Financials Top Bright Holding Co., Ltd.

Equities

8499

KYG8923R1002

Electronic Equipment & Parts

End-of-day quote Taiwan S.E. 23:00:00 16/05/2024 BST 5-day change 1st Jan Change
119.5 TWD +1.27% Intraday chart for Top Bright Holding Co., Ltd. +4.37% -7.00%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 4,595 5,539 7,077 6,793 5,175 4,265
Enterprise Value (EV) 1 3,728 4,604 5,442 4,571 -3,486 -3,963
P/E ratio 11.3 x 13.5 x 11.8 x 9.8 x 6.65 x 12.6 x
Yield 5.58% 4.63% 5.8% 6.11% 2% 3.11%
Capitalization / Revenue 2.79 x 2.98 x 3 x 2.55 x 2.24 x 2.31 x
EV / Revenue 2.26 x 2.48 x 2.3 x 1.72 x -1.51 x -2.14 x
EV / EBITDA 7.43 x 8.02 x 5.99 x 4.3 x -4.34 x -8.62 x
EV / FCF 98.4 x 17.8 x 18 x 7.71 x -6.27 x -252 x
FCF Yield 1.02% 5.6% 5.56% 13% -16% -0.4%
Price to Book 2.64 x 2.99 x 2.32 x 2.03 x 0.7 x 0.71 x
Nbr of stocks (in thousands) 41,029 41,029 41,029 41,484 41,486 33,188
Reference price 2 112.0 135.0 172.5 163.8 124.8 128.5
Announcement Date 15/03/19 19/03/20 21/05/21 31/03/22 25/05/23 15/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,647 1,856 2,361 2,660 2,309 1,849
EBITDA 1 501.8 574.4 909.1 1,062 802.8 459.8
EBIT 1 473.3 534.5 864.2 1,018 756.3 400.6
Operating Margin 28.74% 28.8% 36.6% 38.28% 32.75% 21.67%
Earnings before Tax (EBT) 1 528 549.4 802.8 1,050 1,029 708.2
Net income 1 409 417.7 636.2 733.2 816.6 424.5
Net margin 24.83% 22.51% 26.95% 27.57% 35.36% 22.96%
EPS 2 9.900 10.03 14.60 16.70 18.77 10.23
Free Cash Flow 1 37.87 258 302.4 593.1 556.1 15.74
FCF margin 2.3% 13.9% 12.81% 22.3% 24.08% 0.85%
FCF Conversion (EBITDA) 7.55% 44.92% 33.27% 55.83% 69.27% 3.42%
FCF Conversion (Net income) 9.26% 61.78% 47.54% 80.9% 68.1% 3.71%
Dividend per Share 2 6.250 6.250 10.00 10.00 2.500 4.000
Announcement Date 15/03/19 19/03/20 21/05/21 31/03/22 25/05/23 15/03/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 867 935 1,636 2,222 8,661 8,228
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 37.9 258 302 593 556 15.7
ROE (net income / shareholders' equity) 23.8% 23% 24.9% 23.3% 12.9% 5.4%
ROA (Net income/ Total Assets) 13.3% 12.6% 14.4% 13.3% 5.65% 2.18%
Assets 1 3,086 3,316 4,431 5,532 14,453 19,432
Book Value Per Share 2 42.50 45.10 74.30 80.80 179.0 181.0
Cash Flow per Share 2 17.10 30.70 57.20 68.70 195.0 193.0
Capex 1 138 134 176 109 130 360
Capex / Sales 8.37% 7.22% 7.44% 4.09% 5.64% 19.45%
Announcement Date 15/03/19 19/03/20 21/05/21 31/03/22 25/05/23 15/03/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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