Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Discount Rate | 9.3% - 8.3% | 8.8% |
| Terminal Revenue Multiple | 0.4x - 0.5x | 0.5x |
| Fair Value | NT$ 16.03 - NT$ 18.08 | NT$ 17.03 |
| Upside | 0.8% - 13.7% | 7.1% |
| Select Revenue and EBITDA Forecast | ||||||
| (TWD in millions) | Input Projections | |||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 |
| Revenue | 3,707 | 3,707 | 3,707 | 3,707 | 3,707 | 3,707 |
| % Growth | -0.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| EBITDA | 67 | 75 | 75 | 75 | 75 | 75 |
| % of Revenue | 1.8% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% |
| Calculation of Free Cash Flow | ||||||
| Projected Unlevered Cash Flow | ||||||
| (TWD in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | |
| EBITDA | 75 | 75 | 75 | 75 | 75 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | |
| D&A | (21) | (21) | (21) | (21) | (21) | |
| EBIT | 54 | 54 | 54 | 54 | 54 | |
| Pro forma Taxes | (10) | (10) | (10) | (10) | (10) | |
| NOPAT | 36 | 44 | 44 | 44 | 44 | 44 |
| Capital Expenditures | (24) | (33) | (35) | (35) | (35) | (35) |
| NWC Investment | 3 | 0 | 0 | 0 | 0 | 0 |
| (+) D&A | 22 | 21 | 21 | 21 | 21 | 21 |
| Free Cash Flow | 37 | 32 | 29 | 29 | 29 | 29 |
| % Growth | -15% | -8% | 0% | 0% | 0% | |