DB:KCE1

Stock Analysis Report

KCE Electronics

Executive Summary

KCE Electronics Public Company Limited, together with its subsidiaries, manufactures and distributes electric printed circuit boards (PCBs) under the KCE trademark worldwide.

Snowflake

Fundamentals

Flawless balance sheet, undervalued and pays a dividend.

Risks

  • KCE Electronics has significant price volatility in the past 3 months.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

DB:KCE1

2.6%

DE Electronic

0.8%

DE Market


1 Year Return

-60.2%

DB:KCE1

-36.1%

DE Electronic

-10.9%

DE Market

KCE1 underperformed the Electronic industry which returned -36% over the past year.

KCE1 underperformed the Market in Germany which returned -10.4% over the past year.


Share holder returns

KCE1IndustryMarket
7 Day0%2.6%0.8%
30 Day0%-15.0%-5.9%
90 Day0%-17.5%-2.9%
1 Year-58.7%-60.2%-35.5%-36.1%-8.1%-10.9%
3 Year-56.5%-59.7%31.3%28.2%10.4%0.9%
5 Year20.6%6.9%83.2%73.9%25.4%8.0%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

30%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

KCE Electronics's share price is below the future cash flow value, and at a moderate discount (> 20%).

KCE Electronics's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

KCE Electronics is good value based on earnings compared to the DE Electronic industry average.

KCE Electronics is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

KCE Electronics is good value based on expected growth next year.


Price Based on Value of Assets

KCE Electronics is good value based on assets compared to the DE Electronic industry average.


Next Steps

Future Growth

How is KCE Electronics expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

13.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

KCE Electronics's revenue is expected to grow by 6% yearly, however this is not considered high growth (20% yearly).

KCE Electronics's earnings are expected to grow by 13.6% yearly, however this is not considered high growth (20% yearly).

KCE Electronics's revenue growth is expected to exceed the Germany market average.

KCE Electronics's earnings growth is expected to exceed the Germany market average.

KCE Electronics's earnings growth is expected to exceed the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

KCE Electronics is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has KCE Electronics performed over the past 5 years?

-0.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

KCE Electronics's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.

KCE Electronics's 1-year earnings growth is negative, it can't be compared to the 5-year average.

KCE Electronics's 1-year earnings growth is negative, it can't be compared to the DE Electronic industry average.


Return on Equity

KCE Electronics has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

KCE Electronics used its assets more efficiently than the DE Electronic industry average last year based on Return on Assets.


Return on Capital Employed

KCE Electronics's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is KCE Electronics's financial position?


Financial Position Analysis

KCE Electronics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

KCE Electronics's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

KCE Electronics's level of debt (24%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (85% vs 24% today).

Debt is well covered by operating cash flow (97.2%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 14.8x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 2.4x debt.


Next Steps

Dividend

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

6.01%

Expected Dividend Yield


Upcoming Dividend Payment

Purchase KCE Electronics before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield and Payments Analysis

KCE Electronics's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.57%).

KCE Electronics's dividend is above the markets top 25% of dividend payers in Germany (4.29%).

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

Dividends paid are covered by earnings (1.2x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.4x coverage).


Next Steps

Management

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

6.1yrs

Average management tenure


CEO

Pitharn Ongkosit (38yo)

6.1yrs

Tenure

฿1,160,000

Compensation

Mr. Pitharn Ongkosit has been the Chief Executive Officer and Member of Executive Board of KCE Electronics Public Company Limited since July 16, 2013 and serves as its President. Mr. Ongkosit served as a D ...


Management Age and Tenure

6.1yrs

Average Tenure

66yo

Average Age

The average tenure for the KCE Electronics management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

6.7yrs

Average Tenure

68yo

Average Age

The tenure for the KCE Electronics board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Siriphan Suntanaphan (64yo)

    Executive Director

    • Tenure: 0.0yrs
    • Compensation: ฿1.16m
  • Voraluksana Ongkosit (68yo)

    Executive Vice Chairperson

    • Tenure: 6.1yrs
    • Compensation: ฿1.16m
  • Bancha Ongkosit (68yo)

    Chairman of the Board

    • Tenure: 37.6yrs
    • Compensation: ฿2.02m
  • Tanyarat Tessalee

    Executive VP of Finance & Administration

    • Tenure: 6.1yrs
  • Pitharn Ongkosit (38yo)

    CEO, President

    • Tenure: 6.1yrs
    • Compensation: ฿1.16m
  • Fredrick Ohanian

    Executive VP of Operations & Member of Executive Board

    • Tenure: 11.6yrs
  • Athasidh Ongkosit

    Senior Vice President of Information Technology

    • Tenure: 9.6yrs
  • Viboon Sunthornwiwath

    Senior Vice President of Human Resources

    • Tenure: 3.6yrs
  • Kanokporn Sukprasitpredee

    Senior Vice President of Supply Chain

    • Tenure: 2.6yrs

Board Members

  • Siriphan Suntanaphan (64yo)

    Executive Director

    • Tenure: 0.0yrs
    • Compensation: ฿1.16m
  • Panja Senadisai (71yo)

    2nd Vice Chairman

    • Tenure: 1.3yrs
    • Compensation: ฿1.16m
  • Voraluksana Ongkosit (68yo)

    Executive Vice Chairperson

    • Tenure: 6.1yrs
    • Compensation: ฿1.16m
  • Bancha Ongkosit (68yo)

    Chairman of the Board

    • Tenure: 37.6yrs
    • Compensation: ฿2.02m
  • Suprija Mokkhavesa (82yo)

    Independent Director

    • Tenure: 36.3yrs
    • Compensation: ฿1.69m
  • Chantima Ongkosit (73yo)

    Non Executive Director

    • Tenure: 36.3yrs
    • Compensation: ฿1.16m
  • Paitoon Taveebhol (69yo)

    Independent Director

    • Tenure: 7.3yrs
    • Compensation: ฿1.80m
  • Kanchit Bunajinda (52yo)

    Independent Director

    • Tenure: 3.3yrs
    • Compensation: ฿1.69m
  • Pitharn Ongkosit (38yo)

    CEO, President

    • Tenure: 6.1yrs
    • Compensation: ฿1.16m

Company Information

KCE Electronics Public Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: KCE Electronics Public Company Limited
  • Ticker: KCE1
  • Exchange: DB
  • Founded: 1982
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: ฿18.061b
  • Listing Market Cap: ฿526.138m
  • Shares outstanding: 1.17b
  • Website: https://www.kcethai.in.th

Location

  • KCE Electronics Public Company Limited
  • 72-72/1-3 Soi Chalong Krung 31
  • Kwang Lumplatew
  • Bangkok
  • 10520
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KCESET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBJan 1992
KCE1DB (Deutsche Boerse AG)THB0.5 (ALIEN)DEEURJan 1992
KCEABST (Boerse-Stuttgart)THB0.5 (ALIEN)DEEURJan 1992
KCE1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
KCE-RSET (The Stock Exchange of Thailand)NON VTG DEP RCPT REP 1 ORD THB1THTHBAug 2001
NVPADB (Deutsche Boerse AG)NON VTG DEP RCPT REP 1 ORD THB1DEEURAug 2001

Biography

KCE Electronics Public Company Limited, together with its subsidiaries, manufactures and distributes electric printed circuit boards (PCBs) under the KCE trademark worldwide. The company’s PCBs, manufactur ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/18 21:10
End of Day Share Price2019/05/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.