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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 6.5x - 7.2x | 6.9x |
Selected Fwd Ps Multiple | 7.2x - 8.0x | 7.6x |
Fair Value | NT$ 25.65 - NT$ 28.35 | NT$ 27 |
Upside | -7.4% - 2.4% | -2.5% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Nan Liu Enterprise Co., Ltd. | 650,400.0% | TWSE:6504 |
Shinih Enterprise Co., Ltd. | 994,400.0% | TWSE:9944 |
Mytrex Health Technologies, Inc. | 443,100.0% | TPEX:4431 |
Quang Viet Enterprise Co., Ltd. | 443,800.0% | TWSE:4438 |
WW Holding Inc. | 844,200.0% | TWSE:8442 |
Universal Incorporation | 132,500.0% | TWSE:1325 |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
6504 | 9944 | 4431 | 4438 | 8442 | 1325 | |||
TWSE:6504 | TWSE:9944 | TPEX:4431 | TWSE:4438 | TWSE:8442 | TWSE:1325 | |||
Historical Sales Growth | ||||||||
5Y CAGR | 0.5% | -4.1% | 34.6% | 0.3% | 5.2% | -16.3% | ||
3Y CAGR | -0.3% | -4.0% | 82.0% | 8.2% | 15.6% | -35.6% | ||
Latest Twelve Months | 8.7% | 9.4% | 36.0% | -0.5% | 5.3% | -21.8% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 5.0% | 8.6% | 6.0% | 5.5% | 4.1% | 16.0% | ||
Prior Fiscal Year | 1.9% | 7.5% | -4.3% | 4.4% | 7.8% | 4.4% | ||
Latest Fiscal Year | 1.5% | 0.2% | -4.7% | 2.4% | 8.9% | -16.2% | ||
Latest Twelve Months | 1.5% | 0.2% | -4.7% | 2.4% | 8.9% | -16.2% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 11.3x | 5.0x | -194.9x | 10.3x | 6.3x | -38.2x | ||
Price / LTM Sales | 0.6x | 0.8x | 0.4x | 0.5x | 0.7x | 7.4x | ||
LTM P/E Ratio | 40.1x | 338.4x | -7.7x | 20.8x | 7.3x | -45.7x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 0.4x | 0.6x | 0.8x | |||||
Historical LTM P/S Ratio | 1.8x | 3.9x | 7.9x | |||||
Selected Price / Sales Multiple | 6.5x | 6.9x | 7.2x | |||||
(x) LTM Sales | 317 | 317 | 317 | |||||
(=) Equity Value | 2,077 | 2,186 | 2,296 | |||||
(/) Shares Outstanding | 85.3 | 85.3 | 85.3 | |||||
Implied Value Range | 24.36 | 25.64 | 26.92 | |||||
FX Rate: TWD/TWD | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 24.36 | 25.64 | 26.92 | 27.70 | ||||
Upside / (Downside) | -12.1% | -7.4% | -2.8% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 6504 | 9944 | 4431 | 4438 | 8442 | 1325 | |
Value of Common Equity | 4,102 | 1,779 | 667 | 8,181 | 5,449 | 2,362 | |
(/) Shares Outstanding | 72.6 | 105.9 | 36.5 | 103.4 | 67.3 | 85.3 | |
Implied Stock Price | 56.50 | 16.80 | 18.25 | 79.10 | 81.00 | 27.70 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 56.50 | 16.80 | 18.25 | 79.10 | 81.00 | 27.70 | |
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 |