Financials Silergy Corp.

Equities

6415

KYG8190F1028

Semiconductors

End-of-day quote Taiwan S.E. 06:00:00 2024-05-19 pm EDT 5-day change 1st Jan Change
420 TWD -5.19% Intraday chart for Silergy Corp. +1.82% -16.00%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 86,702 223,032 471,677 166,226 191,751 161,435 - -
Enterprise Value (EV) 1 80,579 213,632 458,895 148,961 179,217 144,724 141,489 134,954
P/E ratio 37.9 x 70.9 x 87.1 x 28.7 x 265 x 66.3 x 31.9 x 20.4 x
Yield 0.79% 0.44% 0.36% 1.03% 0.39% 0.54% 0.98% 1.47%
Capitalization / Revenue 8.04 x 16.1 x 21.9 x 7.07 x 12.4 x 8.56 x 6.53 x 5.34 x
EV / Revenue 7.48 x 15.4 x 21.3 x 6.34 x 11.6 x 7.68 x 5.73 x 4.46 x
EV / EBITDA 30.6 x 61.2 x 64.6 x 22.8 x 755 x 55.1 x 26.7 x 16.8 x
EV / FCF 35.5 x 58.1 x 78 x 23.2 x 62.4 x 82 x 36.3 x 18.2 x
FCF Yield 2.82% 1.72% 1.28% 4.3% 1.6% 1.22% 2.76% 5.49%
Price to Book 5.76 x 12.4 x 20 x 5.41 x 6.22 x 4.99 x 4.45 x 3.84 x
Nbr of stocks (in thousands) 365,060 370,177 375,464 380,815 383,502 384,368 - -
Reference price 2 237.5 602.5 1,256 436.5 500.0 420.0 420.0 420.0
Announcement Date 3/19/20 3/17/21 3/10/22 3/10/23 3/13/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 10,778 13,876 21,506 23,511 15,427 18,857 24,705 30,239
EBITDA 1 2,631 3,489 7,101 6,539 237.5 2,626 5,295 8,024
EBIT 1 2,333 3,109 6,636 5,945 -486.4 2,002 4,826 7,345
Operating Margin 21.65% 22.4% 30.86% 25.29% -3.15% 10.62% 19.54% 24.29%
Earnings before Tax (EBT) 1 2,412 3,325 6,413 6,674 622.2 2,681 5,519 8,410
Net income 1 2,326 3,242 5,734 6,039 746 2,455 5,199 7,994
Net margin 21.58% 23.36% 26.66% 25.68% 4.84% 13.02% 21.04% 26.44%
EPS 2 6.268 8.502 14.43 15.21 1.890 6.335 13.18 20.64
Free Cash Flow 1 2,273 3,676 5,883 6,410 2,873 1,765 3,902 7,414
FCF margin 21.09% 26.49% 27.36% 27.26% 18.62% 9.36% 15.8% 24.52%
FCF Conversion (EBITDA) 86.37% 105.37% 82.85% 98.03% 1,209.49% 67.22% 73.7% 92.4%
FCF Conversion (Net income) 97.71% 113.41% 102.61% 106.15% 385.07% 71.9% 75.07% 92.74%
Dividend per Share 2 1.875 2.625 4.500 4.500 1.960 2.275 4.112 6.160
Announcement Date 3/19/20 3/17/21 3/10/22 3/10/23 3/13/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 6,154 6,021 6,801 5,991 4,698 3,435 3,598 4,111 4,284 4,417 5,132 5,520 5,087 5,815
EBITDA 1 2,078 - 2,189 1,612 835.6 -42.42 -132.9 182.7 230.1 553.5 900.2 1,185 891.7 1,294
EBIT 1 1,953 1,778 2,045 1,456 667.4 -215.8 -308.4 -1.393 39.14 367.5 721.3 920.2 740.7 1,085
Operating Margin 31.74% 29.53% 30.06% 24.3% 14.2% -6.28% -8.57% -0.03% 0.91% 8.32% 14.06% 16.67% 14.56% 18.66%
Earnings before Tax (EBT) 1 1,550 1,817 2,367 1,613 876.6 147.5 -157.7 467.7 164.7 549.2 869.6 1,048 869.2 1,245
Net income 1 1,381 1,578 2,091 1,469 901.3 218.4 -103.1 494.4 136.3 534.5 844.4 1,018 812.3 1,158
Net margin 22.45% 26.21% 30.74% 24.51% 19.18% 6.36% -2.87% 12.02% 3.18% 12.1% 16.46% 18.45% 15.97% 19.92%
EPS 2 3.432 3.958 5.260 3.690 2.290 0.5500 -0.2700 1.260 0.3400 1.353 2.174 2.608 2.089 2.979
Dividend per Share 2 - - - - - - - - - - 1.961 - - -
Announcement Date 3/10/22 5/12/22 8/23/22 11/11/22 3/10/23 5/11/23 8/25/23 11/14/23 3/13/24 - - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 6,123 9,400 12,782 17,265 12,534 16,711 19,946 26,480
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 2,273 3,676 5,883 6,410 2,873 1,765 3,902 7,414
ROE (net income / shareholders' equity) 16.7% 19.7% 27.8% 22.2% 2.42% 7.81% 14.8% 19.2%
ROA (Net income/ Total Assets) 15.2% 17.7% 24.9% 19.5% 2.14% 6.36% 12.6% 18.8%
Assets 1 15,258 18,270 23,000 30,959 34,849 38,592 41,130 42,524
Book Value Per Share 2 41.20 48.50 62.90 80.60 80.40 84.10 94.30 109.0
Cash Flow per Share 2 7.550 10.30 16.20 17.60 9.810 6.310 12.20 19.10
Capex 1 531 308 547 590 1,001 799 904 793
Capex / Sales 4.92% 2.22% 2.55% 2.51% 6.49% 4.24% 3.66% 2.62%
Announcement Date 3/19/20 3/17/21 3/10/22 3/10/23 3/13/24 - - -
1TWD in Million2TWD
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
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
420 TWD
Average target price
409.5 TWD
Spread / Average Target
-2.49%
Consensus
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