Bright Sheland International Valuation

Q: What is the Fair Price of 4556 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

4556 (NT$32.1) is trading above our estimate of [[fair value]] (NT$28.72)

Is 4556 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 4556 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4556 (NT$32.1) is trading above our estimate of fair value (NT$28.72)

Significantly Below Fair Value: 4556 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4556?

Key metric: As 4556 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 4556. This is calculated by dividing 4556's market cap by their current revenue.
What is 4556's PS Ratio?
PS Ratio	2x
Sales	NT$675.38m
Market Cap	NT$1.36b

4556 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/Revenue	2.6x
Enterprise Value/EBITDA	20.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 4556's PS Ratio compare to its peers?

The above table shows the PS ratio for 4556 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	1.4x
3379 Taiwan Benefit	1.4x	n/a	NT$1.2b
6641 GSD Technologies	0.7x	n/a	NT$1.3b
6843 JDV Control Valves	2.2x	n/a	NT$1.8b
2063 Sheh Kai Precision	1.4x	n/a	NT$1.7b
4556 Bright Sheland International	2x	n/a	NT$1.4b

Price-To-Sales vs Peers: 4556 is expensive based on its Price-To-Sales Ratio (2x) compared to the peer average (1.4x).

Price to Sales Ratio vs Industry

How does 4556's PS Ratio compare vs other companies in the TW Machinery Industry?

1 Company	Price / Sales	Estimated Growth	Market Cap
4578 Sogotec Precision	0.3x	n/a	US$8.09m

No more companies available in this PS range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 4556 is good value based on its Price-To-Sales Ratio (2x) compared to the TW Machinery industry average (2.2x).

Price to Sales Ratio vs Fair Ratio

What is 4556's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

4556 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 4556's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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