Financials Chang Hwa Commercial Bank, Ltd.

Equities

2801

TW0002801008

Banks

End-of-day quote Taiwan S.E. 23:00:00 29/04/2024 BST 5-day change 1st Jan Change
18.25 TWD -0.27% Intraday chart for Chang Hwa Commercial Bank, Ltd. +0.27% +1.96%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 168,380 226,667 186,406 178,306 181,678 194,363
Enterprise Value (EV) 1 94,631 198,927 152,298 63,575 138,301 148,934
P/E ratio 13.4 x 19.7 x 26.5 x 20.3 x 16.7 x 15 x
Yield 3.72% 1.76% 2.01% 2.94% 3.21% -
Capitalization / Revenue 5.45 x 7.57 x 7.61 x 6.63 x 5.89 x 5.5 x
EV / Revenue 3.06 x 6.64 x 6.22 x 2.36 x 4.49 x 4.22 x
EV / EBITDA - - - - - -
EV / FCF - - - - - -
FCF Yield - - - - - -
Price to Book 1.08 x 1.4 x 1.13 x 1.04 x 1.07 x 1.03 x
Nbr of stocks (in thousands) 10,858,293 10,858,293 10,858,293 10,858,293 10,858,293 10,858,293
Reference price 2 15.51 20.87 17.17 16.42 16.73 17.90
Announcement Date 04/03/19 02/03/20 02/03/21 25/02/22 01/03/23 29/02/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 30,905 29,942 24,481 26,892 30,819 35,329
EBITDA - - - - - -
EBIT - - - - - -
Operating Margin - - - - - -
Earnings before Tax (EBT) 1 14,710 13,520 8,311 10,120 13,051 16,237
Net income 1 12,647 11,572 7,041 8,804 10,971 12,982
Net margin 40.92% 38.65% 28.76% 32.74% 35.6% 36.75%
EPS 2 1.154 1.057 0.6484 0.8108 1.005 1.190
Free Cash Flow - - - - - -
FCF margin - - - - - -
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 0.5770 0.3678 0.3443 0.4830 0.5366 -
Announcement Date 04/03/19 02/03/20 02/03/21 25/02/22 01/03/23 29/02/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 73,748 27,739 34,108 114,731 43,376 45,430
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow - - - - - -
ROE (net income / shareholders' equity) 8.39% 7.26% 4.3% 5.23% 6.44% 7.27%
ROA (Net income/ Total Assets) 0.61% 0.55% 0.32% 0.36% 0.42% 0.46%
Assets 1 2,059,361 2,108,945 2,224,621 2,432,662 2,618,413 2,793,060
Book Value Per Share 2 14.40 14.90 15.20 15.80 15.60 17.30
Cash Flow per Share 2 16.50 12.50 16.20 17.90 9.650 12.40
Capex 1 1,079 458 677 575 742 778
Capex / Sales 3.49% 1.53% 2.76% 2.14% 2.41% 2.2%
Announcement Date 04/03/19 02/03/20 02/03/21 25/02/22 01/03/23 29/02/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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