Financials VINA TECH Co.,Ltd.

Equities

A126340

KR7126340009

Electronic Equipment & Parts

End-of-day quote Korea S.E. Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
46,500 ^KRW	+2.76%		-0.85%	+0.11%

2023	VINATech Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2023	CI
2022	VINATech Co., Ltd.'s Equity Buyback announced on January 27, 2022 has expired with the repurchase of 48,534 shares, representing 0.95% for KRW 1,922.45 million.	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	82,089	280,991	245,094	222,755	274,805	274,708	-	-
Enterprise Value (EV) ²	82.09	281	245.1	258.2	274.8	374.4	386.6	274.7
P/E ratio	17.9 x	79.1 x	-	17.8 x	-	60.6 x	44.8 x	-
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	1.92 x	6.02 x	5.01 x	3.15 x	5 x	3.8 x	2.92 x	1.25 x
EV / Revenue	1.92 x	6.02 x	5.01 x	3.65 x	5 x	5.18 x	4.1 x	1.25 x
EV / EBITDA	-	-	28.2 x	18.3 x	-	24.2 x	17.7 x	6.57 x
EV / FCF	-	-	-10 x	-20.6 x	-	-11.8 x	-28.9 x	-
FCF Yield	-	-	-9.95%	-4.84%	-	-8.44%	-3.47%	-
Price to Book	-	-	4.84 x	3.48 x	-	4.4 x	4.23 x	-
Nbr of stocks (in thousands)	5,170	5,958	5,618	5,847	5,916	5,908	-	-
Reference price ³	15,878	47,166	43,628	38,095	46,450	46,500	46,500	46,500
Announcement Date	3/30/20	3/19/21	3/11/22	3/13/23	2/23/24	-	-	-

¹KRW in Million²KRW in Billions³KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	42.76	46.69	48.96	70.66	54.96	72.3	94.2	219
EBITDA ¹	-	-	8.699	14.08	-	15.5	21.9	41.8
EBIT ¹	-	6.362	5.695	9.351	3.259	8.2	11.8	29
Operating Margin	-	13.63%	11.63%	13.23%	5.93%	11.34%	12.53%	13.24%
Earnings before Tax (EBT) ¹	-	-	-	8.606	1.041	6.3	9	24.6
Net income ¹	-	3.174	-	11.95	1.75	4.9	7	19.2
Net margin	-	6.8%	-	16.91%	3.18%	6.78%	7.43%	8.77%
EPS ²	886.1	596.0	-	2,143	-	767.6	1,039	-
Free Cash Flow ³	-	-	-24,393	-12,507	-	-31,600	-13,400	-
FCF margin	-	-	-49,823.57%	-17,700.38%	-	-43,706.78%	-14,225.05%	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	3/30/20	3/19/21	3/11/22	3/13/23	2/23/24	-	-	-

¹KRW in Billions²KRW³KRW in Million

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q2	2023 Q3
Net sales ¹	11.9	13.76	16.24	21.18	14.64	18.59	14.72	13.51
EBITDA	-	-	-	-	-	-	-	-
EBIT ¹	-	2.2	1.899	4.773	1.103	1.575	1.118	1.489
Operating Margin	-	15.98%	11.7%	22.53%	7.53%	8.47%	7.6%	11.02%
Earnings before Tax (EBT) ¹	-	-	2.217	6.032	4.103	-3.746	0.6064	0.8818
Net income	-	-	2.605	5.785	4.343	-0.231	-	-
Net margin	-	-	16.04%	27.31%	29.66%	-1.24%	-	-
EPS	469.1	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	11/26/21	3/11/22	5/16/22	8/12/22	11/14/22	3/13/23	8/14/23	11/14/23

¹KRW in Billions

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	35.5	-	99.7	112	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	2.518 x	-	6.432 x	5.11 x	-
Free Cash Flow ²	-	-	-24,393	-12,507	-	-31,600	-13,400	-
ROE (net income / shareholders' equity)	-	14.8%	16%	21.4%	2.77%	7.2%	9.4%	-
ROA (Net income/ Total Assets)	-	-	8.37%	10.1%	-	3.1%	3.7%	-
Assets ¹	-	-	-	118.7	-	158.1	189.2	-
Book Value Per Share ³	-	-	9,018	10,951	-	10,560	11,005	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	-	-	28.5	23.9	-	35	30	-
Capex / Sales	-	-	58.14%	33.8%	-	48.41%	31.85%	-
Announcement Date	3/30/20	3/19/21	3/11/22	3/13/23	2/23/24	-	-	-

¹KRW in Billions²KRW in Million³KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for VINA TECH Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

46,500 KRW

Average target price

76,190 KRW

Spread / Average Target

+63.85%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Electronic Component

	1st Jan change	Capi.
VINA TECH CO.,LTD.	+0.11%	200M
AMPHENOL CORPORATION	+21.55%	72.37B
HON HAI PRECISION INDUSTRY CO., LTD.	+48.33%	65.86B
MURATA MANUFACTURING CO., LTD	-4.21%	34.41B
LUXSHARE PRECISION INDUSTRY CO., LTD.	-16.43%	28.52B
JABIL INC.	-7.17%	14.26B
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD.	-13.03%	9.92B
LENS TECHNOLOGY CO., LTD.	+5.83%	9.52B
SUZHOU TFC OPTICAL COMMUNICATION CO., LTD.	+71.16%	8.54B
COHERENT CORP.	+26.49%	8.36B

Electronic Component