Financials Raydium Semiconductor Corporation

Equities

3592

TW0003592002

Semiconductors

End-of-day quote Taiwan S.E. 06:00:00 2024-06-26 pm EDT 5-day change 1st Jan Change
408.5 TWD -0.97% Intraday chart for Raydium Semiconductor Corporation -4.44% +2.00%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 9,406 38,355 23,098 30,380 30,987 - -
Enterprise Value (EV) 1 9,406 31,472 23,098 25,589 21,004 23,875 19,758
P/E ratio 11.1 x 9.11 x 6.17 x 21.3 x 14 x 12.2 x 10.5 x
Yield - 7.85% - 3.8% 6.12% 6.19% 6.12%
Capitalization / Revenue - 1.54 x 1.01 x 1.66 x 1.24 x 1.08 x 1.06 x
EV / Revenue - 1.27 x 1.01 x 1.39 x 0.84 x 0.83 x 0.67 x
EV / EBITDA - 5.84 x 5.76 x 14.6 x 7.13 x 7.48 x -
EV / FCF - 5.67 x - 19.4 x 9.22 x 13.7 x 7.26 x
FCF Yield - 17.6% - 5.17% 10.9% 7.29% 13.8%
Price to Book - 4.25 x - 2.71 x 2.58 x 2.42 x 2.31 x
Nbr of stocks (in thousands) 66,943 66,937 75,855 75,855 75,855 - -
Reference price 2 140.5 573.0 304.5 400.5 408.5 408.5 408.5
Announcement Date 3/22/21 2/25/22 2/24/23 2/26/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 - 24,834 22,822 18,347 25,021 28,734 29,318
EBITDA 1 - 5,390 4,008 1,752 2,945 3,193 -
EBIT 1 - 5,119 3,637 1,379 2,505 2,870 3,510
Operating Margin - 20.61% 15.94% 7.51% 10.01% 9.99% 11.97%
Earnings before Tax (EBT) 1 - 5,091 4,505 1,547 2,611 2,975 3,527
Net income 1 856.6 4,291 3,862 1,443 2,242 2,570 3,069
Net margin - 17.28% 16.92% 7.86% 8.96% 8.94% 10.47%
EPS 2 12.69 62.93 49.38 18.78 29.17 33.50 38.84
Free Cash Flow 1 - 5,550 - 1,322 2,279 1,739 2,722
FCF margin - 22.35% - 7.21% 9.11% 6.05% 9.28%
FCF Conversion (EBITDA) - 102.97% - 75.49% 77.39% 54.47% -
FCF Conversion (Net income) - 129.35% - 91.65% 101.67% 67.68% 88.7%
Dividend per Share 2 - 45.00 - 15.20 25.00 25.27 25.00
Announcement Date 3/22/21 2/25/22 2/24/23 2/26/24 - - -
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 6,660 7,698 7,024 3,904 4,196 3,664 4,748 5,019 4,916 6,036 6,229 6,719 6,569 6,417 7,025
EBITDA 1 1,524 1,623 1,250 542.8 592.5 281.4 357 492.9 - 663.7 669 692 854 - -
EBIT 1 1,439 1,533 1,158 448.3 497.6 188.1 267.6 399.8 523.1 566.4 587 688.4 663.4 615.6 709.8
Operating Margin 21.61% 19.92% 16.48% 11.48% 11.86% 5.13% 5.64% 7.97% 10.64% 9.38% 9.42% 10.25% 10.1% 9.59% 10.1%
Earnings before Tax (EBT) 1 1,442 1,875 1,509 654.8 465.6 199.8 362.9 525.6 458.4 646.2 598.5 700 674.5 637 739
Net income 1 1,202 1,575 1,342 550.5 394.3 167.8 420.8 441.5 412.6 552.5 515.5 603.5 581 563.5 632.5
Net margin 18.04% 20.46% 19.11% 14.1% 9.4% 4.58% 8.86% 8.8% 8.39% 9.15% 8.28% 8.98% 8.84% 8.78% 9%
EPS 2 18.00 20.46 17.31 6.980 5.370 2.180 5.520 5.820 5.360 7.230 6.643 7.503 7.299 7.275 8.155
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 2/25/22 5/11/22 8/10/22 11/9/22 2/24/23 5/11/23 8/8/23 11/9/23 2/26/24 5/10/24 - - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - -
Net Cash position 1 - 6,883 - 4,791 9,983 7,112 11,229
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 - 5,550 - 1,322 2,279 1,739 2,722
ROE (net income / shareholders' equity) - 62.4% - 11.9% 19.1% 20.2% 22.9%
ROA (Net income/ Total Assets) - 30.1% - 7.02% 10.9% 11.8% 14.3%
Assets 1 - 14,252 - 20,541 20,531 21,847 21,486
Book Value Per Share 2 - 135.0 - 148.0 158.0 169.0 177.0
Cash Flow per Share 2 - 86.80 - 21.80 30.40 31.90 37.60
Capex 1 - 365 - 356 250 187 250
Capex / Sales - 1.47% - 1.94% 1% 0.65% 0.85%
Announcement Date 3/22/21 2/25/22 2/24/23 2/26/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
408.5 TWD
Average target price
481 TWD
Spread / Average Target
+17.75%
Consensus
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