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1477

Makalot Industrial TWSE:1477 Stock Report

Last Price

NT$191.00

Market Cap

NT$45.5b

7D

1.1%

1Y

-13.8%

Updated

05 Oct, 2022

Data

Company Financials +
1477 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance6/6
Financial Health5/6
Dividends4/6

1477 Stock Overview

Makalot Industrial Co., Ltd. engages in the design, manufacture, and sale of garments for men, women, and children in Taiwan.

Makalot Industrial Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Makalot Industrial
Historical stock prices
Current Share PriceNT$191.00
52 Week HighNT$272.00
52 Week LowNT$134.00
Beta1.0
1 Month Change1.06%
3 Month Change29.93%
1 Year Change-13.77%
3 Year Change15.76%
5 Year Change50.22%
Change since IPO490.49%

Recent News & Updates

Shareholder Returns

1477TW LuxuryTW Market
7D1.1%-2.4%-1.7%
1Y-13.8%-18.3%-16.9%

Return vs Industry: 1477 exceeded the TW Luxury industry which returned -18.3% over the past year.

Return vs Market: 1477 exceeded the TW Market which returned -16.9% over the past year.

Price Volatility

Is 1477's price volatile compared to industry and market?
1477 volatility
1477 Average Weekly Movement6.0%
Luxury Industry Average Movement4.4%
Market Average Movement5.1%
10% most volatile stocks in TW Market8.3%
10% least volatile stocks in TW Market2.4%

Stable Share Price: 1477 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 1477's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1990n/aFrank Chouhttps://www.makalot.com.tw

Makalot Industrial Co., Ltd. engages in the design, manufacture, and sale of garments for men, women, and children in Taiwan. It offers activewear, casualwear and leisurewear, sleep and loungewear, gift sets, smart apparel, and medical/protective products. The company was incorporated in 1990 and is based in Taipei City, Taiwan.

Makalot Industrial Fundamentals Summary

How do Makalot Industrial's earnings and revenue compare to its market cap?
1477 fundamental statistics
Market CapNT$45.47b
Earnings (TTM)NT$3.08b
Revenue (TTM)NT$31.31b

15.0x

P/E Ratio

1.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
1477 income statement (TTM)
RevenueNT$31.31b
Cost of RevenueNT$23.82b
Gross ProfitNT$7.49b
Other ExpensesNT$4.41b
EarningsNT$3.08b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)12.74
Gross Margin23.92%
Net Profit Margin9.84%
Debt/Equity Ratio13.6%

How did 1477 perform over the long term?

See historical performance and comparison

Dividends

5.0%

Current Dividend Yield

75%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 1477 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1477?

Other financial metrics that can be useful for relative valuation.

1477 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/Revenue1.4x
Enterprise Value/EBITDA9.8x
PEG Ratio2.6x

Price to Earnings Ratio vs Peers

How does 1477's PE Ratio compare to its peers?

1477 PE Ratio vs Peers
The above table shows the PE ratio for 1477 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average14.2x
4438 Quang Viet Enterprise
19.2x37.0%NT$14.5b
8404 Paiho Shih Holdings
10.5xn/aNT$9.0b
1315 Tah Hsin Industrial
14.9xn/aNT$6.5b
8442 WW Holding
12.6xn/aNT$4.3b
1477 Makalot Industrial
15x5.9%NT$45.5b

Price-To-Earnings vs Peers: 1477 is expensive based on its Price-To-Earnings Ratio (15x) compared to the peer average (14.2x).


Price to Earnings Ratio vs Industry

How does 1477's PE Ratio compare vs other companies in the TW Luxury Industry?

Price-To-Earnings vs Industry: 1477 is good value based on its Price-To-Earnings Ratio (15x) compared to the TW Luxury industry average (15.4x)


Price to Earnings Ratio vs Fair Ratio

What is 1477'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.

1477 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15x
Fair PE Ratio13.6x

Price-To-Earnings vs Fair Ratio: 1477 is expensive based on its Price-To-Earnings Ratio (15x) compared to the estimated Fair Price-To-Earnings Ratio (13.6x).


Share Price vs Fair Value

What is the Fair Price of 1477 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1477 (NT$191) is trading below our estimate of fair value (NT$261.15)

Significantly Below Fair Value: 1477 is trading below fair value by more than 20%.


Analyst Price Targets

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

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


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Future Growth

How is Makalot Industrial forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


5.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1477's forecast earnings growth (5.9% per year) is above the savings rate (0.7%).

Earnings vs Market: 1477's earnings (5.9% per year) are forecast to grow slower than the TW market (6.8% per year).

High Growth Earnings: 1477's earnings are forecast to grow, but not significantly.

Revenue vs Market: 1477's revenue (6.6% per year) is forecast to grow slower than the TW market (7.7% per year).

High Growth Revenue: 1477's revenue (6.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1477's Return on Equity is forecast to be high in 3 years time (23.1%)


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Past Performance

How has Makalot Industrial performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


18.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1477 has high quality earnings.

Growing Profit Margin: 1477's current net profit margins (9.8%) are higher than last year (9.2%).


Past Earnings Growth Analysis

Earnings Trend: 1477's earnings have grown by 18.7% per year over the past 5 years.

Accelerating Growth: 1477's earnings growth over the past year (24.4%) exceeds its 5-year average (18.7% per year).

Earnings vs Industry: 1477 earnings growth over the past year (24.4%) exceeded the Luxury industry 8%.


Return on Equity

High ROE: 1477's Return on Equity (23.2%) is considered high.


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Financial Health

How is Makalot Industrial's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 1477's short term assets (NT$15.3B) exceed its short term liabilities (NT$7.4B).

Long Term Liabilities: 1477's short term assets (NT$15.3B) exceed its long term liabilities (NT$725.1M).


Debt to Equity History and Analysis

Debt Level: 1477 has more cash than its total debt.

Reducing Debt: 1477's debt to equity ratio has increased from 6.2% to 13.6% over the past 5 years.

Debt Coverage: 1477's debt is well covered by operating cash flow (171.1%).

Interest Coverage: 1477's interest payments on its debt are well covered by EBIT (207.3x coverage).


Balance Sheet


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Dividend

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

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


4.97%

Current Dividend Yield

Dividend Yield vs Market

Makalot Industrial Dividend Yield vs Market
How does Makalot Industrial dividend yield compare to the market?
SegmentDividend Yield
Company (Makalot Industrial)5.0%
Market Bottom 25% (TW)2.5%
Market Top 25% (TW)6.9%
Industry Average (Luxury)4.1%
Analyst forecast in 3 Years (Makalot Industrial)6.1%

Notable Dividend: 1477's dividend (4.97%) is higher than the bottom 25% of dividend payers in the TW market (2.55%).

High Dividend: 1477's dividend (4.97%) is low compared to the top 25% of dividend payers in the TW market (6.93%).


Stability and Growth of Payments

Stable Dividend: 1477's dividend payments have been volatile in the past 10 years.

Growing Dividend: 1477's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (74.6%), 1477's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (82.3%), 1477's dividend payments are covered by cash flows.


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Management

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

12.2yrs

Average management tenure


CEO

Frank Chou

32.83yrs

Tenure

Mr. Li-Ping Chou, also known as Frank, has been the Chairman of Makalot Industrial Co., Ltd., since June 22, 2011 and has been its Chief Executive Officer & President since February 1, 1990. Mr. Chou serve...


Leadership Team

Experienced Management: 1477's management team is seasoned and experienced (12.2 years average tenure).


Board Members

Experienced Board: 1477's board of directors are seasoned and experienced ( 19.9 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

What is the ownership structure of 1477?
Owner TypeNumber of SharesOwnership Percentage
Institutions70,856,36929.3%
General Public171,000,21270.7%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 28.67% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
6.96%
Cathay Securities Investment Trust Co Ltd.
16,828,424NT$3.2b0%0.96%
6.21%
Fubon Life Insurance Co., Ltd., Asset Management Arm
15,014,722NT$2.9b0%0.92%
3.29%
The Vanguard Group, Inc.
7,966,108NT$1.5b1.66%no data
2.96%
Nan Shan Life Insurance Co Ltd, Asset Management Arm
7,170,369NT$1.4b0%0.56%
1.3%
Dimensional Fund Advisors LP
3,149,391NT$601.5m1.32%no data
1.28%
abrdn plc
3,103,977NT$592.9m0%0.02%
1.23%
Value Partners Hong Kong Limited
2,970,000NT$567.3m0%0.5%
1.21%
Norges Bank Investment Management
2,929,008NT$559.4m0%no data
1.12%
BlackRock, Inc.
2,702,181NT$516.1m2.7%no data
0.55%
PGIM, Inc.
1,328,662NT$253.8m-29.77%0.01%
0.45%
J.P. Morgan Asset Management, Inc.
1,099,840NT$210.1m0.64%no data
0.27%
Value Partners Limited
652,000NT$124.5m0%0.43%
0.27%
FMR LLC
646,935NT$123.6m22.15%no data
0.27%
BNY Mellon Asset Management
643,486NT$122.9m2.94%no data
0.23%
Caisse de dépôt et placement du Québec
560,000NT$107.0m0%no data
0.19%
Amundi Asset Management
468,000NT$89.4m-2.09%no data
0.11%
Allianz Asset Management AG
278,076NT$53.1m-79.07%no data
0.11%
Eastspring Investments (Singapore) Limited
264,077NT$50.4m-86.66%0.01%
0.11%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
261,000NT$49.9m-5.43%no data
0.11%
Russell Investment Management, LLC
260,000NT$49.7m-12.46%no data
0.11%
State Street Global Advisors, Inc.
258,049NT$49.3m0%no data
0.091%
Mackenzie Financial Corporation
218,963NT$41.8m-0.15%no data
0.09%
1832 Asset Management L.P.
217,000NT$41.4m0%no data
0.083%
Franklin Resources, Inc.
199,937NT$38.2m0.11%no data
0.067%
Nomura Asset Management Co., Ltd.
161,200NT$30.8m0%no data

Company Information

Makalot Industrial Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Makalot Industrial Co., Ltd.
  • Ticker: 1477
  • Exchange: TWSE
  • Founded: 1990
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Implied Market Cap: NT$45.469b
  • Shares outstanding: 241.86m
  • Website: https://www.makalot.com.tw

Location

  • Makalot Industrial Co., Ltd.
  • No.550, Zhongxiao East Road
  • 8th Floor
  • Taipei
  • 110
  • Taiwan


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1477TWSE (Taiwan Stock Exchange)YesCommon StockTWTWDJan 2003

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/06/30
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.