Company Valuation: ESTec Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 95,033 78,465 69,298 75,017 88,389 122,534
Change - -17.43% -11.68% 8.25% 17.83% 38.63%
Enterprise Value (EV) 1 32,731 75,547 61,354 35,035 -605.9 9,674
Change - 130.81% -18.79% -42.9% -101.73% 1,696.51%
P/E 7.8x -2.25x 7.27x 3.46x 1.91x 2.94x
PBR 0.61x 0.62x 0.5x 0.48x 0.43x 0.52x
PEG - 0x -0x 0x 0x -0.3x
Capitalization / Revenue 0.3x 0.24x 0.15x 0.18x 0.17x 0.26x
EV / Revenue 0.1x 0.23x 0.13x 0.08x -0x 0.02x
EV / EBITDA 1.47x -2.06x 3.34x 1.05x -0.01x 0.18x
EV / EBIT 2.46x -1.64x 7.03x 1.43x -0.01x 0.21x
EV / FCF 6.88x -1.5x -19x 1.36x -0.03x 0.49x
FCF Yield 14.5% -66.8% -5.28% 73.3% -3,893% 205%
Dividend per Share 2 400 - 300 500 850 -
Rate of return 3.54% - 3.64% 5.61% 8.09% -
EPS 2 1,449 -4,142 1,134 2,576 5,501 4,949
Distribution rate 27.6% - 26.5% 19.4% 15.5% -
Net sales 1 312,486 330,655 468,449 414,594 509,374 468,192
EBITDA 1 22,200 -36,686 18,345 33,216 52,285 54,424
EBIT 1 13,324 -45,928 8,722 24,555 43,956 45,838
Net income 1 12,190 -34,837 9,536 21,660 46,267 41,623
Net Debt 1 -62,302 -2,918 -7,945 -39,982 -88,995 -112,860
Reference price 2 11,300.00 9,330.00 8,240.00 8,920.00 10,510.00 14,570.00
Nbr of stocks (in thousands) 8,410 8,410 8,410 8,410 8,410 8,410
Announcement Date 3/17/21 3/15/22 3/14/23 3/18/24 3/18/25 3/16/26
1KRW in Million2KRW
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 64.63M
12.31x1.87x8.22x1.96% 5.22B
14.41x1.35x9.04x2.1% 4.1B
23.88x - - 3.47% 3.74B
13.67x0.92x6.54x1.57% 2.8B
13.58x0.61x5.7x3.28% 2.88B
26.06x - - 0.77% 2.41B
19.08x - - 2.66% 2.32B
17.65x2.48x12.1x4.41% 2.3B
Average 17.58x 1.45x 8.32x 2.53% 2.87B
Weighted average by Cap. 16.99x 1.47x 8.24x 2.48%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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