Stock 3426 TAI SHING ELECTRONICS COMPONENTS CORPORATION
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Financials Tai Shing Electronics Components Corporation

Equities

3426

TW0003426003

Electrical Components & Equipment

End-of-day quote Taipei Exchange
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
44.15 TWD +1.38% Intraday chart for Tai Shing Electronics Components Corporation +1.26% +10.65%
Mar. 15 Tai Shing Electronics Components Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 CI
Mar. 11 Tai Shing Electronics Components Corporation Announces Cash Dividend for the Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,365 1,094 1,018 1,026 997.9 1,053
Enterprise Value (EV) 1 737.7 484.1 411.4 519.1 486.1 558.6
P/E ratio 13.8 x 18.8 x 17.9 x 15.7 x 13.5 x 17 x
Yield 4.84% 4.83% 5.19% 5.15% 6.08% 5.01%
Capitalization / Revenue 1.64 x 1.8 x 1.72 x 1.44 x 1.39 x 1.66 x
EV / Revenue 0.89 x 0.79 x 0.69 x 0.73 x 0.68 x 0.88 x
EV / EBITDA 5.56 x 6.57 x 5.14 x 6.21 x 6 x 8.19 x
EV / FCF 8.7 x 7.05 x 17.5 x -21.2 x 11.3 x 16.4 x
FCF Yield 11.5% 14.2% 5.7% -4.72% 8.88% 6.11%
Price to Book 2.04 x 1.71 x 1.56 x 1.55 x 1.44 x 1.54 x
Nbr of stocks (in thousands) 26,400 26,400 26,400 26,400 26,400 26,400
Reference price 2 51.70 41.45 38.55 38.85 37.80 39.90
Announcement Date 3/28/19 3/31/20 3/30/21 3/23/22 3/22/23 3/15/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 832 609.3 592.8 711.9 717 635.2
EBITDA 1 132.7 73.72 79.96 83.64 81.02 68.17
EBIT 1 128 67.15 72.86 74.92 68.13 52.97
Operating Margin 15.38% 11.02% 12.29% 10.52% 9.5% 8.34%
Earnings before Tax (EBT) 1 155.7 83.42 76.89 88.73 103.9 77.63
Net income 1 99.38 58.36 57.08 65.45 74.58 62.26
Net margin 11.94% 9.58% 9.63% 9.19% 10.4% 9.8%
EPS 2 3.740 2.200 2.150 2.470 2.810 2.350
Free Cash Flow 1 84.75 68.64 23.45 -24.51 43.16 34.14
FCF margin 10.19% 11.26% 3.95% -3.44% 6.02% 5.38%
FCF Conversion (EBITDA) 63.84% 93.11% 29.32% - 53.28% 50.09%
FCF Conversion (Net income) 85.28% 117.62% 41.08% - 57.87% 54.85%
Dividend per Share 2 2.500 2.000 2.000 2.000 2.300 2.000
Announcement Date 3/28/19 3/31/20 3/30/21 3/23/22 3/22/23 3/15/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 627 610 606 507 512 495
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 84.7 68.6 23.4 -24.5 43.2 34.1
ROE (net income / shareholders' equity) 15.6% 8.92% 8.83% 9.95% 11% 9.04%
ROA (Net income/ Total Assets) 8.8% 4.41% 4.63% 4.57% 4.15% 3.3%
Assets 1 1,129 1,323 1,232 1,433 1,799 1,886
Book Value Per Share 2 25.30 24.20 24.70 25.10 26.30 25.90
Cash Flow per Share 2 8.830 13.90 12.50 8.760 7.540 7.350
Capex 1 8.66 14.9 15.1 36.5 21.6 31.5
Capex / Sales 1.04% 2.44% 2.54% 5.13% 3.01% 4.96%
Announcement Date 3/28/19 3/31/20 3/30/21 3/23/22 3/22/23 3/15/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Electrical Component

1st Jan change Capi.
TAI SHING ELECTRONICS COMPONENTS CORPORATION Stock Tai Shing Electronics Components Corporation
+10.65% 35.73M
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Electrical Component
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