TAIWAN HON CHUAN ENTERPRISE CO., LTD. Financials Taiwan Hon Chuan Enterprise Co., Ltd.
Equities
9939
TW0009939009
Non-Paper Containers & Packaging
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 158 TWD | -0.32% |
|
-0.63% | +26.40% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 18,158 | 17,353 | 20,605 | 25,037 | 35,973 | 45,470 | - |
| Enterprise Value (EV) 1 | 18,158 | 28,232 | 31,349 | 36,623 | 47,887 | 55,605 | 55,005 |
| P/E ratio | 13.2 x | 10.6 x | 10.5 x | 11.3 x | 14.6 x | 16.9 x | 14.3 x |
| Yield | 4.84% | 5.97% | 6.01% | 5.52% | 4.28% | 3.77% | - |
| Capitalization / Revenue | 0.84 x | 0.9 x | 0.96 x | 1.01 x | 1.36 x | 1.58 x | 1.45 x |
| EV / Revenue | 0.84 x | 1.46 x | 1.47 x | 1.48 x | 1.81 x | 1.93 x | 1.75 x |
| EV / EBITDA | 3.99 x | 6.3 x | 6.13 x | 7.16 x | 8.68 x | 8.72 x | 7.75 x |
| EV / FCF | 20.9 x | 24 x | 21.3 x | 98.4 x | 28.9 x | 23.3 x | 19.6 x |
| FCF Yield | 4.79% | 4.17% | 4.69% | 1.02% | 3.47% | 4.29% | 5.11% |
| Price to Book | 1.4 x | 1.33 x | 1.53 x | 1.68 x | 2.29 x | 2.77 x | - |
| Nbr of stocks (in thousands) | 292,879 | 287,786 | 287,786 | 287,786 | 287,786 | 287,786 | - |
| Reference price 2 | 62.00 | 60.30 | 71.60 | 87.00 | 125.0 | 158.0 | 158.0 |
| Announcement Date | 3/25/20 | 3/29/21 | 3/22/22 | 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 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 21,527 | 19,348 | 21,383 | 24,696 | 26,409 | 28,799 | 31,448 |
| EBITDA 1 | 4,551 | 4,478 | 5,118 | 5,112 | 5,518 | 6,380 | 7,095 |
| EBIT 1 | 2,256 | 2,190 | 2,828 | 2,800 | 3,182 | 3,590 | 4,268 |
| Operating Margin | 10.48% | 11.32% | 13.23% | 11.34% | 12.05% | 12.47% | 13.57% |
| Earnings before Tax (EBT) 1 | 1,999 | 2,155 | 2,705 | 2,840 | 3,157 | 3,566 | 4,106 |
| Net income 1 | 1,381 | 1,655 | 1,965 | 2,215 | 2,474 | 2,695 | 3,173 |
| Net margin | 6.42% | 8.56% | 9.19% | 8.97% | 9.37% | 9.36% | 10.09% |
| EPS 2 | 4.710 | 5.700 | 6.810 | 7.680 | 8.580 | 9.370 | 11.02 |
| Free Cash Flow 1 | 870.4 | 1,176 | 1,471 | 372.1 | 1,660 | 2,388 | 2,812 |
| FCF margin | 4.04% | 6.08% | 6.88% | 1.51% | 6.28% | 8.29% | 8.94% |
| FCF Conversion (EBITDA) | 19.13% | 26.26% | 28.73% | 7.28% | 30.08% | 37.43% | 39.63% |
| FCF Conversion (Net income) | 63.03% | 71.05% | 74.85% | 16.8% | 67.08% | 88.61% | 88.62% |
| Dividend per Share 2 | 3.000 | 3.600 | 4.300 | 4.800 | 5.350 | 5.950 | - |
| Announcement Date | 3/25/20 | 3/29/21 | 3/22/22 | 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 | 5,501 | 4,828 | 5,612 | 6,576 | 7,165 | 5,342 | 6,066 | 7,219 | 7,371 | 5,753 | 6,581 | 7,852 | 7,975 | 6,190 |
| EBITDA 1 | 1,313 | 975.4 | 1,287 | 1,430 | 1,511 | 884.4 | 1,202 | 1,563 | 1,726 | 1,028 | 1,475 | 1,782 | 1,943 | 1,179 |
| EBIT 1 | 758.6 | 396 | 717.1 | 854.7 | 925.9 | 301.9 | 602.7 | 978.7 | 1,147 | 453.2 | 808 | 1,115 | 1,276 | 512 |
| Operating Margin | 13.79% | 8.2% | 12.78% | 13% | 12.92% | 5.65% | 9.94% | 13.56% | 15.56% | 7.88% | 12.28% | 14.2% | 16% | 8.27% |
| Earnings before Tax (EBT) 1 | 748.6 | 349.5 | 735 | 917.1 | 975.7 | 212.6 | 614 | 985.9 | 1,083 | 474.1 | 769 | 1,076 | 1,243 | 479 |
| Net income 1 | 514.2 | 244 | 555.4 | 694.5 | 740.7 | 224.6 | 463.2 | 774.9 | 855 | 381 | 579 | 836 | 974 | 371 |
| Net margin | 9.35% | 5.05% | 9.9% | 10.56% | 10.34% | 4.2% | 7.64% | 10.73% | 11.6% | 6.62% | 8.8% | 10.65% | 12.21% | 5.99% |
| EPS 2 | 1.790 | 0.8400 | 1.930 | 2.410 | 2.570 | 0.7700 | 1.610 | 2.690 | 2.970 | 1.320 | 2.010 | 2.900 | 3.390 | 1.290 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/9/21 | 3/22/22 | 5/12/22 | 8/10/22 | 11/11/22 | 3/15/23 | 5/12/23 | 8/11/23 | 11/13/23 | 3/13/24 | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 10,879 | 10,744 | 11,586 | 11,914 | 10,135 | 9,535 |
| Net Cash position 1 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 2.429 x | 2.099 x | 2.266 x | 2.159 x | 1.589 x | 1.344 x |
| Free Cash Flow 1 | 870 | 1,176 | 1,471 | 372 | 1,660 | 2,388 | 2,812 |
| ROE (net income / shareholders' equity) | 10.9% | 12.7% | 14.8% | 15.6% | 16.2% | 16.9% | 18.1% |
| ROA (Net income/ Total Assets) | 4.53% | 5.24% | 6.02% | 6.31% | 6.64% | 7.1% | 7.9% |
| Assets 1 | 30,473 | 31,608 | 32,618 | 35,091 | 37,244 | 37,958 | 40,165 |
| Book Value Per Share 2 | 44.20 | 45.40 | 46.80 | 51.80 | 54.60 | 57.00 | - |
| Cash Flow per Share 2 | - | 14.50 | 12.50 | 13.30 | 17.60 | 17.40 | - |
| Capex 1 | 3,287 | 3,047 | 2,136 | 3,471 | 3,426 | 2,800 | 2,800 |
| Capex / Sales | 15.27% | 15.75% | 9.99% | 14.05% | 12.97% | 9.72% | 8.9% |
| Announcement Date | 3/25/20 | 3/29/21 | 3/22/22 | 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
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
158
TWD
Average target price
137.5
TWD
Spread / Average Target
-12.97%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +26.40% | 1.39B | |
| -6.95% | 12.96B | |
| +15.94% | 9.48B | |
| -15.34% | 6.61B | |
| -15.31% | 1.29B | |
| +7.61% | 1.33B | |
| +27.87% | 1.26B | |
| -24.91% | 997M | |
| +21.08% | 855M | |
| +12.74% | 813M |
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- Financials Taiwan Hon Chuan Enterprise Co., Ltd.
