Company Valuation: MAKUS Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2024 2025 2026 2027 2028
Market Cap 1 96,586 95,022 80,573 190,750 248,654 - -
Change - -1.62% - 136.74% 30.36% - -
Enterprise Value (EV) 1 96.59 55.43 60.69 115.1 149.1 128.2 104.8
Change - -42.61% - 89.56% 29.55% -14.02% -18.26%
P/E 3.87x 4.26x 4.15x 8.43x 10.7x 8.03x 7.28x
PBR 1.63x 1.37x 1.17x 2.47x 2.41x 1.72x 1.47x
PEG - -0.4x - 0.3x 1.87x 0.2x 0.7x
Capitalization / Revenue 0.69x 0.49x 0.4x 0.84x 0.96x 0.87x 0.8x
EV / Revenue 0.69x 0.29x 0.3x 0.51x 0.58x 0.45x 0.34x
EV / EBITDA 3.68x 1.75x 2.23x 3.91x 3.93x 2.99x 2.2x
EV / EBIT 3.71x 1.8x 2.26x 3.95x 3.97x 3.03x 2.22x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 3 120 120 200 1,200 1,300 1,400 1,500
Rate of return 1.49% 1.52% 2.43% 5.47% 4.41% 4.75% 5.08%
EPS 3 2,076 1,854 1,983 2,604 2,753 3,675 4,050
Distribution rate 5.78% 6.47% 10.1% 46.1% 47.2% 38.1% 37%
Net sales 1 140.7 193.8 199.6 227.2 257.7 285.1 312.6
EBITDA 1 26.28 31.75 27.22 29.46 37.9 42.8 47.6
EBIT 1 26.02 30.86 26.89 29.1 37.5 42.3 47.1
Net income 1 24.96 21.8 20.04 23.05 33.5 37.4 41.2
Net Debt 1 - -39.59 -19.88 -75.7 -99.6 -120.5 -143.9
Reference price 3 8,030.00 7,900.00 8,230.00 21,950.00 29,500.00 29,500.00 29,500.00
Nbr of stocks (in thousands) 12,028 12,028 9,790 8,690 8,429 - -
Announcement Date 3/17/22 2/9/23 3/20/25 3/18/26 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.72x0.58x3.93x4.41% 185M
23.43x13.34x20.12x0.32% 5,649B
23.23x11.42x15.48x1.08% 2,035B
38.4x16.23x23.84x0.73% 1,695B
14.63x8.98x10.8x0.05% 1,214B
110.52x20.07x76.37x-.--% 1,035B
5.22x3.39x4.09x0.19% 996B
-51.7x10.3x28.67x-.--% 627B
243.9x53.58x109.14x-.--% 328B
Average 46.48x 15.32x 32.49x 0.75% 1,509B
Weighted average by Cap. 31.65x 13.64x 24.71x 0.41%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield