Company Valuation: Wistron Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 82,917 83,704 280,126 300,384 478,652 586,720 - -
Change - 0.95% 234.66% 7.23% 59.35% 22.58% - -
Enterprise Value (EV) 1 177,741 157,562 331,857 350,029 664,748 1,057,719 1,006,272 969,516
Change - -11.35% 110.62% 5.48% 89.91% 59.12% -4.86% -3.65%
P/E 8.01x 7.66x 24.2x 17x 17.9x 11x 7.86x 5.84x
PBR 1.06x 0.89x 2.77x 2.45x 2.7x 2.57x 1.99x 1.52x
PEG - 1.39x 3.87x 0.3x 0.5x 0x 0.2x 0.2x
Capitalization / Revenue 0.1x 0.09x 0.32x 0.29x 0.22x 0.14x 0.1x 0.07x
EV / Revenue 0.21x 0.16x 0.38x 0.33x 0.3x 0.26x 0.17x 0.12x
EV / EBITDA 6.94x 4.05x 8.35x 6.97x 7.27x 6.45x 4.68x 3.24x
EV / EBIT 10.9x 5.74x 12.1x 8.98x 8.46x 7.26x 4.92x 3.65x
EV / FCF -5.55x - 9.41x 66.9x -4.57x -32.6x -33.3x 13.5x
FCF Yield -18% - 10.6% 1.49% -21.9% -3.06% -3% 7.4%
Dividend per Share 2 2.2 - 2.6 3.799 - 8.632 11.35 14.82
Rate of return 7.55% - 2.64% 3.65% - 4.68% 6.15% 8.03%
EPS 2 3.64 3.84 4.08 6.11 8.4 16.84 23.48 31.61
Distribution rate 60.4% - 63.7% 62.2% - 51.3% 48.3% 46.9%
Net sales 1 862,082 984,619 867,057 1,049,256 2,186,523 4,073,354 6,021,158 7,967,749
EBITDA 1 25,594 38,947 39,735 50,225 91,491 163,976 215,141 298,840
EBIT 1 16,369 27,472 27,390 38,979 78,553 145,733 204,437 265,780
Net income 1 10,468 11,162 11,472 17,446 27,408 55,638 76,736 104,077
Net Debt 1 94,824 73,858 51,731 49,645 186,096 470,999 419,552 382,796
Reference price 2 29.15 29.40 98.60 104.00 150.50 184.50 184.50 184.50
Nbr of stocks (in thousands) 2,844,483 2,847,078 2,841,037 2,888,304 3,180,412 3,180,052 - -
Announcement Date 1/18/22 3/15/23 3/12/24 3/3/25 3/13/26 - - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.96x0.26x6.45x4.68% 18.46B
23.01x1.94x15.29x0.45% 358B
26.71x10.83x19.2x0.32% 208B
22.28x2.09x10.68x0.9% 83.55B
20.19x0.52x9.43x1.58% 58.76B
34.22x6.03x20.65x1.23% 43.91B
35.56x21.72x26.9x1.25% 37.04B
12.51x0.55x6.75x3.83% 28.23B
12.34x0.64x9.62x5.45% 22.27B
14.27x0.31x8.83x0.73% 20.79B
Average 21.21x 4.49x 13.38x 2.04% 87.94B
Weighted average by Cap. 23.65x 4.85x 15.39x 0.94%

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 Wistron Corporation