Financials Fubon Financial Holding Co., Ltd.

Equities

2881

TW0002881000

Life & Health Insurance

End-of-day quote Taiwan S.E. Other stock markets 11/03/2026			5-day change	1st Jan Change
89.20 ^TWD	+1.02%		-0.67%	-7.18%

03-10	Fubon Financial Unit to Inject HK$120 Million in Hong Kong Subsidiary	MT
03-02	Fubon Financial to Issue Debentures Worth NT$5 Billion	MT

Projected Income Statement: Fubon Financial Holding Co., Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	476,506	485,832	259,458	167,799	347,463	300,579	354,079	376,556
Change	-	1.96%	-46.6%	-35.33%	107.07%	-13.49%	17.8%	6.35%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	103,128	165,589	60,946	74,444	172,308	141,834	155,453	157,781
Change	-	60.57%	-63.19%	22.15%	131.46%	-17.69%	9.6%	1.5%
Interest Paid	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	103,128	165,589	60,946	74,444	172,308	121,517	151,254	153,684
Change	-	60.57%	-63.19%	22.15%	131.46%	-29.48%	24.47%	1.61%
Net income ¹	90,272	144,559	46,926	66,017	150,820	110,825	131,085	132,864
Change	-	60.14%	-67.54%	40.68%	128.46%	-26.52%	18.28%	1.36%
Announcement Date	31/03/21	28/03/22	16/03/23	15/03/24	17/03/25	-	-	-

¹TWD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	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	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	106,423	147,324	121,875	110,037	106,596	134,095	92,045	64,456	-31,138	32,038	66,121	55,441	14,198	89,205	84,809	69,995	103,454	108,974	3,795	124,668	80,313	110,445	67,392	84,260	75,875	115,415
Change	-	38.43%	-17.27%	-9.71%	-3.13%	25.8%	-31.36%	-29.97%	-148.31%	202.89%	106.38%	-16.15%	-74.39%	528.28%	-4.93%	-17.47%	47.8%	5.34%	-96.52%	3,185.09%	-35.58%	37.52%	-38.98%	25.03%	-9.95%	52.11%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	24,890	-	43,630	46,661	16,479	57,557	29,674	17,578	-	-	-	32,351	-4,297	34,999	54,562	47,118	35,629	51,588	8,296	44,865	26,283	-	-	-	-	-
Change	-	-	-	6.95%	-64.68%	249.28%	-48.44%	-40.76%	-	-	-	-	-113.28%	914.5%	55.89%	-13.64%	-24.38%	44.79%	-83.92%	440.78%	-41.42%	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	24,890	58,820	43,630	46,661	16,479	57,557	29,674	17,578	-	14,024	32,366	32,351	-4,297	34,999	54,562	47,118	35,629	51,588	8,296	44,865	19,724	64,034	26,475	53,654	31,596	60,271
Change	-	136.32%	-25.82%	6.95%	-64.68%	249.28%	-48.44%	-40.76%	-	-	130.79%	-0.05%	-113.28%	914.5%	55.89%	-13.64%	-24.38%	44.79%	-83.92%	440.78%	-56.04%	224.65%	-58.65%	102.66%	-41.11%	90.76%
Net income ¹	22,067	50,552	37,044	42,614	11,990	46,477	22,927	14,310	-36,788	-	28,922	24,908	-1,796	30,408	50,907	39,995	29,511	41,058	10,326	39,522	24,909	58,967	22,445	46,843	32,340	53,566
Change	-	129.09%	-26.72%	15.04%	-71.86%	287.64%	-50.67%	-37.58%	-357.08%	-	-	-13.88%	-107.21%	1,792.85%	67.42%	-21.44%	-26.21%	39.13%	-74.85%	282.75%	-36.97%	136.73%	-61.94%	108.7%	-30.96%	65.63%
Announcement Date	31/03/21	20/05/21	20/08/21	26/11/21	28/03/22	27/05/22	20/08/22	28/11/22	16/03/23	18/05/23	30/08/23	17/11/23	15/03/24	26/06/24	29/08/24	26/11/24	17/03/25	29/05/25	22/08/25	24/11/25	-	-	-	-	-	-

¹TWD in Million

Estimates

Fiscal Period: December	2021 S1
Net sales	-
Change	-
EBITDA	-
Change	-
EBIT	-
Change	-
Charge d'intérêts	-
Earnings before Tax (EBT)	-
Change	-
Net income ¹	87,596
Change	-
Announcement Date	20/08/21

¹TWD in Million

Estimates

Forecast Balance Sheet: Fubon Financial Holding Co., Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	-	-	151,333	196,276	144,777	-	-	-
Change	-	-	-	29.7%	-26.24%	-	-	-
Announcement Date	31/03/21	28/03/22	16/03/23	15/03/24	17/03/25	-	-	-

Estimates

Cash Flow Forecast: Fubon Financial Holding Co., Ltd.

Fiscal Period: December	2019	2020	2021	2022	2023	2024
CAPEX ¹	2,094	3,891	2,871	2,652	4,435	4,700
Change	-	85.8%	-26.22%	-7.62%	67.21%	5.98%
Free Cash Flow (FCF) ¹	-332,425	266,338	48,914	7,491	-317,287	-194,107
Change	-	180.12%	-81.63%	-84.69%	-4,335.55%	38.82%
Announcement Date	31/03/20	31/03/21	28/03/22	16/03/23	15/03/24	17/03/25

¹TWD in Million

Estimates

Forecast Financial Ratios: Fubon Financial Holding Co., Ltd.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-	-
EBIT Margin (%)	-	21.64%	34.08%	23.49%	44.36%	49.59%	47.19%	43.9%	41.9%
EBT Margin (%)	-	21.64%	34.08%	23.49%	44.36%	49.59%	40.43%	42.72%	40.81%
Net margin (%)	-	18.94%	29.75%	18.09%	39.34%	43.41%	36.87%	37.02%	35.28%
FCF margin (%)	-	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-	-
Profitability
ROA	-	1.02%	1.49%	0.45%	0.61%	1.3%	0.98%	1.17%	0.92%
ROE	-	13.17%	16.73%	6.15%	9.65%	17.2%	12.76%	12.88%	11.49%
Financial Health
Leverage (Debt/EBITDA)	1.31x	0.17x	1.13x	-3.51x	1.51x	1.46x	-	-	-
Debt / Free cash flow	-0.53x	0.15x	5.02x	29.35x	-0.86x	-1.28x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	3.687	2.411	10.37	-	5.527	-	-	-
Change	-	-	-34.61%	330.05%	-	-	-	-	-
Dividend per Share ¹	-	2.298	2.95	3.097	2.323	-	3.48	3.898	4.261
Change	-	-	28.33%	5%	-25%	-	-	12.02%	9.31%
Book Value Per Share ¹	-	57.11	70.56	40.39	57.29	67.9	67.21	72.94	81.29
Change	-	-	23.54%	-42.76%	41.85%	18.53%	-1.02%	8.54%	11.44%
EPS ¹	-	6.543	10.53	3.133	4.46	10.51	7.793	8.942	9.385
Change	-	-	60.88%	-70.24%	42.37%	135.59%	-25.83%	14.74%	4.96%
Nbr of stocks (in thousands)	-	13,357,127	15,877,077	14,007,364	14,007,365	14,007,365	13,665,722	13,665,722	13,665,722
Announcement Date	-	31/03/21	28/03/22	16/03/23	15/03/24	17/03/25	-	-	-