Financials Taiming Assurance Broker Co.,Ltd.

Equities

5878

TW0005878003

Multiline Insurance & Brokers

End-of-day quote Taipei Exchange 06:00:00 2024-05-02 pm EDT 5-day change 1st Jan Change
48.15 TWD -0.31% Intraday chart for Taiming Assurance Broker Co.,Ltd. 0.00% +1.16%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,080 1,131 1,136 1,186 1,196 1,191
Enterprise Value (EV) 1 814.4 945.3 922.6 943.8 991.2 966.4
P/E ratio 14.3 x 14.9 x 13.1 x 15.9 x 18.2 x 21.6 x
Yield 6.03% 6.64% 7.05% 6.33% 5.65% 5.25%
Capitalization / Revenue 1.5 x 1.31 x 1.24 x 1.46 x 1.62 x 1.52 x
EV / Revenue 1.13 x 1.09 x 1.01 x 1.16 x 1.34 x 1.23 x
EV / EBITDA 10.3 x 10.3 x 8.35 x 10.2 x 13.4 x 16.2 x
EV / FCF 18.3 x 17.3 x 10 x 10.3 x 14.8 x 18.5 x
FCF Yield 5.46% 5.77% 9.97% 9.67% 6.78% 5.4%
Price to Book 2.42 x 2.11 x 2.06 x 2.08 x 2.24 x 2.2 x
Nbr of stocks (in thousands) 23,688 25,024 25,024 25,024 25,024 25,024
Reference price 2 45.60 45.20 45.40 47.40 47.80 47.60
Announcement Date 2/26/19 3/26/20 3/25/21 3/25/22 3/25/23 3/14/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 720.6 863.5 914.5 812.6 737.9 784.4
EBITDA 1 79.29 91.99 110.5 92.82 73.95 59.77
EBIT 1 75.99 85.47 103.1 85.16 66.89 53.75
Operating Margin 10.54% 9.9% 11.28% 10.48% 9.06% 6.85%
Earnings before Tax (EBT) 1 84.04 88.1 109 92.59 80.07 66.82
Net income 1 75.81 74.5 86.84 74.68 65.95 55.09
Net margin 10.52% 8.63% 9.5% 9.19% 8.94% 7.02%
EPS 2 3.190 3.040 3.460 2.980 2.630 2.200
Free Cash Flow 1 44.44 54.53 91.98 91.24 67.19 52.19
FCF margin 6.17% 6.32% 10.06% 11.23% 9.11% 6.65%
FCF Conversion (EBITDA) 56.05% 59.28% 83.28% 98.3% 90.86% 87.31%
FCF Conversion (Net income) 58.63% 73.2% 105.92% 122.18% 101.88% 94.73%
Dividend per Share 2 2.750 3.000 3.200 3.000 2.700 2.500
Announcement Date 2/26/19 3/26/20 3/25/21 3/25/22 3/25/23 3/14/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 266 186 213 242 205 225
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 44.4 54.5 92 91.2 67.2 52.2
ROE (net income / shareholders' equity) 14.2% 13.7% 16% 13.3% 12% 10.2%
ROA (Net income/ Total Assets) 7.64% 7.33% 8.01% 6.75% 5.4% 4.3%
Assets 1 992.6 1,016 1,085 1,106 1,222 1,282
Book Value Per Share 2 18.80 21.40 22.10 22.70 21.30 21.60
Cash Flow per Share 2 4.630 3.400 3.780 3.410 4.280 2.160
Capex 1 1.8 2.38 5.62 3.9 0.52 1.62
Capex / Sales 0.25% 0.28% 0.61% 0.48% 0.07% 0.21%
Announcement Date 2/26/19 3/26/20 3/25/21 3/25/22 3/25/23 3/14/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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