Company Valuation: UniTest Incorporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,02,868 2,13,495 2,72,256 1,78,725 2,76,120 3,09,059 - -
Change - -64.59% 27.52% -34.35% 54.49% 11.93% - -
Enterprise Value (EV) 1 568.4 190.5 272.3 178.7 276.1 305.8 270.7 267.6
Change - -66.48% 42.91% -34.35% 54.49% 10.73% -11.48% -1.15%
P/E -101x -40.1x 40.3x -6.76x -13.3x 17.3x 6.97x 6.83x
PBR 4.15x 1.56x - - - 2.85x 2.09x 1.67x
PEG - 3.6x -0x 0x 0.6x -0x 0x 3.31x
Capitalization / Revenue 5.26x 1.72x 1.62x - - 1.59x 0.87x 0.77x
EV / Revenue 4.96x 1.54x 1.62x - - 1.57x 0.76x 0.67x
EV / EBITDA -105x -141x 23.4x - - 9.93x 3.8x 3.66x
EV / EBIT -62.8x -31.8x 38.1x - - 12.1x 4.15x 4.05x
EV / FCF -26.4x -8.43x - - - 15.4x 12.1x 34.3x
FCF Yield -3.78% -11.9% - - - 6.48% 8.24% 2.92%
Dividend per Share 3 - - - - - 150 250 400
Rate of return - - - - - 0.99% 1.64% 2.63%
EPS 3 -295 -262 332 -1,301 -1,022 879 2,181 2,226
Distribution rate - - - - - 17.1% 11.5% 18%
Net sales 1 114.6 123.8 167.8 - - 194.7 356.9 400.2
EBITDA 1 -5.4 -1.35 11.63 - - 30.8 71.3 73.2
EBIT 1 -9.05 -5.992 7.143 - - 25.3 65.2 66
Net income 1 -5.988 -6.905 6.75 -26.46 -20.79 20.1 49.8 50.8
Net Debt 1 -34.47 -22.98 - - - -3.3 -38.4 -41.5
Reference price 3 29,650.00 10,500.00 13,390.00 8,790.00 13,580.00 15,200.00 15,200.00 15,200.00
Nbr of stocks (in thousands) 20,333 20,333 20,333 20,333 20,333 20,333 - -
Announcement Date 09/02/22 13/02/23 15/03/24 20/03/25 19/03/26 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.29x1.57x9.93x - 23Cr
42.85x14.48x32.87x0.55% 71TCr
36.96x12.32x30.28x0.33% 43TCr
40.97x12.44x35.96x0.36% 43TCr
38.45x15.05x31.22x0.46% 27TCr
41.4x15.54x30.21x0.23% 18TCr
35.11x7.94x24.19x1.38% 17TCr
37.95x4.08x18.82x1.36% 9.84TCr
50.58x13.49x38.04x0.12% 7.02TCr
59.72x8.86x47.16x0.15% 6.67TCr
Average 40.13x 10.58x 29.87x 0.55% 24.35TCr
Weighted average by Cap. 40.80x 12.80x 31.92x 0.51%

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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