ASPEED TECHNOLOGY INC. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,020 TWD | +4.50% |
|
+0.67% | -3.21% |
| Mar. 14 | ASPEED Technology Inc. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Mar. 11 | ASPEED Technology Inc. Approves Cash Dividend for the Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 32,783 | 58,859 | 122,540 | 63,728 | 118,001 | 114,218 | - | - |
| Enterprise Value (EV) 1 | 31,308 | 57,396 | 120,586 | 60,924 | 116,016 | 111,328 | 109,841 | 108,169 |
| P/E ratio | 39.3 x | 58.4 x | 93.4 x | 30.4 x | 117 x | 63 x | 42.7 x | 28.5 x |
| Yield | 1.88% | 1.52% | 0.98% | 2.67% | 0.64% | 1.21% | 1.83% | 2.79% |
| Capitalization / Revenue | 13.2 x | 19.2 x | 33.7 x | 12.2 x | 37.7 x | 23.9 x | 16.9 x | 11.2 x |
| EV / Revenue | 12.6 x | 18.7 x | 33.1 x | 11.7 x | 37.1 x | 23.3 x | 16.2 x | 10.6 x |
| EV / EBITDA | 26.9 x | 38.8 x | 64.4 x | 22.7 x | 83.7 x | 52.3 x | 32.1 x | 20.6 x |
| EV / FCF | 34 x | 52.7 x | 75.6 x | 27.8 x | 297 x | 64.5 x | 41.5 x | - |
| FCF Yield | 2.94% | 1.9% | 1.32% | 3.59% | 0.34% | 1.55% | 2.41% | - |
| Price to Book | 12.4 x | 19.5 x | 34.6 x | 14.2 x | 30.8 x | 21.5 x | 21.5 x | 14.8 x |
| Nbr of stocks (in thousands) | 37,603 | 37,752 | 37,810 | 37,821 | 37,821 | 37,821 | - | - |
| Reference price 2 | 871.8 | 1,559 | 3,241 | 1,685 | 3,120 | 3,020 | 3,020 | 3,020 |
| Announcement Date | 3/2/20 | 3/8/21 | 3/8/22 | 3/23/23 | 3/14/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,484 | 3,064 | 3,638 | 5,210 | 3,130 | 4,774 | 6,776 | 10,170 |
| EBITDA 1 | 1,163 | 1,478 | 1,871 | 2,689 | 1,385 | 2,128 | 3,418 | 5,243 |
| EBIT 1 | 1,008 | 1,271 | 1,652 | 2,449 | 1,080 | 2,052 | 3,240 | 5,217 |
| Operating Margin | 40.59% | 41.48% | 45.42% | 47% | 34.49% | 42.99% | 47.82% | 51.3% |
| Earnings before Tax (EBT) 1 | 1,011 | 1,227 | 1,610 | 2,615 | 1,195 | 2,222 | 3,330 | - |
| Net income 1 | 831.2 | 1,005 | 1,313 | 2,106 | 1,007 | 1,850 | 2,730 | 3,999 |
| Net margin | 33.46% | 32.79% | 36.09% | 40.41% | 32.16% | 38.76% | 40.29% | 39.32% |
| EPS 2 | 22.17 | 26.71 | 34.70 | 55.35 | 26.66 | 47.96 | 70.73 | 105.9 |
| Free Cash Flow 1 | 919.7 | 1,090 | 1,595 | 2,189 | 390 | 1,726 | 2,650 | - |
| FCF margin | 37.02% | 35.57% | 43.84% | 42.02% | 12.46% | 36.15% | 39.11% | - |
| FCF Conversion (EBITDA) | 79.1% | 73.71% | 85.23% | 81.41% | 28.15% | 81.11% | 77.52% | - |
| FCF Conversion (Net income) | 110.64% | 108.45% | 121.46% | 103.97% | 38.74% | 93.27% | 97.06% | - |
| Dividend per Share 2 | 16.36 | 23.64 | 31.82 | 45.00 | 20.00 | 36.47 | 55.19 | 84.40 |
| Announcement Date | 3/2/20 | 3/8/21 | 3/8/22 | 3/23/23 | 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 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 939 | 1,031 | 1,152 | 1,425 | 1,307 | 1,327 | 669.4 | 674.2 | 796.7 | 984.2 | 1,004 | 1,096 | 1,262 | 1,421 | 1,314 |
| EBITDA 1 | 496.1 | 551.2 | 601.7 | 751.4 | - | 685 | 288.2 | 291.6 | 339.5 | 466.2 | 440 | 503.3 | 585 | 696.7 | 699.6 |
| EBIT 1 | 441 | 496 | 545.5 | 694.2 | 592.6 | 616.6 | 209.4 | 214.9 | 263.2 | 392 | 392.4 | 454.9 | 562.7 | 640.2 | 587.4 |
| Operating Margin | 46.97% | 48.09% | 47.37% | 48.71% | 45.35% | 46.48% | 31.29% | 31.88% | 33.04% | 39.83% | 39.1% | 41.51% | 44.58% | 45.04% | 44.71% |
| Earnings before Tax (EBT) 1 | 433.7 | 497.2 | 589.1 | 711.4 | 746.1 | 568.3 | 229.4 | 283.3 | 339.5 | 342.6 | 419 | 487.3 | 607.7 | 708.7 | 537 |
| Net income 1 | 344.3 | 420.4 | 468.1 | 563.4 | 598.3 | 475.8 | 186.3 | 240.4 | 270.5 | 309.7 | 353.7 | 401.6 | 486 | 564 | 503.7 |
| Net margin | 36.66% | 40.76% | 40.65% | 39.53% | 45.79% | 35.86% | 27.83% | 35.65% | 33.95% | 31.47% | 35.24% | 36.65% | 38.5% | 39.68% | 38.34% |
| EPS 2 | 9.100 | 11.12 | 12.37 | 14.87 | 15.77 | 12.42 | 4.920 | 6.370 | 7.150 | 8.200 | 9.234 | 10.48 | 12.70 | 14.73 | 13.33 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | 38.33 | - | - |
| Announcement Date | 11/9/21 | 3/8/22 | 5/10/22 | 8/12/22 | 11/11/22 | 3/23/23 | 5/12/23 | 8/10/23 | 11/13/23 | 3/14/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 1,475 | 1,463 | 1,954 | 2,804 | 1,984 | 2,890 | 4,378 | 6,050 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 920 | 1,090 | 1,595 | 2,189 | 390 | 1,726 | 2,650 | - |
| ROE (net income / shareholders' equity) | 33.5% | 34.8% | 40.1% | 52.4% | 24.2% | 41.7% | 59% | 48.6% |
| ROA (Net income/ Total Assets) | 26.6% | 26.6% | 31.8% | 40.2% | 19.2% | 30.1% | 40.2% | - |
| Assets 1 | 3,126 | 3,771 | 4,134 | 5,242 | 5,236 | 6,146 | 6,797 | - |
| Book Value Per Share 2 | 70.00 | 79.90 | 93.80 | 119.0 | 101.0 | 141.0 | 141.0 | 204.0 |
| Cash Flow per Share 2 | 29.80 | 31.90 | 44.60 | 75.90 | 38.80 | 50.60 | 70.60 | - |
| Capex 1 | 81.6 | 87 | 93.1 | 120 | 129 | 117 | 122 | 200 |
| Capex / Sales | 3.29% | 2.84% | 2.56% | 2.31% | 4.11% | 2.44% | 1.8% | 1.97% |
| Announcement Date | 3/2/20 | 3/8/21 | 3/8/22 | 3/23/23 | 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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
3,020
TWD
Average target price
3,343
TWD
Spread / Average Target
+10.70%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -3.21% | 3.5B | |
| +77.16% | 2,159B | |
| +20.41% | 623B | |
| +31.87% | 622B | |
| +6.78% | 254B | |
| +14.54% | 185B | |
| +4.12% | 162B | |
| -36.56% | 136B | |
| +34.57% | 127B | |
| +35.67% | 105B |
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