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 Ratio 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 17/03/21 15/03/22 14/03/23 18/03/24 18/03/25 16/03/26
1KRW in Million2KRW
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 67.52M
13.02x1.98x8.69x1.86% 5.51B
17.25x1.65x11.05x1.75% 4.92B
25.25x - - 3.28% 3.97B
15.22x0.7x6.49x2.92% 3.24B
15.37x1.02x7.22x1.39% 3.15B
21.26x - - 2.39% 2.59B
26.25x - - 0.76% 2.44B
18.19x2.55x12.43x4.28% 2.45B
Average 18.98x 1.58x 9.18x 2.33% 3.15B
Weighted average by Cap. 18.33x 1.60x 9.16x 2.27%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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