Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBITDA Multiple | 10.1x - 11.2x | 10.7x |
| Selected Fwd EBITDA Multiple | 9.4x - 10.4x | 9.9x |
| Fair Value | NT$ 92.22 - NT$ 100.67 | NT$ 96.45 |
| Upside | -35.3% - -29.4% | -32.3% |
| Benchmarks | Ticker | Full Ticker |
| North-Star International Co., LTD. | 8927 | TPEX:8927 |
| Wonder Pets Enterprises Corporation | 6968 | TPEX:6968 |
| Shan-Loong Transportation Co.,Ltd | 2616 | TWSE:2616 |
| Hotai Motor Co.,Ltd. | 2207 | TWSE:2207 |
| Scan-D Corporation | 6195 | TPEX:6195 |
| Formosa Optical Technology Co.,Ltd. | 5312 | TPEX:5312 |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| 8927 | 6968 | 2616 | 2207 | 6195 | 5312 | ||
| TPEX:8927 | TPEX:6968 | TWSE:2616 | TWSE:2207 | TPEX:6195 | TPEX:5312 | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | 69.4% | NM- | NM- | 11.7% | -3.7% | 12.3% | |
| 3Y CAGR | 148.8% | 12.4% | NM- | 9.3% | -25.0% | 35.8% | |
| Latest Twelve Months | 192.5% | 8.7% | -326.7% | 1.1% | -26.6% | 3.5% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 5.6% | 6.5% | 2.2% | 12.5% | 11.0% | 9.9% | |
| Prior Fiscal Year | 6.9% | 6.5% | 1.3% | 17.0% | 7.5% | 12.6% | |
| Latest Fiscal Year | 16.3% | 5.8% | -2.4% | 16.9% | 6.2% | 12.7% | |
| Latest Twelve Months | 15.9% | 6.2% | -4.9% | 16.8% | 5.9% | 12.4% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 3.24x | 1.29x | 0.38x | 2.10x | 1.31x | 1.93x | |
| EV / LTM EBITDA | 20.4x | 20.9x | -7.7x | 12.5x | 22.4x | 15.5x | |
| EV / LTM EBIT | 26.9x | 34.0x | -4.7x | 17.5x | 29.4x | 24.1x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | -7.7x | 20.4x | 22.4x | ||||
| Historical EV / LTM EBITDA | -24.9x | 6.1x | 12.6x | ||||
| Selected EV / LTM EBITDA | 10.1x | 10.7x | 11.2x | ||||
| (x) LTM EBITDA | 491 | 491 | 491 | ||||
| (=) Implied Enterprise Value | 4,977 | 5,239 | 5,501 | ||||
| (-) Non-shareholder Claims * | 716 | 716 | 716 | ||||
| (=) Equity Value | 5,693 | 5,955 | 6,217 | ||||
| (/) Shares Outstanding | 60.1 | 60.1 | 60.1 | ||||
| Implied Value Range | 94.79 | 99.15 | 103.51 | ||||
| FX Rate: TWD/TWD | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 94.79 | 99.15 | 103.51 | 142.50 | |||
| Upside / (Downside) | -33.5% | -30.4% | -27.4% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 8927 | 6968 | 2616 | 2207 | 6195 | 5312 | |
| Enterprise Value | 42,509 | 3,833 | 3,544 | 592,187 | 2,976 | 7,842 | |
| (+) Cash & Short Term Investments | 1,277 | 208 | 910 | 34,532 | 189 | 2,934 | |
| (+) Investments & Other | 463 | 90 | 1,520 | 36,053 | 0 | 611 | |
| (-) Debt | (22,683) | (1,439) | (3,681) | (308,592) | (1,756) | (2,823) | |
| (-) Other Liabilities | (3,064) | (0) | (214) | (35,518) | (4) | (6) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 18,503 | 2,692 | 2,080 | 318,663 | 1,405 | 8,559 | |
| (/) Shares Outstanding | 369.3 | 43.6 | 135.9 | 557.1 | 50.2 | 60.1 | |
| Implied Stock Price | 50.10 | 61.70 | 15.30 | 572.00 | 28.00 | 142.50 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 50.10 | 61.70 | 15.30 | 572.00 | 28.00 | 142.50 | |
| 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 | |