Financials Wei Chuan Foods Corporation

Equities

1201

TW0001201002

Food Processing

End-of-day quote Taiwan S.E. 03:30:00 26/04/2024 am IST 5-day change 1st Jan Change
18.65 TWD -0.53% Intraday chart for Wei Chuan Foods Corporation +1.36% -2.10%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 11,260 12,677 11,285 11,260 9,640 9,640
Enterprise Value (EV) 1 16,858 17,215 15,408 15,659 14,435 13,595
P/E ratio 11.5 x 9.39 x 21.1 x 22.3 x 40.5 x 35.9 x
Yield 3.6% 5.32% 2.38% 2.25% 1.25% 1.4%
Capitalization / Revenue 0.58 x 0.63 x 0.61 x 0.57 x 0.48 x 0.45 x
EV / Revenue 0.87 x 0.85 x 0.83 x 0.79 x 0.72 x 0.63 x
EV / EBITDA 12 x 12 x 10.2 x 9.68 x 11.6 x 11.5 x
EV / FCF 1.56 x 29 x 14.8 x 81.4 x -206 x 15.8 x
FCF Yield 64% 3.44% 6.76% 1.23% -0.49% 6.34%
Price to Book 1.82 x 1.83 x 1.65 x 1.6 x 1.33 x 1.32 x
Nbr of stocks (in thousands) 5,06,063 5,06,063 5,06,063 5,06,063 5,06,063 5,06,063
Reference price 2 22.25 25.05 22.30 22.25 19.05 19.05
Announcement Date 28/03/19 31/03/20 31/03/21 24/03/22 16/03/23 13/03/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 19,437 20,228 18,651 19,818 19,973 21,476
EBITDA 1 1,403 1,438 1,513 1,618 1,243 1,184
EBIT 1 513.1 544.6 595.1 707.4 334.2 321
Operating Margin 2.64% 2.69% 3.19% 3.57% 1.67% 1.49%
Earnings before Tax (EBT) 1 992.7 1,730 542.9 718.3 299.8 381.8
Net income 1 982.6 1,350 535.2 507 240.3 268.3
Net margin 5.06% 6.67% 2.87% 2.56% 1.2% 1.25%
EPS 2 1.940 2.668 1.058 1.000 0.4700 0.5300
Free Cash Flow 1 10,790 592.8 1,042 192.5 -70.22 861.9
FCF margin 55.51% 2.93% 5.58% 0.97% -0.35% 4.01%
FCF Conversion (EBITDA) 768.96% 41.22% 68.81% 11.89% - 72.77%
FCF Conversion (Net income) 1,098.16% 43.91% 194.6% 37.96% - 321.23%
Dividend per Share 2 0.8000 1.334 0.5300 0.5010 0.2380 0.2660
Announcement Date 28/03/19 31/03/20 31/03/21 24/03/22 16/03/23 13/03/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 5,598 4,538 4,123 4,399 4,795 3,954
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 3.989 x 3.156 x 2.724 x 2.718 x 3.858 x 3.339 x
Free Cash Flow 1 10,790 593 1,042 192 -70.2 862
ROE (net income / shareholders' equity) 12.4% 20.6% 7.77% 7.3% 3.38% 3.71%
ROA (Net income/ Total Assets) 1.19% 1.69% 2% 2.46% 1.17% 1.12%
Assets 1 82,882 79,999 26,716 20,638 20,460 23,862
Book Value Per Share 2 12.20 13.70 13.50 13.90 14.30 14.40
Cash Flow per Share 2 5.910 4.390 3.770 2.550 1.910 3.290
Capex 1 1,280 1,129 611 845 772 496
Capex / Sales 6.58% 5.58% 3.27% 4.26% 3.87% 2.31%
Announcement Date 28/03/19 31/03/20 31/03/21 24/03/22 16/03/23 13/03/24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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