Financials Wuxi ETEK Microelectronics Co.,Ltd.

Equities

688601

CNE1000050Y5

Semiconductors

End-of-day quote Shanghai S.E. 06:00:00 2024-05-20 pm EDT 5-day change 1st Jan Change
42.1 CNY +2.28% Intraday chart for Wuxi ETEK Microelectronics Co.,Ltd. +5.57% -19.64%

Valuation

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Capitalization 1 9,715 5,053 7,004 5,628 - -
Enterprise Value (EV) 1 9,715 4,277 6,078 4,643 4,542 5,628
P/E ratio 53.5 x 34.6 x 34.9 x 20.9 x 17 x 14.8 x
Yield 0.53% 0.89% 1.15% 0.91% 1.27% 1.57%
Capitalization / Revenue 12.6 x 6.58 x 7.9 x 5.22 x 4.45 x 3.96 x
EV / Revenue 12.6 x 5.57 x 6.85 x 4.3 x 3.59 x 3.96 x
EV / EBITDA - 25.2 x 26.6 x 21.3 x 17.1 x -
EV / FCF 138 x 51.1 x 31.2 x 23.2 x 16.6 x 18.9 x
FCF Yield 0.72% 1.96% 3.21% 4.31% 6.03% 5.29%
Price to Book 10 x 4.59 x 5.56 x 3.83 x 3.3 x 3.12 x
Nbr of stocks (in thousands) 133,504 133,504 133,693 133,693 - -
Reference price 2 72.77 37.85 52.39 42.10 42.10 42.10
Announcement Date 2/25/22 2/27/23 2/25/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 - 773.6 767.5 886.8 1,079 1,266 1,422
EBITDA 1 - - 169.8 228.2 217.7 265.1 -
EBIT 1 - 169.9 159.5 217 264.1 326 416.5
Operating Margin - 21.97% 20.78% 24.47% 24.49% 25.75% 29.29%
Earnings before Tax (EBT) 1 - 172.9 159.5 217.6 293 362.5 417
Net income 1 66.95 159.2 146 200.5 269 330.5 380.5
Net margin - 20.59% 19.02% 22.61% 24.94% 26.11% 26.76%
EPS 2 - 1.361 1.094 1.500 2.010 2.470 2.845
Free Cash Flow 1 - 70.39 83.73 195 200 274 298
FCF margin - 9.1% 10.91% 21.99% 18.54% 21.64% 20.96%
FCF Conversion (EBITDA) - - 49.3% 85.46% 91.89% 103.34% -
FCF Conversion (Net income) - 44.21% 57.36% 97.27% 74.35% 82.9% 78.32%
Dividend per Share 2 - 0.3835 0.3356 0.6000 0.3850 0.5350 0.6600
Announcement Date 6/6/21 2/25/22 2/27/23 2/25/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3
Net sales 1 264.9 207.1 143 152.5 178.4 195 261.7 251.6 220.5 249.4 277.4
EBITDA - - - - - - - - - - -
EBIT 1 72.74 71.07 30.18 -14.49 31.41 31.88 53.73 88.72 56.92 49.47 52.51
Operating Margin 27.46% 34.31% 21.1% -9.51% 17.6% 16.35% 20.53% 35.26% 25.82% 19.83% 18.93%
Earnings before Tax (EBT) - - - - - - - - - - -
Net income - - - - - - - - - - -
Net margin - - - - - - - - - - -
EPS - - - - - - - - - - -
Dividend per Share - - - - - - - - - - -
Announcement Date 4/27/22 8/26/22 10/28/22 2/27/23 4/28/23 8/28/23 10/30/23 2/25/24 4/29/24 - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - -
Net Cash position 1 - - 775 926 985 1,086 -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 - 70.4 83.7 195 200 274 298
ROE (net income / shareholders' equity) - 24.2% 14.1% 17% 18.3% 19.4% 21.5%
ROA (Net income/ Total Assets) - 18.5% - - 16.3% 17.9% 21.2%
Assets 1 - 860.9 - - 1,650 1,846 1,795
Book Value Per Share 2 - 7.280 8.250 9.430 11.00 12.80 13.50
Cash Flow per Share 2 - 0.6200 - - 1.560 2.090 2.570
Capex 1 - 12.3 9.35 18.9 27 27 25
Capex / Sales - 1.6% 1.22% 2.13% 2.5% 2.13% 1.76%
Announcement Date 6/6/21 2/25/22 2/27/23 2/25/24 - - -
1CNY in Million2CNY
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
3
Last Close Price
42.1 CNY
Average target price
38.4 CNY
Spread / Average Target
-8.79%
Consensus

Quarterly revenue - Rate of surprise

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