Company Valuation: Farglory Free Trade Zone Investment Holding Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Capitalization 1 6,842 15,524 14,329 19,375 15,422 17,935
Change - 126.89% -7.69% 35.22% -20.41% 16.3%
Enterprise Value (EV) 1 10,636 22,495 25,191 31,748 29,140 31,066
Change - 111.5% 11.98% 26.03% -8.22% 6.61%
P/E ratio 14.9x 27.2x 12.3x 19.8x 21.5x 17.5x
PBR 1.21x 2.6x 1.79x 1.94x 1.48x 1.62x
PEG - 1.1x 0.2x -0.8x -0.8x 0.4x
Capitalization / Revenue 3.59x 6.11x 4.48x 6.66x 4.45x 4.33x
EV / Revenue 5.58x 8.86x 7.88x 10.9x 8.41x 7.5x
EV / EBITDA 11.6x 17.2x 14.6x 22x 15.4x 13.1x
EV / EBIT 15.7x 21.7x 17.5x 33.5x 25.5x 20.3x
EV / FCF 23.2x -41x -19.8x 79.9x 38.6x 22.8x
FCF Yield 4.3% -2.44% -5.04% 1.25% 2.59% 4.39%
Dividend per Share 2 0.9903 1.32 0.9903 0.817 1.078 1.8
Rate of return 4.03% 2.37% 2.29% 1.56% 2.59% 3.72%
EPS 2 1.65 2.047 3.516 2.642 1.931 2.77
Distribution rate 60% 64.5% 28.2% 30.9% 55.8% 65%
Net sales 1 1,907 2,539 3,197 2,908 3,465 4,143
EBITDA 1 913.5 1,304 1,727 1,443 1,897 2,376
EBIT 1 675.5 1,036 1,438 948.9 1,142 1,530
Net income 1 461.2 571 1,096 892.2 716.9 1,028
Net Debt 1 3,794 6,972 10,862 12,373 13,718 13,132
Reference price 2 24.55 55.70 43.16 52.29 41.62 48.40
Nbr of stocks (in thousands) 278,679 278,679 331,997 370,553 370,553 370,553
Announcement Date 29/03/21 28/03/22 15/03/23 12/03/24 13/03/25 12/03/26
1TWD in Million2TWD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 562M
21.66x1.11x9.55x1.54% 89.26B
14.52x1.19x8.68x6.46% 86.41B
15.29x0.93x7.01x3.96% 64.17B
23.6x1.6x16.29x1.13% 19.02B
40.4x1.06x13.13x-.--% 12.59B
29.47x2.43x8.96x-.--% 8.9B
27.81x0.59x8.62x-.--% 6.43B
9.03x0.33x5.81x5.6% 6.05B
15.76x0.71x8.38x3.42% 5.8B
Average 21.95x 1.11x 9.60x 2.46% 29.92B
Weighted average by Cap. 19.13x 1.13x 9.20x 3.43%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Farglory Free Trade Zone Investment Holding Co., Ltd.