ดูเหมือนว่ามีข้อผิดพลาดเกิดขึ้นขณะกำลังโหลดหน้าเพจนี้.
ทีมงานของเราได้รับแจ้งแล้วแต่กรุณาติดต่อเราด้วยการใช้ วิจิทบริการสนับสนุนทางอีเมล หากปัญหายังคงมีอยู่
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBIT Multiple | -25.0x - -27.6x | -26.3x |
| Selected Fwd EBIT Multiple | 27.8x - 30.7x | 29.3x |
| Fair Value | HK$ 16.80 - HK$ 18.56 | HK$ 17.68 |
| Upside | -48.3% - -42.9% | -45.6% |
| Benchmarks | Ticker | Full Ticker |
| Semiconductor Manufacturing International Corporation | 981 | SEHK:981 |
| Tower Semiconductor Ltd. | TSEM | NasdaqGS:TSEM |
| GlobalFoundries Inc. | GFS | NasdaqGS:GFS |
| Vanguard International Semiconductor Corporation | 5347 | TPEX:5347 |
| Powerchip Semiconductor Manufacturing Corp. | 6770 | TWSE:6770 |
| Hua Hong Semiconductor Limited | 1347 | SEHK:1347 |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| 981 | TSEM | GFS | 5347 | 6770 | 1347 | ||
| SEHK:981 | NasdaqGS:TSEM | NasdaqGS:GFS | TPEX:5347 | TWSE:6770 | SEHK:1347 | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | NM- | 16.4% | NM- | 0.6% | NM- | NM- | |
| 3Y CAGR | -27.0% | 3.6% | NM- | -20.4% | NM- | NM- | |
| Latest Twelve Months | 136.6% | -8.1% | -39.3% | 23.2% | -141.1% | -201.1% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 8.0% | 12.2% | 3.9% | 24.6% | 12.1% | 7.3% | |
| Prior Fiscal Year | 1.9% | 14.1% | 16.2% | 15.1% | -7.1% | 6.7% | |
| Latest Fiscal Year | 3.6% | 12.9% | 10.8% | 16.1% | -16.9% | -7.8% | |
| Latest Twelve Months | 3.6% | 12.9% | 10.8% | 16.1% | -16.9% | -7.8% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 8.50x | 2.02x | 2.75x | 3.17x | 2.35x | 4.01x | |
| EV / LTM EBITDA | 19.7x | 6.4x | 8.3x | 9.1x | 80.1x | 20.9x | |
| EV / LTM EBIT | 238.7x | 15.7x | 25.5x | 19.6x | -13.9x | -51.6x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | -13.9x | 19.6x | 238.7x | ||||
| Historical EV / LTM EBIT | -145.5x | 8.6x | 66.2x | ||||
| Selected EV / LTM EBIT | -25.0x | -26.3x | -27.6x | ||||
| (x) LTM EBIT | (156) | (156) | (156) | ||||
| (=) Implied Enterprise Value | 3,889 | 4,094 | 4,298 | ||||
| (-) Non-shareholder Claims * | 8 | 8 | 8 | ||||
| (=) Equity Value | 3,897 | 4,101 | 4,306 | ||||
| (/) Shares Outstanding | 2,127.1 | 2,127.1 | 2,127.1 | ||||
| Implied Value Range | 1.83 | 1.93 | 2.02 | ||||
| FX Rate: USD/HKD | 0.1 | 0.1 | 0.1 | Market Price | |||
| Implied Value Range (Trading Cur) | 14.25 | 15.00 | 15.75 | 32.50 | |||
| Upside / (Downside) | -56.2% | -53.8% | -51.5% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | 981 | TSEM | GFS | 5347 | 6770 | 1347 | |
| Enterprise Value | 82,668 | 2,895 | 18,490 | 139,521 | 105,099 | 8,879 | |
| (+) Cash & Short Term Investments | 10,848 | 1,218 | 3,386 | 63,874 | 31,155 | 4,459 | |
| (+) Investments & Other | 5,427 | 7 | 890 | 7,448 | 0 | 429 | |
| (-) Debt | (11,596) | (181) | (2,321) | (24,656) | (68,041) | (2,221) | |
| (-) Other Liabilities | (11,256) | 13 | (48) | (4,563) | 0 | (2,660) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 76,092 | 3,952 | 20,397 | 181,625 | 68,213 | 8,886 | |
| (/) Shares Outstanding | 12,332.2 | 111.6 | 552.9 | 1,866.6 | 4,172.1 | 2,127.1 | |
| Implied Stock Price | 6.17 | 35.43 | 36.89 | 97.30 | 16.35 | 4.18 | |
| FX Conversion Rate to Trading Currency | 0.13 | 1.00 | 1.00 | 1.00 | 1.00 | 0.13 | |
| Implied Stock Price (Trading Cur) | 48.00 | 35.43 | 36.89 | 97.30 | 16.35 | 32.50 | |
| Trading Currency | HKD | USD | USD | TWD | TWD | HKD | |
| FX Rate to Reporting Currency | 0.13 | 1.00 | 1.00 | 1.00 | 1.00 | 0.13 | |