Company Valuation: TS Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 192,990 270,884 228,278 285,235 236,213 243,633
Change - 40.36% -15.73% 24.95% -17.19% 3.14%
Enterprise Value (EV) 1 418,359 526,564 442,095 466,060 394,888 321,757
Change - 25.86% -16.04% 5.42% -15.27% -18.52%
P/E 8.77x 13.7x 9.23x 8.98x 12.1x -3.99x
PBR 0.4x 0.53x 0.43x 0.52x 0.42x 0.51x
PEG - -0.9x 0.4x 0.3x -0.3x 0x
Capitalization / Revenue 0.16x 0.21x 0.17x 0.21x 0.17x 0.18x
EV / Revenue 0.34x 0.42x 0.32x 0.35x 0.29x 0.24x
EV / EBITDA 6.78x 9.33x 8.6x 7.76x 7.83x 4.73x
EV / EBIT 9.09x 12.5x 11.6x 9.87x 10.7x 5.69x
EV / FCF 7.99x -14.5x 14.4x 93.8x 8.47x 2.6x
FCF Yield 12.5% -6.89% 6.92% 1.07% 11.8% 38.5%
Dividend per Share 2 90 110 120 115 120 120
Rate of return 3.92% 3.64% 4.72% 3.62% 4.49% 4.25%
EPS 2 261.6 220 275.7 354 220.9 -708
Distribution rate 34.4% 50% 43.5% 32.5% 54.3% -16.9%
Net sales 1 1,214,452 1,261,349 1,378,076 1,332,350 1,373,829 1,356,276
EBITDA 1 61,662 56,419 51,416 60,095 50,430 68,006
EBIT 1 46,016 42,052 38,051 47,217 36,997 56,556
Net income 1 22,611 20,173 25,543 32,573 20,491 -60,396
Net Debt 1 225,368 255,680 213,817 180,825 158,676 78,124
Reference price 2 2,295.00 3,020.00 2,545.00 3,180.00 2,670.00 2,825.00
Nbr of stocks (in thousands) 84,092 89,697 89,697 89,697 88,469 86,242
Announcement Date 3/9/21 A 3/15/22 A 3/16/23 A 3/14/24 A 3/13/25 A 3/19/26 A
1KRW in Million2KRW
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.86x2.95x14.5x3.75% 261B
19.85x2.54x15.12x3.22% 81.43B
16.72x1.73x9.84x3.75% 44.84B
14.82x0.53x9.51x2.6% 38.62B
20.59x3.13x12.73x3.4% 34.09B
34.67x3x17.5x1.07% 30.83B
26.06x5.42x17.27x3.22% 29.7B
-8.74x1.88x9.42x6.47% 29.41B
Average 18.23x 2.65x 13.24x 3.44% 68.74B
Weighted average by Cap. 19.88x 2.71x 13.80x 3.54%

Y-o-Y evolution of P/E

Valuation ratios - P/E - TS Corporation

Historical PBR trend

Valuation ratios - PBR - TS Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - TS Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - TS Corporation