MICRO-STAR INTERNATIONAL CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 180.5 TWD | 0.00% |
|
-0.82% | -11.52% |
| Jun. 13 | Micro-Star International Co., Ltd. Announces Changes to Compensation Committee | CI |
| Jun. 13 | Micro-Star International Co., Ltd. Announces Changes to Audit Committee | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 73,249 | 111,943 | 135,599 | 100,960 | 172,351 | 152,497 | - | - |
| Enterprise Value (EV) 1 | 63,136 | 96,154 | 114,282 | 73,484 | 146,578 | 122,319 | 117,720 | 152,497 |
| P/E ratio | 13.2 x | 14.2 x | 8.11 x | 10.3 x | 22.9 x | 13.9 x | 12.1 x | - |
| Yield | 4.84% | 3.17% | 6.54% | 5.52% | 2.65% | 3.88% | 4.67% | 5.68% |
| Capitalization / Revenue | 0.61 x | 0.76 x | 0.67 x | 0.56 x | 0.94 x | 0.75 x | 0.68 x | 0.62 x |
| EV / Revenue | 0.52 x | 0.66 x | 0.57 x | 0.41 x | 0.8 x | 0.6 x | 0.53 x | 0.62 x |
| EV / EBITDA | 9.23 x | 9.35 x | 5.39 x | 6.07 x | 14.4 x | 9.62 x | 7.58 x | 8.46 x |
| EV / FCF | 7.62 x | 9.76 x | 10.3 x | 4.96 x | 33.9 x | 14.4 x | 9.92 x | - |
| FCF Yield | 13.1% | 10.2% | 9.67% | 20.2% | 2.95% | 6.97% | 10.1% | - |
| Price to Book | 2.36 x | 3.15 x | 2.88 x | 2.09 x | 3.43 x | 2.7 x | 2.45 x | - |
| Nbr of stocks (in thousands) | 844,856 | 844,856 | 844,856 | 844,856 | 844,856 | 844,856 | - | - |
| Reference price 2 | 86.70 | 132.5 | 160.5 | 119.5 | 204.0 | 180.5 | 180.5 | 180.5 |
| Announcement Date | 3/25/20 | 3/22/21 | 3/22/22 | 3/14/23 | 3/14/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 120,491 | 146,503 | 201,810 | 180,411 | 182,966 | 203,511 | 223,324 | 244,802 |
| EBITDA 1 | 6,843 | 10,284 | 21,215 | 12,099 | 10,185 | 12,718 | 15,526 | 18,025 |
| EBIT 1 | 5,952 | 9,188 | 19,975 | 10,696 | 8,810 | 12,034 | 14,603 | 16,719 |
| Operating Margin | 4.94% | 6.27% | 9.9% | 5.93% | 4.82% | 5.91% | 6.54% | 6.83% |
| Earnings before Tax (EBT) 1 | 6,518 | 9,597 | 20,631 | 12,284 | 9,177 | 13,262 | 15,461 | - |
| Net income 1 | 5,587 | 7,960 | 16,921 | 9,963 | 7,533 | 10,935 | 12,687 | - |
| Net margin | 4.64% | 5.43% | 8.38% | 5.52% | 4.12% | 5.37% | 5.68% | - |
| EPS 2 | 6.560 | 9.340 | 19.78 | 11.65 | 8.920 | 12.97 | 14.97 | - |
| Free Cash Flow 1 | 8,291 | 9,854 | 11,052 | 14,818 | 4,318 | 8,522 | 11,863 | - |
| FCF margin | 6.88% | 6.73% | 5.48% | 8.21% | 2.36% | 4.19% | 5.31% | - |
| FCF Conversion (EBITDA) | 121.16% | 95.82% | 52.1% | 122.47% | 42.4% | 67% | 76.41% | - |
| FCF Conversion (Net income) | 148.39% | 123.8% | 65.32% | 148.74% | 57.32% | 77.93% | 93.51% | - |
| Dividend per Share 2 | 4.200 | 4.200 | 10.50 | 6.600 | 5.400 | 7.004 | 8.430 | 10.25 |
| Announcement Date | 3/25/20 | 3/22/21 | 3/22/22 | 3/14/23 | 3/14/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 55,276 | 53,039 | 48,016 | 38,566 | 40,790 | 43,601 | 41,292 | 48,918 | 49,155 | 47,627 | 48,008 | 53,431 | 54,446 | 51,129 | 53,253 |
| EBITDA 1 | 4,902 | 5,117 | 4,382 | 1,887 | 712.8 | 3,129 | 2,791 | 2,565 | 1,701 | 2,556 | 2,658 | 3,851 | 3,915 | 3,462 | - |
| EBIT 1 | 4,572 | 4,762 | 4,022 | 1,541 | 370.6 | 2,780 | 2,438 | 2,221 | 1,371 | 2,229 | 2,504 | 3,566 | 3,662 | 3,076 | 3,176 |
| Operating Margin | 8.27% | 8.98% | 8.38% | 4% | 0.91% | 6.38% | 5.9% | 4.54% | 2.79% | 4.68% | 5.22% | 6.67% | 6.73% | 6.02% | 5.96% |
| Earnings before Tax (EBT) 1 | 4,651 | 5,680 | 4,010 | 2,077 | 516.8 | 2,957 | 2,552 | 2,867 | 800.9 | 2,991 | 2,630 | 3,769 | 3,872 | 3,037 | 3,079 |
| Net income 1 | 3,881 | 4,767 | 3,042 | 1,609 | 545.1 | 2,464 | 1,979 | 2,350 | 739.6 | 2,492 | 2,133 | 3,102 | 3,207 | 2,493 | 2,445 |
| Net margin | 7.02% | 8.99% | 6.34% | 4.17% | 1.34% | 5.65% | 4.79% | 4.8% | 1.5% | 5.23% | 4.44% | 5.81% | 5.89% | 4.88% | 4.59% |
| EPS 2 | 4.540 | 5.550 | 3.590 | 1.900 | 0.6600 | 2.920 | 2.340 | 2.780 | 0.8800 | 2.950 | 2.652 | 3.608 | 3.747 | 3.317 | 3.222 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | 4.460 | - | - | - |
| Announcement Date | 3/22/22 | 5/6/22 | 8/11/22 | 11/11/22 | 3/14/23 | 5/12/23 | 8/10/23 | 11/10/23 | 3/14/24 | 5/13/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 10,113 | 15,790 | 21,317 | 27,476 | 25,773 | 30,178 | 34,777 | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 8,291 | 9,854 | 11,052 | 14,818 | 4,318 | 8,522 | 11,863 | - |
| ROE (net income / shareholders' equity) | 18.3% | 23.9% | 41% | 20.9% | 15.3% | 20% | 21% | 20.2% |
| ROA (Net income/ Total Assets) | 9.67% | 11.5% | 18.8% | - | 8.5% | 11.2% | 11.9% | - |
| Assets 1 | 57,761 | 69,376 | 89,928 | - | 88,622 | 97,439 | 106,255 | - |
| Book Value Per Share 2 | 36.70 | 42.10 | 55.70 | 57.30 | 59.40 | 66.70 | 73.60 | - |
| Cash Flow per Share 2 | 10.90 | 12.70 | 14.70 | 18.30 | 5.840 | 9.860 | 23.10 | - |
| Capex 1 | 983 | 971 | 1,561 | 821 | 644 | 828 | 862 | - |
| Capex / Sales | 0.82% | 0.66% | 0.77% | 0.46% | 0.35% | 0.41% | 0.39% | - |
| Announcement Date | 3/25/20 | 3/22/21 | 3/22/22 | 3/14/23 | 3/14/24 | - | - | - |
1TWD in Million2TWD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
180.5
TWD
Average target price
186.7
TWD
Spread / Average Target
+3.42%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -11.52% | 4.69B | |
| +22.07% | 35.94B | |
| +24.68% | 27.51B | |
| +25.45% | 22.49B | |
| +2.75% | 17.83B | |
| +3.81% | 14.17B | |
| +3.98% | 11.62B | |
| +4.54% | 9.61B | |
| +7.51% | 9.35B | |
| +22.57% | 8.76B |
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- Financials Micro-Star International Co., Ltd.
