Financials Taiwan Surface Mounting Technology Corp.

Equities

6278

TW0006278005

Semiconductors

End-of-day quote Taiwan S.E. 23:00:00 14/05/2024 BST 5-day change 1st Jan Change
118.5 TWD 0.00% Intraday chart for Taiwan Surface Mounting Technology Corp. -2.07% +23.57%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 34,211 37,719 36,111 26,023 28,041 34,649 -
Enterprise Value (EV) 1 34,211 34,773 37,884 23,091 28,758 35,894 34,989
P/E ratio - 17.2 x 9.81 x 6.52 x 11.3 x 7.93 x 10.5 x
Yield - 2.56% 4.86% 7.87% 5.21% 4.83% 4.75%
Capitalization / Revenue 0.9 x 0.91 x 0.55 x 0.38 x 0.6 x 0.53 x 0.59 x
EV / Revenue 0.9 x 0.84 x 0.58 x 0.34 x 0.62 x 0.55 x 0.59 x
EV / EBITDA - 10.3 x 6.01 x 2.65 x 5.19 x 3.64 x 25.6 x
EV / FCF 9.03 x 58.5 x -15.9 x 2.74 x 5.75 x 38.4 x 14.6 x
FCF Yield 11.1% 1.71% -6.27% 36.5% 17.4% 2.6% 6.87%
Price to Book - 2.8 x 2.28 x 1.33 x 1.41 x 1.49 x 1.5 x
Nbr of stocks (in thousands) 292,398 292,398 292,398 292,398 292,398 292,398 -
Reference price 2 117.0 129.0 123.5 89.00 95.90 118.5 118.5
Announcement Date 19/03/20 19/03/21 15/03/22 10/03/23 13/03/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 37,906 41,406 65,720 68,455 46,496 65,075 58,890
EBITDA 1 - 3,381 6,298 8,729 5,545 9,852 1,368
EBIT 1 2,591 2,500 4,702 5,812 2,489 4,646 3,943
Operating Margin 6.84% 6.04% 7.15% 8.49% 5.35% 7.14% 6.7%
Earnings before Tax (EBT) 1 - 2,888 4,924 5,515 3,086 5,872 4,388
Net income 1 - 2,194 3,713 4,042 2,507 4,372 3,292
Net margin - 5.3% 5.65% 5.9% 5.39% 6.72% 5.59%
EPS 2 - 7.500 12.59 13.65 8.500 14.95 11.26
Free Cash Flow 1 3,790 594.8 -2,376 8,432 5,004 934 2,403
FCF margin 10% 1.44% -3.62% 12.32% 10.76% 1.44% 4.08%
FCF Conversion (EBITDA) - 17.59% - 96.59% 90.23% 9.48% 175.66%
FCF Conversion (Net income) - 27.11% - 208.61% 199.58% 21.37% 73%
Dividend per Share 2 - 3.300 6.000 7.000 5.000 5.719 5.630
Announcement Date 19/03/20 19/03/21 15/03/22 10/03/23 13/03/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 19,707 18,131 - 17,347 17,597 9,412 12,186 12,741 12,157 10,929 12,110 14,110 15,410
EBITDA - - - - - - - - - - - - -
EBIT 1 1,733 1,523 - - 1,586 257.2 682.6 960.1 589.3 607.8 786 1,117 1,109
Operating Margin 8.79% 8.4% - - 9.01% 2.73% 5.6% 7.54% 4.85% 5.56% 6.49% 7.92% 7.2%
Earnings before Tax (EBT) 1 1,832 1,708 - - 1,378 306.7 840.9 1,195 743.3 896.7 917 1,203 1,218
Net income 1 1,316 1,223 839.8 - 919.7 284.7 631.9 913.2 677.2 681.3 737 855 867
Net margin 6.68% 6.75% - - 5.23% 3.02% 5.19% 7.17% 5.57% 6.23% 6.09% 6.06% 5.63%
EPS 2 4.450 4.140 2.850 3.630 3.090 0.9700 2.150 3.130 2.300 2.330 2.520 2.930 2.960
Dividend per Share - - - - - - - - - - - - -
Announcement Date 15/03/22 29/04/22 10/08/22 28/10/22 10/03/23 09/05/23 03/08/23 27/10/23 13/03/24 30/04/24 - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - 1,773 - 717 1,245 340
Net Cash position 1 - 2,947 - 2,932 - - -
Leverage (Debt/EBITDA) - - 0.2815 x - 0.1293 x 0.1264 x 0.2485 x
Free Cash Flow 1 3,790 595 -2,376 8,432 5,004 934 2,403
ROE (net income / shareholders' equity) 16.7% 16.7% 25.3% 22.8% 12.7% 19.3% 14.2%
ROA (Net income/ Total Assets) 6.48% 6.16% 7.94% 7.31% 4.83% 7.31% 5.6%
Assets 1 - 35,598 46,741 55,313 51,900 59,807 58,786
Book Value Per Share 2 - 46.10 54.20 67.10 67.80 79.30 79.20
Cash Flow per Share - - - - - - -
Capex 1 1,068 2,836 6,313 2,084 1,343 2,600 2,217
Capex / Sales 2.82% 6.85% 9.61% 3.04% 2.89% 4% 3.76%
Announcement Date 19/03/20 19/03/21 15/03/22 10/03/23 13/03/24 - -
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
3
Last Close Price
118.5 TWD
Average target price
127 TWD
Spread / Average Target
+7.17%
Consensus
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