ADVANTECH CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 355 TWD | +1.57% |
|
-0.42% | -4.57% |
| Apr. 30 | Transcript : Advantech Co., Ltd., Q1 2024 Earnings Call, Apr 30, 2024 | |
| Apr. 29 | Advantech to Buy French POS Firm Aures Technologies | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 211,377 | 270,181 | 306,821 | 257,466 | 319,094 | 305,459 | - | - |
| Enterprise Value (EV) 1 | 202,043 | 257,160 | 294,086 | 246,108 | 298,250 | 291,347 | 288,785 | 284,852 |
| P/E ratio | 29.1 x | 37.8 x | 37.7 x | 24.2 x | 29.7 x | 29.9 x | 24.8 x | 22.3 x |
| Yield | 2.58% | 2.03% | 1.99% | - | 2.55% | 2.64% | 2.84% | 3.17% |
| Capitalization / Revenue | 3.9 x | 5.29 x | 5.23 x | 3.75 x | 4.94 x | 4.59 x | 4.04 x | 3.74 x |
| EV / Revenue | 3.73 x | 5.03 x | 5.02 x | 3.58 x | 4.62 x | 4.38 x | 3.82 x | 3.49 x |
| EV / EBITDA | 19.7 x | 25.7 x | 27 x | 18.1 x | 22.6 x | 23.3 x | 18.9 x | 16.6 x |
| EV / FCF | 38.6 x | 34.4 x | 36.3 x | 29.3 x | 35.2 x | 37.9 x | 27.6 x | 21 x |
| FCF Yield | 2.59% | 2.91% | 2.76% | 3.42% | 2.84% | 2.64% | 3.62% | 4.76% |
| Price to Book | 6.56 x | 7.85 x | 8.11 x | 8.13 x | 6.58 x | 6.15 x | 5.65 x | 5.01 x |
| Nbr of stocks (in thousands) | 846,707 | 849,045 | 851,110 | 855,532 | 857,779 | 860,448 | - | - |
| Reference price 2 | 249.6 | 318.2 | 360.5 | 300.9 | 372.0 | 355.0 | 355.0 | 355.0 |
| Announcement Date | 3/5/20 | 3/4/21 | 2/25/22 | 3/1/23 | 2/29/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 54,145 | 51,119 | 58,622 | 68,745 | 64,568 | 66,492 | 75,522 | 81,652 |
| EBITDA 1 | 10,251 | 10,005 | 10,897 | 13,589 | 13,214 | 12,523 | 15,280 | 17,145 |
| EBIT 1 | 9,234 | 9,037 | 9,800 | 12,532 | 12,128 | 11,514 | 14,213 | 15,885 |
| Operating Margin | 17.05% | 17.68% | 16.72% | 18.23% | 18.78% | 17.32% | 18.82% | 19.45% |
| Earnings before Tax (EBT) 1 | 9,308 | 9,128 | 10,255 | 13,443 | 13,267 | 12,717 | 15,615 | 17,643 |
| Net income 1 | 7,351 | 7,248 | 8,250 | 10,757 | 10,838 | 10,270 | 12,420 | 13,673 |
| Net margin | 13.58% | 14.18% | 14.07% | 15.65% | 16.78% | 15.45% | 16.45% | 16.75% |
| EPS 2 | 8.572 | 8.428 | 9.556 | 12.46 | 12.52 | 11.85 | 14.32 | 15.89 |
| Free Cash Flow 1 | 5,234 | 7,483 | 8,109 | 8,411 | 8,467 | 7,683 | 10,461 | 13,561 |
| FCF margin | 9.67% | 14.64% | 13.83% | 12.23% | 13.11% | 11.55% | 13.85% | 16.61% |
| FCF Conversion (EBITDA) | 51.05% | 74.79% | 74.41% | 61.89% | 64.07% | 61.35% | 68.46% | 79.1% |
| FCF Conversion (Net income) | 71.2% | 103.24% | 98.29% | 78.19% | 78.13% | 74.81% | 84.23% | 99.19% |
| Dividend per Share 2 | 6.448 | 6.455 | 7.183 | - | 9.500 | 9.370 | 10.08 | 11.26 |
| Announcement Date | 3/5/20 | 3/4/21 | 2/25/22 | 3/1/23 | 2/29/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S2 | 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 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 25,829 | 15,744 | 16,120 | 16,824 | 18,614 | 17,187 | 17,396 | 17,028 | 15,006 | 15,138 | 13,879 | 14,390 | 17,103 | 18,842 | 17,407 | 17,829 |
| EBITDA 1 | - | 2,982 | 3,273 | 3,370 | 3,645 | 3,301 | 3,765 | 3,693 | 2,780 | 2,975 | 2,195 | 2,562 | 3,651 | 4,444 | 3,540 | - |
| EBIT 1 | - | 2,709 | 3,015 | 3,108 | 3,378 | 3,031 | 3,502 | 3,430 | 2,506 | 2,691 | 1,917 | 2,236 | 3,166 | 3,702 | 3,268 | 3,586 |
| Operating Margin | - | 17.2% | 18.7% | 18.47% | 18.15% | 17.64% | 20.13% | 20.14% | 16.7% | 17.78% | 13.82% | 15.54% | 18.51% | 19.65% | 18.77% | 20.11% |
| Earnings before Tax (EBT) 1 | - | 2,678 | 3,170 | 3,138 | 3,967 | 3,169 | 3,680 | 3,769 | 3,088 | 2,730 | 2,397 | 2,447 | 3,411 | 3,833 | 3,420 | 3,808 |
| Net income 1 | - | 2,273 | 2,572 | 2,458 | 3,184 | 2,543 | 2,959 | 3,004 | 2,583 | 2,291 | 1,993 | 2,006 | 2,855 | 3,229 | 2,807 | 3,048 |
| Net margin | - | 14.44% | 15.96% | 14.61% | 17.11% | 14.8% | 17.01% | 17.64% | 17.21% | 15.13% | 14.36% | 13.94% | 16.69% | 17.14% | 16.13% | 17.1% |
| EPS 2 | - | 2.628 | 2.982 | 2.846 | 3.700 | 2.928 | 3.428 | 3.480 | 2.980 | 2.640 | 2.300 | 2.293 | 3.165 | 3.563 | 3.168 | 3.455 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/4/21 | 2/25/22 | 4/29/22 | 7/29/22 | 10/31/22 | 3/1/23 | 4/28/23 | 8/1/23 | 10/30/23 | 2/29/24 | 4/26/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 9,334 | 13,021 | 12,735 | 11,359 | 20,844 | 14,112 | 16,674 | 20,607 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 5,234 | 7,483 | 8,109 | 8,411 | 8,467 | 7,683 | 10,461 | 13,561 |
| ROE (net income / shareholders' equity) | 23.9% | 21.8% | 22.8% | 26.3% | 23.5% | 20.8% | 23.5% | 23.6% |
| ROA (Net income/ Total Assets) | 16.1% | 14.9% | 15.3% | 17.3% | 16% | 13.3% | 15.9% | 16.6% |
| Assets 1 | 45,578 | 48,708 | 54,014 | 62,107 | 67,735 | 77,497 | 78,346 | 82,595 |
| Book Value Per Share 2 | 38.10 | 40.50 | 44.40 | 37.00 | 56.60 | 57.80 | 62.90 | 70.90 |
| Cash Flow per Share 2 | 7.230 | 9.400 | 10.60 | 8.220 | 11.20 | 9.060 | 15.10 | 17.40 |
| Capex 1 | 962 | 596 | 1,022 | 1,320 | 1,198 | 1,071 | 993 | 1,030 |
| Capex / Sales | 1.78% | 1.17% | 1.74% | 1.92% | 1.85% | 1.61% | 1.32% | 1.26% |
| Announcement Date | 3/5/20 | 3/4/21 | 2/25/22 | 3/1/23 | 2/29/24 | - | - | - |
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
A
Sell
Buy
Mean consensus
HOLD
Number of Analysts
14
Last Close Price
355
TWD
Average target price
372
TWD
Spread / Average Target
+4.79%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -4.57% | 9.5B | |
| +27.84% | 34.42B | |
| -8.28% | 4.96B | |
| -10.69% | 4.49B | |
| -4.05% | 2.02B | |
| +42.51% | 1.06B | |
| +6.51% | 582M | |
| +8.26% | 210M | |
| +16.23% | 184M | |
| -3.66% | 78.34M |
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