Tech Semiconductors Valuation

Q: What is the Fair Price of 300046 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

300046 (CN¥39.05) is trading above our estimate of [[fair value]] (CN¥14.85)

Is 300046 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-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 300046 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 300046 (CN¥39.05) is trading above our estimate of fair value (CN¥14.85)

Significantly Below Fair Value: 300046 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 300046?

Key metric: As 300046 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 300046. This is calculated by dividing 300046's market cap by their current revenue.
What is 300046's PS Ratio?
PS Ratio	28x
Sales	CN¥330.42m
Market Cap	CN¥9.24b

300046 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	25.8x
Enterprise Value/EBITDA	213.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 300046's PS Ratio compare to its peers?

The above table shows the PS ratio for 300046 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	18.1x
300327 Sino Wealth Electronic	6.2x	23.1%	CN¥8.3b
300613 Shanghai Fullhan Microelectronics	5.8x	16.5%	CN¥10.3b
001270 Zhejiang Chengchang Technology	41.9x	40.4%	CN¥9.1b
688107 Shanghai Anlogic Infotech	18.7x	30.6%	CN¥11.3b
300046 Tech Semiconductors	28x	n/a	CN¥9.2b

Price-To-Sales vs Peers: 300046 is expensive based on its Price-To-Sales Ratio (28x) compared to the peer average (18.1x).

Price to Sales Ratio vs Industry

How does 300046's PS Ratio compare vs other companies in the CN Semiconductor Industry?

13 Companies	Price / Sales	Estimated Growth	Market Cap
688223 Jinko Solar	0.8x	11.4%	US$11.61b
002459 JA Solar Technology	0.7x	15.0%	US$7.32b
688599 Trina Solar	0.5x	12.5%	US$6.86b
688472 CSI Solar	1x	18.9%	US$6.36b

13 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 300046 is expensive based on its Price-To-Sales Ratio (28x) compared to the CN Semiconductor industry average (6.8x).

Price to Sales Ratio vs Fair Ratio

What is 300046'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.

300046 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	28x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 300046's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.

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