Financials MiCo Ltd.

Equities

A059090

KR7059090001

Semiconductor Equipment & Testing

End-of-day quote Korea S.E. Other stock markets 03:30:00 13/05/2024 am IST			5-day change	1st Jan Change
12,780 ^KRW	+1.19%		+23.12%	+40.75%

02/05	ETF of the week: Mexico's future looks golden
21/03	MiCo 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	1,44,102	1,77,664	4,60,962	4,61,126	2,30,866	2,85,985
Enterprise Value (EV) ¹	1,62,452	2,36,290	4,89,210	4,80,516	2,82,673	4,12,608
P/E ratio	10.4 x	22.3 x	39.8 x	-40.6 x	-4.2 x	-10.5 x
Yield	0.85%	0.69%	-	0.48%	-	-
Capitalization / Revenue	0.63 x	0.75 x	1.64 x	1.26 x	0.56 x	0.74 x
EV / Revenue	0.71 x	1 x	1.74 x	1.31 x	0.68 x	1.07 x
EV / EBITDA	2.82 x	4.09 x	7.06 x	4.95 x	2.7 x	5.97 x
EV / FCF	-3.54 x	-7.56 x	76.5 x	-10.4 x	-72.1 x	-16.1 x
FCF Yield	-28.3%	-13.2%	1.31%	-9.6%	-1.39%	-6.2%
Price to Book	1.69 x	1.92 x	4.07 x	2.33 x	1.63 x	3.77 x
Nbr of stocks (in thousands)	30,791	30,791	30,527	31,912	31,496	31,496
Reference price ²	4,680	5,770	15,100	14,450	7,330	9,080
Announcement Date	20/03/19	19/03/20	22/03/21	22/03/22	31/03/23	21/03/24

¹KRW in Million²KRW

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net sales ¹	2,27,422	2,36,170	2,80,899	3,65,491	4,14,832	3,87,341
EBITDA ¹	57,537	57,842	69,306	96,983	1,04,632	69,125
EBIT ¹	45,313	38,181	43,256	67,599	63,970	21,202
Operating Margin	19.92%	16.17%	15.4%	18.5%	15.42%	5.47%
Earnings before Tax (EBT) ¹	39,440	28,736	37,838	62,035	-20,266	10,988
Net income ¹	13,903	7,961	11,613	-10,987	-55,231	-27,256
Net margin	6.11%	3.37%	4.13%	-3.01%	-13.31%	-7.04%
EPS ²	451.5	258.5	379.0	-356.1	-1,743	-865.4
Free Cash Flow ¹	-45,933	-31,275	6,392	-46,110	-3,919	-25,591
FCF margin	-20.2%	-13.24%	2.28%	-12.62%	-0.94%	-6.61%
FCF Conversion (EBITDA)	-	-	9.22%	-	-	-
FCF Conversion (Net income)	-	-	55.04%	-	-	-
Dividend per Share ²	40.00	40.00	-	70.00	-	-
Announcement Date	20/03/19	19/03/20	22/03/21	22/03/22	31/03/23	21/03/24

¹KRW in Million²KRW

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023
Net Debt ¹	18,350	58,626	28,248	19,390	51,807	1,26,623
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.3189 x	1.014 x	0.4076 x	0.1999 x	0.4951 x	1.832 x
Free Cash Flow ¹	-45,933	-31,275	6,392	-46,110	-3,919	-25,591
ROE (net income / shareholders' equity)	24.4%	13.9%	13.2%	7.1%	-8.34%	-0.55%
ROA (Net income/ Total Assets)	10.6%	6.48%	5.85%	6.81%	5.52%	1.69%
Assets ¹	1,31,111	1,22,940	1,98,454	-1,61,285	-10,01,145	-16,09,623
Book Value Per Share ²	2,766	3,005	3,707	6,192	4,503	2,410
Cash Flow per Share ²	3,173	2,759	4,964	5,657	4,190	5,414
Capex ¹	71,080	64,695	49,361	1,21,665	51,723	47,638
Capex / Sales	31.25%	27.39%	17.57%	33.29%	12.47%	12.3%
Announcement Date	20/03/19	19/03/20	22/03/21	22/03/22	31/03/23	21/03/24

¹KRW in Million²KRW

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Chiffre d''affaires - Rate of surprise

Company calendar

Sector Other Semiconductor Equipment & Testing

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AMKOR TECHNOLOGY, INC.	-1.74%	8.05B
ZHEJIANG JINGSHENG MECHANICAL & ELECTRICAL CO., LTD.	-26.26%	5.88B

Other Semiconductor Equipment & Testing

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