Even With A 31% Surge, Cautious Investors Are Not Rewarding Wan Hai Lines Ltd.'s (TWSE:2615) Performance Completely
Sep 26
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Taiwanese (TAIEX) Market Analysis & Valuation
UpdatedSep 27, 2024
DataAggregated Company Financials
Companies2181
- 7D3.4%
- 3M-0.8%
- 1Y38.1%
- YTD26.4%
The market has climbed 3.4% in the last 7 days, lead by the Information Technology sector with a gain of 4.6%. In contrast, the Real Estate sector is lagging, dropping 7.8%. The market is up 38% over the last 12 months. As for the next few years, earnings are expected to grow by 18% per annum.
Market Valuation and Performance
Has the Taiwanese Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 27 Sep 2024 | NT$80.7t | NT$42.9t | NT$3.5t | 21.6x | 23.2x | 1.9x |
| Sun, 25 Aug 2024 | NT$78.3t | NT$42.9t | NT$3.4t | 21.4x | 22.9x | 1.8x |
| Tue, 23 Jul 2024 | NT$78.5t | NT$41.6t | NT$3.3t | 22.7x | 24.1x | 1.9x |
| Thu, 20 Jun 2024 | NT$81.5t | NT$41.4t | NT$3.2t | 22.7x | 25.5x | 2x |
| Sat, 18 May 2024 | NT$74.7t | NT$41.5t | NT$3.1t | 22.7x | 24.3x | 1.8x |
| Mon, 15 Apr 2024 | NT$73.2t | NT$41.1t | NT$2.9t | 23.6x | 25.1x | 1.8x |
| Wed, 13 Mar 2024 | NT$70.2t | NT$41.2t | NT$2.8t | 22.4x | 25x | 1.7x |
| Fri, 09 Feb 2024 | NT$63.9t | NT$41.2t | NT$2.8t | 21.2x | 23.2x | 1.6x |
| Sun, 07 Jan 2024 | NT$61.8t | NT$41.2t | NT$2.8t | 21.1x | 21.9x | 1.5x |
| Tue, 05 Dec 2023 | NT$61.5t | NT$41.0t | NT$2.8t | 21.3x | 21.9x | 1.5x |
| Thu, 02 Nov 2023 | NT$56.6t | NT$41.8t | NT$3.0t | 18.7x | 19.2x | 1.4x |
| Sat, 30 Sep 2023 | NT$57.6t | NT$42.0t | NT$3.1t | 19.4x | 18.8x | 1.4x |
| Mon, 28 Aug 2023 | NT$57.7t | NT$41.8t | NT$3.0t | 19.2x | 19x | 1.4x |
| Wed, 26 Jul 2023 | NT$60.3t | NT$43.0t | NT$3.3t | 19.1x | 18x | 1.4x |
| Fri, 23 Jun 2023 | NT$60.3t | NT$42.9t | NT$3.4t | 18.8x | 17.6x | 1.4x |
| Sun, 21 May 2023 | NT$56.7t | NT$43.2t | NT$3.7t | 17x | 15.4x | 1.3x |
| Tue, 18 Apr 2023 | NT$56.3t | NT$43.3t | NT$4.0t | 16.9x | 14.2x | 1.3x |
| Thu, 16 Mar 2023 | NT$53.9t | NT$44.0t | NT$4.4t | 14.9x | 12.3x | 1.2x |
| Sat, 11 Feb 2023 | NT$54.4t | NT$44.3t | NT$4.6t | 14.1x | 11.9x | 1.2x |
| Mon, 09 Jan 2023 | NT$50.3t | NT$44.2t | NT$4.5t | 13.3x | 11.2x | 1.1x |
| Wed, 07 Dec 2022 | NT$51.3t | NT$44.1t | NT$4.5t | 13.5x | 11.4x | 1.2x |
| Fri, 04 Nov 2022 | NT$45.7t | NT$44.3t | NT$4.7t | 13.1x | 9.8x | 1x |
| Sun, 02 Oct 2022 | NT$47.9t | NT$43.9t | NT$4.5t | 13.5x | 10.6x | 1.1x |
| Tue, 30 Aug 2022 | NT$52.2t | NT$44.4t | NT$4.6t | 14.6x | 11.4x | 1.2x |
| Thu, 28 Jul 2022 | NT$51.8t | NT$43.7t | NT$4.6t | 14.4x | 11.3x | 1.2x |
| Sat, 25 Jun 2022 | NT$52.8t | NT$43.5t | NT$4.5t | 14.5x | 11.8x | 1.2x |
| Mon, 23 May 2022 | NT$55.8t | NT$43.8t | NT$4.5t | 15x | 12.3x | 1.3x |
| Wed, 20 Apr 2022 | NT$58.7t | NT$42.7t | NT$4.4t | 16.3x | 13.4x | 1.4x |
| Fri, 18 Mar 2022 | NT$60.4t | NT$42.6t | NT$4.2t | 16.5x | 14.2x | 1.4x |
| Sun, 13 Feb 2022 | NT$63.2t | NT$42.1t | NT$4.1t | 17.2x | 15.5x | 1.5x |
| Tue, 11 Jan 2022 | NT$63.1t | NT$41.9t | NT$4.0t | 17.2x | 15.8x | 1.5x |
| Thu, 09 Dec 2021 | NT$61.8t | NT$41.8t | NT$4.0t | 17x | 15.5x | 1.5x |
| Sat, 06 Nov 2021 | NT$59.4t | NT$40.9t | NT$3.7t | 16.7x | 16.2x | 1.5x |
| Mon, 04 Oct 2021 | NT$56.8t | NT$40.7t | NT$3.6t | 16.1x | 15.9x | 1.4x |
Price to Earnings Ratio
15.9x
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 23.2x which is higher than its 3-year average PE of 16.9x.
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 | 3.44% | |
| Tech | 4.58% | |
| Telecom | 3.37% | |
| Industrials | 3.36% | |
| Financials | 2.42% | |
| Utilities | 1.85% | |
| Consumer Discretionary | 1.14% | |
| Consumer Staples | 1.09% | |
| Materials | 0.89% | |
| Information Technology | 0% | |
| Financials | 0% | |
| Health Care | 0% | |
| Industrials | 0% | |
| Energy | -1.36% | |
| Healthcare | -1.93% | |
| Real Estate | -7.82% | |
Sector PE
- Investors favour the Healthcare sector the most for future growth, which is trading above its 3-year average PE ratio of 163x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 54.9%, which is higher than its past year's earnings growth of 4.6% per year.
- The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 14.3x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 101% over the next 5 years.
- This is better than its past earnings growth rate of 65% per year.
- In contrast, the Financials industry is expected to see its earnings growth to stay flat 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$1.00k | 2.8% +NT$700.2b | 91.2% | PE28.1x | Tech | |
| 2454 MediaTek | NT$1.27k | 12.4% +NT$222.8b | 72.1% | PE19.9x | Tech | |
| 2317 Hon Hai Precision Industry | NT$191.50 | 8.2% +NT$201.0b | 84.1% | PE17.3x | Tech | |
| 2382 Quanta Computer | NT$278.50 | 10.3% +NT$100.2b | 16.3% | PE21.4x | Tech | |
| 2615 Wan Hai Lines | NT$107.50 | 32.6% +NT$74.1b | 122.6% | PE20.3x | Industrials |
