Valuation Snapshot
| Winsorized Range | $178.64 — $254.94 |
| Winsorized Average | $216.56 |
| Upside to Live Price | -16.86% |
| Full Median Range | $183.63 — $261.82 |
| Full Median Average | $222.64 |
| Upside to Live Price | -14.53% |
| Live Price | $260.48 |
| Industry | Consumer Electronics |
| Peers in Table | 15 |
Industry Peers
| Ticker | Rank | Name | Rev TTM (M) | Trailing P/E | Forward P/E | Trailing EV/EBITDA | Forward EV/EBITDA | Trailing EV/EBIT | Forward EV/EBIT |
|---|---|---|---|---|---|---|---|---|---|
| AAPL | 1 | Apple Inc. | 435,617 | 34.24 | 30.30 | 26.65 | 23.88 | 28.90 | 25.42 |
| 005930.KS | 2 | Samsung Electronics C… | 233,831 | 17.69 | 16.52 | 18.00 | 20.35 | 18.33 | 18.39 |
| 1810.HK | 3 | Xiaomi Corporation | 62,328 | 29.56 | 23.66 | 34.41 | 26.34 | 30.66 | 25.80 |
| 81810.HK | 4 | Xiaomi Corporation | 62,328 | 29.56 | 23.66 | 34.41 | 26.34 | 30.66 | 25.80 |
| 0QYR.L | 5 | Panasonic Holdings Co… | 53,026 | 21.77 | 22.66 | 8.28 | 8.71 | 12.81 | 12.54 |
| 3CP.F | 6 | Xiaomi Corporation | 49,602 | 50.04 | 44.52 | 33.46 | 29.92 | 69.06 | 68.41 |
| 0751.HK | 7 | Skyworth Group Limited | 19,946 | 4.31 | 4.98 | 2.69 | 2.49 | 3.74 | 3.39 |
| 034220.KS | 8 | LG Display Co., Ltd. | 18,089 | 18.64 | 18.64 | 1.11 | 1.10 | 11.35 | 7.57 |
| 002241.SZ | 9 | Goertek Inc. | 13,790 | 45.07 | 43.39 | 24.04 | 23.51 | 42.90 | 41.77 |
| 6971.T | 10 | Kyocera Corporation | 13,655 | 27.77 | 27.58 | 9.40 | 9.23 | 25.49 | 23.09 |
| 6753.T | 11 | Sharp Corporation | 12,839 | 4.45 | 3.00 | 5.98 | 6.38 | 14.04 | 15.13 |
| 000829.SZ | 12 | Telling Telecommunica… | 11,134 | — | — | 50.31 | 48.85 | 178.65 | 179.57 |
| 600060.SS | 13 | Hisense Visual Techno… | 8,416 | 12.45 | 10.10 | 10.60 | 8.79 | 11.06 | 9.47 |
| HEXABS.XD | 14 | Hexagon AB | 5,992 | 26.13 | 38.48 | 17.04 | 19.26 | 21.81 | 32.26 |
| 603341.SS | 15 | Shanghai Longcheer Te… | 5,935 | 38.78 | 38.78 | 40.12 | 40.12 | 51.65 | 51.65 |
| DIXON.BO | 16 | Dixon Technologies (I… | 5,560 | 45.28 | 30.19 | 29.03 | 19.35 | 32.26 | 24.36 |
Implied Valuation Analysis
| Line Item | Trailing P/E | Forward P/E | Trailing EV/EBITDA | Forward EV/EBITDA | Trailing EV/EBIT | Forward EV/EBIT |
|---|---|---|---|---|---|---|
| Winsorized Median Multiple | 26.13 | 23.66 | 17.52 | 19.31 | 23.65 | 23.72 |
| Full Median Multiple | 26.95 | 23.66 | 18.00 | 19.35 | 25.49 | 24.36 |
| Industry Average Multiple | 26.54 | 24.73 | 21.26 | 19.38 | 36.97 | 35.95 |
| Market Implied Multiple | 34.24 | 30.30 | 26.65 | 23.88 | 28.90 | 25.42 |
| AAPL Multiple | 34.24 | 30.30 | 26.65 | 23.88 | 28.90 | 25.42 |
| (*) Net Income / EBITDA / EBIT (M) | 117,777 | 133,086 | 152,979 | 170,720 | 141,070 | 160,391 |
| Winsorized Enterprise Value (M) | N/A | N/A | 2,679,827 | 3,296,188 | 3,336,356 | 3,805,158 |
| Full Median Enterprise Value (M) | N/A | N/A | 2,753,375 | 3,303,916 | 3,595,387 | 3,906,519 |
| (-) Net Debt (M) | 45,192 | 45,192 | 45,192 | 45,192 | 45,192 | 45,192 |
| Winsorized Equity Value (M) | 3,078,013 | 3,148,651 | 2,634,635 | 3,250,996 | 3,291,164 | 3,759,966 |
| Full Median Equity Value (M) | 3,174,502 | 3,148,651 | 2,708,183 | 3,258,724 | 3,550,195 | 3,861,327 |
| (/) Shares Outstanding (M) | 14,748 | 14,748 | 14,748 | 14,748 | 14,748 | 14,748 |
| Winsorized Fair Value | $208.70 | $213.49 | $178.64 | $220.43 | $223.16 | $254.94 |
| Full Median Fair Value | $215.25 | $213.49 | $183.63 | $220.96 | $240.72 | $261.82 |
| Current Price | $260.48 | $260.48 | $260.48 | $260.48 | $260.48 | $260.48 |
| Upside / Downside (Winsorized) | -19.88% | -18.04% | -31.42% | -15.37% | -14.33% | -2.13% |
| Safety Margin | 30.0% | 30.0% | 30.0% | 30.0% | 30.0% | 30.0% |
| Buy Price (70% of Winsorized Fair) | $146.09 | $149.45 | $125.05 | $154.30 | $156.21 | $178.46 |
| Action | WAIT | WAIT | WAIT | WAIT | WAIT | WAIT |