CTBC FINANCIAL HOLDING CO., LTD. |
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 31.15 TWD | +0.48% |
|
+0.48% | +9.88% |
| Apr. 26 | CTBC Financial Holding Co., Ltd. Announces Cash Dividends for the Year Ended December 31, 2023 | CI |
| Apr. 05 | CTBC Financial Holding Co., Ltd. Announces Board Appointments | CI |
Valuation
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 393,839 | 436,733 | 384,091 | 505,947 | 443,858 | 626,800 | 626,800 | - |
| Enterprise Value (EV) 1 | 393,839 | 436,733 | 384,091 | 505,947 | 443,858 | 569,361 | 626,800 | 626,800 |
| P/E ratio | 10.9 x | 10.4 x | 9.16 x | 9.51 x | 14.3 x | 10.1 x | 9.94 x | 9.41 x |
| Yield | 4.95% | 4.46% | 5.33% | 4.82% | - | 3.85% | 4.3% | 4.62% |
| Capitalization / Revenue | 1.25 x | 1.65 x | 1.98 x | 2.72 x | 3.19 x | 4.31 x | 3.01 x | 2.99 x |
| EV / Revenue | 1.25 x | 1.65 x | 1.98 x | 2.72 x | 3.19 x | 4.31 x | 3.01 x | 2.99 x |
| EV / EBITDA | - | - | - | - | - | - | - | - |
| EV / FCF | - | - | - | - | - | - | - | - |
| FCF Yield | - | - | - | - | - | - | - | - |
| Price to Book | 1.25 x | 1.24 x | 0.95 x | 1.18 x | - | 1.35 x | 1.27 x | 1.19 x |
| Nbr of stocks (in thousands) | 19,496,990 | 19,496,990 | 19,496,990 | 19,496,990 | 20,084,065 | 20,121,999 | 20,121,999 | - |
| Reference price 2 | 20.20 | 22.40 | 19.70 | 25.95 | 22.10 | 31.15 | 31.15 | 31.15 |
| Announcement Date | 3/20/19 | 3/12/20 | 3/18/21 | 3/15/22 | 3/15/23 | 3/13/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 314,375 | 264,718 | 194,406 | 186,058 | 139,252 | 132,066 | 208,321 | 209,383 |
| EBITDA | - | - | - | - | - | - | - | - |
| EBIT 1 | 47,292 | 57,450 | 60,835 | 69,759 | 56,035 | 76,608 | 77,085 | 89,466 |
| Operating Margin | 15.04% | 21.7% | 31.29% | 37.49% | 40.24% | 58.01% | 37% | 42.73% |
| Earnings before Tax (EBT) 1 | 42,389 | 51,809 | 51,577 | 62,044 | 47,049 | 66,934 | 77,825 | 79,812 |
| Net income 1 | 36,032 | 42,880 | 42,853 | 54,205 | 31,279 | 56,081 | 62,188 | 64,639 |
| Net margin | 11.46% | 16.2% | 22.04% | 29.13% | 22.46% | 42.46% | 29.85% | 30.87% |
| EPS 2 | 1.850 | 2.160 | 2.150 | 2.730 | 1.550 | 2.820 | 3.134 | 3.309 |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| FCF margin | - | - | - | - | - | - | - | - |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | - |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 1.000 | 1.000 | 1.050 | 1.250 | - | 1.200 | 1.340 | 1.440 |
| Announcement Date | 3/20/19 | 3/12/20 | 3/18/21 | 3/15/22 | 3/15/23 | 3/13/24 | - | - |
1TWD in Million2TWD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q2 | 2021 Q3 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 37,980 | 50,790 | 49,667 | 57,568 | 43,059 | 36,130 | 2,495 | 23,538 | 38,952 | 48,139 | 21,437 | 57,135 | 51,173 | 52,500 | 43,715 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 16,289 | - | - | - | - | - | - | 16,984 | 19,594 | 26,589 | 13,441 | 25,701 | 19,467 | 18,052 | 10,101 |
| Operating Margin | 42.89% | - | - | - | - | - | - | 72.16% | 50.3% | 55.23% | 62.7% | 44.98% | 38.04% | 34.38% | 23.11% |
| Earnings before Tax (EBT) 1 | 14,915 | 15,911 | 8,664 | 21,067 | 12,621 | 13,110 | 251.1 | 15,796 | 17,045 | 23,678 | 10,415 | 25,701 | 19,467 | 18,052 | 10,101 |
| Net income 1 | 13,741 | 13,026 | 7,730 | 16,292 | 8,003 | 7,891 | -907.3 | 12,959 | 15,854 | 19,773 | 7,495 | 20,588 | 16,268 | 14,656 | 7,563 |
| Net margin | 36.18% | 25.65% | 15.56% | 28.3% | 18.59% | 21.84% | -36.37% | 55.06% | 40.7% | 41.07% | 34.96% | 36.03% | 31.79% | 27.92% | 17.3% |
| EPS 2 | 0.7000 | 0.6100 | 0.4000 | 0.8400 | 0.3500 | 0.4100 | -0.0500 | 0.6600 | 0.8100 | 0.9600 | 0.3900 | 1.040 | 0.8100 | 0.7300 | 0.3800 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 8/20/21 | 11/19/21 | 3/15/22 | 5/24/22 | 8/19/22 | 11/18/22 | 3/15/23 | 5/26/23 | 8/25/23 | 11/14/23 | 3/13/24 | - | - | - | - |
1TWD in Million2TWD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - |
| ROE (net income / shareholders' equity) | 12.1% | 13% | 10.9% | 13% | - | 14.6% | 13.4% | 12.8% |
| ROA (Net income/ Total Assets) | 0.65% | 0.72% | 0.67% | 0.79% | - | 0.72% | 0.7% | 0.71% |
| Assets 1 | 5,543,385 | 5,955,556 | 6,418,063 | 6,850,115 | - | 7,789,094 | 8,883,959 | 9,116,970 |
| Book Value Per Share 2 | 16.20 | 18.00 | 20.80 | 22.10 | - | 21.00 | 24.40 | 26.10 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex | - | - | - | - | - | - | - | - |
| Capex / Sales | - | - | - | - | - | - | - | - |
| Announcement Date | 3/20/19 | 3/12/20 | 3/18/21 | 3/15/22 | 3/15/23 | 3/13/24 | - | - |
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
11
Last Close Price
31.15
TWD
Average target price
33.03
TWD
Spread / Average Target
+6.03%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +9.88% | 19.21B | |
| +13.75% | 556B | |
| +12.36% | 298B | |
| +8.64% | 247B | |
| +21.72% | 210B | |
| +16.11% | 170B | |
| +6.88% | 162B | |
| +4.42% | 153B | |
| -11.67% | 138B | |
| +0.10% | 139B |
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