Stock 5439 FIRST HI-TEC ENTERPRISE CO., LTD.
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Financials First Hi-tec Enterprise Co., Ltd.

Equities

5439

TW0005439004

Semiconductors

End-of-day quote Taipei Exchange
Other stock markets
 23:00:00 12/05/2024 BST 		5-day change 1st Jan Change
94.7 TWD +0.96% Intraday chart for First Hi-tec Enterprise Co., Ltd. +1.28% -22.69%
03-28 First Hi-tec Enterprise Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI
03-25 First Hi-tec Enterprise Co., Ltd. Approves Investment Project to Establish A Subsidiary in Thailand CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,289 3,516 4,514 5,699 4,365 11,390
Enterprise Value (EV) 1 2,915 3,164 4,139 5,732 4,260 11,365
P/E ratio 11.4 x 16 x 15.4 x 13.4 x 11.9 x 24.3 x
Yield 7.32% 5.62% 4.76% 5.87% 7.03% 3.35%
Capitalization / Revenue 1.43 x 1.6 x 1.81 x 1.69 x 1.35 x 2.62 x
EV / Revenue 1.27 x 1.44 x 1.66 x 1.7 x 1.32 x 2.61 x
EV / EBITDA 6.76 x 7.96 x 8.18 x 9.02 x 7.78 x 15 x
EV / FCF 16.8 x 17.6 x 24.2 x -12 x 14.1 x 69.8 x
FCF Yield 5.94% 5.69% 4.14% -8.3% 7.08% 1.43%
Price to Book 1.96 x 2.13 x 2.57 x 2.44 x 1.85 x 4.55 x
Nbr of stocks (in thousands) 85,976 85,976 85,976 92,976 92,976 92,976
Reference price 2 38.25 40.90 52.50 61.30 46.95 122.5
Announcement Date 25/03/19 26/03/20 26/03/21 30/03/22 27/03/23 28/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,295 2,192 2,494 3,372 3,225 4,350
EBITDA 1 431.4 397.5 506.1 635.6 547.2 759.3
EBIT 1 325.6 284.5 388.3 503.5 379.6 594.3
Operating Margin 14.19% 12.98% 15.57% 14.93% 11.77% 13.66%
Earnings before Tax (EBT) 1 362.5 282.8 367.4 507.4 453.4 586.7
Net income 1 292.8 221.4 294.9 407 370.2 471.3
Net margin 12.76% 10.1% 11.83% 12.07% 11.48% 10.83%
EPS 2 3.370 2.560 3.400 4.570 3.940 5.040
Free Cash Flow 1 173.2 180 171.3 -475.8 301.5 162.9
FCF margin 7.55% 8.21% 6.87% -14.11% 9.35% 3.74%
FCF Conversion (EBITDA) 40.15% 45.28% 33.86% - 55.1% 21.46%
FCF Conversion (Net income) 59.16% 81.29% 58.1% - 81.44% 34.57%
Dividend per Share 2 2.800 2.300 2.500 3.600 3.300 4.100
Announcement Date 25/03/19 26/03/20 26/03/21 30/03/22 27/03/23 28/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 Q1 2023 Q2 2023 Q3
Net sales 1 - 1,101 1,103
EBITDA - - -
EBIT 1 - 160.4 153
Operating Margin - 14.57% 13.86%
Earnings before Tax (EBT) 1 - 173.8 187.3
Net income 1 112.3 141 149.8
Net margin - 12.81% 13.58%
EPS 2 1.200 1.510 1.610
Dividend per Share - - -
Announcement Date 15/05/23 11/08/23 14/11/23
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - 33 - -
Net Cash position 1 374 353 375 - 106 24.1
Leverage (Debt/EBITDA) - - - 0.052 x - -
Free Cash Flow 1 173 180 171 -476 302 163
ROE (net income / shareholders' equity) 18.1% 13.3% 17.3% 19.9% 15.8% 19.4%
ROA (Net income/ Total Assets) 8.96% 7.6% 9.67% 9.82% 6.27% 9.13%
Assets 1 3,266 2,911 3,051 4,145 5,904 5,162
Book Value Per Share 2 19.50 19.20 20.40 25.10 25.40 26.90
Cash Flow per Share 2 4.670 4.970 5.500 3.030 4.900 5.730
Capex 1 114 163 140 455 158 183
Capex / Sales 4.95% 7.41% 5.63% 13.49% 4.91% 4.21%
Announcement Date 25/03/19 26/03/20 26/03/21 30/03/22 27/03/23 28/03/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly earnings - Rate of surprise

Company calendar

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