Company Valuation: Delta Electronics, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 714,324 744,196 814,330 1,118,242 2,501,434 4,948,320 - -
Change - 4.18% 9.42% 37.32% 123.69% 97.82% - -
Enterprise Value (EV) 1 711,695 729,063 784,169 1,061,228 2,424,290 4,846,240 4,801,408 4,744,865
Change - 2.44% 7.56% 35.33% 128.44% 99.9% -0.93% -1.18%
P/E 26.8x 22.9x 24.4x 31.7x 41.7x 46.5x 29.6x 20.2x
PBR 4.61x 3.98x 4.09x 4.86x 9.33x 14.3x 10.7x 7.87x
PEG - 1x 8.98x 5.82x 0.6x 0.6x 0.5x 0.4x
Capitalization / Revenue 2.27x 1.94x 2.03x 2.66x 4.51x 6.37x 4.52x 3.24x
EV / Revenue 2.26x 1.9x 1.95x 2.52x 4.37x 6.24x 4.38x 3.1x
EV / EBITDA 14.7x 12.1x 12.5x 14.6x 21.7x 27.9x 17.9x 11.8x
EV / EBIT 22.7x 17.6x 19.1x 22.3x 28.9x 34.5x 21x 13.3x
EV / FCF 134x 29.5x 18.1x 26.9x 46.2x 130x 74x 26.2x
FCF Yield 0.74% 3.39% 5.52% 3.72% 2.17% 0.77% 1.35% 3.81%
Dividend per Share 2 5.5 9.84 6.43 7 11.6 20.28 33.99 54.29
Rate of return 2% 3.43% 2.05% 1.63% 1.2% 1.06% 1.78% 2.85%
EPS 2 10.27 12.52 12.86 13.56 23.08 40.98 64.42 94.11
Distribution rate 53.6% 78.6% 50% 51.6% 50.3% 49.5% 52.8% 57.7%
Net sales 1 314,671 384,443 401,227 421,148 554,885 777,026 1,095,603 1,528,349
EBITDA 1 48,516 60,375 62,540 72,668 111,771 173,669 268,006 400,709
EBIT 1 31,365 41,439 40,950 47,652 83,932 140,533 229,010 356,594
Net income 1 26,796 32,666 33,393 35,229 60,108 106,526 168,734 243,278
Net Debt 1 -2,630 -15,133 -30,161 -57,015 -77,144 -102,080 -146,912 -203,455
Reference price 2 275.00 286.50 313.50 430.50 963.00 1,905.00 1,905.00 1,905.00
Nbr of stocks (in thousands) 2,597,543 2,597,543 2,597,543 2,597,543 2,597,543 2,597,543 - -
Announcement Date 25/2/22 23/2/23 1/3/24 26/2/25 26/2/26 - - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
46.49x6.24x27.91x1.06% 155B
24.99x2.98x16.25x2.06% 235B
14.05x1.74x7.85x3.64% 203B
30.75x3.94x18.19x1.59% 185B
38.9x5.74x24.1x1.01% 170B
30.36x4.36x21.38x0.89% 101B
94.48x11.71x66.87x0.33% 97.45B
40.73x6.69x26.87x0.1% 94.75B
31.71x3.94x21.16x1.06% 91.93B
32.48x5.23x18.22x1.39% 88.45B
Average 38.50x 5.26x 24.88x 1.31% 142.2B
Weighted average by Cap. 35.27x 4.76x 22.49x 1.55%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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