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2545

Huang Hsiang Construction TWSE:2545 Stock Report

Last Price

NT$40.10

Market Cap

NT$13.1b

7D

-1.1%

1Y

8.8%

Updated

04 Oct, 2022

Data

Company Financials
2545 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance3/6
Financial Health3/6
Dividends4/6

2545 Stock Overview

Huang Hsiang Construction Corporation, together with its subsidiaries, builds, sells, and rents public housing and commercial building in Taiwan.

Huang Hsiang Construction Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Huang Hsiang Construction
Historical stock prices
Current Share PriceNT$40.10
52 Week HighNT$61.50
52 Week LowNT$36.30
Beta0.58
1 Month Change-10.19%
3 Month Change-1.47%
1 Year Change8.82%
3 Year Change31.05%
5 Year Change35.25%
Change since IPO553.72%

Recent News & Updates

Shareholder Returns

2545TW Real EstateTW Market
7D-1.1%-1.0%-1.7%
1Y8.8%-6.0%-16.9%

Return vs Industry: 2545 exceeded the TW Real Estate industry which returned -6.3% over the past year.

Return vs Market: 2545 exceeded the TW Market which returned -18.3% over the past year.

Price Volatility

Is 2545's price volatile compared to industry and market?
2545 volatility
2545 Average Weekly Movement3.8%
Real Estate Industry Average Movement2.9%
Market Average Movement5.1%
10% most volatile stocks in TW Market8.3%
10% least volatile stocks in TW Market2.4%

Stable Share Price: 2545 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 2545's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1991n/aYu-Hsiang Liaohttps://www.hhe.com.tw

Huang Hsiang Construction Corporation, together with its subsidiaries, builds, sells, and rents public housing and commercial building in Taiwan. The company was formerly known as Huang Ming Construction Corporation, LCC and changed its name to Huang Hsiang Construction Corporation in April 1996. Huang Hsiang Construction Corporation was founded in 1991 and is based in Taipei, Taiwan.

Huang Hsiang Construction Fundamentals Summary

How do Huang Hsiang Construction's earnings and revenue compare to its market cap?
2545 fundamental statistics
Market CapNT$13.14b
Earnings (TTM)NT$2.77b
Revenue (TTM)NT$8.70b

4.7x

P/E Ratio

1.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2545 income statement (TTM)
RevenueNT$8.70b
Cost of RevenueNT$4.49b
Gross ProfitNT$4.20b
Other ExpensesNT$1.43b
EarningsNT$2.77b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)8.46
Gross Margin48.34%
Net Profit Margin31.86%
Debt/Equity Ratio285.2%

How did 2545 perform over the long term?

See historical performance and comparison

Dividends

15.7%

Current Dividend Yield

75%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 2545 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 2545?

Other financial metrics that can be useful for relative valuation.

2545 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/Revenue5.4x
Enterprise Value/EBITDA14.1x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does 2545's PE Ratio compare to its peers?

2545 PE Ratio vs Peers
The above table shows the PE ratio for 2545 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average14.5x
5508 Yungshin Construction & DevelopmentLtd
8.3xn/aNT$14.3b
5534 Chong Hong Construction
7.7xn/aNT$21.0b
2923 Sino Horizon Holdings
37.9xn/aNT$35.2b
2537 WE & WIN Development
4.1xn/aNT$2.2b
2545 Huang Hsiang Construction
4.7xn/aNT$13.1b

Price-To-Earnings vs Peers: 2545 is good value based on its Price-To-Earnings Ratio (4.7x) compared to the peer average (14.5x).


Price to Earnings Ratio vs Industry

How does 2545's PE Ratio compare vs other companies in the TW Real Estate Industry?

Price-To-Earnings vs Industry: 2545 is good value based on its Price-To-Earnings Ratio (4.7x) compared to the TW Real Estate industry average (12.2x)


Price to Earnings Ratio vs Fair Ratio

What is 2545'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.

2545 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 2545's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of 2545 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2545 (NT$40.1) is trading below our estimate of fair value (NT$94.67)

Significantly Below Fair Value: 2545 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 Huang Hsiang Construction forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


11.9%

Forecasted Real Estate industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Huang Hsiang Construction has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Examine whether Huang Hsiang Construction is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Huang Hsiang Construction 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


56.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 2545 has high quality earnings.

Growing Profit Margin: 2545's current net profit margins (31.9%) are lower than last year (34.2%).


Past Earnings Growth Analysis

Earnings Trend: 2545's earnings have grown significantly by 56.5% per year over the past 5 years.

Accelerating Growth: 2545's earnings growth over the past year (8.7%) is below its 5-year average (56.5% per year).

Earnings vs Industry: 2545 earnings growth over the past year (8.7%) exceeded the Real Estate industry 6.2%.


Return on Equity

High ROE: Whilst 2545's Return on Equity (23.6%) is high, this metric is skewed due to their high level of debt.


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Financial Health

How is Huang Hsiang Construction's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 2545's short term assets (NT$33.4B) exceed its short term liabilities (NT$24.8B).

Long Term Liabilities: 2545's short term assets (NT$33.4B) exceed its long term liabilities (NT$13.4B).


Debt to Equity History and Analysis

Debt Level: 2545's net debt to equity ratio (280%) is considered high.

Reducing Debt: 2545's debt to equity ratio has increased from 241.5% to 285.2% over the past 5 years.

Debt Coverage: 2545's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: 2545's interest payments on its debt are well covered by EBIT (7.5x coverage).


Balance Sheet


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Dividend

What is Huang Hsiang Construction current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


15.71%

Current Dividend Yield

Dividend Yield vs Market

Huang Hsiang Construction Dividend Yield vs Market
How does Huang Hsiang Construction dividend yield compare to the market?
SegmentDividend Yield
Company (Huang Hsiang Construction)15.7%
Market Bottom 25% (TW)2.5%
Market Top 25% (TW)6.9%
Industry Average (Real Estate)6.7%
Analyst forecast in 3 Years (Huang Hsiang Construction)n/a

Notable Dividend: 2545's dividend (15.71%) is higher than the bottom 25% of dividend payers in the TW market (2.59%).

High Dividend: 2545's dividend (15.71%) is in the top 25% of dividend payers in the TW market (7.04%)


Stability and Growth of Payments

Stable Dividend: 2545's dividend payments have been volatile in the past 10 years.

Growing Dividend: 2545's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (74.5%), 2545's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: 2545 is paying a dividend but the company has no free cash flows.


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Management

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


CEO

Yu-Hsiang Liao

no data

Tenure

Mr. Yu-Hsiang Liao is General Manager of Huang Hsiang Construction Corporation.


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

What is the ownership structure of 2545?
Owner TypeNumber of SharesOwnership Percentage
Institutions12,150,5063.7%
Private Companies134,609,34841.1%
General Public180,994,94655.2%

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


Top Shareholders

Top 8 shareholders own 44.78% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
41.07%
Huang Ji Investment Co., Ltd.
134,609,348NT$5.4b0%no data
2.03%
The Vanguard Group, Inc.
6,641,051NT$266.3m0.5%no data
0.68%
BNY Mellon Asset Management
2,233,625NT$89.6m1.7%no data
0.52%
Dimensional Fund Advisors LP
1,720,604NT$69.0m-12.87%no data
0.4%
Norges Bank Investment Management
1,299,583NT$52.1m0%no data
0.044%
State Street Global Advisors, Inc.
145,000NT$5.8m0.69%no data
0.02%
DBX Advisors LLC
64,643NT$2.6m0%no data
0.014%
American Century Investment Management Inc
46,000NT$1.8m0%no data

Company Information

Huang Hsiang Construction Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Huang Hsiang Construction Corporation
  • Ticker: 2545
  • Exchange: TWSE
  • Founded: 1991
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Implied Market Cap: NT$13.143b
  • Shares outstanding: 327.75m
  • Website: https://www.hhe.com.tw

Location

  • Huang Hsiang Construction Corporation
  • No. 38, Bo’ai Road
  • 8th Floor
  • Taipei
  • 100
  • Taiwan


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2545TWSE (Taiwan Stock Exchange)YesCommon StockTWTWDOct 1999

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/04 00:00
End of Day Share Price2022/10/04 00:00
Earnings2022/06/30
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.