DB:TPV

Stock Analysis Report

TPV Technology

Executive Summary

TPV Technology Limited, an investment holding company, designs, manufactures, and sells computer monitors, flat TV products, and other display products.


Snowflake Analysis

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has TPV Technology's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TPV has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

TPV

-8.0%

DE Tech

-5.7%

DE Market


1 Year Return

357.4%

TPV

4.6%

DE Tech

6.1%

DE Market

Return vs Industry: TPV exceeded the German Tech industry which returned 23.8% over the past year.

Return vs Market: TPV exceeded the German Market which returned 17.1% over the past year.


Shareholder returns

TPVIndustryMarket
7 Day0%-8.0%-5.7%
30 Day3.9%-12.4%-5.7%
90 Dayn/a8.3%-3.6%
1 Year363.6%357.4%5.4%4.6%9.3%6.1%
3 Year174.3%162.2%137.0%132.0%8.9%-0.7%
5 Year165.1%150.0%82.6%61.1%13.6%-2.0%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is TPV Technology undervalued compared to its fair value and its price relative to the market?

4.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TPV (€0.43) is trading below our estimate of fair value (€0.45)

Significantly Below Fair Value: TPV is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TPV is good value based on its PE Ratio (18.9x) compared to the Tech industry average (23x).

PE vs Market: TPV is good value based on its PE Ratio (18.9x) compared to the German market (20.6x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TPV's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TPV is good value based on its PB Ratio (0.7x) compared to the XE Tech industry average (1.5x).


Next Steps

Future Growth

How is TPV Technology forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

26.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TPV's forecast earnings growth (26.9% per year) is above the savings rate (0.2%).

Earnings vs Market: TPV's earnings (26.9% per year) are forecast to grow faster than the German market (13.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if TPV's revenue is forecast to grow faster than the German market.

High Growth Revenue: Insufficient data to determine if TPV's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TPV's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has TPV Technology performed over the past 5 years?

20.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TPV has a large one-off loss of $51.0M impacting its June 30 2019 financial results.

Growing Profit Margin: TPV became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: TPV has become profitable over the past 5 years, growing earnings by 20.1% per year.

Accelerating Growth: TPV has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: TPV has become profitable in the last year, making it difficult to compare its past year earnings growth to the Tech industry (-4.2%).


Return on Equity

High ROE: TPV's Return on Equity (3.4%) is considered low.


Next Steps

Financial Health

How is TPV Technology's financial position?


Financial Position Analysis

Short Term Liabilities: TPV's short term assets ($3.6B) exceed its short term liabilities ($3.0B).

Long Term Liabilities: TPV's short term assets ($3.6B) exceed its long term liabilities ($478.1M).


Debt to Equity History and Analysis

Debt Level: TPV's debt to equity ratio (39.2%) is considered satisfactory.

Reducing Debt: TPV's debt to equity ratio has reduced from 68.2% to 39.2% over the past 5 years.

Debt Coverage: TPV's debt is well covered by operating cash flow (42.7%).

Interest Coverage: TPV's interest payments on its debt are well covered by EBIT (6.2x coverage).


Balance Sheet

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

Debt Coverage by Assets: TPV's debt is covered by short term assets (assets are 5.9x debt).


Next Steps

Dividend

What is TPV Technology's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TPV's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TPV's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TPV's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TPV's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TPV's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.7yrs

Average board tenure


CEO

Jason Hsuan (75yo)

20.8yrs

Tenure

US$684,000

Compensation

Dr. Jason Hsuan has been the Chief Executive Officer and Chairman of the Board of TPV Technology Ltd. since 1999. Dr. Hsuan joined TPV in November 1990 and is responsible for its overall corporate policies ...


CEO Compensation Analysis

Compensation vs Market: Jason's total compensation ($USD684.00K) is below average for companies of similar size in the German market ($USD4.52M).

Compensation vs Earnings: Jason's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Jason Hsuan
Chairman & CEO20.8yrsUS$684.00k1.06% $95.1m
Boon Teong Chan
Independent Non-Executive Director21.5yrsUS$116.00kno data
Guofei Xu
Non-Executive Director1.3yrsno datano data
Chia-Tai Ku
Independent Non-Executive Director21.5yrsUS$77.00kno data
Chi Keung Wong
Independent Non-Executive Director15.3yrsUS$77.00kno data
Jun Li
Non-Executive Director5.7yrsno datano data
Xianghui Bi
Non-Executive Director4.3yrsno datano data
Dongchen Zhang
Non-Executive Director1.3yrsno datano data
Jie Sun
Non-Executive Director0.7yrsno datano data

5.7yrs

Average Tenure

57yo

Average Age

Experienced Board: TPV's board of directors are considered experienced (5.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

TPV Technology Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TPV Technology Limited
  • Ticker: TPV
  • Exchange: DB
  • Founded: 1998
  • Industry: Technology Hardware, Storage and Peripherals
  • Sector: Tech
  • Market Cap: €9.007b
  • Shares outstanding: 2.35b
  • Website: https://www.tpv-tech.com

Number of Employees


Location

  • TPV Technology Limited
  • C-Bons International Center
  • 12th Floor
  • Kwun Tong
  • Kowloon
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TPVDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 1999

Biography

TPV Technology Limited, an investment holding company, designs, manufactures, and sells computer monitors, flat TV products, and other display products. It operates through three segments: Monitors, TVs, and Others. The company engages in the research and development, production and sale, and trading of computer monitors and flat TVs, as well as sourcing of materials and various components. It also produces, distributes, and sells mobile phone, telecommunication, touch screen, and all-in-one PC products, as well as LCM modules. In addition, the company is involved in the trading of audio and video products; and sale of spare parts and tablets. Further, it distributes licensed Philips monitors, TVs, mobile phones, and tablets products. The company distributes its products under the AOC and Envision brands. It operates in Europe, the People’s Republic of China and rest of Asia, North and South America, and internationally. The company was formerly known as TPV Holdings Limited and changed its name to TPV Technology Limited in June 2000. TPV Technology Limited was incorporated in 1998 and is based in Kwun Tong, Hong Kong. TPV Technology Limited is considered a Red Chip company due to its listing on the Hong Kong Stock Exchange. As of November 13, 2019, TPV Technology Limited operates as a subsidiary of CEIEC (H.K.) Limited. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/17 20:45
End of Day Share Price2019/11/04 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.