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 83,704 280,126 300,384 478,652 629,650 - -
Change - 0.95% 234.66% 7.23% 59.35% 31.55% - -
Enterprise Value (EV) 1 177,741 157,562 331,857 350,029 664,748 1,100,650 1,049,203 1,012,446
Change - -11.35% 110.62% 5.48% 89.91% 65.57% -4.67% -3.5%
P/E 8.01x 7.66x 24.2x 17x 17.9x 12.2x 8.55x 6.44x
PBR 1.06x 0.89x 2.77x 2.45x 2.7x 2.83x 2.14x 1.65x
PEG - 1.39x 3.87x 0.3x 0.5x 0.1x 0.2x 0.2x
Capitalization / Revenue 0.1x 0.09x 0.32x 0.29x 0.22x 0.16x 0.11x 0.08x
EV / Revenue 0.21x 0.16x 0.38x 0.33x 0.3x 0.27x 0.18x 0.13x
EV / EBITDA 6.94x 4.05x 8.35x 6.97x 7.27x 6.76x 4.9x 3.39x
EV / EBIT 10.9x 5.74x 12.1x 8.98x 8.46x 7.61x 5.28x 3.87x
EV / FCF -5.55x - 9.41x 66.9x -4.57x -34x -34.7x 14.1x
FCF Yield -18% - 10.6% 1.49% -21.9% -2.94% -2.88% 7.09%
Dividend per Share 2 2.2 - 2.6 3.799 - 9.413 11.31 14.82
Rate of return 7.55% - 2.64% 3.65% - 4.75% 5.71% 7.48%
EPS 2 3.64 3.84 4.08 6.11 8.4 16.21 23.16 30.75
Distribution rate 60.4% - 63.7% 62.2% - 58.1% 48.8% 48.2%
Net sales 1 862,082 984,619 867,057 1,049,256 2,186,523 4,047,182 5,911,767 7,731,136
EBITDA 1 25,594 38,947 39,735 50,225 91,491 162,810 214,076 298,840
EBIT 1 16,369 27,472 27,390 38,979 78,553 144,688 198,717 261,381
Net income 1 10,468 11,162 11,472 17,446 27,408 52,319 75,666 101,353
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 98.60 104.00 150.50 198.00 198.00 198.00
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
12.22x0.27x6.76x4.75% 19.9B
21.43x1.84x14.56x0.48% 339B
24.74x9.98x17.69x0.35% 192B
18.41x1.79x9.08x1.09% 69.03B
17.61x0.45x8.16x1.82% 51.26B
34.77x6.07x20.67x1.19% 44.29B
39.9x24.48x30.32x1.12% 41.75B
13.15x0.58x7.05x3.67% 29.43B
13.27x0.7x10.4x5.07% 24.06B
28.66x2.96x19.08x2.57% 22.09B
Average 22.42x 4.91x 14.38x 2.21% 83.3B
Weighted average by Cap. 22.79x 4.90x 15.10x 1.06%

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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