USI CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 15.6 TWD | -0.64% |
|
-3.41% | -21.01% |
| Apr. 25 | USI's Q1 Profit Rises 21%, Operating Income Jumps 4% | MT |
| Mar. 15 | USI Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 14,851 | 24,234 | 33,831 | 23,698 | 21,178 | 16,728 | - |
| Enterprise Value (EV) 1 | 23,534 | 32,675 | 25,818 | 26,712 | 23,811 | 20,038 | 24,651 |
| P/E ratio | 11.6 x | 10.1 x | 6.53 x | 15.2 x | -104 x | 19.4 x | - |
| Yield | 3.61% | 4.42% | 6.97% | 3.17% | 1.77% | - | - |
| Capitalization / Revenue | 0.27 x | 0.48 x | 0.47 x | 0.36 x | 0.41 x | 0.32 x | 0.3 x |
| EV / Revenue | 0.42 x | 0.65 x | 0.36 x | 0.4 x | 0.46 x | 0.39 x | 0.45 x |
| EV / EBITDA | 4.55 x | 3.53 x | 1.7 x | 3.28 x | 5.63 x | -52.7 x | 21.1 x |
| EV / FCF | 5.78 x | 3.85 x | 4.86 x | 3.83 x | 16.3 x | -36.6 x | -8.28 x |
| FCF Yield | 17.3% | 26% | 20.6% | 26.1% | 6.14% | -2.73% | -12.1% |
| Price to Book | 0.8 x | 1.15 x | 1.33 x | 0.97 x | 1.11 x | 0.85 x | 0.87 x |
| Nbr of stocks (in thousands) | 1,072,298 | 1,072,298 | 1,072,298 | 1,072,298 | 1,072,298 | 1,072,298 | - |
| Reference price 2 | 13.85 | 22.60 | 31.55 | 22.10 | 19.75 | 15.60 | 15.60 |
| Announcement Date | 3/29/20 | 3/22/21 | 3/17/22 | 3/15/23 | 3/15/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 55,657 | 50,201 | 71,756 | 66,437 | 52,265 | 51,761 | 55,291 |
| EBITDA 1 | 5,168 | 9,249 | 15,219 | 8,146 | 4,228 | -380 | 1,169 |
| EBIT 1 | 2,932 | 6,896 | 12,883 | 5,736 | 1,619 | 62 | 516 |
| Operating Margin | 5.27% | 13.74% | 17.95% | 8.63% | 3.1% | 0.12% | 0.93% |
| Earnings before Tax (EBT) 1 | 3,361 | 7,119 | 12,752 | 697 | -1,937 | 1,766 | - |
| Net income 1 | 1,281 | 2,410 | 5,191 | 1,555 | -207 | 975 | - |
| Net margin | 2.3% | 4.8% | 7.23% | 2.34% | -0.4% | 1.88% | - |
| EPS 2 | 1.190 | 2.240 | 4.830 | 1.450 | -0.1900 | 0.8050 | - |
| Free Cash Flow 1 | 4,070 | 8,485 | 5,311 | 6,980 | 1,463 | -548 | -2,978 |
| FCF margin | 7.31% | 16.9% | 7.4% | 10.51% | 2.8% | -1.06% | -5.39% |
| FCF Conversion (EBITDA) | 78.74% | 91.74% | 34.9% | 85.68% | 34.6% | - | - |
| FCF Conversion (Net income) | 317.59% | 352.11% | 102.3% | 448.82% | - | - | - |
| Dividend per Share 2 | 0.5000 | 1.000 | 2.200 | 0.7000 | 0.3500 | - | - |
| Announcement Date | 3/29/20 | 3/22/21 | 3/17/22 | 3/15/23 | 3/15/24 | - | - |
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 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 18,464 | 19,351 | 17,098 | 17,852 | 16,339 | 15,149 | 13,176 | 12,759 | 13,500 | 12,830 | 12,445 | 13,223 | 12,760 | 13,334 |
| EBITDA 1 | 3,129 | 4,559 | 2,259 | 2,277 | 1,266 | 2,345 | 1,368 | 1,197 | 1,022 | 641 | 761 | 1,186 | 1,848 | 1,630 |
| EBIT 1 | 2,545 | 3,977 | 1,668 | 1,683 | 663.2 | 1,722 | 738.3 | 555.6 | 362.6 | -37.09 | -116 | 45 | 25 | 108 |
| Operating Margin | 13.78% | 20.55% | 9.76% | 9.43% | 4.06% | 11.36% | 5.6% | 4.35% | 2.69% | -0.29% | -0.93% | 0.34% | 0.2% | 0.81% |
| Earnings before Tax (EBT) 1 | 2,670 | 3,399 | 988 | 409.5 | -722.7 | 22.28 | -556.4 | -270.4 | 269.8 | -1,380 | -454 | 171 | 1,034 | 1,015 |
| Net income 1 | 1,046 | 1,591 | 534.8 | 354 | 174.3 | 492.1 | -96.52 | 27.06 | 230.3 | -367.9 | -126 | 175 | 515 | 411 |
| Net margin | 5.67% | 8.22% | 3.13% | 1.98% | 1.07% | 3.25% | -0.73% | 0.21% | 1.71% | -2.87% | -1.01% | 1.32% | 4.04% | 3.08% |
| EPS 2 | 0.9700 | 1.480 | 0.5000 | 0.3300 | 0.1600 | 0.4600 | -0.0900 | 0.0300 | 0.2100 | -0.3400 | -0.1200 | 0.1600 | 0.4800 | 0.3800 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/12/21 | 3/17/22 | 5/5/22 | 8/13/22 | 11/11/22 | 3/15/23 | 5/11/23 | 8/11/23 | 11/13/23 | 3/15/24 | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | 8,682 | 8,442 | - | 3,014 | 2,633 | 3,310 | 7,923 |
| Net Cash position 1 | - | - | 8,013 | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.68 x | 0.9127 x | - | 0.37 x | 0.6227 x | -8.711 x | 6.778 x |
| Free Cash Flow 1 | 4,070 | 8,485 | 5,311 | 6,980 | 1,463 | -548 | -2,978 |
| ROE (net income / shareholders' equity) | 6.96% | 12.2% | 22.4% | 6.23% | -0.87% | -4.4% | -2.5% |
| ROA (Net income/ Total Assets) | 1.83% | 3.24% | 6.4% | 1.91% | -0.27% | -2.9% | -1.6% |
| Assets 1 | 70,212 | 74,376 | 81,075 | 81,283 | 75,910 | -33,621 | - |
| Book Value Per Share 2 | 17.30 | 19.60 | 23.70 | 22.80 | 17.80 | 18.40 | 17.90 |
| Cash Flow per Share 2 | 5.630 | 10.10 | 8.310 | 9.080 | 4.440 | 3.610 | - |
| Capex 1 | 2,003 | 2,331 | 3,622 | 2,770 | 3,293 | 2,371 | 4,578 |
| Capex / Sales | 3.6% | 4.64% | 5.05% | 4.17% | 6.3% | 4.58% | 8.28% |
| Announcement Date | 3/29/20 | 3/22/21 | 3/17/22 | 3/15/23 | 3/15/24 | - | - |
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
Sell
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
15.6
TWD
Average target price
19.25
TWD
Spread / Average Target
+23.40%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -21.01% | 516M | |
| +8.41% | 41.81B | |
| -20.54% | 21.99B | |
| -14.52% | 13.29B | |
| -9.95% | 10.12B | |
| -7.40% | 9.92B | |
| +15.96% | 8.22B | |
| +12.40% | 7.03B | |
| -22.18% | 5.92B | |
| -29.96% | 3.31B |
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