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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBITDA Multiple | -15,9x - -17,5x | -16,7x |
Selected Fwd EBITDA Multiple | 12,1x - 13,4x | 12,8x |
Fair Value | 12.272₩ - 15.635₩ | 13.953₩ |
Upside | -45,3% - -30,4% | -37,8% |
Benchmarks | Ticker | Full Ticker |
Sangsin Energy Display Precision Co.,Ltd. | A091580 | KOSDAQ:A091580 |
SDN Company., Ltd. | A099220 | KOSDAQ:A099220 |
LS materials.,Ltd. | A417200 | KOSDAQ:A417200 |
Iljin Electric Co.,Ltd | A103590 | KOSE:A103590 |
Vitzro Tech Co. Ltd | A042370 | KOSDAQ:A042370 |
SK IE Technology Co., Ltd. | A361610 | KOSE:A361610 |
- | - | - |
Select LTM EBITDA Multiple | |||||||
Benchmark Companies | |||||||
A091580 | A099220 | A417200 | A103590 | A042370 | A361610 | ||
KOSDAQ:A091580 | KOSDAQ:A099220 | KOSDAQ:A417200 | KOSE:A103590 | KOSDAQ:A042370 | KOSE:A361610 | ||
Historical EBITDA Growth | |||||||
5Y CAGR | -14.8% | NM- | NM- | 25.9% | 5.8% | NM- | |
3Y CAGR | -34.1% | NM- | 39.7% | 35.5% | 18.9% | NM- | |
Latest Twelve Months | -80.5% | 30.5% | -34.1% | 26.2% | 54.5% | -165.6% | |
Historical EBITDA Profit Margin | |||||||
5 Year Average Margin | 14.8% | 2.1% | 11.9% | 4.7% | 14.8% | 20.3% | |
Prior Fiscal Year | 14.5% | -6.4% | 14.0% | 5.9% | 13.3% | 31.6% | |
Latest Fiscal Year | 3.4% | -4.0% | 8.9% | 5.8% | 16.9% | -61.8% | |
Latest Twelve Months | 3.4% | -4.0% | 8.9% | 5.8% | 16.9% | -61.8% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.65x | 1.31x | 5.07x | 0.70x | 0.56x | 13.77x | |
EV / LTM EBITDA | 19.3x | -32.8x | 57.3x | 12.1x | 3.3x | -22.3x | |
EV / LTM EBIT | -20.1x | -13.2x | 116.2x | 14.1x | 4.7x | -10.3x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBITDA | -32.8x | 12.1x | 57.3x | ||||
Historical EV / LTM EBITDA | -22.3x | 43.1x | 51.5x | ||||
Selected EV / LTM EBITDA | -15.9x | -16.7x | -17.5x | ||||
(x) LTM EBITDA | (134,552) | (134,552) | (134,552) | ||||
(=) Implied Enterprise Value | 2,133,313 | 2,245,592 | 2,357,872 | ||||
(-) Non-shareholder Claims * | (1,402,838) | (1,402,838) | (1,402,838) | ||||
(=) Equity Value | 730,474 | 842,754 | 955,033 | ||||
(/) Shares Outstanding | 71.3 | 71.3 | 71.3 | ||||
Implied Value Range | 10,245.43 | 11,820.23 | 13,395.03 | ||||
FX Rate: KRW/KRW | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 10,245.43 | 11,820.23 | 13,395.03 | 22,450.00 | |||
Upside / (Downside) | -54.4% | -47.3% | -40.3% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | A091580 | A099220 | A417200 | A103590 | A042370 | A361610 | |
Enterprise Value | 163,825 | 111,415 | 719,872 | 1,116,298 | 242,103 | 3,003,469 | |
(+) Cash & Short Term Investments | 64,153 | 7,702 | 50,258 | 140,734 | 161,123 | 304,251 | |
(+) Investments & Other | 1,574 | 33,856 | 519 | 9,227 | 13,317 | 4,271 | |
(-) Debt | (127,857) | (68,986) | (23,507) | (143,459) | (28,515) | (1,711,360) | |
(-) Other Liabilities | 0 | 954 | (22,583) | 0 | (188,383) | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 101,694 | 84,941 | 724,560 | 1,122,800 | 199,644 | 1,600,631 | |
(/) Shares Outstanding | 13.3 | 54.2 | 67.7 | 47.7 | 26.2 | 71.3 | |
Implied Stock Price | 7,630.00 | 1,568.00 | 10,710.00 | 23,550.00 | 7,620.00 | 22,450.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 7,630.00 | 1,568.00 | 10,710.00 | 23,550.00 | 7,620.00 | 22,450.00 | |
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 |