Financials TURVO International Co., Ltd.

Equities

2233

TW0002233004

Industrial Machinery & Equipment

End-of-day quote Taiwan S.E. 03:30:00 09/05/2024 am IST 5-day change 1st Jan Change
134.5 TWD -1.47% Intraday chart for TURVO International Co., Ltd. +2.67% -3.24%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 4,382 5,038 6,240 6,089 8,380 8,109 -
Enterprise Value (EV) 1 4,382 5,038 6,240 6,089 8,380 8,109 8,109
P/E ratio - - - - - - -
Yield 4.53% - - - - - -
Capitalization / Revenue 1.86 x 1.98 x 1.93 x 1.82 x 2.51 x 2.19 x 2.04 x
EV / Revenue 1.86 x 1.98 x 1.93 x 1.82 x 2.51 x 2.19 x 2.04 x
EV / EBITDA 7.64 x 7.53 x - 7.04 x 9.86 x 7.9 x 7.31 x
EV / FCF 95,42,527 x 2,34,22,121 x 1,01,71,100 x 1,00,08,805 x - - -
FCF Yield 0% 0% 0% 0% - - -
Price to Book 1.68 x 1.8 x 2 x 1.77 x 2.35 x - -
Nbr of stocks (in thousands) 60,197 60,197 60,288 60,288 60,288 60,288 -
Reference price 2 72.80 83.70 103.5 101.0 139.0 134.5 134.5
Announcement Date 25/03/20 29/03/21 29/03/22 24/03/23 25/03/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 2,354 2,538 3,233 3,350 3,337 3,698 3,966
EBITDA 1 573.3 669.1 - 865 849.7 1,026 1,109
EBIT 1 319.3 405 649.2 544.8 531.8 621 731
Operating Margin 13.57% 15.95% 20.08% 16.26% 15.93% 16.79% 18.43%
Earnings before Tax (EBT) - - - - - - -
Net income - - - - - - -
Net margin - - - - - - -
EPS - - - - - - -
Free Cash Flow 459.2 215.1 613.5 608.4 - - -
FCF margin 19.51% 8.47% 18.98% 18.16% - - -
FCF Conversion (EBITDA) 80.1% 32.15% - 70.33% - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 3.300 - - - - - -
Announcement Date 25/03/20 29/03/21 29/03/22 24/03/23 25/03/24 - -
1TWD in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 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
Net sales 1 868.1 699 899.1 851.1 859.8 740.3 780.4 - 897.5 864.9 868 891.5 992 947 944
EBITDA - - - - - - - - - - - - - - -
EBIT 1 199.5 104.4 163.3 138.2 133.4 109.8 98.98 - 186.9 149.7 138 149 177 157.5 162
Operating Margin 22.98% 14.94% 18.17% 16.24% 15.52% 14.84% 12.68% - 20.83% 17.31% 15.9% 16.71% 17.84% 16.63% 17.16%
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income - - - - - - - 135.3 - - - - - - -
Net margin - - - - - - - - - - - - - - -
EPS - - - - - - - 2.240 - - - - - - -
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 11/11/21 29/03/22 11/05/22 11/08/22 11/11/22 24/03/23 11/05/23 11/08/23 13/11/23 25/03/24 - - - - -
1TWD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 459 215 613 608 - - -
ROE (net income / shareholders' equity) 11.7% 13.9% 18.3% 19% 15.2% 15.1% 15.6%
ROA (Net income/ Total Assets) 8.14% 9.2% 11.8% 12.6% 10.5% 10.9% 11.5%
Assets - - - - - - -
Book Value Per Share 43.40 46.50 51.70 57.00 59.30 - -
Cash Flow per Share - - - - - - -
Capex 1 255 124 225 176 48.5 150 150
Capex / Sales 10.82% 4.89% 6.97% 5.25% 1.45% 4.06% 3.78%
Announcement Date 25/03/20 29/03/21 29/03/22 24/03/23 25/03/24 - -
1TWD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
134.5 TWD
Average target price
152 TWD
Spread / Average Target
+13.01%
Consensus

Quarterly revenue - Rate of surprise

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