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9945

Ruentex DevelopmentLtd TWSE:9945 Stock Report

Last Price

NT$50.30

Market Cap

NT$105.6b

7D

-6.3%

1Y

-10.2%

Updated

04 Oct, 2022

Data

Company Financials
9945 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance2/6
Financial Health3/6
Dividends4/6

9945 Stock Overview

Ruentex Development Co., Ltd. provides construction and civil engineering contracting services in Taiwan.

Ruentex DevelopmentLtd Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Ruentex DevelopmentLtd
Historical stock prices
Current Share PriceNT$50.30
52 Week HighNT$80.70
52 Week LowNT$48.75
Beta0.69
1 Month Change-15.03%
3 Month Change-28.04%
1 Year Change-10.18%
3 Year Change142.27%
5 Year Change121.60%
Change since IPO2.09%

Recent News & Updates

Shareholder Returns

9945TW Real EstateTW Market
7D-6.3%-1.4%-3.5%
1Y-10.2%-6.3%-18.3%

Return vs Industry: 9945 underperformed the TW Real Estate industry which returned -6.3% over the past year.

Return vs Market: 9945 exceeded the TW Market which returned -18.3% over the past year.

Price Volatility

Is 9945's price volatile compared to industry and market?
9945 volatility
9945 Average Weekly Movement7.0%
Real Estate Industry Average Movement2.8%
Market Average Movement5.1%
10% most volatile stocks in TW Market8.2%
10% least volatile stocks in TW Market2.4%

Stable Share Price: 9945 is more volatile than 75% of TW stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 9945's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of TW stocks.

About the Company

FoundedEmployeesCEOWebsite
1977n/aChih-Hung Leehttps://www.rt-develop.com.tw

Ruentex Development Co., Ltd. provides construction and civil engineering contracting services in Taiwan. The company is involved in the construction of residential buildings through subcontracting; lease and sale of commercial buildings; trade of construction materials; sale of related merchandise; operation of supermarkets and shopping malls; undertaking of construction and civil engineering activities; telecommunications enterprises and communication engineering activities; and import/export, manufacture, and planning of precast constructional components, such as beams, columns, and walls, as well as provision of relevant electrical and mechanical works. It also operates department stores and supermarkets; and manufactures waste disposal and pollution prevention equipment.

Ruentex DevelopmentLtd Fundamentals Summary

How do Ruentex DevelopmentLtd's earnings and revenue compare to its market cap?
9945 fundamental statistics
Market CapNT$105.61b
Earnings (TTM)NT$15.45b
Revenue (TTM)NT$29.64b

6.8x

P/E Ratio

3.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
9945 income statement (TTM)
RevenueNT$29.64b
Cost of RevenueNT$23.46b
Gross ProfitNT$6.18b
Other Expenses-NT$9.27b
EarningsNT$15.45b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)7.36
Gross Margin20.84%
Net Profit Margin52.13%
Debt/Equity Ratio132.0%

How did 9945 perform over the long term?

See historical performance and comparison

Dividends

4.0%

Current Dividend Yield

26%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 9945 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 9945?

Other financial metrics that can be useful for relative valuation.

9945 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/Revenue5.4x
Enterprise Value/EBITDA33.2x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does 9945's PE Ratio compare to its peers?

9945 PE Ratio vs Peers
The above table shows the PE ratio for 9945 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13x
2542 Highwealth Construction
17.2xn/aNT$66.9b
5522 Farglory Land Development
6.6xn/aNT$45.4b
2540 JSL Construction & Development
23.4xn/aNT$21.5b
2548 Huaku Development
4.8xn/aNT$24.8b
9945 Ruentex DevelopmentLtd
6.8xn/aNT$105.6b

Price-To-Earnings vs Peers: 9945 is good value based on its Price-To-Earnings Ratio (6.8x) compared to the peer average (13x).


Price to Earnings Ratio vs Industry

How does 9945's PE Ratio compare vs other companies in the TW Real Estate Industry?

Price-To-Earnings vs Industry: 9945 is good value based on its Price-To-Earnings Ratio (6.8x) compared to the TW Real Estate industry average (12.2x)


Price to Earnings Ratio vs Fair Ratio

What is 9945'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.

9945 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 9945's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of 9945 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9945 (NT$50.3) is trading below our estimate of fair value (NT$146.81)

Significantly Below Fair Value: 9945 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: Insufficient data to show price forecast.


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Future Growth

How is Ruentex DevelopmentLtd 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


11.9%

Forecasted Real Estate 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 Ruentex DevelopmentLtd 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 Ruentex DevelopmentLtd 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 Ruentex DevelopmentLtd performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


6.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 9945 has high quality earnings.

Growing Profit Margin: 9945's current net profit margins (52.1%) are lower than last year (63.6%).


Past Earnings Growth Analysis

Earnings Trend: 9945's earnings have grown by 6.7% per year over the past 5 years.

Accelerating Growth: 9945's earnings growth over the past year (5.4%) is below its 5-year average (6.7% per year).

Earnings vs Industry: 9945 earnings growth over the past year (5.4%) underperformed the Real Estate industry 6.2%.


Return on Equity

High ROE: Whilst 9945's Return on Equity (47.85%) is outstanding, this metric is skewed due to their high level of debt.


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Financial Health

How is Ruentex DevelopmentLtd's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 9945's short term assets (NT$50.1B) exceed its short term liabilities (NT$32.0B).

Long Term Liabilities: 9945's short term assets (NT$50.1B) exceed its long term liabilities (NT$46.4B).


Debt to Equity History and Analysis

Debt Level: 9945's net debt to equity ratio (105.3%) is considered high.

Reducing Debt: 9945's debt to equity ratio has increased from 92.7% to 132% over the past 5 years.

Debt Coverage: 9945's debt is not well covered by operating cash flow (13.8%).

Interest Coverage: 9945's interest payments on its debt are well covered by EBIT (7.9x coverage).


Balance Sheet


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Dividend

What is Ruentex DevelopmentLtd 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


3.98%

Current Dividend Yield

Dividend Yield vs Market

Ruentex DevelopmentLtd Dividend Yield vs Market
How does Ruentex DevelopmentLtd dividend yield compare to the market?
SegmentDividend Yield
Company (Ruentex DevelopmentLtd)4.0%
Market Bottom 25% (TW)2.6%
Market Top 25% (TW)7.0%
Industry Average (Real Estate)6.7%
Analyst forecast in 3 Years (Ruentex DevelopmentLtd)n/a

Notable Dividend: 9945's dividend (3.98%) is higher than the bottom 25% of dividend payers in the TW market (2.59%).

High Dividend: 9945's dividend (3.98%) is low compared to the top 25% of dividend payers in the TW market (7.04%).


Stability and Growth of Payments

Stable Dividend: 9945's dividend payments have been volatile in the past 10 years.

Growing Dividend: 9945's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (26.4%), 9945's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (72.1%), 9945's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

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

9.3yrs

Average board tenure


CEO

Chih-Hung Lee

10.08yrs

Tenure

Mr. Chih-Hung Lee is a Director at Ruentex Industries Limited. He serves as the President and Director of Ruentex Development Co.,Ltd. since September 3, 2012 and serves as its Manager.He has been Chairma...


Board Members

Experienced Board: 9945's board of directors are considered experienced (9.3 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

What is the ownership structure of 9945?
Owner TypeNumber of SharesOwnership Percentage
Institutions169,689,3538.1%
Private Companies385,847,37018.4%
Public Companies541,472,45025.8%
General Public1,002,629,07047.8%

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


Top Shareholders

Top 25 shareholders own 51.59% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
25.79%
Ruentex Industries Ltd.
541,472,450NT$27.2b0%no data
7.43%
Huei Hong Investment Co., Ltd.
155,935,143NT$7.8b0%no data
5.11%
Chang Chuen Investment Co., Ltd.
107,344,416NT$5.4b0%no data
4.32%
Ren Ying Industrial Co., Ltd.
90,657,244NT$4.6b0%no data
1.79%
BlackRock, Inc.
37,614,334NT$1.9b-8.74%no data
1.52%
Ruen Hua Dyeing & Weaving Co., Ltd
31,910,567NT$1.6b0%no data
1.19%
Norges Bank Investment Management
24,946,988NT$1.3b0%0.01%
1.06%
The Vanguard Group, Inc.
22,352,778NT$1.1b0%no data
1.05%
Standard Chartered Bank, Asset Management Arm
22,035,460NT$1.1b0%4.75%
0.6%
Dimensional Fund Advisors LP
12,611,526NT$634.4m-2.52%0.01%
0.35%
AP Fonden 2
7,399,000NT$372.2m0%0.09%
0.22%
Geode Capital Management, LLC
4,631,237NT$233.0m5.51%no data
0.17%
Grantham Mayo Van Otterloo & Co. LLC
3,592,200NT$180.7m-5.15%0.02%
0.13%
Northern Trust Global Investments
2,782,065NT$139.9m1.2%no data
0.12%
Caisse de dépôt et placement du Québec
2,485,126NT$125.0m0%0.01%
0.11%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
2,389,748NT$120.2m4.19%no data
0.11%
Charles Schwab Investment Management, Inc.
2,300,232NT$115.7m5.36%no data
0.11%
AP Fonden 7
2,236,459NT$112.5m0%0.01%
0.088%
Royal London Asset Management Limited
1,857,460NT$93.4m0%0.01%
0.067%
UBS Asset Management
1,406,181NT$70.7m0%no data
0.06%
First Trust Advisors LP
1,254,607NT$63.1m1.16%no data
0.055%
State Street Global Advisors, Inc.
1,145,997NT$57.6m0.44%no data
0.053%
Deutsche Asset & Wealth Management
1,106,956NT$55.7m-1.07%no data
0.042%
DBX Advisors LLC
876,210NT$44.1m-4.17%0.01%
0.04%
Wellington Management Group LLP
848,000NT$42.7m2.29%no data

Company Information

Ruentex Development Co.,Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Ruentex Development Co.,Ltd.
  • Ticker: 9945
  • Exchange: TWSE
  • Founded: 1977
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Implied Market Cap: NT$105.612b
  • Shares outstanding: 2.10b
  • Website: https://www.rt-develop.com.tw

Location

  • Ruentex Development Co.,Ltd.
  • No. 308, Bade Road
  • 11th Floor
  • Taipei
  • 104
  • Taiwan


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
9945TWSE (Taiwan Stock Exchange)YesCommon StockTWTWDSep 1992

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/04 00:00
End of Day Share Price2022/10/04 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.