POWERCHIP SEMICONDUCTOR MANUFACTURING CORP. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 25.55 TWD | +0.39% |
|
+6.02% | -13.24% |
Valuation
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 155,260 | 251,706 | 125,715 | 119,909 | 104,481 | - | - |
| Enterprise Value (EV) 1 | 155,260 | 228,445 | 82,833 | 127,805 | 135,027 | 138,018 | 147,274 |
| P/E ratio | 41.3 x | 16.1 x | 5.49 x | -73.6 x | 49 x | 11.2 x | 12.8 x |
| Yield | - | 2.57% | 3.23% | - | - | 0.97% | 1.6% |
| Capitalization / Revenue | 3.4 x | 3.84 x | 1.65 x | 2.72 x | 2.27 x | 1.78 x | 1.7 x |
| EV / Revenue | 3.4 x | 3.48 x | 1.09 x | 2.9 x | 2.94 x | 2.35 x | 2.39 x |
| EV / EBITDA | - | 8.68 x | 2.51 x | 35.6 x | 12.9 x | 7.37 x | 6.14 x |
| EV / FCF | - | 16 x | 6.13 x | -2.75 x | -49.8 x | -46.7 x | - |
| FCF Yield | - | 6.24% | 16.3% | -36.3% | -2.01% | -2.14% | - |
| Price to Book | - | 3.78 x | 1.34 x | 1.28 x | 1.1 x | 1.01 x | 0.96 x |
| Nbr of stocks (in thousands) | 3,105,197 | 3,535,196 | 3,947,105 | 4,071,597 | 4,089,276 | - | - |
| Reference price 2 | 50.00 | 71.20 | 31.85 | 29.45 | 25.55 | 25.55 | 25.55 |
| Announcement Date | 3/10/21 | 2/11/22 | 1/13/23 | 2/22/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 45,685 | 65,623 | 76,087 | 44,023 | 45,948 | 58,623 | 61,560 |
| EBITDA 1 | - | 26,323 | 32,954 | 3,594 | 10,486 | 18,716 | 23,983 |
| EBIT 1 | - | 20,088 | 26,328 | -3,156 | 2,366 | 10,574 | 10,393 |
| Operating Margin | - | 30.61% | 34.6% | -7.17% | 5.15% | 18.04% | 16.88% |
| Earnings before Tax (EBT) 1 | - | 19,209 | 26,965 | -2,086 | 3,938 | 14,012 | - |
| Net income 1 | 3,806 | 16,092 | 21,635 | -1,644 | 3,269 | 11,630 | - |
| Net margin | 8.33% | 24.52% | 28.43% | -3.73% | 7.11% | 19.84% | - |
| EPS 2 | 1.210 | 4.410 | 5.800 | -0.4000 | 0.5212 | 2.287 | 1.998 |
| Free Cash Flow 1 | - | 14,260 | 13,515 | -46,423 | -2,713 | -2,957 | - |
| FCF margin | - | 21.73% | 17.76% | -105.45% | -5.9% | -5.04% | - |
| FCF Conversion (EBITDA) | - | 54.17% | 41.01% | - | - | - | - |
| FCF Conversion (Net income) | - | 88.61% | 62.47% | - | - | - | - |
| Dividend per Share 2 | - | 1.830 | 1.030 | - | - | 0.2488 | 0.4094 |
| Announcement Date | 3/10/21 | 2/11/22 | 1/13/23 | 2/22/24 | - | - | - |
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 | 19,758 | 20,708 | 21,832 | 19,184 | 14,362 | 11,450 | 11,009 | 10,402 | 11,161 | 10,820 | 10,713 | 11,782 | 12,633 | 12,818 | 14,451 |
| EBITDA 1 | 9,137 | 9,959 | 10,482 | 8,055 | 4,458 | 1,968 | 1,597 | 306 | -277.3 | 988 | 1,091 | 2,100 | 2,635 | 3,494 | 4,864 |
| EBIT 1 | 7,537 | 8,319 | 8,813 | 6,387 | 2,809 | 334.3 | -66.26 | -1,408 | -2,017 | -1,072 | -868.2 | 986 | 1,697 | 1,730 | 2,209 |
| Operating Margin | 38.14% | 40.17% | 40.37% | 33.29% | 19.56% | 2.92% | -0.6% | -13.53% | -18.07% | -9.91% | -8.1% | 8.37% | 13.43% | 13.5% | 15.29% |
| Earnings before Tax (EBT) | 7,378 | 8,285 | 8,825 | 7,455 | 2,407 | 239.9 | - | -414.5 | -2,448 | - | - | - | - | - | - |
| Net income 1 | 6,200 | 6,622 | 7,023 | 6,071 | 1,920 | 186.8 | - | -333.4 | -2,114 | - | -480.3 | 65.71 | 190.4 | -6.596 | - |
| Net margin | 31.38% | 31.98% | 32.17% | 31.64% | 13.37% | 1.63% | - | -3.21% | -18.94% | - | -4.48% | 0.56% | 1.51% | -0.05% | - |
| EPS 2 | 1.640 | 1.710 | 1.800 | 1.610 | 0.4800 | 0.0400 | 0.1500 | -0.0800 | -0.5100 | -0.1100 | -0.1176 | 0.1675 | 0.2967 | 0.3135 | 0.4088 |
| Dividend per Share 2 | 1.180 | - | 1.180 | - | 0.3000 | - | - | - | - | - | - | - | - | - | 0.1080 |
| Announcement Date | 2/11/22 | 4/12/22 | 7/28/22 | 10/13/22 | 1/13/23 | 5/12/23 | 7/19/23 | 11/9/23 | 2/22/24 | 5/9/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | 7,896 | 30,546 | 33,537 | 42,793 |
| Net Cash position 1 | - | 23,261 | 42,883 | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | 2.197 x | 2.913 x | 1.792 x | 1.784 x |
| Free Cash Flow 1 | - | 14,260 | 13,515 | -46,423 | -2,713 | -2,957 | - |
| ROE (net income / shareholders' equity) | - | 32.2% | 26.7% | -1.74% | 2.4% | 8.64% | 7.96% |
| ROA (Net income/ Total Assets) | - | 15.3% | 14.2% | -0.91% | 1.61% | 5.22% | - |
| Assets 1 | - | 105,489 | 152,604 | 181,126 | 203,146 | 223,004 | - |
| Book Value Per Share 2 | - | 18.80 | 23.80 | 23.00 | 23.30 | 25.20 | 26.70 |
| Cash Flow per Share | - | 6.630 | 8.080 | - | - | - | - |
| Capex 1 | - | 9,931 | 19,347 | 47,925 | 32,960 | 20,438 | 20,000 |
| Capex / Sales | - | 15.13% | 25.43% | 108.86% | 71.73% | 34.86% | 32.49% |
| Announcement Date | 3/10/21 | 2/11/22 | 1/13/23 | 2/22/24 | - | - | - |
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
UNDERPERFORM
Number of Analysts
4
Last Close Price
25.55
TWD
Average target price
26.25
TWD
Spread / Average Target
+2.74%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -13.24% | 3.23B | |
| +91.53% | 2,331B | |
| +41.82% | 671B | |
| +25.36% | 655B | |
| +11.73% | 269B | |
| +38.73% | 221B | |
| +16.78% | 181B | |
| +49.79% | 143B | |
| -36.88% | 137B | |
| +53.49% | 115B |
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