WILL SEMICONDUCTOR CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 105.2 CNY | +0.77% |
|
+7.53% | -1.38% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 123,849 | 200,502 | 271,880 | 91,299 | 129,706 | 126,132 | - | - |
| Enterprise Value (EV) 1 | 125,717 | 201,269 | 273,652 | 99,921 | 131,596 | 129,961 | 129,022 | 114,036 |
| P/E ratio | 196 x | 72.4 x | 60.5 x | 91.8 x | 227 x | 41.1 x | 28.6 x | 22.7 x |
| Yield | 0.05% | 0.14% | 0.17% | 0.11% | 0.13% | 0.37% | 0.57% | 0.76% |
| Capitalization / Revenue | 9.09 x | 10.1 x | 11.3 x | 4.55 x | 6.17 x | 4.75 x | 4 x | 3.43 x |
| EV / Revenue | 9.22 x | 10.2 x | 11.4 x | 4.98 x | 6.26 x | 4.89 x | 4.09 x | 3.1 x |
| EV / EBITDA | 92.2 x | 54.1 x | 46.6 x | 44.1 x | 75.6 x | 28.3 x | 20.3 x | 14.9 x |
| EV / FCF | - | 90.8 x | 255 x | -23.5 x | 20.3 x | 49.1 x | 52.5 x | 25.6 x |
| FCF Yield | - | 1.1% | 0.39% | -4.25% | 4.94% | 2.04% | 1.9% | 3.9% |
| Price to Book | 15.6 x | 17.8 x | 17 x | 5.14 x | 6.11 x | 5.27 x | 4.54 x | 3.76 x |
| Nbr of stocks (in thousands) | 1,165,945 | 1,171,260 | 1,181,060 | 1,184,311 | 1,215,504 | 1,198,516 | - | - |
| Reference price 2 | 106.2 | 171.2 | 230.2 | 77.09 | 106.7 | 105.2 | 105.2 | 105.2 |
| Announcement Date | 4/9/20 | 3/8/21 | 4/18/22 | 4/7/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 13,632 | 19,824 | 24,104 | 20,078 | 21,021 | 26,557 | 31,528 | 36,750 |
| EBITDA 1 | 1,363 | 3,722 | 5,879 | 2,267 | 1,741 | 4,596 | 6,351 | 7,657 |
| EBIT 1 | 785.1 | 2,956 | 5,000 | 1,298 | 666.8 | 3,679 | 5,296 | 6,524 |
| Operating Margin | 5.76% | 14.91% | 20.74% | 6.47% | 3.17% | 13.85% | 16.8% | 17.75% |
| Earnings before Tax (EBT) 1 | 784.5 | 2,991 | 5,002 | 1,301 | 691.4 | 3,593 | 5,232 | 6,488 |
| Net income 1 | 465.6 | 2,706 | 4,476 | 990.1 | 555.6 | 3,137 | 4,459 | 5,664 |
| Net margin | 3.42% | 13.65% | 18.57% | 4.93% | 2.64% | 11.81% | 14.14% | 15.41% |
| EPS 2 | 0.5407 | 2.363 | 3.807 | 0.8400 | 0.4700 | 2.562 | 3.680 | 4.642 |
| Free Cash Flow 1 | - | 2,217 | 1,073 | -4,245 | 6,495 | 2,645 | 2,456 | 4,447 |
| FCF margin | - | 11.19% | 4.45% | -21.14% | 30.9% | 9.96% | 7.79% | 12.1% |
| FCF Conversion (EBITDA) | - | 59.58% | 18.25% | - | 373.06% | 57.56% | 38.68% | 58.08% |
| FCF Conversion (Net income) | - | 81.94% | 23.97% | - | 1,168.98% | 84.32% | 55.08% | 78.52% |
| Dividend per Share 2 | 0.0518 | 0.2333 | 0.3852 | 0.0840 | 0.1400 | 0.3848 | 0.6044 | 0.7970 |
| Announcement Date | 4/9/20 | 3/8/21 | 4/18/22 | 4/7/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2020 S2 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2022 S2 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 8,043 | 11,781 | 5,789 | 5,538 | 5,533 | 4,311 | 4,695 | 9,006 | 4,335 | 4,523 | 6,223 | 5,939 | 5,644 | 6,350 | 7,187 | 7,384 | 6,749 | 7,477 |
| EBITDA 1 | - | - | 1,213 | 1,385 | 871.9 | 777 | - | - | - | - | - | - | - | 1,062 | 1,279 | 1,396 | 1,219 | 1,470 |
| EBIT 1 | - | 1,908 | 1,088 | 932.5 | 880.4 | -121.5 | -1,061 | -1,183 | 259.5 | -71.49 | 284.5 | 194.2 | 575.7 | 887.6 | 1,122 | 1,164 | 1,067 | 1,274 |
| Operating Margin | - | 16.19% | 18.79% | 16.84% | 15.91% | -2.82% | -22.6% | -13.13% | 5.99% | -1.58% | 4.57% | 3.27% | 10.2% | 13.98% | 15.62% | 15.76% | 15.82% | 17.04% |
| Earnings before Tax (EBT) 1 | - | 1,916 | 1,092 | 933.3 | 1,547 | -116.8 | -1,063 | -1,179 | 260.9 | -72 | 289 | 213.5 | 583.7 | 850.7 | 1,037 | 1,072 | 1,037 | 1,254 |
| Net income 1 | 990.1 | 1,716 | 957.7 | 896.2 | 1,373 | -120 | -1,159 | -1,279 | 198.9 | -45.74 | 215.3 | 187.2 | 557.8 | 742 | 897 | 924.1 | 872 | 1,042 |
| Net margin | 12.31% | 14.57% | 16.54% | 16.18% | 24.81% | -2.78% | -24.68% | -14.2% | 4.59% | -1.01% | 3.46% | 3.15% | 9.88% | 11.68% | 12.48% | 12.51% | 12.92% | 13.94% |
| EPS 2 | - | 1.481 | 0.8222 | 0.7556 | 1.170 | -0.1000 | -0.9800 | -1.080 | 0.1700 | -0.0400 | 0.1800 | 0.1600 | 0.4600 | 0.6003 | 0.7436 | 0.7573 | 0.7557 | 0.9037 |
| Dividend per Share 2 | - | - | 0.3900 | - | - | - | - | - | - | - | - | 0.1400 | - | 0.0767 | - | 0.2886 | - | - |
| Announcement Date | 8/20/20 | 3/8/21 | 4/18/22 | 4/26/22 | 8/11/22 | 10/28/22 | 4/7/23 | 4/7/23 | 4/18/23 | 8/14/23 | 10/27/23 | 4/26/24 | 4/26/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,868 | 766 | 1,772 | 8,623 | 1,890 | 3,829 | 2,890 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | 12,096 |
| Leverage (Debt/EBITDA) | 1.371 x | 0.206 x | 0.3014 x | 3.804 x | 1.085 x | 0.8331 x | 0.4551 x | - |
| Free Cash Flow 1 | - | 2,217 | 1,073 | -4,245 | 6,495 | 2,645 | 2,456 | 4,447 |
| ROE (net income / shareholders' equity) | 10.2% | 29.1% | 33.1% | 5.8% | 2.98% | 13.3% | 16.5% | 17.7% |
| ROA (Net income/ Total Assets) | 2.82% | 13.5% | 16.4% | - | 1.52% | 7.93% | 10.1% | 11.6% |
| Assets 1 | 16,535 | 20,062 | 27,364 | - | 36,468 | 39,538 | 44,024 | 49,031 |
| Book Value Per Share 2 | 6.800 | 9.600 | 13.50 | 15.00 | 17.50 | 20.00 | 23.20 | 28.00 |
| Cash Flow per Share 2 | 0.6900 | 2.860 | 1.850 | -1.680 | 6.200 | 4.270 | 4.020 | 3.940 |
| Capex 1 | 727 | 1,127 | 1,120 | 2,252 | 1,042 | 1,170 | 1,527 | 1,515 |
| Capex / Sales | 5.33% | 5.69% | 4.64% | 11.22% | 4.95% | 4.41% | 4.84% | 4.12% |
| Announcement Date | 4/9/20 | 3/8/21 | 4/18/22 | 4/7/23 | 4/26/24 | - | - | - |
1CNY in Million2CNY
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
C
Sell
Buy
Mean consensus
BUY
Number of Analysts
21
Last Close Price
105.2
CNY
Average target price
130.7
CNY
Spread / Average Target
+24.21%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.38% | 17.38B | |
| +157.12% | 3,131B | |
| +82.12% | 863B | |
| +52.83% | 794B | |
| +38.18% | 223B | |
| +130.47% | 180B | |
| +17.32% | 182B | |
| +52.60% | 144B | |
| -33.33% | 143B | |
| +70.32% | 121B |
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