Company Valuation: Da Hui Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 606.3 610.3 574.7 545.1 782.1 592.5
Change - 0.65% -5.83% -5.15% 43.48% -24.24%
Enterprise Value (EV) 1 519.2 630.8 529.7 460.9 651 496.9
Change - 21.51% -16.03% -12.98% 41.24% -23.67%
P/E 81.9x 26.8x 19.7x -19.4x 26.8x 13.3x
PBR 1.18x 1.16x 1.04x 1.18x 1.63x 1.18x
PEG - 0x 0.7x 0x -0x 0.3x
Capitalization / Revenue 0.98x 0.77x 0.62x 0.69x 0.88x 0.64x
EV / Revenue 0.84x 0.8x 0.57x 0.58x 0.73x 0.54x
EV / EBITDA 18.3x 11.4x 9.62x 13.1x 9.04x 5.73x
EV / EBIT 67.4x 20x 17.4x 34.6x 12.2x 7.2x
EV / FCF -16x -5.96x 7.18x 5x 30.8x -17.6x
FCF Yield -6.24% -16.8% 13.9% 20% 3.24% -5.69%
Dividend per Share 2 - 0.11 0.6 0.6 0.6 0.8
Rate of return - 0.71% 4.12% 4.35% 3.03% 5.33%
EPS 2 0.1875 0.5772 0.74 -0.71 0.74 1.13
Distribution rate - 19.1% 81.1% -84.5% 81.1% 70.8%
Net sales 1 617.8 788.2 923.4 790.6 892.3 920.3
EBITDA 1 28.36 55.12 55.04 35.24 72 86.75
EBIT 1 7.704 31.6 30.46 13.33 53.2 69.05
Net income 1 7.407 22.8 29.33 -28.02 29.42 44.86
Net Debt 1 -87.16 20.55 -45.01 -84.16 -131.1 -95.58
Reference price 2 15.35 15.45 14.55 13.80 19.80 15.00
Nbr of stocks (in thousands) 39,500 39,500 39,500 39,500 39,500 39,500
Announcement Date 3/30/21 3/30/22 3/30/23 3/29/24 3/27/25 3/16/26
1TWD in Million2TWD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 23.46M
20.36x1.38x10.65x1.85% 43.21B
12.21x0.65x5.44x3.73% 32.56B
15.46x0.63x4.65x3.77% 31.77B
10.2x0.62x8.12x1.44% 28.91B
13.6x2.48x8.7x4.34% 20.13B
10.98x0.51x5.03x2.98% 18.1B
12.09x1.06x6.01x4.15% 16.54B
27.73x1.1x11.51x0.58% 15.82B
27.39x2.53x15.07x1.11% 12.99B
Average 16.67x 1.22x 8.35x 2.66% 22.01B
Weighted average by Cap. 16.04x 1.12x 8.01x 2.71%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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