Company Valuation: Azion Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 694.4 693.9 573 1,643 1,163 1,880
Change - -0.06% -17.43% 186.72% -29.22% 61.72%
Enterprise Value (EV) 1 654.5 617.2 421.8 1,476 1,054 1,810
Change - -5.7% -31.66% 249.95% -28.61% 71.76%
P/E 14.1x 15.5x 15.1x 21.5x 16.2x 29.7x
PBR 1.33x 1.27x 1.07x 2.78x 1.92x 3.1x
PEG - -1.4x -1x 0.2x -2.67x -2.5x
Capitalization / Revenue 0.94x 1.1x 1.14x 1.86x 1.54x 2.08x
EV / Revenue 0.89x 0.98x 0.84x 1.67x 1.4x 2x
EV / EBITDA 13.1x 16.2x 14.9x 16.7x 18.5x 27.2x
EV / EBIT 13.5x 16.9x 16.1x 17.3x 19.8x 29x
EV / FCF 4.67x -46.9x 23.5x 8.08x -25.2x 18.4x
FCF Yield 21.4% -2.13% 4.25% 12.4% -3.97% 5.43%
Dividend per Share 2 0.8104 1.001 0.751 1.2 1.38 1.23
Rate of return 5.21% 6.59% 5.98% 3.4% 5.53% 3.05%
EPS 2 1.1 0.98 0.8299 1.639 1.54 1.36
Distribution rate 73.7% 102% 90.5% 73.2% 89.6% 90.4%
Net sales 1 738 631.8 504.5 885 754.6 903.9
EBITDA 1 49.77 38.09 28.34 88.39 57.02 66.48
EBIT 1 48.52 36.55 26.16 85.21 53.14 62.38
Net income 1 49.82 44.74 37.89 76.03 71.96 63.47
Net Debt 1 -39.9 -76.76 -151.2 -166.7 -109 -70.51
Reference price 2 15.55 15.20 12.55 35.25 24.95 40.35
Nbr of stocks (in thousands) 44,654 45,654 45,654 46,604 46,604 46,604
Announcement Date 3/29/21 3/21/22 3/30/23 3/29/24 3/26/25 3/27/26
1TWD in Million2TWD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 41.65M
23.13x3.77x13.16x2.87% 222B
14.09x1.55x8.16x3.41% 116B
-114.74x18.24x105.52x-.--% 114B
15.17x2.77x10.47x5.42% 88.66B
20.92x5.47x13.43x2.72% 63.28B
14.99x2.19x9.28x5.2% 48.47B
22.03x1.81x11.13x1.37% 42.34B
21.31x1.62x10.27x0.87% 40.69B
18.17x2.3x11.01x4.81% 37.26B
Average 3.90x 4.41x 21.38x 2.96% 77.24B
Weighted average by Cap. -0.52x 5.20x 25.11x 2.86%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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