Semilux International Ltd. Ordinary Shares (SELX) 10-Year Financial Performance & Capital Metrics

SELX • • Industrial / General

TechnologyTech Hardware & EquipmentOptical & Photonics SystemsLaser & Optical Components

AboutSemilux International Ltd., an optical technology company, designs and produces optics and fluorescent modules for the needs of clients. Its products include solid state AI LiDAR, AI ADB headlight systems, AI optical image fusion systems, and IC design services, as well as other products, such as filters, diffusers, color wheels, fluorescent wheels, and gobo filters. Its products are used in autonomous driving and intelligent lighting industries and unmanned aerial vehicles. The company was founded in 2009 and is headquartered in Taichung, Taiwan.Show more

Revenue $33M -67.9%
EBITDA -$51M -760.4%
Net Income -$50M -437.4%
EPS (Diluted) -6.30 -436.9%
Gross Margin -46.31% -203.3%
EBITDA Margin -154.48% -2583.9%
Operating Margin -228.77% -1109.9%
Net Margin -152.33% -1152.3%
ROE -15.91% -468.5%
ROIC -24.58% -299.4%
Debt/Equity 0.52 -0.8%
Interest Coverage -25.55 -280.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.0x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 11 (bottom 11%)
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-30.43%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg-8.71%

5Y Avg-8.71%

3Y Avg-9.56%

Latest-20.84%

Peer Comparison

Laser & Optical Components

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NOVTNovanta Inc.	4.76B	133.18	75.24	7.67%	5.5%	6.59%	2.97%	0.63
SELXSemilux International Ltd. Ordinary Shares	34.43M	0.92	-0.15	-67.94%	-165.22%	-31.41%		0.52
COHRCoherent, Inc.	30.8B	195.96	-376.85	23.42%	4.13%	2.88%	0.63%	0.46

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023
Sales/Revenue+	97.54M	126.13M	102.44M	32.84M
Revenue Growth %	-	0.29%	-0.19%	-0.68%
Cost of Goods Sold+	62.38M	69.31M	56.52M	48.05M
COGS % of Revenue	0.64%	0.55%	0.55%	1.46%
Gross Profit+	35.16M	56.82M	45.91M	-15.21M
Gross Margin %	0.36%	0.45%	0.45%	-0.46%
Gross Profit Growth %	-	0.62%	-0.19%	-1.33%
Operating Expenses+	61.4M	69.8M	65.03M	59.92M
OpEx % of Revenue	0.63%	0.55%	0.63%	1.82%
Selling, General & Admin	32.35M	28.88M	38.18M	35.72M
SG&A % of Revenue	0.33%	0.23%	0.37%	1.09%
Research & Development	29.05M	40.92M	26.84M	24.2M
R&D % of Revenue	0.3%	0.32%	0.26%	0.74%
Other Operating Expenses	0	0	0	0
Operating Income+	-26.24M	-12.97M	-19.37M	-75.13M
Operating Margin %	-0.27%	-0.1%	-0.19%	-2.29%
Operating Income Growth %	-	0.51%	-0.49%	-2.88%
EBITDA+	-8.09M	23.95M	-5.9M	-50.73M
EBITDA Margin %	-0.08%	0.19%	-0.06%	-1.54%
EBITDA Growth %	-	3.96%	-1.25%	-7.6%
D&A (Non-Cash Add-back)	18.15M	36.92M	13.47M	24.4M
EBIT	-26.24M	-27.02M	-19.37M	-59.07M
Net Interest Income+	49K	-1.78M	578K	11.74M
Interest Income	49K	419K	3.46M	14.68M
Interest Expense	0	2.2M	2.88M	2.94M
Other Income/Expense	-10.69M	-16.24M	40.82M	13.12M
Pretax Income+	-36.93M	-29.21M	21.45M	-62.01M
Pretax Margin %	-0.38%	-0.23%	0.21%	-1.89%
Income Tax+	2.87M	1.3M	6.43M	1.02M
Effective Tax Rate %	0.65%	0.39%	0.69%	0.81%
Net Income+	-23.84M	-11.44M	14.83M	-50.03M
Net Margin %	-0.24%	-0.09%	0.14%	-1.52%
Net Income Growth %	-	0.52%	2.3%	-4.37%
Net Income (Continuing)	-39.8M	-30.51M	15.02M	-63.03M
Discontinued Operations	0	0	0	0
Minority Interest	31.36M	15.19M	71.36M	58.36M
EPS (Diluted)+	-0.85	-1.44	1.87	-6.30
EPS Growth %	-	-0.69%	2.3%	-4.37%
EPS (Basic)	-0.85	-1.44	1.87	-6.30
Diluted Shares Outstanding	28.15M	7.94M	7.94M	7.94M
Basic Shares Outstanding	28.05M	7.94M	7.94M	7.94M
Dividend Payout Ratio	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023
Total Current Assets+	403.75M	450.28M	477.43M	354.85M
Cash & Short-Term Investments	287.94M	290.47M	299.34M	202.47M
Cash Only	287.94M	290.47M	299.34M	202.47M
Short-Term Investments	0	0	0	0
Accounts Receivable	17.52M	24.66M	6.41M	5.52M
Days Sales Outstanding	65.58	71.35	22.83	61.36
Inventory	18.87M	27.54M	36.77M	47.75M
Days Inventory Outstanding	110.4	145.01	237.42	362.74
Other Current Assets	77.11M	101.52M	124.68M	92.11M
Total Non-Current Assets+	116.93M	111.03M	69.62M	94.07M
Property, Plant & Equipment	87.23M	80.11M	61.05M	55.91M
Fixed Asset Turnover	1.12x	1.57x	1.68x	0.59x
Goodwill	0	0	0	0
Intangible Assets	10.21M	0	0	0
Long-Term Investments	0	0	0	0
Other Non-Current Assets	19.49M	23.51M	7.62M	38.16M
Total Assets+	520.68M	561.3M	547.06M	448.92M
Asset Turnover	0.19x	0.22x	0.19x	0.07x
Asset Growth %	-	0.08%	-0.03%	-0.18%
Total Current Liabilities+	94.42M	144.6M	152.13M	122.82M
Accounts Payable	4.87M	8.04M	1.7M	127K
Days Payables Outstanding	28.5	42.34	10.95	0.96
Short-Term Debt	67.1M	105.56M	129.44M	97.32M
Deferred Revenue (Current)	0	1000K	1000K	0
Other Current Liabilities	11.71M	544K	465K	545K
Current Ratio	4.28x	3.11x	3.14x	2.89x
Quick Ratio	4.08x	2.92x	2.90x	2.50x
Cash Conversion Cycle	147.48	174.02	249.3	423.13
Total Non-Current Liabilities+	54.46M	75.74M	49.02M	43.23M
Long-Term Debt	23.42M	52.93M	47.7M	43.16M
Capital Lease Obligations	28.28M	19.98M	1.32M	0
Deferred Tax Liabilities	0	0	0	73K
Other Non-Current Liabilities	2.76M	2.83M	0	0
Total Liabilities	148.88M	220.34M	201.16M	166.05M
Total Debt+	129.54M	191.91M	183.01M	148.42M
Net Debt	-158.41M	-98.56M	-116.33M	-54.05M
Debt / Equity	0.35x	0.56x	0.53x	0.52x
Debt / EBITDA	-	8.01x	-	-
Net Debt / EBITDA	-	-4.12x	-	-
Interest Coverage	-	-5.91x	-6.72x	-25.55x
Total Equity+	371.8M	340.96M	345.9M	282.87M
Equity Growth %	-	-0.08%	0.01%	-0.18%
Book Value per Share	13.21	42.96	43.58	35.64
Total Shareholders' Equity	340.44M	325.77M	274.54M	224.51M
Common Stock	281.51M	281.51M	68K	68K
Retained Earnings	13.76M	-661K	3.59M	-46.8M
Treasury Stock	0	0	0	0
Accumulated OCI	-1.19M	-1.44M	10.72M	11.08M
Minority Interest	31.36M	15.19M	71.36M	58.36M

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023
Cash from Operations+	-3.42M	-20.96M	36.5M	-38.06M
Operating CF Margin %	-0.04%	-0.17%	0.36%	-1.16%
Operating CF Growth %	-	-5.12%	2.74%	-2.04%
Net Income	-23.84M	-30.51M	15.02M	-50.03M
Depreciation & Amortization	31.18M	36.92M	24.8M	24.4M
Stock-Based Compensation	0	0	0	0
Deferred Taxes	0	-974K	6.43M	1.02M
Other Non-Cash Items	-12.02M	0	1.02M	-13.24M
Working Capital Changes	1.26M	-26.4M	-10.78M	-209K
Change in Receivables	-1.16M	-7.13M	16.73M	1.15M
Change in Inventory	4.13M	-8.67M	-9.44M	-10.98M
Change in Payables	0	0	0	-1.57M
Cash from Investing+	-52.56M	-19.42M	-29.1M	-23.57M
Capital Expenditures	-3.01M	-19.43M	-28.42M	-23.66M
CapEx % of Revenue	0.03%	0.15%	0.28%	0.72%
Acquisitions	-	-	-	-
Investments	-	-	-	-
Other Investing	-49.54M	10K	825K	93K
Cash from Financing+	82.33M	67.97M	24.64M	-67.82M
Debt Issued (Net)	-	-	-	-
Equity Issued (Net)	-	-	-	-
Dividends Paid	0	0	0	0
Share Repurchases	-	-	-	-
Other Financing	69.37M	0	0	-31.15M
Net Change in Cash	-	-	-	-
Free Cash Flow+	-6.44M	-40.38M	8.08M	-61.72M
FCF Margin %	-0.07%	-0.32%	0.08%	-1.88%
FCF Growth %	-	-5.27%	1.2%	-8.64%
FCF per Share	-0.23	-5.09	1.02	-7.78
FCF Conversion (FCF/Net Income)	0.14x	1.83x	2.46x	0.76x
Interest Paid	1.27M	1.69M	2.69M	3.02M
Taxes Paid	0	458K	2.41M	1.44M

Key Ratios

Metric	2020	2021	2022	2023
Return on Equity (ROE)	-6.41%	-3.21%	4.32%	-15.91%
Return on Invested Capital (ROIC)	-9.22%	-4.27%	-6.16%	-24.58%
Gross Margin	36.05%	45.05%	44.82%	-46.31%
Net Margin	-24.45%	-9.07%	14.48%	-152.33%
Debt / Equity	0.35x	0.56x	0.53x	0.52x
Interest Coverage	-	-5.91x	-6.72x	-25.55x
FCF Conversion	0.14x	1.83x	2.46x	0.76x
Revenue Growth	-	29.32%	-18.79%	-67.94%

Revenue by Segment

	2023
Other Member	156K
Other Member Growth	-

Revenue by Geography

	2023
CHINA	20.52M
CHINA Growth	-
GERMANY	7.49M
GERMANY Growth	-
Other Member	3.18M
Other Member Growth	-
TAIWAN	1.66M
TAIWAN Growth	-

Frequently Asked Questions

Growth & Financials

Semilux International Ltd. Ordinary Shares (SELX) reported $48.0M in revenue for fiscal year 2023. This represents a 51% decrease from $97.5M in 2020.

Semilux International Ltd. Ordinary Shares (SELX) saw revenue decline by 67.9% over the past year.

Semilux International Ltd. Ordinary Shares (SELX) reported a net loss of $79.3M for fiscal year 2023.

Dividend & Returns

Semilux International Ltd. Ordinary Shares (SELX) has a return on equity (ROE) of -15.9%. Negative ROE indicates the company is unprofitable.

Semilux International Ltd. Ordinary Shares (SELX) had negative free cash flow of $81.9M in fiscal year 2023, likely due to heavy capital investments.

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