WILL SEMICONDUCTOR CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 96.71 CNY | +3.01% |
|
+3.64% | -9.37% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 123,849 | 200,502 | 271,880 | 91,299 | 129,706 | 115,909 | - | - |
| Enterprise Value (EV) 1 | 125,717 | 201,269 | 273,652 | 99,921 | 131,596 | 120,914 | 120,587 | 110,835 |
| P/E ratio | 196 x | 72.4 x | 60.5 x | 91.8 x | 227 x | 38.6 x | 26.1 x | 20 x |
| Yield | 0.05% | 0.14% | 0.17% | 0.11% | 0.13% | 0.35% | 0.42% | 0.71% |
| Capitalization / Revenue | 9.09 x | 10.1 x | 11.3 x | 4.55 x | 6.17 x | 4.48 x | 3.66 x | 3.36 x |
| EV / Revenue | 9.22 x | 10.2 x | 11.4 x | 4.98 x | 6.26 x | 4.68 x | 3.81 x | 3.21 x |
| EV / EBITDA | 92.2 x | 54.1 x | 46.6 x | 44.1 x | 75.6 x | 28.6 x | 19.3 x | 16 x |
| EV / FCF | - | 90.8 x | 255 x | -23.5 x | 20.3 x | 39.6 x | 50.8 x | 34.9 x |
| FCF Yield | - | 1.1% | 0.39% | -4.25% | 4.94% | 2.52% | 1.97% | 2.87% |
| Price to Book | 15.6 x | 17.8 x | 17 x | 5.14 x | 6.11 x | 4.82 x | 4.6 x | 3.54 x |
| Nbr of stocks (in thousands) | 1,165,945 | 1,171,260 | 1,181,060 | 1,184,311 | 1,215,504 | 1,198,516 | - | - |
| Reference price 2 | 106.2 | 171.2 | 230.2 | 77.09 | 106.7 | 96.71 | 96.71 | 96.71 |
| Announcement Date | 4/9/20 | 3/8/21 | 4/18/22 | 4/7/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 13,632 | 19,824 | 24,104 | 20,078 | 21,021 | 25,857 | 31,629 | 34,523 |
| EBITDA 1 | 1,363 | 3,722 | 5,879 | 2,267 | 1,741 | 4,233 | 6,246 | 6,937 |
| EBIT 1 | 785.1 | 2,956 | 5,000 | 1,298 | 666.8 | 3,487 | 5,281 | 6,363 |
| Operating Margin | 5.76% | 14.91% | 20.74% | 6.47% | 3.17% | 13.48% | 16.7% | 18.43% |
| Earnings before Tax (EBT) 1 | 784.5 | 2,991 | 5,002 | 1,301 | 691.4 | 3,598 | 5,179 | 6,281 |
| Net income 1 | 465.6 | 2,706 | 4,476 | 990.1 | 555.6 | 3,043 | 4,309 | 5,281 |
| Net margin | 3.42% | 13.65% | 18.57% | 4.93% | 2.64% | 11.77% | 13.62% | 15.3% |
| EPS 2 | 0.5407 | 2.363 | 3.807 | 0.8400 | 0.4700 | 2.506 | 3.700 | 4.830 |
| Free Cash Flow 1 | - | 2,217 | 1,073 | -4,245 | 6,495 | 3,050 | 2,375 | 3,178 |
| FCF margin | - | 11.19% | 4.45% | -21.14% | 30.9% | 11.8% | 7.51% | 9.21% |
| FCF Conversion (EBITDA) | - | 59.58% | 18.25% | - | 373.06% | 72.05% | 38.03% | 45.81% |
| FCF Conversion (Net income) | - | 81.94% | 23.97% | - | 1,168.98% | 100.22% | 55.13% | 60.18% |
| Dividend per Share 2 | 0.0518 | 0.2333 | 0.3852 | 0.0840 | 0.1400 | 0.3364 | 0.4058 | 0.6890 |
| Announcement Date | 4/9/20 | 3/8/21 | 4/18/22 | 4/7/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2020 S2 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,043 | 11,781 | 5,789 | 5,538 | 5,533 | 4,311 | 4,695 | 9,006 | 4,335 | 4,523 | 6,223 | 5,939 | 5,644 | 6,496 | 7,436 | 7,826 | 6,760 | 7,695 |
| EBITDA 1 | - | - | 1,213 | 1,385 | 871.9 | 777 | - | - | - | - | - | - | - | 1,116 | 1,366 | 1,537 | 1,233 | 1,598 |
| EBIT 1 | - | 1,908 | 1,088 | 932.5 | 880.4 | -121.5 | -1,061 | -1,183 | 259.5 | -71.49 | 284.5 | 194.2 | 575.7 | 863.5 | 1,181 | 1,314 | 939.8 | 1,225 |
| Operating Margin | - | 16.19% | 18.79% | 16.84% | 15.91% | -2.82% | -22.6% | -13.13% | 5.99% | -1.58% | 4.57% | 3.27% | 10.2% | 13.29% | 15.88% | 16.79% | 13.9% | 15.93% |
| Earnings before Tax (EBT) 1 | - | 1,916 | 1,092 | 933.3 | 1,547 | -116.8 | -1,063 | -1,179 | 260.9 | -72 | 289 | 213.5 | 583.7 | 764.3 | 1,066 | 1,198 | 909 | 1,118 |
| Net income 1 | 990.1 | 1,716 | 957.7 | 896.2 | 1,373 | -120 | -1,159 | -1,279 | 198.9 | -45.74 | 215.3 | 187.2 | 557.8 | 624.5 | 876.3 | 984.7 | 684 | 841 |
| Net margin | 12.31% | 14.57% | 16.54% | 16.18% | 24.81% | -2.78% | -24.68% | -14.2% | 4.59% | -1.01% | 3.46% | 3.15% | 9.88% | 9.61% | 11.78% | 12.58% | 10.12% | 10.93% |
| EPS 2 | - | 1.481 | 0.8222 | 0.7556 | 1.170 | -0.1000 | -0.9800 | -1.080 | 0.1700 | -0.0400 | 0.1800 | 0.1600 | 0.4600 | 0.5758 | 0.7637 | 0.8092 | 0.6760 | 0.8298 |
| Dividend per Share 2 | - | - | 0.3900 | - | - | - | - | - | - | - | - | - | - | - | - | 0.7208 | - | - |
| Announcement Date | 8/20/20 | 3/8/21 | 4/18/22 | 4/26/22 | 8/11/22 | 10/28/22 | 4/7/23 | 4/7/23 | 4/18/23 | 8/14/23 | 10/27/23 | 4/26/24 | 4/27/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,868 | 766 | 1,772 | 8,623 | 1,890 | 5,006 | 4,679 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | 5,074 |
| Leverage (Debt/EBITDA) | 1.371 x | 0.206 x | 0.3014 x | 3.804 x | 1.085 x | 1.183 x | 0.7492 x | - |
| Free Cash Flow 1 | - | 2,217 | 1,073 | -4,245 | 6,495 | 3,050 | 2,375 | 3,178 |
| ROE (net income / shareholders' equity) | 10.2% | 29.1% | 33.1% | 5.8% | 2.98% | 13.4% | 17.8% | 17.4% |
| ROA (Net income/ Total Assets) | 2.82% | 13.5% | 16.4% | - | - | 8.6% | 10.3% | 11.7% |
| Assets 1 | 16,535 | 20,062 | 27,364 | - | - | 35,387 | 42,018 | 45,138 |
| Book Value Per Share 2 | 6.800 | 9.600 | 13.50 | 15.00 | 17.50 | 20.10 | 21.00 | 27.30 |
| Cash Flow per Share 2 | 0.6900 | 2.860 | 1.850 | -1.680 | 6.200 | 4.220 | 3.810 | 4.500 |
| Capex 1 | 727 | 1,127 | 1,120 | 2,252 | 1,042 | 1,116 | 1,738 | 1,452 |
| Capex / Sales | 5.33% | 5.69% | 4.64% | 11.22% | 4.95% | 4.32% | 5.5% | 4.21% |
| Announcement Date | 4/9/20 | 3/8/21 | 4/18/22 | 4/7/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
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
C
Sell
Buy
Mean consensus
BUY
Number of Analysts
24
Last Close Price
96.71
CNY
Average target price
126.5
CNY
Spread / Average Target
+30.83%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.37% | 16B | |
| +77.16% | 2,159B | |
| +20.41% | 623B | |
| +31.87% | 622B | |
| +6.78% | 254B | |
| +14.54% | 185B | |
| +4.12% | 162B | |
| -36.56% | 136B | |
| +34.57% | 127B | |
| +35.67% | 105B |
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- Financials Will Semiconductor Co., Ltd.
