Stock 2850 SHINKONG INSURANCE CO., LTD.
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Financials Shinkong Insurance Co., Ltd.

Equities

2850

TW0002850005

Property & Casualty Insurance

End-of-day quote Taiwan S.E.
Other stock markets
 18:00:00 2024-06-04 EDT 		5-day change 1st Jan Change
95.8 TWD +0.10% Intraday chart for Shinkong Insurance Co., Ltd. +2.79% +40.68%
05-27 Shinkong Insurance Co., Ltd. Announces Cash Dividend, Payable on July 8, 2024 CI
05-14 Shinkong Insurance Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 11,027 12,196 12,212 15,008 15,435 21,517
Enterprise Value (EV) 1 403.6 2,671 1,296 3,305 4,703 10,194
P/E ratio 6.23 x 7.81 x 7.49 x 6.66 x 7.7 x 7.38 x
Yield 7.59% 4.66% 5.05% 6.74% 5.2% -
Capitalization / Revenue 0.75 x 0.78 x 0.73 x 0.81 x 0.84 x 1.08 x
EV / Revenue 0.03 x 0.17 x 0.08 x 0.18 x 0.26 x 0.51 x
EV / EBITDA 0.2 x 1.29 x 0.58 x 1.15 x 2.39 x 2.86 x
EV / FCF 0.79 x -3.47 x 4.83 x 5.09 x 1.34 x 7.37 x
FCF Yield 127% -28.8% 20.7% 19.6% 74.9% 13.6%
Price to Book 1.04 x 1.04 x 0.92 x 0.98 x 1.03 x 1.23 x
Nbr of stocks (in thousands) 315,963 315,963 315,963 315,963 315,963 315,963
Reference price 2 34.90 38.60 38.65 47.50 48.85 68.10
Announcement Date 19-03-28 20-03-25 21-03-26 22-03-31 23-03-15 24-03-14
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 14,662 15,666 16,713 18,576 18,338 19,883
EBITDA 1 1,991 2,071 2,218 2,874 1,972 3,561
EBIT 1 1,940 2,018 2,158 2,810 1,906 3,495
Operating Margin 13.23% 12.88% 12.91% 15.13% 10.39% 17.58%
Earnings before Tax (EBT) 1 2,016 1,891 1,930 2,655 2,474 3,523
Net income 1 1,770 1,562 1,630 2,254 2,004 2,914
Net margin 12.07% 9.97% 9.75% 12.13% 10.93% 14.66%
EPS 2 5.603 4.944 5.158 7.134 6.341 9.223
Free Cash Flow 1 511.8 -770 268.6 649.1 3,521 1,384
FCF margin 3.49% -4.91% 1.61% 3.49% 19.2% 6.96%
FCF Conversion (EBITDA) 25.71% - 12.11% 22.58% 178.54% 38.86%
FCF Conversion (Net income) 28.91% - 16.48% 28.8% 175.73% 47.49%
Dividend per Share 2 2.650 1.800 1.950 3.200 2.540 -
Announcement Date 19-03-28 20-03-25 21-03-26 22-03-31 23-03-15 24-03-14
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 10,624 9,525 10,916 11,703 10,731 11,323
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 512 -770 269 649 3,521 1,384
ROE (net income / shareholders' equity) 17.4% 14% 13.1% 15.8% 13.2% 17.9%
ROA (Net income/ Total Assets) 3.73% 3.68% 3.6% 4.21% 2.71% 4.8%
Assets 1 47,504 42,469 45,331 53,491 73,919 60,725
Book Value Per Share 2 33.50 36.90 41.90 48.30 47.60 55.40
Cash Flow per Share 2 33.60 30.30 34.70 37.20 34.10 35.90
Capex 1 48.3 139 40.8 54.7 72.2 74.1
Capex / Sales 0.33% 0.89% 0.24% 0.29% 0.39% 0.37%
Announcement Date 19-03-28 20-03-25 21-03-26 22-03-31 23-03-15 24-03-14
1TWD in Million2TWD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

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