Yuanta Financial Holding Co Ltd

Yuanta Financial Holding maintains a capital structure characterized by significant leverage, with total liabilities of TWD 3,951.7 billion against total assets of TWD 4,292.1 billion. The debt-to-equity ratio stands at 1.97, reflecting long-term debt of TWD 672.0 billion relative to total equity of TWD 340.4 billion. Liquidity risk is assessed as medium, with a key flag noting that net cash is negative after subtracting total debt. Operating cash flow is negative at TWD -50.2 billion, while free cash flow remains positive at TWD 18.9 billion, supported by low capital expenditure of TWD -4.1 billion.

Profitability metrics indicate a return on equity of 12.72% and a return on assets of 1.01%. The company generated net income of TWD 36.5 billion. Valuation multiples include a price-to-earnings ratio of 21.03 and a price-to-book ratio of 2.67, with the market price at TWD 68.3. The enterprise value to revenue ratio is 38.04, suggesting a premium valuation relative to top-line sales.

Segment and geographic revenue mix data is not present in the available input, preventing detailed analysis of revenue concentration or regional exposure. The company’s activity is broadly defined as multiline insurance and brokers, but specific segment contributions are not disclosed in the provided data.

Historical period data for revenue and net income trends is absent, limiting the ability to assess growth trajectory or year-over-year performance changes. The analysis relies solely on the latest normalized financial snapshot for trend reasoning.

Risk assessment highlights medium liquidity risk and low dilution risk. The primary financial flag is the negative net cash position after debt subtraction, which may constrain financial flexibility. Dilution risk is low, with basic and diluted shares outstanding identical at 13.33 billion shares.

Recent IR observations indicate a mean analyst price target of TWD 49.33, with a median target of TWD 48.00 and a high target of TWD 52.00. The mean recommendation is 2.50, comprising one strong buy, one buy, and four hold ratings. This suggests a neutral to slightly positive sentiment among analysts, with the current market price of TWD 68.3 trading significantly above the mean price target.

Revenue grew 19.4% year-over-year to TWD 39.6 billion in FY2026, showing strong top-line expansion momentum.

Net income reached TWD 35.8 billion in FY2025, marking a significant recovery from the FY2023 low of TWD 21.5 billion.

Free cash flow remained positive at TWD 18.9 billion in FY2026, providing liquidity despite a year-over-year decline.

Debt-to-equity ratio of 1.97 is in the bottom quartile versus the cohort median of 0.17, signaling high leverage risk.

Cash conversion of -1.16 ranks in the bottom quartile against the cohort median of 1.51, indicating poor cash generation.

Long-term debt increased to TWD 672 billion in FY2026, reflecting a consistent upward trend in financial obligations.

Revenue TWD 11.26B, +23,4% YoY; Net income +102,1% YoY.

• ▍Revenue TWD 11.26B, +23,4% YoY
• ▍Net income +102,1% YoY
• ▍Free cash flow +98,8% YoY
• ▍Net margin 128.0%

Revenue TWD 10.67B, +19,6% YoY; Net income +12,5% YoY.

• ▍Revenue TWD 10.67B, +19,6% YoY
• ▍Net income +12,5% YoY
• ▍Free cash flow +22,7% YoY
• ▍Net margin 92.1%

Revenue TWD 10.28B, +22,3% YoY; Net income +10,9% YoY.

• ▍Revenue TWD 10.28B, +22,3% YoY
• ▍Net income +10,9% YoY
• ▍Free cash flow +10,8% YoY
• ▍Net margin 101.8%

Revenue TWD 9.40B, +14,8% YoY; Net income +1,9% YoY.

• ▍Revenue TWD 9.40B, +14,8% YoY
• ▍Net income +1,9% YoY
• ▍Free cash flow +22,9% YoY
• ▍Net margin 91.4%

Revenue TWD 9.12B; Net margin 78.2%.

• ▍Revenue TWD 9.12B
• ▍Net margin 78.2%

Revenue TWD 8.92B; Net margin 97.9%.

• ▍Revenue TWD 8.92B
• ▍Net margin 97.9%

Revenue TWD 8.40B; Net margin 112.2%.

• ▍Revenue TWD 8.40B
• ▍Net margin 112.2%

Revenue TWD 8.19B; Net margin 102.9%.

• ▍Revenue TWD 8.19B
• ▍Net margin 102.9%

Revenue TWD 39.55B, +19,4% YoY; Net income +1,9% YoY.

• ▍Revenue TWD 39.55B, +19,4% YoY
• ▍Net income +1,9% YoY
• ▍Free cash flow −14,8% YoY
• ▍Net margin 92.3%

Revenue TWD 33.12B, +9,2% YoY; Net income +34,9% YoY.

• ▍Revenue TWD 33.12B, +9,2% YoY
• ▍Net income +34,9% YoY
• ▍Free cash flow +20,3% YoY
• ▍Net margin 108.2%

Revenue TWD 30.33B, −1,2% YoY; Net income +23,8% YoY.

• ▍Revenue TWD 30.33B, −1,2% YoY
• ▍Net income +23,8% YoY
• ▍Free cash flow +277,4% YoY
• ▍Net margin 87.6%

Revenue TWD 30.70B, +2,4% YoY; Net income −38,5% YoY.

• ▍Revenue TWD 30.70B, +2,4% YoY
• ▍Net income −38,5% YoY
• ▍Free cash flow −79,4% YoY
• ▍Net margin 69.9%