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China Bills Finance Corporation

China Bills Finance Corporation

TTWSE:2820
16.60
TWD
-0.05
(-0.30%)
1.51EPS
11.10P/E
22.56BMarket Cap
China Bills Finance Corporation
TWSE:2820
(Taiwan Stock Exchange)

Recent

price

16.60

P/E

ratio

11.10

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
TWD
1.41
1.02
1.05
1.19
1.39
1.66
1.75
1.55
1.48
1.52
1.87
2.11
1.21
1.5
1.67
2.22
2.58
Revenue per Share
1.14
3.16
0.87
1.04
1.03
1.2
1.22
1.01
0.99
0.93
1.18
1.38
0.77
0.96
1.02
1.34
1.51
Basic EPS, GAAP
3.22
-3.59
1.93
-2.52
2.11
1.84
-2.97
-1.46
-3.72
10.13
3.61
-1.15
2.47
-4.46
-1.19
-6.18
-4.5
Free Cash Flow per Basic Share
0.85
0.81
1.5
0.8
0.7
0.72
0.83
0.84
0.71
0.79
0.72
0.87
0.9
0.5
0.73
0.78
- -
Dividend per Share
13.78
16.12
15.48
15.6
15.98
16.67
16.71
17.14
17.35
17.76
18.95
19.03
16.37
18.57
18.78
20.72
20.76
Book Value per Share
13.78
16.12
15.48
15.6
15.98
16.67
16.71
17.14
17.35
17.76
18.95
19.03
16.37
18.57
18.78
20.72
20.76
Tangible Book Value per Share
1,360
1,343
1,343
1,343
1,343
1,343
1,343
1,343
1,343
1,343
1,343
1,343
1,343
1,343
1,343
1,343
1,348
Basic Weighted Avg Shares
1,922
1,364
1,412
1,602
1,873
2,231
2,346
2,085
1,984
2,036
2,509
2,839
1,618
2,018
2,245
2,975
3,482
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
19
13
11
10
12
12
10
9
8
24
13
13
25
25
26
26
27
Depreciation Expense
1,555
4,245
1,162
1,401
1,385
1,610
1,634
1,351
1,335
1,245
1,578
1,858
1,040
1,289
1,374
1,796
2,039
Net Income, GAAP
18.21
5.06
23.68
16.81
16.46
16.04
18.32
16.92
18.08
19.88
20.76
20.34
13.4
15.37
16.87
20.37
20.38
Effective Tax Rate (%)
80.89
311.29
82.27
87.47
73.97
72.15
69.63
64.81
67.32
61.14
62.91
65.43
64.28
63.86
61.23
60.37
58.57
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
500
5
4,502
4,502
33
17
3
31
27
LT Debt
18,506
21,653
20,791
20,948
21,467
22,385
22,437
23,025
23,298
23,855
25,449
25,557
21,978
24,933
25,222
27,830
27,875
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
7.75
21.14
5.47
6.71
6.53
7.34
7.29
5.94
5.7
5.22
5.87
6.19
4
5.49
5.48
6.77
7.57
Return on Capital (%)
7.75
21.14
5.47
6.71
6.53
7.34
7.29
5.94
5.77
5.28
6.4
7.28
4.38
5.49
5.48
6.77
7.58
Return on Common Equity (%)

Capital Structure

TWD

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,343
1,343
1,343
Market Capitalization
21,823
22,696
22,562

Working Capital

TWD

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
306
369
327
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.45%
2.27%
10.34%
Free Cash Flow
-97.44%
-76.12%
420.27%
Net Income, GAAP
3.79%
6.98%
30.69%
Sales/Revenue/Turnover
5.37%
7.73%
32.55%
Total Cash Common Dividend
3.61%
6.54%
6.85%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
680
427
645
492
2,245
2025
587
835
829
724
2,975
2026
1,094
- -
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.32
0.18
0.31
0.21
1.02
2025
0.3
0.42
0.33
0.29
1.34
2026
0.48
- -
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.73
2025
- -
- -
- -
- -
0.78
2026
- -
- -
- -
- -
- -
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Business
China Bills Finance Corporation (2820:TT) provides certification, underwriting, brokerage, trading, and guaranteeing services for short-term bills, bank debentures, foreign currency bills, government bonds, corporate bonds, financial bonds, and foreign bonds in Taiwan; offers financial consulting services to enterprises, processes interbank call loans, engages in equity investments, fixed income securities trading, and trust services; and operates through bill, bonds, equity investment, and trust segments. The company maintains a network of branches in Taipei, Banqiao, Taoyuan, Taichung, Tainan, and Kaohsiung, serving domestic institutional and corporate clients in the capital markets sector. Founded in 1978 and headquartered at 4F, No. 99, Sec. 2, Tiding Blvd., Neihu Dist., Taipei City, Taiwan, it employs 167 staff and focuses on short-term financing instruments and fixed income products. Recent board resolutions include approval of cash dividends payable July 25, 2025, for fiscal 2024 earnings, alongside first-quarter 2025 financial reporting on April 30, 2025, and a donation to the Chinese Police Friends Association in March 2025, reflecting stable operational continuity amid Fitch Ratings' outlook of improved profitability in second-half 2025 and 2026 from rising bond yields and lower funding costs.