Financials SinoPac Financial Holdings Company Limited

Equities

2890

TW0002890001

Banks

End-of-day quote Taiwan S.E. 03:30:00 26/04/2024 am IST 5-day change 1st Jan Change
21.3 TWD -0.23% Intraday chart for SinoPac Financial Holdings Company Limited +0.47% +8.12%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 1,46,654 1,29,054 1,82,028 1,90,846 2,44,013 2,63,831 -
Enterprise Value (EV) 1 1,46,654 1,29,054 1,82,028 1,90,846 2,44,013 2,63,831 2,63,831
P/E ratio 11.7 x 10.6 x 11.3 x 12 x 12.2 x 12.8 x 13 x
Yield 5.38% 6.11% 4.95% - - 4.04% 4.02%
Capitalization / Revenue 4.04 x 3.31 x 3.98 x 4.04 x 4.53 x 4.79 x 4.68 x
EV / Revenue 4.04 x 3.31 x 3.98 x 4.04 x 4.53 x 4.79 x 4.68 x
EV / EBITDA - - - - - - -
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Price to Book 0.99 x 0.83 x 1.12 x 1.24 x 1.29 x 1.33 x 1.27 x
Nbr of stocks (in thousands) 1,16,21,742 1,16,11,440 1,16,11,440 1,16,21,640 1,23,86,440 1,23,86,440 -
Reference price 2 12.62 11.11 15.68 16.42 19.70 21.30 21.30
Announcement Date 19/03/20 11/03/21 03/03/22 10/03/23 08/03/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 36,330 39,006 45,689 47,246 53,901 55,120 56,332
EBITDA - - - - - - -
EBIT 1 15,093 16,364 20,820 21,849 25,375 24,945 24,093
Operating Margin 41.54% 41.95% 45.57% 46.25% 47.08% 45.26% 42.77%
Earnings before Tax (EBT) 1 14,257 13,938 18,593 19,405 23,071 22,138 22,338
Net income 1 12,477 12,204 16,169 15,961 19,764 19,924 19,464
Net margin 34.34% 31.29% 35.39% 33.78% 36.67% 36.15% 34.55%
EPS 2 1.077 1.048 1.388 1.373 1.620 1.670 1.643
Free Cash Flow - - - - - - -
FCF margin - - - - - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.6795 0.6795 0.7766 - - 0.8600 0.8568
Announcement Date 19/03/20 11/03/21 03/03/22 10/03/23 08/03/24 - -
1TWD in Million2TWD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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 2025 Q1
Net sales 1 12,244 10,541 12,510 11,598 12,928 10,210 12,818 13,750 14,513 12,820 13,775 13,151 12,835 13,029 13,232
EBITDA - - - - - - - - - - - - - - -
EBIT - 4,484 - - - - - - - - - - - - -
Operating Margin - 42.54% - - - - - - - - - - - - -
Earnings before Tax (EBT) 1 5,041 3,830 5,258 4,756 5,644 3,746 5,526 6,196 6,568 4,829 6,387 5,544 4,810 5,397 5,739
Net income 1 4,206 3,375 4,409 3,819 4,708 3,025 4,749 5,351 5,647 4,053 5,748 4,990 4,329 4,857 5,165
Net margin 34.35% 32.02% 35.24% 32.93% 36.42% 29.63% 37.05% 38.92% 38.91% 31.61% 41.73% 37.94% 33.73% 37.28% 39.03%
EPS 2 0.3592 0.2912 0.3786 0.3333 0.4020 0.2549 0.4020 0.4300 0.4600 0.3300 0.4600 0.4000 0.3500 0.3900 0.4200
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 19/11/21 03/03/22 20/05/22 19/08/22 18/11/22 10/03/23 19/05/23 25/08/23 31/10/23 08/03/24 - - - - -
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow - - - - - - -
ROE (net income / shareholders' equity) 8.6% 8.02% 10.2% 10.1% 11.5% 10.3% 10%
ROA (Net income/ Total Assets) 0.73% 0.61% 0.71% 0.64% 0.74% 0.69% 0.65%
Assets 1 17,19,072 20,00,656 22,77,324 24,93,906 26,79,917 28,87,536 29,94,420
Book Value Per Share 2 12.80 13.40 14.00 13.30 15.20 16.10 16.70
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 19/03/20 11/03/21 03/03/22 10/03/23 08/03/24 - -
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
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
21.3 TWD
Average target price
21.45 TWD
Spread / Average Target
+0.70%
Consensus
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