Loading...

AU Optronics

DB:AU7A
Snowflake Description

Excellent balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AU7A
DB
NT$108B
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

AU Optronics Corp. researches, develops, produces, and sells thin film transistor liquid crystal displays and other flat panel displays. The last earnings update was 22 days ago. More info.


Add to Portfolio Compare Print
AU7A Share Price and Events
7 Day Returns
-0.6%
DB:AU7A
1.6%
DE Electronic
1.8%
DE Market
1 Year Returns
0%
DB:AU7A
-0.1%
DE Electronic
-6%
DE Market
AU7A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AU Optronics (AU7A) -0.6% 2.2% -8.6% 0% 27.4% 20.8%
DE Electronic 1.6% 5.3% 20.4% -0.1% 98.5% 105%
DE Market 1.8% 4.2% 7.4% -6% 10.1% 15.4%
1 Year Return vs Industry and Market
  • AU7A outperformed the Market in Germany which returned -6% over the past year.
Price Volatility
AU7A
Industry
5yr Volatility vs Market

Value

 Is AU Optronics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AU Optronics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for AU Optronics.

DB:AU7A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:AU7A
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.067 (1 + (1- 20%) (80.22%))
1.504
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.5
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.504 * 5.96%)
9.19%

Discounted Cash Flow Calculation for DB:AU7A using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for AU Optronics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:AU7A DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (TWD, Millions) Source Present Value
Discounted (@ 9.19%)
2019 -16,451.00 Analyst x4 -15,066.06
2020 -3,064.00 Analyst x3 -2,569.82
2021 4,837.50 Analyst x2 3,715.72
2022 6,190.22 Est @ 27.96% 4,354.47
2023 7,406.15 Est @ 19.64% 4,771.22
2024 8,429.55 Est @ 13.82% 4,973.34
2025 9,250.69 Est @ 9.74% 4,998.34
2026 9,887.81 Est @ 6.89% 4,892.81
2027 10,371.27 Est @ 4.89% 4,700.00
2028 10,733.33 Est @ 3.49% 4,454.59
Present value of next 10 years cash flows NT$19,224.61
DB:AU7A DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= NT$10,733.33 × (1 + 0.23%) ÷ (9.19% – 0.23%)
NT$120,004.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NT$120,004.98 ÷ (1 + 9.19%)10
NT$49,804.96
DB:AU7A Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NT$19,224.61 + NT$49,804.96
NT$69,029.57
Equity Value per Share
(TWD)
= Total value / Shares Outstanding
= NT$69,029.57 / 9,624.25
NT$7.17
DB:AU7A Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:AU7A represents 0.29333x of TSEC:2409
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.29333x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (TWD) x Listing Adjustment Factor
= NT$ 7.17 x 0.29333
€2.10
Value per share (EUR) From above. €2.10
Current discount Discount to share price of €3.30
= -1 x (€3.30 - €2.10) / €2.10
-56.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of AU Optronics is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AU Optronics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AU Optronics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AU7A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in TWD NT$1.36
TSEC:2409 Share Price ** TSEC (2019-04-18) in TWD NT$11.25
Germany Electronic Industry PE Ratio Median Figure of 13 Publicly-Listed Electronic Companies 23.37x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.59x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AU Optronics.

DB:AU7A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSEC:2409 Share Price ÷ EPS (both in TWD)

= 11.25 ÷ 1.36

8.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AU Optronics is good value based on earnings compared to the DE Electronic industry average.
  • AU Optronics is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does AU Optronics's expected growth come at a high price?
Raw Data
DB:AU7A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
-91.4%per year
Germany Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.1x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

DB:AU7A PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.28x ÷ -91.4%

-0.09x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AU Optronics earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on AU Optronics's assets?
Raw Data
DB:AU7A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in TWD NT$20.09
TSEC:2409 Share Price * TSEC (2019-04-18) in TWD NT$11.25
Germany Electronic Industry PB Ratio Median Figure of 19 Publicly-Listed Electronic Companies 2.57x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.84x
DB:AU7A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSEC:2409 Share Price ÷ Book Value per Share (both in TWD)

= 11.25 ÷ 20.09

0.56x

* Primary Listing of AU Optronics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AU Optronics is good value based on assets compared to the DE Electronic industry average.
X
Value checks
We assess AU Optronics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
  5. AU Optronics has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is AU Optronics expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-91.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AU Optronics expected to grow at an attractive rate?
  • AU Optronics's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • AU Optronics's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • AU Optronics's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AU7A Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AU7A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts -91.4%
DB:AU7A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts -5.7%
Germany Electronic Industry Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Electronic Industry Revenue Growth Rate Market Cap Weighted Average 7.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:AU7A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AU7A Future Estimates Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 257,775 36,996 -7,695 3
2020-12-31 275,918 36,321 -2,465 10
2019-12-31 289,637 31,538 -6,818 15
DB:AU7A Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2018-12-31 307,634 40,201 13,072
2018-09-30 311,205 50,160 24,325
2018-06-30 317,558 60,479 28,862
2018-03-31 326,916 75,541 37,440
2017-12-31 341,028 84,363 42,610
2017-09-30 352,210 79,576 39,282
2017-06-30 350,832 63,784 35,324
2017-03-31 346,511 46,751 24,922
2016-12-31 329,089 36,696 9,965
2016-09-30 320,686 44,104 -7,023
2016-06-30 323,967 48,171 -8,458
2016-03-31 336,180 56,776 -3,391

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AU Optronics's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • AU Optronics's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:AU7A Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from AU Optronics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AU7A Future Estimates Data
Date (Data in TWD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 -0.79 1.48 -3.30 3.00
2020-12-31 -0.48 0.52 -3.28 10.00
2019-12-31 -0.71 -0.02 -2.18 12.00
DB:AU7A Past Financials Data
Date (Data in TWD Millions) EPS *
2018-12-31 1.36
2018-09-30 2.53
2018-06-30 3.00
2018-03-31 3.89
2017-12-31 4.43
2017-09-30 4.08
2017-06-30 3.67
2017-03-31 2.59
2016-12-31 1.04
2016-09-30 -0.73
2016-06-30 -0.88
2016-03-31 -0.35

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if AU Optronics will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess AU Optronics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AU Optronics has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has AU Optronics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AU Optronics's growth in the last year to its industry (Electronic).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AU Optronics has delivered over 20% year on year earnings growth in the past 5 years.
  • AU Optronics's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • AU Optronics's 1-year earnings growth is negative, it can't be compared to the DE Electronic industry average.
Earnings and Revenue History
AU Optronics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AU Optronics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AU7A Past Revenue, Cash Flow and Net Income Data
Date (Data in TWD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 307,634.39 13,071.65 11,924.78 9,546.86
2018-09-30 311,204.65 24,324.54 11,928.88 9,478.40
2018-06-30 317,557.56 28,862.14 11,946.32 9,458.10
2018-03-31 326,916.00 37,439.79 11,996.61 9,678.57
2017-12-31 341,028.27 42,609.50 12,047.91 9,854.71
2017-09-30 352,210.23 39,281.57 12,254.02 9,844.43
2017-06-30 350,832.12 35,323.84 12,470.41 9,607.20
2017-03-31 346,510.62 24,921.65 12,729.22 9,352.25
2016-12-31 329,089.04 9,965.13 13,071.77 9,080.79
2016-09-30 320,685.54 -7,023.15 13,485.05 8,658.13
2016-06-30 323,967.21 -8,458.16 13,669.59 8,679.46
2016-03-31 336,179.79 -3,390.82 13,570.58 8,836.42
2015-12-31 360,346.49 7,242.17 13,412.09 8,903.82
2015-09-30 382,352.95 17,856.03 14,093.90 9,359.72
2015-06-30 399,940.46 21,725.23 14,749.84 9,551.31
2015-03-31 409,679.04 21,262.83 16,042.00 9,461.69
2014-12-31 408,178.75 16,366.63 17,188.17 9,156.66
2014-09-30 405,433.42 12,564.68 17,481.24 8,647.03
2014-06-30 405,627.70 7,722.34 17,984.26 8,433.79
2014-03-31 415,920.47 7,613.31 17,640.62 8,377.77
2013-12-31 416,363.01 3,804.14 17,161.09 8,530.46
2013-09-30 413,060.01 -5,597.24 16,444.33 9,243.60
2013-06-30 408,759.76 -24,476.42 15,424.11 9,452.95
2013-03-31 391,613.46 -40,910.50 15,355.20 9,719.75
2012-12-31 378,470.94 -51,327.07 15,581.12 9,904.30
2012-09-30 368,576.05 -63,165.42 16,410.16 9,698.99
2012-06-30 364,722.63 -62,586.29 18,264.49 9,439.28

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • AU Optronics has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • AU Optronics used its assets less efficiently than the DE Electronic industry average last year based on Return on Assets.
  • AU Optronics's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess AU Optronics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AU Optronics has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is AU Optronics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up AU Optronics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AU Optronics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • AU Optronics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of AU Optronics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AU Optronics Company Filings, last reported 3 months ago.

DB:AU7A Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 207,785.31 86,851.79 72,262.52
2018-09-30 217,275.05 88,825.15 66,456.44
2018-06-30 215,454.37 94,405.49 83,844.70
2018-03-31 230,271.28 108,187.11 97,862.91
2017-12-31 212,817.85 114,032.39 105,418.86
2017-09-30 220,316.53 123,069.49 107,859.97
2017-06-30 211,145.17 124,707.55 103,048.38
2017-03-31 205,650.30 123,439.18 85,758.39
2016-12-31 176,836.31 124,792.88 80,467.50
2016-09-30 192,309.27 127,358.33 74,278.13
2016-06-30 191,309.67 117,347.40 73,669.83
2016-03-31 197,357.53 108,324.69 75,076.08
2015-12-31 180,661.07 109,249.62 89,629.79
2015-09-30 214,106.50 119,111.87 92,540.86
2015-06-30 203,059.73 130,140.09 98,193.37
2015-03-31 204,844.93 131,355.10 81,017.90
2014-12-31 173,986.93 142,694.87 84,380.67
2014-09-30 188,765.76 151,738.55 78,029.15
2014-06-30 180,457.60 169,112.98 77,107.66
2014-03-31 179,013.38 177,219.28 74,178.37
2013-12-31 178,345.87 184,725.23 78,644.86
2013-09-30 176,478.38 194,041.57 72,943.98
2013-06-30 174,590.28 208,181.88 80,823.33
2013-03-31 159,980.91 216,511.53 67,397.58
2012-12-31 136,148.80 223,185.09 77,742.55
2012-09-30 176,169.82 239,344.20 78,092.06
2012-06-30 196,101.62 253,279.29 86,524.19
  • AU Optronics's level of debt (41.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (103.5% vs 41.8% today).
  • Debt is well covered by operating cash flow (46.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.9x coverage).
X
Financial health checks
We assess AU Optronics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AU Optronics has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is AU Optronics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.44%
Current annual income from AU Optronics dividends. Estimated to be 0.97% next year.
If you bought €2,000 of AU Optronics shares you are expected to receive €89 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • AU Optronics's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • AU Optronics's dividend is above the markets top 25% of dividend payers in Germany (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:AU7A Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
Germany Electronic Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 1.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:AU7A Future Dividends Estimate Data
Date (Data in NT$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.17 4.00
2020-12-31 0.10 10.00
2019-12-31 0.10 11.00
DB:AU7A Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2019-03-29 0.500 4.399
2019-02-26 0.500 4.364
2019-02-25 0.500 4.515
2018-03-29 1.500 11.967
2018-02-27 1.500 11.137
2018-02-26 1.500 11.386
2017-06-15 0.560 4.451
2016-03-21 0.350 3.093
2016-02-19 0.350 3.773
2016-01-28 0.350 4.085
2015-05-14 0.500 4.750
2015-03-24 0.500 3.238
2015-02-13 0.500 3.139
2014-11-14 0.150 0.936
2014-03-21 0.150 1.190
2013-02-18 0.000 0.000
2012-10-31 0.000 0.000
2012-10-30 0.000 0.000
2012-08-30 0.000 0.000
2012-07-25 0.000 0.000
2012-04-30 0.000 0.000
2012-04-27 0.000 0.000
2011-05-03 0.400 2.651
2009-06-05 0.291 0.895
2009-04-30 0.291 0.854
2009-04-21 0.291 0.887

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of AU Optronics's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • The company is expected to pay a dividend in 3 years whilst incurring a loss, therefore the dividend is not expected to be well covered.
X
Income/ dividend checks
We assess AU Optronics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AU Optronics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AU Optronics has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Paul Peng
AGE 59
TENURE AS CEO 3.4 years
CEO Bio

Mr. Shuang-Lang Peng, also known as Paul, has been the Chief Executive Officer of AU Optronics Corp. since November 1, 2015. Mr. Peng served as the President of AU Optronics Corp. since January 1, 2012 until October 31, 2015. Mr. Peng served as President of Display Business Operation at AU Optronics Corp. since January 1, 2012. Mr. Peng oversees the TV Business Group and IT Display Business Group. He served as an Executive Vice President of Display Business Operation at AU Optronics Corp. since 2008. He served as an Executive Vice President of Global Business at AU Optronics Corp. since April 2008. He serves as a Director of AUO Crystal Corp. He served as General Manager of the TV Business Group and Information Technology Display Business Group at AU Optronics Corp. and its Senior Vice President since 2007 until March 2008. He was Head of IT Display Business Group at Au Optronics Corp. since December 1, 2005 and served as its Vice President from 1998 to 2007. He oversaw the Desktop Display, Notebook PC Display and General Display business units. Since 2002, Mr. Peng was the General Manager of AUO's SuZhou module plant from 2002 to 2004 where he successfully and efficiently set up the plant. Prior to joining AUO, he worked as Manager of material and production department at BenQ's Malaysia branch. He has been the Chairman of Au Optronics Corp. since May 11, 2015. He serves as the Chairman of the Board of Directors of Taiwan Nano Electro-Optical Tech, BriView (Hefei) Co., Ltd. and BriView (Xiamen) Corp. He has been a Director of AU Optronics Corp. since June 2010. He has been a Director of Qisda Corporation since July 4, 2017. Previously, he served as a Director of Qisda Corporation. Mr. Peng holds an MBA Degree from Heriot-Watt University, U.K in 1995.

CEO Compensation
  • Insufficient data for Paul to compare compensation growth.
  • Insufficient data for Paul to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the AU Optronics management team in years:

3.4
Average Tenure
52
Average Age
  • The tenure for the AU Optronics management team is about average.
Management Team

Paul Peng

TITLE
Chairman & CEO
AGE
59
TENURE
3.4 yrs

Michael Tsai

TITLE
President
AGE
54
TENURE
3.4 yrs

Benjamin Tseng

TITLE
CFO & VP
AGE
50
TENURE
3.4 yrs

Wei-Lung Liau

TITLE
CTO & Senior VP
AGE
47
TENURE
0.4 yrs

Julia Chao

TITLE
Head of IR Department

Sean Chen

TITLE
Vice President of Corporate Development Office
AGE
49
TENURE
3.4 yrs

Amy Ku

TITLE
Chief Sustainability Officer & VP
AGE
54
TENURE
1.2 yrs

Tien-Yu Lin

TITLE
VP & GM of Mobile Solutions Business Group
Board of Directors Tenure

Average tenure and age of the AU Optronics board of directors in years:

6.3
Average Tenure
65
Average Age
  • The tenure for the AU Optronics board of directors is about average.
Board of Directors

Paul Peng

TITLE
Chairman & CEO
AGE
59
TENURE
3.9 yrs

Michael Tsai

TITLE
President
AGE
54
TENURE
3.3 yrs

Philip Peng

TITLE
Independent Director
AGE
65
TENURE
6.3 yrs

Vivien Hsieh

TITLE
Independent Director
AGE
65
TENURE
15 yrs

K.Y. Lee

TITLE
Director
AGE
66
TENURE
23.3 yrs

Mei-Yueh Ho

TITLE
Independent Director
AGE
67
TENURE
8.8 yrs

Ding-Yuan Yang

TITLE
Independent Director
AGE
70
TENURE
9.3 yrs

Yen-Shiang Shih

TITLE
Independent Director
AGE
68
TENURE
3.3 yrs

Peter Chen

TITLE
Director
AGE
57
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess AU Optronics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AU Optronics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

AU Optronics Corp. researches, develops, produces, and sells thin film transistor liquid crystal displays and other flat panel displays. The company operates through two segments, Display and Solar. The Display segment designs, develops, manufactures, assembles, and markets flat panel displays for use in televisions (TVs), TV sets, and other related products; desktop monitors; mobile PCs, such as notebooks and tablets; mobile phones; and commercial and other applications, including displays for automobiles, industrial PCs, automated teller machines, point of sale terminals, pachinko machines, medical equipment, and others. This segment serves original equipment manufacturing service providers; and brand companies. The Solar segment manufactures and sells solar materials, including ingots, solar wafers, and solar modules, as well as provides technical engineering and maintenance services for solar system projects. This segment sells its ingot and solar wafer products primarily to solar cell manufacturers; and solar modules to installers, solar system integrators, property developers, and other value-added resellers. The company also engages in the renewable energy power generation; repairing and sale support of TFT-LCD modules, as well as sale support of solar-related products; injecting and stamping parts; manufacture and sale of molds, light guide plates, liquid crystal products, backlight modules, and related parts, as well as precision plastic and metal parts; IP related business; design, development and sales of software and hardware for health care industry; manufacture, assembly, and sale of automotive parts; manufacture and sale of motorized treadmills; and planning, design, and development of construction for environmental protection and related project management. It operates in the People’s Republic of China, Taiwan, Japan, Singapore, and internationally. AU Optronics Corp. was founded in 1996 and is headquartered in Hsinchu, Taiwan.

Details
Name: AU Optronics Corp.
AU7A
Exchange: DB
Founded: 1996
NT$3,122,705,589
9,624,245,115
Website: http://www.auo.com
Address: AU Optronics Corp.
Hsinchu Science Park,
No. 1, Li-Hsin Road 2,
Hsinchu,
30078,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSEC 2409 Common Stock Taiwan Stock Exchange TW TWD 08. Sep 2000
NYSE AUO SPONSORED ADR New York Stock Exchange US USD 23. May 2002
DB AU7A SPONSORED ADR Deutsche Boerse AG DE EUR 23. May 2002
Number of employees
Current staff
Staff numbers
0
AU Optronics employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 21:24
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/03/29
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.