Financials Hsin Yung Chien Co., Ltd.

Equities

2114

TW0002114006

Heavy Electrical Equipment

End-of-day quote Taiwan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
107.5 TWD +0.94% Intraday chart for Hsin Yung Chien Co., Ltd. +0.94% 0.00%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 5,389 5,864 6,480 9,515 7,581 8,384
Enterprise Value (EV) 1 4,549 4,902 5,308 7,807 6,067 6,961
P/E ratio 13.7 x 14.7 x 12.5 x 9.91 x 19.4 x 17.9 x
Yield 6.27% 6.05% 5.47% 5.74% 5.14% 4.65%
Capitalization / Revenue 2.92 x 3.53 x 4.06 x 4.91 x 4.11 x 5.38 x
EV / Revenue 2.47 x 2.95 x 3.32 x 4.03 x 3.29 x 4.47 x
EV / EBITDA 7.74 x 8.83 x 8.86 x 12.6 x 8.91 x 11.6 x
EV / FCF 12.4 x 13.9 x 16.1 x 35.3 x 23.2 x 35.4 x
FCF Yield 8.03% 7.19% 6.21% 2.83% 4.31% 2.83%
Price to Book 2.35 x 2.5 x 2.57 x 3.02 x 2.52 x 2.71 x
Nbr of stocks (in thousands) 77,992 77,992 77,992 77,992 77,992 77,992
Reference price 2 69.09 75.18 83.09 122.0 97.20 107.5
Announcement Date 3/20/19 3/25/20 3/28/21 5/31/22 3/28/23 2/26/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 1,844 1,659 1,597 1,937 1,846 1,558
EBITDA 1 587.4 555 598.8 618 681 599.4
EBIT 1 483.6 455.4 508.1 522.4 596.8 525.3
Operating Margin 26.23% 27.45% 31.83% 26.97% 32.33% 33.71%
Earnings before Tax (EBT) 1 486.9 500.5 618.5 1,065 515.8 583.3
Net income 1 394.8 399.5 523.7 968.4 392 469.2
Net margin 21.41% 24.08% 32.8% 49.99% 21.23% 30.11%
EPS 2 5.039 5.100 6.664 12.31 5.000 5.990
Free Cash Flow 1 365.4 352.6 329.7 221 261.4 196.7
FCF margin 19.82% 21.26% 20.65% 11.41% 14.16% 12.63%
FCF Conversion (EBITDA) 62.21% 63.53% 55.06% 35.76% 38.39% 32.82%
FCF Conversion (Net income) 92.55% 88.25% 62.96% 22.82% 66.69% 41.93%
Dividend per Share 2 4.329 4.546 4.546 7.000 5.000 5.000
Announcement Date 3/20/19 3/25/20 3/28/21 5/31/22 3/28/23 2/26/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 840 962 1,172 1,708 1,514 1,423
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 365 353 330 221 261 197
ROE (net income / shareholders' equity) 17.4% 17.2% 21.5% 34.2% 12.8% 15.4%
ROA (Net income/ Total Assets) 11.2% 10.6% 11.2% 9.89% 10.3% 8.91%
Assets 1 3,526 3,777 4,669 9,796 3,814 5,268
Book Value Per Share 2 29.40 30.10 32.40 40.30 38.50 39.60
Cash Flow per Share 2 9.760 12.20 11.20 7.530 15.20 9.270
Capex 1 61.7 98.8 153 122 360 153
Capex / Sales 3.35% 5.96% 9.61% 6.32% 19.5% 9.82%
Announcement Date 3/20/19 3/25/20 3/28/21 5/31/22 3/28/23 2/26/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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