Financials Arm Holdings plc

Equities

ARM

US0420682058

Semiconductors

Market Closed - Nasdaq Other stock markets 04:00:00 2024-06-10 pm EDT			5-day change	1st Jan Change
139.9 ^USD	+2.45%		+10.06%	+86.19%

Jun. 10	Arm, Qualcomm legal battle seen disrupting AI-powered PC wave	RE
Jun. 10	Arm, Qualcomm legal battle seen disrupting AI-powered PC wave	RE

Valuation

Fiscal Period: Marzo	2024	2025	2026	2027
Capitalization ¹	128,499	145,553	-	-
Enterprise Value (EV) ¹	128,499	142,085	140,293	138,312
P/E ratio	431 x	161 x	107 x	79.4 x
Yield	-	-	-	-
Capitalization / Revenue	39.7 x	36.6 x	29.9 x	25.2 x
EV / Revenue	39.7 x	35.7 x	28.8 x	23.9 x
EV / EBITDA	81.8 x	72.5 x	56.1 x	41.7 x
EV / FCF	-	115 x	73.5 x	58.2 x
FCF Yield	-	0.87%	1.36%	1.72%
Price to Book	-	21.3 x	16.6 x	13 x
Nbr of stocks (in thousands)	1,028,075	1,040,330	-	-
Reference price ²	125.0	139.9	139.9	139.9
Announcement Date	5/8/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Marzo	2023	2024	2025	2026	2027
Net sales ¹	-	3,233	3,980	4,870	5,785
EBITDA ¹	-	1,570	1,960	2,501	3,321
EBIT ¹	-	1,408	1,798	2,373	3,047
Operating Margin	-	43.55%	45.19%	48.74%	52.68%
Earnings before Tax (EBT) ¹	-	212	1,148	1,640	2,326
Net income ¹	524	306	913	1,373	1,847
Net margin	-	9.46%	22.94%	28.19%	31.93%
EPS ²	0.5100	0.2900	0.8675	1.313	1.763
Free Cash Flow ¹	-	-	1,235	1,909	2,376
FCF margin	-	-	31.03%	39.19%	41.07%
FCF Conversion (EBITDA)	-	-	63%	76.3%	71.55%
FCF Conversion (Net income)	-	-	135.25%	139.03%	128.61%
Dividend per Share ²	-	-	-	-	-
Announcement Date	7/31/23	5/8/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Marzo	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1
Net sales ¹	806	824	928	902.7	808.9	966.4	1,291	1,144
EBITDA ¹	422	380	429	432.9	349.3	451.7	710.9	550.2
EBIT ¹	381	338	391	397.7	312.1	423.2	676.2	563.3
Operating Margin	47.27%	41.02%	42.13%	44.06%	38.58%	43.79%	52.36%	49.22%
Earnings before Tax (EBT) ¹	-119	146	58	238.9	171.7	274.8	505.1	332.5
Net income ¹	-110	87	224	185.5	125.5	207.2	399.5	297
Net margin	-13.65%	10.56%	24.14%	20.55%	15.52%	21.44%	30.93%	25.95%
EPS ²	-0.1100	0.0800	0.2100	0.1738	0.1127	0.1924	0.3819	0.2790
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	11/9/23	2/7/24	5/8/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: Marzo	2023	2024	2025	2026	2027
Net Debt ¹	-	-	-	-	-
Net Cash position ¹	-	-	3,467	5,260	7,241
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow ¹	-	-	1,235	1,909	2,376
ROE (net income / shareholders' equity)	-	-	24%	25.5%	25%
ROA (Net income/ Total Assets)	-	-	12.9%	15.2%	16.1%
Assets ¹	-	-	7,083	9,033	11,457
Book Value Per Share ²	-	-	6.560	8.450	10.80
Cash Flow per Share ²	-	-	1.620	2.050	2.770
Capex ¹	-	-	122	119	142
Capex / Sales	-	-	3.06%	2.44%	2.45%
Announcement Date	7/31/23	5/8/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Arm Holdings plc

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

139.9 USD

Average target price

112.9 USD

Spread / Average Target

-19.27%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Semiconductors

	1st Jan change	Capi.
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