image

Key Info

Yulon Motor Co Ltd Web - www.yulon-motor.com.tw

Tel - 886-37-871-801

Next Reporting Date - 15.05.2019

Select Equity Data Snapshot

Automobile Manufacturers Sector Link to Midlincoln Rural Investment Banking Ideas

From Souvenirs into Consumer Discretionary Sector

Mount Maple Souvenirs Cons. Cyclicals

  • View Craft Comics
  • Down Load Craft Business Presentation
    Rural Investment Banking Craft News

  • Civil servant remanded over MACC probe into supply of souvenirs
  • Mimosa Festival: Fair of Souvenirs and Eco-Food
  • Souvenirs, secrets and Springsteen: the best of Sundance 2019

    Yulon Motor Co Ltd

    Automobiles & Components

    TAIWAN


    DCF Model Assumptions

    Risk Free Rate

    2.00%

    Country Equity Risk Premium

    6.00%

    Cost of Debt

    3.48%

    Cost of Debt

    3.48%

    Long Term Growth

    2.00%

    Beta Assumption

    0.70

    Current Market Cap mln$

    991.72

    Net Debt mln$

    4,522.59

    WACC Estimate

    3.97%

    Ordinary Current Price $

    0.63

    DCF Model

    < td style="font-size: 10px">13.91
    DCF20152016201720182019F2020F2021F2022F2023F2024F2025F2026F2027F2028F2029F
    Revenue3859.553481.123093.862924.532445.032124.341803.721494.131177.92968.17795.77654.07537.61441.88363.19
    EBITDA Costs3619.313178.572787.812924.532390.852126.791862.801607.891347.531157.58994.40854.22733.81630.37541.51
    EBITDA240.24302.55306.050.0054.18-2.46-59.08-113.76-169.61-189.40-198.62-200.15-196.20-188.49-178.31
    EBITDA Margin6.228.699.890.002.22-0.12-3.28-7.61-14.40-19.56-24.96-30.60-36.50-42.66-49.10
    Operating Costs3850.733412.103031.502924.532408.282086.971765.741455.571138.76931.03761.20622.35508.82416.01340.12
    Operating Profit8.8269.0262.360.0036.7537.3637.9738.5639.1637.1434.5731.7328.7825.8723.07
    Operating Margin0.231.982.020.001.501.762.112.583.323.844.344.855.355.856.35
    Pretax Costs3710.303386.032957.812924.532448.402163.001877.661602.151320.731120.73951.02807.00684.80581.10493.10
    PTP149.2495.09136.050.00-3.37-38.66-73.94-108.01-142.81-152.56-155.24-152.93-147.19-139.22-129.91
    Pretax Margin3.872.734.400.00-0.14-1.82-4.10-7.23-12.12-15.76-19.51-23.38-27.38-31.51-35.77
    Net Income Costs3753.963439.703018.642856.922396.812084.791772.861471.661164.01958.93789.98650.79536.13441.67363.85
    Net Income105.5941.4275.2367.6148.2339.5430.8622.479.245.803.281.480.21-0.66
    Net Margin2.741.192.432.311.971.861.711.501.180.950.730.500.270.05-0.18
    Revenue Less Capex3943.563612.743213.862924.532472.892132.101791.401462.421126.40911.18737.08596.25482.32390.17315.62
    Capex-84.01-131.62-120.000.00-27.86-7.7712.3231.7151.5256.9958.6957.8355.2851.7147.58
    Capex to Revenues-2.18-3.78-3.880.00-1.14-0.370.682.124.375.897.388.8410.2811.7013.10
    Revenue less FCF4069.973773.393785.832924.532777.002468.242159.551861.491557.051335.621145.68982.76843.00723.12620.28
    FCF-210.42-292.27-691.960.00-331.97-343.90-355.84-367.36-379.13-367.45-349.91-328.68-305.39-281.24-257.09
    FCF to Revenue-5.45-8.40-22.370.00-13.58-16.19-19.73-24.59-32.19-37.95-43.97-50.25-56.81-63.65-70.79

    TAIWAN Comparables

    tickercompanycountry Market Cap
    2019
    PE RATIO
    2019
    PE RATIO
    2020
    EV/EBITDA
    2019
    EV/EBITDA
    2020
    P/S
    2019
    DIVIDEND YIELD
    2019
    EBITDA Margin
    2019
    P/B
    2019
    ROE
    2019
    6 month return
    2019
    2105 TTCheng Shin Rubber Industry Co LtdTAIWAN 4297.0127.3220.468.297.491.203.1819.461.616.32-1.13
    2204 TTChina Motor CorpTAIWAN 1244.0711.1011.164.63-1.095.4016.960.735.8718.28
    2201 TTYulon Motor Co LtdTAIWAN 991.7213.31-32.19-0.354.105.990.431.8610.35
    2101 TTNan Kang Rubber Tire Co LtdTAIWAN 951.6447.0741.53--2.480.85#????!2.686.0339.53

    International Comparables

    tickercompanycountry Market Cap
    2019
    PE RATIO
    2019
    PE RATIO
    2020
    EV/EBITDA
    2019
    EV/EBITDA
    2020
    P/S
    2019
    DIVIDEND YIELD
    2019
    EBITDA Margin
    2019
    P/B
    2019
    ROE
    2019
    6 month return
    2019
    7203 JPToyota Motor CorpJAPAN 201493.459.678.3011.0610.660.753.2611.671.0110.695.82
    VOW3 GRVolkswagen AGGERMANY 88067.965.655.391.571.480.323.9015.030.6211.7610.29
    VOW GRVolkswagen AGGERMANY 88067.965.815.551.571.480.323.7115.030.6411.7615.86
    DAI GRDaimler AGGERMANY 69038.977.787.5510.1110.250.365.4610.900.8812.3710.00
    GM USGeneral Motors CoUNITED STATES 55568.736.016.213.083.130.383.9111.921.2122.4322.27
    BMW GRBayerische Motoren Werke AGGERMANY 54837.778.137.537.206.350.504.5013.270.8210.56-1.26
    7267 JPHonda Motor Co LtdJAPAN 50230.177.537.397.987.710.353.718.590.658.906.31
    TSLA USTesla IncUNITED STATES 42771.02-39.1921.6213.361.680.009.727.22-4.52-25.16
    F USFord Motor CoUNITED STATES 37501.737.557.242.262.330.256.388.061.0010.208.16
    6902 JPDenso CorpJAPAN 34196.9013.2211.825.565.380.893.2411.250.937.08-1.00
    CON GRContinental AGGERMANY 33739.8712.0910.435.274.810.662.9913.391.5713.429.01
    7201 JPNissan Motor Co LtdJAPAN 33718.168.567.673.213.030.326.327.310.637.36-6.95
    5108 JPBridgestone CorpJAPAN 30003.8410.7210.295.154.870.913.6817.071.3112.386.42
    005380 KSHyundai Motor CoSOUTH KOREA 24933.949.708.5610.759.890.293.077.500.524.9826.45
    FCA IMFiat Chrysler Automobiles NVBRITAIN 23832.994.904.521.821.770.196.6311.310.7316.890.86
    UG FPPeugeot SAFRANCE 23479.116.386.041.821.760.284.1210.951.0918.7410.70
    ML FPCie Generale des Etablissements MichelinFRANCE 23055.7810.199.395.284.960.863.6119.131.5515.8928.72
    HYUO LIHyundai Motor CoSOUTH KOREA 22648.83------#????!---17.04
    7269 JPSuzuki Motor CorpJAPAN 22240.5810.809.864.904.570.641.5213.431.5816.05-8.39
    ASII IJAstra International Tbk PTINDONESIA 21812.8713.1612.2410.579.861.253.2115.672.0515.8610.21
    1211 HKBYD Co LtdCHINA 21141.7435.5029.5812.4211.000.940.4111.022.126.384.63
    PAH3 GRPorsche Automobil Holding SEGERMANY 21027.794.474.339.717.86176.614.611735.910.5213.0916.31
    RNO FPRenault SAFRANCE 20130.464.574.462.502.380.325.9111.420.4610.26-7.48
    012330 KSHyundai Mobis Co LtdSOUTH KOREA 18946.499.338.494.854.480.611.828.230.677.3620.68
    7270 JPSubaru CorpJAPAN 18711.8213.998.934.293.070.665.299.451.319.50-7.19
    175 HKGeely Automobile Holdings LtdCHINA 18558.059.338.206.495.911.102.5015.562.2426.0714.50
    MG CNMagna International IncCANADA 17696.097.907.125.095.020.432.2610.491.4019.7914.02
    2238 HKGuangzhou Automobile Group Co LtdCHINA 17151.006.375.7112.2110.931.515.329.670.9014.9015.87
    000270 KSKia Motors CorpSOUTH KOREA 14993.938.628.244.103.920.312.346.830.607.1855.73
    BJAUT INBajaj Auto LtdINDIA 12581.6219.6317.9717.8314.573.282.1417.453.9120.5526.51