1. Taiwan, Province of China Stocks

  2. •

    Utilities

  3. •

    Regulated Gas
Hsin Tai Gas Co., Ltd.

Hsin Tai Gas Co., Ltd.

8917.TWO
Hsin Tai Gas Co., Ltd.TW flagTaipei Exchange
53.00
TWD
- -
- -
8.62BMarket Cap
Hsin Tai Gas Co., Ltd.
8917.TWO
(Taipei Exchange)

Recent

price

53.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
10.68
10.92
12.26
12.03
12.61
9.84
9.15
10.18
11.77
15.09
14.22
14.13
15.59
15.88
17.04
- -
19
Revenue per Share
1.61
1.4
1.31
0.91
0.85
0.94
1.05
1.3
1.49
2.25
1.99
2.01
2.26
2.38
2.36
- -
2.23
Basic EPS, GAAP
-0.81
1.28
1.26
1.54
2.07
2.29
2.57
1.18
1.06
1
0.66
2.23
1.82
3.04
2.42
- -
2.53
Free Cash Flow per Basic Share
0.93
0.97
0.9
1.17
0.73
0.75
0.75
0.92
1.13
1.58
0.75
1.24
1
2
2.2
- -
- -
Dividend per Share
8.35
9.03
9.21
10.61
8.43
8.49
8.69
8.91
9.26
9.77
10.78
11.34
12.46
12.61
12.61
- -
12.42
Book Value per Share
10.31
10.65
10.96
10.71
10.85
11.01
11.26
11.65
12.01
12.64
13.97
14.81
16.22
16.61
16.72
- -
16.75
Tangible Book Value per Share
163
163
163
163
163
163
163
163
163
163
163
163
163
163
163
- -
163
Basic Weighted Avg Shares
1,737
1,776
1,994
1,957
2,051
1,601
1,489
1,656
1,915
2,454
2,312
2,299
2,536
2,583
2,772
3,098
3,098
Sales/Revenue/Turnover
17.96
15.04
12.51
8.68
7.55
10.74
13.14
14.39
15.04
17.55
17.46
16.95
17.25
17.28
15.15
13.58
13.58
Operating Margin (%)
98
94
100
107
118
120
133
146
163
192
223
267
288
299
315
327
327
Depreciation Expense
262
228
213
148
139
152
172
212
243
366
324
326
368
387
384
363
363
Net Income, GAAP
18.82
17.58
16.99
17.24
17.03
17.14
18.1
17.1
19.04
19.02
19.77
19.32
19.56
19.26
19.11
20.09
20.09
Effective Tax Rate (%)
15.08
12.82
10.7
7.54
6.77
9.51
11.53
12.78
12.69
14.9
14.01
14.2
14.51
15
13.85
11.73
11.73
Profit Margin (%)
363
531
620
516
594
696
760
970
859
786
966
1,063
1,285
1,327
1,168
1,173
1,173
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
10
12
12
11
11
6
7
7
LT Debt
1,684
1,734
1,789
1,752
1,770
1,793
1,838
1,898
1,960
2,068
2,283
2,414
2,644
2,708
2,724
2,732
2,732
Total Equity
15.17
12.69
11.62
7.88
7.25
7.93
8.75
10.46
11.89
16.87
14.47
13.08
13.59
13.16
12.23
12.06
12.06
Return on Invested Capital (%)
19.94
16.11
14.38
9.15
8.97
11.06
12.28
14.79
16.43
23.51
19.2
17.98
18.86
18.85
18.57
17.7
17.7
Return on Capital (%)
19.94
16.11
14.38
9.15
8.97
11.06
12.28
14.79
16.44
23.62
19.39
18.14
19.01
18.99
18.71
17.82
17.82
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
6
6
6
LT Borrowings
- -
- -
- -
LT Finance Leases
7
8
7
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
163
163
163
Market Capitalization
9,922
10,026
9,455

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
2,850
2,613
2,782
Cash, Cash Equivalents & STI
2,500
2,268
2,397
Accounts Receivable, Net
261
242
290
Inventories
67
73
75
Total Current Liabilities
1,920
1,625
1,610
Payables & Accruals
- -
- -
- -
ST Debt
6
6
6
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.35%
3.72%
0.31%
Free Cash Flow
18.08%
54.6%
4.89%
Net Income, GAAP
10.25%
2.49%
-5.38%
Sales/Revenue/Turnover
7.29%
6.13%
11.76%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
716
643
582
643
2,583
2024
715
662
625
769
2,772
2025
821
813
693
770
3,098

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
0.68
0.71
0.56
- -
2.38
2024
0.64
0.76
0.53
- -
2.36
2025
0.54
0.63
0.53
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
2
2024
- -
- -
- -
- -
2.2
2025
- -
- -
- -
- -
- -
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Business
Hsin Tai Gas Co., Ltd. engages primarily in the supply and sale of natural gas in Taiwan. The company manufactures and provides a range of products and services including the design, construction, and maintenance of gas pipelines; gas safety equipment; gas transmission system construction; and the sale and installation of gas meters. It also operates an office building leasing business. Hsin Tai Gas serves residential, government, and commercial customers within designated operational areas approved by Taiwan's competent authorities. Founded in 1975 and headquartered in New Taipei City, Taiwan, Hsin Tai Gas operates primarily within Taiwan, supplying natural gas mainly sourced from China National Petroleum Corporation. The company’s geographic coverage includes multiple districts in the Taipei metropolitan area, supplying natural gas to household users in regions such as Shulin, Tuchen, Sanhsia, Yinko, Luchou, and other localities. Recent developments in the past one to two years include continued expansion and improvements in gas pipeline infrastructure and safety equipment to enhance service reliability and safety. The company has maintained its focus on developing and upgrading its transmission systems and meter installation services, while continuing stable financial performance. No major acquisitions or strategic pivots have been publicly disclosed recently, but Hsin Tai Gas upholds its operational focus on regulated gas utilities under Taiwan’s regulatory framework. Hsin Tai Gas is publicly listed on the Taipei Exchange under ticker 8917.TWO. It operates as a regulated utility within the gas sector, emphasizing safe, economical, and environmentally friendly natural gas distribution supported by comprehensive pipeline construction and after-sales services. The company is led by General Manager Jung-fang Hou and maintains a strong emphasis on compliance with safety and environmental standards. The company’s core offerings thus encompass natural gas supply and transmission; pipeline and gas safety equipment design and construction; gas meter sales, installation, and servicing; and office property leasing, with a strategic operational focus on serving regulated gas utility markets in northern Taiwan regions. Hsin Tai Gas continues to prioritize pipeline safety enhancement and customer service within its operational jurisdiction to maintain steady growth and compliance with regulatory standards.