Financials Zen Voce Corporation

Equities

3581

TW0003581005

Semiconductor Equipment & Testing

End-of-day quote Taipei Exchange 18:00:00 2024-05-20 EDT 5-day change 1st Jan Change
28.6 TWD -0.69% Intraday chart for Zen Voce Corporation -1.21% +11.28%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 776.6 892.6 1,109 1,403 1,117 1,311
Enterprise Value (EV) 1 707.5 843.1 1,083 1,226 957.4 1,031
P/E ratio 21.4 x 16.7 x 14.5 x 13 x 17.4 x 47 x
Yield 4.67% 4% 4.14% 3.64% 3.65% -
Capitalization / Revenue 0.67 x 0.76 x 0.93 x 1.07 x 0.74 x 0.9 x
EV / Revenue 0.61 x 0.71 x 0.9 x 0.94 x 0.63 x 0.71 x
EV / EBITDA 8.57 x 8.76 x 7.93 x 7.7 x 5.57 x 12.7 x
EV / FCF 193 x 5.61 x -11.2 x 6.2 x 15.9 x 7.1 x
FCF Yield 0.52% 17.8% -8.94% 16.1% 6.31% 14.1%
Price to Book 1.07 x 1.22 x 1.45 x 1.71 x 1.31 x 1.56 x
Nbr of stocks (in thousands) 51,776 51,006 51,006 51,006 51,006 51,006
Reference price 2 15.00 17.50 21.75 27.50 21.90 25.70
Announcement Date 3/27/19 3/30/20 3/31/21 3/30/22 3/30/23 3/26/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,166 1,180 1,199 1,308 1,510 1,461
EBITDA 1 82.53 96.24 136.5 159.3 171.9 81.16
EBIT 1 69.53 84.88 124.6 148.7 159.3 69.66
Operating Margin 5.97% 7.19% 10.39% 11.37% 10.55% 4.77%
Earnings before Tax (EBT) 1 68.9 86.38 157.6 155.7 138.8 90.95
Net income 1 36.28 53.7 76.62 107.7 64.14 27.9
Net margin 3.11% 4.55% 6.39% 8.23% 4.25% 1.91%
EPS 2 0.7000 1.050 1.500 2.110 1.258 0.5471
Free Cash Flow 1 3.675 150.4 -96.75 197.8 60.4 145.2
FCF margin 0.32% 12.74% -8.07% 15.13% 4% 9.94%
FCF Conversion (EBITDA) 4.45% 156.29% - 124.21% 35.13% 178.96%
FCF Conversion (Net income) 10.13% 280.1% - 183.73% 94.16% 520.52%
Dividend per Share 2 0.7000 0.7000 0.9000 1.000 0.8000 -
Announcement Date 3/27/19 3/30/20 3/31/21 3/30/22 3/30/23 3/26/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 69.1 49.5 26.6 176 160 280
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 3.68 150 -96.7 198 60.4 145
ROE (net income / shareholders' equity) 6.18% 8.47% 13.4% 13.9% 9.43% 6.16%
ROA (Net income/ Total Assets) 2.75% 3.42% 4.88% 5.23% 5.02% 2.16%
Assets 1 1,319 1,572 1,570 2,060 1,279 1,293
Book Value Per Share 2 14.10 14.30 15.00 16.10 16.70 16.50
Cash Flow per Share 2 8.080 7.830 7.580 10.50 11.60 14.60
Capex 1 7.89 14.4 33.3 16.6 79.3 5.17
Capex / Sales 0.68% 1.22% 2.78% 1.27% 5.25% 0.35%
Announcement Date 3/27/19 3/30/20 3/31/21 3/30/22 3/30/23 3/26/24
1TWD in Million2TWD
Estimates
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