Company Valuation: All Ring Tech Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,898 11,499 38,242 35,021 1,27,061 - -
Change - 134.79% 232.56% -8.42% 262.82% - -
Enterprise Value (EV) 1 4,898 11,499 34,996 31,178 1,22,628 1,21,917 1,20,978
Change - 134.79% 204.33% -10.91% 293.32% -0.58% -0.77%
P/E 10.4x 84.9x 27.9x 23.7x 44.3x 31.5x 21.2x
PBR - - 5.98x 4.8x 12.9x 10.6x 8.46x
PEG - -1.2x 0x 3.56x 0.5x 0.8x 0.4x
Capitalization / Revenue - 9.54x 6.91x 6.53x 13.6x 8.93x 6.71x
EV / Revenue - 9.54x 6.32x 5.81x 13.1x 8.56x 6.39x
EV / EBITDA - 89.4x 23.6x 18.6x 38.5x 24x 17.2x
EV / EBIT - 135x 24.5x 19.4x 39.6x 24.5x 17.6x
EV / FCF - - 49.7x 20.9x 49.9x 36.6x -
FCF Yield - - 2.01% 4.78% 2% 2.73% -
Dividend per Share 2 - - 10.2 11.79 19.9 27.38 37.96
Rate of return - - 2.54% 3.24% 1.52% 2.1% 2.91%
EPS 2 5.86 1.66 14.42 15.38 29.48 41.37 61.6
Distribution rate - - 70.7% 76.6% 67.5% 66.2% 61.6%
Net sales 1 - 1,205 5,535 5,366 9,359 14,236 18,942
EBITDA 1 - 128.7 1,483 1,679 3,187 5,082 7,051
EBIT 1 - 85.42 1,427 1,611 3,099 4,983 6,876
Net income 1 499 138.2 1,311 1,485 2,893 4,319 5,968
Net Debt 1 - - -3,247 -3,843 -4,433 -5,144 -6,083
Reference price 2 60.80 141.00 402.00 364.00 1,305.00 1,305.00 1,305.00
Nbr of stocks (in thousands) 80,556 81,556 95,130 96,211 97,365 - -
Announcement Date 13/03/23 26/03/24 27/02/25 10/02/26 - - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
44.09x13.05x38.33x1.53% 398.92Cr
33.05x10.03x29x0.45% 35TCr
63.89x9.37x49.63x0.14% 7.08TCr
64x18.77x82.28x0.13% 4.86TCr
33.56x8.8x22.85x0.52% 4.42TCr
31.09x9.82x20.62x1.28% 3.77TCr
69.94x21.07x80.1x0.14% 2.76TCr
34.24x3.19x9.71x0.45% 2.44TCr
77.78x15.18x73.48x0.32% 2.02TCr
74.49x19.79x70.26x0.18% 1.84TCr
Average 52.61x 12.91x 47.62x 0.52% 6.42TCr
Weighted average by Cap. 43.02x 11.20x 38.50x 0.43%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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