Financials United Orthopedic Corporation

Equities

4129

TW0004129002

Medical Equipment, Supplies & Distribution

End-of-day quote Taipei Exchange 06:00:00 2024-06-04 pm EDT 5-day change 1st Jan Change
96.9 TWD -0.21% Intraday chart for United Orthopedic Corporation +2.65% +13.87%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025
Capitalization 1 3,270 2,461 3,734 7,445 9,350 -
Enterprise Value (EV) 1 3,270 2,461 3,734 7,445 10,252 10,256
P/E ratio 39.4 x - - - - -
Yield - - 5.23% 4.7% 5.41% 6.56%
Capitalization / Revenue - 0.96 x 1.18 x 1.89 x 2 x 1.75 x
EV / Revenue - 0.96 x 1.18 x 1.89 x 2.2 x 1.92 x
EV / EBITDA - - - - 7.4 x 6.45 x
EV / FCF - 16.2 x 53.2 x -102 x 24.6 x 25.6 x
FCF Yield - 6.19% 1.88% -0.98% 4.06% 3.91%
Price to Book - - 1.25 x 2.13 x 2.39 x 2.44 x
Nbr of stocks (in thousands) 88,390 78,112 78,112 87,481 96,487 -
Reference price 2 37.00 31.50 47.80 85.10 96.90 96.90
Announcement Date 3/29/21 3/29/22 3/28/23 3/21/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025
Net sales 1 - 2,571 3,169 3,930 4,664 5,341
EBITDA 1 - - - - 1,386 1,590
EBIT 1 - 161.4 341.6 543.3 686.3 765
Operating Margin - 6.28% 10.78% 13.82% 14.72% 14.32%
Earnings before Tax (EBT) - - - - - -
Net income 101.8 - - - - -
Net margin - - - - - -
EPS 0.9400 - - - - -
Free Cash Flow 1 - 152.3 70.16 -72.65 416 401
FCF margin - 5.93% 2.21% -1.85% 8.92% 7.51%
FCF Conversion (EBITDA) - - - - 30.01% 25.22%
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 - - 2.500 4.000 5.240 6.360
Announcement Date 3/29/21 3/29/22 3/28/23 3/21/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 Q2 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 739.8 744 928.1 933.3 934.4 1,134 1,066 1,124 1,146 1,362
EBITDA 1 - - - 211.4 273.5 - - 338 364 456
EBIT 1 60.92 71.54 101.8 114.6 171.2 155.8 124.9 167 183.5 210.5
Operating Margin 8.24% 9.62% 10.96% 12.28% 18.32% 13.73% 11.72% 14.86% 16.01% 15.46%
Earnings before Tax (EBT) - - - - - - - - - -
Net income - - - - - - - - - -
Net margin - - - - - - - - - -
EPS - - - - - - - - - -
Dividend per Share - - - - - - - - - -
Announcement Date 5/16/22 8/15/22 5/15/23 8/14/23 11/14/23 3/21/24 5/15/24 - - -
1TWD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - - 902 906
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) - - - - 0.6508 x 0.5698 x
Free Cash Flow 1 - 152 70.2 -72.7 416 401
ROE (net income / shareholders' equity) - - - 11.8% 13.2% 16%
ROA (Net income/ Total Assets) - - - 6.39% 7% 8.1%
Assets - - - - - -
Book Value Per Share 2 - - 38.30 39.90 40.60 39.70
Cash Flow per Share 2 - - - - 9.780 10.20
Capex 1 - 190 287 506 408 461
Capex / Sales - 7.38% 9.05% 12.89% 8.75% 8.63%
Announcement Date 3/29/21 3/29/22 3/28/23 3/21/24 - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
96.9 TWD
Average target price
126.7 TWD
Spread / Average Target
+30.72%
Consensus

Quarterly revenue - Rate of surprise

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