NIEN MADE ENTERPRISE CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 342.5 TWD | -1.01% |
|
-9.39% | -2.97% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 81,167 | 95,525 | 120,871 | 86,294 | 103,436 | 100,359 | - | - |
| Enterprise Value (EV) 1 | 76,402 | 89,913 | 113,264 | 76,921 | 90,616 | 85,853 | 83,737 | 79,797 |
| P/E ratio | 18 x | 19.9 x | 22.7 x | 14 x | 18.8 x | 16.7 x | 15.1 x | 13.4 x |
| Yield | 3.61% | 3.07% | 2.67% | 3.74% | 3.4% | 3.5% | 3.89% | 4.14% |
| Capitalization / Revenue | 3.39 x | 3.91 x | 4.16 x | 2.98 x | 3.84 x | 3.42 x | 3.14 x | 2.87 x |
| EV / Revenue | 3.19 x | 3.68 x | 3.9 x | 2.66 x | 3.37 x | 2.92 x | 2.62 x | 2.28 x |
| EV / EBITDA | 11 x | 11.6 x | 13.1 x | 9.24 x | 11.4 x | 9.55 x | 8.22 x | 7.01 x |
| EV / FCF | 16.5 x | 20.4 x | 22.7 x | 14.3 x | 14.9 x | 21.4 x | 15.7 x | 13.1 x |
| FCF Yield | 6.06% | 4.9% | 4.41% | 6.97% | 6.69% | 4.68% | 6.39% | 7.64% |
| Price to Book | 5.91 x | 7.24 x | 6.91 x | 4.02 x | 4.31 x | 3.64 x | 3.28 x | 2.83 x |
| Nbr of stocks (in thousands) | 293,020 | 293,020 | 293,020 | 293,020 | 293,020 | 293,020 | - | - |
| Reference price 2 | 277.0 | 326.0 | 412.5 | 294.5 | 353.0 | 342.5 | 342.5 | 342.5 |
| Announcement Date | 3/17/20 | 3/16/21 | 3/16/22 | 3/14/23 | 3/14/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 23,929 | 24,414 | 29,024 | 28,951 | 26,913 | 29,355 | 31,974 | 34,944 |
| EBITDA 1 | 6,942 | 7,735 | 8,624 | 8,327 | 7,919 | 8,987 | 10,188 | 11,376 |
| EBIT 1 | 6,154 | 6,960 | 7,754 | 7,368 | 6,970 | 7,803 | 8,917 | 10,056 |
| Operating Margin | 25.72% | 28.51% | 26.71% | 25.45% | 25.9% | 26.58% | 27.89% | 28.78% |
| Earnings before Tax (EBT) 1 | 6,111 | 6,567 | 7,459 | 8,450 | 8,033 | 8,354 | 9,078 | 10,282 |
| Net income 1 | 4,504 | 4,795 | 5,320 | 6,173 | 5,488 | 5,893 | 6,562 | 7,474 |
| Net margin | 18.82% | 19.64% | 18.33% | 21.32% | 20.39% | 20.08% | 20.52% | 21.39% |
| EPS 2 | 15.37 | 16.36 | 18.15 | 21.07 | 18.73 | 20.53 | 22.73 | 25.57 |
| Free Cash Flow 1 | 4,630 | 4,404 | 4,993 | 5,360 | 6,065 | 4,018 | 5,347 | 6,100 |
| FCF margin | 19.35% | 18.04% | 17.2% | 18.52% | 22.53% | 13.69% | 16.72% | 17.46% |
| FCF Conversion (EBITDA) | 66.7% | 56.94% | 57.9% | 64.38% | 76.59% | 44.71% | 52.48% | 53.62% |
| FCF Conversion (Net income) | 102.82% | 91.84% | 93.86% | 86.84% | 110.52% | 68.18% | 81.48% | 81.61% |
| Dividend per Share 2 | 10.00 | 10.00 | 11.00 | 11.00 | 12.00 | 11.99 | 13.34 | 14.20 |
| Announcement Date | 3/17/20 | 3/16/21 | 3/16/22 | 3/14/23 | 3/14/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 7,305 | 6,930 | 8,279 | 6,914 | 6,829 | 6,065 | 6,710 | 6,904 | 7,235 | 6,313 | 7,348 | 7,662 | 7,914 | 6,888 | 7,982 |
| EBITDA 1 | 2,266 | 1,812 | 2,456 | 2,085 | 1,974 | 1,690 | 1,951 | 1,996 | 2,281 | 1,788 | 2,104 | 2,223 | 2,407 | - | - |
| EBIT 1 | 2,047 | 1,578 | 2,215 | 1,845 | 1,731 | 1,458 | 1,730 | 1,749 | 2,034 | 1,538 | 1,928 | 2,111 | 2,180 | 1,762 | 2,151 |
| Operating Margin | 28.02% | 22.77% | 26.75% | 26.68% | 25.34% | 24.03% | 25.78% | 25.34% | 28.11% | 24.36% | 26.23% | 27.55% | 27.55% | 25.59% | 26.95% |
| Earnings before Tax (EBT) 1 | 1,996 | 2,445 | 2,131 | 2,128 | 1,747 | 1,455 | 2,104 | 2,062 | 2,411 | 1,942 | 2,052 | 2,139 | 2,221 | 1,918 | 2,291 |
| Net income 1 | 1,433 | 1,506 | 1,660 | 1,536 | 1,472 | 1,129 | 1,354 | 1,586 | 1,419 | 1,429 | 1,435 | 1,532 | 1,639 | 1,410 | 1,678 |
| Net margin | 19.62% | 21.73% | 20.05% | 22.21% | 21.55% | 18.61% | 20.19% | 22.97% | 19.6% | 22.64% | 19.53% | 19.99% | 20.72% | 20.47% | 21.03% |
| EPS 2 | 4.890 | 5.140 | 5.660 | 5.240 | 5.030 | 3.840 | 4.620 | 5.410 | 4.850 | 4.870 | 4.901 | 5.229 | 5.507 | 4.810 | 5.730 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/16/22 | 5/4/22 | 8/2/22 | 11/10/22 | 3/14/23 | 5/4/23 | 8/8/23 | 11/8/23 | 3/14/24 | 5/2/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 4,764 | 5,612 | 7,607 | 9,373 | 12,820 | 14,506 | 16,622 | 20,562 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 4,630 | 4,404 | 4,993 | 5,360 | 6,065 | 4,018 | 5,347 | 6,100 |
| ROE (net income / shareholders' equity) | 34.3% | 33% | 32.4% | 31.7% | 24.1% | 23.7% | 23.4% | 22.9% |
| ROA (Net income/ Total Assets) | 22.1% | 19.2% | 18.6% | 20.6% | 17.4% | 17.9% | 17.9% | 18.4% |
| Assets 1 | 20,390 | 25,029 | 28,647 | 29,974 | 31,582 | 32,984 | 36,586 | 40,546 |
| Book Value Per Share 2 | 46.90 | 45.00 | 59.70 | 73.30 | 81.80 | 94.20 | 105.0 | 121.0 |
| Cash Flow per Share 2 | 22.20 | 20.60 | 20.60 | 23.60 | 23.40 | 21.30 | 27.50 | 27.10 |
| Capex 1 | 1,879 | 1,639 | 1,050 | 1,564 | 817 | 2,054 | 1,877 | 1,925 |
| Capex / Sales | 7.85% | 6.71% | 3.62% | 5.4% | 3.04% | 7% | 5.87% | 5.51% |
| Announcement Date | 3/17/20 | 3/16/21 | 3/16/22 | 3/14/23 | 3/14/24 | - | - | - |
1TWD in Million2TWD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
342.5
TWD
Average target price
419.9
TWD
Spread / Average Target
+22.60%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -2.97% | 3.14B | |
| +14.05% | 7.43B | |
| +2.04% | 371M | |
| +8.10% | 254M | |
| -0.07% | 171M | |
| -55.21% | 141M | |
| +16.85% | 140M | |
| 0.00% | 122M | |
| +30.47% | 64.73M | |
| -12.01% | 64.34M |
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