ADLINK Technology market cap is NT$14.1 b, and annual revenue was NT$10.48 b in FY 2018

ADLINK Technology Gross profit (Q3, 2019)977.3 M

ADLINK Technology Gross profit margin (Q3, 2019), %40.7%

ADLINK Technology Net income (Q3, 2019)97.5 M

ADLINK Technology EBIT (Q3, 2019)130.7 M

ADLINK Technology Cash, 30-Sept-20191.9 B

ADLINK Technology EV13.3 B

ADLINK Technology revenue was NT$10.48 b in FY, 2018 which is a 1.8% year over year decrease from the previous period.

ADLINK Technology revenue breakdown by business segment: 99.2% from Sale of Goods and 0.8% from Other

ADLINK Technology revenue breakdown by geographic segment: 14.1% from America, 22.2% from Mainland China, 50.0% from Asia Pacific and 13.6% from Europe

TWD | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Revenue | 9.6b | 10.7b | 10.5b |

| 11% | (2%) | |

## Cost of goods sold | 5.4b | 6.7b | 6.8b |

## Gross profit | 4.2b | 4.0b | 3.7b |

| 44% | 37% | 36% |

## Sales and marketing expense | 1.1b | 1.0b | 1.1b |

## R&D expense | 1.6b | 1.6b | 1.5b |

## General and administrative expense | 961.6m | 889.6m | 814.5m |

## Operating expense total | 3.6b | 3.5b | 3.4b |

## EBIT | 595.9m | 475.0m | 289.9m |

| 6% | 4% | 3% |

## Interest expense | 15.7m | 18.0m | 16.7m |

## Interest income | 6.9m | 10.6m | 4.9m |

## Pre tax profit | 531.5m | 505.6m | 302.0m |

## Income tax expense | 100.4m | 115.4m | 57.4m |

## Net Income | 431.1m | 390.2m | 244.6m |

## EPS | 2.0 | 1.8 | 1.1 |

TWD | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 2.3b | 2.7b | 2.9b | 2.3b | 2.7b | 2.5b | 2.7b | 2.6b | 2.4b |

## Cost of goods sold | 2.0b | 1.7b | 1.8b | 1.4b | 1.8b | 1.1b | 1.6b | 1.5b | 1.4b |

## Gross profit | 317.2m | 1.0b | 1.1b | 811.6m | 927.8m | 1.4b | 1.1b | 1.1b | 977.3m |

| 14% | 38% | 37% | 36% | 35% | 58% | 40% | 41% | 41% |

## Sales and marketing expense | 238.0m | 256.6m | 249.3m | 246.0m | 274.2m | 266.1m | 269.5m | 272.3m | 260.3m |

## R&D expense | 380.6m | 397.1m | 404.5m | 371.1m | 380.3m | 368.8m | 352.4m | 377.9m | 354.8m |

## General and administrative expense | 189.1m | 255.7m | 244.6m | 189.5m | 203.3m | 188.3m | 269.8m | 242.9m | 230.3m |

## Operating expense total | 807.7m | 909.5m | 898.4m | 806.6m | 857.8m | 823.2m | 891.6m | 893.1m | 845.3m |

## EBIT | 109.2m | 113.0m | 158.4m | 4.6m | 70.4m | 81.6m | 166.9m | 160.8m | 130.7m |

| 5% | 4% | 5% | 0% | 3% | 3% | 6% | 6% | 5% |

## Interest expense | 4.0m | 4.4m | 4.5m | 4.0m | 4.8m | 3.6m | 6.4m | 8.9m | 8.5m |

## Interest income | 381.0k | 1.7m | 843.0k | ||||||

## Pre tax profit | 39.1m | 149.5m | 210.4m | 17.2m | 59.3m | 75.8m | 155.0m | 150.1m | 115.5m |

## Income tax expense | 15.3m | 27.9m | 44.8m | (4.6m) | 12.5m | 18.0m | 43.5m | 38.6m | 18.0m |

## Net Income | 23.8m | 121.6m | 165.6m | 21.8m | 46.8m | 57.7m | 111.5m | 111.4m | 97.5m |

TWD | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Cash | 1.5b | 1.4b | 1.4b |

## Accounts Receivable | 1.9b | 1.7b | 1.9b |

## Prepaid Expenses | 187.3m | 108.2m | 104.1m |

## Inventories | 1.7b | 2.3b | 2.6b |

## Current Assets | 5.8b | 5.6b | 6.2b |

## PP&E | 1.0b | 889.3m | 837.2m |

## Goodwill | 590.4m | 583.2m | 565.2m |

## Total Assets | 8.1b | 7.8b | 8.3b |

## Accounts Payable | 1.5b | 1.4b | 1.7b |

## Short-term debt | 539.5m | 528.4m | 620.2m |

## Current Liabilities | 3.1b | 3.1b | 3.4b |

## Long-term debt | 167.5m | 208.3m | |

## Non-Current Liabilities | 252.5m | 90.2m | 300.2m |

## Total Debt | 707.0m | 528.4m | 828.5m |

## Total Liabilities | 3.4b | 3.2b | 3.7b |

## Common Stock | 2.2b | 2.2b | 2.2b |

## Additional Paid-in Capital | 1.6b | 1.6b | 1.6b |

## Retained Earnings | 1.0b | 1.0b | 965.2m |

## Total Equity | 4.7b | 4.6b | 4.6b |

## Debt to Equity Ratio | 0.2 x | 0.1 x | 0.2 x |

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0.1 x |

## Financial Leverage | 1.7 x | 1.7 x | 1.8 x |

TWD | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Net Income | 431.1m | 390.2m | 244.6m |

## Depreciation and Amortization | 291.0m | 297.7m | 277.5m |

## Accounts Receivable | (453.7m) | 160.3m | (225.3m) |

## Inventories | (72.4m) | (700.2m) | (423.8m) |

## Accounts Payable | 371.3m | (11.5m) | 235.2m |

## Cash From Operating Activities | 687.9m | 406.2m | 161.6m |

## Purchases of PP&E | (115.5m) | (66.1m) | (86.6m) |

## Cash From Investing Activities | (368.2m) | 125.4m | (158.8m) |

## Short-term Borrowings | (2.2b) | (937.7m) | (957.4m) |

## Long-term Borrowings | (100.0m) | (200.0m) | (100.0m) |

## Dividends Paid | (521.7m) | (392.5m) | (326.3m) |

## Cash From Financing Activities | (324.2m) | (580.2m) | (13.4m) |

## Net Change in Cash | (45.4m) | (124.0m) | 16.6m |

## Interest Paid | 16.9m | 15.7m | 18.2m |

## Income Taxes Paid | 135.6m | 97.1m | 134.4m |

USD | FY, 2016 |
---|---|

## EV/EBIT | 20.9 x |

## EV/CFO | 18.1 x |

## Revenue/Employee | 6.9m |

## Debt/Equity | 0.2 x |

## Debt/Assets | 0.1 x |

## Financial Leverage | 1.7 x |

## P/E Ratio | 31.0 |