How does 2348A's PE Ratio compare to its peers?

2348A is good value based on its Price-To-Earnings Ratio (9.9x) compared to the peer average (10.3x).

How does 2348A's PE Ratio compare vs other companies in the TW Real Estate Industry?

2348A is good value based on its Price-To-Earnings Ratio (9.9x) compared to the TW Real Estate industry average (15.4x).

What is 2348A'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.

2348A is expensive based on its Price-To-Earnings Ratio (9.9x) compared to the estimated Fair Price-To-Earnings Ratio (5.8x).

What is the Fair Price of 2348A when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

2348A (NT$36.8) is trading above our estimate of [[fair value]] (NT$3.75)

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

Insufficient data to show price forecast.

2348A Stock Overview

Engages in the real estate agency and brokerage businesses in Taiwan. More details

2348A fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	4/6
Financial Health	3/6
Dividends	3/6

Rewards

Price-To-Earnings ratio (9.9x) is below the TW market (20.9x)

Earnings grew by 191.3% over the past year

Risk Analysis

Debt is not well covered by operating cash flow

Earnings are forecast to decline by an average of 29.3% per year for the next 3 years

High level of non-cash earnings

Dividend of 2.81% is not well covered by free cash flows

My Notes

Capture your thoughts, links and company narrative

Hi-Yes International Co., Ltd. Competitors

Sinyi Realty

TWSE:9940

NT$21.1b

Cathay Real Estate DevelopmentLtd

TWSE:2501

NT$27.5b

Chong Hong Construction

TWSE:5534

NT$24.5b

Yungshin Construction & DevelopmentLtd

TPEX:5508

NT$30.3b

Price History & Performance

Summary of share price highs, lows and changes for Hi-Yes International
Historical stock prices
Current Share Price	NT$36.80
52 Week High	NT$37.00
52 Week Low	NT$32.35
Beta	0.35
1 Month Change	4.84%
3 Month Change	6.36%
1 Year Change	10.51%
3 Year Change	-3.29%
5 Year Change	n/a
Change since IPO	-4.17%

Recent updates

Shareholder Returns

	2348A	TW Real Estate	TW Market
7D	3.4%	-2.0%	2.5%
1Y	10.5%	21.0%	32.2%

Return vs Industry: 2348A underperformed the TW Real Estate industry which returned 21% over the past year.

Return vs Market: 2348A underperformed the TW Market which returned 32.2% over the past year.

Price Volatility

Is 2348A's price volatile compared to industry and market?
2348A volatility
2348A Average Weekly Movement	1.0%
Real Estate Industry Average Movement	4.1%
Market Average Movement	4.4%
10% most volatile stocks in TW Market	7.8%
10% least volatile stocks in TW Market	2.1%

Stable Share Price: 2348A has not had significant price volatility in the past 3 months compared to the TW market.

Volatility Over Time: 2348A's weekly volatility (1%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
n/a	n/a	n/a	www.hiyes-group.com.tw

Hi-Yes International Co., Ltd. engages in the real estate agency and brokerage businesses in Taiwan. Its real estate agency and brokerage business include pre-sale housing, new housing, remaining housing, general office, and land and parking space, as well as product planning and advice, integrated marketing, and transaction intermediary transfer services. The company also offers engineering construction, architectural design and interior decoration, building materials, water and electricity configuration, financing, appraisal and bookkeeping services, etc. The company was formerly known as Veutron Corp and changed its name to Hi-Yes International Co., Ltd.

Hi-Yes International Co., Ltd. Fundamentals Summary

How do Hi-Yes International's earnings and revenue compare to its market cap?
2348A fundamental statistics
Market cap	NT$27.44b
Earnings (TTM)	NT$2.89b
Revenue (TTM)	NT$9.99b

9.9x

P/E Ratio

2.9x

P/S Ratio

Is 2348A overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
2348A income statement (TTM)
Revenue	NT$9.99b
Cost of Revenue	NT$5.72b
Gross Profit	NT$4.27b
Other Expenses	NT$1.38b
Earnings	NT$2.89b

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	19.18
Gross Margin	42.75%
Net Profit Margin	28.94%
Debt/Equity Ratio	234.0%

How did 2348A perform over the long term?

See historical performance and comparison

Dividends

2.8%

Current Dividend Yield

28%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/08 08:52
End of Day Share Price	2025/01/08 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Hi-Yes International Co., Ltd. is covered by 2 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Tommy Lai	KGI Securities Co. Ltd.
Mandy Hsieh	SinoPac Securities Investment Service