Company Valuation: IBASE Technology Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 6,651 6,834 12,913 14,967 14,597 8,585
Change - 2.75% 88.95% 15.91% -2.48% -41.19%
Enterprise Value (EV) 1 8,257 8,077 14,541 15,578 15,803 9,758
Change - -2.18% 80.04% 7.13% 1.44% -38.25%
P/E 52.3x 17x 9.08x 17.3x 19.3x 30.7x
PBR 1.32x 1.4x 2.15x 2.1x 1.91x 1.19x
PEG - 0x 0x -0.4x -1.1x -0.5x
Capitalization / Revenue 1.54x 1.2x 1.91x 2.5x 2.82x 1.6x
EV / Revenue 1.92x 1.42x 2.15x 2.6x 3.05x 1.82x
EV / EBITDA 250x 33x 13.1x 25.6x 53x 57.9x
EV / EBIT -208x 51.7x 14.6x 34.2x 145x -720x
EV / FCF -6.29x -302x -12.9x 43.6x -39.2x 17.3x
FCF Yield -15.9% -0.33% -7.77% 2.29% -2.55% 5.79%
Dividend per Share 2 - 2.18 5.584 4.18 3.2 -
Rate of return - 5.35% 7.22% 5.18% 4.34% -
EPS 2 0.74 2.394 8.511 4.665 3.82 1.403
Distribution rate - 91.1% 65.6% 89.6% 83.8% -
Net sales 1 4,308 5,707 6,775 5,997 5,180 5,358
EBITDA 1 32.97 244.5 1,109 609.3 298.4 168.7
EBIT 1 -39.69 156.3 993.1 455.3 109.3 -13.55
Net income 1 88.41 312.5 1,135 715.9 588.3 210.8
Net Debt 1 1,606 1,243 1,628 611.1 1,206 1,173
Reference price 2 38.70 40.75 77.30 80.70 73.70 43.10
Nbr of stocks (in thousands) 171,872 167,712 167,056 185,469 198,058 199,178
Announcement Date 3/30/21 3/29/22 3/31/23 3/14/24 3/13/25 3/10/26
1TWD in Million2TWD
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 345M
22.83x13.04x19.73x0.33% 5,516B
22.26x10.91x14.79x1.13% 1,953B
38.74x16.28x23.73x0.73% 1,699B
13.19x8.01x9.67x0.06% 1,082B
4.57x2.83x3.4x0.23% 857B
79.62x14.41x54.17x-.--% 745B
-39.74x8x22.27x-.--% 482B
193.74x42.07x85.82x-.--% 259B
Average 41.90x 14.44x 29.20x 0.31% 1,399B
Weighted average by Cap. 27.30x 12.51x 21.02x 0.44%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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