Company Valuation: Axis Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,731 2,034 1,878 2,857 2,428 1,890
Change - 17.5% -7.67% 52.11% -15.01% -22.17%
Enterprise Value (EV) 1 1,118 1,368 1,124 2,004 1,705 1,195
Change - 22.36% -17.85% 78.38% -14.92% -29.95%
P/E 12.2x 8.85x 10.4x 11.2x 13.5x 20.4x
PBR 1.83x 1.88x 1.68x 2.31x 1.94x 1.7x
PEG - 0.1x -0.5x 0.3x -0.5x -0.4x
Capitalization / Revenue 1.71x 1.68x 1.17x 2.1x 2.34x 1.89x
EV / Revenue 1.1x 1.13x 0.7x 1.47x 1.65x 1.19x
EV / EBITDA 8.54x 11.1x 4.22x 11.4x 16.8x 13.9x
EV / EBIT 9.22x 12.1x 4.38x 12.1x 18.8x 17x
EV / FCF -1,055x 42.3x 5.68x 26.2x 4.92x 8.82x
FCF Yield -0.09% 2.36% 17.6% 3.81% 20.3% 11.3%
Dividend per Share 2 2.7 3.6 3 4.2 4 1.8
Rate of return 7.27% 8.25% 7.44% 6.85% 7.68% 4.44%
EPS 2 3.05 4.93 3.89 5.47 3.85 1.99
Distribution rate 88.5% 73% 77.1% 76.8% 104% 90.5%
Net sales 1 1,015 1,212 1,610 1,359 1,036 1,002
EBITDA 1 130.9 122.8 266 175.6 101.4 85.82
EBIT 1 121.2 113.3 256.4 165.2 90.91 70.23
Net income 1 144.7 233.4 183.6 257.3 180.5 93.2
Net Debt 1 -613.4 -666.4 -754.3 -852.2 -722.6 -695.1
Reference price 2 37.15 43.65 40.30 61.30 52.10 40.55
Nbr of stocks (in thousands) 46,601 46,601 46,601 46,601 46,601 46,601
Announcement Date 3/26/21 3/21/22 3/17/23 3/8/24 3/10/25 3/6/26
1TWD in Million2TWD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 92.57M
31.26x5.8x17.76x0.64% 194B
13.58x0.31x6.86x3.7% 112B
38.27x6.17x20.01x0.94% 84.17B
25.43x8.93x18.94x0.49% 82.68B
68.96x7.29x34.02x0.21% 76B
20.61x1.2x13.76x0.64% 68.16B
18.47x3.14x11.94x1.44% 58.67B
37.57x5.29x19.96x0.02% 54.68B
65.05x29.24x64.99x0.4% 42.73B
Average 35.47x 7.49x 23.14x 0.94% 77.37B
Weighted average by Cap. 32.95x 6.18x 20.12x 1.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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