Financials Fubon No.2 Real Estate Investment Trust

Equities

01004T

TW00001004T2

Commercial REITs

End-of-day quote Taiwan S.E. 18:00:00 2024-05-16 EDT 5-day change 1st Jan Change
12.79 TWD 0.00% Intraday chart for Fubon No.2 Real Estate Investment Trust -0.08% -3.11%

Valuation

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 8,302 9,201 10,084 12,494 11,486 11,099
Enterprise Value (EV) 1 7,158 8,031 9,271 11,666 10,593 10,108
P/E ratio 29.9 x 34.4 x 36.3 x 42.8 x 39.5 x 38.8 x
Yield 3.35% 2.91% 2.75% 2.34% 2.53% 2.58%
Capitalization / Revenue 18.2 x 20.5 x 22 x 26 x 24 x 23.1 x
EV / Revenue 15.7 x 17.9 x 20.2 x 24.3 x 22.1 x 21.1 x
EV / EBITDA 21.3 x 24.4 x 27.3 x 32.5 x 29.6 x 28.4 x
EV / FCF - - - - - -
FCF Yield - - - - - -
Price to Book 0.76 x 0.83 x 0.91 x 1.11 x 1.01 x 0.96 x
Nbr of stocks (in thousands) 730,200 730,200 730,200 730,200 730,200 730,200
Reference price 2 11.37 12.60 13.81 17.11 15.73 15.20
Announcement Date 18-02-21 19-02-20 20-03-11 21-03-18 22-03-15 23-03-24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net sales 1 456.4 448.4 458.6 480.6 478.8 479.5
EBITDA 1 335.3 329.5 339.3 359.2 357.9 356
EBIT 1 283.1 275.4 283.2 301 297.5 294.4
Operating Margin 62.04% 61.42% 61.74% 62.63% 62.13% 61.4%
Earnings before Tax (EBT) 1 278 267.3 277.6 292 291 285.9
Net income 1 278 267.3 277.6 292 291 285.9
Net margin 60.92% 59.61% 60.52% 60.75% 60.77% 59.62%
EPS 2 0.3807 0.3661 0.3801 0.3999 0.3985 0.3915
Free Cash Flow - - - - - -
FCF margin - - - - - -
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 0.3807 0.3661 0.3801 0.3999 0.3985 0.3915
Announcement Date 18-02-21 19-02-20 20-03-11 21-03-18 22-03-15 23-03-24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Net Debt 1 - - - - - -
Net Cash position 1 1,144 1,170 813 827 893 991
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow - - - - - -
ROE (net income / shareholders' equity) 2.56% 2.43% 2.5% 2.61% 2.58% 2.5%
ROA (Net income/ Total Assets) 1.56% 1.5% 1.53% 1.61% 1.58% 1.53%
Assets 1 17,799 17,769 18,153 18,108 18,453 18,625
Book Value Per Share 2 14.90 15.20 15.20 15.40 15.50 15.80
Cash Flow per Share 2 1.570 1.600 1.110 1.130 1.220 1.360
Capex - - - - - -
Capex / Sales - - - - - -
Announcement Date 18-02-21 19-02-20 20-03-11 21-03-18 22-03-15 23-03-24
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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