | ||||
Implied Value Range | 2,614.23 | 2,734.41 | 2,854.59 | ||||
FX Rate: KRW/KRW | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 2,614.23 | 2,734.41 | 2,854.59 | 1,729.00 | |||
Upside / (Downside) | 51.2% | 58.1% | 65.1% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | A353810 | A006980 | A007540 | A017810 | A001790 | A003310 | |
Enterprise Value | 298,049 | 86,123 | 199,717 | 1,839,429 | 352,266 | 49,487 | |
(+) Cash & Short Term Investments | 37,550 | 33,069 | 91,487 | 233,326 | 286,612 | 15,897 | |
(+) Investments & Other | 7,877 | 54,132 | 16,444 | 16,684 | 35,489 | 4,455 | |
(-) Debt | (155,512) | (131,075) | (77,203) | (1,233,966) | (411,375) | (8,645) | |
(-) Other Liabilities | (5,021) | 0 | (135,919) | (278,388) | (1,024) | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | (2,017) | (3,241) | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 182,943 | 42,249 | 94,525 | 575,068 | 258,726 | 61,193 | |
(/) Shares Outstanding | 33.1 | 2.6 | 2.0 | 36.9 | 86.2 | 35.4 | |
Implied Stock Price | 5,530.00 | 16,460.00 | 46,900.00 | 15,600.00 | 3,000.00 | 1,729.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 5,530.00 | 16,460.00 | 46,900.00 | 15,600.00 | 3,000.00 | 1,729.00 | |
Trading Currency | KRW | KRW | KRW | KRW | KRW | KRW | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |