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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | 13.7x - 15.2x | 14.5x |
Selected Fwd EBIT Multiple | 8.0x - 8.8x | 8.4x |
Fair Value | ₩25,753 - ₩28,292 | ₩27,022 |
Upside | 1.0% - 10.9% | 6.0% |
Benchmarks | Ticker | Full Ticker |
InkTec Co., Ltd. | A049550 | KOSDAQ:A049550 |
KOYJ Co., Ltd. | A121850 | KOSDAQ:A121850 |
Bolak Company Limited | A002760 | KOSE:A002760 |
HANJOO ART Co.,LTD. | A058450 | KOSDAQ:A058450 |
Sunjin Beauty Science Co.Ltd | A086710 | KOSDAQ:A086710 |
LK CHEM Co., Ltd. | A489500 | KOSDAQ:A489500 |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
A049550 | A121850 | A002760 | A058450 | A086710 | A489500 | ||
KOSDAQ:A049550 | KOSDAQ:A121850 | KOSE:A002760 | KOSDAQ:A058450 | KOSDAQ:A086710 | KOSDAQ:A489500 | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | NM- | NM- | NM- | 18.0% | NM- | |
3Y CAGR | -25.5% | NM- | NM- | NM- | 42.2% | NM- | |
Latest Twelve Months | -29.7% | 22.6% | -454.4% | -177.0% | 17.6% | 80.7% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 6.5% | -33.8% | 2.8% | -197.5% | 9.7% | 37.8% | |
Prior Fiscal Year | 6.1% | -25.0% | 1.1% | -28.4% | 12.5% | 36.8% | |
Latest Fiscal Year | 3.6% | -15.3% | -3.8% | -58.0% | 13.4% | 40.5% | |
Latest Twelve Months | 3.6% | -15.3% | -3.8% | -58.0% | 13.4% | 40.5% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 1.71x | 2.07x | 1.33x | 1.32x | 2.87x | 5.99x | |
EV / LTM EBITDA | 21.9x | -22.3x | -2418.5x | -2.8x | 13.7x | 13.3x | |
EV / LTM EBIT | 46.9x | -13.5x | -35.3x | -2.3x | 21.4x | 14.8x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | -35.3x | -2.3x | 46.9x | ||||
Historical EV / LTM EBIT | 14.8x | 14.8x | 14.8x | ||||
Selected EV / LTM EBIT | 13.7x | 14.5x | 15.2x | ||||
(x) LTM EBIT | 10,136 | 10,136 | 10,136 | ||||
(=) Implied Enterprise Value | 139,242 | 146,570 | 153,899 | ||||
(-) Non-shareholder Claims * | 10,219 | 10,219 | 10,219 | ||||
(=) Equity Value | 149,460 | 156,789 | 164,117 | ||||
(/) Shares Outstanding | 6.3 | 6.3 | 6.3 | ||||
Implied Value Range | 23,806.78 | 24,974.10 | 26,141.42 | ||||
FX Rate: KRW/KRW | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 23,806.78 | 24,974.10 | 26,141.42 | 25,500.00 | |||
Upside / (Downside) | -6.6% | -2.1% | 2.5% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | A049550 | A121850 | A002760 | A058450 | A086710 | A489500 | |
Enterprise Value | 125,837 | 42,733 | 63,209 | 18,802 | 228,131 | 149,872 | |
(+) Cash & Short Term Investments | 2,909 | 6,401 | 3,627 | 4,108 | 11,081 | 14,398 | |
(+) Investments & Other | 328 | 95 | 3,707 | 447 | 2,950 | 54 | |
(-) Debt | (57,217) | (9,964) | (2,077) | (9,061) | (56,282) | (4,201) | |
(-) Other Liabilities | 0 | 0 | 0 | 0 | (3,923) | (32) | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 71,857 | 39,265 | 68,466 | 14,297 | 181,955 | 160,090 | |
(/) Shares Outstanding | 19.6 | 30.4 | 59.9 | 14.7 | 12.0 | 6.3 | |
Implied Stock Price | 3,665.00 | 1,293.00 | 1,143.00 | 970.00 | 15,150.00 | 25,500.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 3,665.00 | 1,293.00 | 1,143.00 | 970.00 | 15,150.00 | 25,500.00 | |
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 |