SERCOMM CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 116 TWD | +0.87% |
|
0.00% | -13.75% |
| 07/05 | Sercomm Corporation Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| 06/03 | Sercomm Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 19,087 | 19,638 | 19,106 | 19,746 | 36,124 | 34,328 | - |
| Enterprise Value (EV) 1 | 15,577 | 18,026 | 21,710 | 19,746 | 34,029 | 33,201 | 34,328 |
| P/E ratio | 18.9 x | 21.9 x | 22.9 x | 10.6 x | 14.7 x | 13.2 x | 12 x |
| Yield | 3.86% | 3.33% | 3.17% | - | 3.72% | 5.17% | 8.12% |
| Capitalization / Revenue | 0.6 x | 0.54 x | 0.44 x | 0.31 x | 0.58 x | 0.53 x | 0.44 x |
| EV / Revenue | 0.49 x | 0.5 x | 0.49 x | 0.31 x | 0.54 x | 0.51 x | 0.44 x |
| EV / EBITDA | 9.5 x | 9.78 x | 11.5 x | 5.96 x | 8.43 x | 6.68 x | 10 x |
| EV / FCF | 17.2 x | -67.8 x | -5.92 x | - | 59.8 x | 18 x | 12.7 x |
| FCF Yield | 5.81% | -1.47% | -16.9% | - | 1.67% | 5.56% | 7.87% |
| Price to Book | 2.52 x | 2.53 x | 2.32 x | - | 2.65 x | 2.24 x | 1.74 x |
| Nbr of stocks (in thousands) | 2,45,654 | 2,51,775 | 2,52,390 | 2,58,796 | 2,68,578 | 2,95,931 | - |
| Reference price 2 | 77.70 | 78.00 | 75.70 | 76.30 | 134.5 | 116.0 | 116.0 |
| Announcement Date | 17/03/20 | 24/03/21 | 10/03/22 | 10/03/23 | 05/03/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 31,797 | 36,096 | 43,900 | 64,574 | 62,584 | 65,203 | 77,968 |
| EBITDA 1 | 1,640 | 1,844 | 1,886 | 3,312 | 4,036 | 4,970 | 3,416 |
| EBIT 1 | 986.9 | 1,135 | 1,053 | 2,418 | 3,114 | 3,272 | 4,236 |
| Operating Margin | 3.1% | 3.14% | 2.4% | 3.74% | 4.97% | 5.02% | 5.43% |
| Earnings before Tax (EBT) 1 | 1,278 | 1,109 | 1,026 | 2,309 | 2,988 | 3,241 | 3,765 |
| Net income 1 | 1,033 | 907.3 | 861.2 | 1,919 | 2,386 | 2,632 | 3,049 |
| Net margin | 3.25% | 2.51% | 1.96% | 2.97% | 3.81% | 4.04% | 3.91% |
| EPS 2 | 4.110 | 3.560 | 3.300 | 7.220 | 9.170 | 8.797 | 9.630 |
| Free Cash Flow 1 | 905 | -265.9 | -3,665 | - | 569.3 | 1,846 | 2,702 |
| FCF margin | 2.85% | -0.74% | -8.35% | - | 0.91% | 2.83% | 3.47% |
| FCF Conversion (EBITDA) | 55.17% | - | - | - | 14.11% | 37.14% | 79.1% |
| FCF Conversion (Net income) | 87.62% | - | - | - | 23.86% | 70.15% | 88.62% |
| Dividend per Share 2 | 3.000 | 2.600 | 2.400 | - | 5.000 | 6.000 | 9.420 |
| Announcement Date | 17/03/20 | 24/03/21 | 10/03/22 | 10/03/23 | 05/03/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 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 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 13,198 | 12,674 | 15,216 | 18,277 | 18,407 | 15,659 | 15,666 | 15,625 | 15,634 | 16,193 | 15,156 | 16,377 | 17,477 | 15,736 | 17,653 |
| EBITDA 1 | 667.4 | 592.4 | - | 914.9 | 1,014 | 879.6 | - | 1,087 | 1,128 | 1,092 | 1,163 | 1,222 | 1,340 | - | - |
| EBIT 1 | 450.4 | 375.5 | 564.6 | 687.8 | 789.7 | 654.5 | 712.5 | 857.6 | 888.9 | 856.7 | 707 | 786.7 | 922 | 749 | 872 |
| Operating Margin | 3.41% | 2.96% | 3.71% | 3.76% | 4.29% | 4.18% | 4.55% | 5.49% | 5.69% | 5.29% | 4.66% | 4.8% | 5.28% | 4.76% | 4.94% |
| Earnings before Tax (EBT) 1 | 437.1 | 381.1 | 547.4 | 638.1 | 742.7 | 610.8 | 674.1 | 807.9 | 895.2 | 831.9 | 697.3 | 779 | 915 | 720 | 842 |
| Net income 1 | 373.6 | 326.4 | 452.3 | 527.7 | 613 | 505.8 | 526.6 | 655.8 | 698.1 | 674.2 | 568.7 | 635.3 | 745.3 | 583 | 682 |
| Net margin | 2.83% | 2.58% | 2.97% | 2.89% | 3.33% | 3.23% | 3.36% | 4.2% | 4.47% | 4.16% | 3.75% | 3.88% | 4.26% | 3.7% | 3.86% |
| EPS 2 | 1.430 | 1.250 | 1.740 | 2.020 | 2.250 | 1.910 | 2.000 | 2.530 | 2.620 | 2.270 | 1.947 | 2.170 | 2.543 | 1.970 | 2.310 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/03/22 | 12/05/22 | 05/08/22 | 10/11/22 | 10/03/23 | 11/05/23 | 28/07/23 | 09/11/23 | 05/03/24 | 07/05/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | 2,604 | - | - | - | - |
| Net Cash position 1 | 3,510 | 1,613 | - | - | 2,095 | 1,127 | - |
| Leverage (Debt/EBITDA) | - | - | 1.38 x | - | - | - | - |
| Free Cash Flow 1 | 905 | -266 | -3,665 | - | 569 | 1,846 | 2,702 |
| ROE (net income / shareholders' equity) | 14.1% | 11.8% | 10.8% | - | 20.7% | 19% | 20.6% |
| ROA (Net income/ Total Assets) | 4.17% | 3.2% | 2.65% | - | 5.19% | 6.85% | 5.94% |
| Assets 1 | 24,772 | 28,378 | 32,487 | - | 46,020 | 38,402 | 51,330 |
| Book Value Per Share 2 | 30.80 | 30.90 | 32.70 | - | 50.80 | 51.70 | 66.60 |
| Cash Flow per Share 2 | 5.830 | 4.680 | -10.70 | - | 6.070 | 12.60 | - |
| Capex 1 | 560 | 1,426 | 885 | - | 1,010 | 942 | 1,100 |
| Capex / Sales | 1.76% | 3.95% | 2.02% | - | 1.61% | 1.44% | 1.41% |
| Announcement Date | 17/03/20 | 24/03/21 | 10/03/22 | 10/03/23 | 05/03/24 | - | - |
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
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
116
TWD
Average target price
151.4
TWD
Spread / Average Target
+30.52%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -13.75% | 1.05B | |
| +2.29% | 9.17B | |
| +27.94% | 2.48B | |
| -30.24% | 2.37B | |
| -24.26% | 1.74B | |
| -27.45% | 1.07B | |
| -5.87% | 1.09B | |
| -26.07% | 650M | |
| -8.21% | 576M | |
| +76.33% | 493M |
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