Financials Taiwan Navigation Co., Ltd.

Equities

2617

TW0002617008

Marine Freight & Logistics

End-of-day quote Taiwan S.E. 18:00:00 2024-06-17 EDT 5-day change 1st Jan Change
36.35 TWD -0.14% Intraday chart for Taiwan Navigation Co., Ltd. -7.27% +10.15%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 7,929 7,407 8,805 15,502 11,225 13,771
Enterprise Value (EV) 1 10,959 9,854 12,427 15,607 14,302 17,420
P/E ratio 8.3 x 12.3 x 17 x 11.8 x 5.58 x 8.29 x
Yield 6.84% 4.51% 4.27% 5.38% 8.18% 4.85%
Capitalization / Revenue 2.35 x 2.38 x 3.53 x 4.81 x 2.9 x 3.45 x
EV / Revenue 3.25 x 3.16 x 4.99 x 4.84 x 3.69 x 4.37 x
EV / EBITDA 7.41 x 15.2 x 24.3 x 13.4 x 7.46 x 8.28 x
EV / FCF 13 x 16.5 x -17.9 x -4.73 x -10.6 x -23.8 x
FCF Yield 7.72% 6.07% -5.6% -21.2% -9.47% -4.2%
Price to Book 0.76 x 0.72 x 0.82 x 0.99 x 0.71 x 0.86 x
Nbr of stocks (in thousands) 417,294 417,294 417,294 417,294 417,294 417,294
Reference price 2 19.00 17.75 21.10 37.15 26.90 33.00
Announcement Date 3/28/19 3/26/20 3/24/21 3/30/22 3/15/23 3/14/24
1TWD in Million2TWD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 3,367 3,114 2,491 3,226 3,873 3,990
EBITDA 1 1,478 650.4 511.1 1,161 1,918 2,103
EBIT 1 715.4 603.8 461.2 1,112 1,136 1,236
Operating Margin 21.25% 19.39% 18.51% 34.46% 29.34% 30.97%
Earnings before Tax (EBT) 1 988.6 765.9 712.3 1,418 2,142 2,000
Net income 1 957.6 601.1 518.1 1,320 2,015 1,663
Net margin 28.44% 19.3% 20.8% 40.92% 52.03% 41.68%
EPS 2 2.290 1.440 1.240 3.160 4.820 3.980
Free Cash Flow 1 846.2 598.4 -695.6 -3,301 -1,355 -731.9
FCF margin 25.13% 19.22% -27.92% -102.33% -34.98% -18.34%
FCF Conversion (EBITDA) 57.25% 92% - - - -
FCF Conversion (Net income) 88.37% 99.54% - - - -
Dividend per Share 2 1.300 0.8000 0.9000 2.000 2.200 1.600
Announcement Date 3/28/19 3/26/20 3/24/21 3/30/22 3/15/23 3/14/24
1TWD in Million2TWD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 3,031 2,447 3,622 105 3,077 3,650
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 2.05 x 3.763 x 7.087 x 0.09 x 1.604 x 1.736 x
Free Cash Flow 1 846 598 -696 -3,301 -1,355 -732
ROE (net income / shareholders' equity) 9.59% 5.82% 4.93% 9.99% 12.9% 10.5%
ROA (Net income/ Total Assets) 2.93% 2.5% 1.81% 3.47% 2.96% 3.14%
Assets 1 32,720 24,092 28,617 38,002 67,968 52,952
Book Value Per Share 2 25.00 24.50 25.80 37.50 37.70 38.30
Cash Flow per Share 2 1.150 0.9800 0.7800 0.7900 1.710 1.260
Capex 1 221 661 1,008 4,659 3,319 2,138
Capex / Sales 6.57% 21.21% 40.46% 144.4% 85.7% 53.58%
Announcement Date 3/28/19 3/26/20 3/24/21 3/30/22 3/15/23 3/14/24
1TWD in Million2TWD
Estimates
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