An-Shin Food ServicesLtd (TPEX:1259) - Share price, News & Analysis

Q: What is the Fair Price of 1259 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

1259 (NT$67.5) is trading below our estimate of [[fair value]] (NT$209.66)

1259 fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	0/6
Financial Health	6/6
Dividends	4/6

1259 Stock Overview

An-Shin Food Services Co.,Ltd. operates a chain of fast food restaurants under the MOS BURGER name in Taiwan and Mainland China.

Rewards

Trading at 67.8% below our estimate of its fair value

Risk Analysis

Earnings have declined by 8.2% per year over past 5 years

Unstable dividend track record

Large one-off items impacting financial results

Profit margins (1.8%) are lower than last year (3.3%)

+ 1 more risk

An-Shin Food ServicesLtd Competitors

Kanpai

TPEX:1269

NT$2.3b

Lian Fa International Dining Business

TPEX:2756

NT$1.8b

La Kaffa International

TPEX:2732

NT$4.5b

YoungQin International

TPEX:2755

NT$1.5b

Price History & Performance

Summary of all time highs, changes and price drops for An-Shin Food ServicesLtd
Historical stock prices
Current Share Price	NT$68.00
52 Week High	NT$71.60
52 Week Low	NT$66.30
Beta	0.25
1 Month Change	-0.59%
3 Month Change	0.74%
1 Year Change	1.34%
3 Year Change	-1.88%
5 Year Change	-28.42%
Change since IPO	-68.35%

Shareholder Returns

	1259	TW Hospitality	TW Market
7D	-0.9%	0.7%	-2.3%
1Y	1.3%	-7.9%	-16.0%

Return vs Industry: 1259 exceeded the TW Hospitality industry which returned -7.9% over the past year.

Return vs Market: 1259 exceeded the TW Market which returned -16% over the past year.

Price Volatility

Is 1259's price volatile compared to industry and market?
1259 volatility
1259 Average Weekly Movement	2.4%
Hospitality Industry Average Movement	5.4%
Market Average Movement	4.8%
10% most volatile stocks in TW Market	8.3%
10% least volatile stocks in TW Market	2.3%

Stable Share Price: 1259 is less volatile than 75% of TW stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: 1259's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1990	n/a	Shun-Hsing Kao	https://www.mos.com.tw

An-Shin Food Services Co.,Ltd. operates a chain of fast food restaurants under the MOS BURGER name in Taiwan and Mainland China. It offers hamburgers, hot dogs, sandwiches, salads, desserts, soups, drinks, and others.

An-Shin Food ServicesLtd Fundamentals Summary

How do An-Shin Food ServicesLtd's earnings and revenue compare to its market cap?
1259 fundamental statistics
Market Cap	NT$2.20b
Earnings (TTM)	NT$91.82m
Revenue (TTM)	NT$5.09b

24.0x

P/E Ratio

0.4x

P/S Ratio

Is 1259 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
1259 income statement (TTM)
Revenue	NT$5.09b
Cost of Revenue	NT$3.83b
Gross Profit	NT$1.26b
Other Expenses	NT$1.16b
Earnings	NT$91.82m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	2.83
Gross Margin	24.69%
Net Profit Margin	1.81%
Debt/Equity Ratio	0%

How did 1259 perform over the long term?

See historical performance and comparison

Dividends

3.4%

Current Dividend Yield

81%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is 1259 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
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1259?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 1259. This is calculated by dividing 1259's market cap by their current preferred multiple.
What is 1259's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	NT$2.20b

1259 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	0.6x
Enterprise Value/EBITDA	17.2x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 1259's PE Ratio compare to its peers?

1259 PE Ratio vs Peers

The above table shows the PE ratio for 1259 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	23.5x
1269 Kanpai	31.9x	n/a	NT$2.3b
2756 Lian Fa International Dining Business	14.3x	n/a	NT$1.8b
2732 La Kaffa International	28.2x	n/a	NT$4.5b
2755 YoungQin International	17.4x	n/a	NT$1.5b
1259 An-Shin Food ServicesLtd	23.8x	n/a	NT$2.2b

Forward PE

Price-To-Earnings vs Peers: 1259 is expensive based on its Price-To-Earnings Ratio (23.8x) compared to the peer average (23.5x).

Price to Earnings Ratio vs Industry

How does 1259's PE Ratio compare vs other companies in the TW Hospitality Industry?

Price-To-Earnings vs Industry: 1259 is good value based on its Price-To-Earnings Ratio (23.8x) compared to the TW Hospitality industry average (26.9x)

Price to Earnings Ratio vs Fair Ratio

What is 1259'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.

1259 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	24x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 1259's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 1259 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1259 (NT$67.5) is trading below our estimate of fair value (NT$209.66)

Significantly Below Fair Value: 1259 is trading below fair value by more than 20%.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 1259's PEG Ratio to determine if it is good value.

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Future Growth

How is An-Shin Food ServicesLtd forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

46.9%

Forecasted Consumer Services industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as An-Shin Food ServicesLtd has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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Examine whether An-Shin Food ServicesLtd is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has An-Shin Food ServicesLtd performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-8.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1259 has a large one-off gain of NT$29.5M impacting its March 31 2022 financial results.

Growing Profit Margin: 1259's current net profit margins (1.8%) are lower than last year (3.3%).

Past Earnings Growth Analysis

Earnings Trend: 1259's earnings have declined by 8.2% per year over the past 5 years.

Accelerating Growth: 1259's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1259 had negative earnings growth (-48%) over the past year, making it difficult to compare to the Hospitality industry average (-39%).

Return on Equity

High ROE: 1259's Return on Equity (3.9%) is considered low.

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Financial Health

How is An-Shin Food ServicesLtd's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 1259's short term assets (NT$1.8B) exceed its short term liabilities (NT$1.6B).

Long Term Liabilities: 1259's short term assets (NT$1.8B) exceed its long term liabilities (NT$1.6B).

Debt to Equity History and Analysis

Debt Level: 1259 is debt free.

Reducing Debt: 1259 has not had any debt for past 5 years.

Debt Coverage: 1259 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 1259 has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is An-Shin Food ServicesLtd current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

3.38%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 1259's dividend (3.41%) is higher than the bottom 25% of dividend payers in the TW market (2.64%).

High Dividend: 1259's dividend (3.41%) is low compared to the top 25% of dividend payers in the TW market (6.47%).

Stability and Growth of Payments

Stable Dividend: 1259's dividend payments have been volatile in the past 10 years.

Growing Dividend: 1259's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (81%), 1259's payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (15.6%), 1259's dividend payments are well covered by cash flows.

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Management

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

8.0yrs

Average board tenure

CEO

Shun-Hsing Kao

no data

Tenure

Mr. Shun-Hsing Kao serves as the President at An-Shin Food Services Co.,Ltd. Mr. Kao has been a Director of An-shin Food Service Co., Ltd. since June 6, 2014.Mr. Kao served as General Manager of An-shin F...

Board Members

Experienced Board: 1259's board of directors are considered experienced (8.1 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.

Data	Last Updated (UTC time)
Company Analysis	2022/07/01 00:00
End of Day Share Price	2022/06/30 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31