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D'Alba Global IPO Valuation Analysis

D'Alba Global IPO Valuation Analysis

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Douglas Kim
Mar 27, 2025
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Douglas Research Insights
Douglas Research Insights
D'Alba Global IPO Valuation Analysis
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  • Our base case valuation is based on a P/E of 21.9x (40% premium to the comps) our estimated net profit of 58.9 billion won in 2025.

  • We believe d'Alba Global should trade at a premium valuation to the comps due to higher sales and operating profit growth, higher ROE and operating margins than the comps.

  • Our base case valuation of d'Alba Global target price of 101,609 won per share, which represents 53% higher than the high end of the IPO valuation range.

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