Company Valuation: APAC Opto Electronics Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,487 2,495 2,343 6,594 7,657 6,187
Change - 0.31% -6.11% 181.47% 16.13% -19.2%
Enterprise Value (EV) 1 1,512 1,463 1,175 5,535 6,556 5,041
Change - -3.29% -19.65% 370.96% 18.44% -23.11%
P/E 20.6x 17.3x 9.1x 32.3x 34.8x 40.2x
PBR 1.63x 1.58x 1.38x 3.95x 4.49x 3.58x
PEG - 0.9x 0.1x -1.6x 4.54x -1.3x
Capitalization / Revenue 3.36x 3.2x 2.65x 7x 8.18x 7.59x
EV / Revenue 2.04x 1.88x 1.33x 5.88x 7x 6.19x
EV / EBITDA 8.21x 7.27x 4.66x 24.2x 29.1x 25.2x
EV / EBIT 9.51x 8.25x 5.1x 26.7x 32.3x 28.8x
EV / FCF 21.5x 12.9x 7.44x 86.5x 35.8x 38.6x
FCF Yield 4.64% 7.77% 13.4% 1.16% 2.79% 2.59%
Dividend per Share 2 1.1 1.8 3 2.4 1.75 1
Rate of return 3.46% 5.64% 10% 2.85% 1.79% 1.26%
EPS 2 1.54 1.84 3.29 2.61 2.81 1.97
Distribution rate 71.4% 97.8% 91.2% 92% 62.3% 50.8%
Net sales 1 740.8 778.9 884.8 941.4 936.2 814.7
EBITDA 1 184.2 201.2 252.3 228.5 225.7 200
EBIT 1 159 177.4 230.2 207.3 202.9 174.8
Net income 1 121.4 145.2 260.9 205.4 220.3 154.5
Net Debt 1 -974.9 -1,032 -1,167 -1,059 -1,102 -1,146
Reference price 2 31.80 31.90 29.95 84.30 97.90 79.10
Nbr of stocks (in thousands) 78,217 78,217 78,217 78,217 78,217 78,217
Announcement Date 3/31/21 3/31/22 3/31/23 3/29/24 3/28/25 3/27/26
1TWD in Million2TWD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 303M
34.88x12.16x22.19x0.79% 115B
42.29x6.35x29.79x1.87% 38.81B
25.31x1.15x13.63x-.--% 37.74B
22.62x1.83x8.78x1.47% 31.81B
30.23x4.62x18.41x-.--% 29.27B
33.26x2.17x15.45x1.55% 28.83B
10.75x6.09x16.91x1.2% 26.48B
29.8x4.57x18.28x0.77% 17.11B
28.84x1.56x13.62x0.44% 13.79B
Average 28.66x 4.50x 17.45x 0.9% 33.9B
Weighted average by Cap. 30.58x 6.50x 18.99x 0.9%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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