CTCI CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 48.15 TWD | -0.82% |
|
-7.05% | +14.23% |
| 07/03 | CTCI Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| 06/03 | CTCI Corporation Resolves Cash Dividend for the Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 29,035 | 29,112 | 28,369 | 33,000 | 33,776 | 38,628 | - |
| Enterprise Value (EV) 1 | 26,161 | 35,202 | 23,809 | 31,996 | 33,776 | 30,724 | 33,263 |
| P/E ratio | 24.7 x | 38.2 x | 17.3 x | 13.8 x | 17.6 x | 15.5 x | 12.9 x |
| Yield | 5.25% | 5.24% | 6.18% | 4.56% | - | 4.59% | 6.14% |
| Capitalization / Revenue | 0.5 x | 0.52 x | 0.4 x | 0.35 x | 0.33 x | 0.31 x | 0.31 x |
| EV / Revenue | 0.45 x | 0.63 x | 0.34 x | 0.34 x | 0.33 x | 0.25 x | 0.27 x |
| EV / EBITDA | 8.51 x | 11.4 x | 7.16 x | 6.8 x | 7.51 x | 5.55 x | 5.48 x |
| EV / FCF | 4.98 x | -6.09 x | 2.05 x | -22.5 x | - | 22.8 x | 11.7 x |
| FCF Yield | 20.1% | -16.4% | 48.7% | -4.44% | - | 4.38% | 8.58% |
| Price to Book | 1.8 x | 1.84 x | 1.71 x | 1.9 x | - | 1.8 x | 2.07 x |
| Nbr of stocks (in thousands) | 7,62,061 | 7,62,094 | 7,62,602 | 7,88,519 | 8,01,324 | 8,02,249 | - |
| Reference price 2 | 38.10 | 38.20 | 37.20 | 41.85 | 42.15 | 48.15 | 48.15 |
| Announcement Date | 11/03/20 | 08/03/21 | 09/03/22 | 08/03/23 | 07/03/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 58,211 | 55,558 | 70,540 | 95,101 | 1,03,527 | 1,24,409 | 1,22,738 |
| EBITDA 1 | 3,074 | 3,086 | 3,324 | 4,707 | 4,496 | 5,532 | 6,064 |
| EBIT 1 | 2,168 | 2,057 | 2,175 | 3,545 | 3,279 | 4,434 | 5,078 |
| Operating Margin | 3.72% | 3.7% | 3.08% | 3.73% | 3.17% | 3.56% | 4.14% |
| Earnings before Tax (EBT) 1 | 2,230 | 1,764 | 3,034 | 3,967 | 3,502 | 4,794 | 5,442 |
| Net income 1 | 1,177 | 766.5 | 1,642 | 2,379 | 1,891 | 2,477 | 2,988 |
| Net margin | 2.02% | 1.38% | 2.33% | 2.5% | 1.83% | 1.99% | 2.43% |
| EPS 2 | 1.540 | 1.000 | 2.150 | 3.030 | 2.390 | 3.100 | 3.735 |
| Free Cash Flow 1 | 5,254 | -5,778 | 11,603 | -1,419 | - | 1,345 | 2,852 |
| FCF margin | 9.03% | -10.4% | 16.45% | -1.49% | - | 1.08% | 2.32% |
| FCF Conversion (EBITDA) | 170.92% | - | 349.02% | - | - | 24.31% | 47.04% |
| FCF Conversion (Net income) | 446.38% | - | 706.57% | - | - | 54.3% | 95.45% |
| Dividend per Share 2 | 2.000 | 2.000 | 2.300 | 1.910 | - | 2.210 | 2.955 |
| Announcement Date | 11/03/20 | 08/03/21 | 09/03/22 | 08/03/23 | 07/03/24 | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 16,790 | 23,111 | 22,432 | 22,372 | 24,407 | 25,890 | 21,846 | 23,846 | 27,966 | 29,870 | 29,272 | 26,881 | 29,831 | 30,998 |
| EBITDA 1 | 977.8 | 1,089 | 1,166 | 1,399 | - | 1,075 | 1,080 | 1,051 | 1,336 | 1,028 | 1,247 | 1,196 | 1,314 | 1,392 |
| EBIT 1 | 670 | 782.1 | 880.1 | 1,115 | 783.1 | 766.6 | 788.7 | 750.6 | 1,030 | 709.5 | 929.2 | 955.7 | 1,126 | 1,227 |
| Operating Margin | 3.99% | 3.38% | 3.92% | 4.98% | 3.21% | 2.96% | 3.61% | 3.15% | 3.68% | 2.38% | 3.17% | 3.56% | 3.77% | 3.96% |
| Earnings before Tax (EBT) 1 | 830.2 | 1,062 | 1,233 | 896.6 | 900.6 | 937.4 | 863.6 | 747.9 | 1,035 | 855.5 | 975.5 | 1,059 | 1,231 | 1,312 |
| Net income 1 | 488.4 | 599.6 | 1,148 | 434.2 | 346.9 | 450.6 | 366.1 | 483.4 | 444.7 | 597 | 463.8 | 562 | 677 | 749.7 |
| Net margin | 2.91% | 2.59% | 5.12% | 1.94% | 1.42% | 1.74% | 1.68% | 2.03% | 1.59% | 2% | 1.58% | 2.09% | 2.27% | 2.42% |
| EPS 2 | 0.6400 | 0.7800 | 1.480 | 0.5500 | 0.4400 | 0.5700 | 0.4700 | 0.6000 | 0.5600 | 0.7500 | 0.5800 | 0.7150 | 0.8000 | 0.9350 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 03/11/21 | 09/03/22 | 04/05/22 | 04/08/22 | 03/11/22 | 08/03/23 | 08/05/23 | 04/08/23 | 01/11/23 | 07/03/24 | 05/05/24 | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 6,090 | - | - | - | - | - |
| Net Cash position 1 | 2,874 | - | 4,560 | 1,004 | - | 7,904 | 5,365 |
| Leverage (Debt/EBITDA) | - | 1.973 x | - | - | - | - | - |
| Free Cash Flow 1 | 5,254 | -5,778 | 11,603 | -1,419 | - | 1,345 | 2,853 |
| ROE (net income / shareholders' equity) | 7% | 4.79% | 10.1% | 14% | - | 14.5% | 16.1% |
| ROA (Net income/ Total Assets) | 1.61% | 1.09% | 2.08% | 2.63% | - | 3% | 2.95% |
| Assets 1 | 72,997 | 70,139 | 79,107 | 90,492 | - | 82,567 | 1,01,305 |
| Book Value Per Share 2 | 21.10 | 20.70 | 21.70 | 22.10 | - | 26.70 | 23.30 |
| Cash Flow per Share 2 | 11.60 | -3.670 | 19.10 | 0.1000 | - | 0.6000 | 1.460 |
| Capex 1 | 3,638 | 2,968 | 2,961 | 1,502 | - | 2,112 | 2,529 |
| Capex / Sales | 6.25% | 5.34% | 4.2% | 1.58% | - | 1.7% | 2.06% |
| Announcement Date | 11/03/20 | 08/03/21 | 09/03/22 | 08/03/23 | 07/03/24 | - | - |
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
A-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
3
Last Close Price
48.15
TWD
Average target price
52
TWD
Spread / Average Target
+8.00%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +14.23% | 1.2B | |
| -1.06% | 68.42B | |
| -2.67% | 57B | |
| +24.86% | 39.45B | |
| +12.47% | 31.3B | |
| +7.57% | 27.66B | |
| +16.37% | 21.04B | |
| +74.78% | 17.48B | |
| +25.86% | 17.36B | |
| +13.67% | 15.21B |
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