Company Valuation: Apex Science & Engineering Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,605 2,129 2,040 2,380 2,315 2,482
Change - -18.25% -4.19% 16.65% -2.73% 7.23%
Enterprise Value (EV) 1 4,906 4,623 4,721 5,468 6,004 4,472
Change - -5.78% 2.13% 15.81% 9.81% -25.51%
P/E 8.38x 21.1x 9.9x 11.6x 11.7x 11.1x
PBR 0.85x 0.71x 0.63x 0.74x 0.68x 0.7x
PEG - -0.3x 0x 11.37x -2.97x 0.9x
Capitalization / Revenue 0.5x 0.59x 0.69x 0.68x 0.87x 0.73x
EV / Revenue 0.94x 1.28x 1.6x 1.57x 2.26x 1.31x
EV / EBITDA 16.8x 63.3x 22.2x 24x 30.5x 16.5x
EV / EBIT 17.1x 68x 22.8x 24.7x 31.5x 17x
EV / FCF 10.6x 102x -20.6x -12x -7.7x 2.85x
FCF Yield 9.43% 0.98% -4.84% -8.33% -13% 35%
Dividend per Share 2 0.7689 0.2424 0.3845 0.3922 0.5 0.6
Rate of return 6.08% 2.35% 3.88% 3.36% 4.41% 4.98%
EPS 2 1.509 0.4902 0.9996 1.01 0.97 1.09
Distribution rate 51% 49.4% 38.5% 38.8% 51.5% 55%
Net sales 1 5,218 3,615 2,952 3,484 2,660 3,420
EBITDA 1 292.2 73.01 212.4 227.4 196.8 270.2
EBIT 1 286.3 67.96 207 221.7 190.6 262.8
Net income 1 315.7 102.7 206.9 204.8 199.7 224.2
Net Debt 1 2,302 2,493 2,681 3,088 3,690 1,990
Reference price 2 12.64 10.33 9.90 11.67 11.35 12.05
Nbr of stocks (in thousands) 206,065 206,065 206,065 203,985 203,945 205,985
Announcement Date 3/31/21 3/30/22 3/16/23 3/15/24 3/17/25 3/16/26
1TWD in Million2TWD
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 67.47M
15.68x4.94x13.3x3.23% 44.6B
8.45x1.48x7.55x4.18% 29.72B
19.91x4.14x16.91x1.25% 29.33B
5.58x0.6x1.23x9.03% 26.66B
14.34x3.11x14.91x2.45% 25.48B
9.07x2.34x7.2x3.85% 21.38B
14.8x6.76x18.15x1.45% 20.76B
Average 12.55x 3.34x 11.32x 3.63% 24.75B
Weighted average by Cap. 12.88x 3.39x 11.40x 3.64%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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