China Steel (TWSE:2002) Could Be Struggling To Allocate Capital
Apr 13
Taiwanese (TAIEX) Metals and Mining Industry Analysis
UpdatedApr 19, 2024
DataAggregated Company Financials
Companies51
- 7D0.8%
- 3M6.3%
- 1Y-0.8%
- YTD-0.7%
Last week, the Metals and Mining industry hasn't moved much but Evergreen Steel is up 7.8% in that time. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 51% per annum.
Industry Valuation and Performance
Has the Taiwanese Metals and Mining Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 19 Apr 2024 | NT$1.0t | NT$998.8b | NT$21.6b | 16.6x | 46.8x | 1x |
| Sun, 17 Mar 2024 | NT$966.2b | NT$1.0t | NT$21.8b | 16.2x | 44.4x | 1x |
| Tue, 13 Feb 2024 | NT$962.1b | NT$1.0t | NT$12.7b | 15.2x | 75.7x | 1x |
| Thu, 11 Jan 2024 | NT$977.6b | NT$1.0t | NT$12.8b | 15.4x | 76.2x | 1x |
| Sat, 09 Dec 2023 | NT$964.2b | NT$1.0t | NT$12.8b | 15.5x | 75.1x | 1x |
| Mon, 06 Nov 2023 | NT$898.4b | NT$1.0t | NT$14.7b | 15.6x | 61.3x | 0.9x |
| Wed, 04 Oct 2023 | NT$909.0b | NT$1.0t | NT$13.1b | 15.9x | 69.4x | 0.9x |
| Fri, 01 Sep 2023 | NT$920.7b | NT$1.0t | NT$13.1b | 16.2x | 70.3x | 0.9x |
| Sun, 30 Jul 2023 | NT$963.2b | NT$1.1t | NT$30.6b | 19.2x | 31.5x | 0.9x |
| Tue, 27 Jun 2023 | NT$983.3b | NT$1.1t | NT$31.5b | 17.3x | 31.3x | 0.9x |
| Thu, 25 May 2023 | NT$978.3b | NT$1.1t | NT$44.3b | 16.7x | 22.1x | 0.9x |
| Sat, 22 Apr 2023 | NT$980.6b | NT$1.1t | NT$56.2b | 16.2x | 17.4x | 0.9x |
| Mon, 20 Mar 2023 | NT$1.0t | NT$1.2t | NT$58.0b | 13.1x | 17.4x | 0.9x |
| Wed, 15 Feb 2023 | NT$994.2b | NT$1.2t | NT$88.0b | 11x | 11.3x | 0.8x |
| Fri, 13 Jan 2023 | NT$967.1b | NT$1.2t | NT$88.0b | 10.6x | 11x | 0.8x |
| Sun, 11 Dec 2022 | NT$915.6b | NT$1.2t | NT$88.0b | 10.4x | 10.4x | 0.8x |
| Tue, 08 Nov 2022 | NT$851.6b | NT$1.2t | NT$95.8b | 7.7x | 8.9x | 0.7x |
| Thu, 06 Oct 2022 | NT$868.7b | NT$1.3t | NT$118.2b | 7.9x | 7.3x | 0.7x |
| Sat, 03 Sep 2022 | NT$906.1b | NT$1.2t | NT$118.7b | 8.8x | 7.6x | 0.7x |
| Mon, 01 Aug 2022 | NT$885.8b | NT$1.2t | NT$125.5b | 8x | 7.1x | 0.7x |
| Wed, 29 Jun 2022 | NT$929.8b | NT$1.2t | NT$125.3b | 8.4x | 7.4x | 0.8x |
| Fri, 27 May 2022 | NT$1.1t | NT$1.2t | NT$125.4b | 9.3x | 8.5x | 0.9x |
| Sun, 24 Apr 2022 | NT$1.2t | NT$1.2t | NT$121.4b | 11x | 10x | 1x |
| Tue, 22 Mar 2022 | NT$1.3t | NT$1.1t | NT$118.3b | 12.9x | 10.7x | 1.1x |
| Thu, 17 Feb 2022 | NT$1.1t | NT$1.1t | NT$99.0b | 13.4x | 11.6x | 1.1x |
| Sat, 15 Jan 2022 | NT$1.1t | NT$1.1t | NT$99.0b | 13.2x | 11.4x | 1.1x |
| Mon, 13 Dec 2021 | NT$1.1t | NT$1.1t | NT$99.0b | 12.9x | 11.4x | 1.1x |
| Wed, 10 Nov 2021 | NT$1.1t | NT$1.0t | NT$93.7b | 13.7x | 12x | 1.1x |
| Fri, 08 Oct 2021 | NT$1.1t | NT$947.3b | NT$69.1b | 15.4x | 16.1x | 1.2x |
| Sun, 05 Sep 2021 | NT$1.2t | NT$947.3b | NT$69.1b | 17.8x | 17.6x | 1.3x |
| Tue, 03 Aug 2021 | NT$1.3t | NT$947.3b | NT$69.1b | 19.6x | 18.5x | 1.4x |
| Fri, 07 May 2021 | NT$1.2t | NT$840.6b | NT$37.0b | 22.6x | 33x | 1.5x |
Price to Earnings Ratio
33x
Current Industry PE
- Investors are optimistic on the Taiwanese Metals and Mining industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 46.8x which is higher than its 3-year average PE of 27.4x.
- The industry is trading close to its 3-year average PS ratio of 0.97x.
Past Earnings Growth
- The earnings for companies in the Metals and Mining industry have declined 16% per year over the last three years.
- Meanwhile revenues for these companies have grown 5.9% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Taiwanese Materials industry?
| TW Market | -2.11% | |
| Materials | -0.62% | |
| Metals and Mining | 0.78% | |
| Precious Metals and Minerals | 35.71% | |
| Copper | 4.41% | |
| Steel | 0.65% | |
| Aluminum | 0.25% | |
| Gold | 0% | |
| Silver | 0% | |
| Diversified Metals and Mining | -1.50% | |
Industry PE
- Investors are most optimistic about the Steel industry which is trading above its 3-year average PE ratio of 27.4x.
- Analysts are expecting annual earnings growth of 51.3%, which is higher than its past year's earnings decline of 3.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Steel industry, expecting annual earnings growth of 51% over the next 5 years.
- This is better than its past earnings decline of 3.4% per year.
- In contrast, the Steel industry is expected to see its earnings grow by 51% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 2027 Ta Chen Stainless Pipe | NT$37.80 | 3.6% +NT$2.8b | 2.6% | PE15.2x | |
| 2211 Evergreen Steel | NT$140.00 | 3.7% +NT$2.1b | 140.1% | PE15.9x | |
| 2006 Tung Ho Steel Enterprise | NT$73.10 | 3.2% +NT$1.7b | 26.9% | PE11.4x | |
| 9958 Century Iron and Steel IndustrialLtd | NT$212.50 | 2.9% +NT$1.4b | 84.8% | PE48.4x | |
| 5009 Gloria Material Technology | NT$54.70 | 4.2% +NT$1.3b | 0.7% | PE13.8x |
