Company Valuation: Primax Electronics Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 25,813 25,435 31,343 35,397 36,186 31,333 -
Change - -1.47% 23.23% 12.93% 2.23% -13.41% -
Enterprise Value (EV) 1 24,466 20,104 21,903 24,143 28,018 22,500 21,775
Change - -17.83% 8.95% 10.23% 16.05% -19.7% -3.22%
P/E 11.1x 9.22x 12.3x 13.5x 13.5x 10.7x 10.1x
PBR 1.82x 1.56x 1.84x 1.78x 1.75x 1.39x 1.46x
PEG - 0.5x -1.42x 6.75x 7.57x 1.17x 1.68x
Capitalization / Revenue 0.36x 0.32x 0.52x 0.61x 0.6x 0.48x 0.45x
EV / Revenue 0.34x 0.25x 0.36x 0.41x 0.47x 0.34x 0.31x
EV / EBITDA 5.15x 3.84x 4.7x 5.54x 6.6x 5.27x 4.34x
EV / EBIT 8.7x 6.01x 7.99x 8.84x 9.86x 6.99x 6.66x
EV / FCF -17.8x 4.72x 3.56x 5.68x 32.3x 8.72x 6.81x
FCF Yield -5.6% 21.2% 28.1% 17.6% 3.1% 11.5% 14.7%
Dividend per Share 2 3.1 3.9 4 4.2 4.568 4.33 5.22
Rate of return 5.47% 7.03% 5.91% 5.53% 5.95% 6.52% 7.86%
EPS 2 5.09 6.02 5.5 5.61 5.71 6.23 6.605
Distribution rate 60.9% 64.8% 72.7% 74.9% 80% 69.5% 79%
Net sales 1 71,650 79,241 60,488 58,244 60,182 65,241 70,093
EBITDA 1 4,754 5,232 4,656 4,354 4,245 4,268 5,013
EBIT 1 2,813 3,345 2,743 2,731 2,842 3,218 3,268
Net income 1 2,298 2,743 2,485 2,557 2,627 2,934 3,044
Net Debt 1 -1,347 -5,332 -9,440 -11,254 -8,168 -8,833 -9,558
Reference price 2 56.70 55.50 67.70 76.00 76.80 66.40 66.40
Nbr of stocks (in thousands) 4,55,263 4,58,289 4,62,974 4,65,745 4,71,175 4,71,881 -
Announcement Date 25/02/22 24/02/23 26/02/24 17/02/25 26/02/26 - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.66x0.34x5.27x6.52% 98Cr
15.43x0.65x5.89x2.78% 557.69Cr
26.2x4.59x18.39x1.63% 511.72Cr
11.74x0.61x3.87x6.76% 243.63Cr
13.24x - - 4.56% 62Cr
Average 15.45x 1.55x 8.36x 4.45% 294.57Cr
Weighted average by Cap. 18.15x 2.05x 10.03x 3.36%

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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