Company Valuation: Primax Electronics Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 25,813 25,435 31,343 35,397 36,186 31,852 -
Change - -1.47% 23.23% 12.93% 2.23% -11.98% -
Enterprise Value (EV) 1 24,466 20,104 21,903 24,143 28,018 23,019 22,294
Change - -17.83% 8.95% 10.23% 16.05% -17.84% -3.15%
P/E 11.1x 9.22x 12.3x 13.5x 13.5x 10.8x 10.2x
PBR 1.82x 1.56x 1.84x 1.78x 1.75x 1.41x 1.48x
PEG - 0.5x -1.42x 6.75x 7.57x 1.19x 1.69x
Capitalization / Revenue 0.36x 0.32x 0.52x 0.61x 0.6x 0.49x 0.45x
EV / Revenue 0.34x 0.25x 0.36x 0.41x 0.47x 0.35x 0.32x
EV / EBITDA 5.15x 3.84x 4.7x 5.54x 6.6x 5.39x 4.45x
EV / EBIT 8.7x 6.01x 7.99x 8.84x 9.86x 7.15x 6.82x
EV / FCF -17.8x 4.72x 3.56x 5.68x 32.3x 8.92x 6.97x
FCF Yield -5.6% 21.2% 28.1% 17.6% 3.1% 11.2% 14.3%
Dividend per Share 2 3.1 3.9 4 4.2 4.568 4.33 5.22
Rate of return 5.47% 7.03% 5.91% 5.53% 5.95% 6.41% 7.73%
EPS 2 5.09 6.02 5.5 5.61 5.71 6.23 6.605
Distribution rate 60.9% 64.8% 72.7% 74.9% 80% 69.5% 79%
Net sales 1 71,650 79,241 60,488 58,244 60,182 65,241 70,093
EBITDA 1 4,754 5,232 4,656 4,354 4,245 4,268 5,013
EBIT 1 2,813 3,345 2,743 2,731 2,842 3,218 3,268
Net income 1 2,298 2,743 2,485 2,557 2,627 2,934 3,044
Net Debt 1 -1,347 -5,332 -9,440 -11,254 -8,168 -8,833 -9,558
Reference price 2 56.70 55.50 67.70 76.00 76.80 67.50 67.50
Nbr of stocks (in thousands) 455,263 458,289 462,974 465,745 471,175 471,881 -
Announcement Date 25/2/22 24/2/23 26/2/24 17/2/25 26/2/26 - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.83x0.35x5.39x6.41% 989M
15.8x0.63x5.79x2.75% 5.71B
22.99x4.02x16.12x1.86% 4.46B
11.57x0.6x3.8x6.85% 2.38B
14.02x - - 4.31% 651M
Average 15.05x 1.40x 7.78x 4.44% 2.84B
Weighted average by Cap. 16.92x 1.72x 8.81x 3.49%

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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