M31 TECHNOLOGY CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,055 TWD | -1.40% |
|
+3.94% | -0.47% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 10,492 | 10,499 | 12,480 | 14,394 | 36,958 | 36,758 | - | - |
| Enterprise Value (EV) 1 | 10,492 | 9,303 | 11,845 | 14,394 | 36,004 | 35,702 | 35,361 | 34,761 |
| P/E ratio | 33.9 x | 32.6 x | 49 x | 37.8 x | 84.9 x | 69.7 x | 44.5 x | 31.9 x |
| Yield | - | 2.37% | 1.58% | - | - | 0.84% | 1.18% | 2.42% |
| Capitalization / Revenue | 12.1 x | 10.7 x | 12.3 x | 10.6 x | 22.9 x | 18.5 x | 14.1 x | 10.9 x |
| EV / Revenue | 12.1 x | 9.48 x | 11.7 x | 10.6 x | 22.3 x | 18 x | 13.6 x | 10.3 x |
| EV / EBITDA | - | 20.2 x | 33.5 x | 34.7 x | 72.7 x | 58.4 x | 34.2 x | 21.7 x |
| EV / FCF | 33 x | 27.2 x | -38.4 x | - | 175 x | 119 x | 52.4 x | 39.5 x |
| FCF Yield | 3.03% | 3.68% | -2.6% | - | 0.57% | 0.84% | 1.91% | 2.53% |
| Price to Book | 7.28 x | 7 x | 7.93 x | - | 17.9 x | 14.1 x | 12.9 x | 9.9 x |
| Nbr of stocks (in thousands) | 34,450 | 34,218 | 34,535 | 34,647 | 34,866 | 34,842 | - | - |
| Reference price 2 | 304.5 | 306.8 | 361.4 | 415.5 | 1,060 | 1,055 | 1,055 | 1,055 |
| Announcement Date | 2/25/20 | 2/22/21 | 2/24/22 | 2/23/23 | 3/4/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 869.1 | 981 | 1,012 | 1,360 | 1,612 | 1,984 | 2,609 | 3,374 |
| EBITDA 1 | - | 460.4 | 353.3 | 415.3 | 495.5 | 611.8 | 1,035 | 1,600 |
| EBIT 1 | 369.9 | 418.2 | 312.9 | 368 | 446.5 | 554 | 984.1 | 1,544 |
| Operating Margin | 42.56% | 42.63% | 30.92% | 27.05% | 27.69% | 27.92% | 37.72% | 45.76% |
| Earnings before Tax (EBT) 1 | 362 | 376.5 | 293.6 | 443.1 | 513.3 | 626 | 968 | 1,354 |
| Net income 1 | 308.6 | 322.2 | 252.6 | 379.3 | 435.2 | 528 | 821.7 | 1,147 |
| Net margin | 35.5% | 32.85% | 24.97% | 27.88% | 26.99% | 26.61% | 31.49% | 34% |
| EPS 2 | 8.991 | 9.400 | 7.373 | 10.98 | 12.49 | 15.14 | 23.69 | 33.10 |
| Free Cash Flow 1 | 318.2 | 342.5 | -308.5 | - | 205.7 | 300 | 675 | 879 |
| FCF margin | 36.61% | 34.91% | -30.49% | - | 12.76% | 15.12% | 25.87% | 26.06% |
| FCF Conversion (EBITDA) | - | 74.38% | - | - | 41.51% | 49.04% | 65.22% | 54.95% |
| FCF Conversion (Net income) | 103.13% | 106.28% | - | - | 47.27% | 56.82% | 82.15% | 76.63% |
| Dividend per Share 2 | - | 7.273 | 5.727 | - | - | 8.895 | 12.48 | 25.58 |
| Announcement Date | 2/25/20 | 2/22/21 | 2/24/22 | 2/23/23 | 3/4/24 | - | - | - |
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 | 364.1 | 247.7 | 299.7 | 323.5 | 489.2 | 313 | 347.8 | 432.5 | 519.1 | 342.1 | 457 | 539 | 646 | 489 | 562 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 143.6 | 23.86 | 73.1 | 64.94 | 206.1 | 44.64 | 87.34 | 146 | 168.6 | 2.708 | 114 | 178 | 259 | 113 | 163 |
| Operating Margin | 39.43% | 9.63% | 24.39% | 20.08% | 42.12% | 14.26% | 25.11% | 33.75% | 32.47% | 0.79% | 24.95% | 33.02% | 40.09% | 23.11% | 29% |
| Earnings before Tax (EBT) 1 | 141.8 | 47.78 | 95.59 | 120.5 | 179.3 | 88.1 | 114.3 | 181.2 | 129.7 | - | 121 | 185 | 266 | 120 | 178 |
| Net income 1 | 121.8 | 39.78 | 82.18 | 101.5 | 155.8 | 70.07 | 98.5 | 153.6 | 113 | - | 103 | 157 | 226 | 101 | 150 |
| Net margin | 33.44% | 16.06% | 27.42% | 31.37% | 31.85% | 22.39% | 28.32% | 35.51% | 21.77% | - | 22.54% | 29.13% | 34.98% | 20.65% | 26.69% |
| EPS 2 | 3.545 | 1.164 | 2.391 | 2.964 | 4.500 | 2.018 | 2.830 | 4.410 | 3.240 | 1.210 | 2.950 | 4.500 | 6.480 | 2.940 | 4.350 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/24/22 | 5/6/22 | 8/2/22 | 11/3/22 | 2/23/23 | 5/11/23 | 8/3/23 | 11/2/23 | 3/4/24 | 5/14/24 | - | - | - | - | - |
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 | - | 1,196 | 635 | - | 954 | 1,056 | 1,397 | 1,997 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 318 | 342 | -308 | - | 206 | 300 | 675 | 879 |
| ROE (net income / shareholders' equity) | 28.2% | 21.8% | 16.3% | - | 22.2% | 24.5% | 32.9% | 40.7% |
| ROA (Net income/ Total Assets) | 24.1% | 19.2% | 13.7% | - | 18.3% | 19.8% | 27.5% | 32% |
| Assets 1 | 1,279 | 1,678 | 1,847 | - | 2,382 | 2,671 | 2,992 | 3,590 |
| Book Value Per Share 2 | 41.80 | 43.80 | 45.50 | - | 59.20 | 74.80 | 81.70 | 107.0 |
| Cash Flow per Share 2 | - | - | - | - | 6.930 | 5.600 | 16.60 | 28.20 |
| Capex 1 | 41.3 | 43.2 | 533 | - | 35.7 | 65 | 68.7 | 88 |
| Capex / Sales | 4.76% | 4.4% | 52.67% | - | 2.21% | 3.28% | 2.63% | 2.61% |
| Announcement Date | 2/25/20 | 2/22/21 | 2/24/22 | 2/23/23 | 3/4/24 | - | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
1,055
TWD
Average target price
1,534
TWD
Spread / Average Target
+45.44%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -0.47% | 1.14B | |
| -15.85% | 790M | |
| -32.38% | 372M | |
| -4.84% | 307M | |
| -21.19% | 265M | |
| -2.41% | 261M | |
| -45.80% | 152M | |
| +7.14% | 120M | |
| +5.77% | 102M | |
| 0.00% | 97.18M |
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- Financials M31 Technology Corporation
