Company Valuation: IC Plus Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,529 5,140 3,615 3,332 7,260 4,705
Change - 236.25% -29.67% -7.81% 117.86% -35.19%
Enterprise Value (EV) 1 1,165 4,692 3,116 3,025 5,123 2,626
Change - 302.9% -33.59% -2.92% 69.34% -48.74%
P/E -13x 83.8x 24.2x -27.3x -54.7x -80.8x
PBR 2.23x 6.76x 4.11x 4.88x 2.9x 1.93x
PEG - -1x 0x 0x 2.5x 1.4x
Capitalization / Revenue 1.84x 4.64x 2.77x 4.64x 11.3x 7.12x
EV / Revenue 1.4x 4.24x 2.39x 4.21x 7.95x 3.97x
EV / EBITDA -160x 40.4x 16.1x -108x -70.7x -47.9x
EV / EBIT -39.5x 47.4x 17.8x -53.4x -48.9x -29.9x
EV / FCF -58.7x 24.2x 83.8x -164x -148x -34x
FCF Yield -1.7% 4.13% 1.19% -0.61% -0.67% -2.94%
Dividend per Share 2 - 0.6 1.2 - - -
Rate of return - 0.8% 2.29% - - -
EPS 2 -1.712 0.89 2.17 -1.77 -1.377 -0.6039
Distribution rate - 67.4% 55.3% - - -
Net sales 1 832.3 1,107 1,303 718 644 661.1
EBITDA 1 -7.287 116.1 193.6 -28.08 -72.47 -54.82
EBIT 1 -29.48 98.94 175.4 -56.63 -104.7 -87.88
Net income 1 -115.1 61.12 150.1 -120.5 -113.8 -58.22
Net Debt 1 -364 -448 -498.7 -307.3 -2,137 -2,079
Reference price 2 22.30 74.60 52.50 48.40 75.30 48.80
Nbr of stocks (in thousands) 68,546 68,899 68,850 68,850 96,414 96,414
Announcement Date 29/03/21 21/03/22 17/03/23 29/05/24 25/03/25 13/03/26
1TWD in Million2TWD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 227M
57.65x9.25x46.62x1.41% 196B
64.46x9.31x17.98x-.--% 98.4B
46.22x9.83x34.33x1.15% 58.74B
49.7x - - 0.2% 50.23B
45.62x8.54x30.13x0.97% 50.43B
7944.56x75.12x2384.65x - 42.4B
30.44x8.36x23.41x1.11% 40.56B
49.1x8.18x33.16x0.9% 37.6B
36.41x8.43x27.76x0.54% 35B
Average 924.91x 17.13x 324.75x 0.79% 60.95B
Weighted average by Cap. 601.33x 14.07x 212.37x 0.88%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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