TSEC:3004

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National Aerospace Fasteners

Executive Summary

National Aerospace Fasteners Corporation manufactures and sells fastener products for the aerospace, electronics, and high-end industrial sectors in Taiwan and internationally. More Details


Snowflake Analysis

Mediocre balance sheet and slightly overvalued.

Share Price & News

How has National Aerospace Fasteners's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 3004 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 3004's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

5.7%

3004

0.5%

TW Machinery

0.9%

TW Market


1 Year Return

-41.3%

3004

16.1%

TW Machinery

18.7%

TW Market

Return vs Industry: 3004 underperformed the TW Machinery industry which returned 16.1% over the past year.

Return vs Market: 3004 underperformed the TW Market which returned 18.7% over the past year.


Shareholder returns

3004IndustryMarket
7 Day5.7%0.5%0.9%
30 Day16.4%5.2%7.1%
90 Day3.4%3.0%8.2%
1 Year-38.3%-41.3%19.4%16.1%23.0%18.7%
3 Year32.4%18.0%14.9%4.4%44.9%28.8%
5 Year23.1%3.0%100.4%68.8%94.4%60.3%

Long-Term Price Volatility Vs. Market

How volatile is National Aerospace Fasteners's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is National Aerospace Fasteners undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 3004 (NT$57.6) is trading below our estimate of fair value (NT$426.94)

Significantly Below Fair Value: 3004 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 3004 is poor value based on its PE Ratio (19.4x) compared to the TW Machinery industry average (16.9x).

PE vs Market: 3004 is poor value based on its PE Ratio (19.4x) compared to the TW market (18.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 3004's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 3004's PB Ratio (1.6x) is in line with the TW Machinery industry average.


Next Steps

Future Growth

How is National Aerospace Fasteners forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

23.2%

Forecasted Capital Goods 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 National Aerospace Fasteners 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.


Next Steps

Past Performance

How has National Aerospace Fasteners performed over the past 5 years?

8.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 3004 has high quality earnings.

Growing Profit Margin: 3004's current net profit margins (7.6%) are lower than last year (13.1%).


Past Earnings Growth Analysis

Earnings Trend: 3004's earnings have grown by 8.2% per year over the past 5 years.

Accelerating Growth: 3004's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 3004 had negative earnings growth (-56.8%) over the past year, making it difficult to compare to the Machinery industry average (-10.4%).


Return on Equity

High ROE: 3004's Return on Equity (8.4%) is considered low.


Next Steps

Financial Health

How is National Aerospace Fasteners's financial position?


Financial Position Analysis

Short Term Liabilities: 3004's short term assets (NT$1.1B) exceed its short term liabilities (NT$565.6M).

Long Term Liabilities: 3004's short term assets (NT$1.1B) do not cover its long term liabilities (NT$2.1B).


Debt to Equity History and Analysis

Debt Level: 3004's debt to equity ratio (117.2%) is considered high.

Reducing Debt: 3004's debt to equity ratio has increased from 49.3% to 117.2% over the past 5 years.

Debt Coverage: 3004's debt is well covered by operating cash flow (31.1%).

Interest Coverage: 3004's interest payments on its debt are well covered by EBIT (6.6x coverage).


Balance Sheet


Next Steps

Dividend

What is National Aerospace Fasteners's current dividend yield, its reliability and sustainability?

4.64%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 3004's dividend (4.64%) is higher than the bottom 25% of dividend payers in the TW market (2.14%).

High Dividend: 3004's dividend (4.64%) is low compared to the top 25% of dividend payers in the TW market (5.23%).


Stability and Growth of Payments

Stable Dividend: 3004 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 3004's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (89.8%), 3004's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

1.7yrs

Average board tenure


CEO

Qiu Zhi Ke

12.58yrs

Tenure

Qiu Zhi Ke has been President of National Aerospace Fasteners Corporation since April 16, 2008. Qiu Zhi Ke served as Vice President, Production Center at MiTAC Inc. Qiu Zhi Ke serves as the Chairman of Boa...


Board Members

NamePositionTenureCompensationOwnership
Scott Miau
Director6.42yrsno datano data
Feng-Tzu Tsai
Chairman6.42yrsno datano data
Sung-Chu Chu
Director6.42yrsno datano data
C. Chou
Directorno datano datano data
F. Hsieh
Director0.33yrno datano data
Matthew Lee
Independent Director3yrsno datano data
Hsin-Cheh Chao
Independent Director0.33yrno datano data
Wun-Sho Wen
Independent Director0.33yrno datano data
Alvin Lin
Director0.33yrno datano data

1.7yrs

Average Tenure

Experienced Board: 3004's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.


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

National Aerospace Fasteners Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: National Aerospace Fasteners Corporation
  • Ticker: 3004
  • Exchange: TSEC
  • Founded: 1997
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: NT$3.032b
  • Shares outstanding: 52.65m
  • Website: https://www.nafco.com.tw

Location

  • National Aerospace Fasteners Corporation
  • No. 1, Taiping East Road
  • Pingzhen District
  • Taoyuan City
  • 32466
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3004TSEC (Taiwan Stock Exchange)YesCommon StockTWTWDFeb 2002

Biography

National Aerospace Fasteners Corporation manufactures and sells fastener products for the aerospace, electronics, and high-end industrial sectors in Taiwan and internationally. The company offers aero prod...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/27 08:44
End of Day Share Price2020/11/27 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.