נראה כי אירעה שגיאה במהלך טעינת העמוד הזה.
הצוות שלנו קיבל דיווח על כך, אבל אם הבעיה נמשכת, אנא צרו קשר באמצעות יישומון תמיכה במייל
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBITDA Multiple | 20.8x - 23.0x | 21.9x |
| Selected Fwd EBITDA Multiple | 14.3x - 15.8x | 15.1x |
| Fair Value | NT$ 124.10 - NT$ 135.91 | NT$ 130.01 |
| Upside | 19.9% - 31.3% | 25.6% |
| Benchmarks | Ticker | Full Ticker |
| WIN Semiconductors Corp. | 3105 | TPEX:3105 |
| RichWave Technology Corporation | 4968 | TWSE:4968 |
| Vanguard International Semiconductor Corporation | 5347 | TPEX:5347 |
| Taiwan Semiconductor Manufacturing Company Limited | 2330 | TWSE:2330 |
| United Microelectronics Corporation | 2303 | TWSE:2303 |
| Advanced Wireless Semiconductor Company | 8086 | TPEX:8086 |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| 3105 | 4968 | 5347 | 2330 | 2303 | 8086 | ||
| TPEX:3105 | TWSE:4968 | TPEX:5347 | TWSE:2330 | TWSE:2303 | TPEX:8086 | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | -9.6% | -9.9% | 11.7% | 24.6% | 13.0% | 11.3% | |
| 3Y CAGR | -19.7% | -34.5% | -4.8% | 22.9% | -0.4% | -4.0% | |
| Latest Twelve Months | -30.7% | 58.8% | 13.4% | 38.7% | 3.4% | -18.8% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 33.0% | 5.0% | 37.6% | 67.8% | 44.6% | 25.1% | |
| Prior Fiscal Year | 27.8% | -7.2% | 34.7% | 66.8% | 43.0% | 23.7% | |
| Latest Fiscal Year | 30.6% | 4.5% | 34.8% | 68.3% | 41.9% | 26.2% | |
| Latest Twelve Months | 26.7% | 6.6% | 33.8% | 68.4% | 41.6% | 30.4% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 3.06x | 3.22x | 3.18x | 9.82x | 2.01x | 4.97x | |
| EV / LTM EBITDA | 11.4x | 48.5x | 9.4x | 14.4x | 4.8x | 16.4x | |
| EV / LTM EBIT | 1124.8x | 73.0x | 19.2x | 19.8x | 10.9x | 42.3x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | 4.8x | 11.4x | 48.5x | ||||
| Historical EV / LTM EBITDA | 15.1x | 20.2x | 62.5x | ||||
| Selected EV / LTM EBITDA | 20.8x | 21.9x | 23.0x | ||||
| (x) LTM EBITDA | 1,100 | 1,100 | 1,100 | ||||
| (=) Implied Enterprise Value | 22,882 | 24,086 | 25,290 | ||||
| (-) Non-shareholder Claims * | 2,326 | 2,326 | 2,326 | ||||
| (=) Equity Value | 25,207 | 26,412 | 27,616 | ||||
| (/) Shares Outstanding | 196.5 | 196.5 | 196.5 | ||||
| Implied Value Range | 128.27 | 134.40 | 140.53 | ||||
| FX Rate: TWD/TWD | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 128.27 | 134.40 | 140.53 | 103.50 | |||
| Upside / (Downside) | 23.9% | 29.9% | 35.8% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 3105 | 4968 | 5347 | 2330 | 2303 | 8086 | |
| Enterprise Value | 47,576 | 11,930 | 151,425 | 35,509,179 | 473,864 | 18,014 | |
| (+) Cash & Short Term Investments | 6,056 | 1,158 | 49,775 | 2,751,036 | 119,040 | 3,642 | |
| (+) Investments & Other | 20,289 | 0 | 8,634 | 148,978 | 72,264 | 0 | |
| (-) Debt | (12,815) | (84) | (30,207) | (1,029,087) | (89,997) | (1,317) | |
| (-) Other Liabilities | (481) | 0 | (10,628) | (37,271) | (140) | 0 | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 60,623 | 13,003 | 168,999 | 37,342,835 | 575,032 | 20,339 | |
| (/) Shares Outstanding | 423.9 | 91.9 | 1,867.4 | 25,932.5 | 12,555.3 | 196.5 | |
| Implied Stock Price | 143.00 | 141.50 | 90.50 | 1,440.00 | 45.80 | 103.50 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 143.00 | 141.50 | 90.50 | 1,440.00 | 45.80 | 103.50 | |
| 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 | |