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    Consumer durables

  3. •

    Homebuilding
Huang Hsiang Construction Corporation

Huang Hsiang Construction Corporation

TTWSE:2545
33.25
TWD
-0.20
(-0.60%)
0.95EPS
40.49P/E
14.60BMarket Cap
Huang Hsiang Construction Corporation
TWSE:2545
(Taiwan Stock Exchange)

Recent

price

33.25

P/E

ratio

40.49

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
3.79
14.8
34
15.23
13.79
5.29
39.58
8.87
9.07
9.46
19.13
23.26
20.95
14.07
37.81
17.16
11.92
Revenue per Share
0.6
4.07
16.08
4.89
5.44
0.27
5.83
0.68
2.51
0.04
5.18
7.25
5.62
2.26
9.05
1.92
0.95
Basic EPS, GAAP
-9.39
-3.95
10.4
5.29
3.14
-6.18
20.57
-2.36
2.21
1.18
2.84
-3.84
-3.91
-2.54
13.75
-15.75
-16.16
Free Cash Flow per Basic Share
2.43
1.46
2.91
7.28
3.88
3.88
1.17
4.37
1.46
1.75
1.17
4.37
6.12
4.47
2.3
4.17
- -
Dividend per Share
20.08
20.73
33.89
31.51
33.07
29.45
34.11
30.42
31.55
29.85
33.86
36.73
36.24
34.03
40.59
39.34
38.58
Book Value per Share
20.08
20.73
33.89
31.5
33.06
29.44
34.11
30.42
31.52
29.82
33.84
36.73
36.23
34.02
40.58
39.33
38.57
Tangible Book Value per Share
337
337
337
337
337
337
337
337
337
337
337
337
337
337
328
354
380
Basic Weighted Avg Shares
1,279
4,996
11,473
5,138
4,654
1,787
13,355
2,995
3,061
3,193
6,456
7,850
7,069
4,746
12,392
6,076
4,531
Sales/Revenue/Turnover
8.22
35.13
50.47
40.05
43.6
16.98
21.16
10.15
18.1
11.84
32.12
36.29
28.46
26.41
32.81
24.22
5.8
Operating Margin (%)
10
10
32
56
61
61
16
16
54
155
157
179
176
168
248
327
327
Depreciation Expense
202
1,372
5,425
1,652
1,836
91
1,968
228
847
14
1,747
2,446
1,896
762
2,967
681
361
Net Income, GAAP
18.59
0.41
3.38
12.91
4.17
27.57
17.27
- -
5.24
74.92
1.07
2.68
3.64
17
10.92
14.83
18.88
Effective Tax Rate (%)
15.8
27.46
47.29
32.15
39.44
5.08
14.74
7.62
27.68
0.45
27.05
31.16
26.82
16.05
23.94
11.22
7.97
Profit Margin (%)
6,125
6,980
6,526
7,137
7,737
6,419
5,177
5,411
6,756
5,534
7,120
8,981
9,627
7,657
13,758
15,495
15,416
Working Capital
291
416
3,918
6,006
6,288
6,529
6,600
9,045
10,412
10,985
11,978
13,123
14,033
13,825
18,630
19,188
19,252
LT Debt
6,790
7,009
11,452
10,633
11,157
9,937
11,512
10,265
10,647
10,072
11,425
12,396
12,228
11,482
13,696
14,939
14,648
Total Equity
0.29
6.01
17.27
5.08
5.24
0.56
6.2
- -
1.39
0.25
5.17
6.42
4.07
2.06
6.99
2.3
0.37
Return on Invested Capital (%)
0.86
5.33
17.79
5.37
5.64
0.7
5.85
- -
3.13
0.28
5.3
6.52
5.05
2.56
7.1
2.61
1.93
Return on Capital (%)
2.85
19.93
58.87
14.97
16.85
0.86
18.35
2.1
8.1
0.14
16.25
20.54
15.4
6.43
23.57
4.76
2.41
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
22,717
24,191
25,401
LT Borrowings
18,356
19,067
18,422
LT Finance Leases
832
828
830
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
380
380
380
Market Capitalization
14,867
13,557
14,601

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
41,541
44,003
45,857
Cash, Cash Equivalents & STI
3,505
4,668
4,381
Accounts Receivable, Net
193
303
114
Inventories
35,619
36,626
37,729
Total Current Liabilities
26,046
27,733
30,441
Payables & Accruals
- -
- -
- -
ST Debt
22,717
24,191
25,401
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.62%
5.88%
9.07%
Free Cash Flow
-176.13%
-223.44%
-223.71%
Net Income, GAAP
1,440.74%
34.04%
-77.03%
Sales/Revenue/Turnover
76.75%
17.78%
-50.97%
Total Cash Common Dividend
45.87%
66.73%
95.65%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,430
3,288
4,447
2,227
12,392
2025
1,452
3,656
575
394
6,076
2026
1,967
1,596
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.77
2.45
3.3
1.43
9.05
2025
0.35
2.98
-0.53
-0.55
1.92
2026
-0.01
2.05
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
2.3
2025
- -
- -
- -
- -
4.17
2026
- -
- -
- -
- -
- -
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Business
Huang Hsiang Construction Corporation (2545.TW) engages primarily in civil engineering and building construction activities in Taiwan. The company undertakes a broad range of projects including mass rapid transit systems; highways and bridges; water conservancy facilities such as reservoirs, dams, and irrigation systems; building construction encompassing residential, commercial, and public structures; and geotechnical engineering services like foundation work and slope stabilization. It also provides construction management, planning consultancy, and electromechanical installations for infrastructure projects. Founded in 1975 and headquartered in Taoyuan City, Taiwan, Huang Hsiang operates predominantly within the domestic market, serving government agencies, public utilities, and private developers across northern, central, and southern regions of the island. The company maintains subsidiaries focused on specialized engineering and material supply to support its core operations, with no publicly disclosed parent company. Its business segments emphasize public infrastructure development and urban construction amid Taiwan's ongoing investments in transportation and flood control. In recent developments, Huang Hsiang secured key contracts in 2024 for the Taoyuan Mass Rapid Transit Green Line Phase 2 and Taichung MRT Blue Line extensions, bolstering its transit portfolio. The company completed a significant reorganization in early 2025, streamlining its project divisions to enhance operational efficiency following a NT$2.5 billion funding round for equipment upgrades. Additionally, it launched expanded geotechnical services targeting seismic-resilient designs in response to updated building codes, alongside a strategic alliance with Japan-based Obayashi Corporation for advanced tunneling technology transfer.