Financials Lite-On Technology Corporation

Equities

2301

TW0002301009

Computer Hardware

End-of-day quote Taiwan S.E. Other stock markets 06:00:00 2024-05-16 pm EDT			5-day change	1st Jan Change
100 ^TWD	-0.50%		-4.76%	-14.53%

May. 09	AEye, Inc. Announces Partnership with LITEON Technology Corporation	CI
Apr. 30	LITE-ON technology Vietnam company limited Announces Obtaining Land Use Rights	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	114,691	115,713	145,691	146,772	268,048	230,613	-	-
Enterprise Value (EV) ¹	77,946	68,490	105,801	88,335	200,800	160,094	159,006	148,716
P/E ratio	12.4 x	11.7 x	10.6 x	10.3 x	18.4 x	16.8 x	13 x	13.9 x
Yield	6.48%	6.83%	7.05%	7.05%	3.85%	4.59%	5.38%	5.08%
Capitalization / Revenue	0.64 x	0.74 x	0.88 x	0.85 x	1.81 x	1.63 x	1.39 x	1.48 x
EV / Revenue	0.44 x	0.44 x	0.64 x	0.51 x	1.35 x	1.13 x	0.96 x	0.95 x
EV / EBITDA	5.57 x	4.81 x	6.16 x	4.51 x	10.6 x	8.79 x	6.52 x	6.44 x
EV / FCF	5.34 x	4.83 x	12.6 x	-	8.52 x	11.7 x	9.82 x	8.48 x
FCF Yield	18.7%	20.7%	7.96%	-	11.7%	8.54%	10.2%	11.8%
Price to Book	1.58 x	1.57 x	2.01 x	1.82 x	3.26 x	2.57 x	2.43 x	2.42 x
Nbr of stocks (in thousands)	2,324,026	2,323,564	2,283,564	2,300,501	2,291,010	2,306,126	-	-
Reference price ²	49.35	49.80	63.80	63.80	117.0	100.0	100.0	100.0
Announcement Date	2/25/20	2/25/21	2/14/22	2/21/23	2/29/24	-	-	-

¹TWD in Million²TWD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	177,954	157,134	164,828	173,456	148,333	141,176	165,329	155,866
EBITDA ¹	13,990	14,244	17,180	19,587	18,872	18,204	24,370	23,110
EBIT ¹	9,345	10,206	13,042	15,100	14,516	13,953	18,391	16,975
Operating Margin	5.25%	6.5%	7.91%	8.71%	9.79%	9.88%	11.12%	10.89%
Earnings before Tax (EBT) ¹	12,364	12,602	17,632	17,846	18,366	17,435	22,243	21,450
Net income ¹	9,375	10,016	13,887	14,200	14,571	13,882	17,759	17,000
Net margin	5.27%	6.37%	8.43%	8.19%	9.82%	9.83%	10.74%	10.91%
EPS ²	3.980	4.250	6.010	6.190	6.360	5.970	7.680	7.220
Free Cash Flow ¹	14,588	14,185	8,421	-	23,563	13,679	16,191	17,535
FCF margin	8.2%	9.03%	5.11%	-	15.88%	9.69%	9.79%	11.25%
FCF Conversion (EBITDA)	104.27%	99.58%	49.02%	-	124.85%	75.14%	66.44%	75.88%
FCF Conversion (Net income)	155.6%	141.62%	60.64%	-	161.71%	98.54%	91.17%	103.14%
Dividend per Share ²	3.200	3.400	4.500	4.500	4.500	4.590	5.378	5.080
Announcement Date	2/25/20	2/25/21	2/14/22	2/21/23	2/29/24	-	-	-

¹TWD in Million²TWD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	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	2025 Q2
Net sales ¹	44,569	41,230	42,957	46,200	43,095	34,174	37,293	39,957	36,909	28,776	33,580	39,013	40,321	34,868	37,105
EBITDA ¹	4,708	4,085	5,504	5,545	4,454	3,253	5,424	5,698	4,497	3,270	4,202	5,720	6,418	5,058	-
EBIT ¹	3,613	3,000	4,370	4,400	3,327	2,154	4,325	4,620	3,418	2,231	3,244	4,217	4,356	3,389	4,094
Operating Margin	8.11%	7.28%	10.17%	9.52%	7.72%	6.3%	11.6%	11.56%	9.26%	7.75%	9.66%	10.81%	10.8%	9.72%	11.03%
Earnings before Tax (EBT) ¹	3,158	2,657	4,993	5,348	4,848	2,975	5,295	5,744	4,352	3,129	4,140	4,899	4,957	3,962	4,864
Net income ¹	2,509	2,104	3,960	4,200	3,800	2,353	4,200	4,558	3,460	2,388	3,266	4,043	4,125	3,264	3,848
Net margin	5.63%	5.1%	9.22%	9.09%	8.82%	6.89%	11.26%	11.41%	9.37%	8.3%	9.72%	10.36%	10.23%	9.36%	10.37%
EPS ²	1.110	1.110	1.720	1.840	1.680	1.020	1.820	1.970	1.500	1.030	1.404	1.740	1.776	1.430	1.648
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/14/22	4/19/22	8/1/22	10/20/22	2/21/23	5/2/23	7/28/23	10/30/23	2/29/24	4/30/24	-	-	-	-	-

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	36,744	47,224	39,891	58,437	67,249	70,519	71,607	81,897
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	14,588	14,185	8,421	-	23,563	13,679	16,191	17,535
ROE (net income / shareholders' equity)	13%	13.7%	19%	-	17.6%	15.6%	18.3%	16.9%
ROA (Net income/ Total Assets)	4.89%	5.52%	7.72%	-	7.5%	6.97%	8.51%	7.2%
Assets ¹	191,884	181,350	179,811	-	194,376	199,305	208,587	236,118
Book Value Per Share ²	31.20	31.70	31.70	35.00	35.90	38.90	41.20	41.40
Cash Flow per Share ²	8.390	7.450	5.180	-	11.80	7.580	8.980	8.800
Capex ¹	5,174	3,378	3,738	-	3,703	4,043	4,683	4,003
Capex / Sales	2.91%	2.15%	2.27%	-	2.5%	2.86%	2.83%	2.57%
Announcement Date	2/25/20	2/25/21	2/14/22	2/21/23	2/29/24	-	-	-

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 Lite-On Technology Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

100 TWD

Average target price

118.6 TWD

Spread / Average Target

+18.63%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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