Financials Soitec

Equities

SOI

FR0013227113

Semiconductors

Market Closed - Euronext Paris Other stock markets 11:35:13 2024-05-31 am EDT			5-day change	1st Jan Change
111 ^EUR	+0.18%		-3.06%	-31.40%

May. 29	Barclays Trims Soitec PT, Affirms Weight in Line Rating	MT
May. 29	SOITEC : Barclays lowers its target price	CF

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,289	2,161	5,783	5,970	5,252	3,962	-	-
Enterprise Value (EV) ¹	2,336	2,215	5,787	5,828	5,111	3,462	3,811	3,681
P/E ratio	27.7 x	19.8 x	80.7 x	30.4 x	23 x	19.7 x	26.5 x	16.2 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	5.16 x	3.62 x	9.91 x	6.92 x	4.82 x	3.5 x	4.08 x	3.1 x
EV / Revenue	5.26 x	3.71 x	9.91 x	6.75 x	4.69 x	3.54 x	3.93 x	2.88 x
EV / EBITDA	15.3 x	11.9 x	32.3 x	18.9 x	13.1 x	10.4 x	11.3 x	7.74 x
EV / FCF	-36.8 x	143 x	143 x	119 x	150 x	-57.7 x	48.5 x	30.9 x
FCF Yield	-2.72%	0.7%	0.7%	0.84%	0.67%	-1.73%	2.06%	3.24%
Price to Book	5.8 x	3.96 x	9.03 x	5.53 x	3.97 x	2.29 x	2.38 x	2.06 x
Nbr of stocks (in thousands)	31,362	32,849	33,177	34,893	35,585	35,696	-	-
Reference price ²	73.00	65.80	174.3	171.1	147.6	111.0	111.0	111.0
Announcement Date	6/12/19	6/10/20	6/9/21	6/8/22	6/7/23	5/22/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	443.9	597.5	583.8	863	1,089	978	970.2	1,279
EBITDA ¹	152.3	185.4	179	309	391	332	338.1	475.4
EBIT ¹	108.4	117.7	90	195	267	208	189.1	296.9
Operating Margin	24.42%	19.7%	15.42%	22.6%	24.52%	21.27%	19.49%	23.21%
Earnings before Tax (EBT) ¹	100.8	115.4	75.6	204	258	201	177.3	294.8
Net income ¹	90.2	109.7	72.7	202	232	178	155	253.2
Net margin	20.32%	18.36%	12.45%	23.41%	21.3%	18.2%	15.97%	19.79%
EPS ²	2.632	3.320	2.160	5.630	6.410	4.880	4.183	6.831
Free Cash Flow ¹	-63.5	15.5	40.4	49	34	-60	78.56	119.2
FCF margin	-14.3%	2.59%	6.92%	5.68%	3.12%	-6.13%	8.1%	9.32%
FCF Conversion (EBITDA)	-	8.36%	22.57%	15.86%	8.7%	15.57%	23.23%	25.08%
FCF Conversion (Net income)	-	14.13%	55.57%	24.26%	14.66%	28.92%	50.69%	47.09%
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	6/12/19	6/10/20	6/9/21	6/8/22	6/7/23	5/22/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2020 S2	2021 S1	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 S2
Net sales ¹	258.4	339.1	254.4	329.4	180.4	192.7	373.1	207.6	282	489.9	203	267.7	470.6	274	344	618	245	401	240	332	577	159.6	190.5	342	247	628
EBITDA	72.6	-	-	101	-	-	137.5	-	-	171.5	-	-	167	-	-	224	-	132	-	105.3	-	43.8	61.7	-	86.5	-
EBIT	53.2	-	-	52.8	-	-	75.3	-	-	119.7	-	-	110	-	-	157	-	86	-	50.5	122	8.3	21.7	45	41.4	141
Operating Margin	20.58%	-	-	16.03%	-	-	20.18%	-	-	24.43%	-	-	23.38%	-	-	25.4%	-	21.45%	-	15.21%	21.14%	5.2%	11.39%	13.16%	16.76%	22.45%
Earnings before Tax (EBT)	51.5	-	-	-	-	-	-	-	-	123.9	-	-	108	-	-	150	-	88	-	51.7	113	4.2	17.6	45	37.3	141
Net income	41.5	-	-	50.5	-	-	-	-	-	127.8	-	-	95	-	-	137	-	80	-	46.6	98	3.7	15.5	40	32.8	124
Net margin	16.06%	-	-	15.33%	-	-	-	-	-	26.09%	-	-	20.19%	-	-	22.17%	-	19.95%	-	14.04%	16.98%	2.32%	8.14%	11.7%	13.28%	19.75%
EPS	1.250	-	-	-	-	-	-	-	-	3.490	-	-	2.650	-	-	3.760	-	2.190	-	1.270	2.690	0.1000	0.4300	1.000	0.9100	3.200
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/27/19	6/10/20	11/18/20	6/9/21	7/21/21	11/30/21	11/30/21	1/26/22	6/8/22	6/8/22	7/25/22	11/23/22	11/23/22	1/25/23	6/7/23	6/7/23	11/15/23	11/15/23	2/22/24	-	5/22/24	-	-	-	-	-

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	46.2	53.3	4.1	-	-	39	-	-
Net Cash position ¹	-	-	-	142	141	81.5	151	282
Leverage (Debt/EBITDA)	0.3033 x	0.2875 x	0.0229 x	-	-	0.1175 x	-	-
Free Cash Flow ¹	-63.5	15.5	40.4	49	34	-60	78.6	119
ROE (net income / shareholders' equity)	26.7%	23.1%	11.8%	23.5%	19.8%	12.7%	9.75%	14.6%
ROA (Net income/ Total Assets)	13.9%	12%	5.66%	11.4%	10.6%	6.96%	10.9%	9.87%
Assets ¹	651.1	911.8	1,285	1,777	2,194	2,556	1,422	2,566
Book Value Per Share ²	12.60	16.60	19.30	30.90	37.20	41.90	46.60	53.80
Cash Flow per Share ²	1.670	2.930	4.970	7.530	7.040	4.380	14.00	9.600
Capex ¹	121	84.1	134	205	228	225	223	233
Capex / Sales	27.17%	14.07%	22.89%	23.75%	20.94%	23.01%	22.96%	18.19%
Announcement Date	6/12/19	6/10/20	6/9/21	6/8/22	6/7/23	5/22/24	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Soitec

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

111 EUR

Average target price

142.2 EUR

Spread / Average Target

+28.08%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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