Financials Wistron NeWeb Corporation

Equities

6285

TW0006285000

Communications & Networking

End-of-day quote Taiwan S.E. 23:00:00 02/05/2024 BST 5-day change 1st Jan Change
152 TWD -0.33% Intraday chart for Wistron NeWeb Corporation +3.05% -2.56%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 29,470 30,895 30,932 30,983 75,261 73,711 - -
Enterprise Value (EV) 1 30,524 29,664 36,405 30,983 79,361 77,204 77,358 77,149
P/E ratio 20.4 x 20.9 x 25.2 x 10.6 x 18.1 x 15.6 x 13.2 x 10.5 x
Yield 3.31% 3.22% 2.69% - - 4.37% 5.42% 6.26%
Capitalization / Revenue 0.47 x 0.49 x 0.46 x 0.33 x 0.71 x 0.61 x 0.56 x 0.49 x
EV / Revenue 0.49 x 0.47 x 0.54 x 0.33 x 0.74 x 0.64 x 0.59 x 0.51 x
EV / EBITDA 10 x 9.71 x 14.9 x 6.16 x 11.7 x 8.99 x 7.6 x 6.68 x
EV / FCF 11.5 x 13.1 x -6.08 x - 19.3 x 35.5 x - -
FCF Yield 8.73% 7.63% -16.4% - 5.18% 2.82% - -
Price to Book 1.81 x 1.84 x 1.82 x - 2.47 x 2.16 x 2.06 x 1.9 x
Nbr of stocks (in thousands) 390,329 397,624 396,559 395,185 482,444 484,944 - -
Reference price 2 75.50 77.70 78.00 78.40 156.0 152.0 152.0 152.0
Announcement Date 10/03/20 17/03/21 18/01/22 10/03/23 11/03/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 62,240 62,649 67,230 95,257 106,709 120,275 130,781 151,923
EBITDA 1 3,041 3,055 2,439 5,028 6,756 8,590 10,177 11,542
EBIT 1 1,595 1,472 880.7 3,238 4,671 5,974 7,259 8,761
Operating Margin 2.56% 2.35% 1.31% 3.4% 4.38% 4.97% 5.55% 5.77%
Earnings before Tax (EBT) 1 1,884 1,726 1,412 3,760 4,801 5,762 7,195 8,833
Net income 1 1,461 1,467 1,232 3,122 3,803 4,513 5,583 6,978
Net margin 2.35% 2.34% 1.83% 3.28% 3.56% 3.75% 4.27% 4.59%
EPS 2 3.710 3.720 3.100 7.430 8.600 9.736 11.52 14.42
Free Cash Flow 1 2,665 2,263 -5,984 - 4,112 2,175 - -
FCF margin 4.28% 3.61% -8.9% - 3.85% 1.81% - -
FCF Conversion (EBITDA) 87.62% 74.06% - - 60.87% 25.32% - -
FCF Conversion (Net income) 182.38% 154.25% - - 108.14% 48.19% - -
Dividend per Share 2 2.500 2.501 2.100 - - 6.637 8.242 9.516
Announcement Date 10/03/20 17/03/21 18/01/22 10/03/23 11/03/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 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 2025 Q1
Net sales 1 17,330 19,053 19,456 20,176 26,531 29,095 25,266 26,627 29,210 29,685 25,579 30,368 31,967 32,361 27,948
EBITDA 1 641.3 584.6 669.5 1,052 1,658 1,649 1,312 - 2,037 1,872 1,866 2,218 2,436 2,429 -
EBIT 1 251.9 195.2 238.6 609.9 1,213 1,176 826.1 1,044 1,496 1,305 1,030 1,523 1,644 1,668 1,284
Operating Margin 1.45% 1.02% 1.23% 3.02% 4.57% 4.04% 3.27% 3.92% 5.12% 4.39% 4.03% 5.02% 5.14% 5.15% 4.59%
Earnings before Tax (EBT) 1 417.9 398.7 358.9 686.5 1,490 1,225 719.2 1,206 1,784 1,092 951.5 1,447 1,570 1,594 1,233
Net income 1 334.1 332.2 301.9 558.9 1,231 1,030 575.3 946.4 1,412 869.2 743 1,128 1,224 1,242 937
Net margin 1.93% 1.74% 1.55% 2.77% 4.64% 3.54% 2.28% 3.55% 4.83% 2.93% 2.9% 3.71% 3.83% 3.84% 3.35%
EPS 2 0.8400 0.8400 0.7600 1.400 2.840 2.360 1.320 2.180 3.310 1.880 1.665 2.490 2.695 2.735 1.930
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 05/11/21 18/01/22 06/05/22 03/08/22 03/11/22 10/03/23 10/05/23 31/07/23 01/11/23 11/03/24 - - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,055 - 5,473 - 4,100 3,492 3,646 3,438
Net Cash position 1 - 1,231 - - - - - -
Leverage (Debt/EBITDA) 0.3467 x - 2.244 x - 0.6069 x 0.4065 x 0.3583 x 0.2978 x
Free Cash Flow 1 2,665 2,263 -5,984 - 4,112 2,175 - -
ROE (net income / shareholders' equity) 9.13% 8.9% 7.29% - 15% 14.6% 16.4% 18.7%
ROA (Net income/ Total Assets) 4.32% 4.05% 2.99% - 5.63% 4.77% 5.23% -
Assets 1 33,800 36,185 41,218 - 67,546 94,615 106,751 -
Book Value Per Share 2 41.60 42.20 42.90 - 63.20 70.40 73.80 80.00
Cash Flow per Share 2 8.230 8.930 7.010 - 19.60 10.80 14.20 17.00
Capex 1 1,937 1,299 2,418 - 3,032 3,299 - -
Capex / Sales 3.11% 2.07% 3.6% - 2.84% 2.74% - -
Announcement Date 10/03/20 17/03/21 18/01/22 10/03/23 11/03/24 - - -
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
B
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
152 TWD
Average target price
171.8 TWD
Spread / Average Target
+12.99%
Consensus
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