ACES ELECTRONICS CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 39.75 TWD | +1.15% |
|
-1.97% | +23.26% |
| 12/03 | ACES Electronics Co., Ltd. Omits to Pay Dividends for the Year Ended December 31, 2023 | CI |
| 12/03 | ACES Electronics Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 2,819 | 3,794 | 5,171 | 6,365 | 4,288 | 4,335 |
| Enterprise Value (EV) 1 | 2,564 | 4,276 | 5,891 | 7,154 | 5,756 | 6,416 |
| P/E ratio | 12 x | 12.3 x | 18.9 x | 13.8 x | 19.5 x | -16.3 x |
| Yield | 3.06% | 2.42% | 1.66% | 2.88% | 1.72% | - |
| Capitalization / Revenue | 0.42 x | 0.52 x | 0.64 x | 0.6 x | 0.41 x | 0.51 x |
| EV / Revenue | 0.38 x | 0.58 x | 0.73 x | 0.68 x | 0.55 x | 0.76 x |
| EV / EBITDA | 4.7 x | 6.5 x | 7.99 x | 7.11 x | 8.88 x | 23.6 x |
| EV / FCF | -12.3 x | -36.2 x | 16 x | -11.6 x | -11.1 x | -12.9 x |
| FCF Yield | -8.15% | -2.76% | 6.23% | -8.58% | -9.01% | -7.77% |
| Price to Book | 0.67 x | 0.89 x | 1.15 x | 1.27 x | 0.76 x | 0.82 x |
| Nbr of stocks (in thousands) | 1,23,356 | 1,22,396 | 1,22,396 | 1,22,396 | 1,34,418 | 1,34,418 |
| Reference price 2 | 22.85 | 31.00 | 42.25 | 52.00 | 31.90 | 32.25 |
| Announcement Date | 28/03/19 | 26/03/20 | 30/03/21 | 31/03/22 | 27/03/23 | 12/03/24 |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 6,711 | 7,312 | 8,063 | 10,576 | 10,393 | 8,486 |
| EBITDA 1 | 545.5 | 657.7 | 737.1 | 1,006 | 648.5 | 272.4 |
| EBIT 1 | 135.3 | 268.5 | 348.5 | 514 | 56.75 | -330.7 |
| Operating Margin | 2.02% | 3.67% | 4.32% | 4.86% | 0.55% | -3.9% |
| Earnings before Tax (EBT) 1 | 252.4 | 356 | 323.4 | 588.9 | 315.1 | -269.7 |
| Net income 1 | 234.8 | 311.5 | 276.4 | 510.9 | 225.3 | -266.5 |
| Net margin | 3.5% | 4.26% | 3.43% | 4.83% | 2.17% | -3.14% |
| EPS 2 | 1.910 | 2.520 | 2.240 | 3.776 | 1.639 | -1.983 |
| Free Cash Flow 1 | -208.8 | -118.2 | 367.1 | -614.1 | -518.4 | -498.7 |
| FCF margin | -3.11% | -1.62% | 4.55% | -5.81% | -4.99% | -5.88% |
| FCF Conversion (EBITDA) | - | - | 49.81% | - | - | - |
| FCF Conversion (Net income) | - | - | 132.83% | - | - | - |
| Dividend per Share 2 | 0.7000 | 0.7500 | 0.7000 | 1.500 | 0.5500 | - |
| Announcement Date | 28/03/19 | 26/03/20 | 30/03/21 | 31/03/22 | 27/03/23 | 12/03/24 |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2022 Q1 | 2022 Q2 |
|---|---|---|---|
| Net sales 1 | - | 2,817 | 2,623 |
| EBITDA | - | - | - |
| EBIT 1 | - | 133.4 | 35.99 |
| Operating Margin | - | 4.74% | 1.37% |
| Earnings before Tax (EBT) | - | - | - |
| Net income | 129.7 | - | - |
| Net margin | - | - | - |
| EPS | 1.050 | - | - |
| Dividend per Share | - | - | - |
| Announcement Date | 12/11/21 | 13/05/22 | 10/08/22 |
1TWD in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | 482 | 719 | 789 | 1,468 | 2,081 |
| Net Cash position 1 | 255 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.7332 x | 0.976 x | 0.7847 x | 2.264 x | 7.64 x |
| Free Cash Flow 1 | -209 | -118 | 367 | -614 | -518 | -499 |
| ROE (net income / shareholders' equity) | 5.22% | 7.04% | 5.84% | 10.1% | 3.99% | -4.92% |
| ROA (Net income/ Total Assets) | 1.02% | 1.88% | 2.22% | 2.77% | 0.28% | -1.65% |
| Assets 1 | 23,022 | 16,583 | 12,447 | 18,421 | 81,697 | 16,178 |
| Book Value Per Share 2 | 34.10 | 34.60 | 36.70 | 41.00 | 41.90 | 39.10 |
| Cash Flow per Share 2 | 17.70 | 12.50 | 14.50 | 19.60 | 18.00 | 15.30 |
| Capex 1 | 327 | 671 | 569 | 1,015 | 1,116 | 887 |
| Capex / Sales | 4.87% | 9.18% | 7.06% | 9.59% | 10.74% | 10.46% |
| Announcement Date | 28/03/19 | 26/03/20 | 30/03/21 | 31/03/22 | 27/03/23 | 12/03/24 |
1TWD in Million2TWD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Chiffre d''affaires - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +23.26% | 163M | |
| +28.73% | 76.04B | |
| -6.97% | 34.28B | |
| -13.44% | 29.4B | |
| -7.43% | 14.17B | |
| -5.41% | 10.37B | |
| +9.85% | 9.85B | |
| +8.54% | 8.57B | |
| -12.57% | 8.45B | |
| +25.25% | 8.34B |
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