Financials Shenmao Technology Inc

Equities

3305

TW0003305009

Electronic Equipment & Parts

End-of-day quote Taiwan S.E. 23:00:00 05/05/2024 BST 5-day change 1st Jan Change
65.3 TWD +1.08% Intraday chart for Shenmao Technology Inc +6.18% -8.80%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,235 2,945 3,377 10,822 5,214 9,415
Enterprise Value (EV) 1 3,230 4,123 5,043 13,344 6,414 10,243
P/E ratio 54 x 17.5 x 19.1 x 17.5 x 9.88 x 41.4 x
Yield 5.45% 4.06% 4.74% 3.08% 5.04% 2.79%
Capitalization / Revenue 0.41 x 0.56 x 0.64 x 1.31 x 0.62 x 1.54 x
EV / Revenue 0.59 x 0.79 x 0.96 x 1.61 x 0.76 x 1.67 x
EV / EBITDA 16.2 x 14.8 x 14.7 x 14.2 x 13.7 x 22.5 x
EV / FCF 9.74 x 47.6 x -18.8 x -11.8 x 4.39 x 16.3 x
FCF Yield 10.3% 2.1% -5.32% -8.5% 22.8% 6.14%
Price to Book 0.63 x 0.83 x 0.92 x 2.42 x 1.11 x 2 x
Nbr of stocks (in thousands) 118,265 118,265 117,676 133,446 131,499 131,499
Reference price 2 18.90 24.90 28.70 81.10 39.65 71.60
Announcement Date 29/03/19 30/03/20 29/03/21 28/03/22 29/03/23 27/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 5,452 5,225 5,281 8,272 8,419 6,119
EBITDA 1 198.9 278.7 343.4 938.6 469.2 454.9
EBIT 1 123.2 210.2 280.3 874.8 402.7 384
Operating Margin 2.26% 4.02% 5.31% 10.57% 4.78% 6.28%
Earnings before Tax (EBT) 1 154.9 246.2 257.5 890.2 677.5 375.6
Net income 1 41.93 169.2 178.3 612 530.8 229.6
Net margin 0.77% 3.24% 3.38% 7.4% 6.31% 3.75%
EPS 2 0.3500 1.420 1.500 4.629 4.012 1.730
Free Cash Flow 1 331.6 86.54 -268.3 -1,134 1,461 629.3
FCF margin 6.08% 1.66% -5.08% -13.71% 17.36% 10.29%
FCF Conversion (EBITDA) 166.74% 31.05% - - 311.46% 138.35%
FCF Conversion (Net income) 790.77% 51.13% - - 275.27% 274.08%
Dividend per Share 2 1.030 1.010 1.360 2.498 2.000 2.000
Announcement Date 29/03/19 30/03/20 29/03/21 28/03/22 29/03/23 27/03/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 994 1,179 1,666 2,522 1,200 828
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 5.001 x 4.229 x 4.851 x 2.687 x 2.558 x 1.819 x
Free Cash Flow 1 332 86.5 -268 -1,134 1,461 629
ROE (net income / shareholders' equity) 1.17% 4.77% 4.94% 15.2% 11.6% 4.87%
ROA (Net income/ Total Assets) 1.18% 2.05% 2.7% 7.25% 3.08% 2.99%
Assets 1 3,568 8,262 6,611 8,442 17,240 7,687
Book Value Per Share 2 30.20 30.10 31.00 33.50 35.70 35.80
Cash Flow per Share 2 9.890 8.050 5.710 4.960 9.810 15.10
Capex 1 24.3 319 147 111 68.3 92.1
Capex / Sales 0.44% 6.11% 2.78% 1.35% 0.81% 1.51%
Announcement Date 29/03/19 30/03/20 29/03/21 28/03/22 29/03/23 27/03/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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