Tongfu MicroelectronicsLtd Valuation

Q: What is the Fair Price of 2156 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

002156 (CN¥20.98) is trading above our estimate of [[fair value]] (CN¥2.8)

Is 2156 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2156 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002156 (CN¥20.98) is trading above our estimate of fair value (CN¥2.8)

Significantly Below Fair Value: 002156 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2156?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 2156. This is calculated by dividing 2156's market cap by their current preferred multiple.
What is 2156's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	CN¥31.78b

2156 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/Revenue	1.9x
Enterprise Value/EBITDA	9.1x
PEG Ratio	2.3x

Price to Earnings Ratio vs Peers

How does 2156's PE Ratio compare to its peers?

The above table shows the PE ratio for 2156 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	63.5x
688375 Guobo Electronics	48x	29.9%	CN¥29.3b
300661 SG Micro	118.5x	41.1%	CN¥36.2b
688249 Nexchip Semiconductor	46.6x	28.8%	CN¥29.0b
688099 Amlogic (Shanghai)Ltd	40.9x	33.3%	CN¥24.3b
002156 Tongfu MicroelectronicsLtd	120.6x	51.8%	CN¥31.8b

Price-To-Earnings vs Peers: 002156 is expensive based on its Price-To-Earnings Ratio (120.6x) compared to the peer average (63.5x).

Price to Earnings Ratio vs Industry

How does 2156's PE Ratio compare vs other companies in the CN Semiconductor Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	38.7%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	38.7%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: 002156 is expensive based on its Price-To-Earnings Ratio (120.6x) compared to the CN Semiconductor industry average (51.4x).

Price to Earnings Ratio vs Fair Ratio

What is 2156's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2156 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	120.6x
Fair PE Ratio	55.3x

Price-To-Earnings vs Fair Ratio: 002156 is expensive based on its Price-To-Earnings Ratio (120.6x) compared to the estimated Fair Price-To-Earnings Ratio (55.3x).

Analyst Price Targets

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

The above table shows the analyst 2156 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CN¥20.98	CN¥24.90 +18.7%	11.0%	CN¥30.00	CN¥21.60	n/a	8
Apr ’25	CN¥22.69	CN¥24.62 +8.5%	12.8%	CN¥30.00	CN¥21.60	n/a	8
Mar ’25	CN¥22.89	CN¥23.63 +3.3%	9.0%	CN¥27.60	CN¥21.60	n/a	7
Feb ’25	CN¥18.68	CN¥23.63 +26.5%	9.0%	CN¥27.60	CN¥21.60	n/a	7
Jan ’25	CN¥23.12	CN¥24.11 +4.3%	8.0%	CN¥26.62	CN¥21.60	n/a	7
Dec ’24	CN¥22.46	CN¥24.11 +7.4%	8.0%	CN¥26.62	CN¥21.60	n/a	7
Nov ’24	CN¥20.40	CN¥23.03 +12.9%	10.6%	CN¥26.62	CN¥20.00	n/a	7
Oct ’24	CN¥19.17	CN¥23.22 +21.1%	10.7%	CN¥27.00	CN¥20.00	n/a	7
Sep ’24	CN¥20.02	CN¥23.80 +18.9%	14.7%	CN¥28.50	CN¥20.00	n/a	8
Aug ’24	CN¥21.83	CN¥24.27 +11.2%	16.2%	CN¥30.00	CN¥20.00	n/a	8
Jul ’24	CN¥22.60	CN¥22.94 +1.5%	25.5%	CN¥30.00	CN¥11.80	n/a	8
Jun ’24	CN¥24.38	CN¥22.94 -5.9%	25.5%	CN¥30.00	CN¥11.80	n/a	8
May ’24	CN¥17.89	CN¥20.27 +13.3%	32.2%	CN¥30.00	CN¥11.00	CN¥20.98	8
Apr ’24	CN¥22.20	CN¥18.00 -18.9%	33.1%	CN¥30.00	CN¥11.00	CN¥22.69	7
Mar ’24	CN¥23.08	CN¥17.29 -25.1%	22.2%	CN¥22.00	CN¥11.00	CN¥22.89	8
Feb ’24	CN¥19.29	CN¥17.19 -10.9%	21.8%	CN¥22.00	CN¥11.00	CN¥18.68	8
Jan ’24	CN¥16.48	CN¥17.19 +4.3%	21.8%	CN¥22.00	CN¥11.00	CN¥23.12	8
Dec ’23	CN¥17.51	CN¥17.19 -1.8%	21.8%	CN¥22.00	CN¥11.00	CN¥22.46	8
Nov ’23	CN¥19.14	CN¥17.19 -10.2%	21.8%	CN¥22.00	CN¥11.00	CN¥20.40	8
Oct ’23	CN¥15.08	CN¥18.80 +24.7%	13.7%	CN¥22.00	CN¥14.40	CN¥19.17	6
Sep ’23	CN¥17.74	CN¥19.90 +12.2%	15.8%	CN¥24.60	CN¥14.40	CN¥20.02	6
Aug ’23	CN¥16.32	CN¥18.45 +13.1%	19.0%	CN¥24.60	CN¥14.10	CN¥21.83	6
Jul ’23	CN¥15.18	CN¥18.15 +19.6%	16.5%	CN¥22.80	CN¥14.10	CN¥22.60	6
Jun ’23	CN¥13.94	CN¥21.48 +54.1%	38.6%	CN¥39.00	CN¥15.10	CN¥24.38	6
May ’23	CN¥13.27	CN¥21.48 +61.9%	38.6%	CN¥39.00	CN¥15.10	CN¥17.89	6

Analyst Forecast: Target price is less than 20% higher than the current share price.