Company Valuation: ASROCK Incorporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 34,604 17,323 31,262 28,533 30,640 27,175 -
Change - -49.94% 80.46% -8.73% 7.38% -11.31% -
Enterprise Value (EV) 1 31,204 14,021 28,215 25,314 24,535 16,006 17,562
Change - -55.07% 101.24% -10.28% -3.07% -34.76% 9.72%
P/E 14.4x 16.4x 34.1x 22x 16.3x 12.1x 9.31x
PBR 4.18x 2.11x 3.85x 3.08x 2.57x 2.11x 1.91x
PEG - -0.3x -2.7x 0.6x 0.4x 0.6x 0.3x
Capitalization / Revenue 1.75x 1.01x 1.65x 1.11x 0.64x 0.48x 0.36x
EV / Revenue 1.58x 0.82x 1.49x 0.99x 0.51x 0.28x 0.23x
EV / EBITDA 9.91x 10.6x 21.1x 13.6x 8.32x 3.1x 2.98x
EV / EBIT 10.2x 11.8x 24.6x 15.1x 8.94x 3.23x 2.97x
EV / FCF 31.9x 13.3x 10.8x -92.1x 21.9x 2.54x 8.94x
FCF Yield 3.13% 7.51% 9.29% -1.09% 4.57% 39.3% 11.2%
Dividend per Share 2 13 - 6.9 5.3 11 10.92 15.44
Rate of return 4.62% - 2.68% 2.29% 4.44% 4.96% 7.02%
EPS 2 19.53 8.65 7.54 10.54 15.18 18.24 23.62
Distribution rate 66.6% - 91.5% 50.3% 72.5% 59.9% 65.3%
Net sales 1 19,763 17,121 18,992 25,654 47,839 56,895 74,954
EBITDA 1 3,150 1,320 1,338 1,867 2,949 5,162 5,902
EBIT 1 3,058 1,185 1,147 1,672 2,745 4,952 5,910
Net income 1 2,381 1,066 919 1,289 1,888 2,248 2,914
Net Debt 1 -3,399 -3,302 -3,046 -3,220 -6,104 -11,169 -9,613
Reference price 2 281.50 142.00 257.00 231.50 248.00 220.00 220.00
Nbr of stocks (in thousands) 122,925 121,993 121,641 123,254 123,548 123,524 -
Announcement Date 23/2/22 9/3/23 6/3/24 13/3/25 26/2/26 - -
1TWD in Million2TWD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.95x0.28x3.05x5.01% 850M
18.78x0.96x13.65x2.74% 40.19B
14.96x0.75x12.18x-.--% 24.88B
31.36x0.56x21.13x0.3% 17.1B
25.02x - - - 61.86M
Average 20.41x 0.64x 12.50x 2.01% 16.62B
Weighted average by Cap. 20.16x 0.81x 14.64x 1.44%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  4. Valuation ASROCK Incorporation