GTSM:8436

Stock Analysis Report

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Executive Summary

TCI Co., Ltd. engages in the research, development, manufacture, and sale of functional beverages, dietary supplements, and skin care products Taiwan, Asia and internationally. More Details


Snowflake Analysis

Flawless balance sheet and good value.

Share Price & News

How has TCI's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 8436 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 8436's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

9.3%

8436

-0.3%

TW Personal Products

2.0%

TW Market


1 Year Return

-20.0%

8436

-3.3%

TW Personal Products

31.2%

TW Market

Return vs Industry: 8436 underperformed the TW Personal Products industry which returned -3.3% over the past year.

Return vs Market: 8436 underperformed the TW Market which returned 31.2% over the past year.


Shareholder returns

8436IndustryMarket
7 Day9.3%-0.3%2.0%
30 Day1.2%-4.2%10.6%
90 Day-9.5%-5.9%22.8%
1 Year-17.5%-20.0%0.8%-3.3%35.8%31.2%
3 Year-14.4%-18.7%13.3%5.1%58.3%40.5%
5 Year192.9%172.5%10.8%-4.1%133.0%92.1%

Long-Term Price Volatility Vs. Market

How volatile is TCI's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is TCI undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 8436 (NT$201.5) is trading below our estimate of fair value (NT$468.49)

Significantly Below Fair Value: 8436 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 8436 is good value based on its PE Ratio (13.2x) compared to the TW Personal Products industry average (14.8x).

PE vs Market: 8436 is good value based on its PE Ratio (13.2x) compared to the TW market (18.6x).


Price to Earnings Growth Ratio

PEG Ratio: 8436 is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: 8436 is overvalued based on its PB Ratio (3.4x) compared to the TW Personal Products industry average (2.1x).


Next Steps

Future Growth

How is TCI forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

9.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 8436's forecast earnings growth (9.5% per year) is above the savings rate (0.8%).

Earnings vs Market: 8436's earnings (9.5% per year) are forecast to grow slower than the TW market (18.7% per year).

High Growth Earnings: 8436's earnings are forecast to grow, but not significantly.

Revenue vs Market: 8436's revenue (11.2% per year) is forecast to grow faster than the TW market (11.2% per year).

High Growth Revenue: 8436's revenue (11.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 8436's Return on Equity is forecast to be high in 3 years time (24.5%)


Next Steps

Past Performance

How has TCI performed over the past 5 years?

38.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 8436 has high quality earnings.

Growing Profit Margin: 8436's current net profit margins (21.2%) are lower than last year (22.6%).


Past Earnings Growth Analysis

Earnings Trend: 8436's earnings have grown significantly by 38.7% per year over the past 5 years.

Accelerating Growth: 8436's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 8436 had negative earnings growth (-20.6%) over the past year, making it difficult to compare to the Personal Products industry average (-14.9%).


Return on Equity

High ROE: 8436's Return on Equity (26%) is considered high.


Next Steps

Financial Health

How is TCI's financial position?


Financial Position Analysis

Short Term Liabilities: 8436's short term assets (NT$6.4B) exceed its short term liabilities (NT$4.3B).

Long Term Liabilities: 8436's short term assets (NT$6.4B) exceed its long term liabilities (NT$78.7M).


Debt to Equity History and Analysis

Debt Level: 8436's debt to equity ratio (21.6%) is considered satisfactory.

Reducing Debt: 8436's debt to equity ratio has reduced from 26.3% to 21.6% over the past 5 years.

Debt Coverage: 8436's debt is well covered by operating cash flow (147.7%).

Interest Coverage: 8436 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is TCI current dividend yield, its reliability and sustainability?

4.32%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 8436's dividend (4.41%) is higher than the bottom 25% of dividend payers in the TW market (2.09%).

High Dividend: 8436's dividend (4.41%) is low compared to the top 25% of dividend payers in the TW market (5.15%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 8436 has been paying a dividend for less than 10 years.

Growing Dividend: 8436's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (58.1%), 8436's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 8436's dividends in 3 years are forecast to be well covered by earnings (44.4% payout ratio).


Next Steps

Management

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

5.3yrs

Average board tenure


CEO

Yung-Hsiang Lin

no data

Tenure

Mr. Yung Hsiang Lin is a Chairman, CEO & General Manager of TCI Co., Ltd and has been its Director since May 2017. He holds Bachelor Degree in Botany from National Chung Hsing University. He was a Deputy G...


Board Members

NamePositionTenureCompensationOwnership
Yung-Hsiang Lin
Chairmanno datano datano data
Shou-Lu Chang
Independent Director8.83yrsno datano data
Tomiya Takamatsu
Director7yrsno datano data
Lung-Yi Liao
Independent Director8.83yrsno datano data
Sung-Yuan Liao
Independent Director3.67yrsno datano data
Chen-Yi Kao
Independent Director3.67yrsno datano data
Bi-Shu Li
Director1.33yrsno datano data

5.3yrs

Average Tenure

Experienced Board: 8436's board of directors are considered experienced (5.3 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.


Top Shareholders

Company Information

TCI Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TCI Co., Ltd.
  • Ticker: 8436
  • Exchange: GTSM
  • Founded: 1980
  • Industry: Personal Products
  • Sector: Household
  • Market Cap: NT$23.958b
  • Shares outstanding: 116.59m
  • Website: https://www.tci-bio.com

Location

  • TCI Co., Ltd.
  • No. 187, Kang Chien Road
  • 8th Floor
  • Taipei
  • 11494
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
8436GTSM (Taipei Exchange)YesCommon StockTWTWDFeb 2012

Biography

TCI Co., Ltd. engages in the research, development, manufacture, and sale of functional beverages, dietary supplements, and skin care products Taiwan, Asia and internationally. The company’s products inclu...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/26 17:28
End of Day Share Price2021/01/26 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.