Stock 2423 GOOD WILL INSTRUMENT CO., LTD.
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Financials Good Will Instrument Co., Ltd.

Equities

2423

TW0002423001

Electrical Components & Equipment

End-of-day quote Taiwan S.E.
Other stock markets
 23:00:00 12/05/2024 BST 		5-day change 1st Jan Change
42.65 TWD +1.07% Intraday chart for Good Will Instrument Co., Ltd. -8.28% +12.38%
02-23 Good Will Instrument Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI
2023 Good Will Instrument Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 3,300 3,358 3,895 3,488 4,185 3,989
Enterprise Value (EV) 1 2,789 2,868 3,460 3,295 3,847 3,768
P/E ratio 11.7 x 9.89 x 12.5 x 17.7 x 14.6 x 10 x
Yield 6.59% 7.78% 5.59% 4.99% 5.2% 7.27%
Capitalization / Revenue 1.43 x 1.3 x 1.53 x 1.51 x 1.6 x 1.38 x
EV / Revenue 1.21 x 1.11 x 1.36 x 1.43 x 1.47 x 1.31 x
EV / EBITDA 8.14 x 6.94 x 8.59 x 10.6 x 8.67 x 7.32 x
EV / FCF 7.62 x 29 x 22.1 x 9.29 x 14.8 x -87.4 x
FCF Yield 13.1% 3.45% 4.52% 10.8% 6.74% -1.14%
Price to Book 1.49 x 1.45 x 1.66 x 1.5 x 1.72 x 1.51 x
Nbr of stocks (in thousands) 145,047 145,047 145,047 145,047 145,047 145,047
Reference price 2 22.75 23.15 26.85 24.05 28.85 27.50
Announcement Date 28/03/18 26/03/19 25/03/20 12/03/21 25/02/22 24/02/23
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 2,306 2,575 2,553 2,306 2,609 2,886
EBITDA 1 342.6 413.4 402.8 312.2 443.9 514.9
EBIT 1 276.3 350.2 336.1 249 380 448.9
Operating Margin 11.98% 13.6% 13.16% 10.8% 14.56% 15.56%
Earnings before Tax (EBT) 1 366.1 421.6 395.2 274 404.9 530.3
Net income 1 284.1 343.5 312.1 199.1 289.5 403.7
Net margin 12.32% 13.34% 12.22% 8.63% 11.1% 13.99%
EPS 2 1.940 2.340 2.140 1.360 1.980 2.750
Free Cash Flow 1 365.9 98.89 156.4 354.6 259.2 -43.12
FCF margin 15.87% 3.84% 6.13% 15.38% 9.93% -1.49%
FCF Conversion (EBITDA) 106.81% 23.92% 38.83% 113.59% 58.4% -
FCF Conversion (Net income) 128.81% 28.79% 50.12% 178.14% 89.53% -
Dividend per Share 2 1.500 1.800 1.500 1.200 1.500 2.000
Announcement Date 28/03/18 26/03/19 25/03/20 12/03/21 25/02/22 24/02/23
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 Q1 2023 Q2 2023 Q3
Net sales 1 - 721.3 741.5
EBITDA - - -
EBIT 1 - 122.5 122.3
Operating Margin - 16.98% 16.49%
Earnings before Tax (EBT) 1 - 128.6 149.6
Net income 1 81.67 88.6 112.2
Net margin - 12.28% 15.13%
EPS 2 0.5600 0.6100 0.7700
Dividend per Share - - -
Announcement Date 12/05/23 10/08/23 09/11/23
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 511 490 434 193 337 221
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 366 98.9 156 355 259 -43.1
ROE (net income / shareholders' equity) 12.9% 15.1% 13.3% 8.52% 12.2% 15.9%
ROA (Net income/ Total Assets) 5.69% 6.97% 6.59% 4.56% 6.61% 7.5%
Assets 1 4,992 4,928 4,736 4,361 4,378 5,384
Book Value Per Share 2 15.20 16.00 16.10 16.00 16.80 18.20
Cash Flow per Share 2 4.080 3.020 2.550 4.470 3.050 4.040
Capex 1 28.1 98 43.6 30.6 35.3 44.6
Capex / Sales 1.22% 3.81% 1.71% 1.33% 1.35% 1.55%
Announcement Date 28/03/18 26/03/19 25/03/20 12/03/21 25/02/22 24/02/23
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

Sector Electrical Measuring & Testing Instruments

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Electrical Measuring & Testing Instruments
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