Company Valuation: Merry Electronics Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 30,670 20,490 17,379 24,018 27,377 28,180 -
Change - -33.19% -15.18% 38.2% 13.99% 2.93% -
Enterprise Value (EV) 31,428 22,346 16,086 22,881 27,377 28,180 28,180
Change - -28.9% -28.01% 42.24% 19.65% 2.93% 0%
P/E ratio 24.4x 19.3x 13.1x 19.9x 12.9x 16.5x 12.7x
PBR 2.61x 1.76x 1.41x 2.09x 1.52x 1.65x -
PEG - -1x 0.5x -2.08x 0.2x -0.9x 0.4x
Capitalization / Revenue 0.89x 0.57x 0.49x 0.65x 0.62x 0.63x 0.59x
EV / Revenue 0x 0x 0x 0x 0x 0.63x 0.59x
EV / EBITDA 0x 0x 0x 0x 0x 11.5x 10.6x
EV / EBIT 0x 0x 0x 0x 0x 18.1x 12.8x
EV / FCF -0x 0x 0x 0x 0x 9.61x -
FCF Yield -15.5% 6.93% 23.5% 7.05% 4.53% 10.4% -
Dividend per Share 2 5.16 4 4.5 4.7 - - -
Rate of return 3.52% 4.24% 5.65% 4.29% - - -
EPS 2 6.01 4.88 6.07 5.49 8.37 6.8 8.89
Distribution rate 85.9% 82% 74.1% 85.6% - - -
Net sales 1 34,445 36,183 35,399 36,690 43,855 44,518 47,596
EBITDA 1 1,751 1,825 1,837 1,962 2,678 2,448 2,665
EBIT 1 1,141 1,099 1,073 1,138 1,862 1,558 2,197
Net income 1 1,322 1,128 1,455 1,320 2,143 1,729 2,253
Net Debt 757.8 1,857 -1,292 -1,137 - - -
Reference price 2 146.50 94.40 79.70 109.50 108.00 112.50 112.50
Nbr of stocks (in thousands) 209,352 217,053 218,052 219,343 253,494 250,489 -
Announcement Date 2/25/21 2/24/22 2/24/23 2/22/24 2/27/25 - -
1TWD in Million2TWD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.47x - - - 960M
14.26x0.97x4.14x2.33% 298B
21.93x - - 3.58% 2.12B
30.54x5.93x23.04x0.5% 1.06B
71.67x3.57x17.29x - 696M
31.04x0.32x6.64x5.23% 675M
-73.71x - - - 148M
Average 16.03x 2.69x 12.78x 2.91% 43.43B
Weighted average by Cap. 14.51x 0.99x 4.24x 2.34%
See all sector valuations

Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Merry Electronics Co., Ltd.