Company Valuation: Alpha Microelectronics Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 564.5 1,255 957.4 989 792.6 546.4
Change - 122.4% -23.74% 3.3% -19.86% -31.05%
Enterprise Value (EV) 1 269 826.1 426.6 643.4 516.5 341.5
Change - 207.07% -48.36% 50.83% -19.72% -33.88%
P/E -14.8x 16.7x 9.86x -25.4x -15.2x -4.74x
PBR 0.94x 1.86x 1.34x 1.69x 1.47x 1.29x
PEG - -0x 0.3x 0x -0.5x -0x
Capitalization / Revenue 1.29x 2.34x 2.14x 4.14x 3.54x 3.55x
EV / Revenue 0.62x 1.54x 0.96x 2.69x 2.31x 2.22x
EV / EBITDA -29.2x 8.15x 6.58x -14.6x -8.07x -3.23x
EV / EBIT -9.59x 9.78x 8.05x -11.7x -6.97x -3.01x
EV / FCF 18.4x 6.25x 4.32x -7.16x -7.93x -8.03x
FCF Yield 5.43% 16% 23.2% -14% -12.6% -12.5%
Dividend per Share 2 - 1.4 2 - - -
Rate of return - 5.04% 9.43% - - -
EPS 2 -0.8448 1.66 2.15 -0.8608 -1.151 -2.554
Distribution rate - 84.3% 93% - - -
Net sales 1 437.4 536.3 446.4 239.1 224.1 153.8
EBITDA 1 -9.206 101.4 64.84 -43.98 -64.01 -105.7
EBIT 1 -28.05 84.49 52.99 -54.93 -74.12 -113.6
Net income 1 -38.15 75.74 99.17 -38.88 -52 -115.4
Net Debt 1 -295.5 -429.4 -530.8 -345.6 -276.1 -204.9
Reference price 2 12.50 27.80 21.20 21.90 17.55 12.10
Nbr of stocks (in thousands) 45,160 45,160 45,160 45,160 45,160 45,160
Announcement Date 3/22/21 A 3/28/22 A 3/27/23 A 3/14/24 A 3/18/25 A 3/13/26 A
1TWD in Million2TWD
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 19.58M
52.48x8.35x42.9x1.54% 176B
60.88x9.06x17.4x-.--% 95.26B
41.53x8.95x30.98x1.23% 52.65B
45.84x - - 0.22% 46.27B
7654.11x72.33x2296.01x - 40.8B
36.46x6.73x23.74x1.19% 39.98B
40.61x6.77x27.58x1.08% 31.06B
30.79x7.14x23.52x0.64% 29.56B
37.43x4.11x20.39x1.26% 27.85B
Average 888.90x 15.43x 310.32x 0.9% 53.92B
Weighted average by Cap. 623.80x 13.30x 218.28x 0.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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