Financials Chia Hsin Cement Corporation

Equities

1103

TW0001103000

Construction Materials

End-of-day quote Taiwan S.E. 23:00:00 20/05/2024 BST 5-day change 1st Jan Change
18.3 TWD -1.35% Intraday chart for Chia Hsin Cement Corporation -0.27% -3.94%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 8,752 14,403 12,249 13,404 11,240 12,551
Enterprise Value (EV) 1 7,187 16,118 13,851 14,348 13,250 14,162
P/E ratio 12.5 x 11.1 x 6.95 x 20.3 x -62.1 x 159 x
Yield 7.35% 4.48% 7.33% 3.13% 1.72% -
Capitalization / Revenue 4.18 x 7.64 x 5.95 x 6.04 x 4.99 x 4.31 x
EV / Revenue 3.43 x 8.56 x 6.73 x 6.46 x 5.88 x 4.86 x
EV / EBITDA 49.5 x -68.2 x -44.8 x -105 x -504 x 72.8 x
EV / FCF -361 x -7.38 x -11.9 x -9,935 x -116 x 160 x
FCF Yield -0.28% -13.6% -8.4% -0.01% -0.87% 0.63%
Price to Book 0.46 x 0.63 x 0.51 x 0.54 x 0.53 x 0.58 x
Nbr of stocks (in thousands) 656,426 657,298 655,835 658,894 658,894 658,865
Reference price 2 13.33 21.91 18.68 20.34 17.06 19.05
Announcement Date 29/03/19 31/03/20 30/03/21 23/03/22 14/03/23 29/02/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,092 1,884 2,058 2,220 2,254 2,912
EBITDA 1 145.2 -236.3 -308.9 -136.7 -26.31 194.5
EBIT 1 -103.6 -434.8 -746.9 -525.6 -395.4 -147.5
Operating Margin -4.95% -23.08% -36.28% -23.67% -17.54% -5.07%
Earnings before Tax (EBT) 1 427.9 985.8 2,106 819.5 -121.3 82.77
Net income 1 699.8 1,297 1,764 657.8 -180.8 81.08
Net margin 33.44% 68.87% 85.71% 29.63% -8.02% 2.78%
EPS 2 1.066 1.966 2.688 1.000 -0.2745 0.1200
Free Cash Flow 1 -19.9 -2,185 -1,163 -1.444 -114.7 88.63
FCF margin -0.95% -115.98% -56.52% -0.07% -5.09% 3.04%
FCF Conversion (EBITDA) - - - - - 45.56%
FCF Conversion (Net income) - - - - - 109.31%
Dividend per Share 2 0.9804 0.9822 1.369 0.6373 0.2941 -
Announcement Date 29/03/19 31/03/20 30/03/21 23/03/22 14/03/23 29/02/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - 1,716 1,603 944 2,010 1,610
Net Cash position 1 1,565 - - - - -
Leverage (Debt/EBITDA) - -7.262 x -5.188 x -6.905 x -76.38 x 8.277 x
Free Cash Flow 1 -19.9 -2,185 -1,163 -1.44 -115 88.6
ROE (net income / shareholders' equity) 1.27% 3.67% 7.54% 2.94% -0.73% 0.43%
ROA (Net income/ Total Assets) -0.21% -0.77% -1.18% -0.81% -0.64% -0.25%
Assets 1 -325,922 -168,810 -149,993 -80,996 28,043 -32,074
Book Value Per Share 2 29.10 34.70 36.90 38.00 32.30 32.90
Cash Flow per Share 2 3.010 3.140 5.150 5.590 6.770 3.120
Capex 1 597 3,066 752 110 40.8 51.6
Capex / Sales 28.53% 162.76% 36.52% 4.94% 1.81% 1.77%
Announcement Date 29/03/19 31/03/20 30/03/21 23/03/22 14/03/23 29/02/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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