TSEC:1303

Stock Analysis Report

Executive Summary

Nan Ya Plastics Corporation manufactures and sells plastics products, plastic materials, electronic materials, and fiber products in Taiwan and internationally.


Snowflake Analysis

Flawless balance sheet average dividend payer.


Similar Companies

Share Price & News

How has Nan Ya Plastics's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 1303's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.9%

1303

4.0%

TW Chemicals

3.0%

TW Market


1 Year Return

-27.7%

1303

-29.3%

TW Chemicals

-8.9%

TW Market

Return vs Industry: 1303 exceeded the TW Chemicals industry which returned -30.6% over the past year.

Return vs Market: 1303 underperformed the TW Market which returned -10.1% over the past year.


Shareholder returns

1303IndustryMarket
7 Day2.9%4.0%3.0%
30 Day-17.4%-15.3%-12.0%
90 Day-21.4%-20.3%-15.5%
1 Year-22.8%-27.7%-25.4%-29.3%-4.7%-8.9%
3 Year-5.9%-21.8%-10.3%-23.0%12.7%-0.4%
5 Year2.8%-21.7%5.1%-15.8%24.8%2.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Nan Ya Plastics undervalued compared to its fair value and its price relative to the market?

12.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 1303 (NT$56.3) is trading below our estimate of fair value (NT$64.18)

Significantly Below Fair Value: 1303 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: 1303 is poor value based on its PE Ratio (19.3x) compared to the Chemicals industry average (14x).

PE vs Market: 1303 is poor value based on its PE Ratio (19.3x) compared to the TW market (14.1x).


Price to Earnings Growth Ratio

PEG Ratio: 1303 is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: 1303 is overvalued based on its PB Ratio (1.3x) compared to the TW Chemicals industry average (1x).


Next Steps

Future Growth

How is Nan Ya Plastics forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

20.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1303's forecast earnings growth (20.6% per year) is above the savings rate (0.7%).

Earnings vs Market: 1303's earnings (20.6% per year) are forecast to grow faster than the TW market (11.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 1303's revenue (2% per year) is forecast to grow slower than the TW market (6.6% per year).

High Growth Revenue: 1303's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1303's Return on Equity is forecast to be low in 3 years time (8.7%).


Next Steps

Past Performance

How has Nan Ya Plastics performed over the past 5 years?

5.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 1303 has high quality earnings.

Growing Profit Margin: 1303's current net profit margins (8.1%) are lower than last year (15.8%).


Past Earnings Growth Analysis

Earnings Trend: 1303's earnings have grown by 5.5% per year over the past 5 years.

Accelerating Growth: 1303's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1303 had negative earnings growth (-56.3%) over the past year, making it difficult to compare to the Chemicals industry average (-9.8%).


Return on Equity

High ROE: 1303's Return on Equity (6.5%) is considered low.


Next Steps

Financial Health

How is Nan Ya Plastics's financial position?


Financial Position Analysis

Short Term Liabilities: 1303's short term assets (NT$187.5B) exceed its short term liabilities (NT$83.5B).

Long Term Liabilities: 1303's short term assets (NT$187.5B) exceed its long term liabilities (NT$115.6B).


Debt to Equity History and Analysis

Debt Level: 1303's debt to equity ratio (35.6%) is considered satisfactory.

Reducing Debt: 1303's debt to equity ratio has reduced from 40% to 35.6% over the past 5 years.

Debt Coverage: 1303's debt is well covered by operating cash flow (41.3%).

Interest Coverage: 1303 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Nan Ya Plastics's current dividend yield, its reliability and sustainability?

8.88%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 1303's dividend (8.88%) is higher than the bottom 25% of dividend payers in the TW market (3.22%).

High Dividend: 1303's dividend (8.88%) is in the top 25% of dividend payers in the TW market (6.88%)


Stability and Growth of Payments

Stable Dividend: 1303's dividend payments have been volatile in the past 10 years.

Growing Dividend: 1303's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (171.8%), 1303's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 1303's dividends in 3 years are forecast to be covered by earnings (73% payout ratio).


Next Steps

Management

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

4.1yrs

Average management tenure


CEO

Ming-Jen Tzou

4.75s

Tenure

Mr. Ming-Jen Tzou has been the President of Nan Ya Plastics Corporation since July 1, 2015. Mr. Tzou served as an Executive Vice President of Nan Ya Plastics Corporation until September 16, 2015 and served ...


Leadership Team

NamePositionTenureCompensationOwnership
Ming-Jen Tzou
President & Director4.75yrsno datano data
Ming-Jong Yeh
Financial Officer7.08yrsno datano data
Li-Ta Pai
Accounting Officer7.08yrsno datano data
Wen-Yuan Wong
MD & Director12.83yrsno data0.47% NT$2.1b
Wen-Chiao Wang
MD & Director12.83yrsno data0.65% NT$2.9b
Chih-Kang Wang
MD & Independent Director10.83yrsno datano data
Yuan-Shan Liu
Senior Vice Presidentno datano datano data
Chung-Yueh Shih
Senior Vice President1.08yrsno data0.00010% NT$446.5k
Cheng-Chung Lee
Senior VP & Director0.83yrno datano data
Sin-Yi Huang
Senior VP & Director3.83yrsno datano data

4.1yrs

Average Tenure

Experienced Management: 1303's management team is considered experienced (4.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ming-Jen Tzou
President & Director4.75yrsno datano data
Wen-Yuan Wong
MD & Director12.83yrsno data0.47% NT$2.1b
Wen-Chiao Wang
MD & Director12.83yrsno data0.65% NT$2.9b
Chih-Kang Wang
MD & Independent Director10.83yrsno datano data
Cheng-Chung Lee
Senior VP & Director0.83yrno datano data
Sin-Yi Huang
Senior VP & Director3.83yrsno datano data
Ruey-Yu Wang
MD & Executive Director12.83yrsno data0.24% NT$1.1b
Fong-Chin Lin
Senior VP & Director28yrsno datano data
Kuei-Yung Wang
Senior VP & Director12.83yrsno datano data
Chia-Chau Wu
Chairman6.83yrsno data0.0017% NT$7.6m

12.8yrs

Average Tenure

Experienced Board: 1303's board of directors are seasoned and experienced ( 12.8 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

Nan Ya Plastics Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Nan Ya Plastics Corporation
  • Ticker: 1303
  • Exchange: TSEC
  • Founded: 1958
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Market Cap: NT$446.505b
  • Shares outstanding: 7.93b
  • Website: https://www.npc.com.tw

Number of Employees


Location

  • Nan Ya Plastics Corporation
  • 101, Shuiguan Road
  • Renwu District
  • Kaohsiung City
  • 814
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1303TSEC (Taiwan Stock Exchange)YesCommon StockTWTWDJan 1992

Biography

Nan Ya Plastics Corporation manufactures and sells plastics products, plastic materials, electronic materials, and fiber products in Taiwan and internationally. The company provides plastics products comprising PP synthetic papers, adhesives, optical films, outdoor and interior decoration materials, synthetic leather, TPU films, fire rated doors, windows, plastic pallets, PVC cling films, PE stretch films, engineering and PVC compounds, unsaturated polyester, pipes and fittings, rigid sheets, A-PET sheets/rigid films, PVC sheets, PP sheets, and injection molding products, as well as decoration, window, and PET films. It also offers electronic materials, including copper clad laminates, glass fabrics, liquid crystal display products, touch panels, copper foils, and PCB inks. In addition, the company provides petrochemicals, such as plasticizers, phthalic anhydride, alcohols, glycols, curing agents, hydrogen peroxide, tetrahydrofuran, 1,4-butanediol, bisphenol-A, maleic anhydride, epoxidized soybean oil, stabilizer, liquefied gas, and epoxy resin. Further, it provides fiber and textile products, such as draw textured yarns, spin drawn yarns, partially and fully oriented yarns, polyester staple fibers, PET resins, polyester films, polyester release films, and woven and knitting fabrics. Additionally, the company offers machinery and switchgear products, including HV/LV switchgears, cast resin transformers, vacuum contactor switches, molds, rollers, and screws and barrels. Nan Ya Plastics Corporation was founded in 1958 and is headquartered in Kaohsiung City, Taiwan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 14:34
End of Day Share Price2020/04/07 00:00
Earnings2019/12/31
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.