TDCX INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 7.16 USD | 0.00% |
|
+1.27% | +47.63% |
| Mar. 21 | Volvo Cars Taps TDCX to Enhance Customer Experience for Europe | CI |
| Mar. 06 | TDCX Q4 Adjusted Earnings, Revenue Decline | MT |
Valuation
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Capitalization 1 | 3,691 | 2,418 | 936.5 | 1,389 | - |
| Enterprise Value (EV) 1 | 3,416 | 2,067 | 528.3 | 772.1 | 662.5 |
| P/E ratio | 31.9 x | 23 x | 7.71 x | 11.7 x | 11.1 x |
| Yield | - | - | - | - | - |
| Capitalization / Revenue | 6.65 x | 3.64 x | 1.42 x | 1.89 x | 1.76 x |
| EV / Revenue | 6.15 x | 3.11 x | 0.8 x | 1.05 x | 0.84 x |
| EV / EBITDA | 19 x | 11.5 x | 2.93 x | 4.28 x | 3.26 x |
| EV / FCF | 41.1 x | 14.8 x | 4.21 x | 6.13 x | 5.03 x |
| FCF Yield | 2.43% | 6.78% | 23.7% | 16.3% | 19.9% |
| Price to Book | 8.12 x | 4.28 x | 1.43 x | 1.7 x | 1.52 x |
| Nbr of stocks (in thousands) | 142,859 | 145,763 | 146,387 | 144,039 | - |
| Reference price 2 | 25.83 | 16.59 | 6.398 | 9.646 | 9.646 |
| Announcement Date | 3/9/22 | 3/7/23 | 3/6/24 | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Net sales 1 | - | 555.2 | 664.1 | 658.4 | 736 | 787.9 |
| EBITDA 1 | - | 179.8 | 180.3 | 180.5 | 180.4 | 203.4 |
| EBIT 1 | - | 139.9 | 140.6 | 136.9 | 132.9 | 150.4 |
| Operating Margin | - | 25.21% | 21.17% | 20.8% | 18.05% | 19.09% |
| Earnings before Tax (EBT) 1 | - | 132.1 | 142 | 146.5 | 144.6 | 153.8 |
| Net income 1 | 86.09 | 103.8 | 104.9 | 120.1 | 114 | 123.2 |
| Net margin | - | 18.7% | 15.8% | 18.24% | 15.49% | 15.63% |
| EPS 2 | - | 0.8100 | 0.7200 | 0.8300 | 0.8244 | 0.8701 |
| Free Cash Flow 1 | - | 83.18 | 140.1 | 125.4 | 125.9 | 131.6 |
| FCF margin | - | 14.98% | 21.09% | 19.04% | 17.11% | 16.7% |
| FCF Conversion (EBITDA) | - | 46.26% | 77.69% | 69.44% | 69.78% | 64.71% |
| FCF Conversion (Net income) | - | 80.1% | 133.49% | 104.4% | 110.45% | 106.85% |
| Dividend per Share 2 | - | - | - | - | - | - |
| Announcement Date | 5/10/21 | 3/9/22 | 3/7/23 | 3/6/24 | - | - |
1SGD in Million2SGD
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 148.8 | 154.8 | 152.4 | 162.3 | 172.8 | 176.7 | 164.9 | 171.1 | 163.5 | 158.8 |
| EBITDA | - | - | - | - | 54.96 | 42.76 | - | - | - | - |
| EBIT 1 | 43.85 | 39.11 | 38.11 | 40.98 | 44.76 | 32.08 | 28.58 | 33.33 | 34.74 | 36.2 |
| Operating Margin | 29.47% | 25.27% | 25% | 25.25% | 25.9% | 18.16% | 17.32% | 19.48% | 21.25% | 22.79% |
| Earnings before Tax (EBT) | - | - | - | - | - | 32.96 | - | - | - | - |
| Net income | - | - | - | - | - | 25.01 | - | - | - | - |
| Net margin | - | - | - | - | - | 14.16% | - | - | - | - |
| EPS 2 | - | - | - | - | - | 0.1700 | 0.1900 | 0.2000 | 0.2200 | 0.2200 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/24/21 | 3/9/22 | 5/25/22 | 8/24/22 | 11/22/22 | 3/7/23 | 5/31/23 | 8/23/23 | 11/21/23 | 3/6/24 |
1SGD in Million2SGD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - |
| Net Cash position 1 | - | 274 | 351 | 408 | 617 | 727 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - |
| Free Cash Flow 1 | - | 83.2 | 140 | 125 | 126 | 132 |
| ROE (net income / shareholders' equity) | - | 36% | 24.3% | 18.5% | 15.6% | 16% |
| ROA (Net income/ Total Assets) | - | 25.2% | 19.8% | 15.5% | 13.8% | 13.8% |
| Assets 1 | - | 412.5 | 531.1 | 772.5 | 826.4 | 892.8 |
| Book Value Per Share 2 | - | 3.180 | 3.880 | 4.490 | 5.690 | 6.350 |
| Cash Flow per Share 2 | - | 0.8100 | 1.140 | 0.9500 | 1.250 | 1.430 |
| Capex 1 | - | 20.6 | 25.3 | 11.8 | 30.4 | 34.4 |
| Capex / Sales | - | 3.72% | 3.8% | 1.79% | 4.13% | 4.37% |
| Announcement Date | 5/10/21 | 3/9/22 | 3/7/23 | 3/6/24 | - | - |
1SGD in Million2SGD
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
OUTPERFORM
Number of Analysts
4
Last Close Price
9.646
SGD
Average target price
9.783
SGD
Spread / Average Target
+1.43%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +47.63% | 1.03B | |
| +5.67% | 35.9B | |
| +3.85% | 15.76B | |
| -6.94% | 9.06B | |
| +0.83% | 7.09B | |
| +13.89% | 5.54B | |
| -46.43% | 4.48B | |
| +7.43% | 2.9B | |
| -15.24% | 2.32B | |
| -2.02% | 2.29B |
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