Company Valuation: Netmarble Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 10,241,821 4,948,848 4,760,399 4,236,017 3,953,343 3,347,811 - -
Change - -51.68% -3.81% -11.02% -6.67% -15.32% - -
Enterprise Value (EV) 1 9,282 6,460 6,021 4,774 4,613 3,634 3,557 3,365
Change - -30.4% -6.79% -20.71% -3.37% -21.23% -2.11% -5.4%
P/E 42.6x -6.03x -18.6x 168x 18.1x 6.86x 10.3x 10.4x
PBR 1.7x 0.88x 0.96x 0.78x 0.73x 0.56x 0.53x 0.52x
PEG - 0x 0.3x -2x 0x 0x -0.3x -10.59x
Capitalization / Revenue 4.09x 1.85x 1.9x 1.59x 1.39x 1.13x 1.1x 1.11x
EV / Revenue 3.7x 2.42x 2.41x 1.79x 1.63x 1.22x 1.17x 1.11x
EV / EBITDA 30.8x 52.2x 51.5x 12.9x 9.53x 8.04x 6.72x 6.56x
EV / EBIT 60.1x -61.8x -86.5x 22.1x 13.1x 11.2x 8.87x 9.02x
EV / FCF 182x -14.5x -44.8x 17.7x 15.9x 5.72x 9.66x 9.46x
FCF Yield 0.55% -6.92% -2.23% 5.66% 6.3% 17.5% 10.4% 10.6%
Dividend per Share 3 528 - - 417 876 916.5 973.2 1,083
Rate of return 0.42% - - 0.81% 1.82% 2.24% 2.38% 2.65%
EPS 3 2,932 -10,023 -3,120 308 2,665 5,959 3,987 3,948
Distribution rate 18% - - 135% 32.9% 15.4% 24.4% 27.4%
Net sales 1 2,506 2,673 2,501 2,664 2,835 2,968 3,042 3,026
EBITDA 1 301.6 123.7 117 370 484 452.1 529.5 512.7
EBIT 1 154.5 -104.5 -69.6 215.6 352.5 324.8 401 373.3
Net income 1 240.2 -906.4 -266.6 28.8 239.3 490.3 336.1 355.5
Net Debt 1 -959.5 1,511 1,261 538.1 660 286.3 209.4 17.27
Reference price 3 125,000.00 60,400.00 58,100.00 51,700.00 48,250.00 40,900.00 40,900.00 40,900.00
Nbr of stocks (in thousands) 81,935 81,935 81,935 81,935 81,935 81,854 - -
Announcement Date 9/2/22 9/2/23 7/2/24 13/2/25 5/2/26 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.86x1.24x8.11x2.24% 2.38B
14.32x3.21x8.34x2.47% 83.73B
17.45x2.27x8.04x2.47% 12.08B
12.78x1.6x4.73x0.93% 7.51B
13.88x2.38x10.96x5.86% 6.45B
27.18x2.39x11.95x1.68% 6.33B
14.18x3.45x8.64x5.35% 4.07B
14.81x5x11.85x3.4% 3.43B
11.37x1.21x5.57x0.52% 3.42B
14.63x2.28x10.89x5.91% 3.38B
Average 14.75x 2.50x 8.91x 3.08% 13.28B
Weighted average by Cap. 14.92x 2.90x 8.50x 2.66%

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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  4. Valuation Netmarble Corporation