Stock 3268 HIGHER WAY ELECTRONIC CO., LTD.
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Financials Higher Way Electronic Co., Ltd.

Equities

3268

TW0003268009

Semiconductors

End-of-day quote Taipei Exchange
Other stock markets
 23:00:00 15/07/2024 BST 		5-day change 1st Jan Change
28.25 TWD -0.70% Intraday chart for Higher Way Electronic Co., Ltd. -3.42% -0.18%
05-14 Higher Way Electronic Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
03-12 Higher Way Electronic Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 339.3 426.2 551.5 1,035 730.4 946
Enterprise Value (EV) 1 553.3 644.7 446.2 975.3 781.9 968.2
P/E ratio -19.4 x -22.7 x 18.5 x 32.9 x 16 x -142 x
Yield - - 3.03% 1.94% 3.2% -
Capitalization / Revenue 0.41 x 0.45 x 0.47 x 0.7 x 0.59 x 0.9 x
EV / Revenue 0.67 x 0.68 x 0.38 x 0.66 x 0.64 x 0.92 x
EV / EBITDA -50 x -2,568 x 18.3 x 24.6 x 45.8 x -190 x
EV / FCF -26.7 x 37.7 x 7.96 x -24.4 x -8.55 x 11.4 x
FCF Yield -3.75% 2.65% 12.6% -4.09% -11.7% 8.76%
Price to Book 0.69 x 0.89 x 1.2 x 2.35 x 1.42 x 1.9 x
Nbr of stocks (in thousands) 33,426 33,426 33,426 33,426 33,426 33,426
Reference price 2 10.15 12.75 16.50 30.95 21.85 28.30
Announcement Date 01/04/19 31/03/20 31/03/21 30/03/22 29/03/23 12/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 830.5 942.5 1,166 1,486 1,230 1,050
EBITDA 1 -11.06 -0.251 24.36 39.72 17.07 -5.094
EBIT 1 -13.06 -2.444 22.1 37.37 14.24 -7.729
Operating Margin -1.57% -0.26% 1.9% 2.52% 1.16% -0.74%
Earnings before Tax (EBT) 1 -17.48 -18.74 30.05 32.3 49.65 -9.403
Net income 1 -17.48 -18.74 30.05 31.77 51.28 -6.566
Net margin -2.11% -1.99% 2.58% 2.14% 4.17% -0.63%
EPS 2 -0.5231 -0.5608 0.8900 0.9400 1.362 -0.2000
Free Cash Flow 1 -20.74 17.09 56.09 -39.9 -91.49 84.86
FCF margin -2.5% 1.81% 4.81% -2.69% -7.44% 8.08%
FCF Conversion (EBITDA) - - 230.25% - - -
FCF Conversion (Net income) - - 186.68% - - -
Dividend per Share - - 0.5000 0.6000 0.7000 -
Announcement Date 01/04/19 31/03/20 31/03/21 30/03/22 29/03/23 12/03/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 214 218 - - 51.5 22.3
Net Cash position 1 - - 105 59.3 - -
Leverage (Debt/EBITDA) -19.34 x -870.4 x - - 3.021 x -4.369 x
Free Cash Flow 1 -20.7 17.1 56.1 -39.9 -91.5 84.9
ROE (net income / shareholders' equity) -3.53% -3.88% 6.41% 7.05% 10.7% -1.3%
ROA (Net income/ Total Assets) -0.86% -0.16% 1.51% 2.86% 1.03% -0.52%
Assets 1 2,036 11,909 1,984 1,110 4,979 1,269
Book Value Per Share 2 14.70 14.30 13.80 13.20 15.40 14.90
Cash Flow per Share 2 2.160 1.990 5.130 3.840 3.370 6.440
Capex 1 15.4 0.61 1.22 2.26 0.58 1.21
Capex / Sales 1.86% 0.06% 0.1% 0.15% 0.05% 0.12%
Announcement Date 01/04/19 31/03/20 31/03/21 30/03/22 29/03/23 12/03/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Integrated Circuits

1st Jan change Capi.
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