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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 20.94M
267.14x - - - 37.81B
51.94x17.96x43.28x1% 31.39B
43.72x - - - 25.94B
7.96x0.9x4.85x6.84% 2.81B
10.42x0.93x4.95x4.49% 1.99B
14.76x - - 5.12% 1.82B
38.87x - - - 1.35B
56.03x - - 2.38% 1.28B
Average 61.35x 6.60x 17.69x 3.97% 11.6B
Weighted average by Cap. 125.10x 15.70x 38.19x 1.83%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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