Financials AcBel Polytech Inc.

Equities

6282

TW0006282007

Electrical Components & Equipment

End-of-day quote Taiwan S.E. Other stock markets 06:00:00 2024-05-09 pm EDT			5-day change	1st Jan Change
37.55 ^TWD	+0.67%		-4.57%	-8.64%

May. 08	AcBel Polytech Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Mar. 13	AcBel Polytech Inc. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2022	2023	2024	2025
Capitalization ¹	12,476	14,956	15,710	35,435	32,363	-
Enterprise Value (EV) ¹	12,476	14,956	15,710	40,503	40,444	40,178
P/E ratio	-	-	27.1 x	587 x	26.1 x	17.5 x
Yield	-	-	-	1.22%	0.27%	0.99%
Capitalization / Revenue	-	0.71 x	-	1.27 x	0.91 x	0.82 x
EV / Revenue	-	0.71 x	-	1.45 x	1.13 x	1.02 x
EV / EBITDA	-	-	-	21.5 x	14.1 x	10.5 x
EV / FCF	-22 x	-	-	26.1 x	33.6 x	68.6 x
FCF Yield	-4.55%	-	-	3.83%	2.98%	1.46%
Price to Book	-	1.5 x	-	1.53 x	1.3 x	1.24 x
Nbr of stocks (in thousands)	516,621	516,621	526,291	862,154	861,860	-
Reference price ²	24.15	28.95	29.85	41.10	37.55	37.55
Announcement Date	3/19/20	3/9/21	3/8/23	3/13/24	-	-

¹TWD in Million²TWD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2022	2023	2024	2025
Net sales ¹	-	20,984	-	27,845	35,682	39,258
EBITDA ¹	-	-	-	1,887	2,874	3,809
EBIT ¹	-	391.2	-	538.2	1,939	2,398
Operating Margin	-	1.86%	-	1.93%	5.43%	6.11%
Earnings before Tax (EBT) ¹	-	-	-	335.4	1,605	2,390
Net income ¹	-	-	636.4	45.79	1,236	1,840
Net margin	-	-	-	0.16%	3.46%	4.69%
EPS ²	-	-	1.100	0.0700	1.440	2.140
Free Cash Flow ¹	-567.1	-	-	1,549	1,205	586
FCF margin	-	-	-	5.56%	3.38%	1.49%
FCF Conversion (EBITDA)	-	-	-	82.09%	41.93%	15.38%
FCF Conversion (Net income)	-	-	-	3,383.66%	97.49%	31.85%
Dividend per Share ²	-	-	-	0.5000	0.1000	0.3700
Announcement Date	3/19/20	3/9/21	3/8/23	3/13/24	-	-

¹TWD in Million²TWD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	5,139	4,934	-	8,241	7,892	9,373	9,765
EBITDA	-	-	-	-	-	-	-
EBIT ¹	72.52	99.82	-	251	210	540	620
Operating Margin	1.41%	2.02%	-	3.05%	2.66%	5.76%	6.35%
Earnings before Tax (EBT) ¹	-	-	-	68.09	208	538	618
Net income	29.55	15.45	71.62	-	-	-	-
Net margin	0.58%	0.31%	-	-	-	-	-
EPS ²	0.0200	0.0200	0.0900	-0.1300	0.1900	0.4800	0.5500
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	5/9/23	8/8/23	11/13/23	3/13/24	-	-	-

¹TWD in Million²TWD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2022	2023	2024	2025
Net Debt ¹	-	-	-	5,069	8,081	7,815
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	2.685 x	2.812 x	2.052 x
Free Cash Flow ¹	-567	-	-	1,549	1,205	586
ROE (net income / shareholders' equity)	-	-	-	0.28%	5.2%	7.3%
ROA (Net income/ Total Assets)	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-
Book Value Per Share ²	-	19.30	-	26.90	28.90	30.20
Cash Flow per Share	-	-	-	-	-	-
Capex ¹	1,524	-	-	2,326	1,500	1,500
Capex / Sales	-	-	-	8.35%	4.2%	3.82%
Announcement Date	3/19/20	3/9/21	3/8/23	3/13/24	-	-

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

Ratings for AcBel Polytech Inc.

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

37.55 TWD

Average target price

47.08 TWD

Spread / Average Target

+25.38%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electrical Component

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ACBEL POLYTECH INC.	-8.64%	997M
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BEIJING YUANLIU HONGYUAN ELECTRONIC TECHNOLOGY CO., LTD.	-27.93%	1.16B
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NINGBO SUNRISE ELC TECHNOLOGY CO.,LTD	-13.47%	929M
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Electrical Component