Financials Hua Nan Financial Holdings Co., Ltd.

Equities

2880

TW0002880002

Banks

End-of-day quote Taiwan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
22.55 TWD +0.22% Intraday chart for Hua Nan Financial Holdings Co., Ltd. +1.58% +0.89%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 267,800 234,600 279,716 306,280 304,915 307,644 -
Enterprise Value (EV) 1 267,800 234,600 279,716 306,280 304,915 307,644 307,644
P/E ratio 16.8 x 27.2 x 16.3 x 17.7 x 14.1 x 14.1 x 14.5 x
Yield 2.55% 1.45% 3.68% - - 3.49% 3.1%
Capitalization / Revenue 5.73 x 5.87 x 5.48 x 5.82 x 5.11 x 5.28 x 4.94 x
EV / Revenue 5.73 x 5.87 x 5.48 x 5.82 x 5.11 x 5.28 x 4.94 x
EV / EBITDA - - - - - - -
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Price to Book 1.42 x 1.24 x 1.39 x 1.66 x 1.47 x 1.41 x 1.33 x
Nbr of stocks (in thousands) 13,642,746 13,642,746 13,642,746 13,642,746 13,642,746 13,642,746 -
Reference price 2 19.63 17.20 20.50 22.45 22.35 22.55 22.55
Announcement Date 3/30/20 3/10/21 3/11/22 3/15/23 3/14/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 46,704 39,945 51,037 52,593 59,624 58,213 62,255
EBITDA - - - - - - -
EBIT 1 20,105 13,253 22,281 24,327 28,834 30,839 29,892
Operating Margin 43.05% 33.18% 43.66% 46.25% 48.36% 52.98% 48.02%
Earnings before Tax (EBT) 1 18,696 11,203 19,535 20,993 26,195 23,715 24,220
Net income 1 15,955 8,662 17,204 17,308 21,618 21,818 21,201
Net margin 34.16% 21.68% 33.71% 32.91% 36.26% 37.48% 34.05%
EPS 2 1.169 0.6313 1.257 1.270 1.580 1.600 1.554
Free Cash Flow - - - - - - -
FCF margin - - - - - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.4999 0.2497 0.7544 - - 0.7877 0.7002
Announcement Date 3/30/20 3/10/21 3/11/22 3/15/23 3/14/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 Q2 2022 Q3 2023 Q1 2023 Q2 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 12,474 13,340 16,028 14,270 14,938 13,876 14,456 15,343 14,538 13,830
EBITDA - - - - - - - - - -
EBIT - - - - - - - - - -
Operating Margin - - - - - - - - - -
Earnings before Tax (EBT) 1 4,561 5,161 6,827 6,067 6,715 5,597 5,845 6,536 5,736 5,477
Net income 1 3,694 4,290 5,910 5,000 5,506 5,150 5,378 6,014 5,277 5,039
Net margin 29.62% 32.16% 36.87% 35.04% 36.86% 37.11% 37.2% 39.2% 36.3% 36.44%
EPS 2 0.2708 0.3100 0.4300 0.3700 0.4000 0.3800 0.3900 0.4400 0.3900 0.3700
Dividend per Share - - - - - - - - - -
Announcement Date 5/30/22 8/31/22 11/28/22 5/26/23 8/29/23 - - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow - - - - - - -
ROE (net income / shareholders' equity) 8.79% 4.58% 8.82% 8.98% 11% 9.5% 8.88%
ROA (Net income/ Total Assets) 0.59% 0.3% 0.52% 0.49% 0.58% 0.54% 0.51%
Assets 1 2,707,955 2,887,333 3,308,462 3,532,315 3,749,661 4,040,370 4,169,289
Book Value Per Share 2 13.80 13.90 14.70 13.60 15.20 16.00 16.90
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 3/30/20 3/10/21 3/11/22 3/15/23 3/14/24 - -
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

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
22.55 TWD
Average target price
22.1 TWD
Spread / Average Target
-2.00%
Consensus
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