Company Valuation: Axis Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,731 2,034 1,878 2,857 2,428 1,890
Change - 17.5% -7.67% 52.11% -15.01% -22.17%
Enterprise Value (EV) 1 1,118 1,368 1,124 2,004 1,705 1,195
Change - 22.36% -17.85% 78.38% -14.92% -29.95%
P/E 12.2x 8.85x 10.4x 11.2x 13.5x 20.4x
PBR 1.83x 1.88x 1.68x 2.31x 1.94x 1.7x
PEG - 0.1x -0.5x 0.3x -0.5x -0.4x
Capitalization / Revenue 1.71x 1.68x 1.17x 2.1x 2.34x 1.89x
EV / Revenue 1.1x 1.13x 0.7x 1.47x 1.65x 1.19x
EV / EBITDA 8.54x 11.1x 4.22x 11.4x 16.8x 13.9x
EV / EBIT 9.22x 12.1x 4.38x 12.1x 18.8x 17x
EV / FCF -1,055x 42.3x 5.68x 26.2x 4.92x 8.82x
FCF Yield -0.09% 2.36% 17.6% 3.81% 20.3% 11.3%
Dividend per Share 2 2.7 3.6 3 4.2 4 1.8
Rate of return 7.27% 8.25% 7.44% 6.85% 7.68% 4.44%
EPS 2 3.05 4.93 3.89 5.47 3.85 1.99
Distribution rate 88.5% 73% 77.1% 76.8% 104% 90.5%
Net sales 1 1,015 1,212 1,610 1,359 1,036 1,002
EBITDA 1 130.9 122.8 266 175.6 101.4 85.82
EBIT 1 121.2 113.3 256.4 165.2 90.91 70.23
Net income 1 144.7 233.4 183.6 257.3 180.5 93.2
Net Debt 1 -613.4 -666.4 -754.3 -852.2 -722.6 -695.1
Reference price 2 37.15 43.65 40.30 61.30 52.10 40.55
Nbr of stocks (in thousands) 46,601 46,601 46,601 46,601 46,601 46,601
Announcement Date 3/26/21 A 3/21/22 A 3/17/23 A 3/8/24 A 3/10/25 A 3/6/26 A
1TWD in Million2TWD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 98.05M
32.6x6.08x18.54x0.69% 205B
13.44x0.3x6.73x3.74% 110B
28.32x10.19x20.7x0.45% 90.3B
38.66x6.34x20.72x0.9% 89.57B
72.32x7.72x35.86x0.19% 81.1B
18.56x1.1x12.36x0.69% 62.63B
39.26x5.52x20.77x0.01% 56.91B
63.78x29.24x66.32x0.4% 43.51B
32.15x2.03x21.96x-.--% 42.91B
Average 37.68x 7.61x 24.89x 0.79% 78.22B
Weighted average by Cap. 35.28x 6.57x 21.68x 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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