Cash flow Elite Material Co., Ltd.

Equities

2383

TW0002383007

Semiconductors

End-of-day quote Taiwan S.E. Other stock markets 2025-01-22			5-day change	1st Jan Change
614.00 ^TWD	+1.66%		+6.23%	-0.65%

Oct. 30	Elite Material Logs Higher Profit in Q3 on Higher Revenue	MT
Oct. 29	Elite Material Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024	CI

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Published financial data: ELITE MATERIAL CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	24.87B	27.2B	38.5B	38.67B	41.3B
Total Revenues	24.87B	27.2B	38.5B	38.67B	41.3B
Cost of Goods Sold, Total	18.77B	20.16B	28.43B	28.96B	29.96B
Gross Profit	6.1B	7.04B	10.07B	9.71B	11.33B
Selling General & Admin Expenses, Total	1.51B	1.78B	2.38B	2.53B	2.72B
Provision for Bad Debts	7.35M	-7.03M	-3.46M	107K	2.28M
R&D Expenses	500M	583M	771M	953M	1.27B
Other Operating Expenses, Total	2.02B	2.36B	3.15B	3.48B	3.99B
Operating Income	4.08B	4.68B	6.92B	6.23B	7.35B
Interest Expense, Total	-47.07M	-60.72M	-76.32M	-184M	-319M
Interest And Investment Income	90.44M	74.27M	76.5M	62.41M	121M
Net Interest Expenses	43.37M	13.54M	172K	-122M	-198M
Income (Loss) On Equity Invest.	3.83M	-10.91M	-9.94M	-	-
Currency Exchange Gains (Loss)	8.29M	15.49M	-42.84M	57.61M	70.72M
Other Non Operating Income (Expenses)	69.31M	143M	42.42M	136M	202M
EBT, Excl. Unusual Items	4.2B	4.84B	6.91B	6.3B	7.42B
Gain (Loss) On Sale Of Assets	-533K	-571K	-540K	-699K	-1.62M
Asset Writedown	-	-	-	-	-
Insurance Settlements	-	-	-	-	538M
Other Unusual Items	-	-	-	-	-538M
EBT, Incl. Unusual Items	4.2B	4.84B	6.91B	6.3B	7.42B
Income Tax Expense	959M	1.15B	1.41B	1.22B	1.93B
Earnings From Continuing Operations	3.25B	3.69B	5.5B	5.08B	5.49B
Net Income to Company	3.25B	3.69B	5.5B	5.08B	5.49B
Minority Interest	-4.46M	-5.27M	-6.94M	-3.37M	-
Net Income - (IS)	3.24B	3.69B	5.49B	5.07B	5.49B
Net Income to Common Incl Extra Items	3.24B	3.69B	5.49B	5.07B	5.49B
Net Income to Common Excl. Extra Items	3.24B	3.69B	5.49B	5.07B	5.49B
Per Share Items
Net EPS - Basic	10.14	11.33	16.5	15.24	16.35
Basic EPS - Continuing Operations	10.14	11.33	16.5	15.24	16.35
Basic Weighted Average Shares Outstanding	320M	326M	333M	333M	336M
Net EPS - Diluted	9.73	11.07	16.46	14.86	15.75
Diluted EPS - Continuing Operations	9.73	11.07	16.46	14.86	15.75
Diluted Weighted Average Shares Outstanding	334M	334M	334M	343M	348M
Normalized Basic EPS	8.21	9.28	12.96	11.81	13.82
Normalized Diluted EPS	7.86	9.05	12.93	11.45	13.34
Dividend Per Share	-	7	10	8.41	10
Payout Ratio	37.48	52	42.42	65.71	51.56
Supplemental Items
EBITDA	4.57B	5.29B	7.62B	6.97B	8.62B
EBITA	4.09B	4.69B	6.95B	6.27B	7.39B
EBIT	4.08B	4.68B	6.92B	6.23B	7.35B
EBITDAR	-	-	7.65B	7.01B	-
Effective Tax Rate - (Ratio)	22.8	23.73	20.42	19.37	26.03
Total Current Taxes	951M	1.44B	1.49B	1.57B	1.81B
Total Deferred Taxes	7.75M	-287M	-74.13M	-348M	117M
Normalized Net Income	2.62B	3.02B	4.31B	3.93B	4.64B
Interest Capitalized	-	-	-	11.57M	40.22M
Interest on Long-Term Debt	25.1M	14.04M	10.11M	21.91M	50.6M
Non-Cash Pension Expense	114K	24K	-61K	-133K	-750K
Supplemental Operating Expense Items
Selling and Marketing Expenses	745M	867M	1.11B	1.23B	1.23B
General and Administrative Expenses	768M	914M	1.26B	1.3B	1.49B
Research And Development Expense From Footnotes	500M	583M	771M	953M	1.27B
Net Rental Expense, Total	-	-	36.91M	40.19M	-
Imputed Operating Lease Interest Expense	-	-	7.95M	9.13M	-
Imputed Operating Lease Depreciation	-	-	28.96M	31.06M	-
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	6.35B	5.73B	6.64B	10.44B	9.26B
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	6.35B	5.73B	6.64B	10.44B	9.26B
Accounts Receivable, Total	9.19B	9.93B	13.27B	11.68B	17.33B
Other Receivables	56.95M	49.01M	97.76M	56.82M	404M
Total Receivables	9.25B	9.98B	13.37B	11.74B	17.73B
Inventory	2.9B	3.7B	5.47B	4.24B	6.13B
Other Current Assets, Total	329M	151M	365M	160M	550M
Total Current Assets	18.83B	19.57B	25.84B	26.58B	33.67B
Gross Property Plant And Equipment	12.45B	13.82B	16.68B	23.63B	26.99B
Accumulated Depreciation	-6.36B	-7.05B	-7.61B	-8.34B	-8.83B
Net Property Plant And Equipment	6.1B	6.77B	9.07B	15.29B	18.16B
Long-term Investments	38.22M	25.8M	-	-	-
Goodwill	-	437M	-	-	-
Other Intangibles, Total	10.32M	235M	669M	745M	712M
Deferred Tax Assets Long-Term	231M	225M	281M	192M	298M
Other Long-Term Assets, Total	493M	596M	702M	577M	578M
Total Assets	25.7B	27.86B	36.57B	43.38B	53.43B
Liabilities
Accounts Payable, Total	5.67B	5.85B	8.13B	6.51B	10.49B
Accrued Expenses, Total	-	-	-	2.27M	1.21M
Short-term Borrowings	764M	609M	2.79B	5.21B	6.56B
Current Portion of Long-Term Debt	1.7B	553M	129M	89.66M	1.31B
Current Portion of Leases	-	-	11.6M	12.83M	13.07M
Current Income Taxes Payable	250M	295M	424M	542M	485M
Other Current Liabilities	1.94B	2.31B	3B	3.39B	4.22B
Total Current Liabilities	10.32B	9.61B	14.49B	15.76B	23.07B
Long-Term Debt	643M	564M	721M	4.22B	2.11B
Long-Term Leases	-	-	292M	311M	298M
Unearned Revenue Non Current	-	-	-	348M	456M
Pension & Other Post Retirement Benefits	7.57M	-	-	-	-
Deferred Tax Liability Non Current	1.19B	911M	860M	520M	665M
Other Non Current Liabilities	10.35M	12.28M	433M	151M	16.28M
Total Liabilities	12.17B	11.1B	16.79B	21.31B	26.62B
Common Stock, Total	3.2B	3.33B	3.33B	3.33B	3.43B
Additional Paid In Capital	629M	1.87B	1.87B	2.08B	4.36B
Retained Earnings	10.53B	12.3B	15.46B	17.22B	19.88B
Comprehensive Income and Other	-832M	-757M	-904M	-549M	-859M
Total Common Equity	13.52B	16.74B	19.75B	22.07B	26.81B
Minority Interest	16.64M	16.88M	21.04M	-	-
Total Equity	13.54B	16.76B	19.77B	22.07B	26.81B
Total Liabilities And Equity	25.7B	27.86B	36.57B	43.38B	53.43B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	320M	333M	333M	333M	343M
ECS Total Common Shares Outstanding	320M	333M	333M	333M	343M
Book Value / Share	42.29	50.28	59.33	66.31	78.12
Tangible Book Value	13.51B	16.07B	19.08B	21.33B	26.1B
Tangible Book Value Per Share	42.26	48.26	57.32	64.07	76.05
Total Debt	3.11B	1.73B	3.94B	9.84B	10.29B
Net Debt	-3.24B	-4.01B	-2.7B	-602M	1.03B
Debt Equivalent of Unfunded Proj. Benefit Obligation	7.57M	-3.75M	-14.62M	-42.84M	-41.2M
Debt Equivalent Oper. Leases	-	-	295M	321M	-
Minority Interest, Total (Incl. Fin. Div)	16.64M	16.88M	21.04M	-	-
Equity Method Investments, Total	21.71M	10.12M	-	-	-
Account Code - Inventory Valuation	6	6	3	3	3
Inventories - Raw Materials, Total	1.87B	2.41B	3.53B	2.83B	3.86B
Inventories - Work In Process, Total	188M	288M	272M	238M	389M
Inventories - Finished Goods, Total	842M	1B	1.67B	1.17B	1.88B
Land - (BS)	471M	471M	471M	2.54B	2.54B
Buildings, Total	2.65B	2.79B	2.79B	4.11B	6.24B
Machinery, Total	8.48B	9.35B	10.13B	12.75B	15.11B
Accumulated Allowance for Doubtful Accounts (Supple)	12.6M	8.21M	4.64M	5.04M	5.36M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	3.24B	3.69B	5.49B	5.07B	5.49B
Depreciation & Amortization - CF	486M	599M	690M	730M	1.25B
Amortization of Goodwill and Intangible Assets - (CF)	5.64M	9.39M	29.24M	44.23M	48.2M
Depreciation & Amortization, Total	492M	609M	719M	774M	1.3B
Amortization of Deferred Charges, Total - (CF)	25.1M	14.04M	-	24.49M	29.7M
(Gain) Loss From Sale Of Asset	533K	571K	540K	699K	1.62M
(Gain) Loss on Sale of Investments - (CF)	-15.61M	-1.85M	-	13.86M	-42.29M
Asset Writedown & Restructuring Costs	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-3.83M	10.91M	9.94M	-	-
Stock-Based Compensation (CF)	-	-	-	-	-
Provision and Write-off of Bad Debts	7.35M	-7.03M	-3.46M	107K	2.28M
Other Operating Activities, Total	255M	-217M	74.07M	-219M	65.66M
Change In Accounts Receivable	-1.87B	-485M	-3.52B	1.84B	-5.96B
Change In Inventories	-776M	-648M	-1.78B	1.3B	-2.25B
Change In Accounts Payable	897M	46.71M	2.32B	-1.73B	4.11B
Change in Other Net Operating Assets	218M	506M	716M	412M	142M
Cash from Operations	2.47B	3.52B	4.02B	7.5B	2.89B
Capital Expenditure	-1.13B	-1.2B	-2.47B	-6.49B	-3.28B
Sale of Property, Plant, and Equipment	412K	101K	7.94M	-	619K
Cash Acquisitions	-	-719M	-	-24.74M	-
Sale (Purchase) of Intangible assets	-8.74M	-43.2M	-44.62M	-50.86M	-16.62M
Investment in Marketable and Equity Securities, Total	-18.62M	-	-	-20.67M	-
Other Investing Activities, Total	-24.86M	2.7M	-111M	-6.41M	-760M
Cash from Investing	-1.18B	-1.96B	-2.62B	-6.6B	-4.06B
Short Term Debt Issued, Total	-	-	2.18B	2.57B	1.44B
Long-Term Debt Issued, Total	1.1B	1.05B	750M	4.61B	1.95B
Total Debt Issued	1.1B	1.05B	2.93B	7.19B	3.39B
Short Term Debt Repaid, Total	-146M	-326M	-	-200M	-
Long-Term Debt Repaid, Total	-500M	-918M	-1.03B	-970M	-450M
Total Debt Repaid	-646M	-1.24B	-1.03B	-1.17B	-450M
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-1.21B	-1.92B	-2.33B	-3.33B	-2.83B
Common & Preferred Stock Dividends Paid	-1.21B	-1.92B	-2.33B	-3.33B	-2.83B
Other Financing Activities, Total	-1.45M	-3.32M	2.57M	1.31M	-2.37M
Cash from Financing	-759M	-2.11B	-420M	2.69B	109M
Foreign Exchange Rate Adjustments	-199M	-63.82M	-73.43M	211M	-126M
Net Change in Cash	328M	-619M	910M	3.8B	-1.18B
Supplemental Items
Cash Interest Paid	36.35M	47.19M	74.42M	148M	290M
Cash Income Tax Paid (Refund)	697M	1.39B	1.35B	1.46B	1.86B
Levered Free Cash Flow	1.3B	1.51B	223M	-12.38M	-1.11B
Unlevered Free Cash Flow	1.3B	1.53B	270M	78.2M	-938M
Change In Net Working Capital	604M	759M	2.26B	-1.96B	3.53B
Net Debt Issued / Repaid	457M	-192M	1.91B	6.02B	2.94B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	10.7	10.93	13.43	9.73	9.49
Return on Total Capital	16.34	16.67	20.51	13.99	13.31
Return On Equity %	25.5	24.39	30.11	24.26	22.45
Return on Common Equity	25.5	24.38	30.11	24.26	22.45
Margin Analysis
Gross Profit Margin %	24.53	25.88	26.15	25.11	27.44
SG&A Margin	6.08	6.55	6.18	6.55	6.58
EBITDA Margin %	18.36	19.43	19.78	18.03	20.87
EBITA Margin %	16.43	17.25	18.06	16.21	17.91
EBIT Margin %	16.41	17.22	17.98	16.1	17.79
Income From Continuing Operations Margin %	13.05	13.58	14.29	13.13	13.29
Net Income Margin %	13.03	13.56	14.27	13.12	13.29
Net Avail. For Common Margin %	13.03	13.56	14.27	13.12	13.29
Normalized Net Income Margin	10.55	11.11	11.2	10.17	11.23
Levered Free Cash Flow Margin	5.21	5.55	0.58	-0.03	-2.68
Unlevered Free Cash Flow Margin	5.23	5.64	0.7	0.2	-2.27
Asset Turnover
Asset Turnover	1.04	1.02	1.2	0.97	0.85
Fixed Assets Turnover	4.51	4.23	4.86	3.18	2.47
Receivables Turnover (Average Receivables)	2.96	2.84	3.32	3.1	2.85
Inventory Turnover (Average Inventory)	7.34	6.1	6.2	5.97	5.78
Short Term Liquidity
Current Ratio	1.82	2.04	1.78	1.69	1.46
Quick Ratio	1.51	1.63	1.38	1.41	1.17
Operating Cash Flow to Current Liabilities	0.24	0.37	0.28	0.48	0.13
Days Sales Outstanding (Average Receivables)	123.43	128.68	110.01	117.77	128.2
Days Outstanding Inventory (Average Inventory)	49.74	59.97	58.85	61.13	63.16
Average Days Payable Outstanding	99.64	100.58	84.46	96.35	97.38
Cash Conversion Cycle (Average Days)	73.53	88.07	84.39	82.56	93.98
Long Term Solvency
Total Debt/Equity	22.95	10.3	19.94	44.58	38.37
Total Debt / Total Capital	18.67	9.34	16.62	30.84	27.73
LT Debt/Equity	4.75	3.37	5.12	20.52	8.98
Long-Term Debt / Total Capital	3.86	3.05	4.27	14.19	6.49
Total Liabilities / Total Assets	47.34	39.85	45.92	49.12	49.82
EBIT / Interest Expense	86.67	77.13	90.7	33.81	23.06
EBITDA / Interest Expense	97.13	87.15	100.13	38.02	27.14
(EBITDA - Capex) / Interest Expense	73.16	67.39	67.76	2.75	16.85
Total Debt / EBITDA	0.68	0.33	0.52	1.41	1.19
Net Debt / EBITDA	-0.71	-0.76	-0.35	-0.09	0.12
Total Debt / (EBITDA - Capex)