Financials WPG Holdings Limited

Equities

3702

TW0003702007

Semiconductors

End-of-day quote Taiwan S.E. 06:00:00 2024-04-28 pm EDT 5-day change 1st Jan Change
86.6 TWD +1.76% Intraday chart for WPG Holdings Limited -0.12% +6.13%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 73,471 72,032 88,318 80,763 137,011 145,406 - -
Enterprise Value (EV) 1 146,330 145,085 196,438 80,763 237,461 209,074 222,708 231,155
P/E ratio 10.2 x 8.99 x 7.97 x 7.99 x 17.8 x 18.8 x 15.1 x 9.38 x
Yield 6.14% 7.23% 6.65% - - 4.28% 5.46% 6.89%
Capitalization / Revenue 0.14 x 0.12 x 0.11 x 0.1 x 0.2 x 0.19 x 0.17 x 0.14 x
EV / Revenue 0.28 x 0.24 x 0.25 x 0.1 x 0.35 x 0.27 x 0.26 x 0.22 x
EV / EBITDA 14.3 x 13.3 x 13.3 x 5.14 x 20.6 x 14.2 x 13.2 x 11.3 x
EV / FCF - 12.3 x - - - -74.1 x - -
FCF Yield - 8.12% - - - -1.35% - -
Price to Book 1.03 x 1.1 x 1.25 x - 1.86 x 1.61 x 1.49 x 1.37 x
Nbr of stocks (in thousands) 1,879,057 1,679,057 1,679,057 1,679,057 1,679,057 1,679,057 - -
Reference price 2 39.10 42.90 52.60 48.10 81.60 86.60 86.60 86.60
Announcement Date 3/18/20 3/30/21 3/1/22 3/1/23 2/29/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 527,601 609,886 778,573 775,232 671,888 760,724 848,987 1,046,130
EBITDA 1 10,261 10,879 14,777 15,723 11,520 14,758 16,884 20,489
EBIT 1 9,613 10,050 13,804 14,700 10,395 12,920 15,002 19,451
Operating Margin 1.82% 1.65% 1.77% 1.9% 1.55% 1.7% 1.77% 1.86%
Earnings before Tax (EBT) 1 8,188 9,888 - 12,710 10,282 6,732 8,274 -
Net income 1 6,453 8,123 - 10,512 8,109 5,508 6,837 -
Net margin 1.22% 1.33% - 1.36% 1.21% 0.72% 0.81% -
EPS 2 3.840 4.770 6.600 6.020 4.590 4.595 5.745 9.230
Free Cash Flow 1 - 11,787 - - - -2,821 - -
FCF margin - 1.93% - - - -0.37% - -
FCF Conversion (EBITDA) - 108.35% - - - - - -
FCF Conversion (Net income) - 145.1% - - - - - -
Dividend per Share 2 2.400 3.100 3.500 - - 3.710 4.730 5.970
Announcement Date 3/18/20 3/30/21 3/1/22 3/1/23 2/29/24 - - -
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 2025 Q1
Net sales 1 201,890 199,342 - 199,056 189,823 176,488 144,754 156,690 187,355 183,090 168,461 172,058 193,678 191,432 178,209
EBITDA - - - - - 3,413 2,213 2,739 3,243 - - - - - -
EBIT 1 3,900 - - 3,642 3,558 3,146 1,941 2,466 2,964 3,023 2,814 2,798 3,388 3,028 3,069
Operating Margin 1.93% - - 1.83% 1.87% 1.78% 1.34% 1.57% 1.58% 1.65% 1.67% 1.63% 1.75% 1.58% 1.72%
Earnings before Tax (EBT) 1 3,872 - - 3,596 3,265 1,677 866.2 3,601 1,898 3,917 1,211 1,484 2,394 1,643 1,669
Net income 1 3,185 2,705 - 2,897 2,762 1,410 684.9 2,317 1,592 3,515 980 1,185 2,009 1,333 1,342
Net margin 1.58% 1.36% - 1.46% 1.45% 0.8% 0.47% 1.48% 0.85% 1.92% 0.58% 0.69% 1.04% 0.7% 0.75%
EPS 2 1.900 1.610 2.050 1.490 1.640 0.8400 0.4100 1.140 0.9500 2.090 0.6750 1.000 1.550 1.375 1.290
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 11/12/21 3/1/22 5/11/22 8/11/22 11/10/22 3/1/23 5/12/23 8/11/23 11/13/23 2/29/24 - - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 72,859 73,054 108,120 - 100,450 63,668 77,302 85,749
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 7.1 x 6.715 x 7.317 x - 8.72 x 4.314 x 4.578 x 4.185 x
Free Cash Flow 1 - 11,787 - - - -2,821 - -
ROE (net income / shareholders' equity) 11% 12.6% 16.9% - 9.8% 9.31% 10.4% 15.2%
ROA (Net income/ Total Assets) 3.03% 3.5% - - 2.57% 1.64% 1.81% -
Assets 1 213,202 232,162 - - 315,312 335,854 377,735 -
Book Value Per Share 2 37.80 39.00 41.90 - 43.90 53.90 58.10 63.10
Cash Flow per Share 2 - - - - - -3.090 - -
Capex 1 355 6,038 - - 643 120 121 -
Capex / Sales 0.07% 0.99% - - 0.1% 0.02% 0.01% -
Announcement Date 3/18/20 3/30/21 3/1/22 3/1/23 2/29/24 - - -
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
HOLD
Number of Analysts
4
Last Close Price
86.6 TWD
Average target price
73.98 TWD
Spread / Average Target
-14.58%
Consensus
  1. Stock Market
  2. Equities
  3. 3702 Stock
  4. Financials WPG Holdings Limited