TONG YANG INDUSTRY CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 126.5 TWD | +10.00% |
|
+10.96% | +66.45% |
| 05-07 | Tong Yang Industry Co., Ltd. Announces Cash Dividend, Payable on July 17, 2024 | CI |
| 03-14 | Tong Yang Industry Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 27,592 | 23,068 | 19,578 | 25,493 | 44,952 | 74,822 | - | - |
| Enterprise Value (EV) 1 | 35,150 | 29,380 | 24,894 | 26,608 | 43,116 | 71,336 | 68,040 | 64,416 |
| P/E ratio | 13.9 x | 28.1 x | 28.5 x | 11.8 x | 14.9 x | 17.7 x | 17.3 x | 15.3 x |
| Yield | 3.86% | 2.05% | 2.57% | 5.8% | 5.26% | 3.82% | 4.07% | 4.58% |
| Capitalization / Revenue | 1.28 x | 1.33 x | 1.07 x | 1.2 x | 1.88 x | 2.86 x | 2.67 x | 2.55 x |
| EV / Revenue | 1.63 x | 1.7 x | 1.35 x | 1.25 x | 1.81 x | 2.73 x | 2.42 x | 2.19 x |
| EV / EBITDA | 6.37 x | 7.66 x | 6.49 x | 5.2 x | 6.44 x | 8.62 x | 7.86 x | 6.69 x |
| EV / FCF | 17.1 x | 11.6 x | 16.4 x | 7.88 x | 10.1 x | 14.5 x | 12.9 x | 11.2 x |
| FCF Yield | 5.85% | 8.64% | 6.08% | 12.7% | 9.89% | 6.91% | 7.77% | 8.94% |
| Price to Book | 1.26 x | 1.06 x | 0.9 x | 1.07 x | 1.77 x | 2.7 x | 2.57 x | 2.29 x |
| Nbr of stocks (in thousands) | 591,477 | 591,477 | 591,477 | 591,477 | 591,477 | 591,477 | - | - |
| Reference price 2 | 46.65 | 39.00 | 33.10 | 43.10 | 76.00 | 126.5 | 126.5 | 126.5 |
| Announcement Date | 29/03/20 | 28/03/21 | 29/03/22 | 15/03/23 | 14/03/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 21,614 | 17,323 | 18,380 | 21,283 | 23,859 | 26,171 | 28,074 | 29,388 |
| EBITDA 1 | 5,514 | 3,834 | 3,836 | 5,117 | 6,693 | 8,278 | 8,660 | 9,624 |
| EBIT 1 | 2,164 | 539.6 | 543.1 | 1,935 | 3,744 | 4,840 | 5,313 | 5,897 |
| Operating Margin | 10.01% | 3.12% | 2.95% | 9.09% | 15.69% | 18.5% | 18.92% | 20.07% |
| Earnings before Tax (EBT) 1 | 2,358 | 884.8 | 767.1 | 2,600 | 3,812 | 5,334 | 5,460 | 6,126 |
| Net income 1 | 1,984 | 819.6 | 687.5 | 2,151 | 3,019 | 4,222 | 4,318 | 4,901 |
| Net margin | 9.18% | 4.73% | 3.74% | 10.11% | 12.66% | 16.13% | 15.38% | 16.68% |
| EPS 2 | 3.350 | 1.390 | 1.160 | 3.640 | 5.100 | 7.137 | 7.297 | 8.286 |
| Free Cash Flow 1 | 2,057 | 2,539 | 1,513 | 3,376 | 4,263 | 4,929 | 5,284 | 5,760 |
| FCF margin | 9.52% | 14.66% | 8.23% | 15.86% | 17.87% | 18.83% | 18.82% | 19.6% |
| FCF Conversion (EBITDA) | 37.31% | 66.22% | 39.46% | 65.98% | 63.69% | 59.54% | 61.02% | 59.85% |
| FCF Conversion (Net income) | 103.67% | 309.76% | 220.13% | 156.94% | 141.18% | 116.76% | 122.39% | 117.53% |
| Dividend per Share 2 | 1.800 | 0.8000 | 0.8500 | 2.500 | 4.000 | 4.826 | 5.147 | 5.800 |
| Announcement Date | 29/03/20 | 28/03/21 | 29/03/22 | 15/03/23 | 14/03/24 | - | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,936 | 5,024 | 5,419 | 5,527 | 5,313 | 5,598 | 5,551 | 6,154 | 6,555 | 6,174 | 6,333 | 6,424 | 7,126 | 6,575 | 6,771 |
| EBITDA 1 | - | - | - | - | - | - | - | - | - | 1,911 | 1,819 | 1,724 | 1,958 | - | - |
| EBIT 1 | 102.5 | 266.2 | 474.9 | 558.1 | 635.3 | 720 | 796.6 | 1,018 | 1,210 | 1,211 | 1,198 | 1,034 | 1,386 | 1,301 | 1,340 |
| Operating Margin | 2.08% | 5.3% | 8.76% | 10.1% | 11.96% | 12.86% | 14.35% | 16.54% | 18.45% | 19.61% | 18.92% | 16.09% | 19.46% | 19.79% | 19.79% |
| Earnings before Tax (EBT) 1 | 187.8 | 386.9 | 943.1 | 863.7 | 406.7 | 625.4 | 949.5 | 1,240 | 997.3 | 1,498 | 1,301 | 1,092 | 1,444 | 1,360 | 1,406 |
| Net income 1 | 184.4 | 301.3 | 807.1 | 699.3 | 343.6 | 490.4 | 757.9 | 974.3 | 796.7 | 1,172 | 1,030 | 862 | 1,144 | 1,076 | 1,113 |
| Net margin | 3.74% | 6% | 14.89% | 12.65% | 6.47% | 8.76% | 13.65% | 15.83% | 12.15% | 18.98% | 16.26% | 13.42% | 16.05% | 16.37% | 16.44% |
| EPS 2 | 0.3100 | 0.5100 | 1.360 | 1.190 | 0.5800 | 0.8300 | 1.280 | 1.650 | 1.340 | 1.980 | 1.740 | 1.460 | 1.930 | 1.820 | 1.880 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 29/03/22 | 12/05/22 | 11/08/22 | 11/11/22 | 15/03/23 | 11/05/23 | 10/08/23 | 10/11/23 | 14/03/24 | 14/05/24 | - | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 7,558 | 6,312 | 5,316 | 1,115 | - | - | - | - |
| Net Cash position 1 | - | - | - | - | 1,836 | 3,486 | 6,782 | 10,406 |
| Leverage (Debt/EBITDA) | 1.371 x | 1.646 x | 1.386 x | 0.2179 x | - | - | - | - |
| Free Cash Flow 1 | 2,057 | 2,539 | 1,513 | 3,376 | 4,263 | 4,929 | 5,284 | 5,760 |
| ROE (net income / shareholders' equity) | 9.25% | 3.76% | 3.15% | 9.48% | 12.3% | 15.5% | 15.2% | 15.6% |
| ROA (Net income/ Total Assets) | 5.34% | 2.26% | 1.96% | 6.33% | 8.8% | 11.5% | 11.5% | 11.9% |
| Assets 1 | 37,182 | 36,330 | 35,003 | 33,997 | 34,293 | 36,661 | 37,413 | 41,185 |
| Book Value Per Share 2 | 37.10 | 36.60 | 36.60 | 40.20 | 43.00 | 46.80 | 49.20 | 55.30 |
| Cash Flow per Share | - | 8.350 | 6.570 | - | - | - | - | - |
| Capex 1 | 3,170 | 2,402 | 2,373 | 2,216 | 2,824 | 3,039 | 2,517 | 2,300 |
| Capex / Sales | 14.67% | 13.87% | 12.91% | 10.41% | 11.84% | 11.61% | 8.97% | 7.83% |
| Announcement Date | 29/03/20 | 28/03/21 | 29/03/22 | 15/03/23 | 14/03/24 | - | - | - |
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
Sell
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
126.5
TWD
Average target price
124
TWD
Spread / Average Target
-1.98%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +66.45% | 2.11B | |
| +22.78% | 49.3B | |
| -7.52% | 22.34B | |
| +16.26% | 19.84B | |
| +27.60% | 16.94B | |
| -4.01% | 15.1B | |
| -17.45% | 13.65B | |
| -19.11% | 13.55B | |
| +35.20% | 11.9B | |
| +39.02% | 10.92B |
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- Financials Tong Yang Industry Co., Ltd.
