Stock 8358 CO-TECH DEVELOPMENT CORPORATION
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Financials Co-Tech Development Corporation

Equities

8358

TW0008358003

Semiconductors

End-of-day quote Taipei Exchange
Other stock markets
 06:00:00 2024-05-07 pm EDT 		5-day change 1st Jan Change
63.4 TWD -1.25% Intraday chart for Co-Tech Development Corporation -2.91% +4.62%
Apr. 30 Co-Tech Development Corporation Announces Resignation of Yang,Cheng-Ping as Marketing Department Director CI
Mar. 08 Co-Tech Development Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 7,085 10,748 13,463 19,475 12,629 15,307
Enterprise Value (EV) 1 5,396 9,082 11,643 17,286 11,555 14,813
P/E ratio 9.57 x 27.1 x 24.9 x 12.8 x 13.1 x 28.7 x
Yield 7.84% 4.7% 3.75% 5.45% 5% -
Capitalization / Revenue 1.14 x 2.06 x 2.23 x 2.18 x 1.7 x 2.48 x
EV / Revenue 0.86 x 1.74 x 1.93 x 1.94 x 1.56 x 2.4 x
EV / EBITDA 4.45 x 10.9 x 11.9 x 8.21 x 8.73 x 18.2 x
EV / FCF 9.04 x 25.5 x 22.5 x 28.4 x -45.8 x -108 x
FCF Yield 11.1% 3.92% 4.44% 3.52% -2.18% -0.93%
Price to Book 1.34 x 2.1 x 2.61 x 3.16 x 2.08 x 2.56 x
Nbr of stocks (in thousands) 252,588 252,588 252,588 252,588 252,588 252,588
Reference price 2 28.05 42.55 53.30 77.10 50.00 60.60
Announcement Date 3/28/19 3/2/20 3/29/21 3/18/22 3/13/23 3/8/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 6,240 5,221 6,037 8,915 7,407 6,170
EBITDA 1 1,213 833.6 978.7 2,106 1,323 812
EBIT 1 973.6 584.9 738.9 1,908 1,153 690.6
Operating Margin 15.6% 11.2% 12.24% 21.4% 15.56% 11.19%
Earnings before Tax (EBT) 1 947.6 526.2 671.9 1,905 1,185 666.1
Net income 1 741.1 396.7 541.6 1,523 967.2 532.9
Net margin 11.88% 7.6% 8.97% 17.09% 13.06% 8.64%
EPS 2 2.930 1.570 2.140 6.020 3.820 2.110
Free Cash Flow 1 596.9 356.3 517 608.2 -252.2 -137.4
FCF margin 9.57% 6.82% 8.56% 6.82% -3.4% -2.23%
FCF Conversion (EBITDA) 49.2% 42.74% 52.82% 28.87% - -
FCF Conversion (Net income) 80.54% 89.81% 95.45% 39.93% - -
Dividend per Share 2 2.200 2.000 2.000 4.200 2.500 -
Announcement Date 3/28/19 3/2/20 3/29/21 3/18/22 3/13/23 3/8/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4
Net sales 1 2,426 2,430 2,100 1,897 1,451 1,960 1,753 1,253 1,414 1,750
EBITDA - - - - - - - - - -
EBIT 1 544.2 583 463.9 369.5 103.4 216.1 230.8 106.7 110.2 242.9
Operating Margin 22.43% 23.99% 22.09% 19.48% 7.13% 11.03% 13.16% 8.52% 7.79% 13.88%
Earnings before Tax (EBT) 1 548.4 577.1 470.5 376.7 139.3 198.5 224.2 104.8 115.4 221.8
Net income 1 439.5 461.7 381.7 305.7 116.2 163.5 179.3 83.83 92.29 177.4
Net margin 18.12% 19% 18.18% 16.12% 8.01% 8.34% 10.23% 6.69% 6.53% 10.14%
EPS 2 1.740 1.820 1.510 1.210 0.4600 0.6500 0.7100 0.3300 0.3700 0.7000
Dividend per Share - - - - - - - - - -
Announcement Date 11/4/21 2/22/22 5/6/22 8/5/22 11/11/22 2/24/23 5/11/23 8/11/23 11/10/23 3/8/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 1,689 1,666 1,820 2,189 1,074 494
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 597 356 517 608 -252 -137
ROE (net income / shareholders' equity) 13.8% 7.42% 10.5% 26.9% 15.8% 8.83%
ROA (Net income/ Total Assets) 8.22% 5.28% 6.8% 15.8% 9.02% 5.56%
Assets 1 9,017 7,516 7,967 9,650 10,728 9,582
Book Value Per Share 2 21.00 20.30 20.40 24.40 24.10 23.70
Cash Flow per Share 2 10.80 10.70 10.30 11.50 6.530 6.150
Capex 1 472 96 94.3 795 1,104 696
Capex / Sales 7.56% 1.84% 1.56% 8.92% 14.91% 11.28%
Announcement Date 3/28/19 3/2/20 3/29/21 3/18/22 3/13/23 3/8/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly earnings - Rate of surprise

Company calendar

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