Stock 2035 TANG ENG IRON WORKS CO., LTD.
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Financials Tang Eng Iron Works Co., Ltd.

Equities

2035

TW0002035003

Iron & Steel

End-of-day quote Taipei Exchange
Other stock markets
 06:00:00 2024-04-25 pm EDT 		5-day change 1st Jan Change
33 TWD 0.00% Intraday chart for Tang Eng Iron Works Co., Ltd. 0.00% -0.90%
Mar. 25 Tang Eng Iron Works Co., Ltd. Announces Demise of Tsai Ming Hsiao, Independent Director CI
Mar. 20 Tang Eng Iron Works Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 16,100 15,015 13,545 12,512 11,112 11,655
Enterprise Value (EV) 1 23,993 23,735 22,065 20,671 17,787 19,206
P/E ratio -11.2 x 1,004 x -20.3 x 7.89 x -49.4 x -10.4 x
Yield - - - - - -
Capitalization / Revenue 1.08 x 1.22 x 1.25 x 0.74 x 0.79 x 1.09 x
EV / Revenue 1.61 x 1.92 x 2.04 x 1.23 x 1.27 x 1.79 x
EV / EBITDA -20.6 x -30.3 x -39.6 x 11.3 x -211 x -20.3 x
EV / FCF -112 x -20.9 x 77.5 x -47 x 12.1 x -33.5 x
FCF Yield -0.9% -4.79% 1.29% -2.13% 8.26% -2.99%
Price to Book 3.39 x 3.12 x 3.21 x 2.14 x 1.95 x 2.53 x
Nbr of stocks (in thousands) 350,000 350,000 350,000 350,000 350,000 350,000
Reference price 2 46.00 42.90 38.70 35.75 31.75 33.30
Announcement Date 3/26/19 3/9/20 3/3/21 2/25/22 3/8/23 3/20/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 14,880 12,351 10,829 16,813 14,021 10,707
EBITDA 1 -1,166 -784.3 -557.6 1,828 -84.38 -944.8
EBIT 1 -1,393 -1,014 -777 1,611 -286.2 -1,143
Operating Margin -9.36% -8.21% -7.18% 9.58% -2.04% -10.67%
Earnings before Tax (EBT) 1 -1,443 48.77 -657.6 1,586 -224.9 -1,125
Net income 1 -1,442 14.95 -665.7 1,586 -224.9 -1,125
Net margin -9.69% 0.12% -6.15% 9.43% -1.6% -10.51%
EPS 2 -4.119 0.0427 -1.902 4.532 -0.6427 -3.215
Free Cash Flow 1 -214.9 -1,137 284.8 -440 1,470 -574
FCF margin -1.44% -9.2% 2.63% -2.62% 10.48% -5.36%
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share - - - - - -
Announcement Date 3/26/19 3/9/20 3/3/21 2/25/22 3/8/23 3/20/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 7,893 8,720 8,520 8,159 6,675 7,551
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) -6.766 x -11.12 x -15.28 x 4.463 x -79.1 x -7.993 x
Free Cash Flow 1 -215 -1,137 285 -440 1,470 -574
ROE (net income / shareholders' equity) -26.4% 0.31% -14.8% 31.6% -3.9% -21.8%
ROA (Net income/ Total Assets) -4.51% -3.36% -2.68% 5.35% -0.95% -4.19%
Assets 1 31,961 -444.6 24,848 29,663 23,592 26,826
Book Value Per Share 2 13.60 13.70 12.00 16.70 16.30 13.20
Cash Flow per Share 2 0.7700 0.2600 0.3800 3.010 1.450 0.8200
Capex 1 219 132 108 127 78.6 288
Capex / Sales 1.47% 1.07% 1% 0.76% 0.56% 2.69%
Announcement Date 3/26/19 3/9/20 3/3/21 2/25/22 3/8/23 3/20/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Iron, Steel Mills & Foundries

1st Jan change Capi.
TANG ENG IRON WORKS CO., LTD. Stock Tang Eng Iron Works Co., Ltd.
-0.90% 354M
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CITIC PACIFIC SPECIAL STEEL GROUP CO., LTD Stock Citic Pacific Special Steel Group Co., Ltd
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TERNIUM S.A. Stock Ternium S.A.
+2.61% 8.56B
BHARAT FORGE LIMITED Stock Bharat Forge Limited
+3.41% 7.32B
JINDAL STAINLESS LIMITED Stock Jindal Stainless Limited
+22.34% 6.92B
Iron, Steel Mills & Foundries
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