Hiwin Technologies Corporation

TWSE:2049 Stock Report

Market Cap: NT$83.0b

Hiwin Technologies Valuation

Is 2049 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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2049 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2049 (NT$234.5) is trading below our estimate of fair value (NT$254.89)

Significantly Below Fair Value: 2049 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2049?

Key metric: As 2049 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2049. This is calculated by dividing 2049's market cap by their current earnings.
What is 2049's PE Ratio?
PE Ratio42x
EarningsNT$1.97b
Market CapNT$82.96b

Price to Earnings Ratio vs Peers

How does 2049's PE Ratio compare to its peers?

The above table shows the PE ratio for 2049 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39.6x
4583 Apex Dynamics
60xn/aNT$61.7b
1560 Kinik
47.7x35.4%NT$45.6b
3376 Shin Zu Shing
28.3x19.9%NT$35.2b
1590 Airtac International Group
22.5x11.9%NT$169.4b
2049 Hiwin Technologies
42x25.7%NT$83.0b

Price-To-Earnings vs Peers: 2049 is expensive based on its Price-To-Earnings Ratio (42x) compared to the peer average (39.6x).

Price to Earnings Ratio vs Industry

How does 2049's PE Ratio compare vs other companies in the TW Machinery Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
2049 42.0xIndustry Avg. 18.8xNo. of Companies22PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2049 is expensive based on its Price-To-Earnings Ratio (42x) compared to the TW Machinery industry average (18.8x).

Price to Earnings Ratio vs Fair Ratio

What is 2049'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.

2049 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio42x
Fair PE Ratio28.7x

Price-To-Earnings vs Fair Ratio: 2049 is expensive based on its Price-To-Earnings Ratio (42x) compared to the estimated Fair Price-To-Earnings Ratio (28.7x).

Analyst Price Targets

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

The above table shows the analyst 2049 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$234.50
NT$241.63
+3.0%
19.9%NT$310.00NT$155.00n/a16
Nov ’25NT$236.00
NT$225.87
-4.3%
20.7%NT$304.00NT$155.00n/a15
Oct ’25NT$214.50
NT$223.87
+4.4%
20.7%NT$304.00NT$155.00n/a15
Sep ’25NT$216.00
NT$226.73
+5.0%
21.2%NT$312.00NT$155.00n/a15
Aug ’25NT$211.00
NT$244.93
+16.1%
19.9%NT$319.00NT$160.00n/a15
Jul ’25NT$208.00
NT$250.50
+20.4%
19.6%NT$319.00NT$160.00n/a14
Jun ’25NT$222.50
NT$260.57
+17.1%
17.9%NT$319.00NT$160.00n/a14
May ’25NT$231.50
NT$271.21
+17.2%
17.7%NT$342.00NT$165.00n/a14
Apr ’25NT$275.00
NT$272.67
-0.8%
17.6%NT$342.00NT$165.00n/a15
Mar ’25NT$238.00
NT$266.50
+12.0%
18.0%NT$342.00NT$165.00n/a14
Feb ’25NT$221.50
NT$246.00
+11.1%
17.2%NT$340.00NT$180.00n/a14
Jan ’25NT$235.00
NT$246.07
+4.7%
18.1%NT$340.00NT$160.00n/a14
Dec ’24NT$227.50
NT$247.00
+8.6%
17.5%NT$340.00NT$160.00n/a15
Nov ’24NT$196.00
NT$248.20
+26.6%
17.3%NT$340.00NT$160.00NT$236.0015
Oct ’24NT$203.50
NT$252.80
+24.2%
17.0%NT$340.00NT$160.00NT$214.5015
Sep ’24NT$202.00
NT$261.56
+29.5%
13.3%NT$340.00NT$205.00NT$216.0016
Aug ’24NT$216.00
NT$286.63
+32.7%
12.1%NT$360.00NT$231.00NT$211.0016
Jul ’24NT$237.50
NT$290.38
+22.3%
11.1%NT$360.00NT$231.00NT$208.0016
Jun ’24NT$234.00
NT$290.38
+24.1%
11.1%NT$360.00NT$231.00NT$222.5016
May ’24NT$235.00
NT$289.64
+23.3%
13.5%NT$360.00NT$200.00NT$231.5014
Apr ’24NT$250.50
NT$287.86
+14.9%
13.7%NT$360.00NT$200.00NT$275.0014
Mar ’24NT$248.00
NT$271.00
+9.3%
20.0%NT$360.00NT$148.00NT$238.0013
Feb ’24NT$225.00
NT$214.42
-4.7%
22.7%NT$329.00NT$148.00NT$221.5012
Jan ’24NT$182.50
NT$199.15
+9.1%
21.1%NT$329.00NT$148.00NT$235.0013
Dec ’23NT$193.00
NT$210.87
+9.3%
21.9%NT$329.00NT$148.00NT$227.5015
Nov ’23NT$169.00
NT$231.36
+36.9%
19.1%NT$329.00NT$154.00NT$196.0014

Analyst Forecast: Target price is less than 20% higher than the current share price.

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