Financials Sun Max Tech Limited

Equities

6591

KYG8587R1074

Electrical Components & Equipment

End-of-day quote Taiwan S.E. 06:00:00 2024-05-02 pm EDT 5-day change 1st Jan Change
55.5 TWD 0.00% Intraday chart for Sun Max Tech Limited +0.91% +12.23%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 959.4 1,631 1,912 1,875 1,429 1,717
Enterprise Value (EV) 1 457.7 1,508 1,632 1,757 1,143 1,455
P/E ratio 13.1 x 19 x 11.5 x 9.31 x 6.68 x 16.3 x
Yield 3.67% 2.45% 4.46% 6.85% 9.4% 5.56%
Capitalization / Revenue 0.79 x 1.38 x 1.21 x 1.02 x 0.86 x 1.24 x
EV / Revenue 0.38 x 1.27 x 1.03 x 0.96 x 0.69 x 1.05 x
EV / EBITDA 4.16 x 9.06 x 4.75 x 4.53 x 3.55 x 7.58 x
EV / FCF 7.15 x -14.3 x -18 x -64.4 x 2.24 x 140 x
FCF Yield 14% -7.01% -5.56% -1.55% 44.6% 0.71%
Price to Book 1.08 x 1.63 x 1.43 x 1.24 x 0.83 x 1.01 x
Nbr of stocks (in thousands) 23,486 26,652 31,037 32,098 34,098 34,730
Reference price 2 40.85 61.20 61.60 58.40 41.90 49.45
Announcement Date 3/22/19 3/20/20 3/24/21 3/16/22 3/14/23 3/20/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,218 1,185 1,578 1,839 1,659 1,382
EBITDA 1 110 166.4 343.9 387.5 321.8 192
EBIT 1 83.78 137.3 299 333.2 259.8 122.3
Operating Margin 6.88% 11.59% 18.95% 18.12% 15.66% 8.85%
Earnings before Tax (EBT) 1 107.9 138.9 262 326 338.7 176.3
Net income 1 73.78 89.25 163.9 218.8 226 118.5
Net margin 6.06% 7.53% 10.38% 11.89% 13.63% 8.57%
EPS 2 3.110 3.218 5.355 6.275 6.272 3.035
Free Cash Flow 1 64.02 -105.6 -90.79 -27.29 509.7 10.36
FCF margin 5.26% -8.92% -5.75% -1.48% 30.73% 0.75%
FCF Conversion (EBITDA) 58.2% - - - 158.38% 5.39%
FCF Conversion (Net income) 86.77% - - - 225.5% 8.74%
Dividend per Share 2 1.500 1.500 2.750 4.000 3.939 2.750
Announcement Date 3/22/19 3/20/20 3/24/21 3/16/22 3/14/23 3/20/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 502 123 279 118 286 263
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 64 -106 -90.8 -27.3 510 10.4
ROE (net income / shareholders' equity) 8.32% 9.35% 13.7% 15.1% 13.9% 6.77%
ROA (Net income/ Total Assets) 3.69% 5.45% 9.02% 8.5% 5.95% 2.75%
Assets 1 2,002 1,637 1,817 2,572 3,800 4,315
Book Value Per Share 2 37.70 37.50 43.10 47.10 50.50 49.10
Cash Flow per Share 2 23.10 16.60 16.00 11.40 26.80 17.60
Capex 1 39.8 260 192 87.3 21.7 70.6
Capex / Sales 3.27% 21.94% 12.17% 4.75% 1.31% 5.11%
Announcement Date 3/22/19 3/20/20 3/24/21 3/16/22 3/14/23 3/20/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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