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Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. This ratio does not apply to banks.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. This ratio does not apply to banks.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, China Bills Finance's Enterprise Value is NT$22,023 Mil.
China Bills Finance's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 was NT$2,975 Mil. Therefore, China Bills Finance's EV-to-Revenue ratio for today is 7.40.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
China Bills Finance (TPE:2820) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
China Bills Finance's current Enterprise Value is NT$22,023 Mil.
China Bills Finance's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was NT$2,975 Mil.
China Bills Finance's current Enterprise Value is NT$22,023 Mil.
China Bills Finance's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was NT$-8,295 Mil.
China Bills Finance's current Enterprise Value is NT$22,023 Mil.
China Bills Finance's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was NT$-8,303 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
China Bills Finance Enterprise Value Related Terms
China Bills Finance Enterprise Value Historical Data
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The historical data trend for China Bills Finance's Enterprise Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TPE:2820 vs MS, GS, SCHW: Enterprise Value Comparison
For the Capital Markets subindustry, China Bills Finance's Enterprise Value, along with its competitors' market caps and Enterprise Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
China Bills Finance Enterprise Value vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, China Bills Finance's Enterprise Value distribution charts can be found below:
* The bar in red indicates where China Bills Finance's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
China Bills Finance's Enterprise Value for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Enterprise Value of NT$22,023 Mil mean?
China Bills Finance (TPE:2820) has a Enterprise Value of NT$22,023 Mil as of Jul. 17, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on China Bills Finance and its competitors.
Is China Bills Finance's Enterprise Value too high?
China Bills Finance's current Enterprise Value is NT$22,023 Mil. Overall, China Bills Finance has a GF Score™ of 62/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Bills Finance's Enterprise Value compare to MS and GS?
China Bills Finance's Enterprise Value of NT$22,023 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for a Capital Markets company?
A good Enterprise Value depends on the Capital Markets industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on China Bills Finance and its competitors. China Bills Finance's current Enterprise Value is NT$22,023 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Bills Finance stock overvalued right now?
Based on GuruFocus' analysis, China Bills Finance (TPE:2820) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$24.46, compared to a current price of NT$16.65 — trading 31.9% below its estimated fair value. The current Enterprise Value is NT$22,023 Mil. China Bills Finance's overall GF Score™ is 62/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For China Bills Finance (TPE:2820), the current Enterprise Value is NT$22,023 Mil as of Jul. 17, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is China Bills Finance (TPE:2820) Overvalued in 2026?
Based on GuruFocus' analysis, China Bills Finance stock appears to be undervalued.
The current stock price of NT$16.65 is trading 31.9% below its estimated GF Value™ of NT$24.46.
GuruFocus considers China Bills Finance to be Significantly Undervalued.
Key valuation signals for TPE:2820:
Enterprise Value: NT$22,023 Mil
GF Value™: NT$24.46 vs. price of NT$16.65 (31.9% below fair value)
No single metric tells the full story. See the TPE:2820 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Bills Finance Corp focuses on corporate financing and fixed-income commodities. The company's business activities consist of certifying and underwriting of short-term bills and bank debentures; brokering or undertaking proprietary trading of short-term bills, bank debentures, government and corporate bonds, and foreign bonds; guaranteeing short-term bills; providing financial consulting services to enterprises; processing interbank call loans; equity investments; fixed-income security trading; (h) foreign-currency bills investment; and doing other businesses as authorized by relevant authorities. Its business is concentrated in Taiwan.
62GF Score
Get the complete analysis for TPE:2820
Enterprise Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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