| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 3025 | 3704 | 763 | NOKB.F | 600498 | | 8034 | |
| TWSE:3025 | TWSE:3704 | SEHK:763 | OTCPK:NOKB.F | SHSE:600498 | | TPEX:8034 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 3.6% | 1.6% | 6.0% | -3.8% | 3.0% | | 0.7% | |
| 3Y CAGR | 8.0% | 0.4% | 1.9% | -4.7% | 2.7% | | -6.9% | |
| Latest Twelve Months | -0.8% | 2.5% | 3.4% | 1.1% | -14.2% | | -17.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 17.2% | 4.4% | 7.0% | 9.5% | 1.9% | | 11.8% | |
| Prior Fiscal Year | 29.8% | 4.2% | 8.1% | 9.4% | 1.7% | | 16.2% | |
| Latest Fiscal Year | 29.5% | 1.7% | 8.2% | 11.3% | 3.6% | | 14.4% | |
| Latest Twelve Months | 25.9% | 2.6% | 6.0% | 8.1% | 2.2% | | 19.3% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 3.67x | 0.55x | 1.41x | 0.98x | 1.78x | | 1.71x | |
| EV / LTM EBIT | 14.2x | 20.8x | 23.6x | 12.2x | 80.2x | | 8.8x | |
| Price / LTM Sales | 4.18x | 0.55x | 1.55x | 1.14x | 1.47x | | 2.84x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.55x | 1.41x | 3.67x | | | | | |
| Historical EV / LTM Revenue | 1.11x | 2.08x | 2.56x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.64x | 1.72x | 1.81x | | | | | |
| (x) LTM Revenue | 485 | 485 | 485 | | | | | |
| (=) Implied Enterprise Value | 793 | 835 | 877 | | | | | |
| (-) Non-shareholder Claims * | 548 | 548 | 548 | | | | | |
| (=) Equity Value | 1,341 | 1,383 | 1,424 | | | | | |
| (/) Shares Outstanding | 56.2 | 56.2 | 56.2 | | | | | |
| Implied Value Range | 23.85 | 24.59 | 25.33 | | | | | |
| FX Rate: TWD/TWD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 23.85 | 24.59 | 25.33 | | 24.85 | | | |
| Upside / (Downside) | -4.0% | -1.1% | 1.9% | | | | | |