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| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM P/E Multiple | 13.1x - 14.5x | 13.8x |
| Selected Fwd P/E Multiple | 11.0x - 12.1x | 11.5x |
| Fair Value | NT$ 110.09 - NT$ 121.68 | NT$ 115.88 |
| Upside | 19.0% - 31.5% | 25.3% |
| Benchmarks | - | Full Ticker |
| King Core Electronics Inc. | 615,500.0% | TWSE:6155 |
| Arlitech Electronic Corp. | 643,200.0% | TPEX:6432 |
| ABC Taiwan Electronics Corp. | 323,600.0% | TPEX:3236 |
| Delta Electronics, Inc. | 230,800.0% | TWSE:2308 |
| Thinking Electronic Industrial Co., Ltd. | 242,800.0% | TWSE:2428 |
| TAI-TECH Advanced Electronics Co., Ltd. | 335,700.0% | TPEX:3357 |
| - | - | - |
| Select Price / LTM EPS Ratio | ||||||||
| Benchmark Companies | ||||||||
| 6155 | 6432 | 3236 | 2308 | 2428 | 3357 | |||
| TWSE:6155 | TPEX:6432 | TPEX:3236 | TWSE:2308 | TWSE:2428 | TPEX:3357 | |||
| Historical Net Income Growth | ||||||||
| 5Y CAGR | 1.1% | 0.2% | -36.5% | 8.8% | 6.8% | 11.2% | ||
| 3Y CAGR | 1.6% | -15.7% | -63.9% | 9.5% | -0.6% | -14.5% | ||
| Latest Twelve Months | 14.7% | 10.0% | 282.3% | 23.1% | 19.1% | 47.8% | ||
| Historical Net Income Profit Margin | ||||||||
| 5 Year Average Margin | 13.8% | 5.2% | 3.2% | 9.5% | 20.4% | 16.5% | ||
| Prior Fiscal Year | 13.7% | 3.4% | 1.9% | 8.3% | 18.5% | 13.4% | ||
| Latest Fiscal Year | 14.9% | 5.2% | 0.2% | 8.4% | 20.6% | 13.6% | ||
| Latest Twelve Months | 15.6% | 4.8% | 1.1% | 8.8% | 20.3% | 14.1% | ||
| Current Trading Multiples | ||||||||
| EV / LTM EBITDA | 24.6x | 8.5x | 11.0x | 15.7x | 5.5x | 6.6x | ||
| Price / LTM Sales | 3.4x | 0.8x | 0.9x | 2.8x | 2.2x | 1.6x | ||
| LTM P/E Ratio | 21.6x | 17.0x | 85.1x | 31.6x | 10.8x | 11.5x | ||
| Low | Mid | High | ||||||
| Benchmark LTM P/E Ratio | 10.8x | 21.6x | 85.1x | |||||
| Historical LTM P/E Ratio | 7.0x | 12.3x | 20.1x | |||||
| Selected P/E Multiple | 13.1x | 13.8x | 14.5x | |||||
| (x) LTM Net Income | 828 | 828 | 828 | |||||
| (=) Equity Value | 10,890 | 11,463 | 12,036 | |||||
| (/) Shares Outstanding | 102.0 | 102.0 | 102.0 | |||||
| Implied Value Range | 106.72 | 112.34 | 117.96 | |||||
| FX Rate: TWD/TWD | 1.0 | 1.0 | 1.0 | Market Price | ||||
| Implied Value Range (Trading Cur) | 106.72 | 112.34 | 117.96 | 92.50 | ||||
| Upside / (Downside) | 15.4% | 21.5% | 27.5% | |||||
| Equity Value | |||||||
| Benchmark Companies | |||||||
| (in millions) | 6155 | 6432 | 3236 | 2308 | 2428 | 3357 | |
| Value of Common Equity | 2,011 | 871 | 1,685 | 1,228,638 | 17,039 | 9,438 | |
| (/) Shares Outstanding | 87.8 | 32.2 | 105.0 | 2,597.5 | 128.1 | 102.0 | |
| Implied Stock Price | 22.90 | 27.00 | 16.05 | 473.00 | 133.00 | 92.50 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 22.90 | 27.00 | 16.05 | 473.00 | 133.00 | 92.50 | |
| 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 | |