Stock 2891 CTBC FINANCIAL HOLDING CO., LTD.
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Financials CTBC Financial Holding Co., Ltd.

Equities

2891

TW0002891009

Banks

End-of-day quote Taiwan S.E.
Other stock markets
 06:00:00 2024-05-16 pm EDT 		5-day change 1st Jan Change
38.1 TWD +1.60% Intraday chart for CTBC Financial Holding Co., Ltd. +1.74% +34.39%
Apr. 29 CTBC Financial Holding Co., Ltd. announced that it expects to receive TWD 309.34244 million in funding from The Ambassador Hotel,Ltd. CI
Apr. 26 CTBC Financial Holding Co., Ltd. Announces Cash Dividends for the Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 436,733 384,091 505,947 443,858 555,186 747,599 - -
Enterprise Value (EV) 1 436,733 384,091 505,947 443,858 555,186 747,599 747,599 747,599
P/E ratio 10.4 x 9.16 x 9.51 x 14.3 x 10.1 x 12.2 x 11.5 x -
Yield 4.46% 5.33% 4.82% - - 3.74% 3.93% 4.38%
Capitalization / Revenue 1.65 x 1.98 x 2.72 x 3.19 x 4.07 x 3.59 x 3.57 x -
EV / Revenue 1.65 x 1.98 x 2.72 x 3.19 x 4.07 x 3.59 x 3.57 x -
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.24 x 0.95 x 1.18 x - 1.35 x 1.56 x 1.46 x -
Nbr of stocks (in thousands) 19,496,990 19,496,990 19,496,990 20,084,065 19,583,297 19,622,009 - -
Reference price 2 22.40 19.70 25.95 22.10 28.35 38.10 38.10 38.10
Announcement Date 3/12/20 3/18/21 3/15/22 3/15/23 3/13/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 264,718 194,406 186,058 139,252 136,576 208,321 209,383 -
EBITDA - - - - - - - -
EBIT 1 57,450 60,835 69,759 56,035 76,608 77,085 89,466 -
Operating Margin 21.7% 31.29% 37.49% 40.24% 56.09% 37% 42.73% -
Earnings before Tax (EBT) 1 51,809 51,577 62,044 47,049 66,934 77,825 79,812 -
Net income 1 42,880 42,853 54,205 31,279 56,081 62,188 64,639 -
Net margin 16.2% 22.04% 29.13% 22.46% 41.06% 29.85% 30.87% -
EPS 2 2.160 2.150 2.730 1.550 2.820 3.134 3.309 -
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.000 1.050 1.250 - - 1.424 1.497 1.670
Announcement Date 3/12/20 3/18/21 3/15/22 3/15/23 3/13/24 - - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 50,790 49,667 57,568 43,059 36,130 2,495 23,538 38,952 48,139 29,693 57,135 51,173 52,500 43,715
EBITDA - - - - - - - - - - - - - -
EBIT 1 - - - - - - 16,984 19,594 26,589 13,441 25,701 19,467 18,052 10,101
Operating Margin - - - - - - 72.16% 50.3% 55.23% 45.27% 44.98% 38.04% 34.38% 23.11%
Earnings before Tax (EBT) 1 15,911 8,664 21,067 12,621 13,110 251.1 15,796 17,045 23,678 10,415 25,701 19,467 18,052 10,101
Net income 1 13,026 7,730 16,292 8,003 7,891 -907.3 12,959 15,854 19,773 7,495 20,588 16,268 14,656 7,563
Net margin 25.65% 15.56% 28.3% 18.59% 21.84% -36.37% 55.06% 40.7% 41.07% 25.24% 36.03% 31.79% 27.92% 17.3%
EPS 2 0.6100 0.4000 0.8400 0.3500 0.4100 -0.0500 0.6600 0.8100 0.9600 0.3900 1.040 0.8100 0.7300 0.3800
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 11/19/21 3/15/22 5/24/22 8/19/22 11/18/22 3/15/23 5/26/23 8/25/23 11/14/23 3/13/24 - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 13% 10.9% 13% - 14.6% 13.6% 12.9% 14%
ROA (Net income/ Total Assets) 0.72% 0.67% 0.79% - 0.72% 0.7% 0.71% -
Assets 1 5,955,556 6,418,063 6,850,115 - 7,789,094 8,883,959 9,116,970 -
Book Value Per Share 2 18.00 20.80 22.10 - 21.00 24.40 26.10 -
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 3/12/20 3/18/21 3/15/22 3/15/23 3/13/24 - - -
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for CTBC Financial Holding Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
A
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
38.1 TWD
Average target price
33.3 TWD
Spread / Average Target
-12.60%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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