| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 2022 | 5426 | 6606 | 4526 | 6234 | | 6723 | |
| TWSE:2022 | TPEX:5426 | TWSE:6606 | TWSE:4526 | TPEX:6234 | | TPEX:6723 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -7.0% | 1.5% | -0.1% | -12.2% | -16.0% | | -7.4% | |
| 3Y CAGR | -9.2% | -3.4% | -5.9% | -15.8% | -19.3% | | 1.5% | |
| Latest Twelve Months | -2.4% | 26.0% | -3.4% | -17.6% | -51.7% | | -30.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 2.8% | -0.2% | 19.5% | -3.8% | 11.5% | | 4.4% | |
| Prior Fiscal Year | 4.8% | -1.4% | 21.4% | -2.1% | 12.6% | | 8.8% | |
| Latest Fiscal Year | -2.1% | 1.7% | 17.3% | -18.7% | 8.1% | | 4.1% | |
| Latest Twelve Months | -2.5% | 5.4% | 17.1% | -16.4% | 6.1% | | 4.1% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.79x | 1.51x | 2.99x | 1.65x | 4.00x | | 1.41x | |
| EV / LTM EBIT | -32.1x | 28.2x | 17.4x | -10.0x | 65.7x | | 34.5x | |
| Price / LTM Sales | 0.33x | 2.08x | 3.91x | 1.12x | 4.16x | | 1.37x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.79x | 1.65x | 4.00x | | | | | |
| Historical EV / LTM Revenue | 0.75x | 0.94x | 1.41x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.25x | 1.31x | 1.38x | | | | | |
| (x) LTM Revenue | 672 | 672 | 672 | | | | | |
| (=) Implied Enterprise Value | 837 | 881 | 925 | | | | | |
| (-) Non-shareholder Claims * | (18) | (18) | (18) | | | | | |
| (=) Equity Value | 820 | 864 | 908 | | | | | |
| (/) Shares Outstanding | 26.4 | 26.4 | 26.4 | | | | | |
| Implied Value Range | 31.10 | 32.77 | 34.45 | | | | | |
| FX Rate: TWD/TWD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 31.10 | 32.77 | 34.45 | | 33.80 | | | |
| Upside / (Downside) | -8.0% | -3.0% | 1.9% | | | | | |