Company Valuation: iA, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 258,377 307,486 176,094 128,131 53,317 55,124
Change - 19.01% -42.73% -27.24% -58.39% 3.39%
Enterprise Value (EV) 1 271,461 307,497 189,299 150,703 95,221 78,533
Change - 13.27% -38.44% -20.39% -36.82% -17.53%
P/E 20.1x 131x -67.4x -7.52x -2.77x -1.59x
PBR 2.85x 3.02x 1.83x 1.69x 0.76x 1.06x
PEG - -1.6x 0x -0x -0.54x -0x
Capitalization / Revenue 4.42x 3.79x 2.37x 2.17x 1.05x 1.34x
EV / Revenue 4.64x 3.79x 2.55x 2.55x 1.88x 1.91x
EV / EBITDA 42.9x 31.8x -160x -17x -15.2x -10.2x
EV / EBIT 63.4x 45.9x -74.6x -14.5x -11.9x -8.18x
EV / FCF 521x 174x -39.2x -73x -12.1x 42.4x
FCF Yield 0.19% 0.57% -2.55% -1.37% -8.26% 2.36%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 2,337 400 -450 -3,000 -3,154 -4,750
Distribution rate - - - - - -
Net sales 1 58,450 81,228 74,215 59,180 50,723 41,183
EBITDA 1 6,321 9,657 -1,182 -8,884 -6,263 -7,708
EBIT 1 4,285 6,701 -2,537 -10,400 -7,977 -9,598
Net income 1 13,119 2,442 -2,639 -17,111 -18,958 -34,349
Net Debt 1 13,084 10.2 13,205 22,572 41,904 23,409
Reference price 2 46,900.00 52,250.00 30,350.00 22,550.00 8,750.00 7,550.00
Nbr of stocks (in thousands) 5,509 5,885 5,802 5,682 6,093 7,301
Announcement Date 3/17/21 3/18/22 3/21/23 3/20/24 3/20/25 3/18/26
1KRW in Million2KRW
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 18.02M
21.88x12.32x18.28x0.37% 5,010B
22.11x10.78x14.65x1.15% 1,884B
42.4x17.37x25.57x0.68% 1,817B
12.67x7.68x9.29x0.06% 1,040B
5.44x3.11x3.74x0.32% 878B
97.19x16.85x62.32x-.--% 851B
-39.91x7.72x21.62x-.--% 466B
215.27x45.78x97.11x-.--% 278B
32.89x11.93x22.12x2.05% 255B
Average 45.55x 14.84x 30.52x 0.52% 1,248B
Weighted average by Cap. 30.34x 12.66x 21.98x 0.49%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA