Financials TrueLight Corporation

Equities

3234

TW0003234001

Semiconductors

End-of-day quote Taipei Exchange 23:00:00 13/05/2024 BST 5-day change 1st Jan Change
48.5 TWD -2.32% Intraday chart for TrueLight Corporation +1.04% +76.68%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 2,449 2,815 3,407 2,168 1,614 2,648
Enterprise Value (EV) 1 3,611 3,821 4,157 2,738 2,079 2,892
P/E ratio -13.1 x -8.44 x 466 x -16.3 x -61.6 x -5.86 x
Yield - - - - - -
Capitalization / Revenue 1.22 x 1.93 x 2.24 x 1.65 x 1.63 x 4.2 x
EV / Revenue 1.79 x 2.62 x 2.73 x 2.08 x 2.1 x 4.59 x
EV / EBITDA 21.8 x 139 x 11.6 x 18.6 x 18.7 x -14.4 x
EV / FCF 775 x 8.81 x 15.2 x 12.7 x 14.5 x -94.2 x
FCF Yield 0.13% 11.3% 6.57% 7.89% 6.9% -1.06%
Price to Book 2.15 x 3.15 x 3.75 x 2.75 x 2.1 x 3.6 x
Nbr of stocks (in thousands) 74,908 75,989 76,475 76,475 76,475 96,475
Reference price 2 32.70 37.05 44.55 28.35 21.10 27.45
Announcement Date 29/03/19 31/03/20 29/03/21 28/03/22 28/03/23 29/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,013 1,457 1,522 1,314 989.6 630.3
EBITDA 1 165.5 27.47 359 147.6 111 -200.6
EBIT 1 -186.2 -307.4 42.21 -120.7 -58.33 -328.6
Operating Margin -9.25% -21.1% 2.77% -9.18% -5.89% -52.14%
Earnings before Tax (EBT) 1 -183.9 -323.4 7.738 -133.7 -46.3 -420.7
Net income 1 -180.2 -321.4 7.257 -132.8 -26.19 -390.4
Net margin -8.95% -22.06% 0.48% -10.11% -2.65% -61.95%
EPS 2 -2.500 -4.390 0.0956 -1.744 -0.3424 -4.685
Free Cash Flow 1 4.657 433.7 273.3 216 143.4 -30.7
FCF margin 0.23% 29.77% 17.96% 16.44% 14.49% -4.87%
FCF Conversion (EBITDA) 2.81% 1,578.49% 76.13% 146.33% 129.23% -
FCF Conversion (Net income) - - 3,766.1% - - -
Dividend per Share - - - - - -
Announcement Date 29/03/19 31/03/20 29/03/21 28/03/22 28/03/23 29/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1
Net sales 1 322.3 292.3
EBITDA 1 32.62 43.8
EBIT 1 -28.47 -10.08
Operating Margin -8.83% -3.45%
Earnings before Tax (EBT) 1 -32.81 -13.58
Net income 1 -29.34 -9.566
Net margin -9.1% -3.27%
EPS 2 -0.3800 -0.1300
Dividend per Share - -
Announcement Date 25/03/22 12/05/22
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,161 1,006 750 570 465 243
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 7.018 x 36.62 x 2.09 x 3.865 x 4.189 x -1.213 x
Free Cash Flow 1 4.66 434 273 216 143 -30.7
ROE (net income / shareholders' equity) -14.8% -31.5% 0.18% -16.4% -5.89% -57.6%
ROA (Net income/ Total Assets) -3.7% -7.24% 1.18% -3.88% -2.13% -13.9%
Assets 1 4,867 4,442 614.9 3,424 1,230 2,801
Book Value Per Share 2 15.20 11.80 11.90 10.30 10.10 7.620
Cash Flow per Share 2 4.070 2.860 2.480 2.420 3.310 2.250
Capex 1 157 24.3 88 48.1 16.3 38.2
Capex / Sales 7.82% 1.67% 5.78% 3.66% 1.65% 6.06%
Announcement Date 29/03/19 31/03/20 29/03/21 28/03/22 28/03/23 29/03/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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