Merida Industry Co., Ltd.

TWSE:9914 Stock Report

Market Cap: NT$70.3b

Merida Industry Valuation

Is 9914 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • 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 9914 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9914 (NT$231) is trading above our estimate of fair value (NT$107.16)

Significantly Below Fair Value: 9914 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9914?

Other financial metrics that can be useful for relative valuation.

9914 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/Revenue2.8x
Enterprise Value/EBITDA20.6x
PEG Ratio1.5x

Price to Earnings Ratio vs Peers

How does 9914's PE Ratio compare to its peers?

The above table shows the PE ratio for 9914 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.2x
9921 Giant Manufacturing
25x16.3%NT$85.7b
8478 Alexander Marine
16.4x9.2%NT$34.4b
6670 FuSheng Precision
14.8x6.1%NT$37.1b
1736 Johnson Health Tech .Co
36.4x33.7%NT$25.3b
9914 Merida Industry
40.8x27.4%NT$70.3b

Price-To-Earnings vs Peers: 9914 is expensive based on its Price-To-Earnings Ratio (40.8x) compared to the peer average (23.2x).

Price to Earnings Ratio vs Industry

How does 9914's PE Ratio compare vs other companies in the Asian Leisure Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a18.0%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a18.0%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: 9914 is expensive based on its Price-To-Earnings Ratio (40.8x) compared to the Asian Leisure industry average (18.6x).

Price to Earnings Ratio vs Fair Ratio

What is 9914'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.

9914 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio40.8x
Fair PE Ratio30x

Price-To-Earnings vs Fair Ratio: 9914 is expensive based on its Price-To-Earnings Ratio (40.8x) compared to the estimated Fair Price-To-Earnings Ratio (30x).

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 9914 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$231.50
NT$220.64
-4.7%
14.5%NT$257.00NT$175.00n/a11
Apr ’25NT$207.50
NT$223.36
+7.6%
13.0%NT$257.00NT$175.00n/a11
Mar ’25NT$205.50
NT$204.70
-0.4%
10.5%NT$240.00NT$160.00n/a10
Feb ’25NT$172.50
NT$201.70
+16.9%
11.9%NT$240.00NT$160.00n/a10
Jan ’25NT$182.50
NT$200.20
+9.7%
11.6%NT$240.00NT$160.00n/a10
Dec ’24NT$185.50
NT$196.20
+5.8%
9.8%NT$225.00NT$160.00n/a10
Nov ’24NT$166.00
NT$212.50
+28.0%
9.8%NT$250.00NT$180.00n/a10
Oct ’24NT$175.00
NT$217.70
+24.4%
10.7%NT$252.00NT$180.00n/a10
Sep ’24NT$193.50
NT$217.09
+12.2%
10.5%NT$252.00NT$180.00n/a11
Aug ’24NT$217.50
NT$200.80
-7.7%
14.8%NT$250.00NT$165.00n/a10
Jul ’24NT$222.00
NT$182.64
-17.7%
16.2%NT$248.00NT$150.00n/a11
Jun ’24NT$194.50
NT$175.60
-9.7%
16.8%NT$248.00NT$132.00n/a10
May ’24NT$171.50
NT$171.00
-0.3%
24.7%NT$284.00NT$127.00NT$235.0010
Apr ’24NT$168.50
NT$181.55
+7.7%
23.9%NT$284.00NT$140.00NT$207.5011
Mar ’24NT$179.00
NT$195.36
+9.1%
19.1%NT$284.00NT$140.00NT$205.5011
Feb ’24NT$181.50
NT$211.73
+16.7%
21.4%NT$284.00NT$150.00NT$172.5011
Jan ’24NT$167.00
NT$217.18
+30.0%
21.1%NT$284.00NT$150.00NT$182.5011
Dec ’23NT$188.50
NT$217.18
+15.2%
21.1%NT$284.00NT$150.00NT$185.5011
Nov ’23NT$176.00
NT$252.91
+43.7%
19.5%NT$325.00NT$169.00NT$166.0011
Oct ’23NT$180.50
NT$266.18
+47.5%
13.7%NT$325.00NT$200.00NT$175.0011
Sep ’23NT$220.00
NT$266.18
+21.0%
13.7%NT$325.00NT$200.00NT$193.5011
Aug ’23NT$231.50
NT$285.45
+23.3%
7.0%NT$325.00NT$260.00NT$217.5011
Jul ’23NT$244.50
NT$299.60
+22.5%
10.8%NT$384.00NT$260.00NT$222.0010
Jun ’23NT$256.50
NT$306.82
+19.6%
12.7%NT$384.00NT$260.00NT$194.5011
May ’23NT$242.50
NT$327.27
+35.0%
14.6%NT$410.00NT$260.00NT$171.5011

Analyst Forecast: Target price is lower than the current share price.

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