Financials Avalue Technology Incorporation

Equities

3479

TW0003479002

Computer Hardware

End-of-day quote Taipei Exchange 06:00:00 2024-04-29 pm EDT 5-day change 1st Jan Change
122.5 TWD +4.26% Intraday chart for Avalue Technology Incorporation +6.99% +2.51%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 5,359 3,893 4,009 5,789 8,623 8,690
Enterprise Value (EV) 1 5,359 3,893 4,009 5,789 8,623 8,690
P/E ratio 11.8 x - 19.6 x 10.5 x 14.3 x 11.1 x
Yield - - - - - -
Capitalization / Revenue - 0.83 x - 0.73 x 1.05 x 0.98 x
EV / Revenue - 0.83 x - 0.73 x 1.05 x 0.98 x
EV / EBITDA - - - - - -
EV / FCF - - - 20.2 x 8.69 x 11.8 x
FCF Yield - - - 4.96% 11.5% 8.47%
Price to Book - - - - 2.73 x 2.21 x
Nbr of stocks (in thousands) 70,148 70,148 70,449 71,116 72,155 72,417
Reference price 2 76.40 55.50 56.90 81.40 119.5 120.0
Announcement Date 3/19/20 3/30/21 3/29/22 3/30/23 3/15/24 -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Net sales 1 - 4,689 - 7,881 8,235 8,896
EBITDA - - - - - -
EBIT 1 - 268 - 772.4 945 1,146
Operating Margin - 5.72% - 9.8% 11.48% 12.88%
Earnings before Tax (EBT) 1 - - - 839.6 986.1 1,189
Net income 1 460.1 - 206.4 560.1 602.6 775
Net margin - - - 7.11% 7.32% 8.71%
EPS 2 6.490 - 2.900 7.750 8.380 10.81
Free Cash Flow 1 - - - 287.2 992.7 736
FCF margin - - - 3.64% 12.05% 8.27%
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - 51.28% 164.74% 94.97%
Dividend per Share - - - - - -
Announcement Date 3/19/20 3/30/21 3/29/22 3/30/23 3/15/24 -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - 2,321 - 1,989 2,266 1,895 1,770 2,037 2,402 2,525
EBITDA - - - - - - - - - -
EBIT 1 - 255 - 217.6 283.2 172.2 173 247 305 324
Operating Margin - 10.99% - 10.94% 12.5% 9.09% 9.77% 12.13% 12.7% 12.83%
Earnings before Tax (EBT) 1 - 266.2 - 225.4 315.3 168.8 186 261 320 338
Net income 1 144.2 176.6 182.3 125.8 179.5 114.9 123 170 209 222
Net margin - 7.61% - 6.33% 7.92% 6.06% 6.95% 8.35% 8.7% 8.79%
EPS 2 1.990 2.440 2.510 1.730 2.490 1.580 1.710 2.350 2.890 3.070
Dividend per Share - - - - - - - - - -
Announcement Date 11/11/22 3/30/23 5/11/23 8/11/23 11/14/23 3/15/24 - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Net Debt - - - - - -
Net Cash position - - - - - -
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 - - - 287 993 736
ROE (net income / shareholders' equity) - - - 21.6% 20.2% 22.4%
ROA (Net income/ Total Assets) - - - 11.2% 10.9% 11.8%
Assets 1 - - - 5,004 5,528 6,573
Book Value Per Share 2 - - - - 43.80 54.30
Cash Flow per Share - - - - - -
Capex 1 - - - 64 94.9 40
Capex / Sales - - - 0.81% 1.15% 0.45%
Announcement Date 3/19/20 3/30/21 3/29/22 3/30/23 3/15/24 -
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
2
Last Close Price
120 TWD
Average target price
144.5 TWD
Spread / Average Target
+20.42%
Consensus
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