CHICONY ELECTRONICS CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 202.5 TWD | +0.75% |
|
+1.76% | +15.71% |
| Apr. 16 | Chicony Electronics Co., Ltd. Announces Cash Dividend for the Year 2023 | CI |
| Mar. 13 | Chicony Electronics Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 61,477 | 60,521 | 58,263 | 61,660 | 126,471 | 146,703 | - |
| Enterprise Value (EV) 1 | 51,913 | 50,829 | 58,161 | 52,402 | 126,471 | 125,163 | 121,039 |
| P/E ratio | 10.7 x | 11.2 x | 9.45 x | 8.58 x | 16.9 x | 16.2 x | 14.4 x |
| Yield | 6.63% | 6.38% | 7.41% | 8.69% | - | 4.5% | 5.01% |
| Capitalization / Revenue | 0.66 x | 0.64 x | 0.54 x | 0.53 x | 1.29 x | 1.36 x | 1.21 x |
| EV / Revenue | 0.56 x | 0.53 x | 0.54 x | 0.45 x | 1.29 x | 1.16 x | 1 x |
| EV / EBITDA | 6.04 x | 5 x | 5.03 x | 3.85 x | - | 8.26 x | 6.76 x |
| EV / FCF | 6.26 x | 9.78 x | 41.6 x | 3.58 x | - | 22.9 x | 13.5 x |
| FCF Yield | 16% | 10.2% | 2.41% | 27.9% | - | 4.37% | 7.39% |
| Price to Book | 2.28 x | 2.18 x | 1.91 x | 1.73 x | - | 3.58 x | 3.21 x |
| Nbr of stocks (in thousands) | 690,758 | 702,098 | 707,930 | 714,483 | 722,690 | 724,460 | - |
| Reference price 2 | 89.00 | 86.20 | 82.30 | 86.30 | 175.0 | 202.5 | 202.5 |
| Announcement Date | 3/9/20 | 3/9/21 | 3/9/22 | 3/8/23 | 3/13/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 92,552 | 95,082 | 107,474 | 115,748 | 98,323 | 107,979 | 120,975 |
| EBITDA 1 | 8,596 | 10,173 | 11,573 | 13,610 | - | 15,161 | 17,908 |
| EBIT 1 | 6,232 | 7,663 | 8,613 | 10,418 | 9,409 | 11,825 | 13,931 |
| Operating Margin | 6.73% | 8.06% | 8.01% | 9% | 9.57% | 10.95% | 11.52% |
| Earnings before Tax (EBT) 1 | 8,189 | 8,218 | 9,452 | 11,197 | 11,273 | 13,766 | 15,578 |
| Net income 1 | 5,839 | 5,467 | 6,154 | 7,320 | 7,464 | 9,139 | 10,323 |
| Net margin | 6.31% | 5.75% | 5.73% | 6.32% | 7.59% | 8.46% | 8.53% |
| EPS 2 | 8.330 | 7.680 | 8.710 | 10.06 | 10.35 | 12.50 | 14.08 |
| Free Cash Flow 1 | 8,298 | 5,195 | 1,399 | 14,636 | - | 5,472 | 8,939 |
| FCF margin | 8.97% | 5.46% | 1.3% | 12.64% | - | 5.07% | 7.39% |
| FCF Conversion (EBITDA) | 96.54% | 51.06% | 12.09% | 107.54% | - | 36.1% | 49.91% |
| FCF Conversion (Net income) | 142.13% | 95.03% | 22.73% | 199.94% | - | 59.88% | 86.59% |
| Dividend per Share 2 | 5.900 | 5.500 | 6.100 | 7.500 | - | 9.122 | 10.15 |
| Announcement Date | 3/9/20 | 3/9/21 | 3/9/22 | 3/8/23 | 3/13/24 | - | - |
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 | 27,349 | 29,695 | 28,846 | 28,652 | 30,648 | 27,603 | 22,722 | 25,363 | 25,809 | 24,429 | 22,975 | 25,795 | 29,903 | 29,046 | 25,942 |
| EBITDA 1 | - | 3,261 | 3,234 | - | - | 3,131 | 2,568 | 2,797 | 3,755 | - | 2,971 | 3,455 | 4,372 | 4,150 | - |
| EBIT 1 | 2,449 | 2,468 | 2,462 | 2,513 | 3,118 | 2,325 | 1,786 | 2,033 | 3,001 | 2,588 | 2,141 | 2,699 | 3,549 | 3,350 | 2,628 |
| Operating Margin | 8.95% | 8.31% | 8.54% | 8.77% | 10.17% | 8.42% | 7.86% | 8.02% | 11.63% | 10.59% | 9.32% | 10.46% | 11.87% | 11.53% | 10.13% |
| Earnings before Tax (EBT) 1 | 2,450 | 2,624 | 2,545 | 2,791 | 3,396 | 2,465 | 2,136 | 2,958 | 3,110 | 3,069 | 2,523 | 3,144 | 4,232 | 3,749 | 2,823 |
| Net income 1 | 1,596 | 1,666 | 1,709 | 1,784 | 2,125 | 1,702 | 1,470 | 1,804 | 2,121 | 2,070 | 1,677 | 2,075 | 2,836 | 2,471 | 1,872 |
| Net margin | 5.84% | 5.61% | 5.92% | 6.23% | 6.93% | 6.17% | 6.47% | 7.11% | 8.22% | 8.47% | 7.3% | 8.04% | 9.49% | 8.51% | 7.22% |
| EPS 2 | 2.230 | 2.450 | 2.380 | 2.480 | 2.960 | 2.310 | 2.030 | 2.490 | 2.930 | 2.870 | 2.294 | 2.839 | 3.883 | 3.363 | 2.460 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/5/21 | 3/9/22 | 5/9/22 | 8/8/22 | 11/3/22 | 3/8/23 | 5/9/23 | 8/7/23 | 11/3/23 | 3/13/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - |
| Net Cash position 1 | 9,565 | 9,692 | 101 | 9,258 | - | 21,540 | 25,664 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 8,298 | 5,195 | 1,399 | 14,636 | - | 5,473 | 8,939 |
| ROE (net income / shareholders' equity) | 22.7% | 19.9% | 21.1% | 22.1% | 18.3% | 20.6% | 21.7% |
| ROA (Net income/ Total Assets) | 8.32% | 7.44% | 7.73% | 8.57% | - | 9.44% | 9.33% |
| Assets 1 | 70,188 | 73,443 | 79,584 | 85,395 | - | 96,774 | 110,642 |
| Book Value Per Share 2 | 39.10 | 39.60 | 43.00 | 50.00 | - | 56.60 | 63.00 |
| Cash Flow per Share 2 | 15.80 | 11.80 | 6.210 | 22.90 | - | 14.90 | 16.40 |
| Capex 1 | 2,760 | 3,235 | 2,989 | 1,337 | - | 3,200 | 2,000 |
| Capex / Sales | 2.98% | 3.4% | 2.78% | 1.16% | - | 2.96% | 1.65% |
| Announcement Date | 3/9/20 | 3/9/21 | 3/9/22 | 3/8/23 | 3/13/24 | - | - |
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-
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
202.5
TWD
Average target price
262
TWD
Spread / Average Target
+29.38%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +15.71% | 4.5B | |
| +29.68% | 5.77B | |
| -10.50% | 1.44B | |
| -3.85% | 1.42B | |
| +29.10% | 1.24B | |
| +10.64% | 1.2B | |
| +6.26% | 1.07B | |
| +102.67% | 805M | |
| +1.01% | 652M | |
| +7.47% | 650M |
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