Techpoint (TSE:6697) - Share price, News & Analysis

6697 fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	4/6
Past Performance	5/6
Financial Health	6/6
Dividends	0/6

6697 Stock Overview

Techpoint, Inc., a fabless semiconductor company, designs, markets, and sells mixed-signal integrated circuits for various video applications in the security surveillance and automotive markets.

Rewards

Trading at 77.6% below our estimate of its fair value

Earnings are forecast to grow 9.33% per year

Earnings grew by 150.8% over the past year

Risk Analysis

High level of non-cash earnings

Volatile share price over the past 3 months

Techpoint Competitors

Texas Instruments

NasdaqGS:TXN

US$156.7b

Shanghai Fullhan Microelectronics

SZSE:300613

CN¥15.2b

NEXTCHIP

KOSDAQ:A092600

₩97.9b

Pixelplus

KOSDAQ:A087600

₩69.8b

Price History & Performance

Summary of all time highs, changes and price drops for Techpoint
Historical stock prices
Current Share Price	JP¥921.00
52 Week High	JP¥2,420.00
52 Week Low	JP¥876.00
Beta	2.61
1 Month Change	-8.72%
3 Month Change	-18.86%
1 Year Change	-53.84%
3 Year Change	39.33%
5 Year Change	n/a
Change since IPO	-32.87%

Shareholder Returns

	6697	JP Semiconductor	JP Market
7D	-6.0%	2.0%	1.5%
1Y	-53.8%	13.7%	-2.7%

Return vs Industry: 6697 underperformed the JP Semiconductor industry which returned 13.7% over the past year.

Return vs Market: 6697 underperformed the JP Market which returned -2.7% over the past year.

Price Volatility

Is 6697's price volatile compared to industry and market?
6697 volatility
6697 Average Weekly Movement	6.6%
Semiconductor Industry Average Movement	6.3%
Market Average Movement	4.5%
10% most volatile stocks in JP Market	8.9%
10% least volatile stocks in JP Market	2.5%

Stable Share Price: 6697 is more volatile than 75% of JP stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 6697's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of JP stocks.

About the Company

Founded	Employees	CEO	Website
2012	76	Fumihiro Kozato	https://www.techpoint.co.jp

Techpoint, Inc., a fabless semiconductor company, designs, markets, and sells mixed-signal integrated circuits for various video applications in the security surveillance and automotive markets. Its integrated circuits enable the transmission of high definition (HD) video content over long cable distances to facilitate the display, storage, or processing of video content. The company’s products include HD-TVI transmitters and receivers, HD-SDI receivers, automotive camera processors, and HD LCD controllers.

Techpoint Fundamentals Summary

How do Techpoint's earnings and revenue compare to its market cap?
6697 fundamental statistics
Market Cap	US$135.89m
Earnings (TTM)	US$17.81m
Revenue (TTM)	US$66.18m

7.3x

P/E Ratio

2.0x

P/S Ratio

Is 6697 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
6697 income statement (TTM)
Revenue	US$66.18m
Cost of Revenue	US$29.66m
Gross Profit	US$36.52m
Other Expenses	US$18.71m
Earnings	US$17.81m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.99
Gross Margin	55.19%
Net Profit Margin	26.91%
Debt/Equity Ratio	0%

How did 6697 perform over the long term?

See historical performance and comparison

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 6697 (¥921) is trading below our estimate of fair value (¥4104.76)

Significantly Below Fair Value: 6697 is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: 6697 is good value based on its Price-To-Earnings Ratio (7.3x) compared to the JP Semiconductor industry average (11.8x).

PE vs Market: 6697 is good value based on its Price-To-Earnings Ratio (7.3x) compared to the JP market (12.4x).

Price to Earnings Growth Ratio

PEG Ratio: 6697 is good value based on its PEG Ratio (0.8x)

Price to Book Ratio

PB vs Industry: 6697 is overvalued based on its Price-To-Book Ratio (2.3x) compared to the JP Semiconductor industry average (1.5x).

Future Growth

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

Future Growth Score

4/6

Future Growth Score 4/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

9.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6697's forecast earnings growth (9.3% per year) is above the savings rate (0.02%).

Earnings vs Market: 6697's earnings (9.3% per year) are forecast to grow faster than the JP market (8.8% per year).

High Growth Earnings: 6697's earnings are forecast to grow, but not significantly.

Revenue vs Market: 6697's revenue (7.1% per year) is forecast to grow faster than the JP market (4.1% per year).

High Growth Revenue: 6697's revenue (7.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 6697's Return on Equity is forecast to be high in 3 years time (27.9%)

Past Performance

How has Techpoint performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

60.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 6697 has a high level of non-cash earnings.

Growing Profit Margin: 6697's current net profit margins (26.9%) are higher than last year (17.2%).

Past Earnings Growth Analysis

Earnings Trend: 6697's earnings have grown significantly by 60% per year over the past 5 years.

Accelerating Growth: 6697's earnings growth over the past year (150.8%) exceeds its 5-year average (60% per year).

Earnings vs Industry: 6697 earnings growth over the past year (150.8%) exceeded the Semiconductor industry 100.7%.

Return on Equity

High ROE: 6697's Return on Equity (31.4%) is considered high.

Financial Health

How is Techpoint's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 6697's short term assets ($58.5M) exceed its short term liabilities ($6.1M).

Long Term Liabilities: 6697's short term assets ($58.5M) exceed its long term liabilities ($565.0K).

Debt to Equity History and Analysis

Debt Level: 6697 is debt free.

Reducing Debt: 6697 has not had any debt for past 5 years.

Debt Coverage: 6697 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 6697 has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is Techpoint current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

6.94%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate 6697's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 6697's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 6697's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 6697's dividend payments have been increasing.

Earnings Payout to Shareholders

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

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 6697 has not reported any payouts.

Discover strong dividend paying companies

Management

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

2.6yrs

Average management tenure

CEO

Fumihiro Kozato (62 yo)

10.33yrs

Tenure

US$228,750

Compensation

Mr. Fumihiro Kozato co-founded Techpoint, Inc. in 2012 and has been its President and Chief Executive Officer and serves as its Chairman. Mr. Kozato has industry experience. He founded Techwell LLC in 1997...

CEO Compensation Analysis

Compensation vs Market: Fumihiro's total compensation ($USD228.75K) is below average for companies of similar size in the JP market ($USD1.13M).

Compensation vs Earnings: Fumihiro's compensation has increased by more than 20% in the past year.

Leadership Team

Experienced Management: 6697's management team is considered experienced (2.6 years average tenure).

Board Members

Experienced Board: 6697's board of directors are considered experienced (6.1 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.

Ownership Breakdown

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

Data	Last Updated (UTC time)
Company Analysis	2022/05/24 00:00
End of Day Share Price	2022/05/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31