Stock 2349 RITEK CORPORATION
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Financials RITEK Corporation

Equities

2349

TW0002349008

Computer Hardware

End-of-day quote Taiwan S.E.
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
7.78 TWD +5.42% Intraday chart for RITEK Corporation +7.16% -5.12%
Mar. 15 RITEK Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 CI
2023 RITEK Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 13,869 9,143 7,561 8,151 5,279 5,688
Enterprise Value (EV) 1 18,469 12,905 10,540 10,423 7,640 7,414
P/E ratio -10.7 x -4.05 x -8.43 x -23.9 x -35.4 x -18.8 x
Yield - - - - - -
Capitalization / Revenue 1.48 x 1.18 x 1.15 x 1.09 x 0.68 x 0.75 x
EV / Revenue 1.97 x 1.66 x 1.6 x 1.39 x 0.99 x 0.97 x
EV / EBITDA 34.6 x 17.9 x 24.7 x 16.2 x 12.5 x 15.4 x
EV / FCF -14.7 x 14.8 x 11 x 34.1 x -12.7 x 13.1 x
FCF Yield -6.82% 6.74% 9.08% 2.93% -7.89% 7.65%
Price to Book 1.51 x 1.3 x 1.26 x 1.4 x 0.91 x 1.04 x
Nbr of stocks (in thousands) 693,682 693,682 693,680 693,680 693,680 693,680
Reference price 2 19.99 13.18 10.90 11.75 7.610 8.200
Announcement Date 4/1/19 3/31/20 3/31/21 3/31/22 3/16/23 3/15/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 9,359 7,779 6,578 7,477 7,739 7,630
EBITDA 1 533.2 721.8 427.3 642.5 611.4 481.5
EBIT 1 -1,032 -976 -481.9 -258.9 -274.8 -373.3
Operating Margin -11.02% -12.55% -7.33% -3.46% -3.55% -4.89%
Earnings before Tax (EBT) 1 -1,053 -2,470 -729.8 -3.985 20.47 -146
Net income 1 -1,293 -2,255 -897.4 -341.2 -149.3 -303.3
Net margin -13.81% -28.99% -13.64% -4.56% -1.93% -3.98%
EPS 2 -1.870 -3.251 -1.294 -0.4919 -0.2152 -0.4373
Free Cash Flow 1 -1,260 869.5 956.9 305.6 -602.8 567.4
FCF margin -13.46% 11.18% 14.55% 4.09% -7.79% 7.44%
FCF Conversion (EBITDA) - 120.45% 223.95% 47.56% - 117.83%
FCF Conversion (Net income) - - - - - -
Dividend per Share - - - - - -
Announcement Date 4/1/19 3/31/20 3/31/21 3/31/22 3/16/23 3/15/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 4,600 3,762 2,979 2,272 2,361 1,726
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 8.627 x 5.211 x 6.973 x 3.537 x 3.862 x 3.585 x
Free Cash Flow 1 -1,260 869 957 306 -603 567
ROE (net income / shareholders' equity) -8.89% -21.1% -7.47% -1.21% -0.64% -3.63%
ROA (Net income/ Total Assets) -2.73% -2.73% -1.49% -0.83% -0.88% -1.21%
Assets 1 47,297 82,525 60,345 40,906 16,910 25,053
Book Value Per Share 2 13.20 10.10 8.680 8.400 8.410 7.860
Cash Flow per Share 2 5.040 5.830 6.040 5.570 5.880 6.630
Capex 1 1,160 637 319 261 621 418
Capex / Sales 12.39% 8.19% 4.85% 3.49% 8.02% 5.48%
Announcement Date 4/1/19 3/31/20 3/31/21 3/31/22 3/16/23 3/15/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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