Unick Corp

KOSDAQ:A011320

南韓 / 非必需消費品 / 汽車零件

綜觀

股息

10 年 DCF 收入退出價

股價

3,600.00 KRW

公允價值

6,446.00 KRW

Metrics	Range	Conclusion
Discount Rate	12.0% - 11.0%	11.5%
Terminal Revenue Multiple	0.5x - 0.6x	0.6x
Fair Value	₩5,932 - ₩6,994	₩6,446
Upside	66.6% - 96.4%	81.1%

2.7%

Revenue 10y CAGR

7.3%

10y Avg EBITDA Margin

27.6%

Unlevered FCF 10y CAGR

10-Year DCF Model: Revenue Exit

股價

3,600.00 KRW

公允價值

6,446.00 KRW

看漲

81.1%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(KRW in millions)		Input Projections
Fiscal Years Ending	Dec-24	Dec-25	Dec-26	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Dec-32	Dec-33	Dec-34

Revenue	374,800	402,910	417,011	425,352	433,859	442,536	451,387	460,414	469,623	479,015	488,595
% Growth	13.9%	7.5%	3.5%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%

EBITDA	22,604	29,368	30,396	31,004	31,624	32,257	32,902	33,560	34,231	34,916	35,614
% of Revenue	6.0%	7.3%	7.3%	7.3%	7.3%	7.3%	7.3%	7.3%	7.3%	7.3%	7.3%

支援算式

Calculation of Free Cash Flow

Discounting Periods

Discounting Factors

Calculation of Enterprise Value

Equity Waterfall

Historical Financials

Current Trading Multiples


Calculation of Free Cash Flow

Projected Unlevered Cash Flow
		Dec-25	Dec-26	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Dec-32	Dec-33	Dec-34

EBITDA		29,368	30,396	31,004	31,624	32,257	32,902	33,560	34,231	34,916	35,614
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0
D&A		(15,715)	(16,265)	(16,590)	(16,922)	(17,260)	(17,606)	(17,958)	(18,317)	(18,683)	(19,057)

EBIT		13,654	14,132	14,414	14,702	14,997	15,296	15,602	15,914	16,233	16,557
Pro forma Taxes		(1,502)	(1,554)	(1,586)	(1,617)	(1,650)	(1,683)	(1,716)	(1,751)	(1,786)	(1,821)
NOPAT	7,571	12,152	12,577	12,829	13,085	13,347	13,614	13,886	14,164	14,447	14,736

Capital Expenditures	(13,630)	(15,828)	(16,382)	(16,710)	(17,044)	(17,385)	(17,046)	(17,159)	(17,197)	(17,134)	(17,163)
NWC Investment	(6,706)	(4,111)	(2,063)	(1,220)	(1,244)	(1,269)	(1,295)	(1,320)	(1,347)	(1,374)	(1,401)
(+) D&A	14,097	15,715	16,265	16,590	16,922	17,260	17,606	17,958	18,317	18,683	19,057

Free Cash Flow	1,332	7,927	10,397	11,489	11,719	11,953	12,878	13,365	13,937	14,623	15,229
% Growth			31%	11%	2%	2%	8%	4%	4%	5%	4%

載入錯誤

Unick Corp

KOSDAQ:A011320

南韓 / 非必需消費品 / 汽車零件

10 年 DCF 收入退出價