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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 10.1x - 11.1x | 10.6x |
Selected Fwd P/E Multiple | 7.9x - 8.7x | 8.3x |
Fair Value | NT$ 19.09 - NT$ 21.10 | NT$ 20.09 |
Upside | 2.1% - 12.8% | 7.5% |
Benchmarks | - | Full Ticker |
U-Ming Marine Transport Corporation | 260,600.0% | TWSE:2606 |
Chinese Maritime Transport Ltd. | 261,200.0% | TWSE:2612 |
Evergreen Marine Corporation (Taiwan) Ltd. | 260,300.0% | TWSE:2603 |
Sincere Navigation Corporation | 260,500.0% | TWSE:2605 |
Yang Ming Marine Transport Corporation | 260,900.0% | TWSE:2609 |
Franbo Lines Corp. | 264,100.0% | TPEX:2641 |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
2606 | 2612 | 2603 | 2605 | 2609 | 2641 | |||
TWSE:2606 | TWSE:2612 | TWSE:2603 | TWSE:2605 | TWSE:2609 | TPEX:2641 | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 23.6% | 25.6% | 315.6% | 74.1% | NM- | 48.6% | ||
3Y CAGR | -1.5% | -0.9% | -16.4% | 21.0% | -27.0% | 15.9% | ||
Latest Twelve Months | 70.9% | 208.5% | 294.6% | 195.4% | 1244.3% | 37.8% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 24.3% | 15.7% | 31.9% | 15.4% | 26.1% | 38.3% | ||
Prior Fiscal Year | 19.1% | 8.2% | 12.8% | 9.2% | 3.4% | 31.7% | ||
Latest Fiscal Year | 28.6% | 21.8% | 30.1% | 24.9% | 28.8% | 35.4% | ||
Latest Twelve Months | 28.6% | 21.8% | 30.1% | 24.9% | 28.8% | 35.4% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 7.1x | 6.7x | 1.9x | 5.5x | 1.1x | 10.0x | ||
Price / LTM Sales | 2.7x | 1.7x | 1.0x | 3.1x | 1.1x | 3.7x | ||
LTM P/E Ratio | 9.5x | 7.8x | 3.2x | 12.3x | 3.9x | 10.5x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | 3.2x | 7.8x | 12.3x | |||||
Historical LTM P/E Ratio | 4.6x | 10.5x | 21.0x | |||||
Selected P/E Multiple | 10.1x | 10.6x | 11.1x | |||||
(x) LTM Net Income | 585 | 585 | 585 | |||||
(=) Equity Value | 5,892 | 6,202 | 6,512 | |||||
(/) Shares Outstanding | 312.5 | 312.5 | 312.5 | |||||
Implied Value Range | 18.85 | 19.84 | 20.84 | |||||
FX Rate: TWD/TWD | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 18.85 | 19.84 | 20.84 | 18.70 | ||||
Upside / (Downside) | 0.8% | 6.1% | 11.4% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | 2606 | 2612 | 2603 | 2605 | 2609 | 2641 | |
Value of Common Equity | 43,098 | 7,781 | 436,256 | 13,024 | 244,098 | 5,845 | |
(/) Shares Outstanding | 845.1 | 197.5 | 2,165.0 | 585.4 | 3,492.1 | 312.5 | |
Implied Stock Price | 51.00 | 39.40 | 201.50 | 22.25 | 69.90 | 18.70 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 51.00 | 39.40 | 201.50 | 22.25 | 69.90 | 18.70 | |
Trading Currency | TWD | TWD | TWD | TWD | TWD | TWD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |