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2211

Evergreen Steel TWSE:2211 Stock Report

Last Price

NT$63.80

Market Cap

NT$26.6b

7D

0.8%

1Y

19.5%

Updated

13 Aug, 2022

Data

Company Financials +
2211 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance3/6
Financial Health5/6
Dividends1/6

2211 Stock Overview

Evergreen Steel Corp. engages in the production and sale of steel products.

Evergreen Steel Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Evergreen Steel
Historical stock prices
Current Share PriceNT$63.80
52 Week HighNT$65.60
52 Week LowNT$47.00
Beta0.59
1 Month Change4.59%
3 Month Change4.59%
1 Year Change19.48%
3 Year Changen/a
5 Year Changen/a
Change since IPO63.80%

Recent News & Updates

Shareholder Returns

2211TW Metals and MiningTW Market
7D0.8%2.5%1.7%
1Y19.5%-27.7%-9.8%

Return vs Industry: 2211 exceeded the TW Metals and Mining industry which returned -27.7% over the past year.

Return vs Market: 2211 exceeded the TW Market which returned -9.8% over the past year.

Price Volatility

Is 2211's price volatile compared to industry and market?
2211 volatility
2211 Average Weekly Movement2.3%
Metals and Mining Industry Average Movement5.7%
Market Average Movement5.0%
10% most volatile stocks in TW Market8.4%
10% least volatile stocks in TW Market2.4%

Stable Share Price: 2211 is less volatile than 75% of TW stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: 2211's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1982n/aPang-En Liuhttps://www.evergreennet.com

Evergreen Steel Corp. engages in the production and sale of steel products. The company was formerly known as Evergreen Development Corporation and changed its name to Evergreen Steel Crop. Evergreen Steel Corp. was founded in 1982 and is based in Taipei City, Taiwan.

Evergreen Steel Fundamentals Summary

How do Evergreen Steel's earnings and revenue compare to its market cap?
2211 fundamental statistics
Market CapNT$26.61b
Earnings (TTM)NT$1.36b
Revenue (TTM)NT$13.95b

19.5x

P/E Ratio

1.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2211 income statement (TTM)
RevenueNT$13.95b
Cost of RevenueNT$11.51b
Gross ProfitNT$2.44b
Other ExpensesNT$1.08b
EarningsNT$1.36b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)3.27
Gross Margin17.50%
Net Profit Margin9.78%
Debt/Equity Ratio12.1%

How did 2211 perform over the long term?

See historical performance and comparison

Dividends

4.7%

Current Dividend Yield

92%

Payout Ratio

Does 2211 pay a reliable dividends?

See 2211 dividend history and benchmarks
When do you need to buy 2211 by to receive an upcoming dividend?
Evergreen Steel dividend dates
Ex Dividend DateAug 29 2022
Dividend Pay DateSep 16 2022
Days until Ex dividend15 days
Days until Dividend pay date33 days

Does 2211 pay a reliable dividends?

See 2211 dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is 2211 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2211?

Other financial metrics that can be useful for relative valuation.

2211 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2x
Enterprise Value/EBITDA12.6x
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

How does 2211's PE Ratio compare to its peers?

2211 PE Ratio vs Peers
The above table shows the PE ratio for 2211 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average7x
2023 Yieh Phui Enterprise
7xn/aNT$31.4b
2015 Feng Hsin Steel
9.5x-29.4%NT$39.2b
2006 Tung Ho Steel Enterprise
7.1x-13.5%NT$39.4b
9957 Yieh United Steel
4.4xn/aNT$23.6b
2211 Evergreen Steel
19.5x24.7%NT$26.6b

Price-To-Earnings vs Peers: 2211 is expensive based on its Price-To-Earnings Ratio (19.5x) compared to the peer average (7x).


Price to Earnings Ratio vs Industry

How does 2211's PE Ratio compare vs other companies in the TW Metals and Mining Industry?

Price-To-Earnings vs Industry: 2211 is expensive based on its Price-To-Earnings Ratio (19.5x) compared to the TW Metals and Mining industry average (8.6x)


Price to Earnings Ratio vs Fair Ratio

What is 2211's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2211 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.5x
Fair PE Ratio20.3x

Price-To-Earnings vs Fair Ratio: 2211 is good value based on its Price-To-Earnings Ratio (19.5x) compared to the estimated Fair Price-To-Earnings Ratio (20.3x).


Share Price vs Fair Value

What is the Fair Price of 2211 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2211 (NT$63.8) is trading below our estimate of fair value (NT$426.06)

Significantly Below Fair Value: 2211 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Evergreen Steel forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


24.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2211's forecast earnings growth (24.7% per year) is above the savings rate (0.7%).

Earnings vs Market: 2211's earnings (24.7% per year) are forecast to grow faster than the TW market (5.9% per year).

High Growth Earnings: 2211's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 2211's revenue is expected to decline over the next 3 years (-8.7% per year).

High Growth Revenue: 2211's revenue is forecast to decline over the next 3 years (-8.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 2211's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has Evergreen Steel performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


5.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 2211 has high quality earnings.

Growing Profit Margin: 2211's current net profit margins (9.8%) are lower than last year (11%).


Past Earnings Growth Analysis

Earnings Trend: 2211's earnings have grown by 5.9% per year over the past 5 years.

Accelerating Growth: 2211's earnings growth over the past year (23.8%) exceeds its 5-year average (5.9% per year).

Earnings vs Industry: 2211 earnings growth over the past year (23.8%) underperformed the Metals and Mining industry 83%.


Return on Equity

High ROE: 2211's Return on Equity (6.2%) is considered low.


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Financial Health

How is Evergreen Steel's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 2211's short term assets (NT$12.5B) exceed its short term liabilities (NT$4.1B).

Long Term Liabilities: 2211's short term assets (NT$12.5B) exceed its long term liabilities (NT$3.5B).


Debt to Equity History and Analysis

Debt Level: 2211 has more cash than its total debt.

Reducing Debt: 2211's debt to equity ratio has increased from 0.7% to 12.1% over the past 5 years.

Debt Coverage: 2211's debt is well covered by operating cash flow (61.1%).

Interest Coverage: 2211 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Evergreen Steel current dividend yield, its reliability and sustainability?

Dividend Score

1/6

Dividend Score 1/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


4.70%

Current Dividend Yield

Upcoming Dividend Payment

TodayAug 13 2022Ex Dividend DateAug 29 2022Dividend Pay DateSep 16 202218 days from Ex DividendBuy in the next 15 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: 2211's dividend (4.7%) is higher than the bottom 25% of dividend payers in the TW market (2.49%).

High Dividend: 2211's dividend (4.7%) is low compared to the top 25% of dividend payers in the TW market (6.52%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 2211 has been paying a dividend for less than 10 years.

Growing Dividend: 2211's dividend payments have increased, but the company has only paid a dividend for 2 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (91.6%), 2211's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (119.8%), 2211's dividend payments are not well covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure


CEO

Pang-En Liu

2.75yrs

Tenure

Mr. Pang-En Liu is President at Evergreen Steel Corp. since November 29, 2019. Education: Mechanical Engineering Department of Chung Yuan Christian University. His other position Chairman of Mingyu Investm...


Leadership Team

Experienced Management: 2211's management team is considered experienced (3.6 years average tenure).


Board Members

Experienced Board: 2211's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Evergreen Steel Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: Evergreen Steel Corp.
  • Ticker: 2211
  • Exchange: TWSE
  • Founded: 1982
  • Industry: Steel
  • Sector: Materials
  • Implied Market Cap: NT$26.610b
  • Shares outstanding: 417.09m
  • Website: https://www.evergreennet.com

Number of Employees


Location

  • Evergreen Steel Corp.
  • No.100, Section 2
  • 8th Floor
  • Taipei
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/13 00:00
End of Day Share Price2022/08/12 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.