Professional
Added to YB: 2026-10-13
Pitch date: 2026-10-08
5515.TW [bullish]
Chien Kuo Construction Co., Ltd.
-0.95%
current return
Author Info
Stone Sentinel Capital utilizes differentiated thinking and fundamental analysis in crafting a concentrated portfolio of global equities with very favorable risk-reward structures. Sign up for the newsletter.
Company Info
Chien Kuo Construction Co., Ltd. engages in the construction business in Taiwan and China. The company constructs various projects, such as office buildings, hotel, residential building, education and healthcare facilities, social housing, and cultural and technology facilities.
Market Cap
TWD 10.6B
Pitch Price
TWD 52.40
Price Target
N/A
Dividend
6.26%
EV/EBITDA
2.82
P/E
5.39
EV/Sales
0.38
Sector
Construction and Engineering
Category
value
Stone Sentinel Capital New Position: Chien Kuo Construction Co., Ltd.
5515.TW: Chien Kuo’s haircut-adjusted NT$8B investment portfolio represents roughly 80% of market cap, leaving a construction business earning NT$490M mid-cycle valued at 4.1x P/E. With low-single-digit segment revenue growth and maintained margins, an 8-10x segment multiple, 6.5% dividend yield and 5% EPS growth imply a roughly high-teens-to-20% three-year IRR. The thesis depends on continued project wins providing deposit float, prudent float investment and Chairman Wu’s management culture, whose strong track record spans only six years and faces succession risk.
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