POU CHEN CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 36.05 TWD | +1.26% |
|
+2.12% | +16.67% |
| 03-15 | Pou Chen Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
| 2023 | Yue Yuen Industrial Extends Lease for Office, Factory in Taiwan | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 115,514 | 92,529 | 97,686 | 100,780 | 91,056 | 106,232 | - |
| Enterprise Value (EV) 1 | 175,628 | 145,919 | 147,546 | 100,780 | 91,056 | 127,969 | 129,376 |
| P/E ratio | 9.78 x | 19.1 x | 6.78 x | 7.97 x | 7.22 x | 8.66 x | 7.45 x |
| Yield | 3.19% | 1.59% | - | - | - | 2.91% | 3.22% |
| Capitalization / Revenue | 0.37 x | 0.37 x | 0.41 x | 0.38 x | 0.37 x | 0.42 x | 0.38 x |
| EV / Revenue | 0.56 x | 0.58 x | 0.62 x | 0.38 x | 0.37 x | 0.5 x | 0.47 x |
| EV / EBITDA | 5.92 x | 10.1 x | 7.66 x | 2.63 x | 2.66 x | 3.26 x | 3.62 x |
| EV / FCF | 14.5 x | 11.7 x | 30.1 x | - | - | 14.2 x | 17.1 x |
| FCF Yield | 6.89% | 8.53% | 3.32% | - | - | 7.05% | 5.84% |
| Price to Book | 0.98 x | 0.69 x | 0.7 x | 0.94 x | - | 0.79 x | 0.82 x |
| Nbr of stocks (in thousands) | 2,946,787 | 2,946,787 | 2,946,787 | 2,946,787 | 2,946,787 | 2,946,787 | - |
| Reference price 2 | 39.20 | 31.40 | 33.15 | 34.20 | 30.90 | 36.05 | 36.05 |
| Announcement Date | 30/03/20 | 23/03/21 | 16/03/22 | 16/03/23 | 15/03/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 313,157 | 249,954 | 239,884 | 267,497 | 246,634 | 255,864 | 277,392 |
| EBITDA 1 | 29,680 | 14,500 | 19,252 | 38,298 | 34,192 | 39,245 | 35,783 |
| EBIT 1 | 13,950 | -2,111 | 2,476 | 10,596 | 10,216 | 11,936 | 11,968 |
| Operating Margin | 4.45% | -0.84% | 1.03% | 3.96% | 4.14% | 4.67% | 4.31% |
| Earnings before Tax (EBT) 1 | 21,522 | 5,961 | 17,157 | 21,432 | 19,467 | 22,218 | 26,397 |
| Net income 1 | 11,829 | 4,840 | 14,439 | 12,645 | 10,624 | 12,266 | 14,255 |
| Net margin | 3.78% | 1.94% | 6.02% | 4.73% | 4.31% | 4.79% | 5.14% |
| EPS 2 | 4.010 | 1.640 | 4.890 | 4.290 | 4.280 | 4.165 | 4.840 |
| Free Cash Flow 1 | 12,095 | 12,448 | 4,899 | - | - | 9,027 | 7,557 |
| FCF margin | 3.86% | 4.98% | 2.04% | - | - | 3.53% | 2.72% |
| FCF Conversion (EBITDA) | 40.75% | 85.85% | 25.45% | - | - | 23% | 21.12% |
| FCF Conversion (Net income) | 102.25% | 257.18% | 33.93% | - | - | 73.59% | 53.01% |
| Dividend per Share 2 | 1.250 | 0.5000 | - | - | - | 1.050 | 1.160 |
| Announcement Date | 30/03/20 | 23/03/21 | 16/03/22 | 16/03/23 | 15/03/24 | - | - |
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 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 45,631 | 58,461 | 67,263 | 68,338 | 68,976 | 62,920 | 63,095 | 58,296 | 60,876 | 64,986 | 65,909 | 61,236 | 63,732 | 63,856 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | -3,399 | -556.2 | 2,573 | 2,390 | 3,596 | 2,037 | 1,793 | 1,522 | 4,872 | 3,179 | 3,430 | 2,249 | 3,079 | 3,163 |
| Operating Margin | -7.45% | -0.95% | 3.83% | 3.5% | 5.21% | 3.24% | 2.84% | 2.61% | 8% | 4.89% | 5.2% | 3.67% | 4.83% | 4.95% |
| Earnings before Tax (EBT) 1 | 896.7 | 941.2 | 6,762 | 7,414 | 8,216 | -959.9 | 5,118 | - | - | 4,724 | 6,112 | 6,422 | 4,958 | 5,714 |
| Net income 1 | 2,556 | 1,913 | 4,639 | 5,061 | 5,728 | -2,783 | 3,507 | - | 42.44 | 2,603 | 3,378 | 3,559 | 2,726 | 3,085 |
| Net margin | 5.6% | 3.27% | 6.9% | 7.41% | 8.31% | -4.42% | 5.56% | - | 0.07% | 4.01% | 5.13% | 5.81% | 4.28% | 4.83% |
| EPS 2 | 0.8700 | 0.6400 | 1.570 | 1.710 | 1.940 | -0.9400 | 1.180 | - | 0.7000 | 0.8850 | 1.145 | 1.210 | 0.9250 | 1.050 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 12/11/21 | 16/03/22 | 13/05/22 | 12/08/22 | 11/11/22 | 16/03/23 | 14/08/23 | 14/11/23 | 15/03/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | 60,114 | 53,390 | 49,860 | - | - | 21,737 | 23,144 |
| Net Cash position 1 | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.025 x | 3.682 x | 2.59 x | - | - | 0.5539 x | 0.6468 x |
| Free Cash Flow 1 | 12,095 | 12,448 | 4,899 | - | - | 9,027 | 7,557 |
| ROE (net income / shareholders' equity) | 12.1% | 3.85% | 10.6% | 10.3% | - | 7.89% | 7.37% |
| ROA (Net income/ Total Assets) | 3.55% | 1.32% | 3.92% | 3.66% | - | 4.15% | 4.16% |
| Assets 1 | 333,661 | 366,681 | 367,899 | 345,710 | - | 295,578 | 342,668 |
| Book Value Per Share 2 | 39.80 | 45.50 | 47.30 | 36.30 | - | 45.70 | 43.90 |
| Cash Flow per Share | - | - | - | - | - | - | - |
| Capex 1 | 12,414 | 7,910 | 7,729 | 6,377 | - | 7,456 | 12,025 |
| Capex / Sales | 3.96% | 3.16% | 3.22% | 2.38% | - | 2.91% | 4.33% |
| Announcement Date | 30/03/20 | 23/03/21 | 16/03/22 | 16/03/23 | 15/03/24 | - | - |
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
BUY
Number of Analysts
3
Last Close Price
36.05
TWD
Average target price
38.67
TWD
Spread / Average Target
+7.26%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +16.67% | 3.26B | |
| +24.69% | 21.39B | |
| +21.58% | 10.31B | |
| +4.92% | 10.21B | |
| -6.73% | 8.54B | |
| +34.25% | 7.61B | |
| -13.48% | 6.99B | |
| +65.97% | 2.95B | |
| -8.00% | 2.48B | |
| -17.43% | 2.1B |
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