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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | -16.2x - -17.9x | -17.1x |
Selected Fwd EBIT Multiple | -78.8x - -87.0x | -82.9x |
Fair Value | ₩4,431 - ₩5,693 | ₩5,062 |
Upside | -44.3% - -28.4% | -36.3% |
Benchmarks | Ticker | Full Ticker |
Dong-A ST Co., Ltd. | A170900 | KOSE:A170900 |
Huons Global Co., Ltd. | A084110 | KOSDAQ:A084110 |
Kyung Dong Pharmaceutical Co., Ltd. | A011040 | KOSDAQ:A011040 |
Dongwha Pharm.Co.,Ltd | A000020 | KOSE:A000020 |
JW Lifescience Corporation | A234080 | KOSE:A234080 |
Jeil Pharma Holdings Inc | A002620 | KOSE:A002620 |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
A170900 | A084110 | A011040 | A000020 | A234080 | A002620 | ||
KOSE:A170900 | KOSDAQ:A084110 | KOSDAQ:A011040 | KOSE:A000020 | KOSE:A234080 | KOSE:A002620 | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | 6.0% | -36.1% | 7.1% | 3.8% | NM- | |
3Y CAGR | NM- | 8.5% | -45.0% | -15.8% | 8.1% | NM- | |
Latest Twelve Months | -323.7% | -16.0% | 110.5% | -28.2% | 16.2% | -153.4% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 2.4% | 14.5% | 3.1% | 6.9% | 16.7% | 0.4% | |
Prior Fiscal Year | 1.7% | 15.3% | -15.3% | 5.2% | 14.9% | 2.6% | |
Latest Fiscal Year | -3.6% | 12.0% | 1.4% | 2.9% | 16.1% | -1.4% | |
Latest Twelve Months | -3.6% | 12.0% | 1.4% | 2.9% | 16.1% | -1.4% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.84x | 1.23x | 0.49x | 0.41x | 1.07x | 0.31x | |
EV / LTM EBITDA | 140.9x | 7.2x | 11.8x | 5.8x | 4.6x | 81.6x | |
EV / LTM EBIT | -23.3x | 10.2x | 36.1x | 14.2x | 6.7x | -21.3x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | -23.3x | 10.2x | 36.1x | ||||
Historical EV / LTM EBIT | -26.8x | 21.1x | 95.7x | ||||
Selected EV / LTM EBIT | -16.2x | -17.1x | -17.9x | ||||
(x) LTM EBIT | (11,181) | (11,181) | (11,181) | ||||
(=) Implied Enterprise Value | 181,119 | 190,651 | 200,184 | ||||
(-) Non-shareholder Claims * | (116,020) | (116,020) | (116,020) | ||||
(=) Equity Value | 65,099 | 74,631 | 84,164 | ||||
(/) Shares Outstanding | 15.4 | 15.4 | 15.4 | ||||
Implied Value Range | 4,240.64 | 4,861.61 | 5,482.58 | ||||
FX Rate: KRW/KRW | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 4,240.64 | 4,861.61 | 5,482.58 | 7,950.00 | |||
Upside / (Downside) | -46.7% | -38.8% | -31.0% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | A170900 | A084110 | A011040 | A000020 | A234080 | A002620 | |
Enterprise Value | 582,882 | 997,527 | 94,747 | 190,800 | 237,904 | 238,062 | |
(+) Cash & Short Term Investments | 301,078 | 278,678 | 30,913 | 43,497 | 9,622 | 75,883 | |
(+) Investments & Other | 82,549 | 101,796 | 69,556 | 65,942 | 559 | 93,756 | |
(-) Debt | (495,663) | (297,387) | (38,677) | (96,989) | (69,238) | (155,212) | |
(-) Other Liabilities | (38,522) | (444,056) | (276) | (28,304) | 0 | (130,447) | |
(-) Preferred Stock | 0 | (6,850) | 0 | (1,154) | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 432,325 | 629,707 | 156,262 | 173,791 | 178,847 | 122,041 | |
(/) Shares Outstanding | 9.2 | 12.2 | 26.9 | 27.7 | 15.5 | 15.4 | |
Implied Stock Price | 47,200.00 | 51,700.00 | 5,800.00 | 6,270.00 | 11,550.00 | 7,950.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 47,200.00 | 51,700.00 | 5,800.00 | 6,270.00 | 11,550.00 | 7,950.00 | |
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 |