Company Valuation: CAS Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 50,328 113,651 40,548 36,935 52,343 26,491
Change - 125.82% -64.32% -8.91% 41.72% -49.39%
Enterprise Value (EV) 1 86,949 166,271 92,287 88,159 106,286 79,552
Change - 91.23% -44.5% -4.47% 20.56% -25.15%
P/E -21.4x -40.3x 13.6x 21.3x 42x -16x
PBR 1.14x 2.44x 0.66x 0.57x 0.75x 0.39x
PEG - -2.1x -0x -0.5x -1.5x 0x
Capitalization / Revenue 0.36x 0.71x 0.24x 0.24x 0.34x 0.16x
EV / Revenue 0.62x 1.04x 0.55x 0.57x 0.68x 0.49x
EV / EBITDA 12.5x 19x 10x 9.92x 14.6x 12.9x
EV / EBIT 22.8x 30.4x 17.1x 17.5x 29.7x 38.6x
EV / FCF 5.9x -10.6x -14.8x 87.3x -22.2x 30.6x
FCF Yield 17% -9.41% -6.74% 1.15% -4.5% 3.27%
Dividend per Share 2 10 15 10 10 10 -
Rate of return 0.44% 0.29% 0.61% 0.67% 0.47% -
EPS 2 -107 -128 121 70.55 50.74 -67.45
Distribution rate -9.35% -11.7% 8.26% 14.2% 19.7% -
Net sales 1 139,361 160,551 168,363 156,032 156,004 161,074
EBITDA 1 6,951 8,729 9,189 8,888 7,303 6,146
EBIT 1 3,818 5,477 5,404 5,048 3,578 2,060
Net income 1 -2,205 -2,578 2,739 1,734 1,311 -1,658
Net Debt 1 36,620 52,620 51,739 51,224 53,942 53,060
Reference price 2 2,285.00 5,160.00 1,650.00 1,503.00 2,130.00 1,078.00
Nbr of stocks (in thousands) 22,025 22,025 24,574 24,574 24,574 24,574
Announcement Date 3/19/21 3/21/22 3/21/23 3/20/24 3/21/25 3/23/26
1KRW in Million2KRW
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 16.96M
48.27x16.82x39.85x1.1% 27.24B
37.38x - - - 21.98B
8.55x1.09x6.01x7.16% 3.1B
12.02x1.26x6.2x3.98% 2.54B
13.51x - - 5.42% 1.65B
53.79x - - 2.48% 1.24B
30.45x - - - 1.04B
Average 29.14x 6.39x 17.35x 4.03% 7.35B
Weighted average by Cap. 39.36x 14.14x 34.06x 2.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation CAS Corporation