Financials Voltronic Power Technology Corp.

Equities

6409

TW0006409006

Electrical Components & Equipment

End-of-day quote Taiwan S.E. 06:00:00 2024-05-09 pm EDT 5-day change 1st Jan Change
1,590 TWD +4.95% Intraday chart for Voltronic Power Technology Corp. +6.00% -7.02%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 59,561 97,931 135,063 135,593 150,026 139,492 - -
Enterprise Value (EV) 1 56,649 93,224 132,546 131,404 145,813 134,204 132,908 131,539
P/E ratio 27.8 x 44.6 x 57.3 x 30.4 x 41.4 x 40.4 x 31.4 x 28.6 x
Yield 3.24% 2.1% 1.52% 1.46% 2.08% 2.03% 2.31% 2.67%
Capitalization / Revenue 4.6 x 7.17 x 7.97 x 5.97 x 7.92 x 6.51 x 5.8 x 5.03 x
EV / Revenue 4.38 x 6.83 x 7.82 x 5.78 x 7.69 x 6.26 x 5.53 x 4.74 x
EV / EBITDA 20.7 x 31.4 x 41.1 x 23.4 x 32.4 x 28.8 x 22.9 x 20.6 x
EV / FCF 22.1 x 41.6 x 74.5 x 30.4 x 37.9 x 33 x 29.8 x 26.2 x
FCF Yield 4.53% 2.4% 1.34% 3.29% 2.64% 3.03% 3.36% 3.81%
Price to Book 12.2 x 18.2 x 23.7 x 16.3 x 17.9 x 17.7 x 14.2 x 12.7 x
Nbr of stocks (in thousands) 87,468 87,439 87,419 87,763 87,735 87,731 - -
Reference price 2 680.9 1,120 1,545 1,545 1,710 1,590 1,590 1,590
Announcement Date 2/26/20 2/24/21 2/24/22 2/24/23 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 12,936 13,653 16,957 22,725 18,951 21,434 24,056 27,748
EBITDA 1 2,735 2,969 3,224 5,615 4,500 4,655 5,814 6,387
EBIT 1 2,557 2,730 2,925 5,288 4,138 4,315 5,317 5,932
Operating Margin 19.77% 20% 17.25% 23.27% 21.83% 20.13% 22.1% 21.38%
Earnings before Tax (EBT) 1 2,616 2,650 2,890 5,403 4,382 4,479 5,082 5,914
Net income 1 2,131 2,197 2,359 4,433 3,623 3,688 4,183 4,850
Net margin 16.47% 16.09% 13.91% 19.51% 19.12% 17.2% 17.39% 17.48%
EPS 2 24.50 25.14 26.97 50.90 41.31 39.35 50.58 55.51
Free Cash Flow 1 2,567 2,239 1,778 4,330 3,851 4,061 4,460 5,012
FCF margin 19.84% 16.4% 10.49% 19.05% 20.32% 18.95% 18.54% 18.06%
FCF Conversion (EBITDA) 93.86% 75.42% 55.17% 77.11% 85.6% 87.24% 76.72% 78.46%
FCF Conversion (Net income) 120.45% 101.9% 75.38% 97.67% 106.32% 110.13% 106.63% 103.33%
Dividend per Share 2 22.09 23.50 23.50 22.50 35.50 32.20 36.70 42.40
Announcement Date 2/26/20 2/24/21 2/24/22 2/24/23 2/29/24 - - -
1TWD in Million2TWD
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 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 4,521 4,914 4,274 6,347 6,405 5,698 4,696 5,198 4,463 4,594 4,599 5,143 5,420 5,651 5,422
EBITDA - - - - - - - - - - - - - - -
EBIT 1 832.8 837.6 721.4 1,397 1,702 1,467 1,040 1,156 1,003 938.6 990.8 1,017 1,101 1,207 1,151
Operating Margin 18.42% 17.05% 16.88% 22.01% 26.58% 25.75% 22.15% 22.24% 22.47% 20.43% 21.55% 19.77% 20.31% 21.36% 21.23%
Earnings before Tax (EBT) 1 853.2 789.9 633.3 1,540 1,880 1,350 950.5 1,585 821.8 1,025 876.7 1,057 1,141 1,247 1,141
Net income 1 688 632 500.4 1,280 1,506 1,147 745.9 1,322 629.6 925 713.9 942 974.5 1,045 924
Net margin 15.22% 12.86% 11.71% 20.17% 23.51% 20.12% 15.89% 25.43% 14.11% 20.14% 15.52% 18.32% 17.98% 18.49% 17.04%
EPS 2 7.870 7.220 5.720 14.66 17.23 13.15 8.510 15.11 7.190 10.53 8.140 9.640 10.40 11.37 10.79
Dividend per Share 2 - - - - - - - - - - - - 35.56 - -
Announcement Date 11/4/21 2/24/22 5/5/22 8/11/22 11/10/22 2/24/23 5/12/23 8/10/23 11/9/23 2/29/24 5/9/24 - - - -
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 2,911 4,707 2,517 4,189 4,213 5,288 6,584 7,953
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 2,567 2,239 1,778 4,330 3,851 4,061 4,461 5,012
ROE (net income / shareholders' equity) 45.7% 43% 42.7% 63.1% 43.4% 43.1% 43.1% 47.7%
ROA (Net income/ Total Assets) 22.9% 19.7% 18.6% 30.1% 23.5% 23.5% 25.3% 25.9%
Assets 1 9,313 11,131 12,653 14,712 15,421 15,720 16,549 18,726
Book Value Per Share 2 55.80 61.50 65.30 95.10 95.30 89.80 112.0 125.0
Cash Flow per Share 2 34.50 30.30 26.30 66.10 46.60 49.80 54.00 59.80
Capex 1 431 387 520 1,451 232 420 329 375
Capex / Sales 3.33% 2.84% 3.07% 6.38% 1.22% 1.96% 1.37% 1.35%
Announcement Date 2/26/20 2/24/21 2/24/22 2/24/23 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

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
1,590 TWD
Average target price
1,772 TWD
Spread / Average Target
+11.48%
Consensus
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