Machvision Inc

TWSE:3563

대만 / 정보 기술 / 반도체 및 반도체 장비

개요

뉴스

10년 현금흐름할인(DCF) 반영된 매출

주가

515.00 TWD

적정가치

301.33 TWD

Metrics	Range	Conclusion
Discount Rate	11.3% - 10.3%	10.8%
Terminal Revenue Multiple	14.6x - 16.1x	15.3x
Fair Value	NT$ 284.13 - NT$ 319.63	NT$ 301.33
Upside	-44.8% - -37.9%	-41.5%

0.0%

Revenue 10y CAGR

31.6%

10y Avg EBITDA Margin

-1.0%

Unlevered FCF 10y CAGR

10-Year DCF Model: Revenue Exit

주가

515.00 TWD

적정가치

301.33 TWD

상승 여력 있음

-41.5%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(TWD in millions)		Input Projections
Fiscal Years Ending	Dec-23	Dec-24	Dec-25	Dec-26	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Dec-32	Dec-33

Revenue	1,761	1,761	1,761	1,761	1,761	1,761	1,761	1,761	1,761	1,761	1,761
% Growth	-16.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

EBITDA	487	557	557	557	557	557	557	557	557	557	557
% of Revenue	27.6%	31.6%	31.6%	31.6%	31.6%	31.6%	31.6%	31.6%	31.6%	31.6%	31.6%

지원하는 계산법

Calculation of Free Cash Flow

Discounting Periods

Discounting Factors

Calculation of Enterprise Value

Equity Waterfall

Historical Financials

Current Trading Multiples


Calculation of Free Cash Flow

Projected Unlevered Cash Flow
		Dec-24	Dec-25	Dec-26	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Dec-32	Dec-33

EBITDA		557	557	557	557	557	557	557	557	557	557
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0
D&A		(24)	(24)	(24)	(24)	(24)	(24)	(24)	(24)	(24)	(24)

EBIT		533	533	533	533	533	533	533	533	533	533
Pro forma Taxes		(101)	(101)	(101)	(101)	(101)	(101)	(101)	(101)	(101)	(101)
NOPAT	371	432	432	432	432	432	432	432	432	432	432

Capital Expenditures	(25)	(16)	(16)	(19)	(19)	(19)	(19)	(19)	(19)	(19)	(19)
NWC Investment	109	0	0	0	0	0	0	0	0	0	0
(+) D&A	28	24	24	24	24	24	24	24	24	24	24

Free Cash Flow	484	440	440	437	437	437	437	437	437	437	437
% Growth			0%	-1%	0%	0%	0%	0%	0%	0%	0%

로딩 에러

Machvision Inc

TWSE:3563

대만 / 정보 기술 / 반도체 및 반도체 장비

10년 현금흐름할인(DCF) 반영된 매출