Financials Acer Incorporated

Equities

2353

TW0002353000

Computer Hardware

End-of-day quote Taiwan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
44.55 TWD +0.34% Intraday chart for Acer Incorporated +1.71% -17.19%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 54,053 70,976 91,384 70,676 161,460 133,927 -
Enterprise Value (EV) 1 37,854 32,254 59,989 37,757 127,967 79,424 89,701
P/E ratio 20.5 x 11.9 x 8.39 x 14.1 x 32.8 x 22.3 x 19.9 x
Yield 4.31% 6.34% 7.49% 6.37% 2.97% 3.69% 4.2%
Capitalization / Revenue 0.23 x 0.26 x 0.29 x 0.26 x 0.67 x 0.52 x 0.48 x
EV / Revenue 0.16 x 0.12 x 0.19 x 0.14 x 0.53 x 0.31 x 0.32 x
EV / EBITDA 8.25 x 3.14 x 3.83 x 4.38 x 21.3 x 9.14 x 9.17 x
EV / FCF -23.6 x 1.2 x 10.1 x 6.92 x 10.5 x 22.8 x -9.01 x
FCF Yield -4.24% 83.4% 9.91% 14.5% 9.51% 4.39% -11.1%
Price to Book 0.95 x 1.18 x 1.43 x 2.02 x 2.17 x 1.75 x 1.69 x
Nbr of stocks (in thousands) 3,028,188 3,001,108 3,001,108 3,001,108 3,001,108 3,006,208 -
Reference price 2 17.85 23.65 30.45 23.55 53.80 44.55 44.55
Announcement Date 3/17/20 3/17/21 3/16/22 3/16/23 3/14/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 234,285 277,090 318,850 275,424 241,310 260,022 276,254
EBITDA 1 4,590 10,288 15,678 8,618 6,002 8,686 9,777
EBIT 1 3,078 8,936 14,163 6,928 4,230 6,856 7,898
Operating Margin 1.31% 3.22% 4.44% 2.52% 1.75% 2.64% 2.86%
Earnings before Tax (EBT) 1 3,712 8,905 15,436 7,874 7,799 9,386 10,178
Net income 1 2,633 6,029 10,897 5,004 4,930 6,057 6,562
Net margin 1.12% 2.18% 3.42% 1.82% 2.04% 2.33% 2.38%
EPS 2 0.8700 1.990 3.630 1.670 1.640 1.996 2.237
Free Cash Flow 1 -1,606 26,896 5,945 5,459 12,167 3,486 -9,961
FCF margin -0.69% 9.71% 1.86% 1.98% 5.04% 1.34% -3.61%
FCF Conversion (EBITDA) - 261.43% 37.92% 63.34% 202.73% 40.13% -
FCF Conversion (Net income) - 446.08% 54.56% 109.1% 246.8% 57.56% -
Dividend per Share 2 0.7700 1.500 2.280 1.500 1.600 1.642 1.873
Announcement Date 3/17/20 3/17/21 3/16/22 3/16/23 3/14/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 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 81,142 86,380 78,378 72,322 64,860 59,837 52,457 58,261 67,445 63,150 56,836 60,536 69,533 71,308
EBITDA 1 - 4,407 3,298 2,589 1,236 1,495 665 1,442 - 1,859 1,303 1,594 2,096 -
EBIT 1 3,467 3,911 2,914 2,170 829.6 1,011 239 1,046 1,546 1,390 1,076 1,385 1,734 2,027
Operating Margin 4.27% 4.53% 3.72% 3% 1.28% 1.69% 0.46% 1.8% 2.29% 2.2% 1.89% 2.29% 2.49% 2.84%
Earnings before Tax (EBT) 1 4,164 3,466 3,102 2,539 2,702 -469.2 942.4 2,220 2,977 1,659 1,664 2,045 2,988 2,338
Net income 1 3,018 2,240 2,235 1,724 1,880 -831.6 515.2 1,392 2,008 1,020 1,091 1,334 1,924 1,706
Net margin 3.72% 2.59% 2.85% 2.38% 2.9% -1.39% 0.98% 2.39% 2.98% 1.62% 1.92% 2.2% 2.77% 2.39%
EPS 2 1.000 0.7500 0.7400 0.5700 0.6200 -0.2700 0.1700 0.4600 0.6700 0.3400 0.3633 0.4456 0.6398 0.5675
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 11/3/21 3/16/22 5/5/22 8/4/22 11/3/22 3/16/23 5/4/23 8/3/23 11/3/23 3/14/24 - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - - - - -
Net Cash position 1 16,199 38,722 31,395 32,919 33,493 54,503 44,225
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 -1,606 26,896 5,945 5,459 12,167 3,486 -9,961
ROE (net income / shareholders' equity) 4.53% 10.2% 17.6% 7.72% 7.01% 8.58% 8.77%
ROA (Net income/ Total Assets) 1.7% 3.55% 5.47% 2.48% 2.48% 3.5% 3.6%
Assets 1 155,043 170,002 199,349 201,916 198,809 173,045 182,273
Book Value Per Share 2 18.80 20.10 21.20 11.60 24.80 25.40 26.40
Cash Flow per Share 2 -0.4600 8.990 2.150 1.960 4.220 3.710 2.630
Capex 1 225 328 553 475 516 475 480
Capex / Sales 0.1% 0.12% 0.17% 0.17% 0.21% 0.18% 0.17%
Announcement Date 3/17/20 3/17/21 3/16/22 3/16/23 3/14/24 - -
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
UNDERPERFORM
Number of Analysts
8
Last Close Price
44.55 TWD
Average target price
31.83 TWD
Spread / Average Target
-28.56%
Consensus
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