Tainan Spinning Valuation

Q: What is the Fair Price of 1440 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

1440 (NT$15.05) is trading above our estimate of [[fair value]] (NT$5.62)

Is 1440 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

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 1440 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1440 (NT$15.05) is trading above our estimate of fair value (NT$5.62)

Significantly Below Fair Value: 1440 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1440?

Key metric: As 1440 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1440. This is calculated by dividing 1440's market cap by their current earnings.
What is 1440's PE Ratio?
PE Ratio	10x
Earnings	NT$2.50b
Market Cap	NT$24.94b

1440 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	1.8x
Enterprise Value/EBITDA	143.5x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 1440's PE Ratio compare to its peers?

The above table shows the PE ratio for 1440 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	19.5x
9938 Taiwan Paiho	18.5x	18.7%	NT$23.2b
1434 Formosa Taffeta	27.8x	n/a	NT$34.2b
1419 Shinkong Textile	21.1x	n/a	NT$13.6b
2915 Ruentex Industries	10.7x	n/a	NT$84.2b
1440 Tainan Spinning	10x	n/a	NT$24.9b

Price-To-Earnings vs Peers: 1440 is good value based on its Price-To-Earnings Ratio (10x) compared to the peer average (19.5x).

Price to Earnings Ratio vs Industry

How does 1440's PE Ratio compare vs other companies in the TW Luxury Industry?

3 Companies	Price / Earnings	Estimated Growth	Market Cap
1446 Hong Ho Precision TextileLtd	4.9x	n/a	US$209.64m
1445 Universal Textile	2.3x	n/a	US$67.91m
4420 Kwang Ming Silk Mill	1.1x	n/a	US$65.32m

No more companies available in this PE range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 1440 is good value based on its Price-To-Earnings Ratio (10x) compared to the TW Luxury industry average (22.8x).

Price to Earnings Ratio vs Fair Ratio

What is 1440'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.

1440 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	10x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 1440's Price-To-Earnings 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.