Company Valuation: Nankang Rubber Tire Corp.,Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 33,654 33,407 27,895 35,025 37,944 27,174
Change - -0.73% -16.5% 25.56% 8.33% -28.38%
Enterprise Value (EV) 1 40,712 47,130 44,051 53,394 56,528 48,786
Change - 15.77% -6.53% 21.21% 5.87% -13.7%
P/E 40x -137x -27.2x 263x 12.9x 36.9x
PBR 3.12x 2.97x 2.71x 3.38x 2.8x 2.14x
PEG - 1x -0x -2x 0x -0.5x
Capitalization / Revenue 3.47x 4.14x 3.76x 4.46x 2.49x 3.22x
EV / Revenue 4.2x 5.83x 5.94x 6.8x 3.71x 5.79x
EV / EBITDA 22.7x -556x 139x 46.5x 13.5x 40.7x
EV / EBIT 39.6x -56.7x -108x 121x 16.1x 84.3x
EV / FCF 22.8x -14x -18.8x -22.1x -33.9x -32.1x
FCF Yield 4.39% -7.13% -5.32% -4.52% -2.95% -3.12%
Dividend per Share 2 1.079 - - - 0.5681 0.7
Rate of return 2.26% - - - 1.1% 1.88%
EPS 2 1.193 -0.3314 -1.398 0.1818 4.011 1.01
Distribution rate 90.5% - - - 14.2% 69.3%
Net sales 1 9,695 8,078 7,412 7,852 15,224 8,432
EBITDA 1 1,796 -84.81 316.5 1,149 4,186 1,199
EBIT 1 1,029 -831.4 -409.3 442 3,513 578.8
Net income 1 844.4 -243.3 -1,024 134 2,948 809.8
Net Debt 1 7,057 13,723 16,156 18,369 18,583 21,612
Reference price 2 47.67 45.56 38.01 47.72 51.70 37.25
Nbr of stocks (in thousands) 706,050 733,196 733,936 733,936 733,936 729,506
Announcement Date 3/18/21 A 3/29/22 A 3/30/23 A 3/14/24 A 3/14/25 A 3/11/26 A
1TWD in Million2TWD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 673M
13.19x1x5.36x3.53% 30.15B
13.76x0.99x5.59x4% 25.46B
14.53x1.24x5.39x3.96% 8.1B
8.67x1.16x5.53x3.24% 7.33B
9.81x1x5.72x3.02% 6.23B
8.69x - - 3.5% 5.73B
5.64x0.49x3.05x5% 5.53B
24.56x1.55x11.98x0.19% 5.4B
15.49x - - 2.94% 5.24B
Average 12.70x 1.06x 6.09x 3.27% 9.98B
Weighted average by Cap. 12.96x 1.04x 5.73x 3.5%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Nankang Rubber Tire Corp.,Ltd.

Historical PBR trend

Valuation ratios - PBR - Nankang Rubber Tire Corp.,Ltd.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Nankang Rubber Tire Corp.,Ltd.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Nankang Rubber Tire Corp.,Ltd.

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