Company Valuation: Success Prime Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,053 936.7 899.7 1,185 1,569 1,305
Change - -11.07% -3.94% 31.65% 32.43% -16.84%
Enterprise Value (EV) 1 982.2 804.1 758.2 903.4 1,159 933.1
Change - -18.13% -5.71% 19.14% 28.34% -19.52%
P/E 17x 16.4x 11.5x 11.5x 11.8x 11.2x
PBR 1.3x 1.19x 1.11x 1.39x 1.76x 1.47x
PEG - -2x 0.3x 0.4x 0.4x -0.9x
Capitalization / Revenue 1.36x 1.42x 1.28x 1.55x 1.88x 1.5x
EV / Revenue 1.27x 1.21x 1.08x 1.18x 1.39x 1.07x
EV / EBITDA 10.8x 8.42x 6.87x 6.5x 7.07x 6x
EV / EBIT 13.7x 10.4x 7.98x 7.4x 7.76x 6.74x
EV / FCF 6.73x 7.74x 4.48x 4.71x 5.92x 5.9x
FCF Yield 14.8% 12.9% 22.3% 21.2% 16.9% 17%
Dividend per Share 2 4.5 3 3.3 4.68 5.68 4.5
Rate of return 8.04% 6.06% 6.94% 7.48% 6.85% 6.59%
EPS 2 3.29 3.02 4.15 5.46 7 6.1
Distribution rate 137% 99.3% 79.5% 85.7% 81.1% 73.8%
Net sales 1 776.4 661.9 702.3 764.8 835.8 870.8
EBITDA 1 90.72 95.5 110.4 139 163.9 155.4
EBIT 1 71.54 77.21 95.04 122 149.4 138.3
Net income 1 62.23 56.9 78.7 103.6 132.8 116.7
Net Debt 1 -71.06 -132.5 -141.5 -281.2 -409.2 -371.5
Reference price 2 56.00 49.50 47.55 62.60 82.90 68.30
Nbr of stocks (in thousands) 18,808 18,922 18,922 18,922 18,922 19,100
Announcement Date 3/19/21 3/23/22 3/22/23 3/18/24 3/10/25 3/10/26
1TWD in Million2TWD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 36.55M
15.52x0.95x6.53x2.44% 7.75B
13x0.66x4.49x-.--% 5.72B
18.88x2.86x9.3x4.47% 5.65B
900.75x10.15x98.1x - 4.58B
12.99x1.24x5.07x - 3.82B
12.2x - - - 2.23B
Average 162.22x 3.17x 24.70x 2.3% 4.26B
Weighted average by Cap. 151.40x 2.86x 21.72x 2.31%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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