Financials WPG Holdings Limited

Equities

3702

TW0003702007

Semiconductors

End-of-day quote Taiwan S.E. 03:30:00 10/05/2024 am IST 5-day change 1st Jan Change
92.1 TWD +2.79% Intraday chart for WPG Holdings Limited +2.68% +12.87%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 73,471 72,032 88,318 80,763 1,37,011 1,50,443 - -
Enterprise Value (EV) 1 1,46,330 1,45,085 1,96,438 80,763 2,37,461 2,14,111 2,27,745 2,36,192
P/E ratio 10.2 x 8.99 x 7.97 x 7.99 x 17.8 x 19.5 x 15.6 x 9.71 x
Yield 6.14% 7.23% 6.65% - - 4.14% 5.28% 6.66%
Capitalization / Revenue 0.14 x 0.12 x 0.11 x 0.1 x 0.2 x 0.2 x 0.18 x 0.14 x
EV / Revenue 0.28 x 0.24 x 0.25 x 0.1 x 0.35 x 0.28 x 0.27 x 0.23 x
EV / EBITDA 14.3 x 13.3 x 13.3 x 5.14 x 20.6 x 14.5 x 13.5 x 11.5 x
EV / FCF - 12.3 x - - - -75.9 x - -
FCF Yield - 8.12% - - - -1.32% - -
Price to Book 1.03 x 1.1 x 1.25 x - 1.86 x 1.66 x 1.54 x 1.42 x
Nbr of stocks (in thousands) 18,79,057 16,79,057 16,79,057 16,79,057 16,79,057 16,79,057 - -
Reference price 2 39.10 42.90 52.60 48.10 81.60 89.60 89.60 89.60
Announcement Date 18/03/20 30/03/21 01/03/22 01/03/23 29/02/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,27,601 6,09,886 7,78,573 7,75,232 6,71,888 7,60,724 8,48,987 10,46,130
EBITDA 1 10,261 10,879 14,777 15,723 11,520 14,758 16,884 20,489
EBIT 1 9,613 10,050 13,804 14,700 10,395 12,920 15,002 19,451
Operating Margin 1.82% 1.65% 1.77% 1.9% 1.55% 1.7% 1.77% 1.86%
Earnings before Tax (EBT) 1 8,188 9,888 - 12,710 10,282 6,732 8,274 -
Net income 1 6,453 8,123 - 10,512 8,109 5,508 6,837 -
Net margin 1.22% 1.33% - 1.36% 1.21% 0.72% 0.81% -
EPS 2 3.840 4.770 6.600 6.020 4.590 4.595 5.745 9.230
Free Cash Flow 1 - 11,787 - - - -2,821 - -
FCF margin - 1.93% - - - -0.37% - -
FCF Conversion (EBITDA) - 108.35% - - - - - -
FCF Conversion (Net income) - 145.1% - - - - - -
Dividend per Share 2 2.400 3.100 3.500 - - 3.710 4.730 5.970
Announcement Date 18/03/20 30/03/21 01/03/22 01/03/23 29/02/24 - - -
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 2,01,890 1,99,342 - 1,99,056 1,89,823 1,76,488 1,44,754 1,56,690 1,87,355 1,83,090 1,68,461 1,72,058 1,93,678 1,91,432 1,78,209
EBITDA - - - - - 3,413 2,213 2,739 3,243 - - - - - -
EBIT 1 3,900 - - 3,642 3,558 3,146 1,941 2,466 2,964 3,023 2,814 2,798 3,388 3,028 3,069
Operating Margin 1.93% - - 1.83% 1.87% 1.78% 1.34% 1.57% 1.58% 1.65% 1.67% 1.63% 1.75% 1.58% 1.72%
Earnings before Tax (EBT) 1 3,872 - - 3,596 3,265 1,677 866.2 3,601 1,898 3,917 1,211 1,484 2,394 1,643 1,669
Net income 1 3,185 2,705 - 2,897 2,762 1,410 684.9 2,317 1,592 3,515 980 1,185 2,009 1,333 1,342
Net margin 1.58% 1.36% - 1.46% 1.45% 0.8% 0.47% 1.48% 0.85% 1.92% 0.58% 0.69% 1.04% 0.7% 0.75%
EPS 2 1.900 1.610 2.050 1.490 1.640 0.8400 0.4100 1.140 0.9500 2.090 0.6750 1.000 1.550 1.375 1.290
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 12/11/21 01/03/22 11/05/22 11/08/22 10/11/22 01/03/23 12/05/23 11/08/23 13/11/23 29/02/24 - - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 72,859 73,054 1,08,120 - 1,00,450 63,668 77,302 85,749
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 7.1 x 6.715 x 7.317 x - 8.72 x 4.314 x 4.578 x 4.185 x
Free Cash Flow 1 - 11,787 - - - -2,821 - -
ROE (net income / shareholders' equity) 11% 12.6% 16.9% - 9.8% 9.31% 10.4% 15.2%
ROA (Net income/ Total Assets) 3.03% 3.5% - - 2.57% 1.64% 1.81% -
Assets 1 2,13,202 2,32,162 - - 3,15,312 3,35,854 3,77,735 -
Book Value Per Share 2 37.80 39.00 41.90 - 43.90 53.90 58.10 63.10
Cash Flow per Share 2 - - - - - -3.090 - -
Capex 1 355 6,038 - - 643 120 121 -
Capex / Sales 0.07% 0.99% - - 0.1% 0.02% 0.01% -
Announcement Date 18/03/20 30/03/21 01/03/22 01/03/23 29/02/24 - - -
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-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
4
Last Close Price
89.6 TWD
Average target price
73.98 TWD
Spread / Average Target
-17.44%
Consensus
  1. Stock Market
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  4. Financials WPG Holdings Limited
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