PRIMAX ELECTRONICS LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 87.4 TWD | +2.22% |
|
+2.34% | +29.10% |
| Apr. 03 | Primax Electronics Ltd. Unveils Comprehensive Range of Next-Gen Surveillance and Advanced Door Locks | CI |
| Feb. 26 | Primax Electronics Ltd. Proposes Cash Dividend for the Year 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 28,440 | 21,981 | 25,813 | 25,435 | 31,343 | 40,460 | - |
| Enterprise Value (EV) 1 | 24,297 | 17,104 | 24,466 | 20,104 | 21,903 | 30,272 | 28,885 |
| P/E ratio | 13.2 x | 11.4 x | 11.1 x | 9.22 x | 12.3 x | 14.3 x | 12.2 x |
| Yield | 3.79% | 6.15% | 5.47% | 7.03% | 5.91% | 4.62% | 3.5% |
| Capitalization / Revenue | 0.35 x | 0.32 x | 0.36 x | 0.32 x | 0.52 x | 0.66 x | 0.6 x |
| EV / Revenue | 0.3 x | 0.25 x | 0.34 x | 0.25 x | 0.36 x | 0.49 x | 0.43 x |
| EV / EBITDA | 4.91 x | 3.78 x | 5.15 x | 3.84 x | 4.7 x | 5.79 x | 4.97 x |
| EV / FCF | 7.73 x | 13.4 x | -17.8 x | 4.72 x | 3.56 x | 9.58 x | 8.85 x |
| FCF Yield | 12.9% | 7.44% | -5.6% | 21.2% | 28.1% | 10.4% | 11.3% |
| Price to Book | 2.29 x | 1.65 x | 1.82 x | 1.56 x | 1.84 x | 2.15 x | 1.99 x |
| Nbr of stocks (in thousands) | 448,581 | 450,898 | 455,263 | 458,289 | 462,974 | 462,932 | - |
| Reference price 2 | 63.40 | 48.75 | 56.70 | 55.50 | 67.70 | 87.40 | 87.40 |
| Announcement Date | 2/14/20 | 2/17/21 | 2/25/22 | 2/24/23 | 2/26/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 80,650 | 68,241 | 71,650 | 79,241 | 60,488 | 61,289 | 67,646 |
| EBITDA 1 | 4,953 | 4,529 | 4,754 | 5,232 | 4,656 | 5,226 | 5,807 |
| EBIT 1 | 2,793 | 2,300 | 2,813 | 3,345 | 2,743 | 3,130 | 3,810 |
| Operating Margin | 3.46% | 3.37% | 3.93% | 4.22% | 4.53% | 5.11% | 5.63% |
| Earnings before Tax (EBT) 1 | 2,930 | 2,478 | 3,030 | 3,629 | 3,266 | 3,501 | 4,131 |
| Net income 1 | 2,133 | 1,919 | 2,298 | 2,743 | 2,485 | 2,699 | 3,151 |
| Net margin | 2.64% | 2.81% | 3.21% | 3.46% | 4.11% | 4.4% | 4.66% |
| EPS 2 | 4.800 | 4.270 | 5.090 | 6.020 | 5.500 | 6.099 | 7.158 |
| Free Cash Flow 1 | 3,143 | 1,272 | -1,371 | 4,263 | 6,156 | 3,161 | 3,263 |
| FCF margin | 3.9% | 1.86% | -1.91% | 5.38% | 10.18% | 5.16% | 4.82% |
| FCF Conversion (EBITDA) | 63.46% | 28.08% | - | 81.47% | 132.21% | 60.49% | 56.2% |
| FCF Conversion (Net income) | 147.39% | 66.28% | - | 155.43% | 247.7% | 117.14% | 103.57% |
| Dividend per Share 2 | 2.400 | 3.000 | 3.100 | 3.900 | 4.000 | 4.035 | 3.058 |
| Announcement Date | 2/14/20 | 2/17/21 | 2/25/22 | 2/24/23 | 2/26/24 | - | - |
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 | 17,669 | 20,374 | 17,894 | 20,283 | 22,339 | 18,724 | 14,677 | 16,065 | 15,723 | 14,023 | 13,450 | 14,559 | 16,183 | 16,834 | 15,169 |
| EBITDA 1 | 1,213 | 1,291 | 1,077 | - | 1,517 | 1,244 | 1,057 | 1,278 | 1,303 | 1,019 | 1,070 | 1,195 | 1,512 | - | - |
| EBIT 1 | 738.2 | 824.6 | 613 | 920.5 | 1,046 | 765.2 | 571.7 | 800.9 | 835.2 | 535.2 | 488 | 629 | 898 | 1,183 | 818 |
| Operating Margin | 4.18% | 4.05% | 3.43% | 4.54% | 4.68% | 4.09% | 3.9% | 4.99% | 5.31% | 3.82% | 3.63% | 4.32% | 5.55% | 7.03% | 5.39% |
| Earnings before Tax (EBT) 1 | 868.4 | 732.8 | 687 | 958.8 | 1,190 | 793.1 | 712.3 | 956.2 | 993.1 | 604.9 | 577 | 727 | 991 | 1,273 | 860 |
| Net income 1 | 671.8 | 510.2 | 552 | 711.1 | 877.6 | 601.7 | 554.9 | 699.2 | 736.6 | 494.6 | 461 | 582 | 793 | 1,018 | 688 |
| Net margin | 3.8% | 2.5% | 3.08% | 3.51% | 3.93% | 3.21% | 3.78% | 4.35% | 4.68% | 3.53% | 3.43% | 4% | 4.9% | 6.05% | 4.54% |
| EPS 2 | 1.490 | 1.130 | 1.230 | 1.570 | 1.930 | 1.300 | 1.230 | 1.550 | 1.630 | 1.090 | 1.000 | 1.260 | 1.710 | 2.200 | 1.490 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/4/21 | 2/25/22 | 4/25/22 | 8/5/22 | 11/4/22 | 2/24/23 | 5/9/23 | 7/27/23 | 10/31/23 | 2/26/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - |
| Net Cash position 1 | 4,143 | 4,877 | 1,347 | 5,332 | 9,440 | 10,189 | 11,576 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 3,143 | 1,272 | -1,371 | 4,263 | 6,156 | 3,161 | 3,263 |
| ROE (net income / shareholders' equity) | 17.8% | 15% | 16.7% | 18% | 14.9% | 14.3% | 15.5% |
| ROA (Net income/ Total Assets) | 4.43% | 3.82% | 4.75% | 5.67% | 5.3% | 4.63% | 5.81% |
| Assets 1 | 48,103 | 50,227 | 48,391 | 48,369 | 46,908 | 58,285 | 54,234 |
| Book Value Per Share 2 | 27.70 | 29.50 | 31.10 | 35.70 | 36.70 | 40.70 | 43.90 |
| Cash Flow per Share | - | - | 3.680 | 13.60 | 16.80 | - | - |
| Capex 1 | 3,485 | 2,689 | 3,044 | 1,931 | 1,572 | 1,000 | 1,300 |
| Capex / Sales | 4.32% | 3.94% | 4.25% | 2.44% | 2.6% | 1.63% | 1.92% |
| Announcement Date | 2/14/20 | 2/17/21 | 2/25/22 | 2/24/23 | 2/26/24 | - | - |
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
OUTPERFORM
Number of Analysts
7
Last Close Price
87.4
TWD
Average target price
78.08
TWD
Spread / Average Target
-10.67%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +29.10% | 1.24B | |
| +29.68% | 5.77B | |
| +15.71% | 4.5B | |
| -10.50% | 1.44B | |
| -3.85% | 1.42B | |
| +10.64% | 1.2B | |
| +6.26% | 1.07B | |
| +102.67% | 805M | |
| +1.01% | 652M | |
| +7.47% | 650M |
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