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 | 19.1x - 21.1x | 20.1x |
| Selected Fwd EBITDA Multiple | 16.2x - 17.9x | 17.0x |
| Fair Value | NT$ 57.99 - NT$ 66.84 | NT$ 62.42 |
| Upside | -12.1% - 1.3% | -5.4% |
| Benchmarks | Ticker | Full Ticker |
| E-Life Corporation | 6281 | TWSE:6281 |
| Zhen Yu Hardware Co., Ltd. | 2947 | TPEX:2947 |
| Senao International Co.,Ltd. | 2450 | TWSE:2450 |
| Pan German Universal Motors Ltd. | 2247 | TWSE:2247 |
| H.H.Galaxy Co., Ltd. | 2949 | TPEX:2949 |
| Wonder Pets Enterprises Corporation | 6968 | TPEX:6968 |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| 6281 | 2947 | 2450 | 2247 | 2949 | 6968 | ||
| TWSE:6281 | TPEX:2947 | TWSE:2450 | TWSE:2247 | TPEX:2949 | TPEX:6968 | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | 2.5% | 4.0% | 4.7% | 14.7% | NM- | NM- | |
| 3Y CAGR | -6.2% | -4.2% | -7.5% | 8.8% | 4.6% | 12.4% | |
| Latest Twelve Months | -7.7% | 22.1% | -20.9% | 4.3% | -28.2% | 13.4% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 4.2% | 8.8% | 1.5% | 5.3% | 4.4% | 6.5% | |
| Prior Fiscal Year | 4.1% | 6.6% | 1.5% | 5.4% | 5.0% | 6.5% | |
| Latest Fiscal Year | 3.8% | 7.6% | 1.4% | 5.1% | 2.8% | 5.8% | |
| Latest Twelve Months | 3.8% | 7.8% | 1.2% | 5.1% | 2.8% | 6.4% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 0.42x | 1.43x | 0.17x | 0.44x | 0.44x | 1.37x | |
| EV / LTM EBITDA | 11.1x | 18.3x | 13.7x | 8.7x | 15.6x | 21.2x | |
| EV / LTM EBIT | 15.2x | 32.6x | 16.0x | 11.0x | 17.2x | 36.1x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | 8.7x | 13.7x | 18.3x | ||||
| Historical EV / LTM EBITDA | 22.8x | 26.1x | 29.4x | ||||
| Selected EV / LTM EBITDA | 19.1x | 20.1x | 21.1x | ||||
| (x) LTM EBITDA | 190 | 190 | 190 | ||||
| (=) Implied Enterprise Value | 3,622 | 3,813 | 4,003 | ||||
| (-) Non-shareholder Claims * | (1,138) | (1,138) | (1,138) | ||||
| (=) Equity Value | 2,484 | 2,675 | 2,866 | ||||
| (/) Shares Outstanding | 43.6 | 43.6 | 43.6 | ||||
| Implied Value Range | 56.94 | 61.31 | 65.68 | ||||
| FX Rate: TWD/TWD | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 56.94 | 61.31 | 65.68 | 66.00 | |||
| Upside / (Downside) | -13.7% | -7.1% | -0.5% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 6281 | 2947 | 2450 | 2247 | 2949 | 6968 | |
| Enterprise Value | 8,232 | 3,205 | 5,195 | 24,964 | 2,180 | 4,017 | |
| (+) Cash & Short Term Investments | 2,213 | 197 | 1,481 | 2,001 | 561 | 208 | |
| (+) Investments & Other | 55 | 0 | 2,063 | 30 | 0 | 90 | |
| (-) Debt | (3,319) | (1,664) | (634) | (3,226) | (490) | (1,436) | |
| (-) Other Liabilities | 0 | 0 | (9) | 0 | (137) | (0) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 7,180 | 1,738 | 8,096 | 23,769 | 2,115 | 2,880 | |
| (/) Shares Outstanding | 99.2 | 19.3 | 258.3 | 80.7 | 24.9 | 43.6 | |
| Implied Stock Price | 72.40 | 90.20 | 31.35 | 294.50 | 84.90 | 66.00 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 72.40 | 90.20 | 31.35 | 294.50 | 84.90 | 66.00 | |
| 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 | |