C

Cheng Loong Corp
TWSE:1904

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Cheng Loong Corp
TWSE:1904
Watchlist
Price: 18.25 TWD 0.83% Market Closed
Market Cap: NT$20.2B

EV/EBIT

22.2
Current
19%
Cheaper
vs 3-y average of 27.5

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
22.2
=
Enterprise Value
NT$41B
/
EBIT
NT$1.9B

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
22.2
=
Enterprise Value
NT$41B
/
EBIT
NT$1.9B

Valuation Scenarios

Cheng Loong Corp is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (27.5), the stock would be worth NT$22.61 (24% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-23%
Maximum Upside
+24%
Average Upside
0%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 22.2 NT$18.25
0%
3-Year Average 27.5 NT$22.61
+24%
5-Year Average 23.5 NT$19.33
+6%
Industry Average 17.1 NT$14.05
-23%
Country Average 20.9 NT$17.14
-6%

Forward EV/EBIT
Today’s price vs future ebit

Not enough data available to calculate forward EV/EBIT

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
TW
Cheng Loong Corp
TWSE:1904
20.2B TWD 22.2 24.6
US
Westrock Co
LSE:0LW9
1.3T USD 1 291.2 4 402.6
US
Packaging Corp of America
NYSE:PKG
19B USD 20.6 25.7
UK
Amcor PLC
NYSE:AMCR
18B USD 19.1 30.2
US
International Paper Co
NYSE:IP
17.2B USD -3 116.6 -4.9
US
Avery Dennison Corp
NYSE:AVY
12.7B USD 13.9 18.5
UK
DS Smith PLC
LSE:SMDS
8B GBP 16.2 20.9
IE
Smurfit Kappa Group PLC
F:SK3
8.9B EUR 8.2 11.6
US
Sealed Air Corp
NYSE:SEE
6.2B USD 11.7 12.3
CH
SIG Group AG
SIX:SIGN
4.2B CHF 16 -52.4
CN
ShenZhen YUTO Packaging Technology Co Ltd
SZSE:002831
34.1B CNY 18.8 23.3
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
TW
C
Cheng Loong Corp
TWSE:1904
Average EV/EBIT: 143.8
22.2
N/A N/A
US
W
Westrock Co
LSE:0LW9
1 291.2
13%
99.3
US
Packaging Corp of America
NYSE:PKG
20.6
14%
1.5
UK
Amcor PLC
NYSE:AMCR
19.1
36%
0.5
US
International Paper Co
NYSE:IP
Negative Multiple: -3 116.6 N/A N/A
US
Avery Dennison Corp
NYSE:AVY
13.9
7%
2
UK
DS Smith PLC
LSE:SMDS
16.2
9%
1.8
IE
S
Smurfit Kappa Group PLC
F:SK3
8.2
5%
1.6
US
Sealed Air Corp
NYSE:SEE
11.7
7%
1.7
CH
SIG Group AG
SIX:SIGN
16
11%
1.5
CN
S
ShenZhen YUTO Packaging Technology Co Ltd
SZSE:002831
18.8
16%
1.2
P/E Multiple
Earnings Growth PEG
TW
C
Cheng Loong Corp
TWSE:1904
Average P/E: 507.7
24.6
N/A N/A
US
W
Westrock Co
LSE:0LW9
4 402.6
N/A N/A
US
Packaging Corp of America
NYSE:PKG
25.7
16%
1.6
UK
Amcor PLC
NYSE:AMCR
30.2
64%
0.5
US
International Paper Co
NYSE:IP
Negative Multiple: -4.9 N/A N/A
US
Avery Dennison Corp
NYSE:AVY
18.5
12%
1.5
UK
DS Smith PLC
LSE:SMDS
20.9
7%
3
IE
S
Smurfit Kappa Group PLC
F:SK3
11.6
13%
0.9
US
Sealed Air Corp
NYSE:SEE
12.3
N/A N/A
CH
SIG Group AG
SIX:SIGN
Negative Multiple: -52.4 N/A N/A
CN
S
ShenZhen YUTO Packaging Technology Co Ltd
SZSE:002831
23.3
15%
1.6

Market Distribution

In line with most companies in Taiwan
Percentile
55th
Based on 671 companies
55th percentile
22.2
Low
0.2 — 14.9
Typical Range
14.9 — 30.2
High
30.2 —
Distribution Statistics
Taiwan
Min 0.2
30th Percentile 14.9
Median 20.9
70th Percentile 30.2
Max 1 677.9

Cheng Loong Corp
Glance View

Market Cap
20.2B TWD
Industry
Packaging

Cheng Loong Corp. engages in the manufacture and sale of paper, corrugated carton, and other paper-related products. The company is headquartered in Taipei, New Taipei. The main products of the Company are divided into three categories. Paper board products mainly include industrial paper, such as liner boards, whiteboards and corrugated paper. Paper containers products include corrugated paper boards, waterproof cardboard cases and corrugated cardboard cases, among others. Paper products include cultural paper, household paper and business paper. Cultural paper includes light coated paper, among others. Household paper includes sanitary tissues, paper towels and paper diapers, among others. Business paper includes paper for credit sign bills, invoices and packaging. The firm operates through three geographical segments, including Taiwan, Mainland China and Southeast Asia.

Intrinsic Value
20.11 TWD
Undervaluation 9%
Intrinsic Value
Price NT$18.25
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