Company Valuation: Axis Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,731 2,034 1,878 2,857 2,428 1,890
Change - 17.5% -7.67% 52.11% -15.01% -22.17%
Enterprise Value (EV) 1 1,118 1,368 1,124 2,004 1,705 1,195
Change - 22.36% -17.85% 78.38% -14.92% -29.95%
P/E 12.2x 8.85x 10.4x 11.2x 13.5x 20.4x
PBR 1.83x 1.88x 1.68x 2.31x 1.94x 1.7x
PEG - 0.1x -0.5x 0.3x -0.5x -0.4x
Capitalization / Revenue 1.71x 1.68x 1.17x 2.1x 2.34x 1.89x
EV / Revenue 1.1x 1.13x 0.7x 1.47x 1.65x 1.19x
EV / EBITDA 8.54x 11.1x 4.22x 11.4x 16.8x 13.9x
EV / EBIT 9.22x 12.1x 4.38x 12.1x 18.8x 17x
EV / FCF -1,055x 42.3x 5.68x 26.2x 4.92x 8.82x
FCF Yield -0.09% 2.36% 17.6% 3.81% 20.3% 11.3%
Dividend per Share 2 2.7 3.6 3 4.2 4 1.8
Rate of return 7.27% 8.25% 7.44% 6.85% 7.68% 4.44%
EPS 2 3.05 4.93 3.89 5.47 3.85 1.99
Distribution rate 88.5% 73% 77.1% 76.8% 104% 90.5%
Net sales 1 1,015 1,212 1,610 1,359 1,036 1,002
EBITDA 1 130.9 122.8 266 175.6 101.4 85.82
EBIT 1 121.2 113.3 256.4 165.2 90.91 70.23
Net income 1 144.7 233.4 183.6 257.3 180.5 93.2
Net Debt 1 -613.4 -666.4 -754.3 -852.2 -722.6 -695.1
Reference price 2 37.15 43.65 40.30 61.30 52.10 40.55
Nbr of stocks (in thousands) 46,601 46,601 46,601 46,601 46,601 46,601
Announcement Date 26/03/21 21/03/22 17/03/23 08/03/24 10/03/25 06/03/26
1TWD in Million2TWD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 90.57M
35.23x6.33x19.38x0.62% 200B
92.3x10.79x43.62x0.54% 124B
14.64x0.31x7.12x3.5% 113B
39.64x14.81x29.56x0.33% 114B
109.89x10.56x52.04x0.15% 94.09B
96.79x11.34x48.16x0.01% 76.79B
26.18x1.44x15.9x0.39% 80.34B
59.27x12.78x38.89x0.66% 68.01B
18.36x3.16x11.91x1.5% 57.96B
Average 54.70x 7.95x 29.62x 0.86% 92.83B
Weighted average by Cap. 53.48x 7.93x 28.73x 0.87%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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