Company Valuation: ESTsoft Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 78,139 181,960 86,926 143,907 238,013 174,092
Change - 132.87% -52.23% 65.55% 65.39% -26.86%
Enterprise Value (EV) 1 59,198 124,539 32,902 101,612 185,154 133,691
Change - 110.38% -73.58% 208.83% 82.22% -27.79%
P/E 13.1x 74.4x -14.3x -23.3x -20.3x -9.75x
PBR 1.94x 2.92x 1.68x 2.02x 3.46x 3.47x
PEG - -1.2x 0x -6.97x -0.3x -0.2x
Capitalization / Revenue 0.93x 2.03x 0.98x 1.56x 2.32x 1.63x
EV / Revenue 0.71x 1.39x 0.37x 1.1x 1.81x 1.25x
EV / EBITDA 6.49x 9.34x -11.7x -17.7x -18.4x -8.87x
EV / EBIT 10.1x 12.4x -5.8x -11.4x -13.8x -7.05x
EV / FCF -23.5x 13.7x -5.26x 32.9x -10.3x -19.6x
FCF Yield -4.25% 7.27% -19% 3.04% -9.74% -5.1%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 682.6 243.3 -613.9 -634.4 -1,139 -1,715
Distribution rate - - - - - -
Net sales 1 83,648 89,583 88,768 92,482 102,457 106,793
EBITDA 1 9,126 13,340 -2,819 -5,742 -10,062 -15,080
EBIT 1 5,881 10,065 -5,668 -8,907 -13,456 -18,954
Net income 1 6,128 4,706 -6,102 -6,175 -11,651 -17,728
Net Debt 1 -18,940 -57,421 -54,024 -42,295 -52,859 -40,401
Reference price 2 8,960.00 18,100.00 8,800.00 14,780.00 23,150.00 16,730.00
Nbr of stocks (in thousands) 8,721 10,053 9,878 9,737 10,281 10,406
Announcement Date 3/16/21 3/24/22 3/21/23 3/20/24 3/18/25 3/18/26
1KRW in Million2KRW
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 61.15M
25x9.23x15.03x0.79% 3,657B
112.92x48.73x79.09x-.--% 411B
67.3x14.19x29.93x-.--% 88.99B
429.62x18.35x72.2x-.--% 86.5B
152.79x8.93x22.79x-.--% 78.95B
42.47x2.24x17.85x-.--% 78.47B
118.79x5.21x25.14x-.--% 45.44B
-285.56x5.94x19.68x-.--% 39.39B
28.8x5.92x28.38x-.--% 37.87B
Average 76.90x 13.19x 34.46x 0.09% 452.33B
Weighted average by Cap. 42.36x 12.87x 22.68x 0.64%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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