Financials TDCX Inc.

Equities

TDCX

US87190U1007

IT Services & Consulting

Market Closed - Nyse 04:00:02 2024-04-26 pm EDT 5-day change 1st Jan Change
7.06 USD -0.84% Intraday chart for TDCX Inc. -0.14% +45.57%

Valuation

Fiscal Period: December 2021 2022 2023 2024 2025
Capitalization 1 2,736 1,805 1,410 1,410 -
Enterprise Value (EV) 1 2,461 1,454 301.7 812.7 683.6
P/E ratio 31.9 x 17.2 x 5.84 x 12.2 x 11.1 x
Yield - - - - -
Capitalization / Revenue 4.93 x 2.72 x 1.08 x 1.97 x 1.79 x
EV / Revenue 4.43 x 2.19 x 0.46 x 1.13 x 0.87 x
EV / EBITDA 13.7 x 8.06 x 1.67 x 4.45 x 3.36 x
EV / FCF 29.6 x 10.4 x 2.41 x 6.46 x 5.19 x
FCF Yield 3.38% 9.64% 41.6% 15.5% 19.3%
Price to Book 8.12 x 3.19 x 1.08 x 1.77 x 1.52 x
Nbr of stocks (in thousands) 142,859 145,763 146,610 146,610 -
Reference price 2 25.83 12.38 9.621 9.621 9.621
Announcement Date 3/9/22 3/7/23 3/6/24 - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025
Net sales 1 - 555.2 664.1 658.4 717.3 787.9
EBITDA 1 - 179.8 180.3 180.5 182.7 203.4
EBIT 1 - 139.9 140.6 136.9 138.9 150.4
Operating Margin - 25.21% 21.17% 20.8% 19.37% 19.09%
Earnings before Tax (EBT) 1 - 132.1 142 146.5 144.6 153.8
Net income 1 86.09 103.8 104.9 120.1 114 123.2
Net margin - 18.7% 15.8% 18.24% 15.89% 15.63%
EPS 2 - 0.8100 0.7200 0.8300 0.7883 0.8701
Free Cash Flow 1 - 83.18 140.1 125.4 125.9 131.6
FCF margin - 14.98% 21.09% 19.04% 17.55% 16.7%
FCF Conversion (EBITDA) - 46.26% 77.69% 69.44% 68.93% 64.71%
FCF Conversion (Net income) - 80.1% 133.49% 104.4% 110.45% 106.85%
Dividend per Share 2 - - - - - -
Announcement Date 5/10/21 3/9/22 3/7/23 3/6/24 - -
1SGD in Million2SGD
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 1 148.8 154.8 152.4 162.3 172.8 176.7 164.9 175.6 162.4 163.9
EBITDA - - - - 54.96 42.76 - - - -
EBIT 1 43.85 39.11 38.11 40.98 44.76 32.08 28.58 35.62 33.21 30.74
Operating Margin 29.47% 25.27% 25% 25.25% 25.9% 18.16% 17.32% 20.29% 20.45% 18.75%
Earnings before Tax (EBT) - - - - - 32.96 - - - -
Net income - - - - - 25.01 - - - -
Net margin - - - - - 14.16% - - - -
EPS 2 - - - - - 0.1700 0.1900 0.1870 0.1910 0.1220
Dividend per Share - - - - - - - - - -
Announcement Date 11/24/21 3/9/22 5/25/22 8/24/22 11/22/22 3/7/23 5/31/23 - - -
1SGD in Million2SGD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - - - -
Net Cash position 1 - 274 351 408 598 727
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 - 83.2 140 125 126 132
ROE (net income / shareholders' equity) - 36% 24.3% 18.5% 16.2% 16%
ROA (Net income/ Total Assets) - 25.2% 19.8% 15.5% 13.8% 13.8%
Assets 1 - 412.5 531.1 772.5 826.4 892.8
Book Value Per Share 2 - 3.180 3.880 4.490 5.430 6.350
Cash Flow per Share 2 - 0.8100 1.140 0.9500 1.250 1.430
Capex 1 - 20.6 25.3 11.8 29.1 34.4
Capex / Sales - 3.72% 3.8% 1.79% 4.06% 4.37%
Announcement Date 5/10/21 3/9/22 3/7/23 3/6/24 - -
1SGD in Million2SGD
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
9.621 SGD
Average target price
9.75 SGD
Spread / Average Target
+1.35%
Consensus