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6880

Hoymiles Power Electronics SHSE:688032 Stock Report

Last Price

CN¥949.90

Market Cap

CN¥53.2b

7D

-4.6%

1Y

n/a

Updated

08 Aug, 2022

Data

Company Financials +
688032 fundamental analysis
Snowflake Score
Valuation0/6
Future Growth5/6
Past Performance4/6
Financial Health6/6
Dividends0/6

688032 Stock Overview

Hoymiles Power Electronics Inc., a microinverter company, offers MLPE (module level power electronics) solutions for global solar investors and end users.

Hoymiles Power Electronics Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Hoymiles Power Electronics
Historical stock prices
Current Share PriceCN¥949.90
52 Week HighCN¥1,065.00
52 Week LowCN¥363.54
Beta0
1 Month Change1.48%
3 Month Change78.37%
1 Year Changen/a
3 Year Changen/a
5 Year Changen/a
Change since IPO83.43%

Recent News & Updates

Shareholder Returns

688032CN ElectricalCN Market
7D-4.6%-2.3%-0.5%
1Yn/a-2.6%-10.4%

Return vs Industry: Insufficient data to determine how 688032 performed against the CN Electrical industry.

Return vs Market: Insufficient data to determine how 688032 performed against the CN Market.

Price Volatility

Is 688032's price volatile compared to industry and market?
688032 volatility
688032 Average Weekly Movement8.8%
Electrical Industry Average Movement7.5%
Market Average Movement6.1%
10% most volatile stocks in CN Market9.2%
10% least volatile stocks in CN Market3.9%

Stable Share Price: 688032 is more volatile than 75% of CN stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: 688032's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of CN stocks.

About the Company

FoundedEmployeesCEOWebsite
2008652n/ahttps://www.hoymiles.com

Hoymiles Power Electronics Inc., a microinverter company, offers MLPE (module level power electronics) solutions for global solar investors and end users. The company offers microinverter, AC module, DTU, storage, and MLPE PV kit products. It offers service network, warranty, training, and system design services.

Hoymiles Power Electronics Fundamentals Summary

How do Hoymiles Power Electronics's earnings and revenue compare to its market cap?
688032 fundamental statistics
Market CapCN¥53.19b
Earnings (TTM)CN¥257.29m
Revenue (TTM)CN¥907.04m

206.8x

P/E Ratio

58.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
688032 income statement (TTM)
RevenueCN¥907.04m
Cost of RevenueCN¥512.68m
Gross ProfitCN¥394.36m
Other ExpensesCN¥137.07m
EarningsCN¥257.29m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)4.59
Gross Margin43.48%
Net Profit Margin28.37%
Debt/Equity Ratio0%

How did 688032 perform over the long term?

See historical performance and comparison

Dividends

0.2%

Current Dividend Yield

38%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 688032 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 688032?

Other financial metrics that can be useful for relative valuation.

688032 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue52.4x
Enterprise Value/EBITDA174.3x
PEG Ratio4.3x

Price to Sales Ratio vs Peers

How does 688032's PS Ratio compare to its peers?

688032 PS Ratio vs Peers
The above table shows the PS ratio for 688032 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average4x
603606 Ningbo Orient Wires & CablesLtd
6.3x24.3%CN¥52.7b
300207 Sunwoda ElectronicLtd
1.2x25.9%CN¥49.3b
688005 Ningbo Ronbay New Energy Technology
4.1x32.5%CN¥57.3b
300073 Beijing Easpring Material TechnologyLTD
4.5x30.7%CN¥48.4b
688032 Hoymiles Power Electronics
58.6x47.9%CN¥53.2b

Price-To-Sales vs Peers: 688032 is expensive based on its Price-To-Sales Ratio (58.6x) compared to the peer average (4x).


Price to Earnings Ratio vs Industry

How does 688032's PE Ratio compare vs other companies in the CN Electrical Industry?

Price-To-Sales vs Industry: 688032 is expensive based on its Price-To-Sales Ratio (58.6x) compared to the CN Electrical industry average (3.3x)


Price to Sales Ratio vs Fair Ratio

What is 688032's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

688032 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio58.6x
Fair PS Ratio21.5x

Price-To-Sales vs Fair Ratio: 688032 is expensive based on its Price-To-Sales Ratio (58.6x) compared to the estimated Fair Price-To-Sales Ratio (21.5x).


Share Price vs Fair Value

What is the Fair Price of 688032 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 688032 (CN¥949.9) is trading above our estimate of fair value (CN¥485.34)

Significantly Below Fair Value: 688032 is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is lower than the current share price.


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Future Growth

How is Hoymiles Power Electronics forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


48.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 688032's forecast earnings growth (48.1% per year) is above the savings rate (3.2%).

Earnings vs Market: 688032's earnings (48.1% per year) are forecast to grow faster than the CN market (24.5% per year).

High Growth Earnings: 688032's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 688032's revenue (47.9% per year) is forecast to grow faster than the CN market (17.8% per year).

High Growth Revenue: 688032's revenue (47.9% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 688032's Return on Equity is forecast to be low in 3 years time (13.2%).


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Past Performance

How has Hoymiles Power Electronics performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


46.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 688032 has a high level of non-cash earnings.

Growing Profit Margin: 688032's current net profit margins (28.4%) are higher than last year (22.7%).


Past Earnings Growth Analysis

Earnings Trend: 688032's earnings have grown significantly by 46.4% per year over the past 5 years.

Accelerating Growth: 688032's earnings growth over the past year (111.5%) exceeds its 5-year average (46.4% per year).

Earnings vs Industry: 688032 earnings growth over the past year (111.5%) exceeded the Electrical industry -1.2%.


Return on Equity

High ROE: 688032's Return on Equity (4.2%) is considered low.


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Financial Health

How is Hoymiles Power Electronics's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 688032's short term assets (CN¥6.3B) exceed its short term liabilities (CN¥355.6M).

Long Term Liabilities: 688032's short term assets (CN¥6.3B) exceed its long term liabilities (CN¥45.3M).


Debt to Equity History and Analysis

Debt Level: 688032 is debt free.

Reducing Debt: 688032 had no debt 5 years ago.

Debt Coverage: 688032 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 688032 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Hoymiles Power Electronics's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.22%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 688032's dividend (0.23%) isn’t notable compared to the bottom 25% of dividend payers in the CN market (0.47%).

High Dividend: 688032's dividend (0.23%) is low compared to the top 25% of dividend payers in the CN market (1.93%).


Stability and Growth of Payments

Stable Dividend: 688032 is not paying a notable dividend for the CN market, therefore no need to check if payments are stable.

Growing Dividend: 688032 is not paying a notable dividend for the CN market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: 688032 is not paying a notable dividend for the CN market.


Cash Payout to Shareholders

Cash Flow Coverage: 688032 is not paying a notable dividend for the CN market.


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Management

How experienced are the management team and are they aligned to shareholders interests?


CEO

Hoymiles Power Electronics has no CEO, or we have no data on them.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: 688032 only recently listed within the past 12 months.


Top Shareholders

Company Information

Hoymiles Power Electronics Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Hoymiles Power Electronics Inc.
  • Ticker: 688032
  • Exchange: SHSE
  • Founded: 2008
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Implied Market Cap: CN¥53.194b
  • Shares outstanding: 56.00m
  • Website: https://www.hoymiles.com

Number of Employees


Location

  • Hoymiles Power Electronics Inc.
  • No.18, Kangjing Road
  • Gongshu District
  • Hangzhou
  • Zhejiang Province
  • 310015
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/08 00:00
End of Day Share Price2022/08/08 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.