Company Valuation: ESTec Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 95,033 78,465 69,298 75,017 88,389 122,534
Change - -17.43% -11.68% 8.25% 17.83% 38.63%
Enterprise Value (EV) 1 32,731 75,547 61,354 35,035 -605.9 9,674
Change - 130.81% -18.79% -42.9% -101.73% 1,696.51%
P/E 7.8x -2.25x 7.27x 3.46x 1.91x 2.94x
PBR 0.61x 0.62x 0.5x 0.48x 0.43x 0.52x
PEG - 0x -0x 0x 0x -0.3x
Capitalization / Revenue 0.3x 0.24x 0.15x 0.18x 0.17x 0.26x
EV / Revenue 0.1x 0.23x 0.13x 0.08x -0x 0.02x
EV / EBITDA 1.47x -2.06x 3.34x 1.05x -0.01x 0.18x
EV / EBIT 2.46x -1.64x 7.03x 1.43x -0.01x 0.21x
EV / FCF 6.88x -1.5x -19x 1.36x -0.03x 0.49x
FCF Yield 14.5% -66.8% -5.28% 73.3% -3,893% 205%
Dividend per Share 2 400 - 300 500 850 -
Rate of return 3.54% - 3.64% 5.61% 8.09% -
EPS 2 1,449 -4,142 1,134 2,576 5,501 4,949
Distribution rate 27.6% - 26.5% 19.4% 15.5% -
Net sales 1 312,486 330,655 468,449 414,594 509,374 468,192
EBITDA 1 22,200 -36,686 18,345 33,216 52,285 54,424
EBIT 1 13,324 -45,928 8,722 24,555 43,956 45,838
Net income 1 12,190 -34,837 9,536 21,660 46,267 41,623
Net Debt 1 -62,302 -2,918 -7,945 -39,982 -88,995 -112,860
Reference price 2 11,300.00 9,330.00 8,240.00 8,920.00 10,510.00 14,570.00
Nbr of stocks (in thousands) 8,410 8,410 8,410 8,410 8,410 8,410
Announcement Date 17/03/21 15/03/22 14/03/23 18/03/24 18/03/25 16/03/26
1KRW in Million2KRW
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 69.36M
11.75x1.81x7.67x2% 5.12B
13.76x1.3x8.9x2.17% 3.93B
18.73x - - 4.42% 2.94B
14.69x0.96x6.81x1.47% 2.98B
19.43x2.65x12.92x4.05% 2.49B
10.29x0.44x4.11x4.33% 2.19B
19.17x - - 4.31% 2.17B
Average 15.40x 1.43x 8.08x 3.25% 2.74B
Weighted average by Cap. 14.92x 1.48x 8.12x 2.98%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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