Company Valuation: All Ring Tech Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,898 11,499 38,242 35,021 127,548 - -
Change - 134.79% 232.56% -8.42% 264.21% - -
Enterprise Value (EV) 1 4,898 11,499 34,996 31,178 123,115 122,404 121,465
Change - 134.79% 204.33% -10.91% 294.88% -0.58% -0.77%
P/E 10.4x 84.9x 27.9x 23.7x 47.4x 31.8x 23.3x
PBR - - 5.98x 4.8x 12.9x 10.6x 8.49x
PEG - -1.2x 0x 3.56x 0.6x 0.7x 0.6x
Capitalization / Revenue - 9.54x 6.91x 6.53x 14x 9.17x 7.26x
EV / Revenue - 9.54x 6.32x 5.81x 13.5x 8.8x 6.92x
EV / EBITDA - 89.4x 23.6x 18.6x 40.5x 24.5x 18.4x
EV / EBIT - 135x 24.5x 19.4x 42.1x 25.2x 19.1x
EV / FCF - - 49.7x 20.9x 50.1x 36.8x -
FCF Yield - - 2.01% 4.78% 2% 2.72% -
Dividend per Share 2 - - 10.2 11.79 19.9 27.38 37.96
Rate of return - - 2.54% 3.24% 1.52% 2.09% 2.9%
EPS 2 5.86 1.66 14.42 15.38 27.65 41.14 56.25
Distribution rate - - 70.7% 76.6% 72% 66.6% 67.5%
Net sales 1 - 1,205 5,535 5,366 9,141 13,905 17,560
EBITDA 1 - 128.7 1,483 1,679 3,042 4,999 6,616
EBIT 1 - 85.42 1,427 1,611 2,926 4,854 6,367
Net income 1 499 138.2 1,311 1,485 2,782 4,260 5,508
Net Debt 1 - - -3,247 -3,843 -4,433 -5,144 -6,083
Reference price 2 60.80 141.00 402.00 364.00 1,310.00 1,310.00 1,310.00
Nbr of stocks (in thousands) 80,556 81,556 95,130 96,211 97,365 - -
Announcement Date 3/13/23 3/26/24 2/27/25 2/10/26 - - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
47.37x13.47x40.47x1.52% 4B
41.53x14.02x31.84x0.56% 697B
38.85x11.79x34.08x0.38% 406B
34.44x11.47x28.2x0.35% 405B
36.53x14.3x29.67x0.49% 256B
33.37x7.55x22.99x1.46% 166B
36.41x13.61x26.44x0.26% 156B
36.57x3.95x18.19x1.41% 94.8B
60.98x9.05x48.16x0.15% 68.02B
45.39x12.09x34.1x0.13% 63.01B
Average 41.14x 11.13x 31.41x 0.67% 231.63B
Weighted average by Cap. 38.82x 12.11x 30.36x 0.54%

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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  4. Valuation All Ring Tech Co., Ltd.