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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 0.4x - 0.5x | 0.5x |
Selected Fwd Ps Multiple | 0.4x - 0.5x | 0.4x |
Fair Value | NT$ 26.10 - NT$ 28.85 | NT$ 27.48 |
Upside | 4.4% - 15.4% | 9.9% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
WPG Holdings Limited | 370,200.0% | TWSE:3702 |
Lelon Electronics Corp. | 247,200.0% | TWSE:2472 |
Taiwan Chinsan Electronic Industrial Co., Ltd. | 804,200.0% | TPEX:8042 |
Holy Stone Enterprise Co.,Ltd. | 302,600.0% | TWSE:3026 |
Nichidenbo Corporation | 309,000.0% | TWSE:3090 |
Honey Hope Honesty Enterprise Co.,Ltd | 804,300.0% | TPEX:8043 |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
3702 | 2472 | 8042 | 3026 | 3090 | 8043 | |||
TWSE:3702 | TWSE:2472 | TPEX:8042 | TWSE:3026 | TWSE:3090 | TPEX:8043 | |||
Historical Sales Growth | ||||||||
5Y CAGR | 10.8% | 8.3% | -1.7% | -2.6% | 6.6% | -2.7% | ||
3Y CAGR | 4.2% | 1.7% | -7.3% | -8.3% | 5.4% | -8.7% | ||
Latest Twelve Months | 30.2% | 17.0% | 8.9% | 5.7% | 27.4% | 6.0% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 1.2% | 14.8% | 2.4% | 7.6% | 9.0% | 1.4% | ||
Prior Fiscal Year | 1.1% | 10.3% | 2.9% | 6.4% | 6.6% | -0.4% | ||
Latest Fiscal Year | 0.8% | 11.0% | 2.3% | 7.6% | 7.8% | 2.6% | ||
Latest Twelve Months | 0.7% | 9.7% | 1.0% | 7.8% | 6.5% | -0.9% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 13.1x | 5.4x | 13.9x | 6.6x | 10.1x | -317.0x | ||
Price / LTM Sales | 0.1x | 1.3x | 1.2x | 1.0x | 1.0x | 0.4x | ||
LTM P/E Ratio | 15.3x | 12.9x | 112.8x | 13.0x | 15.5x | -45.3x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 0.1x | 1.0x | 1.3x | |||||
Historical LTM P/S Ratio | 0.3x | 0.4x | 0.6x | |||||
Selected Price / Sales Multiple | 0.4x | 0.5x | 0.5x | |||||
(x) LTM Sales | 4,864 | 4,864 | 4,864 | |||||
(=) Equity Value | 2,187 | 2,302 | 2,417 | |||||
(/) Shares Outstanding | 79.9 | 79.9 | 79.9 | |||||
Implied Value Range | 27.37 | 28.81 | 30.25 | |||||
FX Rate: TWD/TWD | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 27.37 | 28.81 | 30.25 | 25.00 | ||||
Upside / (Downside) | 9.5% | 15.3% | 21.0% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 3702 | 2472 | 8042 | 3026 | 3090 | 8043 | |
Value of Common Equity | 112,161 | 14,002 | 4,233 | 13,785 | 14,690 | 1,998 | |
(/) Shares Outstanding | 1,679.1 | 164.7 | 129.5 | 165.9 | 212.6 | 79.9 | |
Implied Stock Price | 66.80 | 85.00 | 32.70 | 83.10 | 69.10 | 25.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 66.80 | 85.00 | 32.70 | 83.10 | 69.10 | 25.00 | |
Trading Currency | TWD | TWD | TWD | TWD | TWD | TWD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |