Company Valuation: Delta Electronics, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,14,324 7,44,196 8,14,330 11,18,242 25,01,434 45,45,701 - -
Change - 4.18% 9.42% 37.32% 123.69% 81.72% - -
Enterprise Value (EV) 1 7,11,695 7,29,063 7,84,169 10,61,228 24,24,290 44,49,006 44,00,094 43,13,120
Change - 2.44% 7.56% 35.33% 128.44% 83.52% -1.1% -1.98%
P/E 26.8x 22.9x 24.4x 31.7x 41.7x 42.6x 27.2x 18.8x
PBR 4.61x 3.98x 4.09x 4.86x 9.33x 13x 9.86x 7.3x
PEG - 1x 8.98x 5.82x 0.6x 0.5x 0.5x 0.4x
Capitalization / Revenue 2.27x 1.94x 2.03x 2.66x 4.51x 5.84x 4.15x 3x
EV / Revenue 2.26x 1.9x 1.95x 2.52x 4.37x 5.72x 4.02x 2.85x
EV / EBITDA 14.7x 12.1x 12.5x 14.6x 21.7x 25.5x 16.4x 10.9x
EV / EBIT 22.7x 17.6x 19.1x 22.3x 28.9x 31.4x 19.2x 12.2x
EV / FCF 134x 29.5x 18.1x 26.9x 46.2x 155x 65.4x 27.2x
FCF Yield 0.74% 3.39% 5.52% 3.72% 2.17% 0.65% 1.53% 3.68%
Dividend per Share 2 5.5 9.84 6.43 7 11.6 17.48 30.14 45.47
Rate of return 2% 3.43% 2.05% 1.63% 1.2% 1% 1.72% 2.6%
EPS 2 10.27 12.52 12.86 13.56 23.08 41.08 64.37 92.99
Distribution rate 53.6% 78.6% 50% 51.6% 50.3% 42.5% 46.8% 48.9%
Net sales 1 3,14,671 3,84,443 4,01,227 4,21,148 5,54,885 7,78,367 10,94,734 15,14,159
EBITDA 1 48,516 60,375 62,540 72,668 1,11,771 1,74,525 2,67,803 3,96,911
EBIT 1 31,365 41,439 40,950 47,652 83,932 1,41,608 2,28,804 3,52,831
Net income 1 26,796 32,666 33,393 35,229 60,108 1,06,834 1,68,558 2,39,516
Net Debt 1 -2,630 -15,133 -30,161 -57,015 -77,144 -96,695 -1,45,606 -2,32,580
Reference price 2 275.00 286.50 313.50 430.50 963.00 1,750.00 1,750.00 1,750.00
Nbr of stocks (in thousands) 25,97,543 25,97,543 25,97,543 25,97,543 25,97,543 25,97,543 - -
Announcement Date 25/02/22 23/02/23 01/03/24 26/02/25 26/02/26 - - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
42.6x5.72x25.49x1% 14TCr
18.28x2.4x10.79x2.8% 26TCr
26.78x3.14x17.07x1.95% 26TCr
31.61x4.05x18.67x1.55% 20TCr
37.83x5.52x23.58x1.02% 16TCr
43.67x7.18x28.94x0.1% 10TCr
87.67x11.18x62.2x0.36% 9.42TCr
32.39x5.23x18.16x1.4% 8.83TCr
33.38x6.94x21.79x0.56% 5.62TCr
29.9x5.33x19.52x1.3% 5.51TCr
Average 38.41x 5.67x 24.62x 1.2% 14.19TCr
Weighted average by Cap. 34.71x 4.85x 21.91x 1.5%

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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