TONGHWA CORPORATION |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 38.95 TWD | +9.87% |
|
+32.48% | +89.54% |
| 05-15 | TongHwa Corporation Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
| 03-15 | TongHwa Corporation Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Capitalization 1 | 421.8 | 328.5 | 391.4 | 632.6 | 765.6 | 1,116 |
| Enterprise Value (EV) 1 | 1,558 | 1,519 | 1,757 | 2,135 | 2,481 | 3,002 |
| P/E ratio | -1.94 x | -1.53 x | -1.72 x | -3.75 x | 35.1 x | 27.9 x |
| Yield | - | - | - | - | - | - |
| Capitalization / Revenue | 0.65 x | 1.55 x | 3.91 x | 16.1 x | 36.9 x | 54.2 x |
| EV / Revenue | 2.39 x | 7.18 x | 17.5 x | 54.3 x | 120 x | 146 x |
| EV / EBITDA | -12.8 x | -12 x | -8.44 x | -12.6 x | -30.4 x | -42.1 x |
| EV / FCF | -1,016 x | -8.92 x | -19.6 x | -50.4 x | -33.5 x | -22.9 x |
| FCF Yield | -0.1% | -11.2% | -5.11% | -1.98% | -2.98% | -4.38% |
| Price to Book | 0.5 x | 0.52 x | 0.96 x | 0.52 x | 0.62 x | 0.88 x |
| Nbr of stocks (in thousands) | 54,291 | 54,291 | 54,291 | 54,301 | 54,301 | 54,311 |
| Reference price 2 | 7.770 | 6.050 | 7.210 | 11.65 | 14.10 | 20.55 |
| Announcement Date | 01/04/19 | 31/03/20 | 31/03/21 | 29/03/22 | 30/03/23 | 15/03/24 |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net sales 1 | 653.1 | 211.5 | 100.1 | 39.3 | 20.75 | 20.59 |
| EBITDA 1 | -121.6 | -126.8 | -208.1 | -169.2 | -81.59 | -71.25 |
| EBIT 1 | -199 | -192.7 | -247.3 | -180.6 | -82.71 | -73.61 |
| Operating Margin | -30.47% | -91.08% | -246.91% | -459.66% | -398.51% | -357.55% |
| Earnings before Tax (EBT) 1 | -217.8 | -214.1 | -221.3 | -159.7 | 21.16 | 40.15 |
| Net income 1 | -217.9 | -214.1 | -228.2 | -168.6 | 21.82 | 39.98 |
| Net margin | -33.37% | -101.2% | -227.89% | -428.92% | 105.12% | 194.21% |
| EPS 2 | -4.014 | -3.943 | -4.204 | -3.104 | 0.4018 | 0.7362 |
| Free Cash Flow 1 | -1.533 | -170.2 | -89.69 | -42.38 | -74.01 | -131.4 |
| FCF margin | -0.23% | -80.48% | -89.56% | -107.85% | -356.6% | -638.18% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - |
| Announcement Date | 01/04/19 | 31/03/20 | 31/03/21 | 29/03/22 | 30/03/23 | 15/03/24 |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Net Debt 1 | 1,136 | 1,191 | 1,365 | 1,503 | 1,716 | 1,886 |
| Net Cash position 1 | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | -9.342 x | -9.394 x | -6.56 x | -8.88 x | -21.03 x | -26.48 x |
| Free Cash Flow 1 | -1.53 | -170 | -89.7 | -42.4 | -74 | -131 |
| ROE (net income / shareholders' equity) | -46.5% | -28.8% | -43.8% | -20.9% | 1.79% | 3.2% |
| ROA (Net income/ Total Assets) | -5.85% | -4.7% | -6.59% | -3.9% | -1.39% | -1.1% |
| Assets 1 | 3,724 | 4,555 | 3,462 | 4,321 | -1,571 | -3,635 |
| Book Value Per Share 2 | 15.60 | 11.70 | 7.500 | 22.20 | 22.60 | 23.40 |
| Cash Flow per Share 2 | 4.410 | 3.780 | 1.030 | 6.500 | 8.250 | 15.20 |
| Capex 1 | 24.7 | 27.6 | 18.3 | 2.23 | 4.57 | 53.6 |
| Capex / Sales | 3.79% | 13.05% | 18.25% | 5.68% | 22.02% | 260.33% |
| Announcement Date | 01/04/19 | 31/03/20 | 31/03/21 | 29/03/22 | 30/03/23 | 15/03/24 |
1TWD in Million2TWD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
| 1st Jan change | Capi. | |
|---|---|---|
| +89.54% | 64.88M | |
| +5.68% | 5.26B | |
| +9.99% | 5.04B | |
| +15.29% | 2.42B | |
| +3.01% | 1.51B | |
| -2.39% | 1.44B | |
| -15.84% | 902M | |
| -11.51% | 888M | |
| +5.37% | 652M | |
| -35.12% | 392M |
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