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KCE Electronics

DB:KCEA
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KCEA
DB
฿32B
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

KCE Electronics Public Company Limited, together with its subsidiaries, manufactures and distributes electric printed circuit boards (PCBs) under the KCE trademark worldwide. The last earnings update was 70 days ago. More info.


Add to Portfolio Compare Print
  • KCE Electronics has significant price volatility in the past 3 months.
KCEA Share Price and Events
7 Day Returns
2%
DB:KCEA
1.7%
DE Electronic
1.5%
DE Market
1 Year Returns
-25.4%
DB:KCEA
-2%
DE Electronic
-6.2%
DE Market
KCEA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
KCE Electronics (KCEA) 2% 7.8% -3.2% -25.4% -24.3% 83.8%
DE Electronic 1.7% 8.1% 19.9% -2% 97.4% 104.1%
DE Market 1.5% 6% 8.5% -6.2% 10.7% 15.3%
1 Year Return vs Industry and Market
  • KCEA underperformed the Electronic industry which returned -2% over the past year.
  • KCEA underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
KCEA
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for KCE Electronics's competitors could be found in our database.

Value

 Is KCE Electronics 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 KCE Electronics 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 KCE Electronics.

DB:KCEA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.8%
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:KCEA
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))
= 1.066 (1 + (1- 20%) (9.6%))
1.099
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.099 * 5.96%)
6.78%

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

The calculations below outline how an intrinsic value for KCE Electronics 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:KCEA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (THB, Millions) Source Present Value
Discounted (@ 6.78%)
2019 2,251.00 Analyst x3 2,108.13
2020 2,629.00 Analyst x2 2,305.86
2021 2,920.00 Analyst x3 2,398.54
2022 3,136.52 Est @ 7.42% 2,412.87
2023 3,301.47 Est @ 5.26% 2,378.57
2024 3,425.27 Est @ 3.75% 2,311.13
2025 3,517.52 Est @ 2.69% 2,222.73
2026 3,586.23 Est @ 1.95% 2,122.32
2027 3,637.73 Est @ 1.44% 2,016.16
2028 3,676.78 Est @ 1.07% 1,908.47
Present value of next 10 years cash flows ฿22,184.79
DB:KCEA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ฿3,676.78 × (1 + 0.23%) ÷ (6.78% – 0.23%)
฿56,269.28
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ฿56,269.28 ÷ (1 + 6.78%)10
฿29,207.04
DB:KCEA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ฿22,184.79 + ฿29,207.04
฿51,391.83
Equity Value per Share
(THB)
= Total value / Shares Outstanding
= ฿51,391.83 / 1,172.79
฿43.82
DB:KCEA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:KCEA represents 0.02652x of SET:KCE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.02652x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (THB) x Listing Adjustment Factor
= ฿ 43.82 x 0.02652
€1.16
Value per share (EUR) From above. €1.16
Current discount Discount to share price of €0.72
= -1 x (€0.72 - €1.16) / €1.16
38.4%

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

Current Discount
Amount off the current price KCE Electronics is available for.
Intrinsic value
38%
Share price is €0.72 vs Future cash flow value of €1.16
Current Discount Checks
For KCE Electronics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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 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 KCE Electronics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are KCE Electronics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KCEA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in THB ฿1.72
SET:KCE Share Price ** SET (2019-04-23) in THB ฿27
Germany Electronic Industry PE Ratio Median Figure of 13 Publicly-Listed Electronic Companies 23.37x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.6x

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

** Primary Listing of KCE Electronics.

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

= SET:KCE Share Price ÷ EPS (both in THB)

= 27 ÷ 1.72

15.72x

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

  • 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
Does KCE Electronics's expected growth come at a high price?
Raw Data
DB:KCEA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
10.2%per year
Germany Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.1x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.72x ÷ 10.2%

1.55x

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

  • KCE Electronics is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on KCE Electronics's assets?
Raw Data
DB:KCEA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in THB ฿10.19
SET:KCE Share Price * SET (2019-04-23) in THB ฿27
Germany Electronic Industry PB Ratio Median Figure of 19 Publicly-Listed Electronic Companies 2.57x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:KCEA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SET:KCE Share Price ÷ Book Value per Share (both in THB)

= 27 ÷ 10.19

2.65x

* Primary Listing of KCE Electronics.

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

  • KCE Electronics is overvalued based on assets compared to the DE Electronic industry average.
X
Value checks
We assess KCE Electronics'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. KCE Electronics 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 KCE Electronics expected to perform in the next 1 to 3 years based on estimates from 8 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
10.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is KCE Electronics expected to grow at an attractive rate?
  • KCE Electronics's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • KCE Electronics's earnings growth is positive but not above the Germany market average.
  • KCE Electronics's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:KCEA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KCEA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 10.2%
DB:KCEA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 6.7%
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 11.6%
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:KCEA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in THB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KCEA Future Estimates Data
Date (Data in THB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 17,046 3,644 2,693 5
2020-12-31 16,080 3,419 2,463 8
2019-12-31 14,802 3,142 2,095 8
DB:KCEA Past Financials Data
Date (Data in THB Millions) Revenue Cash Flow Net Income *
2018-12-31 13,982 2,774 2,015
2018-09-30 14,167 2,760 2,232
2018-06-30 14,079 3,056 2,285
2018-03-31 14,099 3,411 2,399
2017-12-31 14,195 3,573 2,545
2017-09-30 13,976 3,811 2,637
2017-06-30 13,890 4,076 2,810
2017-03-31 13,805 4,357 2,950
2016-12-31 13,797 4,374 3,039
2016-09-30 13,841 4,160 3,014
2016-06-30 13,627 3,518 2,802
2016-03-31 13,096 2,708 2,480

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • KCE Electronics's earnings are expected to grow by 10.2% yearly, however this is not considered high growth (20% yearly).
  • KCE Electronics's revenue is expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).
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:KCEA 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 8 Analyst Estimates (S&P Global) See Below

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

DB:KCEA Future Estimates Data
Date (Data in THB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 2.32 2.56 2.20 4.00
2020-12-31 2.13 2.46 1.90 7.00
2019-12-31 1.79 1.93 1.50 8.00
DB:KCEA Past Financials Data
Date (Data in THB Millions) EPS *
2018-12-31 1.72
2018-09-30 1.90
2018-06-30 1.95
2018-03-31 2.05
2017-12-31 2.17
2017-09-30 2.25
2017-06-30 2.40
2017-03-31 2.53
2016-12-31 2.62
2016-09-30 2.61
2016-06-30 2.44
2016-03-31 2.17

*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.
  • KCE Electronics is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess KCE Electronics'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.
KCE Electronics has a total score of 2/6, 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 KCE Electronics 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 KCE Electronics'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.
  • KCE Electronics's year on year earnings growth rate has been positive over the past 5 years.
  • 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.
Earnings and Revenue History
KCE Electronics'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 KCE Electronics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KCEA Past Revenue, Cash Flow and Net Income Data
Date (Data in THB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 13,982.50 2,014.87 1,776.53
2018-09-30 14,167.30 2,232.06 1,773.18
2018-06-30 14,078.93 2,284.72 1,794.63
2018-03-31 14,099.19 2,399.05 1,807.85
2017-12-31 14,195.41 2,544.50 1,785.23
2017-09-30 13,976.41 2,636.77 1,756.83
2017-06-30 13,889.58 2,810.39 1,708.66
2017-03-31 13,804.71 2,949.91 1,678.40
2016-12-31 13,797.49 3,038.75 1,657.86
2016-09-30 13,841.40 3,014.27 1,677.53
2016-06-30 13,627.13 2,801.66 1,646.28
2016-03-31 13,095.65 2,480.01 1,562.79
2015-12-31 12,448.75 2,240.11 1,484.10
2015-09-30 11,931.96 2,154.99 1,471.47
2015-06-30 11,630.08 2,192.71 1,506.38
2015-03-31 11,401.51 2,181.48 1,552.34
2014-12-31 11,284.33 2,109.77 1,650.98
2014-09-30 11,075.71 1,906.19 1,618.32
2014-06-30 10,616.32 1,622.52 1,538.34
2014-03-31 10,059.41 1,341.08 1,423.87
2013-12-31 9,293.89 1,173.50 1,248.32
2013-09-30 8,668.92 990.30 1,146.76
2013-06-30 7,886.42 885.86 1,034.34
2013-03-31 7,132.30 760.59 994.50
2012-12-31 6,477.89 643.27 1,051.57
2012-09-30 5,833.58 349.50 1,166.31
2012-06-30 6,199.26 178.93 1,207.29

*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.
  • KCE Electronics has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • KCE Electronics used its assets more efficiently than the DE Electronic industry average last year based on Return on Assets.
  • KCE Electronics's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess KCE Electronics'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.
KCE Electronics has a total score of 2/6, 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 KCE Electronics'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 KCE Electronics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • 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.
Balance sheet
This treemap shows a more detailed breakdown of KCE Electronics'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 2.6x 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 KCE Electronics Company Filings, last reported 3 months ago.

DB:KCEA Past Debt and Equity Data
Date (Data in THB Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 12,007.10 3,038.55 1,382.87
2018-09-30 11,631.81 3,648.86 1,166.37
2018-06-30 11,722.67 3,729.57 1,234.72
2018-03-31 11,790.33 2,982.46 1,261.39
2017-12-31 11,274.31 3,519.51 1,139.70
2017-09-30 10,677.37 4,158.71 994.25
2017-06-30 10,715.17 4,008.96 747.95
2017-03-31 10,693.87 3,763.25 988.29
2016-12-31 10,027.50 4,528.78 891.81
2016-09-30 9,323.47 5,036.61 816.52
2016-06-30 9,123.96 5,541.32 813.62
2016-03-31 8,877.57 5,555.00 792.85
2015-12-31 8,100.21 6,312.63 676.07
2015-09-30 7,414.26 6,780.33 469.23
2015-06-30 7,082.29 6,394.52 355.59
2015-03-31 6,939.57 5,486.09 453.01
2014-12-31 6,387.94 5,909.89 466.95
2014-09-30 5,787.95 4,713.29 466.80
2014-06-30 5,202.38 4,492.53 328.80
2014-03-31 4,901.00 4,487.24 621.60
2013-12-31 4,110.42 4,851.83 404.77
2013-09-30 3,672.09 6,101.66 255.10
2013-06-30 3,412.92 5,935.52 289.31
2013-03-31 3,371.90 5,572.98 372.84
2012-12-31 3,082.18 5,531.13 400.50
2012-09-30 2,841.02 5,747.54 538.79
2012-06-30 2,729.60 5,633.17 350.87
  • KCE Electronics's level of debt (25.3%) 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 (117.7% vs 25.3% today).
  • Debt is well covered by operating cash flow (91.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 16.6x coverage).
X
Financial health checks
We assess KCE Electronics'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. KCE Electronics has a total score of 6/6, 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 KCE Electronics'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
4.07%
Current annual income from KCE Electronics dividends. Estimated to be 3.8% next year.
If you bought €2,000 of KCE Electronics shares you are expected to receive €81 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?
  • KCE Electronics's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • KCE Electronics's dividend is above the markets top 25% of dividend payers in Germany (3.71%).
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:KCEA 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 8 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 327 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:KCEA Future Dividends Estimate Data
Date (Data in ฿) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.12 4.00
2020-12-31 1.04 6.00
2019-12-31 0.95 6.00
DB:KCEA Past Annualized Dividends Data
Date (Data in ฿) Dividend per share (annual) Avg. Yield (%)
2019-03-12 1.100 4.306
2018-11-06 1.100 3.924
2018-08-07 1.100 2.601
2018-03-13 1.100 3.018
2017-11-07 1.100 2.795
2017-08-08 1.100 2.372
2017-07-17 1.100 2.418
2017-05-09 1.100 2.054
2017-03-14 1.100 2.085
2016-11-08 0.750 1.335
2016-03-15 0.750 1.679
2015-03-10 0.550 1.868
2014-08-05 0.450 2.201
2014-05-06 0.375 1.994
2014-03-18 0.375 2.396
2013-08-09 0.300 3.048
2013-05-09 0.350 4.463
2013-03-19 0.350 4.363
2012-05-08 0.100 2.390
2012-04-27 0.100 3.248
2011-08-17 0.200 7.921
2011-05-10 0.300 8.173
2011-05-06 0.300 7.088
2010-11-03 0.150 3.917
2010-08-18 0.150 3.419
2010-05-11 0.075 1.902
2010-03-18 0.075 2.211
2009-11-06 0.000 0.000
2009-08-11 0.000 0.000
2009-05-14 0.000 0.000
2009-04-24 0.000 0.000

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

  • KCE Electronics has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but KCE Electronics only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of KCE Electronics's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess KCE Electronics'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 KCE Electronics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. KCE Electronics 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 KCE Electronics'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
Pitharn Ongkosit
COMPENSATION ฿1,160,000
AGE 37
TENURE AS CEO 5.8 years
CEO Bio

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 Deputy Managing Director of KCE Electronics Public Company Limited since 2009. He has been Executive Director of KCE Electronics Public Company Limited since April 29, 2014 and has been its 1st Vice Chairman since April 26, 2018.

CEO Compensation
  • Pitharn's compensation has been consistent with company performance over the past year.
  • Pitharn's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the KCE Electronics management team in years:

5.8
Average Tenure
65
Average Age
  • The average tenure for the KCE Electronics management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Bancha Ongkosit

TITLE
Chairman of the Board
COMPENSATION
฿2M
AGE
67
TENURE
37.3 yrs

Pitharn Ongkosit

TITLE
CEO, President
COMPENSATION
฿1M
AGE
37
TENURE
5.8 yrs

Voraluksana Ongkosit

TITLE
Executive Vice Chairperson
COMPENSATION
฿1M
AGE
67
TENURE
5.8 yrs

Siriphan Suntanaphan

TITLE
Executive Director
COMPENSATION
฿1M
AGE
63

Tanyarat Tessalee

TITLE
Executive VP of Finance & Administration
TENURE
5.8 yrs

Fredrick Ohanian

TITLE
Executive VP of Operations & Member of Executive Board
TENURE
11.3 yrs

Viboon Sunthornwiwath

TITLE
Senior Vice President of Human Resources
TENURE
3.3 yrs

Athasidh Ongkosit

TITLE
Senior Vice President of Information Technology
TENURE
9.3 yrs

Eua-Aree Kankomol

TITLE
Chief of the Internal Audit

Tantikorn Changkanark

TITLE
Vice President of Human Resources
Board of Directors Tenure

Average tenure and age of the KCE Electronics board of directors in years:

7
Average Tenure
67
Average Age
  • The tenure for the KCE Electronics board of directors is about average.
Board of Directors

Bancha Ongkosit

TITLE
Chairman of the Board
COMPENSATION
฿2M
AGE
67
TENURE
37.3 yrs

Pitharn Ongkosit

TITLE
CEO, President
COMPENSATION
฿1M
AGE
37
TENURE
1 yrs

Panja Senadisai

TITLE
2nd Vice Chairman
COMPENSATION
฿1M
AGE
70
TENURE
1 yrs

Voraluksana Ongkosit

TITLE
Executive Vice Chairperson
COMPENSATION
฿1M
AGE
67
TENURE
5.8 yrs

Siriphan Suntanaphan

TITLE
Executive Director
COMPENSATION
฿1M
AGE
63
TENURE
27 yrs

Suprija Mokkhavesa

TITLE
Independent Director
COMPENSATION
฿2M
AGE
81
TENURE
36 yrs

Chantima Ongkosit

TITLE
Non Executive Director
COMPENSATION
฿1M
AGE
72
TENURE
36 yrs

Paitoon Taveebhol

TITLE
Independent Director
COMPENSATION
฿2M
AGE
68
TENURE
7 yrs

Kanchit Bunajinda

TITLE
Independent Director
COMPENSATION
฿2M
AGE
51
TENURE
3 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 KCE Electronics'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. KCE Electronics 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

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, manufactured from copper clad laminate, are used in various applications, including automotive, industrial, computer, and telecom systems. It also manufactures and distributes chemicals products, and prepreg and laminate products; and rents buildings. The company was formerly known as Kuang Charoen Electronics Company Limited. KCE Electronics Public Company Limited was founded in 1982 and is based in Bangkok, Thailand.

Details
Name: KCE Electronics Public Company Limited
KCEA
Exchange: DB
Founded: 1982
฿882,931,640
1,172,793,596
Website: http://www.kcethai.in.th
Address: KCE Electronics Public Company Limited
72-72/1-3 Soi Chalong Krung 31,
Kwang Lumplatew,
Bangkok,
10520,
Thailand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SET KCE Ordinary Shares The Stock Exchange of Thailand TH THB 02. Jan 1992
DB KCE1 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
DB KCEA THB0.5 (ALIEN) Deutsche Boerse AG DE EUR 02. Jan 1992
SET KCE-R NON VTG DEP RCPT REP 1 ORD THB1 The Stock Exchange of Thailand TH THB 20. Aug 2001
DB NVPA NON VTG DEP RCPT REP 1 ORD THB1 Deutsche Boerse AG DE EUR 20. Aug 2001
THAMSE KCE-F THB0.5 (ALIEN) Bangkok-Alien Market Stock Exchange TH THB 02. Jan 1992
Number of employees
Current staff
Staff numbers
0
KCE Electronics employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 20:59
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/12
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.