Company Valuation: CAS Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 50,328 113,651 40,548 36,935 52,343 26,491
Change - 125.82% -64.32% -8.91% 41.72% -49.39%
Enterprise Value (EV) 1 86,949 166,271 92,287 88,159 106,286 79,552
Change - 91.23% -44.5% -4.47% 20.56% -25.15%
P/E -21.4x -40.3x 13.6x 21.3x 42x -16x
PBR 1.14x 2.44x 0.66x 0.57x 0.75x 0.39x
PEG - -2.1x -0x -0.5x -1.5x 0x
Capitalization / Revenue 0.36x 0.71x 0.24x 0.24x 0.34x 0.16x
EV / Revenue 0.62x 1.04x 0.55x 0.57x 0.68x 0.49x
EV / EBITDA 12.5x 19x 10x 9.92x 14.6x 12.9x
EV / EBIT 22.8x 30.4x 17.1x 17.5x 29.7x 38.6x
EV / FCF 5.9x -10.6x -14.8x 87.3x -22.2x 30.6x
FCF Yield 17% -9.41% -6.74% 1.15% -4.5% 3.27%
Dividend per Share 2 10 15 10 10 10 -
Rate of return 0.44% 0.29% 0.61% 0.67% 0.47% -
EPS 2 -107 -128 121 70.55 50.74 -67.45
Distribution rate -9.35% -11.7% 8.26% 14.2% 19.7% -
Net sales 1 139,361 160,551 168,363 156,032 156,004 161,074
EBITDA 1 6,951 8,729 9,189 8,888 7,303 6,146
EBIT 1 3,818 5,477 5,404 5,048 3,578 2,060
Net income 1 -2,205 -2,578 2,739 1,734 1,311 -1,658
Net Debt 1 36,620 52,620 51,739 51,224 53,942 53,060
Reference price 2 2,285.00 5,160.00 1,650.00 1,503.00 2,130.00 1,078.00
Nbr of stocks (in thousands) 22,025 22,025 24,574 24,574 24,574 24,574
Announcement Date 3/19/21 A 3/21/22 A 3/21/23 A 3/20/24 A 3/21/25 A 3/23/26 A
1KRW in Million2KRW
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 18.42M
52.49x18.16x43.75x0.99% 31.39B
39.87x - - - 23.55B
9.16x1.06x5.72x5.94% 3.22B
11.6x1.21x5.96x4.12% 2.46B
13.61x - - 5.38% 1.67B
62.05x - - 2.15% 1.42B
36.95x - - - 1.27B
Average 32.25x 6.81x 18.48x 3.72% 8.12B
Weighted average by Cap. 43.13x 15.55x 37.93x 1.8%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation CAS Corporation