Company Valuation: Sai MicroElectronics Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 15,224 17,928 10,838 17,633 12,579 40,975
Change - 17.76% -39.55% 62.7% -28.66% 225.73%
Enterprise Value (EV) 1 14,838 15,618 9,959 17,736 12,950 40,110
Change - 5.26% -36.24% 78.09% -26.98% 209.72%
P/E 76.8x 79.2x -148x 172x -74x 27.8x
PBR 4.94x 3.53x 2.18x 3.42x 2.55x 6.08x
PEG - - 1x -1x 0x -0x
Capitalization / Revenue 19.9x 19.3x 13.8x 13.6x 10.4x 49.7x
EV / Revenue 19.4x 16.8x 12.7x 13.6x 10.7x 48.7x
EV / EBITDA 188x 310x -35.6x 1,632x -179x -64.9x
EV / EBIT 2,572x -366x -27x -147x -51.8x -50x
EV / FCF -53.7x -122x -5.98x -17.2x -46.1x 139x
FCF Yield -1.86% -0.82% -16.7% -5.8% -2.17% 0.72%
Dividend per Share 2 0.035 0.035 - 0.035 - 0.37
Rate of return 0.15% 0.14% - 0.15% - 0.66%
EPS 2 0.31 0.31 -0.1 0.14 -0.2322 2.012
Distribution rate 11.3% 11.3% - 25% - 18.4%
Net sales 1 765 928.5 785.8 1,300 1,205 824.1
EBITDA 1 78.84 50.42 -279.9 10.87 -72.34 -618.1
EBIT 1 5.768 -42.65 -369.1 -120.9 -249.9 -802.7
Net income 1 201.1 205.7 -73.36 103.6 -170 1,473
Net Debt 1 -386.2 -2,310 -879 102.7 371.1 -864.7
Reference price 2 23.82 24.56 14.78 24.04 17.18 55.96
Nbr of stocks (in thousands) 6,39,122 7,29,979 7,33,289 7,33,497 7,32,213 7,32,213
Announcement Date 16/03/21 30/03/22 28/03/23 26/03/24 19/03/25 26/03/26
1CNY in Million2CNY
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 417.28Cr
64.32x10.34x52x1.27% 22TCr
51x8.78x15.59x-.--% 9.75TCr
46.78x9.98x34.76x1.18% 6.13TCr
45.77x - - 0.21% 4.85TCr
44.63x7.81x28.13x1.07% 4.68TCr
1380.99x67.85x1484.08x - 3.76TCr
40.2x7x27.96x1% 3.37TCr
30.28x7.18x23.55x0.72% 3.2TCr
25.19x6.6x19.98x1.69% 3.13TCr
Average 192.13x 15.69x 210.76x 0.89% 6.16TCr
Weighted average by Cap. 133.35x 13.08x 132.69x 0.91%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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