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Yuanta Futures

GTSM:6023
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
6023
GTSM
NT$12B
Market Cap
  1. Home
  2. TW
  3. Diversified Financials
Company description

Yuanta Futures Co., Ltd. provides futures brokerage, proprietary futures and securities trading, futures consultation, futures clearing and settlement, securities introducing agency, and leverage transaction merchants services in Taiwan and internationally. The last earnings update was 14 days ago. More info.


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6023 Share Price and Events
7 Day Returns
1.4%
GTSM:6023
0.1%
TW Capital Markets
2%
TW Market
1 Year Returns
3.7%
GTSM:6023
-5.6%
TW Capital Markets
-10.1%
TW Market
6023 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Yuanta Futures (6023) 1.4% -6.7% -10.6% 3.7% 25.3% 11%
TW Capital Markets 0.1% -9% -11.9% -5.6% 8.2% 6.6%
TW Market 2% -13.5% -17.4% -10.1% -2.7% 0.4%
1 Year Return vs Industry and Market
  • 6023 outperformed the Capital Markets industry which returned -5.6% over the past year.
  • 6023 outperformed the Market in Taiwan, Province of China which returned -10.1% over the past year.
Price Volatility
6023
Industry
5yr Volatility vs Market

Value

 Is Yuanta Futures undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Yuanta Futures to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Yuanta Futures.

GTSM:6023 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= NT$33.32 * 12.2%
NT$4.07
Book Value of Equity per Share Median Book Value from the past 5 years. NT$33.32
Discount Rate (Cost of Equity) See below 5.9%
Perpetual Growth Rate 10-Year TW Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for GTSM:6023
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year TW Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.749 (1 + (1- 20%) (0.59%))
0.834
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (0.834 * 6.21%)
5.89%

Discounted Cash Flow Calculation for GTSM:6023 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Yuanta Futures is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

GTSM:6023 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.2% – 5.89%) * NT$33.32)
NT$2.10
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NT$2.10 / (5.89% - 0.71%)
NT$40.63
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NT$33.32 + NT$40.63
NT$73.96
GTSM:6023 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$73.96
Current discount Discount to share price of NT$49.45
= -1 x (NT$49.45 - NT$73.96) / NT$73.96
33.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Yuanta Futures is available for.
Intrinsic value
33%
Share price is NT$49.45 vs Future cash flow value of NT$73.96
Current Discount Checks
For Yuanta Futures to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Yuanta Futures's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Yuanta Futures's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Yuanta Futures's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Yuanta Futures's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:6023 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$4.89
GTSM:6023 Share Price ** GTSM (2020-04-06) in TWD NT$49.45
Taiwan, Province of China Capital Markets Industry PE Ratio Median Figure of 14 Publicly-Listed Capital Markets Companies 13.56x
Taiwan, Province of China Market PE Ratio Median Figure of 1,475 Publicly-Listed Companies 14.11x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Yuanta Futures.

GTSM:6023 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:6023 Share Price ÷ EPS (both in TWD)

= 49.45 ÷ 4.89

10.11x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Yuanta Futures is good value based on earnings compared to the TW Capital Markets industry average.
  • Yuanta Futures is good value based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Yuanta Futures's expected growth come at a high price?
Raw Data
GTSM:6023 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.11x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Capital Markets Industry PEG Ratio Median Figure of 61 Publicly-Listed Capital Markets Companies 1.52x
Taiwan, Province of China Market PEG Ratio Median Figure of 183 Publicly-Listed Companies 1.08x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Yuanta Futures, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Yuanta Futures's assets?
Raw Data
GTSM:6023 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$38.13
GTSM:6023 Share Price * GTSM (2020-04-06) in TWD NT$49.45
Taiwan, Province of China Capital Markets Industry PB Ratio Median Figure of 15 Publicly-Listed Capital Markets Companies 0.72x
Taiwan, Province of China Market PB Ratio Median Figure of 1,961 Publicly-Listed Companies 1.17x
GTSM:6023 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:6023 Share Price ÷ Book Value per Share (both in TWD)

= 49.45 ÷ 38.13

1.3x

* Primary Listing of Yuanta Futures.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Yuanta Futures is overvalued based on assets compared to the TW Capital Markets industry average.
X
Value checks
We assess Yuanta Futures's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Yuanta Futures has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Yuanta Futures expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 Yuanta Futures 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.5%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Yuanta Futures expected to grow at an attractive rate?
  • Unable to compare Yuanta Futures's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Yuanta Futures's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare Yuanta Futures's revenue growth to the Taiwan, Province of China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
GTSM:6023 Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
Asia Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 7%
Taiwan, Province of China Market Earnings Growth Rate Market Cap Weighted Average 11.1%
Taiwan, Province of China Market Revenue Growth Rate Market Cap Weighted Average 6.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
GTSM:6023 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
GTSM:6023 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 2,831 1,045 1,136
2019-09-30 3,150 1,296 1,218
2019-06-30 3,310 739 1,158
2019-03-31 3,274 1,186 1,047
2018-12-31 3,484 1,016 1,000
2018-09-30 3,228 897 945
2018-06-30 3,201 1,397 961
2018-03-31 3,110 876 918
2017-12-31 2,861 1,224 873
2017-09-30 2,812 838 827
2017-06-30 2,631 868 736
2017-03-31 2,698 1,029 789

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Yuanta Futures is high growth as no earnings estimate data is available.
  • Unable to determine if Yuanta Futures is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
GTSM:6023 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Yuanta Futures Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:6023 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 4.89
2019-09-30 5.25
2019-06-30 4.99
2019-03-31 4.51
2018-12-31 4.31
2018-09-30 4.07
2018-06-30 4.14
2018-03-31 3.95
2017-12-31 3.76
2017-09-30 3.56
2017-06-30 3.17
2017-03-31 3.39

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Yuanta Futures will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Yuanta Futures is trading at Yuanta Futures'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Yuanta Futures's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Yuanta Futures's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Yuanta Futures has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Yuanta Futures performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Yuanta Futures's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Yuanta Futures's year on year earnings growth rate has been positive over the past 5 years.
  • Yuanta Futures's 1-year earnings growth exceeds its 5-year average (13.6% vs 9.4%)
  • Yuanta Futures's earnings growth has exceeded the TW Capital Markets industry average in the past year (13.6% vs 3.4%).
Earnings and Revenue History
Yuanta Futures's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Yuanta Futures Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:6023 Past Revenue, Cash Flow and Net Income Data
Date (Data in TWD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,830.86 1,135.80 701.17
2019-09-30 3,150.23 1,218.33 726.12
2019-06-30 3,309.83 1,158.17 703.52
2019-03-31 3,274.42 1,047.02 639.49
2018-12-31 3,484.46 1,000.05 673.79
2018-09-30 3,227.51 944.83 649.94
2018-06-30 3,201.35 961.12 664.82
2018-03-31 3,109.70 917.94 697.13
2017-12-31 2,860.66 873.29 595.74
2017-09-30 2,812.44 826.50 600.74
2017-06-30 2,631.28 736.01 563.18
2017-03-31 2,698.35 788.53 552.73
2016-12-31 2,853.36 835.71 587.39
2016-09-30 2,944.46 833.08 588.85
2016-06-30 3,195.38 903.67 615.16
2016-03-31 3,148.07 857.36 597.72
2015-12-31 2,901.07 777.09 576.46
2015-09-30 2,789.07 763.16 582.12
2015-06-30 2,522.24 681.47 564.66
2015-03-31 2,324.34 629.86 533.19
2014-12-31 2,257.74 871.05 543.10
2014-09-30 2,107.02 874.06 535.68
2014-06-30 2,070.16 862.99 516.22
2014-03-31 2,274.03 924.79 567.32
2013-12-31 2,371.94 653.87 567.04
2013-09-30 2,510.83 612.65 558.10
2013-06-30 2,498.97 563.21 534.71

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Yuanta Futures has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Yuanta Futures used its assets more efficiently than the TW Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Yuanta Futures improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Yuanta Futures's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Yuanta Futures has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Yuanta Futures's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Yuanta Futures's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Yuanta Futures is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Yuanta Futures's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Yuanta Futures's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 13817.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Yuanta Futures Company Filings, last reported 3 months ago.

GTSM:6023 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 8,856.14 5.16 6,122.69
2019-09-30 8,614.41 9.08 5,784.20
2019-06-30 8,268.51 10.81 5,589.18
2019-03-31 8,538.27 34.84 5,940.43
2018-12-31 8,220.55 20.09 5,691.76
2018-09-30 7,893.58 7.66 5,285.52
2018-06-30 7,572.66 23.04 5,652.11
2018-03-31 7,740.54 19.67 5,326.29
2017-12-31 7,467.59 0.40 4,923.24
2017-09-30 7,241.48 1.96 4,537.05
2017-06-30 6,957.76 9.61 4,130.28
2017-03-31 7,355.98 13.10 5,049.43
2016-12-31 7,183.90 5.10 4,906.45
2016-09-30 7,014.84 1.24 5,004.80
2016-06-30 6,811.32 7.21 4,946.43
2016-03-31 7,110.48 8.69 5,188.52
2015-12-31 6,777.11 10.07 4,954.05
2015-09-30 6,563.67 10.15 4,712.01
2015-06-30 6,279.02 2.21 4,319.07
2015-03-31 7,684.73 3.27 5,839.87
2014-12-31 7,448.03 5.99 5,767.29
2014-09-30 7,191.68 20.26 5,509.89
2014-06-30 6,977.02 2.62 5,361.23
2014-03-31 7,309.65 1.47 5,685.92
2013-12-31 7,005.07 1.18 5,232.34
2013-09-30 6,772.59 7.58 5,048.72
2013-06-30 6,593.41 5.36 4,895.51
  • Yuanta Futures's level of debt (0.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (0.1% vs 0.1% today).
  • Debt is well covered by operating cash flow (20267.9%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Yuanta Futures's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Yuanta Futures's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Yuanta Futures has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Yuanta Futures's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.47%
Current annual income from Yuanta Futures dividends.
If you bought NT$2,000 of Yuanta Futures shares you are expected to receive NT$129 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Yuanta Futures's pays a higher dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.22%).
  • Yuanta Futures's dividend is below the markets top 25% of dividend payers in Taiwan, Province of China (6.88%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
GTSM:6023 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Taiwan, Province of China Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 5.6%
Taiwan, Province of China Market Average Dividend Yield Market Cap Weighted Average of 1329 Stocks 4.5%
Taiwan, Province of China Minimum Threshold Dividend Yield 10th Percentile 1.8%
Taiwan, Province of China Bottom 25% Dividend Yield 25th Percentile 3.2%
Taiwan, Province of China Top 25% Dividend Yield 75th Percentile 6.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

GTSM:6023 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2020-03-24 3.200 6.484
2020-03-23 3.200 6.568
2019-03-21 2.800 5.412
2018-03-31 2.000 4.639
2017-03-30 2.470 6.065
2016-03-30 2.280 6.057
2015-05-14 2.640 7.127
2015-03-26 2.650 5.628
2014-02-27 1.891 5.613
2013-11-13 1.540 4.482
2013-08-30 1.540 4.665
2013-05-14 1.540 4.728
2013-03-28 1.790 5.455
2012-03-28 2.396 7.272
2012-03-05 2.396 6.473
2011-10-28 1.580 4.561
2011-08-30 1.580 4.159
2011-04-29 1.580 4.218
2011-04-28 1.580 4.174
2010-04-29 1.830 4.773
2010-04-28 1.830 4.598
2009-04-27 3.000 7.459

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Yuanta Futures's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Yuanta Futures's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Yuanta Futures afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Yuanta Futures has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Yuanta Futures's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Carolyn Chou
CEO Bio

Ms. Hsiao-Ling Chou serves as the President of Polaris MF Global Futures at Yuanta Financial Holding Co., Ltd. Ms. Chou has been General Manager of Yuanta Futures Co., Ltd since March 2014 and serves as its President. She is employed at Yuanta Securities Finance Co., Ltd. She served as Vice Chairman of Yuanta Futures Co., Ltd and has been its Representative Director since November 21, 2007. She serves as a Director of Taiwan Futures Exchange Corporation.

CEO Compensation
  • Insufficient data for Carolyn to compare compensation growth.
  • Insufficient data for Carolyn to establish whether their remuneration is reasonable compared to companies of similar size in Taiwan, Province of China.
Management Team

Carolyn Chou

TITLE
President & Director

Liang-Huei Yuan

TITLE
Senior Asst VP of Finance Acc. Dept
TENURE
8 yrs

Li-Ling Chien

TITLE
Vice President of Compliance Department

Chia-Ling Tsai

TITLE
Senior Vice President of Domestic Institution Division

Kuo-Chun Hsu

TITLE
Executive Vice President

Allen Wang

TITLE
Executive Vice President
TENURE
2.7 yrs

Yi-Jui Kao

TITLE
Senior Vice President of Network Business Division

Shu-Fang Chen

TITLE
Senior Vice President of Proprietary Trade Department

Lai-O Yen

TITLE
Senior Vice President of Transaction Settlement
Board of Directors Tenure

Average tenure of the Yuanta Futures board of directors in years:

3.8
Average Tenure
  • The tenure for the Yuanta Futures board of directors is about average.
Board of Directors

Frank Lin

TITLE
Chairman of the Board

Carolyn Chou

TITLE
President & Director
TENURE
12.4 yrs

Cho-Min Yu

TITLE
Independent Director

Steven Chiu

TITLE
Representative Director
TENURE
3.8 yrs

Yueh-Tsang Li

TITLE
Representative Director
TENURE
3.8 yrs

Nai-Kuan Huang

TITLE
Independent Director

Cheng-Hua Sun

TITLE
Director
TENURE
1 yrs

Mei-Ling Kuo

TITLE
Director
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NT$) Value (NT$)
X
Management checks
We assess Yuanta Futures's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Yuanta Futures has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Yuanta Futures Co., Ltd. provides futures brokerage, proprietary futures and securities trading, futures consultation, futures clearing and settlement, securities introducing agency, and leverage transaction merchants services in Taiwan and internationally. The company was founded in 1997 and is headquartered in Taipei, Taiwan. Yuanta Futures Co., Ltd. is a subsidiary of Yuanta Financial Holding Co., Ltd.

Details
Name: Yuanta Futures Co., Ltd.
6023
Exchange: GTSM
Founded: 1997
NT$12,486,315,585
249,976,288
Website: http://www.yuantafutures.com.tw
Address: Yuanta Futures Co., Ltd.
No. 225 Nanjing East Road,
11th & 12th Floor,
Taipei,
104,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 6023 Common Shares Taipei Exchange TW TWD 27. Oct 2004
Number of employees
Current staff
Staff numbers
411
Yuanta Futures employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 14:32
End of day share price update: 2020/04/06 00:00
Last earnings filing: 2020/03/24
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.