MUN:OIA

Stock Analysis Report

Executive Summary

AOI Electronics Co., Ltd. manufactures and sells electronic parts in Japan.

Snowflake

Fundamentals

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

How has AOI Electronics's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

5.2%

OIA

8.2%

DE Semiconductor

4.4%

DE Market


1 Year Return

-28.6%

OIA

-4.2%

DE Semiconductor

1.6%

DE Market

Return vs Industry: OIA underperformed the German Semiconductor industry which returned -4.2% over the past year.

Return vs Market: OIA underperformed the German Market which returned 1.6% over the past year.


Shareholder returns

OIAIndustryMarket
7 Day5.2%8.2%4.4%
30 Day16.1%-5.6%0.8%
90 Day11.2%7.1%2.3%
1 Year-26.5%-28.6%-2.6%-4.2%4.8%1.6%
3 Year1.9%-3.7%19.2%15.4%18.9%8.6%
5 Year-43.3%-48.3%109.8%99.3%43.7%24.1%

Price Volatility Vs. Market

How volatile is AOI Electronics's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is AOI Electronics undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: OIA (€19.41) is trading below our estimate of fair value (€40.5)

Significantly Undervalued: OIA is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: OIA is good value based on its PE Ratio (14.9x) compared to the Semiconductor industry average (22.2x).

PE vs Market: OIA is good value based on its PE Ratio (14.9x) compared to the German market (19.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: OIA is poor value based on its PEG Ratio (2.3x)


Price to Book Ratio

PB vs Industry: OIA is good value based on its PB Ratio (0.6x) compared to the DE Semiconductor industry average (2.3x).


Next Steps

Future Growth

How is AOI Electronics forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

6.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OIA's forecast earnings growth (6.5% per year) is above the savings rate (0.2%).

Earnings vs Market: OIA's earnings (6.5% per year) are forecast to grow slower than the German market (12.6% per year).

High Growth Earnings: OIA's earnings are forecast to grow, but not significantly.

Revenue vs Market: OIA's revenue (1.1% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: OIA's revenue (1.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: OIA's Return on Equity is forecast to be low in 3 years time (4.5%).


Next Steps

Past Performance

How has AOI Electronics performed over the past 5 years?

-7.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: OIA's earnings have declined by -7.3% per year over the past 5 years.

Accelerating Growth: OIA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: OIA had negative earnings growth (-52.6%) over the past year, making it difficult to compare to the Semiconductor industry average (20.6%).


Return on Equity

High ROE: OIA's Return on Equity (4.1%) is considered low.


Return on Assets

ROA vs Industry: OIA's Return on Assets is below or equal to the Semiconductor industry average last year.


Return on Capital Employed

ROCE Improving: OIA's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is AOI Electronics's financial position?


Financial Position Analysis

Short Term Liabilities: OIA's short term assets (¥38.8B) exceeds its short term liabilities (¥8.5B)

Long Term Liabilities: OIA's short term assets (38.8B) exceeds its long term liabilities (1.2B)


Debt to Equity History and Analysis

Debt Level: OIA's debt to equity ratio (2.9%) is considered satisfactory

Reducing Debt: OIA's debt to equity ratio has reduced from 7.3% to 2.9% over the past 5 years.

Debt Coverage: OIA's debt is well covered by operating cash flow (544%).

Interest Coverage: OIA earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: OIA has a high level of physical assets or inventory.

Debt Coverage by Assets: OIA's debt is covered by short term assets (assets are 28.245090x debt).


Next Steps

Dividend

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

2.34%

Current Dividend Yield


Dividend Yield vs Market

company2.3%marketbottom25%1.4%markettop25%3.8%industryaverage1.2%forecastin3Years2.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: OIA's dividend (2.34%) is higher than the bottom 25% of dividend payers in the German market (1.45%).

High Dividend: OIA's dividend (2.34%) is low compared to the top 25% of dividend payers in the German market (3.85%).

Stable Dividend: OIA's dividend payments have been volatile in the past 10 years.

Growing Dividend: OIA's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (34.8%), OIA's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of AOI Electronics's salary, the management and board of directors tenure and is there insider trading?

7.3yrs

Average management tenure


CEO

Koji Nakayama (67yo)

10.3yrs

Tenure

0

Mr. Koji Nakayama has been the President of AOI Electronics Co., Ltd. since June 2009 and serves as its Industry of Managing Director generalization technology department General Manager running as well de ...


Management Age and Tenure

7.3yrs

Average Tenure

65yo

Average Age

Experienced Management: OIA's management team is seasoned and experienced (7.3 years average tenure).


Board Age and Tenure

4.3yrs

Average Tenure

67yo

Average Age

Experienced Board: OIA's board of directors are considered experienced (4.3 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Kazuhiro Kinoshita (62yo)

    MD, GM of Administration Division & Representative Director

    • Tenure: 16.3yrs
  • Norio Saeki (66yo)

    GM of 2nd Technical Division & Director

    • Tenure: 10.3yrs
  • Koji Nakayama (67yo)

    President & Representative Director

    • Tenure: 10.3yrs
  • Yoshio Okada (67yo)

    GM of 1st Technical Division & Director

    • Tenure: 10.3yrs
  • Daisuke Takao (63yo)

    GM of Takamatsu 1st Production Division & Director

    • Tenure: 4.3yrs
  • Kazuyuki Fukuda (64yo)

    GM of Takamatsu 2nd Production Division & Director

    • Tenure: 4.3yrs

Board Members

  • Kazuhiro Kinoshita (62yo)

    MD, GM of Administration Division & Representative Director

    • Tenure: 16.3yrs
  • Norio Saeki (66yo)

    GM of 2nd Technical Division & Director

    • Tenure: 10.3yrs
  • Nobuyuki Fujime (75yo)

    Outside Director

    • Tenure: 0.8yrs
  • Koji Nakayama (67yo)

    President & Representative Director

    • Tenure: 10.3yrs
  • Yoshio Okada (67yo)

    GM of 1st Technical Division & Director

    • Tenure: 10.3yrs
  • Kiyoshi Sakai (68yo)

    Outside Director

    • Tenure: 0.8yrs
  • Daisuke Takao (63yo)

    GM of Takamatsu 1st Production Division & Director

    • Tenure: 4.3yrs
  • Kazuyuki Fukuda (64yo)

    GM of Takamatsu 2nd Production Division & Director

    • Tenure: 4.3yrs
  • Shigeki Moriito (72yo)

    Outside Director

    • Tenure: 2.3yrs
  • Akihiro Furuta

    Outside Director

    • Tenure: 0yrs

Company Information

AOI Electronics Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AOI Electronics Co., Ltd.
  • Ticker: OIA
  • Exchange: MUN
  • Founded: 1969
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: JP¥28.738b
  • Listing Market Cap: JP¥239.360m
  • Shares outstanding: 12.00m
  • Website: https://www.aoi-electronics.co.jp

Number of Employees


Location

  • AOI Electronics Co., Ltd.
  • 455-1, Kohzai Minamimachi
  • Takamatsu
  • Kagawa
  • 761-8014
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
6832TSE (The Tokyo Stock Exchange)YesCommon SharesJPJPYAug 2000
OIAMUN (Boerse Muenchen)YesCommon SharesDEEURAug 2000

Biography

AOI Electronics Co., Ltd. manufactures and sells electronic parts in Japan. It offers integrated circuits, modules, thick film thermal print heads, chip resistor networks, and micro electro mechanical syst ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 20:37
End of Day Share Price2019/10/15 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


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.