Evergreen Aviation Technologies Corporation

TWSE:2645 Stock Report

Market Cap: NT$34.4b

Evergreen Aviation Technologies Valuation

Is 2645 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 2645 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2645 (NT$91.8) is trading below our estimate of fair value (NT$231.66)

Significantly Below Fair Value: 2645 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2645?

Key metric: As 2645 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2645. This is calculated by dividing 2645's market cap by their current earnings.
What is 2645's PE Ratio?
PE Ratio20.4x
EarningsNT$1.69b
Market CapNT$34.39b

Price to Earnings Ratio vs Peers

How does 2645's PE Ratio compare to its peers?

The above table shows the PE ratio for 2645 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.3x
2634 Aerospace Industrial Development
21.5x33.2%NT$40.6b
2630 Air Asia
44.3xn/aNT$6.4b
4572 Drewloong Precision
22.7x15.4%NT$5.9b
4546 Chaheng Precision
20.9xn/aNT$3.1b
2645 Evergreen Aviation Technologies
20.4x12.5%NT$34.4b

Price-To-Earnings vs Peers: 2645 is good value based on its Price-To-Earnings Ratio (20.4x) compared to the peer average (27.3x).

Price to Earnings Ratio vs Industry

How does 2645's PE Ratio compare vs other companies in the Asian Aerospace & Defense Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
2645 20.4xIndustry Avg. 48.1xNo. of Companies8PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2645 is good value based on its Price-To-Earnings Ratio (20.4x) compared to the Asian Aerospace & Defense industry average (48.1x).

Price to Earnings Ratio vs Fair Ratio

What is 2645'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.

2645 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.4x
Fair PE Ratio18.1x

Price-To-Earnings vs Fair Ratio: 2645 is expensive based on its Price-To-Earnings Ratio (20.4x) compared to the estimated Fair Price-To-Earnings Ratio (18.1x).

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 2645 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$91.80
NT$123.50
+34.5%
10.1%NT$136.00NT$111.00n/a2
Nov ’25NT$94.40
NT$123.50
+30.8%
10.1%NT$136.00NT$111.00n/a2
Oct ’25NT$97.20
NT$130.50
+34.3%
4.2%NT$136.00NT$125.00n/a2
Sep ’25NT$99.80
NT$130.50
+30.8%
4.2%NT$136.00NT$125.00n/a2
Aug ’25NT$103.50
NT$141.00
+36.2%
11.3%NT$157.00NT$125.00n/a2
Jul ’25NT$114.00
NT$142.00
+24.6%
10.6%NT$157.00NT$127.00n/a2
Jun ’25NT$109.00
NT$142.00
+30.3%
10.6%NT$157.00NT$127.00n/a2
May ’25NT$110.00
NT$140.00
+27.3%
12.1%NT$157.00NT$123.00n/a2
Apr ’25NT$110.50
NT$140.00
+26.7%
12.1%NT$157.00NT$123.00n/a2
Oct ’24NT$106.00
NT$134.00
+26.4%
19.4%NT$160.00NT$108.00NT$97.202
Sep ’24NT$129.50
NT$134.00
+3.5%
19.4%NT$160.00NT$108.00NT$99.802
Aug ’24NT$106.50
NT$124.00
+16.4%
12.9%NT$140.00NT$108.00NT$103.502
Jul ’24NT$112.00
NT$124.00
+10.7%
12.9%NT$140.00NT$108.00NT$114.002
Jun ’24NT$107.50
NT$124.00
+15.3%
12.9%NT$140.00NT$108.00NT$109.002

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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