Company Valuation: Kingstate Electronics Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,019 1,759 1,735 2,639 2,504 1,879
Change - -12.9% -1.34% 52.12% -5.13% -24.94%
Enterprise Value (EV) 1 1,849 1,617 1,203 1,695 1,387 648.3
Change - -12.53% -25.61% 40.89% -18.17% -53.26%
P/E 13x 12.5x 8.25x 9.35x 10.4x 15.9x
PBR 1.97x 1.5x 1.34x 1.83x 1.59x 1.21x
PEG - -0.7x 0.2x 0.3x -0.7x -0.3x
Capitalization / Revenue 0.6x 0.41x 0.42x 0.74x 0.68x 0.59x
EV / Revenue 0.55x 0.38x 0.29x 0.48x 0.38x 0.2x
EV / EBITDA 7.4x 8.97x 3.96x 4.79x 5.11x 3.72x
EV / EBIT 8.86x 11.4x 4.57x 5.37x 6.04x 4.6x
EV / FCF -104x -46.8x 3.33x 4.05x 9.09x 3.27x
FCF Yield -0.96% -2.14% 30% 24.7% 11% 30.6%
Dividend per Share 2 2 1.8 2.2 2.5 2.5 1.5
Rate of return 5.34% 6.03% 7.47% 5.58% 5.88% 4.7%
EPS 2 2.89 2.38 3.57 4.79 4.08 2.01
Distribution rate 69.2% 75.6% 61.6% 52.2% 61.3% 74.6%
Net sales 1 3,390 4,263 4,147 3,553 3,676 3,190
EBITDA 1 249.7 180.3 303.9 353.5 271.4 174.1
EBIT 1 208.6 142.4 263.1 315.5 229.6 140.9
Net income 1 156.4 131.3 212.1 284.1 241.7 119.1
Net Debt 1 -170.2 -141.3 -532 -944.5 -1,117 -1,231
Reference price 2 37.45 29.85 29.45 44.80 42.50 31.90
Nbr of stocks (in thousands) 53,917 58,917 58,917 58,917 58,917 58,917
Announcement Date 29/3/21 18/3/22 13/3/23 22/3/24 17/3/25 13/3/26
1TWD in Million2TWD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 64.61M
33.08x6.16x18.8x0.68% 208B
57.26x7.16x24.55x0.76% 132B
34.5x12.27x22.4x0.8% 124B
13.5x0.31x6.8x3.72% 111B
38.91x6.37x20.82x0.9% 90.94B
72.23x7.74x35.81x0.19% 82.3B
25.33x9.09x18.46x0.5% 80.86B
19.41x3.27x12.52x1.38% 61.11B
17.64x1.05x11.79x0.73% 59.59B
Average 34.65x 5.93x 19.11x 1.07% 95.01B
Weighted average by Cap. 35.80x 6.32x 19.47x 1.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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