Company Valuation: Shuttle Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 4,483 6,894 3,967 6,233 7,178 6,113
Change - 53.79% -42.47% 57.14% 15.15% -14.83%
Enterprise Value (EV) 1 2,642 5,380 2,807 5,183 6,474 5,539
Change - 103.67% -47.82% 84.63% 24.91% -14.44%
P/E 77.6x 35.6x 72.2x 504x 697x -88.8x
PBR 1.33x 1.94x 1.08x 1.7x 1.98x 1.75x
PEG - 0x -1x -6.5x -41.7x 0x
Capitalization / Revenue 2.57x 3.74x 2.29x 3.65x 4.31x 3.51x
EV / Revenue 1.51x 2.92x 1.62x 3.03x 3.88x 3.18x
EV / EBITDA 29.8x 185x 79.9x 1,480x -271x -81.2x
EV / EBIT 47.6x 2,514x 392x -247x -129x -60.3x
EV / FCF 3.67x -6.55x -8.66x 28.2x 417x 86.5x
FCF Yield 27.3% -15.3% -11.6% 3.54% 0.24% 1.16%
Dividend per Share 2 - - 0.2 0.17 0.17 -
Rate of return - - 1.73% 0.94% 0.81% -
EPS 2 0.17 0.57 0.16 0.036 0.03 -0.2005
Distribution rate - - 125% 472% 567% -
Net sales 1 1,744 1,842 1,735 1,710 1,667 1,742
EBITDA 1 88.54 29.12 35.14 3.502 -23.91 -68.25
EBIT 1 55.49 2.14 7.164 -21 -50.21 -91.91
Net income 1 58.11 195.5 55.08 12.37 10.8 -68.87
Net Debt 1 -1,841 -1,514 -1,159 -1,050 -703.3 -573.6
Reference price 2 13.20 20.30 11.55 18.15 20.90 17.80
Nbr of stocks (in thousands) 339,627 339,627 343,427 343,427 343,427 343,427
Announcement Date 26/03/21 31/03/22 24/03/23 22/03/24 25/03/25 27/03/26
1TWD in Million2TWD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 161M
13.03x0.39x11.16x5.51% 41.72B
35.77x5.77x28.18x1.97% 19.1B
17.98x0.29x12.68x3.94% 7.48B
18.42x0.2x9.59x3.39% 5.45B
17.93x0.34x10.23x4.07% 3.06B
12.96x1.42x7.4x6.11% 2.33B
Average 19.35x 1.40x 13.21x 4.17% 11.33B
Weighted average by Cap. 19.55x 1.69x 15.16x 4.33%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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