Company Valuation: KOSE Holdings Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 744,501 822,717 603,383 409,669 299,070 334,544 - -
Change - 10.51% -26.66% -32.1% -27% 11.86% - -
Enterprise Value (EV) 1 640,636 716,164 568,383 306,921 217,263 269,282 248,371 241,056
Change - 11.79% -20.64% -46% -29.21% 23.94% -7.77% -2.95%
P/E 55.8x 43.8x 51.7x 54.5x 19.8x 26.2x 24.4x 21.8x
PBR 3.52x 3.18x 2.27x 1.5x 1.05x 1.16x 1.15x 1.12x
PEG - 1.1x -1.4x -1.5x 0x -1.8x 3.38x 1.8x
Capitalization / Revenue 3.31x 2.85x 2.01x 1.27x 0.91x 0.97x 0.94x 0.91x
EV / Revenue 2.85x 2.48x 1.89x 0.95x 0.66x 0.78x 0.7x 0.66x
EV / EBITDA 23.5x 21.8x 21.4x 11.4x 7.4x 9.02x 7.33x 6.68x
EV / EBIT 34x 32.4x 35.6x 17.7x 11.8x 15.1x 11.9x 10.3x
EV / FCF 49x 51.3x 29.6x 32.5x -21.5x -28.6x 19.6x 15.5x
FCF Yield 2.04% 1.95% 3.38% 3.08% -4.64% -3.49% 5.1% 6.44%
Dividend per Share 2 120 140 140 140 140 149.2 150.2 154.2
Rate of return 0.92% 0.97% 1.32% 1.95% 2.67% 2.53% 2.55% 2.62%
EPS 2 233.9 329 204.4 131.6 264.8 225.4 241.6 270.2
Distribution rate 51.3% 42.5% 68.5% 106% 52.9% 66.2% 62.1% 57.1%
Net sales 1 224,983 289,136 300,406 322,700 330,193 344,131 355,503 367,374
EBITDA 1 27,279 32,822 26,567 27,000 29,346 29,856 33,877 36,084
EBIT 1 18,852 22,120 15,985 17,300 18,467 17,837 20,788 23,303
Net income 1 13,341 18,771 11,663 7,500 15,114 12,119 13,758 15,375
Net Debt 1 -103,865 -106,553 -35,000 -102,748 -81,807 -65,262 -86,173 -93,488
Reference price 2 13,050.00 14,420.00 10,575.00 7,179.00 5,240.00 5,895.00 5,895.00 5,895.00
Nbr of stocks (in thousands) 57,050 57,054 57,058 57,065 57,074 56,750 - -
Announcement Date 14/02/22 13/02/23 13/02/24 12/02/25 12/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
26.2x0.79x9.09x2.52% 2.13B
29.35x4.55x18.75x2.02% 238B
60.2x8.5x32.64x0.21% 52.35B
24.9x4.55x17.73x1.34% 10.21B
34.22x1.63x12.34x1.66% 9.17B
23.8x1.71x10.97x1.13% 6.22B
51.66x3.23x15.78x-.--% 5.81B
25.28x2.5x13.41x2.6% 3.94B
14.25x1.56x8.75x3% 3.35B
18.86x2.44x11.8x4.11% 2.52B
Average 30.87x 3.15x 15.13x 1.86% 33.32B
Weighted average by Cap. 34.18x 4.92x 20.25x 1.69%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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