Company Valuation: APS Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 151,014 273,149 286,712 120,447 95,571 62,291
Change - 80.88% 4.97% -57.99% -20.65% -34.82%
Enterprise Value (EV) 1 209,575 293,786 322,002 188,518 160,426 93,986
Change - 40.18% 9.6% -41.45% -14.9% -41.41%
P/E -3.22x 12.6x 31.2x 10x -71.8x -19.8x
PBR 0.91x 1.48x 1.45x 0.58x 0.47x 0.35x
PEG - -0x -0.5x 0.3x 1x -0x
Capitalization / Revenue 5.96x 6.93x 7.02x 2.93x 1.02x 0.73x
EV / Revenue 8.27x 7.45x 7.89x 4.59x 1.71x 1.11x
EV / EBITDA -32.5x 228x -33.8x -17.3x -11.1x -50.3x
EV / EBIT -19.3x -76.2x -21.1x -10.2x -6.81x -10.1x
EV / FCF -7.83x 14.8x -12.1x -12.9x -253x -4.16x
FCF Yield -12.8% 6.75% -8.29% -7.73% -0.4% -24.1%
Dividend per Share 2 - 100 - - - -
Rate of return - 0.67% - - - -
EPS 2 -2,548 1,179 505 669.1 -73.27 -204.8
Distribution rate - 8.48% - - - -
Net sales 1 25,346 39,416 40,822 41,047 93,965 84,867
EBITDA 1 -6,446 1,290 -9,532 -10,885 -14,488 -1,869
EBIT 1 -10,866 -3,855 -15,239 -18,519 -23,566 -9,321
Net income 1 -46,873 21,683 9,223 12,787 -1,323 -3,486
Net Debt 1 58,561 20,637 35,290 68,071 64,854 31,695
Reference price 2 8,210.00 14,850.00 15,750.00 6,700.00 5,260.00 4,060.00
Nbr of stocks (in thousands) 18,394 18,394 18,204 17,977 18,169 15,343
Announcement Date 3/23/21 3/23/22 3/22/23 3/21/24 3/21/25 3/20/26
1KRW in Million2KRW
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 49.51M
25.14x9.29x15.12x0.79% 3,679B
114.9x49.61x80.52x-.--% 418B
453.09x19.52x76.87x-.--% 91.73B
67.65x14.27x30.09x-.--% 89.45B
156.19x9.11x23.26x-.--% 80.71B
40.6x2.09x16.67x-.--% 74.69B
128.83x5.3x25.56x-.--% 46.17B
163.95x5.21x20.04x-.--% 41.06B
27.79x5.71x27.4x-.--% 36.58B
Average 130.90x 13.34x 35.06x 0.09% 455.73B
Weighted average by Cap. 47.72x 13.06x 23.07x 0.64%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA