Financials AUO Corporation OTC Markets

Equities

AUOTY

US0022554044

Electronic Equipment & Parts

Market Closed - OTC Markets Other stock markets 15:59:28 2024-05-10 EDT			5-day change	1st Jan Change
5.27 ^USD	-1.13%		-5.89%	-11.23%

04-30	Transcript : AUO Corporation, Q1 2024 Earnings Call, Apr 30, 2024
04-23	E Ink Holdings Inc. and AUO Enter into Strategic Partnership to Develop Large-Size Color ePaper Displays	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	95,617	132,989	219,154	114,910	139,172	134,188	-	-
Enterprise Value (EV) ¹	126,558	159,509	193,909	121,241	167,053	161,735	158,298	134,188
P/E ratio	-5.03 x	38.9 x	3.56 x	-6.28 x	-7.66 x	-53.6 x	18.2 x	6.97 x
Yield	-	2.14%	4.37%	-	-	2.7%	4.57%	7.43%
Capitalization / Revenue	0.36 x	0.49 x	0.59 x	0.47 x	0.56 x	0.49 x	0.46 x	0.41 x
EV / Revenue	0.47 x	0.59 x	0.52 x	0.49 x	0.67 x	0.59 x	0.54 x	0.41 x
EV / EBITDA	8.02 x	4.26 x	2 x	16.2 x	15.8 x	5.43 x	4.15 x	2.82 x
EV / FCF	-14.6 x	15.5 x	2.21 x	-13.5 x	-9.95 x	9.64 x	44.4 x	-
FCF Yield	-6.83%	6.44%	45.2%	-7.41%	-10.1%	10.4%	2.25%	-
Price to Book	0.55 x	0.73 x	0.94 x	0.71 x	0.88 x	0.85 x	0.84 x	-
Nbr of stocks (in thousands)	7,611,284	7,599,396	7,656,037	7,660,659	7,667,881	7,667,881	-	-
Reference price ²	12.56	17.50	28.62	15.00	18.15	17.50	17.50	17.50
Announcement Date	20-02-06	21-02-04	22-02-11	23-02-08	24-01-31	-	-	-

¹TWD in Million²TWD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	268,792	270,955	370,685	246,793	247,964	275,141	291,118	325,010
EBITDA ¹	15,790	37,481	96,740	7,496	10,544	29,795	38,132	47,515
EBIT ¹	-20,468	2,083	63,076	-23,970	-21,962	-4,526	6,770	20,650
Operating Margin	-7.61%	0.77%	17.02%	-9.71%	-8.86%	-1.64%	2.33%	6.35%
Earnings before Tax (EBT) ¹	-19,845	2,788	66,407	-19,506	-21,682	-1,483	8,682	20,658
Net income ¹	-19,185	3,376	61,331	-21,101	-18,203	-2,507	7,403	19,331
Net margin	-7.14%	1.25%	16.55%	-8.55%	-7.34%	-0.91%	2.54%	5.95%
EPS ²	-2.500	0.4500	8.050	-2.390	-2.370	-0.3263	0.9626	2.511
Free Cash Flow ¹	-8,645	10,269	87,683	-8,979	-16,793	16,782	3,569	-
FCF margin	-3.22%	3.79%	23.65%	-3.64%	-6.77%	6.1%	1.23%	-
FCF Conversion (EBITDA)	-	27.4%	90.64%	-	-	56.32%	9.36%	-
FCF Conversion (Net income)	-	304.18%	142.97%	-	-	-	48.21%	-
Dividend per Share ²	-	0.3750	1.250	-	-	0.4722	0.8000	1.300
Announcement Date	20-02-06	21-02-04	22-02-11	23-02-08	24-01-31	-	-	-

¹TWD in Million²TWD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	99,055	93,034	81,528	62,884	49,732	52,648	51,188	63,321	70,110	63,350	59,477	68,051	73,852	73,066	65,202
EBITDA ¹	28,818	18,560	13,304	3,256	-5,884	-3,179	-3,469	3,552	7,035	3,427	3,509	6,511	9,374	9,877	7,848
EBIT ¹	20,427	10,346	5,298	-4,645	-13,715	-10,909	-11,138	-4,420	-1,332	-5,070	-4,940	-1,438	1,234	698.3	63.19
Operating Margin	20.62%	11.12%	6.5%	-7.39%	-27.58%	-20.72%	-21.76%	-6.98%	-1.9%	-8%	-8.31%	-2.11%	1.67%	0.96%	0.1%
Earnings before Tax (EBT) ¹	20,891	12,057	6,015	-3,643	-11,401	-10,476	-11,293	-4,264	-764.5	-5,360	-3,315	-1,140	1,718	1,244	131.2
Net income ¹	19,310	10,655	5,164	-5,632	-10,426	-10,208	-10,911	-4,810	-975.3	-1,510	-3,260	-1,306	1,423	859.9	153.5
Net margin	19.49%	11.45%	6.33%	-8.96%	-20.96%	-19.39%	-21.31%	-7.6%	-1.39%	-2.38%	-5.48%	-1.92%	1.93%	1.18%	0.24%
EPS ²	2.512	1.400	0.6750	-0.7375	-1.230	-1.330	-1.420	-0.6300	-0.1300	-0.2000	-0.4582	-0.1762	0.1794	0.0882	-0.0811
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	-	-	0.3000	-	-
Announcement Date	21-11-11	22-02-11	22-04-26	22-07-28	22-10-26	23-02-08	23-05-12	23-07-26	23-11-13	24-01-31	-	-	-	-	-

¹TWD in Million²TWD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	30,942	26,520	-	6,331	27,881	27,547	24,110	-
Net Cash position ¹	-	-	25,245	-	-	-	-	-
Leverage (Debt/EBITDA)	1.96 x	0.7076 x	-	0.8446 x	2.644 x	0.9246 x	0.6323 x	-
Free Cash Flow ¹	-8,645	10,269	87,683	-8,979	-16,793	16,782	3,569	-
ROE (net income / shareholders' equity)	-10.1%	1.9%	29.6%	-10.1%	-10.6%	-1.81%	3.82%	-
ROA (Net income/ Total Assets)	-4.75%	0.84%	14.7%	-5.2%	-4.73%	-0.89%	1.28%	-
Assets ¹	403,733	402,456	416,040	405,827	385,156	281,727	580,622	-
Book Value Per Share ²	23.00	24.10	30.40	21.00	20.70	20.50	20.80	-
Cash Flow per Share ²	2.700	3.390	11.50	3.060	1.300	4.120	5.240	-
Capex ¹	29,376	15,478	17,038	35,950	26,787	28,995	26,994	-
Capex / Sales	10.93%	5.71%	4.6%	14.57%	10.8%	10.54%	9.27%	-
Announcement Date	20-02-06	21-02-04	22-02-11	23-02-08	24-01-31	-	-	-

¹TWD in Million²TWD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for AUO Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

17.5 TWD

Average target price

19.53 TWD

Spread / Average Target

+11.62%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Display Screens