U.I.Display

069330 · KOSDAQ · ₩069330 · 유아이디

₩1,176▲ ₩20 (1.73%)End-of-day · Oct 28, 2026 · End-of-day prices.
Trade
Alert me

Valuation model · Discounted cash flow (DCF)

We use a 5-year discounted cash flow: the value of the cash the business is expected to produce, in today's money.

Fair value per share

₩1,266

vs the current price (₩1,176)

Enterprise value
₩28B
Equity value
₩21B
WACC
6.6%

Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal. This is not financial advice.

Bear / Base / Bull

Bear
₩244
−79.3%
Base
₩1,266
+7.6%
Bull
₩3,186
+170.9%

Bear: revenue growth 3 points lower every year, EBIT margin 2 points lower, WACC 1 point higher. Bull: the opposite.

Assumptions

Sign in to change the assumptions and see the results update. Sign in

Cycle options

Margin path

Every year uses the cycle-average margin (4.3%).

Revenue growth

  • -7.4%

    How much sales grow that year, compared with the year before.

    Default: the last 3 years' revenue growth (-7.4% a year, annual reports), fading to 3% by year 5.

  • -4.8%

    How much sales grow that year, compared with the year before.

    Default: the last 3 years' revenue growth (-7.4% a year, annual reports), fading to 3% by year 5.

  • -2.2%

    How much sales grow that year, compared with the year before.

    Default: the last 3 years' revenue growth (-7.4% a year, annual reports), fading to 3% by year 5.

  • 0.4%

    How much sales grow that year, compared with the year before.

    Default: the last 3 years' revenue growth (-7.4% a year, annual reports), fading to 3% by year 5.

  • 3%

    How much sales grow that year, compared with the year before.

    Default: the last 3 years' revenue growth (-7.4% a year, annual reports), fading to 3% by year 5.

Business

  • 4.3%

    Operating profit as a share of revenue.

    Default: through-the-cycle average of the last 12 months and the last 5 annual reports' operating margins.

  • 27.5%

    Share of operating profit paid as corporate tax.

    Default: Korea's top corporate tax rate (25%) plus 10% local income tax.

  • 0.6%

    The non-cash cost of wearing out equipment, added back to cash flow (% of revenue).

    Default: not in the statements, so 80% of capital spending (most spending replaces equipment that wears out).

  • 0.8%

    Money spent on factories, equipment, software and other long-term assets (% of revenue).

    Default: average of the last 3 annual reports (cash flow statements; equipment and intangibles).

  • 4.9%

    Stock and unpaid customer bills, less unpaid supplier bills, as a % of revenue. Each year's extra revenue ties up this much more cash.

    Default: working capital (current assets less cash and deposits, minus current liabilities other than borrowings) as a share of revenue, averaged over the last 3 years.

Discount rate

  • 2%

    How fast cash flows keep growing every year after year 5.

    Default: about Korea's long-run inflation plus real growth.

  • 4.08%

    Yield on Korea's 10-year government bond: the return with almost no risk.

    Default: Korea Treasury Bond 10-year yield on 2026-10-29.

  • 0.6

    How much the share moves when the market moves: 1 means just like the market.

    Default: 105 weeks of weekly returns against KOSPI (official index); raw beta 0.1, adjusted toward 1 and kept between 0.6 and 2.0.

  • 5.5%

    The extra return investors want for owning shares instead of bonds.

    Default: a typical premium for Korean shares.

  • 5.58%

    The interest rate the company would pay to borrow.

    Default: the 10-year yield plus a 1.5% credit spread.

Starting point

Revenue (TTM to H1 2026)
₩52B
Net debt (borrowings and leases − cash and deposits)
₩5.8B
− Minority interests
₩714M
Shares
16,952,574
Share price
₩1,176
Market cap
₩20B

TTM = trailing 12 months: the last four reported quarters added together. "TTM to H1 2026" is the 12 months up to the latest quarterly or half-year report (H1 = to the end of June). Year 1 grows from there.

Past years and projection

Grey columns are reported results from the annual reports (after-tax EBIT at the model's tax rate), so you can check the growth and margin assumptions against the past. Years 1–5 are the model.

FY2023FY2024FY2025Year 1Year 2Year 3Year 4Year 5
Revenue₩53B₩54B₩50B₩48B₩46B₩45B₩45B₩47B
Growth−15.2%1.1%−7.2%−7.4%−4.8%−2.2%0.4%3.0%
EBIT−₩325M₩244M₩1.3B₩2.1B₩2B₩1.9B₩1.9B₩2B
EBIT margin−0.6%0.5%2.6%4.3%4.3%4.3%4.3%4.3%
After-tax EBIT−₩236M₩177M₩944M₩1.5B₩1.4B₩1.4B₩1.4B₩1.5B
+ Depreciation———₩291M₩277M₩271M₩272M₩280M
− Capital spending₩646M₩437M₩175M₩388M₩369M₩361M₩363M₩373M
− Working capital₩698M₩792M−₩2.1B−₩190M−₩114M−₩50M₩8.8M₩67M
Free cash flow———₩1.6B₩1.5B₩1.4B₩1.3B₩1.3B
Discount factor———0.9380.8790.8250.7730.725
Present value———₩1.5B₩1.3B₩1.1B₩1B₩940M

Terminal value ₩30B, worth ₩22B today: 79% of enterprise value. It assumes spending settles at 110% of depreciation once growth slows to the terminal rate.

Cross-check: what the market has paid before

For cyclical businesses, analysts check a DCF against the multiples the stock has traded at through past cycles. Price / book is the usual anchor for them: P/E looks highest at the bottom of a cycle, when earnings are smallest, and lowest at the top. The price each band would give today:

LowTypicalHigh
Price / book (book value ₩1,438 a share)Now 0.82×₩1,2140.84×₩1,7471.21×₩3,9002.71×
Price / earnings (last 12 months: ₩295 a share)Now 3.98×₩1,1693.96×₩2,6859.09×₩10,61435.9×

Low, typical and high are the 10th percentile, middle and 90th percentile of month-end multiples since 2021, each against the latest report out by then, per share at today's share count; loss years and P/E above 100 are left out. Run-rate earnings are one quarter × 4, not a forecast. Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal.

Sensitivity

Fair value per share as two inputs change; the middle is the current case.

WACC ↓ · Terminal growth →1.0%1.5%2.0%2.5%3.0%
5.6%₩1,347₩1,508₩1,713₩1,984₩2,357
6.1%₩1,180₩1,306₩1,462₩1,662₩1,925
6.6%₩1,042₩1,143₩1,266₩1,418₩1,612
7.1%₩927₩1,009₩1,108₩1,227₩1,375
7.6%₩829₩897₩977₩1,073₩1,189

Now (TTM)

Market cap
₩20B
Enterprise value
₩25B
P/E
4.0×
P/B
0.8×
P/S
0.4×
EV/EBITDA
—
Dividend yield
0.0%

Over time (at each year end)

20252024202320222021
Price₩1,133₩1,279₩1,610₩1,720₩2,660
Market cap₩19B₩22B₩27B₩29B₩45B
P/E14.9×32.8×—7.7×8.9×
P/B0.9×1.1×1.5×1.3×2.7×
P/S0.4×0.4×0.5×0.5×0.6×
EV/EBITDA—————
Dividend yield0.0%————

Versus similar companies

CompanyP/EP/BP/SEV/EBITDADividend yield
U.I.Display4.0×0.8×0.4×—0.0%
Samsung Electro-Mechanics96.8×9.5×7.8×—0.2%
Doosan39.2×5.5×0.7×—0.4%
Hanwha Systems71.2×2.8×3.0×—0.8%
LG Innotek13.1×1.4×0.4×—0.5%
Isupetasys35.4×8.3×5.4×—0.0%
Daeduck Electronics44.8×7.0×5.0×—0.4%
Similar companies (median)42.0×6.3×4.0×—0.4%

Calculated from end-of-day prices and filed financial statements. Not a recommendation. This is not financial advice.

Also known as: U.I.Display / 유아이디 / 069330 / KRX:069330

Source: KRX statistical information