Company Valuation: PARK24 Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: October 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 2,17,519 2,69,019 3,38,482 2,88,349 3,26,004 3,95,774 3,95,774 -
Change - 23.68% 25.82% -14.81% 13.06% 21.4% 0% -
Enterprise Value (EV) 1 3,67,677 4,05,828 4,47,614 3,85,114 4,21,252 3,99,718 4,95,870 4,97,658
Change - 10.38% 10.3% -13.96% 9.38% -5.11% 3.24% 0.36%
P/E ratio -4.66x -23.1x 130x 16.4x 17.5x 19.3x 16.6x 14.6x
PBR 7.02x 16.4x 8.47x 4.94x 4.17x 3.13x 4.5x 3.97x
PEG - 0.3x -1x 0x 2.84x -1.3x 0.5x 1x
Capitalization / Revenue 0.81x 1.07x 1.17x 0.87x 0.88x 0.76x 0.9x 0.83x
EV / Revenue 1.37x 1.62x 1.54x 1.17x 1.14x 0.98x 1.12x 1.04x
EV / EBITDA 15.9x 15.8x 8.58x 6.06x 5.7x 5.37x 6.02x 5.73x
EV / EBIT -25x -50.5x 21.7x 12x 10.9x 10.6x 11.9x 10.9x
EV / FCF 20.9x 18.1x 37.3x 17.1x 16.5x 23.8x 8.84x 11.4x
FCF Yield 4.78% 5.54% 2.68% 5.85% 6.04% 4.21% 11.3% 8.79%
Dividend per Share 2 - - - - 5 30 65.2 80.2
Rate of return - - - - 0.26% 1.66% 2.81% 3.46%
EPS 2 -302 -75.45 15.22 102.9 109.2 93.28 139.7 159.2
Distribution rate - - - - 4.58% 32.2% 46.7% 50.4%
Net sales 1 2,68,904 2,51,102 2,90,253 3,30,123 3,70,913 4,06,168 4,41,762 4,77,211
EBITDA 1 23,052 25,641 52,159 63,501 73,921 74,367 82,396 86,882
EBIT 1 -14,698 -8,039 20,672 31,986 38,697 37,561 41,537 45,526
Net income 1 -46,652 -11,658 2,476 17,542 18,625 15,917 23,875 27,196
Net Debt 1 1,50,158 1,36,809 1,09,132 96,765 95,248 92,172 1,00,095 1,01,884
Reference price 2 1,408.00 1,741.00 1,985.00 1,691.00 1,911.00 2,319.00 2,319.00 2,319.00
Nbr of stocks (in thousands) 1,54,488 1,54,520 1,70,520 1,70,520 1,70,593 1,70,666 1,70,666 -
Announcement Date 15/12/20 15/12/21 15/12/22 14/12/23 16/12/24 15/12/25 - -
1JPY in Million2JPY
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.48x1.19x6.51x1.29% 250.6Cr
30.13x15.16x25.44x3.39% 499.66Cr
23.77x9.29x15.06x5.05% 221.56Cr
15.19x2.09x7.89x3.17% 57Cr
36.62x4.4x15.02x - 34Cr
Average 25.64x 6.42x 13.98x 3.22% 212.64Cr
Weighted average by Cap. 26.41x 9.59x 17.53x 3.22%
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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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