Financials Chipbond Technology Corporation

Equities

6147

TW0006147002

Semiconductors

End-of-day quote Taipei Exchange 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
77.3 TWD -0.64% Intraday chart for Chipbond Technology Corporation +5.46% +6.92%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 43,966 43,443 49,270 42,400 53,840 57,563 - -
Enterprise Value (EV) 1 41,003 43,337 49,158 39,544 49,117 48,840 45,845 44,516
P/E ratio 10.9 x 12 x 7.56 x 6.99 x 13.6 x 15.9 x 12.5 x 12 x
Yield 6.25% - 9% 9.58% 5.19% 3.85% 4.75% 5.23%
Capitalization / Revenue 2.15 x 1.95 x 1.82 x 1.77 x 2.68 x 2.86 x 2.43 x 2.36 x
EV / Revenue 2.01 x 1.95 x 1.82 x 1.65 x 2.45 x 2.43 x 1.94 x 1.83 x
EV / EBITDA 4.82 x 5.27 x 4.7 x 4.12 x 6.82 x 6.85 x 5.68 x 5.79 x
EV / FCF 12.4 x 11.7 x 15.7 x 5.85 x 11 x 12.7 x 7.98 x -
FCF Yield 8.06% 8.51% 6.36% 17.1% 9.05% 7.86% 12.5% -
Price to Book 1.48 x 1.39 x 1.18 x 1.04 x 1.11 x 1.18 x 1.19 x 1.09 x
Nbr of stocks (in thousands) 654,262 654,262 738,676 738,676 744,676 744,676 - -
Reference price 2 67.20 66.40 66.70 57.40 72.30 77.30 77.30 77.30
Announcement Date 2/26/20 2/25/21 3/1/22 2/24/23 2/1/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 20,419 22,275 27,082 24,010 20,056 20,135 23,649 24,375
EBITDA 1 8,506 8,224 10,449 9,603 7,197 7,128 8,064 7,686
EBIT 1 5,408 4,835 6,894 5,877 3,326 3,677 4,519 4,569
Operating Margin 26.49% 21.7% 25.46% 24.48% 16.58% 18.26% 19.11% 18.74%
Earnings before Tax (EBT) 1 5,253 4,450 7,428 7,659 4,762 3,944 5,456 5,666
Net income 1 4,090 3,661 6,137 6,209 3,995 3,592 4,572 4,749
Net margin 20.03% 16.44% 22.66% 25.86% 19.92% 17.84% 19.33% 19.48%
EPS 2 6.170 5.520 8.820 8.210 5.330 4.848 6.168 6.428
Free Cash Flow 1 3,303 3,688 3,127 6,765 4,445 3,839 5,742 -
FCF margin 16.18% 16.56% 11.55% 28.18% 22.16% 19.07% 24.28% -
FCF Conversion (EBITDA) 38.83% 44.85% 29.93% 70.45% 61.76% 53.86% 71.21% -
FCF Conversion (Net income) 80.78% 100.74% 50.95% 108.97% 111.27% 106.88% 125.59% -
Dividend per Share 2 4.200 - 6.000 5.500 3.750 2.979 3.674 4.041
Announcement Date 2/26/20 2/25/21 3/1/22 2/24/23 2/1/24 - - -
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 7,106 6,586 6,745 6,629 5,253 5,383 4,603 5,471 5,179 4,803 4,284 4,626 5,609 5,661 5,126
EBITDA 1 2,742 2,653 2,653 2,568 2,071 2,312 1,717 2,014 1,822 1,645 1,031 1,391 1,837 1,866 1,814
EBIT 1 1,854 1,751 1,739 1,641 1,128 1,369 757.6 1,029 848 690.9 125.9 917.1 1,140 1,077 844.3
Operating Margin 26.09% 26.59% 25.78% 24.75% 21.47% 25.44% 16.46% 18.82% 16.37% 14.38% 2.94% 19.82% 20.32% 19.03% 16.47%
Earnings before Tax (EBT) 1 2,095 1,964 2,136 2,416 1,816 1,290 743.9 1,759 1,390 869.6 1,309 890.3 1,148 1,171 968.6
Net income 1 1,786 1,690 1,724 1,788 1,581 1,116 665.9 1,423 1,155 751.6 1,228 737.7 934.4 986 814.2
Net margin 25.13% 25.66% 25.56% 26.98% 30.09% 20.73% 14.47% 26% 22.29% 15.65% 28.66% 15.95% 16.66% 17.42% 15.88%
EPS 2 2.640 2.300 2.300 2.420 2.120 1.480 0.8900 1.930 1.550 1.000 1.660 0.9944 1.260 1.331 1.097
Dividend per Share 2 - - - - - - - - - - - - 2.704 0.001350 -
Announcement Date 10/27/21 3/1/22 4/29/22 7/29/22 10/28/22 2/24/23 5/3/23 7/27/23 10/26/23 2/1/24 4/26/24 - - - -
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 2,963 106 112 2,856 4,723 8,724 11,719 13,047
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 3,303 3,688 3,127 6,765 4,445 3,839 5,742 -
ROE (net income / shareholders' equity) 14.2% 11.9% 16.7% 15% 8.94% 7.28% 9.24% 8.98%
ROA (Net income/ Total Assets) 10.2% 8.77% 12.6% 11.9% 7.57% 6.23% 7.82% -
Assets 1 39,914 41,743 48,535 52,379 52,742 57,662 58,460 -
Book Value Per Share 2 45.40 47.70 56.40 55.40 65.10 65.30 65.00 70.90
Cash Flow per Share 2 12.90 9.310 11.40 13.80 8.830 10.50 - -
Capex 1 5,232 2,485 4,827 3,678 2,174 3,000 3,000 -
Capex / Sales 25.62% 11.16% 17.82% 15.32% 10.84% 14.9% 12.69% -
Announcement Date 2/26/20 2/25/21 3/1/22 2/24/23 2/1/24 - - -
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
UNDERPERFORM
Number of Analysts
8
Last Close Price
77.3 TWD
Average target price
62.84 TWD
Spread / Average Target
-18.71%
Consensus
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