MACRONIX INTERNATIONAL CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 26 TWD | +0.58% |
|
+0.19% | -17.07% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 68,372 | 78,439 | 78,241 | 62,569 | 58,119 | 48,201 | - |
| Enterprise Value (EV) 1 | 75,285 | 83,753 | 72,021 | 58,415 | 65,677 | 59,447 | 62,043 |
| P/E ratio | 22.7 x | 14.6 x | 6.51 x | 7.21 x | -34.1 x | -31.8 x | 24.5 x |
| Yield | 3.23% | 2.84% | 4.27% | - | 5.74% | 0.77% | 1.37% |
| Capitalization / Revenue | 1.95 x | 1.97 x | 1.55 x | 1.44 x | 2.1 x | 1.67 x | 1.39 x |
| EV / Revenue | 2.15 x | 2.1 x | 1.42 x | 1.34 x | 2.38 x | 2.06 x | 1.78 x |
| EV / EBITDA | 12.9 x | 8.52 x | 4.04 x | 4.2 x | 25.3 x | 18.9 x | 9.91 x |
| EV / FCF | -9.13 x | 22.2 x | 6.36 x | 29.8 x | -8 x | -46.7 x | -940 x |
| FCF Yield | -11% | 4.51% | 15.7% | 3.36% | -12.5% | -2.14% | -0.11% |
| Price to Book | 2.1 x | 2.17 x | 1.67 x | 1.19 x | 1.2 x | 1.05 x | 1.01 x |
| Nbr of stocks (in thousands) | 1,837,970 | 1,854,345 | 1,854,061 | 1,853,898 | 1,853,870 | 1,853,870 | - |
| Reference price 2 | 37.20 | 42.30 | 42.20 | 33.75 | 31.35 | 26.00 | 26.00 |
| Announcement Date | 2/18/20 | 1/28/21 | 1/25/22 | 2/15/23 | 1/30/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 34,995 | 39,801 | 50,573 | 43,487 | 27,624 | 28,893 | 34,797 |
| EBITDA 1 | 5,830 | 9,834 | 17,848 | 13,908 | 2,600 | 3,146 | 6,260 |
| EBIT 1 | 3,099 | 5,866 | 11,064 | 9,369 | -2,407 | -1,568 | 1,504 |
| Operating Margin | 8.86% | 14.74% | 21.88% | 21.54% | -8.71% | -5.43% | 4.32% |
| Earnings before Tax (EBT) 1 | 3,026 | 5,841 | 13,328 | 10,292 | -1,884 | -1,601 | 1,217 |
| Net income 1 | 3,012 | 5,326 | 11,963 | 8,970 | -1,699 | -1,522 | 1,982 |
| Net margin | 8.61% | 13.38% | 23.65% | 20.63% | -6.15% | -5.27% | 5.7% |
| EPS 2 | 1.640 | 2.900 | 6.480 | 4.680 | -0.9200 | -0.8179 | 1.061 |
| Free Cash Flow 1 | -8,245 | 3,775 | 11,326 | 1,961 | -8,208 | -1,273 | -66 |
| FCF margin | -23.56% | 9.48% | 22.4% | 4.51% | -29.71% | -4.41% | -0.19% |
| FCF Conversion (EBITDA) | - | 38.39% | 63.46% | 14.1% | - | - | - |
| FCF Conversion (Net income) | - | 70.88% | 94.68% | 21.86% | - | - | - |
| Dividend per Share 2 | 1.200 | 1.200 | 1.800 | - | 1.800 | 0.2000 | 0.3550 |
| Announcement Date | 2/18/20 | 1/28/21 | 1/25/22 | 2/15/23 | 1/30/24 | - | - |
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 | 14,974 | 14,545 | 11,598 | 11,340 | 11,472 | 9,078 | 7,104 | 7,429 | 7,283 | 5,808 | 5,748 | 6,319 | 7,879 | 8,495 |
| EBITDA 1 | - | 5,200 | - | 4,121 | - | 1,875 | 636.6 | 1,193 | - | -7 | 179.1 | 321.8 | 666 | 1,047 |
| EBIT 1 | 3,497 | 4,094 | 3,218 | 2,980 | 2,417 | 754.2 | -439.1 | -166.5 | -652.4 | -1,149 | -1,011 | -763.2 | -11.99 | 382.4 |
| Operating Margin | 23.35% | 28.15% | 27.74% | 26.28% | 21.07% | 8.31% | -6.18% | -2.24% | -8.96% | -19.78% | -17.59% | -12.08% | -0.15% | 4.5% |
| Earnings before Tax (EBT) 1 | 6,122 | 4,041 | 3,406 | 3,389 | 2,840 | 657.2 | -388.1 | 82.93 | -450.3 | -1,129 | -1,050 | -726.5 | -17 | 251.5 |
| Net income 1 | 5,430 | 3,692 | 2,929 | 2,935 | 2,500 | 605.1 | -355.3 | 70.98 | -407.9 | -1,007 | -874.6 | -644.6 | -130.5 | 139.4 |
| Net margin | 36.26% | 25.38% | 25.25% | 25.89% | 21.79% | 6.67% | -5% | 0.96% | -5.6% | -17.34% | -15.22% | -10.2% | -1.66% | 1.64% |
| EPS 2 | 2.860 | 2.000 | 1.540 | 1.590 | 1.310 | 0.3300 | -0.1900 | 0.0400 | -0.2200 | -0.5400 | -0.4755 | -0.3290 | -0.0532 | 0.0398 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/27/21 | 1/25/22 | 4/27/22 | 7/26/22 | 10/26/22 | 2/15/23 | 4/26/23 | 7/25/23 | 10/25/23 | 1/30/24 | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | 6,913 | 5,314 | - | - | 7,558 | 11,246 | 13,842 |
| Net Cash position 1 | - | - | 6,220 | 4,155 | - | - | - |
| Leverage (Debt/EBITDA) | 1.186 x | 0.5404 x | - | - | 2.907 x | 3.575 x | 2.211 x |
| Free Cash Flow 1 | -8,245 | 3,775 | 11,326 | 1,961 | -8,208 | -1,273 | -66 |
| ROE (net income / shareholders' equity) | 9.43% | 16% | 29% | 18.1% | -3% | -2.29% | 2.23% |
| ROA (Net income/ Total Assets) | 5.03% | 8.42% | 16.8% | 11.2% | -2.1% | -1.09% | 1.39% |
| Assets 1 | 59,853 | 63,275 | 71,300 | 80,300 | 80,828 | 139,465 | 142,621 |
| Book Value Per Share 2 | 17.70 | 19.50 | 25.20 | 28.40 | 26.10 | 24.80 | 25.90 |
| Cash Flow per Share | 2.480 | 5.250 | - | 7.990 | - | - | - |
| Capex 1 | 12,788 | 6,080 | 4,790 | 9,869 | 7,682 | 9,647 | 10,655 |
| Capex / Sales | 36.54% | 15.28% | 9.47% | 22.69% | 27.81% | 33.39% | 30.62% |
| Announcement Date | 2/18/20 | 1/28/21 | 1/25/22 | 2/15/23 | 1/30/24 | - | - |
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
Sell
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
6
Last Close Price
26
TWD
Average target price
28
TWD
Spread / Average Target
+7.69%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -17.07% | 1.48B | |
| +77.16% | 2,159B | |
| +20.41% | 623B | |
| +31.87% | 622B | |
| +6.78% | 254B | |
| +14.54% | 185B | |
| +4.12% | 162B | |
| +34.57% | 127B | |
| +35.67% | 105B | |
| +1.72% | 100B |
- Stock Market
- Equities
- 2337 Stock
- Financials Macronix International Co., Ltd.
