EMEMORY TECHNOLOGY INC. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,225 TWD | -.--% |
|
+12.66% | -9.18% |
| Feb. 22 | Taiwan chip firms flock to Japan as China decoupling accelerates | RE |
| Feb. 21 | EMemory Technology Inc. Approves Dividend Distribution for the Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 26,475 | 44,321 | 163,279 | 99,614 | 182,873 | 166,079 | - |
| Enterprise Value (EV) 1 | 26,475 | 42,570 | 160,796 | 99,614 | 180,172 | 162,727 | 161,843 |
| P/E ratio | 48.8 x | 62.5 x | 148 x | 62.1 x | 124 x | 82.1 x | 59.7 x |
| Yield | 1.96% | 1.26% | 0.64% | 1.42% | 0.71% | 0.99% | 1.28% |
| Capitalization / Revenue | 18.8 x | 24.9 x | 69.1 x | 31 x | 60 x | 43.5 x | 34.2 x |
| EV / Revenue | 18.8 x | 24 x | 68 x | 31 x | 59.1 x | 42.6 x | 33.4 x |
| EV / EBITDA | 39.1 x | 48.3 x | 121 x | 51.7 x | 99.1 x | 67.4 x | 50.1 x |
| EV / FCF | - | 46.1 x | 122 x | - | 122 x | 82.8 x | 72.2 x |
| FCF Yield | - | 2.17% | 0.82% | - | 0.82% | 1.21% | 1.39% |
| Price to Book | 15.6 x | 22.7 x | 66 x | 33.2 x | 60.5 x | 41.1 x | 34 x |
| Nbr of stocks (in thousands) | 74,264 | 74,489 | 74,556 | 74,617 | 74,642 | 74,642 | - |
| Reference price 2 | 356.5 | 595.0 | 2,190 | 1,335 | 2,450 | 2,225 | 2,225 |
| Announcement Date | 2/12/20 | 2/9/21 | 2/10/22 | 2/8/23 | 2/6/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,410 | 1,777 | 2,364 | 3,217 | 3,050 | 3,819 | 4,849 |
| EBITDA 1 | 676.5 | 882.1 | 1,328 | 1,928 | 1,818 | 2,413 | 3,233 |
| EBIT 1 | 621.3 | 822.6 | 1,269 | 1,853 | 1,693 | 2,324 | 3,186 |
| Operating Margin | 44.06% | 46.3% | 53.68% | 57.62% | 55.49% | 60.85% | 65.7% |
| Earnings before Tax (EBT) 1 | 633.2 | 830.8 | 1,283 | - | 1,751 | 2,376 | 2,738 |
| Net income 1 | 542.1 | 708 | 1,101 | 1,612 | 1,474 | 2,005 | 2,559 |
| Net margin | 38.44% | 39.85% | 46.58% | 50.11% | 48.34% | 52.49% | 52.77% |
| EPS 2 | 7.300 | 9.520 | 14.78 | 21.51 | 19.70 | 27.09 | 37.28 |
| Free Cash Flow 1 | - | 923.8 | 1,321 | - | 1,478 | 1,966 | 2,243 |
| FCF margin | - | 52% | 55.87% | - | 48.46% | 51.48% | 46.25% |
| FCF Conversion (EBITDA) | - | 104.72% | 99.42% | - | 81.3% | 81.47% | 69.38% |
| FCF Conversion (Net income) | - | 130.48% | 119.94% | - | 100.26% | 98.07% | 87.65% |
| Dividend per Share 2 | 7.000 | 7.500 | 14.00 | 19.00 | 17.50 | 22.09 | 28.45 |
| Announcement Date | 2/12/20 | 2/9/21 | 2/10/22 | 2/8/23 | 2/6/24 | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 594.3 | 631.4 | 727.1 | 796.3 | 790.6 | 902.7 | 667.8 | 696.6 | 787.1 | 898.9 | 827.8 | 894.8 | 986.6 | 1,065 |
| EBITDA 1 | 331.6 | 346.9 | 427.6 | 480.1 | 465.6 | 555 | 392.7 | 401 | 450.4 | 574.2 | 522.9 | 560.1 | 648.5 | 735.3 |
| EBIT 1 | 316.7 | 331.7 | 413.3 | 460.1 | 445.4 | 534.6 | 367.1 | 368.8 | 417.2 | 539.5 | 491.8 | 537.9 | 608.5 | 668.4 |
| Operating Margin | 53.29% | 52.54% | 56.84% | 57.78% | 56.34% | 59.22% | 54.97% | 52.94% | 53.01% | 60.02% | 59.42% | 60.11% | 61.67% | 62.79% |
| Earnings before Tax (EBT) 1 | 323.1 | 332.5 | 428.1 | 475.3 | 485.5 | 520 | 371.5 | 415.9 | 486.2 | 477.4 | 510 | 568.7 | 623.3 | 674.7 |
| Net income 1 | 277.2 | 287.3 | 366 | 408.9 | 406.4 | 430.5 | 313.1 | 351.7 | 405.9 | 403.8 | 430.6 | 473.1 | 524.5 | 576.9 |
| Net margin | 46.64% | 45.5% | 50.34% | 51.35% | 51.41% | 47.69% | 46.89% | 50.49% | 51.57% | 44.92% | 52.01% | 52.87% | 53.16% | 54.19% |
| EPS 2 | 3.710 | 3.860 | 4.890 | 5.470 | 5.430 | 5.770 | 4.200 | 4.710 | 5.430 | 5.360 | 5.735 | 6.299 | 6.980 | 7.678 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/28/21 | 2/10/22 | 4/26/22 | 7/28/22 | 10/27/22 | 2/8/23 | 4/27/23 | 7/27/23 | 10/25/23 | 2/6/24 | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - |
| Net Cash position 1 | - | 1,751 | 2,483 | - | 2,702 | 3,352 | 4,236 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | 924 | 1,321 | - | 1,478 | 1,966 | 2,243 |
| ROE (net income / shareholders' equity) | 31.6% | 38.3% | 49.3% | 58.2% | 48.5% | 59.1% | 62.1% |
| ROA (Net income/ Total Assets) | - | 31.4% | 38.9% | 45.5% | 38.5% | 46.3% | 48.6% |
| Assets 1 | - | 2,255 | 2,832 | 3,543 | 3,828 | 4,332 | 5,266 |
| Book Value Per Share 2 | 22.90 | 26.20 | 33.20 | 40.20 | 40.50 | 54.10 | 65.50 |
| Cash Flow per Share 2 | - | 12.40 | - | - | 20.40 | 28.40 | 48.60 |
| Capex 1 | - | 19.5 | 26.8 | - | 47.5 | 55.7 | 74.8 |
| Capex / Sales | - | 1.1% | 1.13% | - | 1.56% | 1.46% | 1.54% |
| Announcement Date | 2/12/20 | 2/9/21 | 2/10/22 | 2/8/23 | 2/6/24 | - | - |
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
BUY
Number of Analysts
5
Last Close Price
2,225
TWD
Average target price
3,250
TWD
Spread / Average Target
+46.07%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.18% | 5.1B | |
| +74.47% | 2,160B | |
| +33.22% | 633B | |
| +16.49% | 620B | |
| +7.44% | 259B | |
| +14.67% | 189B | |
| +3.50% | 163B | |
| -39.36% | 133B | |
| +32.36% | 127B | |
| +34.69% | 106B |
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