GTSM:2916

Stock Analysis Report

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Executive Summary

Munsin Garment Corporation manufactures and trades in various garment knitwear in Taiwan. More Details


Snowflake Analysis

Flawless balance sheet and undervalued.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 2916 is less volatile than 75% of TW stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: 2916's weekly volatility (2%) has been stable over the past year.


Market Performance


7 Day Return

0.6%

2916

-1.6%

TW Retail Distributors

-3.2%

TW Market


1 Year Return

-1.7%

2916

15.5%

TW Retail Distributors

38.1%

TW Market

Return vs Industry: 2916 underperformed the TW Retail Distributors industry which returned 15.5% over the past year.

Return vs Market: 2916 underperformed the TW Market which returned 38.1% over the past year.


Shareholder returns

2916IndustryMarket
7 Day0.6%-1.6%-3.2%
30 Day1.5%2.5%1.5%
90 Day4.3%-1.4%12.1%
1 Year5.1%-1.7%20.8%15.5%43.0%38.1%
3 Year28.9%4.6%18.1%4.8%63.9%45.5%
5 Year34.3%-3.1%64.4%32.6%120.0%81.3%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

23.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 2916 (NT$17.1) is trading below our estimate of fair value (NT$22.43)

Significantly Below Fair Value: 2916 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2916 is good value based on its PE Ratio (15.4x) compared to the TW Retail Distributors industry average (18x).

PE vs Market: 2916 is good value based on its PE Ratio (15.4x) compared to the TW market (19.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 2916's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 2916 is good value based on its PB Ratio (1.1x) compared to the TW Retail Distributors industry average (1.4x).


Next Steps

Future Growth

How is Munsin Garment forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

14.2%

Forecasted Retail 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 Munsin Garment 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.


Next Steps

Past Performance

How has Munsin Garment performed over the past 5 years?

-2.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2916 has high quality earnings.

Growing Profit Margin: 2916's current net profit margins (4.5%) are lower than last year (5.9%).


Past Earnings Growth Analysis

Earnings Trend: 2916's earnings have declined by 2.1% per year over the past 5 years.

Accelerating Growth: 2916's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2916 had negative earnings growth (-24.6%) over the past year, making it difficult to compare to the Retail Distributors industry average (-23.2%).


Return on Equity

High ROE: 2916's Return on Equity (7%) is considered low.


Next Steps

Financial Health

How is Munsin Garment's financial position?


Financial Position Analysis

Short Term Liabilities: 2916's short term assets (NT$877.4M) exceed its short term liabilities (NT$288.4M).

Long Term Liabilities: 2916's short term assets (NT$877.4M) exceed its long term liabilities (NT$70.6M).


Debt to Equity History and Analysis

Debt Level: 2916's debt to equity ratio (16.1%) is considered satisfactory.

Reducing Debt: 2916's debt to equity ratio has reduced from 26.5% to 16.1% over the past 5 years.

Debt Coverage: 2916's debt is well covered by operating cash flow (86.4%).

Interest Coverage: 2916's interest payments on its debt are well covered by EBIT (39.9x coverage).


Balance Sheet


Next Steps

Dividend

What is Munsin Garment current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 2916's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 2916's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 2916's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 2916's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 2916 is not paying a notable dividend for the TW market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 2916's dividend in 3 years as they are not forecast to pay a notable one for the TW market.


Next Steps

Management

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


CEO

Munsin Garment has no CEO, or we have no data on them.


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

Munsin Garment Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Munsin Garment Corporation
  • Ticker: 2916
  • Exchange: GTSM
  • Founded: 1977
  • Industry: Distributors
  • Sector: Retail
  • Market Cap: NT$934.120m
  • Shares outstanding: 54.63m
  • Website: https://www.munsin.com.tw

Number of Employees


Location

  • Munsin Garment Corporation
  • No. 18, Wuquan sixth Road
  • Wuzhan District
  • New Taipei City
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2916GTSM (Taipei Exchange)YesCommon StockTWTWDMay 2004

Biography

Munsin Garment Corporation manufactures and trades in various garment knitwear in Taiwan. The company offers golf apparel, lightweight sportswear, professional bicycles, equestrian sporting goods, casual w...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/05 08:35
End of Day Share Price2021/03/04 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.