Global Testing Corporation Ltd
SGX:AYN
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P/FCFE
Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.
Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.
Valuation Scenarios
If P/FCFE returns to its 3-Year Average (5.5), the stock would be worth S$1.16 (9% downside from current price).
| Scenario | P/FCFE Value | Implied Price | Upside/Downside |
|---|---|---|---|
| Current Multiple | 6 | S$1.28 |
0%
|
| 3-Year Average | 5.5 | S$1.16 |
-9%
|
| 5-Year Average | 5.5 | S$1.16 |
-9%
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| Industry Average | 27.5 | S$5.84 |
+356%
|
| Country Average | 19.4 | S$4.11 |
+221%
|
Forward P/FCFE
Today’s price vs future free cash flow to equity
Peer Comparison
| Market Cap | P/FCFE | P/E | ||||
|---|---|---|---|---|---|---|
| TW |
G
|
Global Testing Corporation Ltd
SGX:AYN
|
42.7m SGD | 6 | 8.7 | |
| NL |
|
ASML Holding NV
AEX:ASML
|
471.1B EUR | 44.4 | 46.1 | |
| US |
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Lam Research Corp
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321B USD | 61.2 | 47.9 | |
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Applied Materials Inc
NASDAQ:AMAT
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308.8B USD | 49.2 | 39.4 | |
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KLA Corp
NASDAQ:KLAC
|
226.4B USD | 54.7 | 49.7 | |
| US |
B
|
Brooks Automation Inc
LSE:0HQ1
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210.4B USD | 7 025.7 | -3 636.7 | |
| JP |
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Tokyo Electron Ltd
TSE:8035
|
21.6T JPY | 67.4 | 37.6 | |
| JP |
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Advantest Corp
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|
20.2T JPY | 68.6 | 70 | |
| CN |
|
NAURA Technology Group Co Ltd
SZSE:002371
|
389.1B CNY | 55.4 | 70.5 | |
| US |
|
Teradyne Inc
NASDAQ:TER
|
53.9B USD | 83.2 | 97.3 | |
| JP |
|
Disco Corp
TSE:6146
|
7.8T JPY | 79.7 | 57.8 |
Market Distribution
| Min | 1.5 |
| 30th Percentile | 12.4 |
| Median | 19.4 |
| 70th Percentile | 33.6 |
| Max | 9 890.8 |
Other Multiples
Global Testing Corporation Ltd
Glance View
Global Testing Corp. Ltd. is an investment holding company. The company is headquartered in Hukou, Hsinchu. The company went IPO on 2005-08-24. The firm is engaged in the provision of testing services to customers in the semi-conductor industry segment. The firm provides testing services, such as wafer sorting and final testing, focusing on logic and mixed signal semiconductors used in consumer electronics and communication devices. As part of its testing services, it provides test program development, conversion and optimization services, load board and probe card design, and leases its testers to its customers for trial and pilot testing purposes on an ad hoc basis. The company also helps its customers to convert single-site testing to multi-site testing to shorter their turn-around time. The company provides various fixture designs for final test service, which include socket, lock, hange kit and load board components. The company operates mainly in Taiwan, Republic of China. Its customers are located in Taiwan, Republic of China, the United States and Singapore.
