Company Valuation: KOSE Holdings Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 744,501 822,717 603,383 409,669 299,070 299,574 - -
Change - 10.51% -26.66% -32.1% -27% 0.17% - -
Enterprise Value (EV) 1 640,636 716,164 568,383 306,921 217,263 217,857 212,500 204,892
Change - 11.79% -20.64% -46% -29.21% 0.27% -2.46% -3.58%
P/E ratio 55.8x 43.8x 51.7x 54.5x 19.8x 24.2x 21.1x 19.2x
PBR 3.52x 3.18x 2.27x 1.5x 1.05x 1.04x 1.04x 1.01x
PEG - 1.1x -1.4x -1.5x 0x -1.4x 1.5x 1.9x
Capitalization / Revenue 3.31x 2.85x 2.01x 1.27x 0.91x 0.87x 0.84x 0.81x
EV / Revenue 2.85x 2.48x 1.89x 0.95x 0.66x 0.63x 0.6x 0.55x
EV / EBITDA 23.5x 21.8x 21.4x 11.4x 7.4x 6.68x 5.9x 5.49x
EV / EBIT 34x 32.4x 35.6x 17.7x 11.8x 11.3x 9.85x 8.59x
EV / FCF 49x 51.3x 29.6x 32.5x -21.5x -82.6x 16.8x 12.6x
FCF Yield 2.04% 1.95% 3.38% 3.08% -4.64% -1.21% 5.94% 7.97%
Dividend per Share 2 120 140 140 140 140 149.2 149.4 154.2
Rate of return 0.92% 0.97% 1.32% 1.95% 2.67% 2.82% 2.82% 2.91%
EPS 2 233.9 329 204.4 131.6 264.8 218.8 250.5 276.2
Distribution rate 51.3% 42.5% 68.5% 106% 52.9% 68.2% 59.6% 55.8%
Net sales 1 224,983 289,136 300,406 322,700 330,193 344,030 356,377 369,239
EBITDA 1 27,279 32,822 26,567 27,000 29,346 32,609 36,006 37,346
EBIT 1 18,852 22,120 15,985 17,300 18,467 19,200 21,579 23,844
Net income 1 13,341 18,771 11,663 7,500 15,114 12,449 14,213 15,649
Net Debt 1 -103,865 -106,553 -35,000 -102,748 -81,807 -81,717 -87,074 -94,682
Reference price 2 13,050.00 14,420.00 10,575.00 7,179.00 5,240.00 5,296.00 5,296.00 5,296.00
Nbr of stocks (in thousands) 57,050 57,054 57,058 57,065 57,074 56,566 - -
Announcement Date 14/02/22 13/02/23 13/02/24 12/02/25 12/02/26 - - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.8x0.62x6.53x2.87% 1.86B
27.29x4.25x17.56x2.15% 222B
53.65x7.58x29.56x0.29% 46.7B
28.52x1.37x10.52x2.03% 7.42B
20.97x1.5x9.61x1.3% 5.06B
41.46x2.46x12.17x-.--% 3.33B
13.98x1.53x8.45x2.98% 3.23B
17.82x1.71x8.94x3.71% 2.76B
26.71x2.51x15.95x1.81% 2.47B
29.41x - - 3.16% 2.44B
Average 28.36x 2.62x 13.25x 2.03% 29.68B
Weighted average by Cap. 31.28x 4.55x 18.83x 1.85%

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

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