IBKimyoung Co Ltd

KOSDAQ:A339950

南韓 / 非必需消費品 / 多元化消費服務

綜觀

股息

10 年 DCF 收入退出價

股價

2,360.00 KRW

公允價值

4,672.22 KRW

Metrics	Range	Conclusion
Discount Rate	8.8% - 7.8%	8.3%
Terminal Revenue Multiple	1.2x - 1.3x	1.3x
Fair Value	₩4,457 - ₩4,902	₩4,672
Upside	88.8% - 107.7%	98.0%

2.5%

Revenue 10y CAGR

23.2%

10y Avg EBITDA Margin

2.2%

Unlevered FCF 10y CAGR

10-Year DCF Model: Revenue Exit

股價

2,360.00 KRW

公允價值

4,672.22 KRW

看漲

98.0%

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	107,069	111,900	116,700	119,034	121,415	123,843	126,320	128,846	131,423	134,052	136,733
% Growth	13.1%	4.5%	4.3%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%

EBITDA	28,706	23,700	27,300	27,846	28,403	28,971	29,550	30,141	30,744	31,359	31,986
% of Revenue	26.8%	21.2%	23.4%	23.4%	23.4%	23.4%	23.4%	23.4%	23.4%	23.4%	23.4%

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		23,700	27,300	27,846	28,403	28,971	29,550	30,141	30,744	31,359	31,986
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0
D&A		(5,900)	(7,900)	(8,058)	(8,219)	(8,384)	(8,551)	(8,722)	(8,897)	(9,075)	(9,256)

EBIT		17,800	19,400	19,788	20,184	20,587	20,999	21,419	21,848	22,285	22,730
Pro forma Taxes		(5,518)	(6,014)	(6,134)	(6,257)	(6,382)	(6,510)	(6,640)	(6,773)	(6,908)	(7,046)
NOPAT	11,378	12,282	13,386	13,654	13,927	14,205	14,489	14,779	15,075	15,376	15,684

Capital Expenditures	(13,717)	(7,100)	(7,300)	(9,372)	(9,560)	(9,751)	(9,561)	(9,624)	(9,645)	(9,610)	(9,627)
NWC Investment	3,028	1,183	1,175	571	583	594	606	618	631	643	656
(+) D&A	12,216	5,900	7,900	8,058	8,219	8,384	8,551	8,722	8,897	9,075	9,256

Free Cash Flow	12,905	12,265	15,161	12,911	13,169	13,432	14,086	14,496	14,957	15,484	15,970
% Growth			24%	-15%	2%	2%	5%	3%	3%	4%	3%

載入錯誤

IBKimyoung Co Ltd

KOSDAQ:A339950

南韓 / 非必需消費品 / 多元化消費服務

10 年 DCF 收入退出價