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TPV Technology

DB:TPV
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TPV
DB
HK$4B
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

TPV Technology Limited, an investment holding company, designs, manufactures, and sells computer monitors, flat TV products, and other display products. The last earnings update was 8 days ago. More info.


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  • TPV Technology has significant price volatility in the past 3 months.
TPV Share Price and Events
7 Day Returns
-3.2%
DB:TPV
1.9%
DE Tech
2.5%
DE Market
1 Year Returns
95.7%
DB:TPV
-1.1%
DE Tech
-6.7%
DE Market
TPV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TPV Technology (TPV) -3.2% 13.9% 46.3% 95.7% 38.5% 59.3%
DE Tech 1.9% 4.3% 16.8% -1.1% 69.2% 105%
DE Market 2.5% 3.3% 9.2% -6.7% 9% 13.5%
1 Year Return vs Industry and Market
  • TPV outperformed the Tech industry which returned -1.1% over the past year.
  • TPV outperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
TPV
Industry
5yr Volatility vs Market
Related Companies

TPV Value

 Is TPV Technology 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 TPV Technology 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 TPV Technology.

DB:TPV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 11.2%
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:TPV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Tech Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.043 (1 + (1- 25%) (119.35%))
1.655
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.65
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.655 * 6.65%)
11.23%

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

The calculations below outline how an intrinsic value for TPV Technology 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:TPV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.23%)
2019 47.03 Est @ -27.64% 42.28
2020 37.96 Est @ -19.28% 30.68
2021 32.86 Est @ -13.43% 23.88
2022 29.80 Est @ -9.33% 19.47
2023 27.87 Est @ -6.46% 16.37
2024 26.63 Est @ -4.46% 14.06
2025 25.82 Est @ -3.05% 12.26
2026 25.28 Est @ -2.07% 10.79
2027 24.94 Est @ -1.38% 9.57
2028 24.71 Est @ -0.9% 8.52
Present value of next 10 years cash flows $187.88
DB:TPV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $24.71 × (1 + 0.23%) ÷ (11.23% – 0.23%)
$225.11
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $225.11 ÷ (1 + 11.23%)10
$77.65
DB:TPV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $187.88 + $77.65
$265.53
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $265.53 / 2,345.64
$1.06
DB:TPV Discount to Share Price
Calculation Result
Exchange Rate USD/HKD
(Reporting currency to currency of SEHK:903)
7.845
Value per Share
(HKD)
= Value per Share in USD x Exchange Rate (USD/HKD)
= $0.11 x 7.845
HK$0.89
Non-primary Listing Adjustment Factor 1 share in DB:TPV represents 0.10651x of SEHK:903
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10651x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 0.89 x 0.10651
€0.09
Value per share (EUR) From above. €0.09
Current discount Discount to share price of €0.18
= -1 x (€0.18 - €0.09) / €0.09
-90.3%

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

  • The current share price of TPV Technology 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 TPV Technology's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TPV Technology's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:TPV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.01
SEHK:903 Share Price ** SEHK (2019-04-18) in HKD HK$1.69
SEHK:903 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.127 $0.22
Europe Tech Industry PE Ratio Median Figure of 22 Publicly-Listed Tech Companies 13.11x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 19.69x

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

** Primary Listing of TPV Technology.

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

= SEHK:903 Share Price ÷ EPS (both in USD)

= 0.22 ÷ 0.01

23.06x

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

  • TPV Technology is overvalued based on earnings compared to the Europe Tech industry average.
  • TPV Technology is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does TPV Technology's expected growth come at a high price?
Raw Data
DB:TPV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
36.8%per year
Europe Tech Industry PEG Ratio Median Figure of 12 Publicly-Listed Tech Companies 0.9x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for TPV Technology, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on TPV Technology's assets?
Raw Data
DB:TPV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $0.65
SEHK:903 Share Price * SEHK (2019-04-18) in HKD HK$1.69
SEHK:903 Share Price converted to USD reporting currency Exchange rate (HKD/ USD) 0.127 $0.22
Europe Tech Industry PB Ratio Median Figure of 30 Publicly-Listed Tech Companies 1.3x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.87x
DB:TPV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:903 Share Price ÷ Book Value per Share (both in USD)

= 0.22 ÷ 0.65

0.33x

* Primary Listing of TPV Technology.

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

  • TPV Technology is good value based on assets compared to the Europe Tech industry average.
X
Value checks
We assess TPV Technology'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 Tech 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 Tech industry average (and greater than 0)? (1 check)
  5. TPV Technology has a total score of 1/6, 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.

TPV Future Performance

 How is TPV Technology expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover TPV Technology, future earnings growth has been estimated based on fundamentals.
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
36.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TPV Technology expected to grow at an attractive rate?
  • TPV Technology's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • TPV Technology's earnings growth is expected to exceed the Germany market average.
  • Unable to compare TPV Technology's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:TPV Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:TPV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 36.8%
Europe Tech Industry Earnings Growth Rate Market Cap Weighted Average 14.5%
Europe Tech Industry Revenue Growth Rate Market Cap Weighted Average 8.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.7%
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:TPV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:TPV Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 9,148 178 22
2018-09-30 9,473 -29
2018-06-30 9,722 322 -61
2018-03-31 9,700 -68
2017-12-31 9,585 -114 -51
2017-09-30 9,627 -2
2017-06-30 9,605 -240 36
2017-03-31 9,673 59
2016-12-31 9,808 315 39
2016-09-30 10,202 80
2016-06-30 10,529 547 35
2016-03-31 10,869 14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • TPV Technology's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if TPV Technology is high growth as no revenue estimate data is available.
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:TPV 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 0 Analyst Estimates (S&P Global) See Below

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

DB:TPV Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.01
2018-09-30 -0.01
2018-06-30 -0.03
2018-03-31 -0.03
2017-12-31 -0.02
2017-09-30 0.00
2017-06-30 0.02
2017-03-31 0.03
2016-12-31 0.02
2016-09-30 0.03
2016-06-30 0.01
2016-03-31 0.01

*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 TPV Technology will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess TPV Technology'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
TPV Technology has a total score of 3/6, 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.

TPV Past Performance

  How has TPV Technology 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 TPV Technology's growth in the last year to its industry (Tech).
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.
  • TPV Technology has delivered over 20% year on year earnings growth in the past 5 years.
  • TPV Technology has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • TPV Technology has become profitable in the last year making it difficult to compare the Europe Tech industry average.
Earnings and Revenue History
TPV Technology'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 TPV Technology Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:TPV Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 9,147.64 21.91 549.29 176.86
2018-09-30 9,472.51 -29.27 557.55 176.29
2018-06-30 9,721.72 -61.21 562.86 179.98
2018-03-31 9,700.26 -68.50 568.03 180.60
2017-12-31 9,584.71 -50.61 621.11 179.50
2017-09-30 9,626.71 -2.17 552.88 181.33
2017-06-30 9,604.72 36.09 536.51 179.86
2017-03-31 9,673.47 58.72 544.35 179.58
2016-12-31 9,808.34 38.52 559.12 198.80
2016-09-30 10,201.54 80.03 575.01 204.53
2016-06-30 10,528.99 35.04 605.31 212.59
2016-03-31 10,869.40 14.25 609.88 223.62
2015-12-31 11,061.53 -31.34 623.85 214.67
2015-09-30 11,205.14 -35.75 626.01 211.83
2015-06-30 11,481.95 -22.81 679.20 223.92
2015-03-31 11,795.48 -10.97 717.62 233.23
2014-12-31 11,908.08 -5.46 741.86 272.08
2014-09-30 11,885.98 -37.16 804.27 277.71
2014-06-30 11,965.63 -69.01 783.70 281.58
2014-03-31 11,869.24 -92.80 795.89 284.95
2013-12-31 11,972.70 -47.25 799.48 263.17
2013-09-30 12,322.03 -33.86 783.09 305.81
2013-06-30 12,389.53 43.62 782.43 300.69
2013-03-31 12,301.47 87.38 766.62 318.92
2012-12-31 11,974.84 112.41 697.82 282.82
2012-09-30 11,241.16 115.76 653.15 217.84
2012-06-30 10,872.38 94.53 586.37 183.73

*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.
  • TPV Technology has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • TPV Technology used its assets less efficiently than the Europe Tech industry average last year based on Return on Assets.
  • TPV Technology has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess TPV Technology'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 Tech 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.
TPV Technology 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.

TPV Health

 How is TPV Technology'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 TPV Technology's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TPV Technology is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • TPV Technology's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of TPV Technology'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 5.9x 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 TPV Technology Company Filings, last reported 3 months ago.

DB:TPV Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,526.30 603.05 322.11
2018-09-30 1,463.33 525.27 439.46
2018-06-30 1,478.30 759.17 437.63
2018-03-31 1,545.22 656.23 499.65
2017-12-31 1,563.30 845.87 507.46
2017-09-30 1,611.26 587.78 478.37
2017-06-30 1,640.84 1,014.78 471.18
2017-03-31 1,698.30 636.88 559.41
2016-12-31 1,680.85 838.76 643.47
2016-09-30 1,646.76 467.57 471.13
2016-06-30 1,632.93 715.83 461.86
2016-03-31 1,608.07 729.63 720.92
2015-12-31 1,630.11 951.69 514.94
2015-09-30 1,573.59 679.12 587.37
2015-06-30 1,631.26 1,163.39 441.73
2015-03-31 1,640.44 796.07 452.40
2014-12-31 1,664.39 1,009.09 524.92
2014-09-30 1,631.78 685.55 521.75
2014-06-30 1,585.84 1,086.71 557.19
2014-03-31 1,597.60 610.76 491.59
2013-12-31 1,698.03 814.40 375.85
2013-09-30 1,706.20 606.75 230.07
2013-06-30 1,807.63 1,004.71 225.98
2013-03-31 1,897.99 405.63 375.10
2012-12-31 1,897.12 785.94 508.19
2012-09-30 1,888.90 503.57 462.55
2012-06-30 1,867.19 694.68 556.39
  • TPV Technology's level of debt (39.5%) 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 (47.9% vs 39.5% today).
  • Debt is well covered by operating cash flow (29.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.7x coverage).
X
Financial health checks
We assess TPV Technology'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. TPV Technology 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.

TPV Dividends

 What is TPV Technology'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
1.3%
Current annual income from TPV Technology dividends.
If you bought €2,000 of TPV Technology shares you are expected to receive €26 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?
  • TPV Technology's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • TPV Technology's dividend is below the markets top 25% of dividend payers in Germany (3.74%).
Upcoming dividend payment

Purchase TPV Technology before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:TPV 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 0 Analyst Estimates (S&P Global) See Below
Europe Tech Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 1.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
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:TPV Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-15 0.003 1.303
2018-03-15 0.001 1.110
2017-04-06 0.005 2.802
2017-03-16 0.005 1.885
2016-05-27 0.001 0.681
2015-04-09 0.001 0.831
2015-03-19 0.001 0.547
2014-03-19 0.001 0.635
2013-11-25 0.000 0.000
2013-09-12 0.000 0.000
2013-08-22 0.000 0.000
2013-03-21 0.014 5.969
2012-03-21 0.015 6.584
2011-08-24 0.020 7.774
2011-03-23 0.022 4.087
2010-08-26 0.020 3.240
2010-03-30 0.019 2.905
2009-09-01 0.011 1.723
2009-04-23 0.014 3.081
2009-04-20 0.014 4.120

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of TPV Technology's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess TPV Technology's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 TPV Technology afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TPV Technology has a total score of 1/6, see the detailed checks below.


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

TPV Management

 What is the CEO of TPV Technology'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
Jason Hsuan
COMPENSATION $530,000
AGE 74
TENURE AS CEO 20.3 years
CEO Bio

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 and business development. He has over 20 years of managerial experience in well-known multinational enterprises, which include General Electric Company and PepsiCo Inc. He serves as Chairman of Shanghai Standard Foods Co., Standard Investment (China) Ltd. and Standard Foods (China) Ltd. He has been an Executive Director of Standard Food Corp. since June 17, 2010. He serves as an Executive Director of TPV Technology Limited and Top Victory Investments Limited. He serves as Director of ENC. He serves as an Independent director of Array Inc. He serves as the Director of Standard Investment (China) Ltd. He served as a Non-Executive Director at Nanjing Panda Electronics Co. Ltd. from December 23, 2009 to June 30, 2015 and also served as its Independent Non-Executive Director. Dr. Hsuan graduated from the Department of Electrical Engineering of National Cheng Kung University, Taiwan in 1968. He holds a Doctorate Degree of Philosophy in Systems Engineering from the Polytechnic Institute of Brooklyn and a Master's degree in Systems Engineering from Boston University.

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

Jason Hsuan

TITLE
Chairman & CEO
COMPENSATION
$530K
AGE
74
TENURE
20.3 yrs

Shane Tyau

TITLE
CFO & Senior VP
AGE
61

Pi-Lu Wang

TITLE
COO & VP
AGE
45

Nai-Yung Chen

TITLE
Chief Information Officer & Senior VP
AGE
68

Chi-Tsung Hsieh

TITLE
Senior Vice President
AGE
66

Chen-Hua Tuan

TITLE
Senior Vice President
AGE
65

Saurabh Grover

TITLE
Country Head of India and SAARC Region

Kevin Wu

TITLE
Asia Pacific Head

Yi-Jen Chen

TITLE
Head of ODM TV BG & VP
AGE
53

Phyllis Lee

TITLE
Company Secretary
TENURE
12.8 yrs
Board of Directors Tenure

Average tenure and age of the TPV Technology board of directors in years:

5.1
Average Tenure
56
Average Age
  • The tenure for the TPV Technology board of directors is about average.
Board of Directors

Boon Teong Chan

TITLE
Independent Non-Executive Director
COMPENSATION
$116K
AGE
75
TENURE
20.9 yrs

Jason Hsuan

TITLE
Chairman & CEO
COMPENSATION
$530K
AGE
74
TENURE
20.3 yrs

Chia-Tai Ku

TITLE
Independent Non-Executive Director
COMPENSATION
$77K
AGE
75
TENURE
20.9 yrs

Chi Keung Wong

TITLE
Independent Non-Executive Director
COMPENSATION
$77K
AGE
63
TENURE
14.7 yrs

Jun Li

TITLE
Non-Executive Director
AGE
42
TENURE
5.1 yrs

Xianghui Bi

TITLE
Non-Executive Director
AGE
42
TENURE
3.7 yrs

Dongchen Zhang

TITLE
Non-Executive Director
AGE
55
TENURE
0.8 yrs

Guofei Xu

TITLE
Non-Executive Director
AGE
56
TENURE
0.8 yrs

Jie Sun

TITLE
Non-Executive Director
AGE
51
TENURE
0.1 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 TPV Technology'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. TPV Technology 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.

TPV News

Simply Wall St News

TPV Company Info

Description

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 certain components. It also produces and distributes LCM modules, mobile phones, and telecommunication products, as well all-in-one PC products. In addition, the company sells spare parts, phones, and tablets; and holds licenses to distribute Philips-branded TVs worldwide. TPV Technology Limited distributes its products under the AOC and Envision brands. It operates in Europe, the People’s Republic of China, North and South America, Asia, 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 headquartered in Kwun Tong, Hong Kong. TPV Technology Limited is considered a Red Chip company due to its listing on the Hong Kong Stock Exchange.

Details
Name: TPV Technology Limited
TPV
Exchange: DB
Founded: 1998
HK$449,514,431
2,345,636,139
Website: http://www.tpv-tech.com
Address: TPV Technology Limited
C-Bons International Center,
Units 1208-16,
Kwun Tong,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 903 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 08. Oct 1999
DB TPV Ordinary Shares Deutsche Boerse AG DE EUR 08. Oct 1999
SGX T18 Ordinary Shares Singapore Exchange SG SGD 08. Oct 1999
Number of employees
Current staff
Staff numbers
27,811
TPV Technology employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 20:44
End of day share price update: 2019/04/18 00:00
Last earnings filing: 2019/04/10
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.