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Cirtek Holdings Philippines PSE:TECH Stock Report

Last Price


Market Cap







01 Jul, 2022


Company Financials
TECH fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance1/6
Financial Health5/6

TECH Stock Overview

Cirtek Holdings Philippines Corporation, through its subsidiaries, operates as an independent subcontractor for semiconductor assembly, test, and packaging services in Asia, Europe, and the United States.

Cirtek Holdings Philippines Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Cirtek Holdings Philippines
Historical stock prices
Current Share Price₱2.69
52 Week High₱5.84
52 Week Low₱2.23
1 Month Change-4.61%
3 Month Change-15.41%
1 Year Change-53.30%
3 Year Change-83.10%
5 Year Change-90.45%
Change since IPO-28.27%

Recent News & Updates

Shareholder Returns

TECHPH SemiconductorPH Market

Return vs Industry: TECH underperformed the PH Semiconductor industry which returned -14.1% over the past year.

Return vs Market: TECH underperformed the PH Market which returned -9.7% over the past year.

Price Volatility

Is TECH's price volatile compared to industry and market?
TECH volatility
TECH Average Weekly Movement5.5%
Semiconductor Industry Average Movement6.6%
Market Average Movement5.4%
10% most volatile stocks in PH Market10.5%
10% least volatile stocks in PH Market3.1%

Stable Share Price: TECH is not significantly more volatile than the rest of PH stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: TECH's weekly volatility (6%) has been stable over the past year.

About the Company

19841,912Jorge Aguilar

Cirtek Holdings Philippines Corporation, through its subsidiaries, operates as an independent subcontractor for semiconductor assembly, test, and packaging services in Asia, Europe, and the United States. It primarily offers turnkey solutions, such as package design and development; wafer probing; wafer back grinding; assembly and packaging; final testing of semiconductor devices; and delivery and shipment to its end user customers. The company also provides protection products to protect electronic devices from damaging voltage or current spikes; light sensors that are optical devices, which sense the intensity of light and trigger the automatic switching on and off of headlights, and the automatic adjustment of air conditioning settings in cars; and real time clocks that are precision time keeping devices.

Cirtek Holdings Philippines Fundamentals Summary

How do Cirtek Holdings Philippines's earnings and revenue compare to its market cap?
TECH fundamental statistics
Market CapUS$31.17m
Earnings (TTM)US$1.30m
Revenue (TTM)US$67.19m


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TECH income statement (TTM)
Cost of RevenueUS$47.47m
Gross ProfitUS$19.72m
Other ExpensesUS$18.42m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date


Earnings per share (EPS)0.002
Gross Margin29.35%
Net Profit Margin1.94%
Debt/Equity Ratio40.2%

How did TECH perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is TECH undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TECH?

Other financial metrics that can be useful for relative valuation.

TECH key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.8x
Enterprise Value/EBITDA3.3x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does TECH's PE Ratio compare to its peers?

TECH PE Ratio vs Peers
The above table shows the PE ratio for TECH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average34.4x
SSP SFA Semicon Philippines
CVV CVD Equipment
A063760 ELP
TECH Cirtek Holdings Philippines

Price-To-Earnings vs Peers: TECH is good value based on its Price-To-Earnings Ratio (24.5x) compared to the peer average (34.4x).

Price to Earnings Ratio vs Industry

How does TECH's PE Ratio compare vs other companies in the Asian Semiconductor Industry?

Price-To-Earnings vs Industry: TECH is expensive based on its Price-To-Earnings Ratio (24.5x) compared to the Asian Semiconductor industry average (16.5x)

Price to Earnings Ratio vs Fair Ratio

What is TECH's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TECH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TECH's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of TECH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TECH (₱2.69) is trading below our estimate of fair value (₱67.6)

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

Price to Earnings Growth Ratio

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

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Future Growth

How is Cirtek Holdings Philippines forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted Semiconductors industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Cirtek Holdings Philippines has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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  • Examine whether Cirtek Holdings Philippines is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Cirtek Holdings Philippines performed over the past 5 years?

Past Performance Score


Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TECH has high quality earnings.

Growing Profit Margin: TECH's current net profit margins (1.9%) are lower than last year (4.8%).

Past Earnings Growth Analysis

Earnings Trend: TECH's earnings have declined by 8.4% per year over the past 5 years.

Accelerating Growth: TECH's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TECH had negative earnings growth (-60.9%) over the past year, making it difficult to compare to the Semiconductor industry average (66.5%).

Return on Equity

High ROE: TECH's Return on Equity (2.9%) is considered low.

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Financial Health

How is Cirtek Holdings Philippines's financial position?

Financial Health Score


Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: TECH's short term assets ($190.8M) exceed its short term liabilities ($79.4M).

Long Term Liabilities: TECH's short term assets ($190.8M) exceed its long term liabilities ($38.1M).

Debt to Equity History and Analysis

Debt Level: TECH's net debt to equity ratio (10%) is considered satisfactory.

Reducing Debt: TECH's debt to equity ratio has reduced from 194.8% to 40.2% over the past 5 years.

Debt Coverage: TECH's debt is well covered by operating cash flow (22.6%).

Interest Coverage: TECH's interest payments on its debt are not well covered by EBIT (2x coverage).

Balance Sheet

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What is Cirtek Holdings Philippines's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 1/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TECH's dividend (2.43%) is higher than the bottom 25% of dividend payers in the PH market (1.53%).

High Dividend: TECH's dividend (2.43%) is low compared to the top 25% of dividend payers in the PH market (4.9%).

Stability and Growth of Payments

Stable Dividend: TECH's dividend payments have been volatile in the past 10 years.

Growing Dividend: TECH's dividend payments have fallen over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: Unable to calculate sustainability of dividends as TECH has not reported any payouts.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (8.7%), TECH's dividend payments are thoroughly covered by cash flows.

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


Average management tenure


Jorge Aguilar (65 yo)



Mr. Jorge S. Aguilar has been Vice Chairman, President and Chief Executive Officer of Cirtek Holdings Philippines Corporation since May 10, 2019. He joined Cirtek Electronics Corporation in 1985. Mr. Aguil...

Leadership Team

Experienced Management: TECH's management team is considered experienced (2.4 years average tenure).

Board Members

Experienced Board: TECH's board of directors are considered experienced (5.2 years average tenure).


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 been substantially diluted in the past year, with total shares outstanding growing by 62.4%.

Top Shareholders

Company Information

Cirtek Holdings Philippines Corporation's employee growth, exchange listings and data sources

Key Information

  • Name: Cirtek Holdings Philippines Corporation
  • Ticker: TECH
  • Exchange: PSE
  • Founded: 1984
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Implied Market Cap: ₱1.714b
  • Shares outstanding: 649.23m
  • Website:

Number of Employees


  • Cirtek Holdings Philippines Corporation
  • 116 East Main Avenue
  • Phase V-SEZ
  • Binan City
  • 4024
  • Philippines


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/01 00:00
End of Day Share Price2022/07/01 00:00
Annual Earnings2021/12/31

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.