Financials TSEC Corporation

Equities

6443

TW0006443005

Semiconductors

End-of-day quote Taiwan S.E. 03:30:00 03/05/2024 am IST 5-day change 1st Jan Change
27.35 TWD -0.55% Intraday chart for TSEC Corporation -1.97% -6.66%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,100 2,881 18,612 18,946 17,351 15,025
Enterprise Value (EV) 1 7,047 6,309 20,645 21,052 19,818 16,771
P/E ratio -2.67 x -12.6 x -56.2 x 425 x 84.3 x 28.3 x
Yield - - - - 0.29% -
Capitalization / Revenue 0.81 x 0.65 x 4.03 x 3.08 x 1.93 x 1.82 x
EV / Revenue 1.84 x 1.42 x 4.46 x 3.42 x 2.2 x 2.03 x
EV / EBITDA -30.2 x 10.6 x 31.7 x 37.5 x 23.5 x 10 x
EV / FCF -10.9 x 91.1 x -42.9 x -35.1 x -16.9 x -112 x
FCF Yield -9.13% 1.1% -2.33% -2.85% -5.92% -0.89%
Price to Book 1.05 x 0.89 x 3.91 x 3.69 x 2.68 x 1.97 x
Nbr of stocks (in thousands) 3,14,018 3,79,017 4,45,797 4,45,797 5,02,191 5,12,797
Reference price 2 9.871 7.600 41.75 42.50 34.55 29.30
Announcement Date 27/02/19 27/03/20 31/03/21 25/03/22 14/03/23 12/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 3,831 4,441 4,624 6,157 9,005 8,261
EBITDA 1 -233.6 597.2 651.2 561.6 843.8 1,669
EBIT 1 -1,001 -96.43 88.81 55.32 263.9 791.5
Operating Margin -26.13% -2.17% 1.92% 0.9% 2.93% 9.58%
Earnings before Tax (EBT) 1 -1,254 -182.9 -325.4 46.25 175.4 521.9
Net income 1 -1,157 -200.6 -285.8 46.32 189.6 527.3
Net margin -30.19% -4.52% -6.18% 0.75% 2.11% 6.38%
EPS 2 -3.690 -0.6010 -0.7434 0.1000 0.4100 1.036
Free Cash Flow 1 -643.6 69.29 -481.1 -600.5 -1,172 -149.1
FCF margin -16.8% 1.56% -10.4% -9.75% -13.02% -1.8%
FCF Conversion (EBITDA) - 11.6% - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share - - - - 0.1000 -
Announcement Date 27/02/19 27/03/20 31/03/21 25/03/22 14/03/23 12/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1
Net sales 1 1,406 2,245 2,006 1,891 2,273 2,835 2,179
EBITDA - - - - - - -
EBIT 1 -104.5 265.7 63.6 21.1 31.33 131.8 109.8
Operating Margin -7.43% 11.83% 3.17% 1.12% 1.38% 4.65% 5.04%
Earnings before Tax (EBT) 1 -122.6 259.6 23.36 12.82 18.59 120.7 151.7
Net income 1 -106.4 245 28.88 14.4 22.53 123.8 176.1
Net margin -7.57% 10.91% 1.44% 0.76% 0.99% 4.37% 8.08%
EPS 2 -0.2400 0.5500 0.0600 0.0300 0.0500 0.2700 0.3700
Dividend per Share - - - - - - -
Announcement Date 12/11/21 25/03/22 16/05/22 05/08/22 10/11/22 14/03/23 12/05/23
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 3,947 3,429 2,033 2,106 2,468 1,746
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) -16.9 x 5.742 x 3.122 x 3.749 x 2.924 x 1.046 x
Free Cash Flow 1 -644 69.3 -481 -600 -1,172 -149
ROE (net income / shareholders' equity) -33.3% -6.47% -7.11% 0.96% 3.36% 7.64%
ROA (Net income/ Total Assets) -6.74% -0.75% 0.64% 0.35% 1.53% 4.23%
Assets 1 17,165 26,885 -44,476 13,162 12,382 12,456
Book Value Per Share 2 9.440 8.510 10.70 11.50 12.90 14.90
Cash Flow per Share 2 0.5900 1.140 3.660 2.370 1.760 2.330
Capex 1 1,047 225 430 928 1,301 1,196
Capex / Sales 27.34% 5.08% 9.29% 15.07% 14.44% 14.48%
Announcement Date 27/02/19 27/03/20 31/03/21 25/03/22 14/03/23 12/03/24
1TWD in Million2TWD
Estimates
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