TUNG HO STEEL ENTERPRISE CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 73.3 TWD | +0.41% |
|
-0.14% | +3.68% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 23,093 | 37,113 | 48,997 | 38,482 | 51,626 | 53,525 | - |
| Enterprise Value (EV) 1 | 23,093 | 41,204 | 63,471 | 38,482 | 51,626 | 57,911 | 56,846 |
| P/E ratio | - | 11.2 x | 11.3 x | 9.67 x | 10.9 x | 12.5 x | - |
| Yield | - | 4.11% | 9.54% | - | - | 5.53% | 5.31% |
| Capitalization / Revenue | 0.51 x | 0.87 x | 0.83 x | 0.64 x | 0.85 x | 0.87 x | 0.9 x |
| EV / Revenue | 0.51 x | 0.96 x | 1.08 x | 0.64 x | 0.85 x | 0.94 x | 0.95 x |
| EV / EBITDA | 6.07 x | 6.8 x | 7.3 x | 5.67 x | 6.79 x | 7.52 x | 7.89 x |
| EV / FCF | - | 4.58 x | -38.6 x | - | - | 6.89 x | 14.1 x |
| FCF Yield | - | 21.8% | -2.59% | - | - | 14.5% | 7.09% |
| Price to Book | 0.95 x | 1.34 x | 2.25 x | - | - | 1.65 x | 1.58 x |
| Nbr of stocks (in thousands) | 672,721 | 681,249 | 730,214 | 730,214 | 730,214 | 730,214 | - |
| Reference price 2 | 34.33 | 54.48 | 67.10 | 52.70 | 70.70 | 73.30 | 73.30 |
| Announcement Date | 2/26/20 | 3/23/21 | 3/10/22 | 2/23/23 | 2/27/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 44,864 | 42,866 | 58,795 | 59,972 | 60,962 | 61,683 | 59,578 |
| EBITDA 1 | 3,802 | 6,062 | 8,690 | 6,792 | 7,602 | 7,700 | 7,202 |
| EBIT 1 | 2,107 | 4,421 | 7,060 | 5,187 | 5,999 | 5,837 | 5,229 |
| Operating Margin | 4.7% | 10.31% | 12.01% | 8.65% | 9.84% | 9.46% | 8.78% |
| Earnings before Tax (EBT) 1 | - | 4,490 | 7,351 | 5,320 | 6,002 | 5,514 | - |
| Net income 1 | - | 3,562 | 5,906 | 3,994 | 4,729 | 4,292 | - |
| Net margin | - | 8.31% | 10.05% | 6.66% | 7.76% | 6.96% | - |
| EPS 2 | - | 4.881 | 5.920 | 5.450 | 6.460 | 5.880 | - |
| Free Cash Flow 1 | - | 8,999 | -1,643 | - | - | 8,406 | 4,033 |
| FCF margin | - | 20.99% | -2.79% | - | - | 13.63% | 6.77% |
| FCF Conversion (EBITDA) | - | 148.45% | - | - | - | 109.16% | 55.99% |
| FCF Conversion (Net income) | - | 252.64% | - | - | - | 195.84% | - |
| Dividend per Share 2 | - | 2.239 | 6.400 | - | - | 4.050 | 3.890 |
| Announcement Date | 2/26/20 | 3/23/21 | 3/10/22 | 2/23/23 | 2/27/24 | - | - |
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 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 14,481 | 16,527 | 15,195 | 16,226 | 14,501 | 14,049 | 13,622 | 15,814 | 15,379 | 16,510 | 14,778 | 15,699 | 14,958 | 16,248 | 14,567 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 1,743 | 1,824 | 1,465 | 1,732 | 704.2 | 1,285 | 1,463 | 1,401 | 1,494 | 1,678 | 1,401 | 1,480 | 1,356 | 1,600 | 1,124 |
| Operating Margin | 12.04% | 11.04% | 9.64% | 10.68% | 4.86% | 9.14% | 10.74% | 8.86% | 9.72% | 10.16% | 9.48% | 9.43% | 9.06% | 9.85% | 7.72% |
| Earnings before Tax (EBT) 1 | 1,827 | 1,846 | 1,596 | 1,765 | 717.3 | 1,242 | 1,416 | 1,469 | 1,487 | 1,671 | 1,353 | 1,427 | 1,216 | 1,518 | 1,175 |
| Net income 1 | 1,400 | 1,523 | 1,285 | 1,335 | 542.5 | 831.9 | 1,135 | 1,087 | 1,173 | 1,344 | 1,053 | 1,111 | 946 | 1,183 | 926 |
| Net margin | 9.67% | 9.21% | 8.46% | 8.23% | 3.74% | 5.92% | 8.33% | 6.87% | 7.63% | 8.14% | 7.13% | 7.08% | 6.32% | 7.28% | 6.36% |
| EPS 2 | 1.940 | 1.890 | 1.750 | 1.820 | 0.7400 | 1.140 | 1.550 | 1.490 | 1.590 | 1.840 | 1.440 | 1.520 | 1.300 | 1.620 | 1.270 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/12/21 | 3/10/22 | 5/5/22 | 8/4/22 | 11/7/22 | 2/23/23 | 5/9/23 | 7/31/23 | 10/30/23 | 2/27/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 4,091 | 14,474 | - | - | 4,386 | 3,321 |
| Net Cash position 1 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.6749 x | 1.666 x | - | - | 0.5696 x | 0.4611 x |
| Free Cash Flow 1 | - | 8,999 | -1,643 | - | - | 8,406 | 4,033 |
| ROE (net income / shareholders' equity) | 6.51% | 13.8% | 20.7% | - | - | 13.9% | 12% |
| ROA (Net income/ Total Assets) | 3.25% | 7.73% | 11.8% | - | - | 7.61% | 6.57% |
| Assets 1 | - | 46,056 | 49,912 | - | - | 56,437 | - |
| Book Value Per Share 2 | 36.00 | 40.50 | 29.80 | - | - | 44.40 | 46.30 |
| Cash Flow per Share | - | - | - | - | - | - | - |
| Capex 1 | 711 | 331 | 591 | - | - | 2,457 | 999 |
| Capex / Sales | 1.58% | 0.77% | 1% | - | - | 3.98% | 1.68% |
| Announcement Date | 2/26/20 | 3/23/21 | 3/10/22 | 2/23/23 | 2/27/24 | - | - |
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
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
73.3
TWD
Average target price
79.75
TWD
Spread / Average Target
+8.80%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +3.68% | 1.64B | |
| +0.70% | 25.86B | |
| +19.56% | 21.28B | |
| -9.07% | 11.73B | |
| +24.56% | 11.2B | |
| +11.54% | 10.91B | |
| +10.96% | 10.15B | |
| +2.61% | 8.56B | |
| +5.78% | 7.32B | |
| +22.56% | 6.92B |
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