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.
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.
Amount off the current price
is available for.
Share price is
vs Future cash flow value of
Current Discount Checks
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
is considered below, and whether this is a fair price.
Price based on past earnings
Yuanta Futures's earnings available for a low price, and how does
this compare to other companies in the same industry?
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
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
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
expected to grow at an
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.
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.
Yuanta Futures's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
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.
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.
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.
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.
President & Director
Senior Asst VP of Finance Acc. Dept
Vice President of Compliance Department
Senior Vice President of Domestic Institution Division
Executive Vice President
Executive Vice President
Senior Vice President of Network Business Division
Senior Vice President of Proprietary Trade Department
Senior Vice President of Transaction Settlement
Board of Directors Tenure
Average tenure of the
board of directors in years:
The tenure for the Yuanta Futures board of directors is about average.
Board of Directors
Chairman of the Board
President & Director
Who owns this company?
Recent Insider Trading
No 3 month open market individual insider trading information.
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.
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