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1904.TW$19.65+3.42%
Fair $19.65+0.0%

1904.TW

Cheng Loong Corporation

Basic Materials / Paper & Paper ProductsTaiwan

$19.65

+0.65 (+3.42%)

Fairly Valued+0.0%Fair Value $19.65Fund rank 23/100 · Data gapFallback financials|
SA 35/D
F-Score: 5/9
Low Profitability

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 34% · confianza 17%

FCF escenarios

weak_data · normalized FCF $-313.5M · quality 42.7/100

Data gap 23/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 18/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

35/100

D

Piotroski

5/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 1unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Sector-specific commodity mid-cycle model required: targets are disabled until normalized cycle price/cost-curve/reserve data exists. ROE is 2.8%, below the 5% threshold
Thesis & Journal · 1904.TWLocal privado en este navegador · Cheng Loong Corporation
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$21.8B

P/E

26.6x

↑

EV/EBITDA

8.0x

↓

ROE

2.8%

↑

Gross Margin

18.0%

↓

Debt/Equity

1.05

↑
52-Week Range$20
$16$21

TradingView lightweight chart

1904.TW price, volumen y niveles de valoración

Último $19.65Periodo +119.9%
Fair value: $19.65

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

-0.7%

FCF CAGR

—

FCF margin

-2.4%

FCF / Net income

-1.27x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $42.98B · net income $823.0M · FCF $-1.04B

2022-FY → 2025-FY

Gross margin

18.0%+1.3% pts

Operating margin

4.4%+0.6% pts

Net margin

1.9%-3.8% pts

FCF margin

-2.4%+2.6% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$42.98B$42.98B$45.18B$42.17B$43.92B
Net Income$823.0M$823.0M$605.1M$922.1M$2.52B
EBITDA$5.84B$5.84B$6.00B$5.83B$6.62B
EPS——0.540.832.27
Gross Margin18.0%18.0%16.3%18.2%16.7%
Operating Margin4.4%4.4%3.4%4.9%3.8%
Net Margin1.9%1.9%1.3%2.2%5.7%
Balance Sheet
Debt/Equity1.051.051.051.000.99
Current Ratio0.950.95———
Cash Flow
Free Cash Flow$-1.04B$-1.04B$-259.0M$-313.5M$-2.19B
Returns
ROE2.8%2.8%2.0%3.2%8.9%
Valuation
P/E26.5526.5534.8135.4212.16
EV/EBITDA7.987.987.439.517.75
P/B0.740.740.711.131.08
Growth & Yield
Revenue Growth-4.9%-4.9%7.1%-4.0%—
EPS Growth——-34.9%-63.4%—
Dividend Yield2.3%2.3%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%
Reverse DCF requires positive EPS; loss-making or zero-EPS companies cannot produce a clean EPS hurdle.

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total +9.7%

Total return

+9.7%

Start / end P/E

n/dx → n/dx

EPS bridge

0.54 → n/d

Residual

+7.4%

EPS growthn/d
Multiple reratingn/d
Dividend+2.3%
Residual / FX / buybacks / cross-term+7.4%

EPS/multiple decomposition requires positive EPS at both endpoints; residual absorbs price move not explained by dividends.

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.