Company Valuation: Adcore Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 43.25 35.11 13.44 8.205 7.357 6.201
Change - -18.82% -61.72% -38.96% -10.34% -15.71%
Enterprise Value (EV) 1 34.88 24.49 7.105 2.099 0.4586 -0.7994
Change - -29.79% -70.99% -70.45% -78.15% -274.31%
P/E 69.9x -122x -6.16x -8.52x -13.5x -6.38x
PBR 6.29x 2.88x 1.38x 0.92x 0.88x 0.83x
PEG - 1x -0x 0.2x 0.3x -0.1x
Capitalization / Revenue 2.54x 1.26x 0.68x 0.35x 0.31x 0.26x
EV / Revenue 2.05x 0.88x 0.36x 0.09x 0.02x -0.03x
EV / EBITDA 27.3x 28.9x -19x -5.98x -1.12x 1.26x
EV / EBIT 28.1x 29.7x -16.3x -5.06x -0.95x 1.15x
EV / FCF 7.61x -21.1x -4.97x 14.8x 0.25x -1.26x
FCF Yield 13.1% -4.75% -20.1% 6.75% 401% -79.3%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.011 -0.004535 -0.036 -0.016 -0.009 -0.016
Distribution rate - - - - - -
Net sales 1 17 27.97 19.69 23.13 23.7 23.83
EBITDA 1 1.277 0.846 -0.373 -0.351 -0.411 -0.632
EBIT 1 1.243 0.825 -0.436 -0.415 -0.481 -0.694
Net income 1 0.648 -0.277 -2.235 -0.944 -0.541 -0.968
Net Debt 1 -8.37 -10.62 -6.337 -6.106 -6.898 -7
Reference price 2 0.7691 0.5531 0.2217 0.1363 0.1216 0.1021
Nbr of stocks (in thousands) 56,239 63,481 60,642 60,201 60,486 60,727
Announcement Date 3/30/21 3/14/22 3/29/23 3/20/24 3/26/25 3/26/26
1USD in Million2USD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.89x3.87x13.52x2.78% 229B
-129x17.99x99.72x-.--% 116B
13.66x1.51x7.91x3.51% 113B
14.25x2.6x9.8x5.77% 83.35B
19.32x5.13x12.59x2.94% 58.46B
13.6x1.96x8.33x5.73% 43.99B
21.07x1.72x10.72x1.39% 42.35B
19.99x1.5x9.62x0.95% 39.17B
16.65x2.09x9.91x5.25% 34.16B
Average 1.49x 4.26x 20.24x 3.15% 84.35B
Weighted average by Cap. -3.67x 5.20x 24.55x 2.91%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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