CHICONY ELECTRONICS CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 204.5 TWD | -1.92% |
|
+0.99% | +16.86% |
| May. 06 | Chicony Electronics Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| Apr. 16 | Chicony Electronics Co., Ltd. Announces Cash Dividend for the Year 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 61,477 | 60,521 | 58,263 | 61,660 | 126,471 | 148,152 | - | - |
| Enterprise Value (EV) 1 | 51,913 | 50,829 | 58,161 | 52,402 | 126,471 | 126,464 | 122,310 | 148,152 |
| P/E ratio | 10.7 x | 11.2 x | 9.45 x | 8.58 x | 16.9 x | 16.5 x | 14.6 x | 12.7 x |
| Yield | 6.63% | 6.38% | 7.41% | 8.69% | - | 4.45% | 5% | 5.29% |
| Capitalization / Revenue | 0.66 x | 0.64 x | 0.54 x | 0.53 x | 1.29 x | 1.39 x | 1.25 x | 1.13 x |
| EV / Revenue | 0.56 x | 0.53 x | 0.54 x | 0.45 x | 1.29 x | 1.19 x | 1.04 x | 1.13 x |
| EV / EBITDA | 6.04 x | 5 x | 5.03 x | 3.85 x | - | 8.46 x | 6.95 x | 7.51 x |
| EV / FCF | 6.26 x | 9.78 x | 41.6 x | 3.58 x | - | 17.3 x | 13.5 x | - |
| FCF Yield | 16% | 10.2% | 2.41% | 27.9% | - | 5.79% | 7.38% | - |
| Price to Book | 2.28 x | 2.18 x | 1.91 x | 1.73 x | - | 3.57 x | 3.24 x | - |
| Nbr of stocks (in thousands) | 690,758 | 702,098 | 707,930 | 714,483 | 722,690 | 724,460 | - | - |
| Reference price 2 | 89.00 | 86.20 | 82.30 | 86.30 | 175.0 | 204.5 | 204.5 | 204.5 |
| Announcement Date | 3/9/20 | 3/9/21 | 3/9/22 | 3/8/23 | 3/13/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 92,552 | 95,082 | 107,474 | 115,748 | 98,323 | 106,599 | 118,068 | 131,607 |
| EBITDA 1 | 8,596 | 10,173 | 11,573 | 13,610 | - | 14,950 | 17,601 | 19,722 |
| EBIT 1 | 6,232 | 7,663 | 8,613 | 10,418 | 9,409 | 11,706 | 13,743 | 16,178 |
| Operating Margin | 6.73% | 8.06% | 8.01% | 9% | 9.57% | 10.98% | 11.64% | 12.29% |
| Earnings before Tax (EBT) 1 | 8,189 | 8,218 | 9,452 | 11,197 | 11,273 | 13,636 | 15,493 | 17,701 |
| Net income 1 | 5,839 | 5,467 | 6,154 | 7,320 | 7,464 | 9,084 | 10,353 | 11,754 |
| Net margin | 6.31% | 5.75% | 5.73% | 6.32% | 7.59% | 8.52% | 8.77% | 8.93% |
| EPS 2 | 8.330 | 7.680 | 8.710 | 10.06 | 10.35 | 12.39 | 14.04 | 16.14 |
| Free Cash Flow 1 | 8,298 | 5,195 | 1,399 | 14,636 | - | 7,318 | 9,031 | - |
| FCF margin | 8.97% | 5.46% | 1.3% | 12.64% | - | 6.87% | 7.65% | - |
| FCF Conversion (EBITDA) | 96.54% | 51.06% | 12.09% | 107.54% | - | 48.95% | 51.31% | - |
| FCF Conversion (Net income) | 142.13% | 95.03% | 22.73% | 199.94% | - | 80.56% | 87.23% | - |
| Dividend per Share 2 | 5.900 | 5.500 | 6.100 | 7.500 | - | 9.092 | 10.23 | 10.83 |
| Announcement Date | 3/9/20 | 3/9/21 | 3/9/22 | 3/8/23 | 3/13/24 | - | - | - |
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 | 27,349 | 29,695 | 28,846 | 28,652 | 30,648 | 27,603 | 22,722 | 25,363 | 25,809 | 24,429 | 22,846 | 24,847 | 29,580 | 29,725 | 25,072 |
| EBITDA 1 | - | 3,261 | 3,234 | - | - | 3,131 | 2,568 | 2,797 | 3,755 | - | 2,971 | 3,414 | 4,283 | 4,265 | - |
| EBIT 1 | 2,449 | 2,468 | 2,462 | 2,513 | 3,118 | 2,325 | 1,786 | 2,033 | 3,001 | 2,588 | 2,279 | 2,605 | 3,404 | 3,400 | 2,645 |
| Operating Margin | 8.95% | 8.31% | 8.54% | 8.77% | 10.17% | 8.42% | 7.86% | 8.02% | 11.63% | 10.59% | 9.98% | 10.48% | 11.51% | 11.44% | 10.55% |
| Earnings before Tax (EBT) 1 | 2,450 | 2,624 | 2,545 | 2,791 | 3,396 | 2,465 | 2,136 | 2,958 | 3,110 | 3,069 | 2,748 | 3,087 | 4,073 | 3,790 | 2,850 |
| Net income 1 | 1,596 | 1,666 | 1,709 | 1,784 | 2,125 | 1,702 | 1,470 | 1,804 | 2,121 | 2,070 | 1,762 | 2,059 | 2,750 | 2,545 | 1,938 |
| Net margin | 5.84% | 5.61% | 5.92% | 6.23% | 6.93% | 6.17% | 6.47% | 7.11% | 8.22% | 8.47% | 7.71% | 8.29% | 9.3% | 8.56% | 7.73% |
| EPS 2 | 2.230 | 2.450 | 2.380 | 2.480 | 2.960 | 2.310 | 2.030 | 2.490 | 2.930 | 2.870 | 2.420 | 2.808 | 3.754 | 3.471 | 2.550 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/5/21 | 3/9/22 | 5/9/22 | 8/8/22 | 11/3/22 | 3/8/23 | 5/9/23 | 8/7/23 | 11/3/23 | 3/13/24 | 5/6/24 | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 9,565 | 9,692 | 101 | 9,258 | - | 21,688 | 25,842 | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 8,298 | 5,195 | 1,399 | 14,636 | - | 7,318 | 9,031 | - |
| ROE (net income / shareholders' equity) | 22.7% | 19.9% | 21.1% | 22.1% | 18.3% | 20.7% | 21.9% | 24.1% |
| ROA (Net income/ Total Assets) | 8.32% | 7.44% | 7.73% | 8.57% | - | 9.61% | 9.41% | - |
| Assets 1 | 70,188 | 73,443 | 79,584 | 85,395 | - | 94,492 | 110,079 | - |
| Book Value Per Share 2 | 39.10 | 39.60 | 43.00 | 50.00 | - | 57.40 | 63.10 | - |
| Cash Flow per Share 2 | 15.80 | 11.80 | 6.210 | 22.90 | - | 15.10 | 16.40 | - |
| Capex 1 | 2,760 | 3,235 | 2,989 | 1,337 | - | 3,200 | 2,000 | - |
| Capex / Sales | 2.98% | 3.4% | 2.78% | 1.16% | - | 3% | 1.69% | - |
| Announcement Date | 3/9/20 | 3/9/21 | 3/9/22 | 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
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
204.5
TWD
Average target price
255.2
TWD
Spread / Average Target
+24.82%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +16.86% | 4.57B | |
| +19.07% | 5.33B | |
| -4.63% | 1.53B | |
| +40.38% | 1.53B | |
| -4.62% | 1.42B | |
| +46.53% | 1.42B | |
| +3.13% | 1.04B | |
| +115.00% | 859M | |
| +5.78% | 676M | |
| +2.74% | 623M |
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