Returns At Shihlin Electric & Engineering (TWSE:1503) Appear To Be Weighed Down
Apr 27
Taiwanese (TAIEX) Market Analysis & Valuation
UpdatedApr 27, 2024
DataAggregated Company Financials
Companies2162
- 7D2.8%
- 3M11.0%
- 1Y27.4%
- YTD11.9%
Over the last 7 days, the market has dropped 2.3%, driven by a pullback of 3.6% in the Information Technology sector. As for the longer term, the market has actually risen by 27% in the last year. Looking forward, earnings are forecast to grow by 20% annually.
Market Valuation and Performance
Has the Taiwanese Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 27 Apr 2024 | NT$70.9t | NT$41.1t | NT$2.9t | 23.2x | 24.2x | 1.7x |
| Mon, 25 Mar 2024 | NT$71.3t | NT$41.0t | NT$2.9t | 22.7x | 24.5x | 1.7x |
| Wed, 21 Feb 2024 | NT$65.9t | NT$41.2t | NT$2.8t | 21.7x | 23.8x | 1.6x |
| Fri, 19 Jan 2024 | NT$60.8t | NT$41.2t | NT$2.8t | 20.6x | 21.6x | 1.5x |
| Sun, 17 Dec 2023 | NT$62.3t | NT$41.2t | NT$2.8t | 21.2x | 22.1x | 1.5x |
| Tue, 14 Nov 2023 | NT$58.8t | NT$41.6t | NT$2.9t | 19.4x | 20.1x | 1.4x |
| Thu, 12 Oct 2023 | NT$58.6t | NT$42.0t | NT$3.1t | 19.2x | 19.2x | 1.4x |
| Sat, 09 Sep 2023 | NT$58.2t | NT$41.8t | NT$3.1t | 19.5x | 19.1x | 1.4x |
| Mon, 07 Aug 2023 | NT$59.1t | NT$42.7t | NT$3.2t | 18.9x | 18.2x | 1.4x |
| Wed, 05 Jul 2023 | NT$60.3t | NT$43.0t | NT$3.4t | 19x | 17.6x | 1.4x |
| Fri, 02 Jun 2023 | NT$58.0t | NT$42.9t | NT$3.5t | 17.9x | 16.7x | 1.4x |
| Sun, 30 Apr 2023 | NT$54.9t | NT$43.3t | NT$4.0t | 16.7x | 13.9x | 1.3x |
| Tue, 28 Mar 2023 | NT$55.5t | NT$43.2t | NT$4.0t | 15.7x | 13.8x | 1.3x |
| Thu, 23 Feb 2023 | NT$54.1t | NT$44.3t | NT$4.5t | 14.7x | 11.9x | 1.2x |
| Sat, 21 Jan 2023 | NT$52.0t | NT$44.4t | NT$4.6t | 13.4x | 11.3x | 1.2x |
| Mon, 19 Dec 2022 | NT$50.7t | NT$44.2t | NT$4.5t | 13.4x | 11.3x | 1.1x |
| Wed, 16 Nov 2022 | NT$50.5t | NT$44.8t | NT$4.5t | 13.2x | 11.1x | 1.1x |
| Fri, 14 Oct 2022 | NT$44.6t | NT$43.9t | NT$4.5t | 12.8x | 9.8x | 1x |
| Sun, 11 Sep 2022 | NT$51.1t | NT$43.9t | NT$4.5t | 14.5x | 11.3x | 1.2x |
| Tue, 09 Aug 2022 | NT$52.1t | NT$44.2t | NT$4.7t | 14.4x | 11.2x | 1.2x |
| Thu, 07 Jul 2022 | NT$48.2t | NT$43.5t | NT$4.5t | 13.7x | 10.8x | 1.1x |
| Sat, 04 Jun 2022 | NT$57.2t | NT$43.0t | NT$4.5t | 15.3x | 12.8x | 1.3x |
| Mon, 02 May 2022 | NT$57.2t | NT$42.8t | NT$4.4t | 15.9x | 13x | 1.3x |
| Wed, 30 Mar 2022 | NT$60.7t | NT$41.9t | NT$4.3t | 16.6x | 14.1x | 1.4x |
| Fri, 25 Feb 2022 | NT$60.9t | NT$42.2t | NT$4.1t | 16.8x | 14.9x | 1.4x |
| Sun, 23 Jan 2022 | NT$61.8t | NT$41.9t | NT$4.0t | 16.9x | 15.5x | 1.5x |
| Tue, 21 Dec 2021 | NT$61.2t | NT$41.8t | NT$4.0t | 17x | 15.4x | 1.5x |
| Thu, 18 Nov 2021 | NT$61.2t | NT$42.0t | NT$4.0t | 16.8x | 15.4x | 1.5x |
| Sat, 16 Oct 2021 | NT$57.3t | NT$40.8t | NT$3.6t | 16x | 15.9x | 1.4x |
| Mon, 13 Sep 2021 | NT$59.6t | NT$40.7t | NT$3.6t | 16.6x | 16.7x | 1.5x |
| Wed, 11 Aug 2021 | NT$58.8t | NT$40.7t | NT$3.6t | 16.9x | 16.4x | 1.4x |
| Sun, 06 Jun 2021 | NT$57.9t | NT$39.1t | NT$3.1t | 17.2x | 18.7x | 1.5x |
Price to Earnings Ratio
19.3x
Current Market PE
- Investors are optimistic on the Taiwanese market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 23.9x which is higher than its 3-year average PE of 16.0x.
Past Earnings Growth
- Both revenue and earnings for Taiwanese listed companies have remained mostly flat over the last three years.
- This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.
Sector Trends
Which sectors have driven the changes within the Taiwanese Market?
| TW Market | 2.84% | |
| Real Estate | 6.43% | |
| Tech | 3.39% | |
| Consumer Discretionary | 3.32% | |
| Energy | 2.74% | |
| Healthcare | 2.40% | |
| Industrials | 1.75% | |
| Financials | 1.71% | |
| Consumer Staples | 1.32% | |
| Materials | 0.98% | |
| Telecom | 0.72% | |
| Utilities | -2.34% | |
Sector PE
- Investors favour the Healthcare sector the most for future growth, which is trading above its 3-year average PE ratio of 124x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 54.7% which is higher than its past year's earnings decline of 12.3% per year.
- The Financials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 13.6x.
Forecasted Growth
- Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 55% over the next 5 years.
- This is better than its past earnings decline of 12% per year.
- In contrast, the Telecom sector is expected to see its earnings grow by 6.4% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| 2330 Taiwan Semiconductor Manufacturing | NT$782.00 | 4.3% +NT$829.9b | 55.8% | PE23.7x | Tech | |
| 2317 Hon Hai Precision Industry | NT$155.00 | 8.4% +NT$166.3b | 48.3% | PE15.1x | Tech | |
| 2382 Quanta Computer | NT$257.50 | 6.6% +NT$61.7b | 199.8% | PE25x | Tech | |
| 2308 Delta Electronics | NT$315.00 | 5.5% +NT$42.9b | 5.0% | PE24.5x | Tech | |
| 2881 Fubon Financial Holding | NT$67.60 | 4.0% +NT$33.8b | 20.3% | PE14.1x | Financials |
