Silicon Motion Technology Corporation

DB:S9M Stock Report

Market Cap: €1.8b

Silicon Motion Technology Valuation

Is S9M undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of S9M when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: S9M (€52) is trading below our estimate of fair value (€114.21)

Significantly Below Fair Value: S9M is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for S9M?

Key metric: As S9M is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for S9M. This is calculated by dividing S9M's market cap by their current earnings.
What is S9M's PE Ratio?
PE Ratio20.5x
EarningsUS$88.77m
Market CapUS$1.82b

Price to Earnings Ratio vs Peers

How does S9M's PE Ratio compare to its peers?

The above table shows the PE ratio for S9M vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.1x
ELG Elmos Semiconductor
11.4x3.9%€1.2b
IFX Infineon Technologies
23.3x17.1%€40.8b
WAF Siltronic
14.6x-23.8%€1.4b
AIXA AIXTRON
15x3.5%€1.7b
S9M Silicon Motion Technology
20.5x27.5%€1.8b

Price-To-Earnings vs Peers: S9M is expensive based on its Price-To-Earnings Ratio (20.5x) compared to the peer average (16.1x).

Price to Earnings Ratio vs Industry

How does S9M's PE Ratio compare vs other companies in the European Semiconductor Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
S9M 20.5xIndustry Avg. 17.9xNo. of Companies7PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: S9M is expensive based on its Price-To-Earnings Ratio (20.5x) compared to the European Semiconductor industry average (17.4x).

Price to Earnings Ratio vs Fair Ratio

What is S9M's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

S9M PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.5x
Fair PE Ratio19x

Price-To-Earnings vs Fair Ratio: S9M is expensive based on its Price-To-Earnings Ratio (20.5x) compared to the estimated Fair Price-To-Earnings Ratio (19x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst S9M forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€52.00
€74.10
+42.5%
17.6%€91.29€48.05n/a9
Dec ’25€49.20
€73.56
+49.5%
17.6%€90.63€47.70n/a9
Nov ’25€49.60
€71.16
+43.5%
17.6%€87.67€46.14n/a9
Oct ’25€54.00
€78.43
+45.2%
17.1%€99.30€54.16n/a9
Sep ’25€56.50
€80.49
+42.5%
14.9%€100.23€54.67n/a9
Aug ’25€64.00
€89.81
+40.3%
9.0%€103.47€81.29n/a9
Jul ’25€75.00
€87.72
+17.0%
8.9%€101.81€78.67n/a9
Jun ’25€72.00
€87.60
+21.7%
8.3%€102.15€78.93n/a9
May ’25€70.00
€79.64
+13.8%
14.1%€94.01€54.92n/a9
Apr ’25€70.00
€75.73
+8.2%
13.1%€91.85€54.19n/a9
Mar ’25€65.50
€76.20
+16.3%
12.8%€92.80€54.75n/a9
Feb ’25€58.00
€70.37
+21.3%
14.5%€91.79€54.16n/a9
Jan ’25€55.00
€69.48
+26.3%
17.2%€93.26€50.36€52.0010
Dec ’24€53.50
€69.48
+29.9%
17.2%€93.26€50.36€49.2010
Nov ’24€50.50
€71.15
+40.9%
22.1%€100.30€54.88€49.6010
Oct ’24€47.60
€70.05
+47.2%
23.0%€98.87€52.23€54.0010
Sep ’24€50.00
€67.70
+35.4%
22.1%€96.15€50.80€56.5011
Aug ’24€57.50
€67.70
+17.7%
22.1%€96.15€50.80€64.0011
Jul ’24€68.00
€72.56
+6.7%
23.2%€97.66€50.20€75.0010
Jun ’24€57.00
€73.76
+29.4%
24.4%€99.34€51.06€72.009
May ’24€56.00
€76.77
+37.1%
21.0%€99.35€54.69€70.009
Apr ’24€60.00
€81.97
+36.6%
22.9%€111.78€55.89€70.0010
Mar ’24€63.00
€81.97
+30.1%
22.9%€111.78€55.89€65.5010
Feb ’24€58.50
€82.33
+40.7%
22.4%€110.63€55.31€58.0010
Jan ’24€59.50
€93.76
+57.6%
21.9%€123.04€61.52€55.009

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/01 09:02
End of Day Share Price 2024/12/30 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Silicon Motion Technology Corporation is covered by 22 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael BurtonBenchmark Company
Dong-je WooBofA Global Research
Craig EllisB. Riley Securities, Inc.