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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | -6,1x - -6,7x | -6,4x |
Selected Fwd EBIT Multiple | 6,9x - 7,6x | 7,3x |
Fair Value | ₩502,91 - ₩518,79 | ₩510,85 |
Upside | -16,5% - -13,8% | -15,1% |
Benchmarks | Ticker | Full Ticker |
ASTORY Co.,Ltd | A241840 | KOSDAQ:A241840 |
Wemade Play Co., Ltd. | A123420 | KOSDAQ:A123420 |
Neptune Company | A217270 | KOSDAQ:A217270 |
Actoz Soft Co.,Ltd. | A052790 | KOSDAQ:A052790 |
CUROHOLDINGS Co., Ltd. | A051780 | KOSDAQ:A051780 |
VALOFE Co.,Ltd | A331520 | KOSDAQ:A331520 |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
A241840 | A123420 | A217270 | A052790 | A051780 | A331520 | ||
KOSDAQ:A241840 | KOSDAQ:A123420 | KOSDAQ:A217270 | KOSDAQ:A052790 | KOSDAQ:A051780 | KOSDAQ:A331520 | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | -17.5% | NM- | 5.8% | NM- | NM- | |
3Y CAGR | NM- | -43.9% | NM- | 5.1% | NM- | NM- | |
Latest Twelve Months | -191.4% | 921.9% | 135.0% | -29.7% | -150.0% | -782.2% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | -1.3% | 3.7% | -52.8% | 39.6% | -1.4% | 3.6% | |
Prior Fiscal Year | 12.3% | -0.4% | 2.2% | 46.9% | -4.5% | 0.6% | |
Latest Fiscal Year | -23.7% | 0.9% | 7.1% | 37.0% | -13.4% | -0.5% | |
Latest Twelve Months | -133.8% | 2.5% | 8.0% | 34.0% | -14.5% | -4.2% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 13.57x | 0.35x | 0.80x | -1.18x | 0.48x | 0.33x | |
EV / LTM EBITDA | -11.5x | 3.8x | 5.6x | -3.3x | -3.9x | -100.1x | |
EV / LTM EBIT | -10.1x | 13.8x | 10.1x | -3.5x | -3.3x | -7.9x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | -10.1x | -3.3x | 13.8x | ||||
Historical EV / LTM EBIT | -25.3x | 14.2x | 201.9x | ||||
Selected EV / LTM EBIT | -6.1x | -6.4x | -6.7x | ||||
(x) LTM EBIT | (1,476) | (1,476) | (1,476) | ||||
(=) Implied Enterprise Value | 8,942 | 9,413 | 9,883 | ||||
(-) Non-shareholder Claims * | 17,272 | 17,272 | 17,272 | ||||
(=) Equity Value | 26,215 | 26,685 | 27,156 | ||||
(/) Shares Outstanding | 49.1 | 49.1 | 49.1 | ||||
Implied Value Range | 534.35 | 543.95 | 553.54 | ||||
FX Rate: KRW/KRW | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 534.35 | 543.95 | 553.54 | 602.00 | |||
Upside / (Downside) | -11.2% | -9.6% | -8.0% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | A241840 | A123420 | A217270 | A052790 | A051780 | A331520 | |
Enterprise Value | 60,020 | 33,801 | 101,980 | (140,074) | 30,769 | 12,261 | |
(+) Cash & Short Term Investments | 16,217 | 38,384 | 44,031 | 172,493 | 10,987 | 24,100 | |
(+) Investments & Other | 14,878 | 152,829 | 190,748 | 40,865 | 21,616 | 1,010 | |
(-) Debt | (3,651) | (98,815) | (6,200) | (2,929) | (42,689) | (7,838) | |
(-) Other Liabilities | 0 | (10,436) | (8,195) | 0 | (2,375) | 0 | |
(-) Preferred Stock | 0 | 0 | (484) | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 87,465 | 115,764 | 321,881 | 70,354 | 18,308 | 29,533 | |
(/) Shares Outstanding | 9.0 | 10.4 | 44.9 | 10.9 | 23.2 | 49.1 | |
Implied Stock Price | 9,670.00 | 11,130.00 | 7,170.00 | 6,440.00 | 790.00 | 602.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 9,670.00 | 11,130.00 | 7,170.00 | 6,440.00 | 790.00 | 602.00 | |
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 |