Financials Tahsin Industrial Corporation

Equities

1315

TW0001315000

Apparel & Accessories

End-of-day quote Taiwan S.E. 23:00:00 30/05/2024 BST 5-day change 1st Jan Change
72.2 TWD -0.28% Intraday chart for Tahsin Industrial Corporation +1.40% -0.82%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 5,058 9,037 9,646 8,225 6,716 6,954
Enterprise Value (EV) 1 2,734 6,305 1,286 712.7 204.7 663.1
P/E ratio 22.1 x 13 x 1.78 x 1,534 x 9.49 x 19.9 x
Yield 4.53% 7.71% 11.1% 6.15% 8.53% 6.87%
Capitalization / Revenue 1.99 x 3.7 x 4.32 x 3.46 x 2.52 x 3.22 x
EV / Revenue 1.08 x 2.58 x 0.58 x 0.3 x 0.08 x 0.31 x
EV / EBITDA 65.3 x 71.6 x 15.3 x 11 x 0.88 x 7.21 x
EV / FCF -19.7 x -3.16 x 0.62 x -3.58 x -0.95 x 51.7 x
FCF Yield -5.07% -31.6% 160% -28% -105% 1.93%
Price to Book 0.66 x 1.08 x 0.79 x 0.71 x 0.63 x 0.66 x
Nbr of stocks (in thousands) 95,527 95,527 95,527 95,527 95,527 95,527
Reference price 2 52.95 94.61 101.0 86.10 70.30 72.80
Announcement Date 28/03/19 30/03/20 29/03/21 29/03/22 28/03/23 14/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 2,543 2,441 2,234 2,379 2,669 2,157
EBITDA 1 41.9 88.09 83.89 64.76 232.2 91.93
EBIT 1 -8.894 41.7 32.58 12.27 170.4 14.34
Operating Margin -0.35% 1.71% 1.46% 0.52% 6.38% 0.66%
Earnings before Tax (EBT) 1 243.2 734.6 5,933 280.7 786.7 367.7
Net income 1 229.5 696.2 5,429 5.361 708.2 349.4
Net margin 9.02% 28.53% 243.08% 0.23% 26.53% 16.2%
EPS 2 2.398 7.289 56.83 0.0561 7.410 3.658
Free Cash Flow 1 -138.7 -1,992 2,057 -199.4 -215 12.82
FCF margin -5.45% -81.63% 92.09% -8.38% -8.06% 0.59%
FCF Conversion (EBITDA) - - 2,452.05% - - 13.95%
FCF Conversion (Net income) - - 37.89% - - 3.67%
Dividend per Share 2 2.398 7.293 11.19 5.297 6.000 5.000
Announcement Date 28/03/19 30/03/20 29/03/21 29/03/22 28/03/23 14/03/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 2,323 2,733 8,361 7,512 6,511 6,291
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 -139 -1,992 2,057 -199 -215 12.8
ROE (net income / shareholders' equity) 3.05% 8.66% 52.7% 0.05% 6.4% 3.3%
ROA (Net income/ Total Assets) -0.06% 0.26% 0.18% 0.06% 0.88% 0.08%
Assets 1 -401,168 264,533 3,065,647 9,025 80,740 446,231
Book Value Per Share 2 80.70 87.60 127.0 121.0 111.0 111.0
Cash Flow per Share 2 6.670 6.810 41.70 15.80 21.10 23.50
Capex 1 66 79.3 81.5 401 172 128
Capex / Sales 2.59% 3.25% 3.65% 16.86% 6.43% 5.93%
Announcement Date 28/03/19 30/03/20 29/03/21 29/03/22 28/03/23 14/03/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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