Financials Huang Hsiang Construction Corporation

Equities

2545

TW0002545001

Real Estate Development & Operations

End-of-day quote Taiwan S.E. 23:00:00 12/05/2024 BST 5-day change 1st Jan Change
59.6 TWD +4.20% Intraday chart for Huang Hsiang Construction Corporation -10.11% +38.44%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 8,374 13,109 12,552 12,274 13,258 14,110
Enterprise Value (EV) 1 34,132 40,835 40,716 43,732 48,194 52,288
P/E ratio 9.9 x 1,000 x 7.2 x 5.03 x 7.01 x 18.6 x
Yield 7.05% 3% 11.7% 16.8% 11.4% 5.34%
Capitalization / Revenue 2.74 x 4.11 x 1.94 x 1.56 x 1.88 x 2.97 x
EV / Revenue 11.2 x 12.8 x 6.31 x 5.57 x 6.82 x 11 x
EV / EBITDA 57.1 x 85.6 x 18.7 x 14.7 x 22.6 x 38.3 x
EV / FCF 340 x -199 x 1,274 x -18.2 x -21.4 x -47 x
FCF Yield 0.29% -0.5% 0.08% -5.5% -4.67% -2.13%
Price to Book 0.79 x 1.3 x 1.1 x 0.99 x 1.08 x 1.23 x
Nbr of stocks (in thousands) 327,735 327,735 327,735 327,735 327,755 327,755
Reference price 2 25.55 40.00 38.30 37.45 40.45 43.05
Announcement Date 29/03/19 31/03/20 31/03/21 31/03/22 16/03/23 15/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 3,061 3,193 6,456 7,850 7,069 4,746
EBITDA 1 597.8 477.3 2,175 2,972 2,133 1,366
EBIT 1 553.9 378.1 2,074 2,849 2,012 1,253
Operating Margin 18.1% 11.84% 32.12% 36.29% 28.46% 26.41%
Earnings before Tax (EBT) 1 894.2 57.17 1,765 2,514 1,967 917.8
Net income 1 847.4 14.34 1,747 2,446 1,896 761.8
Net margin 27.68% 0.45% 27.05% 31.16% 26.82% 16.05%
EPS 2 2.580 0.0400 5.320 7.450 5.770 2.320
Free Cash Flow 1 100.3 -205.3 31.96 -2,406 -2,253 -1,112
FCF margin 3.28% -6.43% 0.5% -30.65% -31.86% -23.42%
FCF Conversion (EBITDA) 16.78% - 1.47% - - -
FCF Conversion (Net income) 11.84% - 1.83% - - -
Dividend per Share 2 1.800 1.200 4.500 6.300 4.600 2.300
Announcement Date 29/03/19 31/03/20 31/03/21 31/03/22 16/03/23 15/03/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 25,758 27,726 28,164 31,459 34,936 38,179
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 43.09 x 58.09 x 12.95 x 10.58 x 16.38 x 27.96 x
Free Cash Flow 1 100 -205 32 -2,406 -2,253 -1,112
ROE (net income / shareholders' equity) 8.1% 0.14% 16.3% 20.5% 15.4% 6.43%
ROA (Net income/ Total Assets) 0.87% 0.59% 3.17% 4% 2.56% 1.5%
Assets 1 97,166 2,417 55,101 61,158 74,111 50,880
Book Value Per Share 2 32.50 30.70 34.90 37.80 37.30 35.00
Cash Flow per Share 2 2.130 1.750 1.390 4.650 5.340 5.050
Capex 1 220 186 165 116 144 183
Capex / Sales 7.2% 5.83% 2.55% 1.47% 2.04% 3.86%
Announcement Date 29/03/19 31/03/20 31/03/21 31/03/22 16/03/23 15/03/24
1TWD in Million2TWD
Estimates
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