ESPRESSIF SYSTEMS (SHANGHAI) CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 105.2 CNY | +2.30% |
|
+7.43% | +2.14% |
| Apr. 22 | Espressif Systems Co., Ltd. acquired an unknown majority stake in M5stack Inc. | CI |
| Apr. 18 | Espressif Systems Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 13,422 | 11,890 | 15,233 | 7,254 | 8,224 | 8,229 | - | - |
| Enterprise Value (EV) 1 | 13,422 | 11,890 | 14,875 | 6,913 | 7,769 | 7,606 | 7,630 | 7,575 |
| P/E ratio | 72.3 x | 114 x | 77.4 x | 74.3 x | 59.8 x | 44.8 x | 31 x | 24.1 x |
| Yield | - | - | 0.84% | - | 0.97% | 1.21% | 1.78% | 2.05% |
| Capitalization / Revenue | 17.7 x | - | 11 x | 5.71 x | 5.73 x | 4.63 x | 3.61 x | 3.01 x |
| EV / Revenue | 17.7 x | - | 10.7 x | 5.44 x | 5.41 x | 4.28 x | 3.35 x | 2.77 x |
| EV / EBITDA | - | - | 66.3 x | 65 x | 59.9 x | 41.2 x | 27.3 x | 21.2 x |
| EV / FCF | - | - | -33,870 x | - | 30.7 x | -121 x | -587 x | 110 x |
| FCF Yield | - | - | -0% | - | 3.26% | -0.83% | -0.17% | 0.91% |
| Price to Book | - | - | 8.36 x | 3.95 x | 4.28 x | 4.04 x | 3.75 x | 3.23 x |
| Nbr of stocks (in thousands) | 80,000 | 80,000 | 80,159 | 80,469 | 79,884 | 78,261 | - | - |
| Reference price 2 | 167.8 | 148.6 | 190.0 | 90.15 | 103.0 | 105.2 | 105.2 | 105.2 |
| Announcement Date | 2/28/20 | 2/25/21 | 2/24/22 | 2/24/23 | 1/10/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 757.4 | - | 1,386 | 1,271 | 1,436 | 1,776 | 2,278 | 2,735 |
| EBITDA 1 | - | - | 224.5 | 106.3 | 129.8 | 184.6 | 279.2 | 357.6 |
| EBIT 1 | 168.9 | - | 208.4 | 86.12 | 95.7 | 170.3 | 259 | 346.8 |
| Operating Margin | 22.3% | - | 15.03% | 6.78% | 6.67% | 9.59% | 11.37% | 12.68% |
| Earnings before Tax (EBT) 1 | 172.1 | - | 208.3 | 86.09 | 95.83 | 170.3 | 267.3 | 341.1 |
| Net income 1 | 158.5 | 104.1 | 198.4 | 97.32 | 128.1 | 189.1 | 273.8 | 352.8 |
| Net margin | 20.93% | - | 14.31% | 7.66% | 8.93% | 10.65% | 12.02% | 12.9% |
| EPS 2 | 2.320 | 1.300 | 2.457 | 1.213 | 1.722 | 2.345 | 3.390 | 4.364 |
| Free Cash Flow 1 | - | - | -0.4392 | - | 253.3 | -63 | -13 | 69 |
| FCF margin | - | - | -0.03% | - | 17.64% | -3.55% | -0.57% | 2.52% |
| FCF Conversion (EBITDA) | - | - | - | - | 195.15% | - | - | 19.3% |
| FCF Conversion (Net income) | - | - | - | - | 197.64% | - | - | 19.56% |
| Dividend per Share 2 | - | - | 1.600 | - | 1.000 | 1.270 | 1.870 | 2.155 |
| Announcement Date | 2/28/20 | 2/25/21 | 2/24/22 | 2/24/23 | 1/10/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 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 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 288.9 | 324.9 | 335.5 | 321.8 | 318.1 | 348.9 | 360 | 406.1 | 387.2 | 446.9 | 460 | 516.7 | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 26.15 | 31.98 | 23.15 | 4.837 | 25.53 | 24.49 | 14.4 | 40.83 | 51.58 | 42.28 | 33.24 | 44.6 | - | - |
| Operating Margin | 9.05% | 9.84% | 6.9% | 1.5% | 8.03% | 7.02% | 4% | 10.06% | 13.32% | 9.46% | 7.23% | 8.63% | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | 13.47 | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | 4.19% | - | - | - | - | - | - | - | - | - | - |
| EPS 2 | 0.3475 | 0.4400 | 0.2500 | 0.1700 | 0.3884 | 0.4175 | 0.2817 | 0.6000 | 0.6849 | 0.5450 | 0.5400 | 0.5950 | 0.7000 | 0.7700 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 4/30/22 | 8/22/22 | 10/28/22 | 2/24/23 | 4/28/23 | 7/28/23 | 10/23/23 | 1/10/24 | 4/18/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | - | - | 359 | 341 | 455 | 623 | 599 | 654 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | - | - | -0.44 | - | 253 | -63 | -13 | 69 |
| ROE (net income / shareholders' equity) | 18.3% | - | 11.5% | 5.36% | 6.72% | 9.22% | 12.4% | 13.5% |
| ROA (Net income/ Total Assets) | - | - | 10% | 4.62% | 6.35% | 8.13% | 10.6% | - |
| Assets 1 | - | - | 1,979 | 2,106 | 2,018 | 2,326 | 2,588 | - |
| Book Value Per Share 2 | - | - | 22.70 | 22.80 | 24.00 | 26.00 | 28.00 | 32.50 |
| Cash Flow per Share 2 | - | - | 0.3900 | 0.8900 | 3.750 | -0.9600 | 3.110 | 4.190 |
| Capex 1 | 20.9 | - | 31.9 | 26.2 | 49.3 | 29.8 | 55.6 | 67.4 |
| Capex / Sales | 2.76% | - | 2.3% | 2.06% | 3.44% | 1.68% | 2.44% | 2.46% |
| Announcement Date | 2/28/20 | 2/25/21 | 2/24/22 | 2/24/23 | 1/10/24 | - | - | - |
1CNY in Million2CNY
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
6
Last Close Price
105.2
CNY
Average target price
113.8
CNY
Spread / Average Target
+8.23%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +2.14% | 1.14B | |
| -13.60% | 7.91B | |
| -13.22% | 6.43B | |
| +6.26% | 5.57B | |
| +36.54% | 4.31B | |
| +13.40% | 1.2B | |
| +1.97% | 1.04B | |
| -3.12% | 959M | |
| -13.90% | 921M | |
| -32.01% | 742M |
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- Financials Espressif Systems (Shanghai) Co., Ltd.
