Financials Bright LED Electronics Corp.

Equities

3031

TW0003031001

Semiconductors

End-of-day quote Taiwan S.E. 06:00:00 2024-05-16 pm EDT 5-day change 1st Jan Change
21 TWD -0.71% Intraday chart for Bright LED Electronics Corp. +1.20% +13.51%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,969 3,009 2,721 4,477 2,598 3,204
Enterprise Value (EV) 1 1,176 2,402 1,995 3,540 1,744 2,484
P/E ratio 18.8 x 13.1 x 21.4 x 18 x 13 x 17.8 x
Yield 4.93% 4.93% 5.05% 3.87% 5.67% 4.32%
Capitalization / Revenue 1.19 x 1.71 x 1.98 x 2.92 x 1.72 x 2.83 x
EV / Revenue 0.71 x 1.36 x 1.45 x 2.31 x 1.16 x 2.19 x
EV / EBITDA 9.75 x 10.9 x 11.1 x 16.4 x 10.6 x 22 x
EV / FCF 5.35 x 17.5 x 8.07 x 14.9 x 15.4 x 15 x
FCF Yield 18.7% 5.73% 12.4% 6.73% 6.51% 6.65%
Price to Book 0.74 x 1.08 x 1.01 x 1.54 x 0.91 x 1.09 x
Nbr of stocks (in thousands) 186,674 180,204 171,674 173,203 173,203 173,203
Reference price 2 10.55 16.70 15.85 25.85 15.00 18.50
Announcement Date 3/27/19 3/25/20 3/24/21 3/28/22 3/27/23 3/20/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,651 1,764 1,376 1,532 1,509 1,133
EBITDA 1 120.7 219.4 180.3 215.7 165 112.8
EBIT 1 24.27 139.7 107.7 158.5 117.6 68.48
Operating Margin 1.47% 7.92% 7.83% 10.35% 7.79% 6.05%
Earnings before Tax (EBT) 1 111.3 258.9 182.1 304.2 211.6 223.5
Net income 1 109 234.5 128.1 249.2 200.4 181.5
Net margin 6.6% 13.3% 9.31% 16.27% 13.28% 16.03%
EPS 2 0.5600 1.270 0.7396 1.440 1.150 1.040
Free Cash Flow 1 219.8 137.6 247.2 238.4 113.5 165.2
FCF margin 13.32% 7.8% 17.97% 15.56% 7.52% 14.59%
FCF Conversion (EBITDA) 182.15% 62.74% 137.13% 110.51% 68.81% 146.43%
FCF Conversion (Net income) 201.64% 58.69% 192.97% 95.65% 56.64% 91%
Dividend per Share 2 0.5200 0.8233 0.8000 1.000 0.8500 0.8000
Announcement Date 3/27/19 3/25/20 3/24/21 3/28/22 3/27/23 3/20/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 793 608 726 937 854 720
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 220 138 247 238 113 165
ROE (net income / shareholders' equity) 3.08% 8.31% 4.7% 8.65% 6.5% 5.91%
ROA (Net income/ Total Assets) 0.44% 2.54% 1.92% 2.77% 2.03% 1.2%
Assets 1 24,677 9,247 6,673 8,988 9,857 15,133
Book Value Per Share 2 14.30 15.50 15.70 16.80 16.50 17.00
Cash Flow per Share 2 4.130 4.430 4.990 4.400 5.070 3.530
Capex 1 34.1 11.8 8.49 27 4.83 9.27
Capex / Sales 2.06% 0.67% 0.62% 1.76% 0.32% 0.82%
Announcement Date 3/27/19 3/25/20 3/24/21 3/28/22 3/27/23 3/20/24
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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