Company Valuation: Tianma Microelectronics Co., Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 32,000 21,284 26,175 22,193 22,193 16,466 -
Change - -33.49% 22.98% -15.21% 0% -25.81% -
Enterprise Value (EV) 1 57,835 47,810 55,627 50,357 46,638 21,331 17,195
Change - -17.33% 16.35% -9.47% -7.39% -54.26% -19.39%
P/E 20.7x 189x -12.5x -33.2x 132x 32.2x 27x
PBR 0.92x 0.71x 0.94x 0.81x 0.81x 0.55x 0.54x
PEG - -2x 0x 0.5x -1x 0x 1.4x
Capitalization / Revenue 1.01x 0.68x 0.81x 0.66x 0.61x 0.4x 0.35x
EV / Revenue 1.82x 1.52x 1.72x 1.5x 1.29x 0.52x 0.37x
EV / EBITDA 10.8x 11.5x 18.5x 9.26x 7.65x 4.66x 3.96x
EV / EBIT - - - - - - -
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 2 0.07 - - - - 0.02 0.03
Rate of return 0.54% - - - - 0.3% 0.44%
EPS 2 0.6276 0.0458 -0.8535 -0.272 0.0682 0.21 0.25
Distribution rate 11.2% - - - - 9.52% 12%
Net sales 1 31,829 31,447 32,271 33,494 36,227 41,371 46,887
EBITDA 1 5,374 4,171 3,015 5,439 6,099 4,574 4,338
EBIT 1,623 129 -1,926 -449 268.7 - -
Net income 1 1,542 112.5 -2,098 -668.6 167.4 526.9 616.8
Net Debt 1 25,835 26,526 29,452 28,163 24,444 4,865 729.5
Reference price 2 13.020 8.660 10.650 9.030 9.030 6.760 6.760
Nbr of stocks (in thousands) 2,457,748 2,457,748 2,457,748 2,457,748 2,457,748 2,435,776 -
Announcement Date 3/14/22 3/14/23 3/14/24 3/14/25 3/13/26 - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.19x0.52x4.66x0.3% 2.44B
64.09x7.72x26.57x0.7% 143B
28.4x1.24x6.04x1.19% 33.16B
14.52x0.99x5.34x3.48% 14.66B
24.9x1.17x7.45x2.92% 11.76B
15.68x5.26x13.8x3.02% 6.99B
24.37x0.77x7.99x1.4% 5.74B
25.78x0.61x3.11x-.--% 3.47B
Average 28.74x 2.28x 9.37x 1.63% 27.62B
Weighted average by Cap. 49.84x 5.50x 19.57x 1.16%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Tianma Microelectronics Co., Ltd.