KB Metal Co Ltd

Prix Action

1.842,00 KRW

Juste Valeur

2.985,42 KRW

Metrics	Range	Conclusion
Selected LTM Revenue Multiple	0,2x - 0,2x	0,2x
Selected Fwd Revenue Multiple	0,2x - 0,2x	0,2x
Fair Value	2.749₩ - 3.222₩	2.985₩
Upside	46,2% - 71,3%	58,7%

Benchmarks	Ticker	Full Ticker
TPC Co., Ltd.	A130740	KOSDAQ:A130740
HanJung Natural Connectivity System.co.,Ltd	A107640	KOSDAQ:A107640
Mobile Appliance, Inc.	A087260	KOSDAQ:A087260
NEOOTO CO., Ltd	A212560	KOSDAQ:A212560
Samkee EV Corp.	A419050	KOSDAQ:A419050
Kbi Metal Co., Ltd.	A024840	KOSDAQ:A024840

Multiples Valuation: EV / Revenue

Prix Action

1.842,00 KRW

Juste Valeur

2.985,42 KRW

Potentiel haussier

58,7%

LTM Revenue Multiple

Proj Revenue Multiple

Fair Value

Benchmark Editor


Select LTM Revenue Multiple

	Benchmark Companies
	A130740	A107640	A087260	A212560	A419050	A024840
	KOSDAQ:A130740	KOSDAQ:A107640	KOSDAQ:A087260	KOSDAQ:A212560	KOSDAQ:A419050	KOSDAQ:A024840
Historical Revenue Growth
5Y CAGR	-1.0%	NM-	-2.0%	13.0%	NM-	7.3%
3Y CAGR	0.0%	NM-	-5.4%	15.4%	NM-	1.0%
Latest Twelve Months	1.2%	45.8%	-18.7%	10.3%	8.6%	2.6%

Historical EBIT Profit Margin
5 Year Average Margin	-0.9%	-2.9%	1.5%	4.2%	-0.9%	1.8%
Prior Fiscal Year	-3.5%	-10.4%	0.9%	5.2%	0.8%	1.1%
Latest Fiscal Year	-1.1%	5.4%	2.3%	5.8%	-6.3%	2.5%
Latest Twelve Months	-1.1%	5.4%	2.3%	5.8%	-6.3%	2.5%

Current Trading Multiples
EV / LTM Revenue	0.38x	1.16x	0.64x	0.09x	2.46x	0.18x
EV / LTM EBIT	-34.3x	21.5x	27.6x	1.6x	-38.8x	7.3x
Price / LTM Sales	0.25x	1.08x	1.54x	0.30x	0.92x	0.10x


	Low	Mid	High

Benchmark EV / LTM Revenue	0.09x	0.64x	2.46x
Historical EV / LTM Revenue	0.12x	0.18x	0.27x

Selected EV / LTM Revenue	0.23x	0.24x	0.25x
(x) LTM Revenue	702,692	702,692	702,692
(=) Implied Enterprise Value	158,172	166,497	174,822
(-) Non-shareholder Claims *	(60,644)	(60,644)	(60,644)
(=) Equity Value	97,528	105,853	114,178
(/) Shares Outstanding	34.8	34.8	34.8
Implied Value Range	2,799.47	3,038.42	3,277.38
FX Rate: KRW/KRW	1.0	1.0	1.0		Market Price
Implied Value Range (Trading Cur)	2,799.47	3,038.42	3,277.38		1,881.00
Upside / (Downside)	48.8%	61.5%	74.2%

Calculs d'appui

Equity Waterfall

Financials

Historical Multiples


Equity Waterfall

	Benchmark Companies
(in millions)	A130740	A107640	A087260	A212560	A419050	A024840

Enterprise Value	32,116	208,956	25,878	17,585	250,922	126,174
(+) Cash & Short Term Investments	25,630	41,380	38,393	76,527	23,568	37,335
(+) Investments & Other	150	591	11,976	2	2	4,524
(-) Debt	(8,759)	(57,645)	(13,973)	(30,957)	(145,537)	(96,144)
(-) Other Liabilities	(27,564)	1,915	0	0	(30,406)	(6,359)
(-) Preferred Stock	0	0	0	0	0	0
(-) Other	0	0	0	0	0	0
Value of Common Equity	21,572	195,199	62,274	63,157	98,549	65,530
(/) Shares Outstanding	11.3	9.1	32.6	7.9	57.2	34.8
Implied Stock Price	1,913.00	21,550.00	1,913.00	8,020.00	1,723.00	1,881.00
FX Conversion Rate to Trading Currency	1.00	1.00	1.00	1.00	1.00	1.00
Implied Stock Price (Trading Cur)	1,913.00	21,550.00	1,913.00	8,020.00	1,723.00	1,881.00

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

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