Financials Sino-American Silicon Products Inc.

Equities

5483

TW0005483002

Semiconductors

End-of-day quote Taipei Exchange 06:00:00 2024-06-13 pm EDT 5-day change 1st Jan Change
210.5 TWD -0.47% Intraday chart for Sino-American Silicon Products Inc. -0.71% +7.40%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 58,272 104,054 138,348 81,778 114,899 117,706 - -
Enterprise Value (EV) 1 31,798 80,571 125,113 51,610 148,658 149,650 128,487 123,933
P/E ratio - 16.6 x 20.4 x 9.46 x 11.5 x 14.1 x 11.1 x 7.69 x
Yield 5.03% 1.97% 1.48% 6.45% - 4.56% 5.76% 8.41%
Capitalization / Revenue 0.89 x 1.69 x 2.01 x 1 x 1.4 x 1.38 x 1.18 x 0.99 x
EV / Revenue 0.49 x 1.31 x 1.82 x 0.63 x 1.81 x 1.76 x 1.29 x 1.05 x
EV / EBITDA 1.68 x 3.82 x 5.09 x 1.58 x 5.44 x 4.27 x 3.17 x 2.28 x
EV / FCF 2.83 x 14.6 x 5 x 2.05 x -8.37 x 121 x 8.25 x -
FCF Yield 35.3% 6.85% 20% 48.8% -11.9% 0.83% 12.1% -
Price to Book 2.18 x 3.69 x 4.85 x 2.57 x 3.58 x 3.02 x 2.7 x -
Nbr of stocks (in thousands) 586,237 586,222 586,222 586,222 586,222 559,172 - -
Reference price 2 99.40 177.5 236.0 139.5 196.0 210.5 210.5 210.5
Announcement Date 3/19/20 3/19/21 3/18/22 3/16/23 3/1/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 65,510 61,397 68,841 81,871 81,966 85,183 99,441 118,424
EBITDA 1 18,911 21,080 24,591 32,690 27,306 35,059 40,571 54,460
EBIT 1 13,515 14,932 18,080 25,400 18,607 17,991 25,351 35,250
Operating Margin 20.63% 24.32% 26.26% 31.02% 22.7% 21.12% 25.49% 29.77%
Earnings before Tax (EBT) 1 - 16,238 17,206 20,829 24,549 24,784 27,745 -
Net income 1 - 6,326 6,811 8,716 9,844 8,791 11,182 16,174
Net margin - 10.3% 9.89% 10.65% 12.01% 10.32% 11.25% 13.66%
EPS 2 - 10.71 11.56 14.75 16.99 14.88 19.00 27.37
Free Cash Flow 1 11,217 5,518 25,037 25,185 -17,763 1,239 15,572 -
FCF margin 17.12% 8.99% 36.37% 30.76% -21.67% 1.45% 15.66% -
FCF Conversion (EBITDA) 59.32% 26.18% 101.81% 77.04% - 3.53% 38.38% -
FCF Conversion (Net income) - 87.22% 367.59% 288.96% - 14.09% 139.25% -
Dividend per Share 2 5.000 3.500 3.500 9.000 - 9.600 12.13 17.70
Announcement Date 3/19/20 3/19/21 3/18/22 3/16/23 3/1/24 - - -
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
Net sales 1 18,084 - - 21,626 21,205 20,904 - 19,601 21,143 19,692 21,500 22,742 23,825
EBITDA 1 6,622 - 8,497 8,575 7,767 7,848 7,177 6,820 5,461 6,693 7,743 8,329 8,822
EBIT 1 4,982 - - 6,658 5,732 5,798 - 4,647 3,072 4,355 5,350 5,835 6,229
Operating Margin 27.55% - - 30.79% 27.03% 27.74% - 23.71% 14.53% 22.12% 24.88% 25.66% 26.14%
Earnings before Tax (EBT) 1 3,956 - - 7,478 8,159 6,608 - 7,062 4,163 5,066 6,295 6,333 6,639
Net income 1 1,403 1,265 - 3,095 2,535 2,469 - 2,694 2,248 1,902 2,344 2,386 2,522
Net margin 7.76% - - 14.31% 11.95% 11.81% - 13.74% 10.63% 9.66% 10.9% 10.49% 10.59%
EPS 2 2.380 2.150 - 5.280 4.250 4.180 - 4.590 4.030 3.390 4.000 4.070 4.300
Dividend per Share - - - - - - - - - - - - -
Announcement Date 3/18/22 5/6/22 9/16/22 11/4/22 3/16/23 5/8/23 8/9/23 11/13/23 3/1/24 5/13/24 - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - 33,759 31,944 10,781 6,227
Net Cash position 1 26,474 23,484 13,235 30,168 - - - -
Leverage (Debt/EBITDA) - - - - 1.236 x 0.9111 x 0.2657 x 0.1143 x
Free Cash Flow 1 11,217 5,518 25,037 25,185 -17,763 1,239 15,572 -
ROE (net income / shareholders' equity) 8.4% 23.1% 24% 28.9% 30.9% 7.4% 20% 11.5%
ROA (Net income/ Total Assets) 2.11% 5.77% 4.91% 4.79% 4.66% 3.2% 4.2% 5.5%
Assets 1 - 109,659 138,602 181,932 211,051 274,719 266,250 294,073
Book Value Per Share 2 45.60 48.00 48.70 54.40 54.80 69.70 77.80 -
Cash Flow per Share 2 - 24.70 52.60 65.70 34.40 43.00 52.10 -
Capex 1 7,614 9,063 6,011 13,616 37,838 52,000 22,600 11,000
Capex / Sales 11.62% 14.76% 8.73% 16.63% 46.16% 61.05% 22.73% 9.29%
Announcement Date 3/19/20 3/19/21 3/18/22 3/16/23 3/1/24 - - -
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
OUTPERFORM
Number of Analysts
4
Last Close Price
210.5 TWD
Average target price
208 TWD
Spread / Average Target
-1.16%
Consensus
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