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China Steel Corp
TWSE:2002

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China Steel Corp
TWSE:2002
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Price: 19.15 TWD -2.05% Market Closed
Market Cap: NT$302.1B

P/OCF

5.9
Current
14%
More Expensive
vs 3-y average of 5.2

Price to Operating Cash Flow (P/OCF) ratio compares a company`s market value to the cash it generates from its core operations.

P/OCF
5.9
=
Market Cap
NT$296.5B
/
Operating Cash Flow
NT$49.3B

Price to Operating Cash Flow (P/OCF) ratio compares a company`s market value to the cash it generates from its core operations.

P/OCF
5.9
=
Market Cap
NT$296.5B
/
Operating Cash Flow
NT$49.3B

Valuation Scenarios

China Steel Corp is trading above its 3-year average

If P/OCF returns to its 3-Year Average (5.2), the stock would be worth NT$16.75 (13% downside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-13%
Maximum Upside
+122%
Average Upside
27%
Scenario P/OCF Value Implied Price Upside/Downside
Current Multiple 5.9 NT$19.15
0%
3-Year Average 5.2 NT$16.75
-13%
5-Year Average 5.2 NT$16.75
-13%
Industry Average 6.6 NT$21.43
+12%
Country Average 13.2 NT$42.57
+122%

Forward P/OCF
Today’s price vs future operating cash flow

Not enough data available to calculate forward P/OCF

Peer Comparison

All Multiples
P/OCF
P/E
All Countries
Close
Market Cap P/OCF P/E
TW
China Steel Corp
TWSE:2002
291.9B TWD 5.9 -67.1
ZA
Kumba Iron Ore Ltd
JSE:KIO
102B ZAR 3.8 7
BR
Vale SA
BOVESPA:VALE3
367B BRL 7.5 26.6
US
Nucor Corp
NYSE:NUE
49B USD 15.2 28.2
AU
Fortescue Metals Group Ltd
ASX:FMG
60.9B AUD 5.7 11.1
AU
Fortescue Ltd
XMUN:FVJ
37B EUR 5.9 11.4
LU
ArcelorMittal SA
AEX:MT
38.4B EUR 9.2 14.1
IN
JSW Steel Ltd
NSE:JSWSTEEL
3.1T INR 10.8 40.9
US
Steel Dynamics Inc
NASDAQ:STLD
32.8B USD 22.7 23.9
IN
Tata Steel Ltd
NSE:TATASTEEL
2.6T INR 8.6 28.5
US
Carpenter Technology Corp
NYSE:CRS
21.3B USD 42.1 48.8
P/E Multiple
Earnings Growth PEG
TW
C
China Steel Corp
TWSE:2002
Average P/E: 24.1
Negative Multiple: -67.1
N/A N/A
ZA
K
Kumba Iron Ore Ltd
JSE:KIO
7
-5%
N/A
BR
Vale SA
BOVESPA:VALE3
26.6
47%
0.6
US
Nucor Corp
NYSE:NUE
28.2
25%
1.1
AU
Fortescue Metals Group Ltd
ASX:FMG
11.1
-5%
N/A
AU
F
Fortescue Ltd
XMUN:FVJ
11.4
-5%
N/A
LU
ArcelorMittal SA
AEX:MT
14.1
18%
0.8
IN
JSW Steel Ltd
NSE:JSWSTEEL
40.9
72%
0.6
US
Steel Dynamics Inc
NASDAQ:STLD
23.9
23%
1
IN
Tata Steel Ltd
NSE:TATASTEEL
28.5
82%
0.3
US
Carpenter Technology Corp
NYSE:CRS
48.8
24%
2

Market Distribution

Lower than 85% of companies in Taiwan
Percentile
15th
Based on 708 companies
15th percentile
5.9
Low
0.5 — 8.9
Typical Range
8.9 — 20.4
High
20.4 —
Distribution Statistics
Taiwan
Min 0.5
30th Percentile 8.9
Median 13.2
70th Percentile 20.4
Max 5 587.5

China Steel Corp
Glance View

Market Cap
302.1B TWD
Industry
Metals & Mining

As dawn breaks over the bustling port of Kaohsiung, Taiwan, the hum of China Steel Corporation's (CSC) operations readily comes to life, propelling the company's pivotal role in weaving the fabric of industrial progress both locally and globally. Founded in 1971, CSC emerged as Taiwan's industrial powerhouse, situated strategically to tap into rapidly expanding Asian markets. With an integrated steel mill layout that optimizes production processes, CSC efficiently transforms raw materials into a vast array of steel products. It’s the backbone of various sectors—construction, automotive, shipbuilding, and home appliances. The business orchestrates a seamless play of precision and scale, utilizing cutting-edge technologies and a diligent workforce to manufacture hot rolled and cold-rolled sheets, bars, rods, and other steel forms that forge infrastructure and sustain daily life. In its business model, CSC maintains a robust interplay between production efficiency and market demand responsiveness. The company thrives on its strategic sourcing of raw materials, primarily through long-term contracts, which stabilizes supply costs and enhances margins. Financial success stems from the strategic sale of steel products across a diversified clientele, leveraging its established reputation and quality consistency. With volatile global steel prices, CSC prudently navigates market challenges by focusing on high-value steel and expanding into environmentally friendly production practices. By investing in research and development, CSC continues to refine its processes, ensuring a sustainable and competitive edge. In this way, China Steel Corporation not only solidifies its standing in the global steel hierarchy but also reinforces Taiwan’s stature as an industrial luminary on the world stage.

Intrinsic Value
18.91 TWD
Overvaluation 1%
Intrinsic Value
Price NT$19.15
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