Company Valuation: ASUSTeK Computer Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 279,278 199,431 363,581 457,540 407,033 761,329 - -
Change - -28.59% 82.31% 25.84% -11.04% 87.04% - -
Enterprise Value (EV) 1 220,217 178,961 300,755 385,131 340,378 711,593 710,683 696,570
Change - -18.73% 68.06% 28.05% -11.62% 109.06% -0.13% -1.99%
P/E 6.35x 13.6x 22.9x 14.6x 9.21x 13.3x 13.5x 13x
PBR 1.2x 0.94x 1.52x 1.7x 1.52x 2.56x 2.45x 2.22x
PEG - -0.2x 2.87x 0.1x 0.2x 0.4x -8.95x 3.82x
Capitalization / Revenue 0.52x 0.37x 0.75x 0.78x 0.55x 0.74x 0.63x 0.59x
EV / Revenue 0.41x 0.33x 0.62x 0.66x 0.46x 0.7x 0.59x 0.54x
EV / EBITDA 4.16x 11.5x 21.6x 11.9x 7.96x 10.4x 10.4x 10.1x
EV / EBIT 4.46x 13.8x 26.9x 13x 8.58x 11.2x 11.5x 10.9x
EV / FCF 7.22x -10.4x 5.97x 64.6x 12.1x -25.1x 51.4x 15x
FCF Yield 13.9% -9.64% 16.8% 1.55% 8.25% -3.98% 1.94% 6.68%
Dividend per Share 2 42 15 17 34 42 51.93 55.32 57.3
Rate of return 11.2% 5.59% 3.47% 5.52% 7.66% 5.07% 5.4% 5.59%
EPS 2 59.21 19.78 21.36 42.3 59.51 77.25 76.09 78.68
Distribution rate 70.9% 75.8% 79.6% 80.4% 70.6% 67.2% 72.7% 72.8%
Net sales 1 535,239 537,192 482,314 587,087 738,905 1,022,829 1,211,219 1,280,533
EBITDA 1 52,914 15,603 13,935 32,489 42,773 68,424 68,505 68,867
EBIT 1 49,326 12,982 11,164 29,595 39,656 63,422 61,865 63,877
Net income 1 44,550 14,691 15,928 31,394 44,558 58,268 57,659 57,091
Net Debt 1 -59,061 -20,470 -62,826 -72,410 -66,654 -49,737 -50,646 -64,759
Reference price 2 376.00 268.50 489.50 616.00 548.00 1,025.00 1,025.00 1,025.00
Nbr of stocks (in thousands) 742,760 742,760 742,760 742,760 742,760 742,760 - -
Announcement Date 3/16/22 3/12/23 3/15/24 3/11/25 3/10/26 - - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.27x0.7x10.4x5.07% 24.06B
21.43x1.84x14.56x0.48% 339B
24.74x9.98x17.69x0.35% 192B
18.41x1.79x9.08x1.09% 69.03B
17.61x0.45x8.16x1.82% 51.26B
34.77x6.07x20.67x1.19% 44.29B
39.9x24.48x30.32x1.12% 41.75B
13.15x0.58x7.05x3.67% 29.43B
28.66x2.96x19.08x2.57% 22.09B
16.53x0.31x9.16x0.73% 21B
Average 22.85x 4.91x 14.62x 1.81% 83.41B
Weighted average by Cap. 22.88x 4.90x 15.15x 0.96%

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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