Financials Wafer Works Corporation

Equities

6182

TW0006182009

Semiconductors

End-of-day quote Taipei Exchange 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
39.2 TWD 0.00% Intraday chart for Wafer Works Corporation +0.90% -9.47%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 18,571 21,866 46,247 22,070 23,464 21,276 -
Enterprise Value (EV) 1 18,571 21,866 46,912 22,063 23,464 25,054 24,671
P/E ratio 15.1 x 42 x 42.5 x 10.2 x 41.2 x 51.6 x -
Yield 4.95% 2.57% 1.58% 6.13% - 1.03% 0.74%
Capitalization / Revenue 2.42 x 2.95 x 4.47 x 1.74 x 2.34 x 2.02 x 1.49 x
EV / Revenue 2.42 x 2.95 x 4.54 x 1.74 x 2.34 x 2.37 x 1.72 x
EV / EBITDA 8.24 x 11.6 x 14 x 4.46 x 7.74 x 8.11 x 4.34 x
EV / FCF - - 110 x 8.88 x - -9.36 x -
FCF Yield - - 0.91% 11.3% - -10.7% -
Price to Book 2 x 2.41 x 4.09 x 1.71 x - 1.77 x 1.61 x
Nbr of stocks (in thousands) 510,898 510,898 540,898 540,934 541,884 542,744 -
Reference price 2 36.35 42.80 85.50 40.80 43.30 39.20 39.20
Announcement Date 3/23/20 3/24/21 3/23/22 3/16/23 3/29/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 7,677 7,422 10,341 12,677 10,048 10,558 14,305
EBITDA 1 2,255 1,883 3,351 4,948 3,032 3,089 5,681
EBIT 1 1,305 734.3 1,990 3,334 1,366 1,201 2,745
Operating Margin 17% 9.89% 19.24% 26.3% 13.59% 11.37% 19.19%
Earnings before Tax (EBT) 1 1,550 - 1,869 3,706 1,451 1,143 -
Net income 1 - - 1,051 2,165 568.8 410 -
Net margin - - 10.16% 17.08% 5.66% 3.88% -
EPS 2 2.410 1.020 2.010 4.000 1.050 0.7600 -
Free Cash Flow 1 - - 428.2 2,486 - -2,678 -
FCF margin - - 4.14% 19.61% - -25.37% -
FCF Conversion (EBITDA) - - 12.78% 50.24% - - -
FCF Conversion (Net income) - - 40.76% 114.83% - - -
Dividend per Share 2 1.800 1.100 1.350 2.500 - 0.4050 0.2900
Announcement Date 3/23/20 3/24/21 3/23/22 3/16/23 3/29/24 - -
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
Net sales 1 2,629 2,933 3,038 3,116 3,401 3,122 2,705 2,544 2,648 2,151 2,451 2,587 2,833 3,062
EBITDA 1 - - - 1,244 1,211 1,270 - 820.9 684.7 598.4 666 708 784 851
EBIT 1 602.4 605 860.5 849.3 828.4 795.5 521 414.9 261.9 168.1 229 259 322 375
Operating Margin 22.91% 20.63% 28.33% 27.25% 24.36% 25.48% 19.26% 16.31% 9.89% 7.81% 9.34% 10.01% 11.37% 12.25%
Earnings before Tax (EBT) 1 571.3 598.6 876.9 856.8 1,303 669.7 491.3 457 398.6 103.8 221 249 310 363
Net income 1 310.8 361.5 486.9 540.1 705.2 432.7 270.2 168.8 123.6 6.105 72 84 107 147
Net margin 11.82% 12.32% 16.03% 17.33% 20.73% 13.86% 9.99% 6.64% 4.67% 0.28% 2.94% 3.25% 3.78% 4.8%
EPS 2 0.6000 0.6700 0.8900 0.9900 1.300 0.8000 0.5000 0.3100 0.2300 0.0100 0.1300 0.1600 0.2000 0.2700
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 11/4/21 3/23/22 5/6/22 8/4/22 11/4/22 3/16/23 5/13/23 8/4/23 11/3/23 3/29/24 - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - 665 - - 3,778 3,396
Net Cash position 1 - - - 7.2 - - -
Leverage (Debt/EBITDA) - - 0.1986 x - - 1.223 x 0.5978 x
Free Cash Flow 1 - - 428 2,486 - -2,678 -
ROE (net income / shareholders' equity) 13.2% - 10.4% 17.8% - 3.93% 13.4%
ROA (Net income/ Total Assets) - - 4.89% 7.71% - 1.4% -
Assets 1 - - 21,484 28,063 - 29,286 -
Book Value Per Share 2 18.20 17.80 20.90 23.80 - 22.20 24.40
Cash Flow per Share 2 - 1.020 5.130 9.610 - 3.680 -
Capex 1 - - 2,254 2,794 - 4,800 -
Capex / Sales - - 21.79% 22.04% - 45.46% -
Announcement Date 3/23/20 3/24/21 3/23/22 3/16/23 3/29/24 - -
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-
More Ratings
Sell
Consensus
Buy
Mean consensus
SELL
Number of Analysts
2
Last Close Price
39.2 TWD
Average target price
31 TWD
Spread / Average Target
-20.92%
Consensus
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