Company Valuation: KOSE Holdings Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 744,501 822,717 603,383 409,669 299,070 330,820 - -
Change - 10.51% -26.66% -32.1% -27% 10.62% - -
Enterprise Value (EV) 1 640,636 716,164 568,383 306,921 217,263 243,995 237,926 231,340
Change - 11.79% -20.64% -46% -29.21% 12.3% -2.49% -2.77%
P/E ratio 55.8x 43.8x 51.7x 54.5x 19.8x 25.5x 23.2x 20.6x
PBR 3.52x 3.18x 2.27x 1.5x 1.05x 1.17x 1.14x 1.11x
PEG - 1.1x -1.4x -1.5x 0x -1.9x 2.3x 1.6x
Capitalization / Revenue 3.31x 2.85x 2.01x 1.27x 0.91x 0.96x 0.93x 0.89x
EV / Revenue 2.85x 2.48x 1.89x 0.95x 0.66x 0.71x 0.67x 0.63x
EV / EBITDA 23.5x 21.8x 21.4x 11.4x 7.4x 7.48x 6.73x 6.14x
EV / EBIT 34x 32.4x 35.6x 17.7x 11.8x 12.3x 10.9x 9.54x
EV / FCF 49x 51.3x 29.6x 32.5x -21.5x -92.5x 17.2x 13.9x
FCF Yield 2.04% 1.95% 3.38% 3.08% -4.64% -1.08% 5.82% 7.19%
Dividend per Share 2 120 140 140 140 140 150 149.1 154
Rate of return 0.92% 0.97% 1.32% 1.95% 2.67% 2.57% 2.56% 2.64%
EPS 2 233.9 329 204.4 131.6 264.8 228.7 251.8 283.5
Distribution rate 51.3% 42.5% 68.5% 106% 52.9% 65.6% 59.2% 54.3%
Net sales 1 224,983 289,136 300,406 322,700 330,193 344,418 357,473 370,060
EBITDA 1 27,279 32,822 26,567 27,000 29,346 32,630 35,341 37,679
EBIT 1 18,852 22,120 15,985 17,300 18,467 19,808 21,765 24,254
Net income 1 13,341 18,771 11,663 7,500 15,114 13,001 14,291 16,066
Net Debt 1 -103,865 -106,553 -35,000 -102,748 -81,807 -86,826 -92,895 -99,480
Reference price 2 13,050.00 14,420.00 10,575.00 7,179.00 5,240.00 5,832.00 5,832.00 5,832.00
Nbr of stocks (in thousands) 57,050 57,054 57,058 57,065 57,074 56,725 - -
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.($)
25.5x0.71x7.48x2.57% 2.08B
27.6x4.23x17.45x2.13% 225B
56.07x7.77x29.99x0.3% 47.54B
20.86x1.46x9.53x2.56% 17.34B
31.85x1.53x11.81x1.8% 8.45B
22.96x1.65x10.54x1.22% 5.53B
48.09x2.78x13.75x-.--% 3.85B
15.28x1.79x9.69x2.53% 3.52B
19.07x1.9x9.77x3.44% 2.98B
14.86x1.83x11.96x4.78% 2.5B
Average 28.21x 2.56x 13.20x 2.13% 31.87B
Weighted average by Cap. 31.43x 4.38x 18.31x 1.87%

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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