Chung-Hsin Electric & Machinery Mfg Corp

Chung-Hsin Electric & Machinery Mfg Corp maintains a capital structure supported by total equity of TWD 20.68 billion against total liabilities of TWD 27.02 billion. The debt-to-equity ratio stands at 0.43, indicating moderate leverage. Liquidity is assessed as medium risk, with a current ratio of 1.1. The company holds minimal cash and equivalents of TWD 40.87 million, resulting in a negative net cash position after subtracting total debt, which includes TWD 8.79 billion in long-term debt. Operating cash flow is robust at TWD 11.88 billion, significantly exceeding free cash flow of TWD 4.30 billion due to capital expenditures of TWD 733.09 million.

Profitability metrics show a return on equity of 19.67% and a return on assets of 8.52%. The company generated net income of TWD 3.99 billion on revenue of TWD 27.45 billion, yielding a net margin of approximately 14.5%. Operating income was TWD 4.93 billion, reflecting an operating margin of roughly 18%. The price-to-earnings ratio is 21.69, and the price-to-book ratio is 4.27. The EV/EBITDA multiple is 19.68, suggesting a premium valuation relative to earnings before interest, taxes, depreciation, and amortization.

Revenue concentration data by segment or geography is not provided in the available input. The company’s activity is broadly classified as Electric Utilities, with sector classification classification pointing to Electrical Equipment within the Industrials sector. Without specific segment breakdowns, the revenue mix is assumed to be diversified across its disclosed utility and machinery operations.

Growth trajectory analysis is limited by the absence of historical period data in the input. The latest normalized period shows revenue of TWD 27.45 billion and net income of TWD 3.99 billion. Without prior year or quarterly comparisons, year-over-year growth rates cannot be calculated. The current financial snapshot reflects a stable operational base with significant operating cash flow generation.

Risk assessment highlights medium liquidity risk and low dilution risk. A key flag is the negative net cash position, which may constrain financial flexibility. The current ratio of 1.1 indicates tight short-term liquidity coverage. Dilution risk is low, with basic and diluted shares outstanding both at 494.07 million, suggesting no significant convertible securities or options impacting share count.

Recent events include analyst estimates with a mean price target of TWD 182.80 and a median target of TWD 180.00. The mean recommendation is 1.50, indicating a strong buy consensus, with four strong-buy and four buy ratings. No hold or sell ratings are recorded. Competitor context lists Duke Energy, NextEra Energy, and Southern Company, though no comparative financial data is provided for these entities.

Revenue grew at an 11.1% CAGR from 2022 to 2026, demonstrating consistent top-line expansion.

Net income surged with a 19.5% CAGR over four years, significantly outpacing revenue growth.

Return on equity of 19.67% ranks as best-in-class among 343 electric utility peers.

Analysts assign a strong buy rating with a mean price target of 182.8 TWD.

The company faces a medium level of liquidity risk according to current risk assessments.

Free cash flow growth slowed to just 4.8% year-over-year in the latest period.

Long-term debt increased from 15.18 billion TWD in 2022 to 17.63 billion TWD in 2023.

Revenue TWD 6.49B, +0,7% YoY; Operating income −0,2% YoY.

• ▍Revenue TWD 6.49B, +0,7% YoY
• ▍Operating income −0,2% YoY
• ▍Net income +8,9% YoY
• ▍Free cash flow +8,5% YoY
• ▍Net margin 14.7%

Revenue TWD 7.11B, +2,2% YoY; Operating income +2,4% YoY.

• ▍Revenue TWD 7.11B, +2,2% YoY
• ▍Operating income +2,4% YoY
• ▍Net income +20,9% YoY
• ▍Free cash flow +0,5% YoY
• ▍Net margin 14.5%

Revenue TWD 6.79B, +6,3% YoY; Operating income +30,6% YoY.

• ▍Revenue TWD 6.79B, +6,3% YoY
• ▍Operating income +30,6% YoY
• ▍Net income +23,7% YoY
• ▍Free cash flow +26,4% YoY
• ▍Net margin 16.8%

Revenue TWD 7.10B, +15,8% YoY; Operating income +7,4% YoY.

• ▍Revenue TWD 7.10B, +15,8% YoY
• ▍Operating income +7,4% YoY
• ▍Net income +4,9% YoY
• ▍Free cash flow +16,3% YoY
• ▍Net margin 13.3%

Revenue TWD 6.45B; Operating income TWD 1.21B.

• ▍Revenue TWD 6.45B
• ▍Operating income TWD 1.21B
• ▍Net margin 13.6%

Revenue TWD 6.95B; Operating income TWD 1.21B.

• ▍Revenue TWD 6.95B
• ▍Operating income TWD 1.21B
• ▍Net margin 12.3%

Revenue TWD 6.39B; Operating income TWD 979.5M.

• ▍Revenue TWD 6.39B
• ▍Operating income TWD 979.5M
• ▍Net margin 14.4%

Revenue TWD 6.13B; Operating income TWD 1.12B.

• ▍Revenue TWD 6.13B
• ▍Operating income TWD 1.12B
• ▍Net margin 14.6%

Revenue TWD 27.45B, +7,2% YoY; Operating income +8,7% YoY.

• ▍Revenue TWD 27.45B, +7,2% YoY
• ▍Operating income +8,7% YoY
• ▍Net income +10,1% YoY
• ▍Free cash flow +4,8% YoY
• ▍Net margin 14.5%

Revenue TWD 25.61B, +15,7% YoY; Operating income +2,7% YoY.

• ▍Revenue TWD 25.61B, +15,7% YoY
• ▍Operating income +2,7% YoY
• ▍Net income +128,5% YoY
• ▍Free cash flow +462,8% YoY
• ▍Net margin 14.1%

Revenue TWD 22.14B, +19,4% YoY; Operating income +55,9% YoY.

• ▍Revenue TWD 22.14B, +19,4% YoY
• ▍Operating income +55,9% YoY
• ▍Net income −34,9% YoY
• ▍Free cash flow −1,1% YoY
• ▍Net margin 7.2%

Revenue TWD 18.55B, +2,9% YoY; Operating income +12,0% YoY.

• ▍Revenue TWD 18.55B, +2,9% YoY
• ▍Operating income +12,0% YoY
• ▍Net income +24,4% YoY
• ▍Free cash flow +160,9% YoY
• ▍Net margin 13.1%