Changhae Ethanol Ratios and Metrics

Market cap in millions KRW. Fiscal year is January - December.

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 8, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	82,475	74,508	68,210	73,673	81,564	100,153
Market Cap Growth	22.27%	9.23%	-7.41%	-9.67%	-18.56%	-2.22%
Enterprise Value	112,928	100,021	100,694	108,001	122,868	140,813
Last Close Price	10870.00	9820.00	8467.83	8561.60	8899.46	10460.71
PE Ratio	6.21	5.62	5.45	-	1051.58	10.18
Forward PE	-	8.56	8.56	8.56	8.56	8.56
PS Ratio	0.67	0.61	0.50	0.63	0.75	1.03
PB Ratio	0.57	0.51	0.50	0.57	0.60	0.73
P/TBV Ratio	0.87	0.78	0.80	0.95	0.96	1.20
P/FCF Ratio	5.66	5.12	6.59	13.81	54.72	9.51
P/OCF Ratio	4.06	3.66	4.48	8.99	26.18	7.84
PEG Ratio	-	1.39	1.39	1.39	1.39	1.39
EV/Sales Ratio	0.92	0.82	0.73	0.93	1.12	1.45
EV/EBITDA Ratio	5.26	4.85	4.60	5.82	9.09	7.58
EV/EBIT Ratio	6.75	6.29	5.79	7.41	12.58	9.45
EV/FCF Ratio	7.75	6.87	9.72	20.24	82.43	13.37
Debt / Equity Ratio	0.23	0.23	0.32	0.36	0.34	0.31
Debt / EBITDA Ratio	1.64	1.64	1.99	2.47	3.40	2.31
Debt / FCF Ratio	2.33	2.33	4.21	8.59	30.83	4.07
Net Debt / Equity Ratio	0.19	0.19	0.27	0.32	0.31	0.28
Net Debt / EBITDA Ratio	1.32	1.32	1.70	2.24	3.12	2.04
Net Debt / FCF Ratio	1.87	1.87	3.59	7.78	28.31	3.60
Asset Turnover	0.64	0.64	0.72	0.60	0.57	0.50
Inventory Turnover	4.29	4.29	4.26	3.47	4.53	4.77
Quick Ratio	0.69	0.69	0.63	0.48	0.49	0.59
Current Ratio	1.33	1.33	1.36	1.18	1.10	1.06
Return on Equity (ROE)	9.28%	9.28%	9.40%	-2.78%	0.22%	7.42%
Return on Assets (ROA)	5.17%	5.17%	5.69%	4.72%	3.17%	4.83%
Return on Invested Capital (ROIC)	7.70%	7.50%	8.12%	8.40%	0.60%	6.31%
Return on Capital Employed (ROCE)	10.90%	10.90%	12.30%	11.20%	7.10%	10.60%
Earnings Yield	16.09%	17.81%	18.35%	-5.21%	0.10%	9.83%
FCF Yield	17.66%	19.55%	15.18%	7.24%	1.83%	10.52%
Payout Ratio	34.31%	34.31%	36.37%	-	5869.28%	46.26%
Buyback Yield / Dilution	0.02%	0.02%	0.01%	-	-	0.48%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.