º»¹®/³»¿ë
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Overview ±â¾÷, »ê¾÷ ºÐ¼®
Investment Point ÅõÀÚ Æ÷ÀÎÆ®
Valuation °¡Ä¡ Æò°¡
INDEX
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Overview
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Fitting (ÇÇÆÃ)
ÇÇÆÃ
¿ëÁ¢¿ë
°èÀå¿ë
ÇÏÀÌ·Ï ÄÚ¸®¾Æ
ÁÖ¹è°ü
Á¶Àý ¹è°ü
ÁÖ¹è°ü
Á¶Àý ¹è°ü
Overview
Investment
Point 1
Investment
Point 2
Valuation
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Overview
Investment
Point 1
Investment
Point 2
Valuation
Valve (¹ëºê)
º§ºê
ÄÛ
³ªºñÇü
½ºÅé
½½·ç½º
¿ª·ù¹æÁö
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Overview
Investment
Point 1
Investment
Point 2
Valuation
Àü¹æ»ê¾÷
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Value Chain
Ãâó: »ç¾÷º¸°í¼
Overview
Investment
Point 1
Investment
Point 2
Valuation
ÇÇÆÃ (11Á¾)
º§ºê (34Á¾)
»ý»êÁ¦Ç°
¼Ò¸ðǰ¡¦(»ý·«)
1. ½Ã½ºÅÛÀÎÁõ&´©Àû °Å·¡ ½ÇÀû
2. °ø±ÞÀÚ ½ÂÀÎ
3.99%
NOPLAT
34,645
39,624
45,698
52,704
60,784
(+) Dep. Expense
4,203
4,659
5,164
5,724
6,345
(-)Net working capital
3,979
4,536
5,172
5,896
6,721
(-)CAPEX
2,006
2,448
2,987
3,644
4,445
FCFF
32,861
37,298
42,704
48,888
55,962
PVIF
1
0.924
0.853
0.789
0.729
PV of FCFF
32,861
34,462
36,458
38,565
40,789
À繫Á¦Ç¥ ÃßÁ¤
Ãâó: SRS ¸®¼Ä¡ 4ÆÀ
Overview
Investment
Point 1
Investment
Point 2
Valuation
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PV of Forecasted FCFF
183,187
WACC
8.22%
PV of Terminal Value
570,028
ºÎäºñÀ²
24.75%
¿µ¾÷ÀÚ»êÀÇ °¡Ä¡
753,165
COD
3.99%
(-) ºÎäÀÇ °¡Ä¡
168,733
COE
9.91%
º¸ÅëÁÖÀÇ °¡Ä¡
584,432
¹« À§ÇèÀÚ»ê ¼öÀÍ·ü
3.64%
ÃßÁ¤ÁÖ´ç°¡Ä¡ (¿ø)
42,900
½ÃÀå ÇÁ¸®¹Ì¾ö
13.00%
ÇöÀçÁֽİ¡°Ý (¿ø)
26,500
Beta
0.67
»ó½Â¿©·Â
61.88%
¿µ±¸¼ºÀå·ü
1.00%
¸ñÇ¥°¡ Á¦½Ã
Ãâó: SRS ¸®¼Ä¡ 4ÆÀ
Overview
Investment
Point 1
Investment
Point 2
Valuation
_NOTES_1_
1
_NOTES_2_
ȸ鿡 º¸½Ã´Â ´ë·Î ¹ßÇ¥¼ø¼ ¿À¹öºä, ÅõÀÚÆ÷ÀÎÆ®, °¡Ä¡Æò°¡ ¼øÀ¸·Î ¹ßÇ¥¸¦ ÁøÇàÇϰڽÀ´Ï´Ù.
2
_NOTES_3_
¸ÕÀú ¿À¹öºäÀÔ´Ï´Ù.
3
_NOTES_4_
¸ÕÀú ÇÏÀÌ·ÏÄÚ¸®¾ÆÀÇ ÁÖ·ÂÁ¦Ç°Àº °èÀå¿ë ÇÇÆÃ,