Financials Sinyi Realty Inc.

Equities

9940

TW0009940007

Real Estate Services

End-of-day quote Taiwan S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
32.55 TWD +0.15% Intraday chart for Sinyi Realty Inc. +4.33% +8.68%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 21,663 23,063 21,442 25,826 19,821 22,069
Enterprise Value (EV) 1 23,541 29,907 26,829 26,339 24,066 28,125
P/E ratio 14.4 x 18.3 x 13.9 x 11 x 16.2 x 12.5 x
Yield 4.42% 3.83% 5.84% 7.99% 4.46% 5.34%
Capitalization / Revenue 1.68 x 1.85 x 1.64 x 1.37 x 1.44 x 1.55 x
EV / Revenue 1.82 x 2.4 x 2.05 x 1.4 x 1.75 x 1.98 x
EV / EBITDA 8.49 x 14.3 x 12 x 8.09 x 14.1 x 12.9 x
EV / FCF 6.38 x 25 x 9.34 x 4.55 x -28.5 x 20.1 x
FCF Yield 15.7% 4% 10.7% 22% -3.51% 4.97%
Price to Book 1.98 x 2.12 x 1.86 x 2.08 x 1.68 x 1.78 x
Nbr of stocks (in thousands) 736,847 736,847 736,847 736,847 736,847 736,847
Reference price 2 29.40 31.30 29.10 35.05 26.90 29.95
Announcement Date 2/27/19 3/2/20 2/25/21 4/29/22 2/22/23 2/26/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 12,903 12,438 13,061 18,792 13,724 14,205
EBITDA 1 2,772 2,085 2,230 3,254 1,703 2,180
EBIT 1 2,645 1,972 2,112 3,132 1,577 2,052
Operating Margin 20.5% 15.85% 16.17% 16.67% 11.49% 14.45%
Earnings before Tax (EBT) 1 2,820 2,057 2,187 3,229 1,662 2,370
Net income 1 1,505 1,263 1,552 2,350 1,223 1,761
Net margin 11.66% 10.15% 11.88% 12.5% 8.91% 12.4%
EPS 2 2.040 1.710 2.100 3.180 1.660 2.390
Free Cash Flow 1 3,688 1,195 2,874 5,792 -844.4 1,397
FCF margin 28.58% 9.61% 22% 30.82% -6.15% 9.83%
FCF Conversion (EBITDA) 133.06% 57.3% 128.88% 177.98% - 64.08%
FCF Conversion (Net income) 245.12% 94.62% 185.13% 246.47% - 79.32%
Dividend per Share 2 1.300 1.200 1.700 2.800 1.200 1.600
Announcement Date 2/27/19 3/2/20 2/25/21 4/29/22 2/22/23 2/26/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 1,878 6,844 5,387 513 4,245 6,057
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 0.6775 x 3.282 x 2.416 x 0.1576 x 2.493 x 2.778 x
Free Cash Flow 1 3,688 1,195 2,874 5,792 -844 1,397
ROE (net income / shareholders' equity) 13.3% 11.6% 13.9% 19.6% 10.1% 14.5%
ROA (Net income/ Total Assets) 5.92% 4.07% 4.15% 6.04% 2.94% 3.93%
Assets 1 25,394 31,012 37,365 38,883 41,566 44,798
Book Value Per Share 2 14.90 14.80 15.60 16.90 16.00 16.80
Cash Flow per Share 2 6.180 10.20 8.660 13.00 11.30 7.430
Capex 1 97.6 107 129 112 134 211
Capex / Sales 0.76% 0.86% 0.98% 0.59% 0.98% 1.48%
Announcement Date 2/27/19 3/2/20 2/25/21 4/29/22 2/22/23 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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