SERCOMM CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 123 TWD | +0.82% |
|
+1.23% | -8.55% |
| Mar. 06 | Sercomm Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| Mar. 05 | Sercomm Corporation Announces Cash Dividend, Payable on May 3, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 19,087 | 19,638 | 19,106 | 19,746 | 36,124 | 36,399 | - |
| Enterprise Value (EV) 1 | 15,577 | 18,026 | 21,710 | 19,746 | 34,029 | 33,888 | 36,399 |
| P/E ratio | 18.9 x | 21.9 x | 22.9 x | 10.6 x | 14.7 x | 12 x | 10.4 x |
| Yield | 3.86% | 3.33% | 3.17% | - | 3.72% | 4.88% | 7.66% |
| Capitalization / Revenue | 0.6 x | 0.54 x | 0.44 x | 0.31 x | 0.58 x | 0.53 x | 0.46 x |
| EV / Revenue | 0.49 x | 0.5 x | 0.49 x | 0.31 x | 0.54 x | 0.49 x | 0.46 x |
| EV / EBITDA | 9.5 x | 9.78 x | 11.5 x | 5.96 x | 8.43 x | 6.38 x | 10.7 x |
| EV / FCF | 17.2 x | -67.8 x | -5.92 x | - | 59.8 x | 12.6 x | 13.5 x |
| FCF Yield | 5.81% | -1.47% | -16.9% | - | 1.67% | 7.95% | 7.42% |
| Price to Book | 2.52 x | 2.53 x | 2.32 x | - | 2.65 x | 2.74 x | 1.85 x |
| Nbr of stocks (in thousands) | 245,654 | 251,775 | 252,390 | 258,796 | 268,578 | 295,925 | - |
| Reference price 2 | 77.70 | 78.00 | 75.70 | 76.30 | 134.5 | 123.0 | 123.0 |
| Announcement Date | 3/17/20 | 3/24/21 | 3/10/22 | 3/10/23 | 3/5/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 31,797 | 36,096 | 43,900 | 64,574 | 62,584 | 69,009 | 79,218 |
| EBITDA 1 | 1,640 | 1,844 | 1,886 | 3,312 | 4,036 | 5,312 | 3,416 |
| EBIT 1 | 986.9 | 1,135 | 1,053 | 2,418 | 3,114 | 3,629 | 4,548 |
| Operating Margin | 3.1% | 3.14% | 2.4% | 3.74% | 4.97% | 5.26% | 5.74% |
| Earnings before Tax (EBT) 1 | 1,278 | 1,109 | 1,026 | 2,309 | 2,988 | 3,564 | 4,312 |
| Net income 1 | 1,033 | 907.3 | 861.2 | 1,919 | 2,386 | 2,904 | 3,493 |
| Net margin | 3.25% | 2.51% | 1.96% | 2.97% | 3.81% | 4.21% | 4.41% |
| EPS 2 | 4.110 | 3.560 | 3.300 | 7.220 | 9.170 | 10.22 | 11.80 |
| Free Cash Flow 1 | 905 | -265.9 | -3,665 | - | 569.3 | 2,693 | 2,702 |
| FCF margin | 2.85% | -0.74% | -8.35% | - | 0.91% | 3.9% | 3.41% |
| FCF Conversion (EBITDA) | 55.17% | - | - | - | 14.11% | 50.7% | 79.1% |
| FCF Conversion (Net income) | 87.62% | - | - | - | 23.86% | 92.72% | 77.35% |
| Dividend per Share 2 | 3.000 | 2.600 | 2.400 | - | 5.000 | 6.000 | 9.420 |
| Announcement Date | 3/17/20 | 3/24/21 | 3/10/22 | 3/10/23 | 3/5/24 | - | - |
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 | 11,100 | 13,198 | 12,674 | 15,216 | 18,277 | 18,407 | 15,659 | 15,666 | 15,625 | 15,634 | 15,951 | 16,358 | 17,983 | 18,716 | 16,233 |
| EBITDA 1 | 441.9 | 667.4 | 592.4 | - | 914.9 | 1,014 | 879.6 | - | 1,087 | 1,128 | 1,189 | 1,280 | 1,385 | 1,459 | - |
| EBIT 1 | 233.6 | 450.4 | 375.5 | 564.6 | 687.8 | 789.7 | 654.5 | 712.5 | 857.6 | 888.9 | 829 | 824 | 952.7 | 1,023 | 889 |
| Operating Margin | 2.1% | 3.41% | 2.96% | 3.71% | 3.76% | 4.29% | 4.18% | 4.55% | 5.49% | 5.69% | 5.2% | 5.04% | 5.3% | 5.47% | 5.48% |
| Earnings before Tax (EBT) 1 | 241.6 | 437.1 | 381.1 | 547.4 | 638.1 | 742.7 | 610.8 | 674.1 | 807.9 | 895.2 | 815.3 | 810 | 939.3 | 999.3 | 843 |
| Net income 1 | 183.1 | 373.6 | 326.4 | 452.3 | 527.7 | 613 | 505.8 | 526.6 | 655.8 | 698.1 | 664.7 | 660 | 765.3 | 814.3 | 683 |
| Net margin | 1.65% | 2.83% | 2.58% | 2.97% | 2.89% | 3.33% | 3.23% | 3.36% | 4.2% | 4.47% | 4.17% | 4.03% | 4.26% | 4.35% | 4.21% |
| EPS 2 | 0.7100 | 1.430 | 1.250 | 1.740 | 2.020 | 2.250 | 1.910 | 2.000 | 2.530 | 2.620 | 2.342 | 2.370 | 2.692 | 2.870 | 2.310 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/10/21 | 3/10/22 | 5/12/22 | 8/5/22 | 11/10/22 | 3/10/23 | 5/11/23 | 7/28/23 | 11/9/23 | 3/5/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 2,604 | - | - | - | - |
| Net Cash position 1 | 3,510 | 1,613 | - | - | 2,095 | 2,511 | - |
| Leverage (Debt/EBITDA) | - | - | 1.38 x | - | - | - | - |
| Free Cash Flow 1 | 905 | -266 | -3,665 | - | 569 | 2,693 | 2,702 |
| ROE (net income / shareholders' equity) | 14.1% | 11.8% | 10.8% | - | 20.7% | 24.8% | 23.2% |
| ROA (Net income/ Total Assets) | 4.17% | 3.2% | 2.65% | - | 5.19% | 7.44% | 6.59% |
| Assets 1 | 24,772 | 28,378 | 32,487 | - | 46,020 | 39,050 | 53,045 |
| Book Value Per Share 2 | 30.80 | 30.90 | 32.70 | - | 50.80 | 44.90 | 66.60 |
| Cash Flow per Share 2 | 5.830 | 4.680 | -10.70 | - | 6.070 | 12.60 | - |
| Capex 1 | 560 | 1,426 | 885 | - | 1,010 | 863 | 1,100 |
| Capex / Sales | 1.76% | 3.95% | 2.02% | - | 1.61% | 1.25% | 1.39% |
| Announcement Date | 3/17/20 | 3/24/21 | 3/10/22 | 3/10/23 | 3/5/24 | - | - |
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
BUY
Number of Analysts
5
Last Close Price
123
TWD
Average target price
164.6
TWD
Spread / Average Target
+33.82%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -8.55% | 1.12B | |
| -18.16% | 7.32B | |
| -18.03% | 2.79B | |
| +23.55% | 2.4B | |
| -34.24% | 1.49B | |
| -15.94% | 1.24B | |
| +0.59% | 1.16B | |
| -14.22% | 757M | |
| +56.03% | 716M | |
| -14.83% | 534M |
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