ARGOSY RESEARCH INC. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 161.5 TWD | +1.89% |
|
+4.53% | -5.83% |
| Mar. 15 | Argosy Research Inc. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Mar. 06 | Argosy Research Inc. Proposes Dividend Distribution for the Year 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 5,550 | 9,911 | 12,164 | 7,128 | 15,453 | 14,552 |
| Enterprise Value (EV) 1 | 5,550 | 8,458 | 11,002 | 7,128 | 15,453 | 14,552 |
| P/E ratio | 12.7 x | 15.3 x | 19 x | 11.8 x | 21.1 x | 15 x |
| Yield | - | 5.09% | 4.15% | - | - | - |
| Capitalization / Revenue | - | 3.81 x | 4.03 x | 2.73 x | 5.14 x | 4.1 x |
| EV / Revenue | - | 3.81 x | 4.03 x | 2.73 x | 5.14 x | 4.1 x |
| EV / EBITDA | - | 11,244,241 x | 13,500,718 x | - | - | - |
| EV / FCF | - | 17.4 x | 45.1 x | - | - | 16.2 x |
| FCF Yield | - | 5.74% | 2.22% | - | - | 6.19% |
| Price to Book | - | 2.85 x | 3.12 x | - | - | 3.36 x |
| Nbr of stocks (in thousands) | 82,104 | 90,104 | 90,104 | 89,104 | 90,104 | 90,104 |
| Reference price 2 | 67.60 | 110.0 | 135.0 | 80.00 | 171.5 | 161.5 |
| Announcement Date | 3/29/20 | 3/25/21 | 3/25/22 | 3/24/23 | 3/15/24 | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Net sales 1 | - | 2,598 | 3,016 | 2,608 | 3,004 | 3,552 |
| EBITDA | - | 881.5 | 901 | - | - | - |
| EBIT 1 | - | 779.9 | 785 | 539.7 | 826.8 | 1,106 |
| Operating Margin | - | 30.02% | 26.02% | 20.69% | 27.53% | 31.14% |
| Earnings before Tax (EBT) 1 | - | 759.6 | 805.8 | 760.6 | 924.1 | 1,211 |
| Net income 1 | 438.6 | 611.7 | 640.2 | 610.7 | 728.7 | 971 |
| Net margin | - | 23.54% | 21.22% | 23.41% | 24.26% | 27.34% |
| EPS 2 | 5.340 | 7.200 | 7.110 | 6.800 | 8.110 | 10.80 |
| Free Cash Flow 1 | - | 568.9 | 270 | - | - | 901 |
| FCF margin | - | 21.89% | 8.95% | - | - | 25.37% |
| FCF Conversion (EBITDA) | - | 64.54% | 29.97% | - | - | - |
| FCF Conversion (Net income) | - | 93% | 42.17% | - | - | 92.79% |
| Dividend per Share | - | 5.600 | 5.600 | - | - | - |
| Announcement Date | 3/29/20 | 3/25/21 | 3/25/22 | 3/24/23 | 3/15/24 | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 845.1 | 794.9 | 736.6 | 641.1 | 609.2 | 589.9 | 717.8 | 802 | 730 | 876 | 1,007 | 940 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 232.6 | 213.8 | 165.1 | 117.9 | 123.6 | 114.9 | 163 | 266 | 197 | 263 | 339 | 307 |
| Operating Margin | 27.53% | 26.89% | 22.41% | 18.39% | 20.3% | 19.47% | 22.7% | 33.17% | 26.99% | 30.02% | 33.66% | 32.66% |
| Earnings before Tax (EBT) 1 | 263.7 | 201.2 | 204.3 | 197.9 | 238.6 | 120.7 | 210.6 | 239.6 | 249 | 281 | 367 | 314 |
| Net income 1 | 211.5 | 157.1 | 161.8 | 157.5 | 197.5 | 65.68 | 157.3 | 189.1 | 198 | 224 | 303 | 246 |
| Net margin | 25.03% | 19.76% | 21.96% | 24.57% | 32.41% | 11.13% | 21.91% | 23.58% | 27.12% | 25.57% | 30.09% | 26.17% |
| EPS 2 | 2.350 | 1.750 | 1.800 | 1.740 | 2.200 | 1.070 | 1.750 | 2.100 | 2.200 | 2.490 | 3.380 | 2.740 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/11/21 | 3/25/22 | 5/9/22 | 8/10/22 | 11/11/22 | 4/27/23 | 8/9/23 | 3/15/24 | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - |
| Net Cash position | - | 1,453 | 1,162 | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | - | 569 | 270 | - | - | 901 |
| ROE (net income / shareholders' equity) | - | 22.1% | 17.4% | - | - | 23% |
| ROA (Net income/ Total Assets) | - | 16.8% | 13.7% | - | - | 18.8% |
| Assets 1 | - | 3,631 | 4,660 | - | - | 5,159 |
| Book Value Per Share 2 | - | 38.60 | 43.30 | - | - | 48.00 |
| Cash Flow per Share | - | - | - | - | - | - |
| Capex 1 | - | 169 | 326 | - | - | 90 |
| Capex / Sales | - | 6.51% | 10.79% | - | - | 2.53% |
| Announcement Date | 3/29/20 | 3/25/21 | 3/25/22 | 3/24/23 | 3/15/24 | - |
1TWD in Million2TWD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Sell
Buy
Mean consensus
HOLD
Number of Analysts
1
Last Close Price
161.5
TWD
Average target price
200
TWD
Spread / Average Target
+23.84%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -5.83% | 446M | |
| +34.64% | 23.13B | |
| +40.58% | 16.38B | |
| +9.56% | 2.34B | |
| -5.45% | 800M | |
| +9.88% | 769M | |
| -27.51% | 702M | |
| -27.39% | 347M | |
| +4.44% | 256M | |
| +0.47% | 180M |
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