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 91,127 - -
Change - 134.79% 232.56% -8.42% 160.21% - -
Enterprise Value (EV) 1 4,898 11,499 34,996 31,178 87,243 85,829 84,994
Change - 134.79% 204.33% -10.91% 179.82% -1.62% -0.97%
P/E 10.4x 84.9x 27.9x 23.7x 37.1x 23.9x 21x
PBR - - 5.98x 4.8x 11.1x 8.35x 6.68x
PEG - -1.2x 0x 3.56x 0.6x 0.4x 1.5x
Capitalization / Revenue - 9.54x 6.91x 6.53x 9.89x 6.49x 5.38x
EV / Revenue - 9.54x 6.32x 5.81x 9.47x 6.11x 5.02x
EV / EBITDA - 89.4x 23.6x 18.6x 29.6x 17.3x 13.9x
EV / EBIT - 135x 24.5x 19.4x 30.5x 17.6x 14.2x
EV / FCF - - 49.7x 20.9x 34.2x 20.2x -
FCF Yield - - 2.01% 4.78% 2.92% 4.96% -
Dividend per Share 2 - - 10.2 11.79 17.39 26.48 32.05
Rate of return - - 2.54% 3.24% 1.85% 2.81% 3.4%
EPS 2 5.86 1.66 14.42 15.38 25.38 39.44 44.89
Distribution rate - - 70.7% 76.6% 68.5% 67.1% 71.4%
Net sales 1 - 1,205 5,535 5,366 9,213 14,051 16,924
EBITDA 1 - 128.7 1,483 1,679 2,944 4,960 6,100
EBIT 1 - 85.42 1,427 1,611 2,860 4,863 5,979
Net income 1 499 138.2 1,311 1,485 2,457 4,120 4,322
Net Debt 1 - - -3,247 -3,843 -3,884 -5,298 -6,133
Reference price 2 60.80 141.00 402.00 364.00 942.00 942.00 942.00
Nbr of stocks (in thousands) 80,556 81,556 95,130 96,211 96,738 - -
Announcement Date 13/03/23 26/03/24 27/02/25 10/02/26 - - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
37.12x9.47x29.63x1.85% 281.69Cr
40.85x12.64x36.84x0.36% 43TCr
71.58x10.76x54.88x0.13% 8.11TCr
102.51x21.57x100.42x0.09% 5.5TCr
38.71x10.1x26.36x0.46% 4.78TCr
35.48x11.39x23.73x1.16% 4.03TCr
114.15x26.78x115.66x0.11% 3.38TCr
39.7x3.82x11.22x0.07% 2.94TCr
80.18x15.78x70.9x0.26% 2.14TCr
53.61x18.39x40.49x1.53% 2.09TCr
Average 61.39x 14.07x 51.01x 0.6% 7.58TCr
Weighted average by Cap. 52.86x 13.38x 45.58x 0.38%

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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