TSEC:1319

Stock Analysis Report

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Tong Yang IndustryLtd

Executive Summary

Tong Yang Industry Co.,Ltd. manufactures and sells automobile and motorcycle components in Taiwan, China, the United States, and Europe. More Details


Snowflake Analysis

Flawless balance sheet with reasonable growth potential.

Share Price & News

How has Tong Yang IndustryLtd's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 1319 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 1319's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

1.2%

1319

1.6%

TW Auto Components

1.9%

TW Market


1 Year Return

-13.2%

1319

2.5%

TW Auto Components

21.4%

TW Market

Return vs Industry: 1319 underperformed the TW Auto Components industry which returned 2.3% over the past year.

Return vs Market: 1319 underperformed the TW Market which returned 20.2% over the past year.


Shareholder returns

1319IndustryMarket
7 Day1.2%1.6%1.9%
30 Day1.8%16.0%10.9%
90 Day-1.3%11.6%9.4%
1 Year-9.1%-13.2%5.8%2.5%25.7%21.4%
3 Year-20.8%-30.4%-5.9%-14.9%49.9%33.2%
5 Year23.8%2.2%-2.1%-17.4%101.8%66.4%

Long-Term Price Volatility Vs. Market

How volatile is Tong Yang IndustryLtd's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Tong Yang IndustryLtd undervalued compared to its fair value and its price relative to the market?

20.21x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 1319 (NT$38.75) is trading above our estimate of fair value (NT$38.58)

Significantly Below Fair Value: 1319 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 1319 is good value based on its PE Ratio (20.2x) compared to the TW Auto Components industry average (27.5x).

PE vs Market: 1319 is poor value based on its PE Ratio (20.2x) compared to the TW market (18.6x).


Price to Earnings Growth Ratio

PEG Ratio: 1319 is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: 1319 is good value based on its PB Ratio (1.1x) compared to the TW Auto Components industry average (1.5x).


Next Steps

Future Growth

How is Tong Yang IndustryLtd forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

32.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1319's forecast earnings growth (32.6% per year) is above the savings rate (0.9%).

Earnings vs Market: 1319's earnings (32.6% per year) are forecast to grow faster than the TW market (16.7% per year).

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

Revenue vs Market: 1319's revenue (10.5% per year) is forecast to grow faster than the TW market (9.4% per year).

High Growth Revenue: 1319's revenue (10.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1319's Return on Equity is forecast to be low in 3 years time (9%).


Next Steps

Past Performance

How has Tong Yang IndustryLtd performed over the past 5 years?

-3.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1319 has high quality earnings.

Growing Profit Margin: 1319's current net profit margins (6.1%) are lower than last year (9.2%).


Past Earnings Growth Analysis

Earnings Trend: 1319's earnings have declined by 3.5% per year over the past 5 years.

Accelerating Growth: 1319's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1319 had negative earnings growth (-42.3%) over the past year, making it difficult to compare to the Auto Components industry average (-40.9%).


Return on Equity

High ROE: 1319's Return on Equity (4.7%) is considered low.


Next Steps

Financial Health

How is Tong Yang IndustryLtd's financial position?


Financial Position Analysis

Short Term Liabilities: 1319's short term assets (NT$8.1B) exceed its short term liabilities (NT$7.1B).

Long Term Liabilities: 1319's short term assets (NT$8.1B) exceed its long term liabilities (NT$6.3B).


Debt to Equity History and Analysis

Debt Level: 1319's debt to equity ratio (37.3%) is considered satisfactory.

Reducing Debt: 1319's debt to equity ratio has reduced from 56.2% to 37.3% over the past 5 years.

Debt Coverage: 1319's debt is well covered by operating cash flow (68.6%).

Interest Coverage: 1319's interest payments on its debt are well covered by EBIT (7.3x coverage).


Balance Sheet


Next Steps

Dividend

What is Tong Yang IndustryLtd current dividend yield, its reliability and sustainability?

4.65%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 1319's dividend (4.65%) is higher than the bottom 25% of dividend payers in the TW market (2.1%).

High Dividend: 1319's dividend (4.65%) is low compared to the top 25% of dividend payers in the TW market (5.17%).


Stability and Growth of Payments

Stable Dividend: 1319's dividend payments have been volatile in the past 10 years.

Growing Dividend: 1319's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (93.9%), 1319's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 1319's dividends in 3 years are forecast to be well covered by earnings (48.9% payout ratio).


Next Steps

Management

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

10.2yrs

Average management tenure


CEO

Crispin Wu

9.17yrs

Tenure

Mr. Crispin Wu served as the Chief Executive Officer and Director at Tong Yang Industry Co., Ltd. since October 2011 and serves as its President. Mr. Wu serves as Chairman Nanjing Tong Yang Plastic Product...


Leadership Team

NamePositionTenureCompensationOwnership
Yong Xiang Wu
President and General Manager9.17yrsno data8.5%
NT$ 2.0b
Jin Xi Chen
Head of Finance & Accounting and Deputy General Manager of the Business Division11.17yrsno data0.00021%
NT$ 48.8k
Shu Zhen Ling
Head of Audit8.83yrsno datano data
Ming-He Yang
Deputy General Managerno datano data0.00024%
NT$ 55.8k
Qi Bin Wang
Deputy General Manager of Business Division and Director24.75yrsno data0.023%
NT$ 5.4m

10.2yrs

Average Tenure

Experienced Management: 1319's management team is seasoned and experienced (10.2 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.


Top Shareholders

Company Information

Tong Yang Industry Co.,Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tong Yang Industry Co.,Ltd.
  • Ticker: 1319
  • Exchange: TSEC
  • Founded: 1952
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: NT$23.245b
  • Shares outstanding: 591.48m
  • Website: https://www.tyg.com.tw

Location

  • Tong Yang Industry Co.,Ltd.
  • No. 98, Anhe Road
  • Section 2; Annan District
  • Tainan City
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1319TSEC (Taiwan Stock Exchange)YesCommon StockTWTWDAug 1995

Biography

Tong Yang Industry Co.,Ltd. manufactures and sells automobile and motorcycle components in Taiwan, China, the United States, and Europe. The company offers automobile and motorcycle products, including pla...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/02 08:34
End of Day Share Price2020/12/02 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.