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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Pb Multiple | 1.5x - 1.6x | 1.5x |
Historical Pb Multiple | 1.3x - 2.5x | 1.6x |
Fair Value | NT$ 23.35 - NT$ 25.81 | NT$ 24.58 |
Upside | -25.0% - -17.2% | -21.1% |
Benchmarks | - | Full Ticker |
Silicon Power Computer & Communications Inc. | 497,300.0% | TPEX:4973 |
Innodisk Corporation | 528,900.0% | TPEX:5289 |
Transcend Information, Inc. | 245,100.0% | TWSE:2451 |
Auras Technology Co., Ltd. | 332,400.0% | TPEX:3324 |
Lintes Technology Co., Ltd. | 671,500.0% | TWSE:6715 |
Panram International Corp. | 808,800.0% | TPEX:8088 |
Select Price / Book Ratio | ||||||||
Benchmark Companies | ||||||||
4973 | 5289 | 2451 | 3324 | 6715 | 8088 | |||
TPEX:4973 | TPEX:5289 | TWSE:2451 | TPEX:3324 | TWSE:6715 | TPEX:8088 | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 3.5% | 1.8% | 6.0% | 14.4% | 17.1% | -41.3% | ||
3Y CAGR | 71.3% | -10.8% | -3.0% | 18.7% | 25.4% | -53.5% | ||
Latest Twelve Months | -109.2% | -19.2% | -44.8% | -12.0% | -47.4% | -62.5% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 2.6% | 14.5% | 17.9% | 9.7% | 12.8% | 6.6% | ||
Prior Fiscal Year | 4.4% | 13.8% | 18.9% | 9.7% | 16.2% | 10.5% | ||
Latest Fiscal Year | 2.6% | 12.4% | 23.0% | 12.0% | 15.3% | 0.9% | ||
Latest Twelve Months | -0.6% | 9.6% | 14.1% | 8.5% | 10.5% | 1.8% | ||
Return on Equity | ||||||||
5 Year Average Margin | 5.5% | 21.7% | 11.2% | 24.5% | 15.1% | 10.7% | ||
Prior Fiscal Year | 9.3% | 16.3% | 10.2% | 20.2% | 14.2% | 13.7% | ||
Latest Twelve Months | -1.1% | 14.0% | 8.6% | 19.2% | 6.4% | 2.2% | ||
Next Fiscal Year | 5.6% | 16.5% | 10.6% | 22.9% | 14.1% | -0.9% | ||
Two Fiscal Years Forward | 5.4% | 16.9% | 10.6% | 30.6% | 16.2% | -1.1% | ||
Current Trading Multiples | ||||||||
Price / LTM Sales | 0.4x | 2.2x | 3.7x | 3.4x | 3.5x | 1.6x | ||
Price / LTM EPS | -66.1x | 22.6x | 26.4x | 40.5x | 33.3x | 88.6x | ||
Price / Book | 0.8x | 3.1x | 2.3x | 7.4x | 2.2x | 1.9x | ||
Price / Fwd Book | 0.7x | 2.9x | 2.1x | 6.0x | 1.9x | 2.2x | ||
Low | Mid | High | ||||||
Benchmark P/B Ratio | 0.8x | 2.3x | 7.4x | |||||
Historical P/B Ratio | 1.3x | 1.6x | 2.5x | |||||
Selected P/B Multiple | 1.5x | 1.5x | 1.6x | |||||
(x) Book Value | 980 | 980 | 980 |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 4973 | 5289 | 2451 | 3324 | 6715 | 8088 | |
Value of Common Equity | 1,592 | 22,544 | 42,295 | 63,282 | 7,301 | 1,898 | |
(/) Shares Outstanding | 65.4 | 91.6 | 430.7 | 90.3 | 66.4 | 60.9 | |
Implied Stock Price | 24.35 | 246.00 | 98.20 | 701.00 | 110.00 | 31.15 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 24.35 | 246.00 | 98.20 | 701.00 | 110.00 | 31.15 | |
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 |