WIN SEMICONDUCTORS CORP. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 146 TWD | +0.69% |
|
+6.57% | -8.18% |
| 26/04 | Transcript : WIN Semiconductors Corp., Q1 2024 Earnings Call, Apr 26, 2024 | |
| 26/04 | WIN Semiconductors Corp. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,24,673 | 1,46,724 | 1,58,755 | 57,868 | 67,407 | 60,835 | - | - |
| Enterprise Value (EV) 1 | 1,24,534 | 1,49,031 | 1,71,703 | 75,759 | 84,852 | 74,034 | 71,815 | 69,181 |
| P/E ratio | 27.8 x | 22.4 x | 29 x | 32.4 x | -837 x | 27.3 x | 19.2 x | 15.4 x |
| Yield | 2.38% | 2.89% | 2.14% | 1.83% | - | 1.99% | 2.82% | 3.77% |
| Capitalization / Revenue | 5.83 x | 5.74 x | 6.06 x | 3.16 x | 4.26 x | 2.95 x | 2.65 x | 2.41 x |
| EV / Revenue | 5.83 x | 5.83 x | 6.56 x | 4.13 x | 5.36 x | 3.6 x | 3.13 x | 2.74 x |
| EV / EBITDA | 14 x | 12.9 x | 16.2 x | 13.1 x | 18.6 x | 10.8 x | 8.42 x | 7.45 x |
| EV / FCF | 44.8 x | 605 x | 158 x | 211 x | 80 x | 32.1 x | 19.8 x | 19.4 x |
| FCF Yield | 2.23% | 0.17% | 0.63% | 0.47% | 1.25% | 3.11% | 5.04% | 5.15% |
| Price to Book | 4.2 x | 4.31 x | 4.54 x | 1.74 x | 1.99 x | 1.66 x | 1.58 x | 1.52 x |
| Nbr of stocks (in thousands) | 4,24,056 | 4,24,056 | 4,23,911 | 4,23,940 | 4,23,940 | 4,23,940 | - | - |
| Reference price 2 | 294.0 | 346.0 | 374.5 | 136.5 | 159.0 | 143.5 | 143.5 | 143.5 |
| Announcement Date | 12/02/20 | 04/02/21 | 11/02/22 | 09/02/23 | 05/02/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 21,378 | 25,546 | 26,182 | 18,330 | 15,836 | 20,587 | 22,966 | 25,206 |
| EBITDA 1 | 8,907 | 11,518 | 10,590 | 5,787 | 4,565 | 6,869 | 8,529 | 9,290 |
| EBIT 1 | 5,559 | 7,782 | 6,423 | 1,482 | -56 | 2,107 | 3,582 | 4,562 |
| Operating Margin | 26% | 30.46% | 24.53% | 8.09% | -0.35% | 10.23% | 15.6% | 18.1% |
| Earnings before Tax (EBT) 1 | 5,393 | 8,002 | 6,400 | 1,809 | -679 | 2,150 | 3,353 | 4,299 |
| Net income 1 | 4,401 | 6,469 | 5,210 | 1,398 | -80 | 2,246 | 3,142 | 3,988 |
| Net margin | 20.59% | 25.32% | 19.9% | 7.63% | -0.51% | 10.91% | 13.68% | 15.82% |
| EPS 2 | 10.59 | 15.45 | 12.90 | 4.210 | -0.1900 | 5.261 | 7.456 | 9.340 |
| Free Cash Flow 1 | 2,778 | 246.2 | 1,086 | 358.4 | 1,061 | 2,305 | 3,620 | 3,564 |
| FCF margin | 13% | 0.96% | 4.15% | 1.96% | 6.7% | 11.2% | 15.76% | 14.14% |
| FCF Conversion (EBITDA) | 31.19% | 2.14% | 10.26% | 6.19% | 23.24% | 33.55% | 42.44% | 38.36% |
| FCF Conversion (Net income) | 63.13% | 3.81% | 20.85% | 25.64% | - | 102.62% | 115.2% | 89.36% |
| Dividend per Share 2 | 7.000 | 10.00 | 8.000 | 2.500 | - | 2.860 | 4.048 | 5.410 |
| Announcement Date | 12/02/20 | 04/02/21 | 11/02/22 | 09/02/23 | 05/02/24 | - | - | - |
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 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 6,761 | 7,217 | 5,597 | 5,297 | 3,909 | 3,527 | 2,860 | 3,944 | 4,165 | 4,868 | 4,442 | 4,966 | 5,474 | 5,653 | 4,744 |
| EBITDA 1 | 2,832 | 3,061 | 2,010 | - | 872.3 | 1,070 | 511.6 | 1,002 | 1,252 | 1,829 | 1,540 | 1,598 | 2,017 | 2,179 | 1,768 |
| EBIT 1 | 1,810 | 2,009 | 916 | 747 | -200.4 | 19 | -595 | -170 | 70 | 639 | 184 | 418.4 | 741.5 | 829.7 | 425 |
| Operating Margin | 26.77% | 27.83% | 16.37% | 14.1% | -5.13% | 0.54% | -20.8% | -4.31% | 1.68% | 13.13% | 4.14% | 8.43% | 13.55% | 14.68% | 8.96% |
| Earnings before Tax (EBT) 1 | 1,838 | 2,049 | 991 | 669 | 299.3 | -149 | -556 | -362 | -44 | 282 | 309 | 385.9 | 715.4 | 842.3 | 406.3 |
| Net income 1 | 1,496 | 1,690 | 786 | 544 | 244.7 | -177 | -479 | -276 | 34 | 385 | 407 | 426.2 | 692.2 | 774 | 403.9 |
| Net margin | 22.13% | 23.42% | 14.04% | 10.27% | 6.26% | -5.02% | -16.75% | -7% | 0.82% | 7.91% | 9.16% | 8.58% | 12.65% | 13.69% | 8.52% |
| EPS 2 | 3.670 | 4.190 | 2.080 | 1.520 | 0.2500 | -0.2200 | -0.9500 | -0.2300 | 0.0800 | 0.9100 | 0.9600 | 1.006 | 1.698 | 1.824 | 0.9391 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | 2.796 | - | - |
| Announcement Date | 30/10/21 | 11/02/22 | 28/04/22 | 27/07/22 | 28/10/22 | 09/02/23 | 28/04/23 | 31/07/23 | 27/10/23 | 05/02/24 | 26/04/24 | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 2,307 | 12,948 | 17,891 | 17,445 | 13,199 | 10,979 | 8,345 |
| Net Cash position 1 | 138 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.2003 x | 1.223 x | 3.092 x | 3.821 x | 1.921 x | 1.287 x | 0.8983 x |
| Free Cash Flow 1 | 2,778 | 246 | 1,086 | 358 | 1,061 | 2,305 | 3,620 | 3,564 |
| ROE (net income / shareholders' equity) | 16% | 20% | 16% | 5% | -0.2% | 6.19% | 8.56% | 10.2% |
| ROA (Net income/ Total Assets) | 11.3% | 13.4% | 8.04% | 2.5% | -0.12% | 2.86% | 4.36% | 5.78% |
| Assets 1 | 38,795 | 48,414 | 64,798 | 55,862 | 69,150 | 78,626 | 72,014 | 69,024 |
| Book Value Per Share 2 | 69.90 | 80.40 | 82.40 | 78.30 | 80.10 | 86.20 | 90.80 | 94.20 |
| Cash Flow per Share 2 | 19.50 | 20.60 | 17.30 | 14.00 | 9.690 | 12.80 | 18.30 | 18.60 |
| Capex 1 | 5,306 | 8,509 | 8,081 | 7,124 | 3,209 | 3,253 | 4,735 | 5,391 |
| Capex / Sales | 24.82% | 33.31% | 30.86% | 38.87% | 20.26% | 15.8% | 20.62% | 21.39% |
| Announcement Date | 12/02/20 | 04/02/21 | 11/02/22 | 09/02/23 | 05/02/24 | - | - | - |
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
HOLD
Number of Analysts
17
Last Close Price
143.5
TWD
Average target price
161.8
TWD
Spread / Average Target
+12.78%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -8.18% | 1.88B | |
| -2.27% | 49.07B | |
| +19.54% | 11.55B | |
| +51.45% | 8.85B | |
| +3.41% | 8.36B | |
| +8.15% | 7.71B | |
| -18.27% | 7.42B | |
| -11.07% | 6.91B | |
| -13.27% | 6.81B | |
| +31.60% | 6.62B |
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