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2634

Aerospace Industrial Development TWSE:2634 Stock Report

Last Price

NT$32.35

Market Cap

NT$30.5b

7D

3.9%

1Y

11.6%

Updated

30 Jun, 2022

Data

Company Financials +
2634 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth5/6
Past Performance4/6
Financial Health4/6
Dividends0/6

2634 Stock Overview

Aerospace Industrial Development Corporation engages in the development, manufacturing, integration, assembly, and testing and verification of aircraft systems and parts in Taiwan and internationally.

Aerospace Industrial Development Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Aerospace Industrial Development
Historical stock prices
Current Share PriceNT$32.35
52 Week HighNT$39.50
52 Week LowNT$27.20
Beta0.43
1 Month Change-5.13%
3 Month Change10.22%
1 Year Change11.55%
3 Year Change-5.13%
5 Year Change-6.16%
Change since IPO11.82%

Recent News & Updates

Shareholder Returns

2634TW Aerospace & DefenseTW Market
7D3.9%2.0%-0.5%
1Y11.6%8.9%-13.8%

Return vs Industry: 2634 exceeded the TW Aerospace & Defense industry which returned 8.9% over the past year.

Return vs Market: 2634 exceeded the TW Market which returned -13.8% over the past year.

Price Volatility

Is 2634's price volatile compared to industry and market?
2634 volatility
2634 Average Weekly Movement6.4%
Aerospace & Defense Industry Average Movement6.2%
Market Average Movement4.7%
10% most volatile stocks in TW Market8.2%
10% least volatile stocks in TW Market2.3%

Stable Share Price: 2634 is more volatile than 75% of TW stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 2634's weekly volatility (6%) has been stable over the past year, but is still higher than 75% of TW stocks.

About the Company

FoundedEmployeesCEOWebsite
1969n/aWan-June Mahttps://www.aidc.com.tw

Aerospace Industrial Development Corporation engages in the development, manufacturing, integration, assembly, and testing and verification of aircraft systems and parts in Taiwan and internationally. The company provides military aircrafts and helicopters, commercial aviation, and aero/industrial engines. It engages in the manufacturing maintenance and upgradation of military aircrafts, commercial maintenance of air fleets, and production of military hardware, as well as military aircraft engines.

Aerospace Industrial Development Fundamentals Summary

How do Aerospace Industrial Development's earnings and revenue compare to its market cap?
2634 fundamental statistics
Market CapNT$30.47b
Earnings (TTM)NT$1.03b
Revenue (TTM)NT$24.84b

29.7x

P/E Ratio

1.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2634 income statement (TTM)
RevenueNT$24.84b
Cost of RevenueNT$22.67b
Gross ProfitNT$2.17b
Other ExpensesNT$1.15b
EarningsNT$1.03b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.09
Gross Margin8.74%
Net Profit Margin4.13%
Debt/Equity Ratio117.3%

How did 2634 perform over the long term?

See historical performance and comparison

Dividends

1.1%

Current Dividend Yield

32%

Payout Ratio

Does 2634 pay a reliable dividends?

See 2634 dividend history and benchmarks
When do you need to buy 2634 by to receive an upcoming dividend?
Aerospace Industrial Development dividend dates
Ex Dividend DateJul 12 2022
Dividend Pay DateAug 04 2022
Days until Ex dividend11 days
Days until Dividend pay date34 days

Does 2634 pay a reliable dividends?

See 2634 dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is 2634 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 2634?

Other financial metrics that can be useful for relative valuation.

2634 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/Revenue1.9x
Enterprise Value/EBITDA23.6x
PEG Ratio0.5x

Price to Earnings Ratio vs Peers

How does 2634's PE Ratio compare to its peers?

2634 PE Ratio vs Peers
The above table shows the PE ratio for 2634 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average45.7x
2645 Evergreen Aviation Technologies
28.4xn/aNT$25.0b
4572 Drewloong Precision
51.8xn/aNT$4.4b
2630 Air Asia
65.2xn/aNT$2.5b
4541 Magnate Technology
35.2xn/aNT$1.8b
2634 Aerospace Industrial Development
29.7x56.5%NT$30.5b

Price-To-Earnings vs Peers: 2634 is good value based on its Price-To-Earnings Ratio (29.7x) compared to the peer average (45.7x).


Price to Earnings Ratio vs Industry

How does 2634's PE Ratio compare vs other companies in the Asian Aerospace & Defense Industry?

Price-To-Earnings vs Industry: 2634 is good value based on its Price-To-Earnings Ratio (29.7x) compared to the TW Aerospace & Defense industry average (37x)


Price to Earnings Ratio vs Fair Ratio

What is 2634'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.

2634 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29.7x
Fair PE Ratio39.4x

Price-To-Earnings vs Fair Ratio: 2634 is good value based on its Price-To-Earnings Ratio (29.7x) compared to the estimated Fair Price-To-Earnings Ratio (39.4x).


Share Price vs Fair Value

What is the Fair Price of 2634 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2634 (NT$32.35) is trading above our estimate of fair value (NT$27.21)

Significantly Below Fair Value: 2634 is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: 2634 is good value based on its PEG Ratio (0.5x)


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Future Growth

How is Aerospace Industrial Development forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


56.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2634's forecast earnings growth (56.5% per year) is above the savings rate (0.7%).

Earnings vs Market: 2634's earnings (56.5% per year) are forecast to grow faster than the TW market (7.4% per year).

High Growth Earnings: 2634's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 2634's revenue (23.7% per year) is forecast to grow faster than the TW market (7.7% per year).

High Growth Revenue: 2634's revenue (23.7% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 2634's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has Aerospace Industrial Development performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-24.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 2634 has high quality earnings.

Growing Profit Margin: 2634's current net profit margins (4.1%) are higher than last year (0.4%).


Past Earnings Growth Analysis

Earnings Trend: 2634's earnings have declined by 24.5% per year over the past 5 years.

Accelerating Growth: 2634's earnings growth over the past year (1220.4%) exceeds its 5-year average (-24.5% per year).

Earnings vs Industry: 2634 earnings growth over the past year (1220.4%) exceeded the Aerospace & Defense industry 14.7%.


Return on Equity

High ROE: 2634's Return on Equity (7%) is considered low.


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Financial Health

How is Aerospace Industrial Development's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 2634's short term assets (NT$25.8B) exceed its short term liabilities (NT$15.0B).

Long Term Liabilities: 2634's short term assets (NT$25.8B) exceed its long term liabilities (NT$10.1B).


Debt to Equity History and Analysis

Debt Level: 2634's net debt to equity ratio (104.7%) is considered high.

Reducing Debt: 2634's debt to equity ratio has increased from 97.4% to 117.3% over the past 5 years.

Debt Coverage: 2634's debt is well covered by operating cash flow (31.7%).

Interest Coverage: 2634's interest payments on its debt are well covered by EBIT (6.4x coverage).


Balance Sheet


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Dividend

What is Aerospace Industrial Development current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.08%

Current Dividend Yield

Upcoming Dividend Payment

TodayJul 01 2022Ex Dividend DateJul 12 2022Dividend Pay DateAug 04 202223 days from Ex DividendBuy in the next 11 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: 2634's dividend (1.08%) isn’t notable compared to the bottom 25% of dividend payers in the TW market (2.57%).

High Dividend: 2634's dividend (1.08%) is low compared to the top 25% of dividend payers in the TW market (6.35%).


Stability and Growth of Payments

Stable Dividend: 2634 is not paying a notable dividend for the TW market, therefore no need to check if payments are stable.

Growing Dividend: 2634 is not paying a notable dividend for the TW market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: 2634 is not paying a notable dividend for the TW market.


Cash Payout to Shareholders

Cash Flow Coverage: 2634 is not paying a notable dividend for the TW market.


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Management

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

3.8yrs

Average management tenure


CEO

Wan-June Ma

3.25yrs

Tenure

Mr. Wan-June Ma serves as Executive Director and President at Aerospace Industrial Development Corporation since March 18, 2019.


Leadership Team

Experienced Management: 2634's management team is considered experienced (3.8 years average tenure).


Board Members

Experienced Board: 2634's board of directors are considered experienced (3.3 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

Aerospace Industrial Development Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Aerospace Industrial Development Corporation
  • Ticker: 2634
  • Exchange: TWSE
  • Founded: 1969
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Implied Market Cap: NT$30.469b
  • Shares outstanding: 941.87m
  • Website: https://www.aidc.com.tw

Number of Employees


Location

  • Aerospace Industrial Development Corporation
  • No. 1, Hanxiang Road
  • Xitun District
  • Taichung
  • 407803
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/30 00:00
Earnings2022/03/31
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.