Financials Icape Holding

Equities

ALICA

FR001400A3Q3

Semiconductors

Market Closed - Euronext Paris Other stock markets 11:19:31 2024-05-14 am EDT			5-day change	1st Jan Change
9.82 ^EUR	+0.20%		+2.29%	-24.46%

Mar. 27	Icape: 20% drop in annual net income	CF
Mar. 27	Icape Holding S.A. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	128.1	105.1	79.26	-	-
Enterprise Value (EV) ¹	143.7	105.1	105.4	101.3	99.66
P/E ratio	19.8 x	23.6 x	11.3 x	8.91 x	5.27 x
Yield	1.26%	-	2.55%	3.27%	5.71%
Capitalization / Revenue	0.58 x	0.59 x	0.37 x	0.33 x	0.26 x
EV / Revenue	0.65 x	0.59 x	0.49 x	0.42 x	0.32 x
EV / EBITDA	9.87 x	7.67 x	6.08 x	4.99 x	3.52 x
EV / FCF	-	-	15.5 x	8.44 x	6.15 x
FCF Yield	-	-	6.45%	11.8%	16.3%
Price to Book	-	-	2.25 x	1.99 x	-
Nbr of stocks (in thousands)	8,088	8,088	8,088	-	-
Reference price ²	15.84	13.00	9.800	9.800	9.800
Announcement Date	3/29/23	3/27/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	-	219.6	179.5	213.5	243.2	309.4
EBITDA ¹	-	14.56	13.7	17.35	20.3	28.3
EBIT ¹	-	10	8.9	11.95	14.75	22.7
Operating Margin	-	4.55%	4.96%	5.6%	6.06%	7.34%
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income ¹	2.451	5.3	4.2	7.05	8.9	15
Net margin	-	2.41%	2.34%	3.3%	3.66%	4.85%
EPS ²	0.4200	0.8000	0.5500	0.8650	1.100	1.860
Free Cash Flow ¹	-	-	-	6.8	12	16.2
FCF margin	-	-	-	3.19%	4.93%	5.24%
FCF Conversion (EBITDA)	-	-	-	39.19%	59.11%	57.24%
FCF Conversion (Net income)	-	-	-	96.45%	134.83%	108%
Dividend per Share ²	-	0.2000	-	0.2500	0.3200	0.5600
Announcement Date	4/20/22	3/29/23	3/27/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 S1
Net sales ¹	94.5
EBITDA ¹	7.1
EBIT ¹	3.9
Operating Margin	4.13%
Earnings before Tax (EBT) ¹	2.6
Net income ¹	1.9
Net margin	2.01%
EPS	-
Dividend per Share	-
Announcement Date	9/27/23

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	15.6	-	26.2	22.1	20.4
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	1.072 x	-	1.507 x	1.086 x	0.7208 x
Free Cash Flow ¹	-	-	-	6.8	12	16.2
ROE (net income / shareholders' equity)	-	-	-	21.2%	22.6%	30.9%
ROA (Net income/ Total Assets)	-	-	-	3.6%	4.3%	4.8%
Assets ¹	-	-	-	195.8	207	312.5
Book Value Per Share ²	-	-	-	4.360	4.930	-
Cash Flow per Share ²	-	0.4300	-	1.380	1.480	-
Capex ¹	-	-	-	2.45	2.65	3.8
Capex / Sales	-	-	-	1.15%	1.09%	1.23%
Announcement Date	4/20/22	3/29/23	3/27/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Icape Holding

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.8 EUR

Average target price

16 EUR

Spread / Average Target

+63.27%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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