Ta Jiang Co Ltd

Ta Jiang Co Ltd maintains a relatively strong liquidity position, with a current ratio of 4.05, indicating the company can cover its short-term liabilities more than four times over. However, the company reported negative operating cash flow of -1,008,000 TWD, which raises concerns about its ability to sustain operations without external financing. Free cash flow, at 17,570,000 TWD, provides some buffer, but the negative net cash position after subtracting total debt suggests potential liquidity constraints.

Profitability metrics show mixed results. The company's return on equity (ROE) is 1.13%, and return on assets (ROA) is 0.78%, both below the industry median for real estate firms, which typically report ROE and ROA in the 3-5% and 1-2% ranges, respectively. The operating income is significantly negative at -8,874,000 TWD, indicating operational inefficiencies or high costs relative to revenue. Despite this, net income is positive at 16,424,000 TWD, likely due to non-operating income or gains.

The company's capital structure is relatively conservative, with a debt-to-equity ratio of 0.12, suggesting limited leverage and a strong equity base. Total liabilities amount to 644,519,000 TWD, while total equity is 1,450,937,000 TWD, indicating a solid balance sheet. Long-term debt is 171,638,000 TWD, which is a small portion of total liabilities and manageable given the company's asset base.

Geographically and segment-wise, the company's exposure is not disclosed in the available data, but the real estate industry is typically sensitive to regional economic conditions and regulatory changes. Given the lack of segment-specific data, it is unclear whether the company's operations are concentrated in a particular geographic region or business line.

Looking ahead, the company's revenue is expected to grow, with the most recent actual revenue reported at 674,060,000 TWD. However, the negative operating income and cash flow suggest that growth may not be translating into improved operational performance. The company's free cash flow remains a key positive, but it will need to address its operating losses to sustain long-term growth.

Recent filings and transcripts do not provide specific details on strategic initiatives or major events, but the company's financial performance indicates a need for operational improvements. The risk assessment highlights liquidity as a medium concern, with dilution risk rated as low. The company's conservative capital structure and strong equity position help mitigate dilution risk, but the negative operating cash flow could lead to future financing needs.

Net income surged 145.9% year-over-year to TWD 4.6 million, demonstrating significant bottom-line improvement despite revenue stagnation.

Free cash flow rebounded sharply by 784% year-over-year, indicating a strong recovery in cash generation capabilities.

Debt-to-equity ratio stands at 0.12, well below the 0.51 cohort median, suggesting a conservative capital structure.

Dilution risk is assessed as low, providing some protection for existing shareholders against equity erosion.

Operating income remains deeply negative at TWD -35.5 million, reflecting persistent core business losses.

The company faces high credit risk, signaling potential difficulties in meeting financial obligations or debt servicing.

Long-term debt increased to TWD 646.9 million in 2009, rising significantly from TWD 519.2 million the prior year.

Revenue TWD 397.0k, +15,4% YoY; Operating income −99,7% YoY.

• ▍Revenue TWD 397.0k, +15,4% YoY
• ▍Operating income −99,7% YoY
• ▍Net income +94,1% YoY
• ▍Free cash flow +102,7% YoY
• ▍Net margin -160.7%

Revenue TWD 333.0k, −3,2% YoY; Operating income +5,1% YoY.

• ▍Revenue TWD 333.0k, −3,2% YoY
• ▍Operating income +5,1% YoY
• ▍Net income +207,7% YoY
• ▍Free cash flow +224,2% YoY
• ▍Net margin 5253.2%

Revenue TWD 372.0k, +8,1% YoY; Operating income +15,5% YoY.

• ▍Revenue TWD 372.0k, +8,1% YoY
• ▍Operating income +15,5% YoY
• ▍Net income −178,7% YoY
• ▍Free cash flow −168,1% YoY
• ▍Net margin -3473.9%

Revenue TWD 373.0k, +8,8% YoY; Operating income +29,0% YoY.

• ▍Revenue TWD 373.0k, +8,8% YoY
• ▍Operating income +29,0% YoY
• ▍Net income −94,8% YoY
• ▍Free cash flow −88,4% YoY
• ▍Net margin 176.1%

Revenue TWD 1.5M, +7,3% YoY; Operating income −0,6% YoY.

• ▍Revenue TWD 1.5M, +7,3% YoY
• ▍Operating income −0,6% YoY
• ▍Net income +145,9% YoY
• ▍Free cash flow +784,0% YoY
• ▍Net margin 311.1%

Revenue TWD 1.4M, −99,3% YoY; Operating income −299,6% YoY.

• ▍Revenue TWD 1.4M, −99,3% YoY
• ▍Operating income −299,6% YoY
• ▍Net income −96,9% YoY
• ▍Free cash flow −101,8% YoY
• ▍Net margin 135.7%

Revenue TWD 203.9M, −18,0% YoY; Operating income +149,8% YoY.

• ▍Revenue TWD 203.9M, −18,0% YoY
• ▍Operating income +149,8% YoY
• ▍Net income +593,5% YoY
• ▍Free cash flow +604,3% YoY
• ▍Net margin 29.8%

Revenue TWD 248.6M, +461,2% YoY; Operating income −268,4% YoY.

• ▍Revenue TWD 248.6M, +461,2% YoY
• ▍Operating income −268,4% YoY
• ▍Net income −111,6% YoY
• ▍Free cash flow −112,2% YoY
• ▍Net margin -4.9%

Revenue TWD 44.3M; Operating income -TWD 9.6M.

• ▍Revenue TWD 44.3M
• ▍Operating income -TWD 9.6M
• ▍Net margin 239.4%