ELITE MATERIAL CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 408.5 TWD | -1.68% |
|
-5.11% | +6.94% |
| May. 29 | Elite Material Co., Ltd. Appoints Shouzhen, Cheng to the Members of the Company's Audit Committee | CI |
| May. 29 | Elite Material Co., Ltd. Appoints Shouzhen, Cheng as Independent Director | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 43,800 | 52,268 | 92,551 | 56,929 | 130,495 | 140,189 | - | - |
| Enterprise Value (EV) 1 | 40,552 | 48,262 | 89,851 | 56,003 | 131,212 | 136,463 | 130,760 | 120,421 |
| P/E ratio | 14.1 x | 14.2 x | 16.9 x | 11.5 x | 23.4 x | 15 x | 13.7 x | 12.2 x |
| Yield | 2.77% | 4.46% | 3.6% | - | 2.62% | 3.56% | 4.33% | 4.88% |
| Capitalization / Revenue | 1.76 x | 1.92 x | 2.4 x | 1.47 x | 3.16 x | 2.4 x | 2.22 x | 1.96 x |
| EV / Revenue | 1.63 x | 1.77 x | 2.33 x | 1.45 x | 3.18 x | 2.34 x | 2.07 x | 1.69 x |
| EV / EBITDA | 8.87 x | 9.12 x | 11.8 x | 8 x | 15.2 x | 9.88 x | 8.45 x | 6.88 x |
| EV / FCF | 30.3 x | 20.8 x | 57.9 x | 55.7 x | -335 x | 30.2 x | 15.3 x | 13.7 x |
| FCF Yield | 3.3% | 4.8% | 1.73% | 1.8% | -0.3% | 3.31% | 6.53% | 7.32% |
| Price to Book | 3.24 x | 3.12 x | 4.69 x | 2.58 x | 4.89 x | 4.4 x | 3.74 x | 3.11 x |
| Nbr of stocks (in thousands) | 319,708 | 332,918 | 332,918 | 332,918 | 341,611 | 343,179 | - | - |
| Reference price 2 | 137.0 | 157.0 | 278.0 | 171.0 | 382.0 | 408.5 | 408.5 | 408.5 |
| Announcement Date | 3/19/20 | 2/24/21 | 2/23/22 | 2/24/23 | 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 | 24,866 | 27,201 | 38,500 | 38,673 | 41,296 | 58,340 | 63,237 | 71,388 |
| EBITDA 1 | 4,572 | 5,292 | 7,642 | 7,000 | 8,648 | 13,815 | 15,471 | 17,507 |
| EBIT 1 | 4,080 | 4,683 | 6,923 | 6,225 | 7,346 | 11,992 | 13,347 | 15,529 |
| Operating Margin | 16.41% | 17.22% | 17.98% | 16.1% | 17.79% | 20.55% | 21.11% | 21.75% |
| Earnings before Tax (EBT) 1 | 4,204 | 4,844 | 6,912 | 6,296 | 7,420 | 11,891 | 12,686 | 14,670 |
| Net income 1 | 3,241 | 3,689 | 5,493 | 5,073 | 5,488 | 9,250 | 9,951 | 11,503 |
| Net margin | 13.03% | 13.56% | 14.27% | 13.12% | 13.29% | 15.85% | 15.74% | 16.11% |
| EPS 2 | 9.730 | 11.07 | 16.46 | 14.86 | 16.35 | 27.28 | 29.74 | 33.54 |
| Free Cash Flow 1 | 1,338 | 2,318 | 1,551 | 1,005 | -391.2 | 4,515 | 8,532 | 8,817 |
| FCF margin | 5.38% | 8.52% | 4.03% | 2.6% | -0.95% | 7.74% | 13.49% | 12.35% |
| FCF Conversion (EBITDA) | 29.27% | 43.79% | 20.3% | 14.36% | - | 32.68% | 55.15% | 50.36% |
| FCF Conversion (Net income) | 41.29% | 62.82% | 28.24% | 19.82% | - | 48.81% | 85.74% | 76.65% |
| Dividend per Share 2 | 3.800 | 7.000 | 10.00 | - | 10.00 | 14.55 | 17.68 | 19.94 |
| Announcement Date | 3/19/20 | 2/24/21 | 2/23/22 | 2/24/23 | 2/29/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 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 | 10,162 | 9,918 | 9,983 | 9,883 | 8,888 | 7,359 | 9,180 | 11,875 | 12,882 | 12,902 | 14,194 | 15,405 | 15,110 | 14,898 | 15,213 |
| EBITDA 1 | 2,029 | - | 1,638 | 1,787 | 1,730 | 1,044 | 1,911 | 2,857 | 2,837 | 2,939 | 3,305 | 3,814 | 3,699 | - | - |
| EBIT 1 | 1,843 | 1,651 | 1,454 | 1,598 | 1,523 | 769.2 | 1,619 | 2,506 | 2,451 | 2,536 | 2,881 | 3,311 | 3,150 | 3,026 | 3,093 |
| Operating Margin | 18.14% | 16.65% | 14.56% | 16.17% | 17.13% | 10.45% | 17.64% | 21.11% | 19.03% | 19.65% | 20.29% | 21.49% | 20.85% | 20.31% | 20.33% |
| Earnings before Tax (EBT) 1 | 1,825 | 1,668 | 1,448 | 1,630 | 1,549 | 729 | 1,588 | 2,574 | 2,528 | 2,614 | 3,002 | 3,250 | 3,069 | 2,840 | 3,073 |
| Net income 1 | 1,490 | 1,324 | 1,083 | 1,307 | 1,359 | 479.7 | 1,000 | 2,022 | 1,986 | 1,978 | 2,323 | 2,554 | 2,419 | 2,225 | 2,409 |
| Net margin | 14.66% | 13.35% | 10.85% | 13.23% | 15.29% | 6.52% | 10.9% | 17.03% | 15.42% | 15.33% | 16.37% | 16.58% | 16.01% | 14.94% | 15.84% |
| EPS 2 | 4.460 | 3.970 | 3.220 | 3.810 | 3.890 | 1.390 | 2.860 | 5.790 | 5.850 | 5.690 | 6.730 | 7.531 | 7.226 | 6.487 | 7.017 |
| Dividend per Share 2 | 3.000 | - | - | 10.00 | - | - | - | 8.453 | - | - | - | 8.770 | - | - | - |
| Announcement Date | 2/23/22 | 4/27/22 | 7/27/22 | 10/28/22 | 2/24/23 | 5/2/23 | 7/26/23 | 10/26/23 | 2/29/24 | 4/30/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | 716 | - | - | - |
| Net Cash position 1 | 3,248 | 4,006 | 2,700 | 926 | - | 3,726 | 9,428 | 19,768 |
| Leverage (Debt/EBITDA) | - | - | - | - | 0.0828 x | - | - | - |
| Free Cash Flow 1 | 1,338 | 2,318 | 1,551 | 1,005 | -391 | 4,515 | 8,533 | 8,817 |
| ROE (net income / shareholders' equity) | 25.5% | 24.4% | 30.1% | 24.3% | 22.5% | 31.9% | 29.9% | 28.3% |
| ROA (Net income/ Total Assets) | 13.6% | 13.8% | 17.1% | 12.7% | 11.3% | 16.7% | 16.6% | 19% |
| Assets 1 | 23,833 | 26,781 | 32,211 | 39,974 | 48,405 | 55,501 | 60,054 | 60,523 |
| Book Value Per Share 2 | 42.30 | 50.30 | 59.30 | 66.30 | 78.10 | 92.90 | 109.0 | 131.0 |
| Cash Flow per Share 2 | 7.380 | 10.50 | 12.10 | 21.80 | 8.310 | 26.30 | 37.10 | 39.10 |
| Capex 1 | 1,128 | 1,200 | 2,470 | 6,493 | 3,281 | 6,500 | 3,624 | 3,191 |
| Capex / Sales | 4.54% | 4.41% | 6.42% | 16.79% | 7.94% | 11.14% | 5.73% | 4.47% |
| Announcement Date | 3/19/20 | 2/24/21 | 2/23/22 | 2/24/23 | 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
B-
Sell
Buy
Mean consensus
BUY
Number of Analysts
13
Last Close Price
408.5
TWD
Average target price
551.2
TWD
Spread / Average Target
+34.92%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +6.94% | 4.31B | |
| +21.67% | 60.44B | |
| -17.54% | 14.87B | |
| +14.70% | 11.1B | |
| +33.96% | 9.54B | |
| +3.69% | 8.55B | |
| -8.14% | 8.34B | |
| +41.27% | 8.26B | |
| -10.22% | 7.75B | |
| -17.92% | 6.45B |
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