Financials Fabrinet

Equities

FN

KYG3323L1005

Electronic Equipment & Parts

Real-time Estimate Cboe BZX 02:56:28 2024-05-03 pm EDT 5-day change 1st Jan Change
181.2 USD +4.00% Intraday chart for Fabrinet +3.04% -5.02%

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,830 2,292 3,536 2,983 4,714 6,325 - -
Enterprise Value (EV) 1 1,702 2,118 3,273 2,813 4,495 5,934 5,797 5,629
P/E ratio 15.4 x 20.7 x 24.3 x 15.1 x - 23.7 x 20.4 x 16.4 x
Yield - - - - - - - -
Capitalization / Revenue 1.15 x 1.4 x 1.88 x 1.32 x 1.78 x 2.23 x 2.01 x 1.8 x
EV / Revenue 1.07 x 1.29 x 1.74 x 1.24 x 1.7 x 2.09 x 1.84 x 1.61 x
EV / EBITDA 9.81 x 12 x 15.3 x 10.3 x 13.8 x 17 x 15 x 12.6 x
EV / FCF 13.2 x 19.6 x 43 x 81.2 x 29.6 x 19.3 x 21.4 x 18.3 x
FCF Yield 7.56% 5.11% 2.33% 1.23% 3.38% 5.19% 4.66% 5.47%
Price to Book - 2.36 x 3.18 x 2.39 x 3.2 x 3.67 x 3.21 x 2.79 x
Nbr of stocks (in thousands) 36,833 36,722 36,884 36,785 36,297 36,308 - -
Reference price 2 49.67 62.42 95.87 81.10 129.9 174.2 174.2 174.2
Announcement Date 8/19/19 8/17/20 8/16/21 8/15/22 8/21/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Juni 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,584 1,642 1,879 2,262 2,645 2,840 3,151 3,505
EBITDA 1 173.5 176.4 214.1 272.9 324.7 348.4 387.2 447.3
EBIT 1 142.8 145.5 177.8 234.1 280.9 300.1 334.8 373.5
Operating Margin 9.01% 8.86% 9.46% 10.35% 10.62% 10.57% 10.62% 10.65%
Earnings before Tax (EBT) 1 126.2 119.2 150.5 - - 284 323 397
Net income 1 121 113.5 148.3 - - 269 309 380
Net margin 7.63% 6.91% 7.89% - - 9.47% 9.81% 10.84%
EPS 2 3.230 3.010 3.950 5.360 - 7.350 8.520 10.65
Free Cash Flow 1 128.7 108.3 76.13 34.66 152 308 270.4 308
FCF margin 8.13% 6.6% 4.05% 1.53% 5.74% 10.85% 8.58% 8.79%
FCF Conversion (EBITDA) 74.18% 61.42% 35.56% 12.7% 46.79% 88.41% 69.84% 68.85%
FCF Conversion (Net income) 106.43% 95.47% 51.32% - - 114.5% 87.52% 81.05%
Dividend per Share 2 - - - - - - - -
Announcement Date 8/19/19 8/17/20 8/16/21 8/15/22 8/21/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 543.3 566.6 564.4 587.9 655.4 668.7 665.3 655.9 685.5 712.7 715.1 726.6 743 785.5 787.6
EBITDA 1 62.17 68.5 69.34 72.89 81.05 83.67 86.07 79.98 84.28 88.61 88.9 91.75 95.3 99.3 97.2
EBIT 1 52.64 58.92 59.55 63.06 70 73.13 75.17 68.65 72.32 76.39 75.84 76.51 78.78 83.55 83.85
Operating Margin 9.69% 10.4% 10.55% 10.73% 10.68% 10.94% 11.3% 10.47% 10.55% 10.72% 10.61% 10.53% 10.6% 10.64% 10.65%
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income - - - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - - - -
EPS - - 1.350 1.510 1.760 - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 11/1/21 1/31/22 5/2/22 8/15/22 11/7/22 2/6/23 5/8/23 8/21/23 11/6/23 2/5/24 - - - - -
1USD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 127 174 263 171 219 391 527 696
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 129 108 76.1 34.7 152 308 270 308
ROE (net income / shareholders' equity) 17.8% 15.3% 16.8% 18.3% 20.8% 18.2% 17.7% 18.3%
ROA (Net income/ Total Assets) 12.2% 10.7% 11.7% 13.3% 14.8% 14.6% 14% 13.9%
Assets 1 993.9 1,064 1,267 - - 1,849 2,207 2,739
Book Value Per Share 2 - 26.40 30.20 34.00 40.60 47.50 54.30 62.40
Cash Flow per Share 2 - - - - - 9.590 10.80 13.30
Capex 1 18.7 42.3 42.5 89.6 61.4 48.4 65 83
Capex / Sales 1.18% 2.58% 2.26% 3.96% 2.32% 1.7% 2.06% 2.37%
Announcement Date 8/19/19 8/17/20 8/16/21 8/15/22 8/21/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
174.2 USD
Average target price
210.8 USD
Spread / Average Target
+21.04%
Consensus