Financials Stars Microelectronics (Thailand)

Equities

SMT

TH1015A10Z04

Electronic Equipment & Parts

End-of-day quote Thailand S.E. 06:00:00 2024-05-26 pm EDT 5-day change 1st Jan Change
2.8 THB +1.45% Intraday chart for Stars Microelectronics (Thailand) +1.45% -24.32%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,581 978.7 2,225 5,437 4,234 3,087
Enterprise Value (EV) 1 2,798 2,072 3,140 6,121 4,470 2,960
P/E ratio 22.8 x -24.9 x 27.3 x 27.1 x 14.9 x 13.7 x
Yield - - - 0.77% 1.19% 1.89%
Capitalization / Revenue 0.88 x 0.55 x 1.16 x 2.47 x 1.49 x 1.18 x
EV / Revenue 1.56 x 1.16 x 1.63 x 2.78 x 1.57 x 1.13 x
EV / EBITDA 7.42 x 7.81 x 8.21 x 14.1 x 7.92 x 6.65 x
EV / FCF 31 x 19.5 x 28.6 x 54.2 x 12.7 x 8.44 x
FCF Yield 3.23% 5.12% 3.5% 1.84% 7.85% 11.9%
Price to Book 1.22 x 0.79 x 1.68 x 3.45 x 2.25 x 1.5 x
Nbr of stocks (in thousands) 836,479 836,479 836,479 836,491 838,367 834,426
Reference price 2 1.890 1.170 2.660 6.500 5.050 3.700
Announcement Date 2/21/19 2/20/20 2/18/21 2/18/22 2/27/23 2/22/24
1THB in Million2THB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,791 1,794 1,923 2,201 2,849 2,615
EBITDA 1 377.3 265.2 382.5 433.2 564.6 445.4
EBIT 1 128.4 0.6801 118.7 189.6 343.8 238.5
Operating Margin 7.17% 0.04% 6.17% 8.62% 12.07% 9.12%
Earnings before Tax (EBT) 1 73.17 -43.94 85.5 171.2 317.2 240.4
Net income 1 70.42 -39.37 81.39 209.7 303.5 235.3
Net margin 3.93% -2.19% 4.23% 9.53% 10.66% 9%
EPS 2 0.0830 -0.0471 0.0973 0.2400 0.3400 0.2700
Free Cash Flow 1 90.36 106 109.8 112.9 350.7 350.9
FCF margin 5.04% 5.91% 5.71% 5.13% 12.31% 13.42%
FCF Conversion (EBITDA) 23.95% 39.99% 28.7% 26.05% 62.12% 78.78%
FCF Conversion (Net income) 128.31% - 134.85% 53.82% 115.54% 149.09%
Dividend per Share - - - 0.0500 0.0600 0.0700
Announcement Date 2/21/19 2/20/20 2/18/21 2/18/22 2/27/23 2/22/24
1THB in Million2THB
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q3 2023 Q4
Net sales 1 590.9 683.6 851.8 751.2 703 525.1
EBITDA - - - 123.8 - -
EBIT 1 52.15 79.72 122.2 49.52 74.24 -36.32
Operating Margin 8.83% 11.66% 14.35% 6.59% 10.56% -6.92%
Earnings before Tax (EBT) 1 58.97 80.96 115 62.29 84.78 -20.16
Net income 1 56.84 71.1 102.8 72.81 82.11 -5.821
Net margin 9.62% 10.4% 12.07% 9.69% 11.68% -1.11%
EPS - - - - - -
Dividend per Share - - - - - -
Announcement Date 5/6/22 8/4/22 11/4/22 2/27/23 11/2/23 2/22/24
1THB in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,217 1,093 915 684 236 -
Net Cash position 1 - - - - - 127
Leverage (Debt/EBITDA) 3.225 x 4.123 x 2.393 x 1.579 x 0.4181 x -
Free Cash Flow 1 90.4 106 110 113 351 351
ROE (net income / shareholders' equity) 5.69% -3.29% 6.48% 14.5% 17.5% 11.9%
ROA (Net income/ Total Assets) 2.77% 0.01% 2.74% 4.4% 7.84% 5.84%
Assets 1 2,546 -265,998 2,975 4,769 3,870 4,029
Book Value Per Share 2 1.550 1.490 1.580 1.880 2.250 2.470
Cash Flow per Share 2 0.0300 0.1500 0.0400 0.0400 0.1400 0.1500
Capex 1 180 137 95.2 32.5 27 55.7
Capex / Sales 10.07% 7.64% 4.95% 1.48% 0.95% 2.13%
Announcement Date 2/21/19 2/20/20 2/18/21 2/18/22 2/27/23 2/22/24
1THB in Million2THB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly revenue - Rate of surprise

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