Financials FocalTech Systems Co., Ltd.

Equities

3545

TW0003545000

Semiconductors

End-of-day quote Taiwan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
82.5 TWD +0.36% Intraday chart for FocalTech Systems Co., Ltd. +0.98% -26.67%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 6,865 19,526 37,129 12,573 24,376 17,871 -
Enterprise Value (EV) 1 6,865 14,652 27,706 12,573 24,376 17,871 17,871
P/E ratio -37.8 x 25.1 x 5.99 x -6.24 x 66.6 x 34.5 x 35.6 x
Yield - - 9.16% - - - -
Capitalization / Revenue 0.75 x 1.41 x 1.69 x 0.97 x 1.8 x 1.24 x 1.22 x
EV / Revenue 0.75 x 1.41 x 1.69 x 0.97 x 1.8 x 1.24 x 1.22 x
EV / EBITDA -32.7 x 17.1 x 5.13 x - 74.3 x 30.5 x 34 x
EV / FCF - 27,733,519 x 9,950,186 x - - - -
FCF Yield - 0% 0% - - - -
Price to Book 0.89 x 2.51 x 2.72 x - 2.62 x 1.82 x -
Nbr of stocks (in thousands) 201,946 208,834 216,498 214,553 216,678 216,620 -
Reference price 2 33.99 93.50 171.5 58.60 112.5 82.50 82.50
Announcement Date 2/13/20 3/30/21 2/24/22 2/24/23 2/27/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 9,160 13,800 21,991 12,950 13,568 14,437 14,615
EBITDA 1 -209.6 1,144 7,233 - 328.1 586 525
EBIT 1 -341 1,031 7,130 -2,293 122.6 482 341
Operating Margin -3.72% 7.47% 32.42% -17.71% 0.9% 3.34% 2.33%
Earnings before Tax (EBT) 1 -180 1,157 7,603 -1,861 425.7 602 608
Net income 1 -175.2 1,012 6,113 -1,912 361.9 496 505
Net margin -1.91% 7.33% 27.8% -14.76% 2.67% 3.44% 3.46%
EPS 2 -0.8999 3.730 28.62 -9.390 1.690 2.390 2.320
Free Cash Flow - 704.1 3,732 - - - -
FCF margin - 5.1% 16.97% - - - -
FCF Conversion (EBITDA) - 61.54% 51.59% - - - -
FCF Conversion (Net income) - 69.57% 61.04% - - - -
Dividend per Share - - 15.71 - - - -
Announcement Date 2/13/20 3/30/21 2/24/22 2/24/23 2/27/24 - -
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 6,272 5,597 3,893 3,327 2,370 3,360 3,225 3,112 3,598 3,632 3,777 3,422 3,633 3,606 3,240
EBITDA - - - - - - - - - - - - - - -
EBIT 1 2,417 1,749 673 22.4 -2,954 -34.15 35.45 37.48 13.34 36.38 114 102 133 133 59
Operating Margin 38.54% 31.24% 17.29% 0.67% -124.63% -1.02% 1.1% 1.2% 0.37% 1% 3.02% 2.98% 3.66% 3.69% 1.82%
Earnings before Tax (EBT) 1 2,405 1,819 895 208.7 -2,968 4.26 62.21 136.8 150.9 75.78 144 132 163 163 117
Net income 1 1,833 1,328 723 89.61 -2,760 29.55 51.66 105.1 127 78.24 119 109 134 134 97
Net margin 29.23% 23.72% 18.57% 2.69% -116.46% 0.88% 1.6% 3.38% 3.53% 2.15% 3.15% 3.19% 3.69% 3.72% 2.99%
EPS 2 8.580 6.100 3.570 0.4200 -13.57 0.1400 0.2500 0.5100 0.6100 0.3600 0.5700 0.5200 0.6500 0.6500 0.4500
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 10/29/21 2/24/22 4/26/22 8/12/22 11/14/22 2/24/23 5/15/23 8/14/23 11/14/23 2/27/24 - - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - -
Net Cash position - 4,874 9,423 - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow - 704 3,732 - - - -
ROE (net income / shareholders' equity) -2.23% 13% 57% - 3.99% 4.4% 5.37%
ROA (Net income/ Total Assets) -1.53% 8.45% 32.4% - 1.84% 1.89% 2.37%
Assets 1 11,451 11,974 18,839 - 19,626 26,243 21,308
Book Value Per Share 2 38.10 37.30 63.00 - 43.00 45.40 -
Cash Flow per Share - - - - - - -
Capex 1 102 22.9 1,241 - 59.3 45 76
Capex / Sales 1.11% 0.17% 5.64% - 0.44% 0.31% 0.52%
Announcement Date 2/13/20 3/30/21 2/24/22 2/24/23 2/27/24 - -
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
82.5 TWD
Average target price
111 TWD
Spread / Average Target
+34.55%
Consensus
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