Executive Summary
Test-Rite International Co., Ltd. imports and exports hand tools, auto parts, machinery, furniture, and various home appliances worldwide. More Details
Rewards
Risk Analysis
Snowflake Analysis
Good value with adequate balance sheet.
Share Price & News
How has Test-Rite International's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 2908 is less volatile than 75% of TW stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: 2908's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
-2.5%
2908
-1.1%
TW Retail Distributors
-0.1%
TW Market
1 Year Return
29.3%
2908
16.0%
TW Retail Distributors
41.5%
TW Market
Return vs Industry: 2908 exceeded the TW Retail Distributors industry which returned 16% over the past year.
Return vs Market: 2908 underperformed the TW Market which returned 41.5% over the past year.
Shareholder returns
| 2908 | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.5% | -1.1% | -0.1% |
| 30 Day | 2.8% | 4.6% | 5.6% |
| 90 Day | -2.5% | -0.8% | 15.0% |
| 1 Year | 33.6%29.3% | 21.3%16.0% | 46.5%41.5% |
| 3 Year | 32.9%14.9% | 19.3%5.9% | 67.1%48.2% |
| 5 Year | 66.0%30.2% | 64.9%33.0% | 123.0%83.7% |
Long-Term Price Volatility Vs. Market
How volatile is Test-Rite International's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Is Test-Rite International Co., Ltd.'s (TPE:2908) ROE Of 12% Impressive?1 month ago | Simply Wall St
Is Test-Rite International (TPE:2908) Using Too Much Debt?1 month ago | Simply Wall St
Is Test-Rite International Co., Ltd. (TPE:2908) A Great Dividend Stock?Valuation
Is Test-Rite International 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: 2908 (NT$25.85) is trading below our estimate of fair value (NT$84.6)
Significantly Below Fair Value: 2908 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 2908 is good value based on its PE Ratio (16.6x) compared to the TW Retail Distributors industry average (18x).
PE vs Market: 2908 is good value based on its PE Ratio (16.6x) compared to the TW market (19.4x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate 2908's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: 2908 is overvalued based on its PB Ratio (2x) compared to the TW Retail Distributors industry average (1.4x).
Next Steps
Future Growth
How is Test-Rite International forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
14.1%
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 Test-Rite International 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
- Examine whether Test-Rite International 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.
- Explore growth companies in the Retail industry.
Past Performance
How has Test-Rite International performed over the past 5 years?
-18.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 2908 has high quality earnings.
Growing Profit Margin: 2908 became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: 2908's earnings have declined by 18.7% per year over the past 5 years.
Accelerating Growth: 2908 has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: 2908 has become profitable in the last year, making it difficult to compare its past year earnings growth to the Retail Distributors industry (-23.2%).
Return on Equity
High ROE: 2908's Return on Equity (11.8%) is considered low.
Next Steps
Financial Health
How is Test-Rite International's financial position?
Financial Position Analysis
Short Term Liabilities: 2908's short term assets (NT$16.2B) exceed its short term liabilities (NT$15.6B).
Long Term Liabilities: 2908's short term assets (NT$16.2B) exceed its long term liabilities (NT$15.1B).
Debt to Equity History and Analysis
Debt Level: 2908's debt to equity ratio (162.9%) is considered high.
Reducing Debt: 2908's debt to equity ratio has increased from 134.2% to 162.9% over the past 5 years.
Debt Coverage: 2908's debt is well covered by operating cash flow (27.6%).
Interest Coverage: 2908's interest payments on its debt are well covered by EBIT (3.5x coverage).
Balance Sheet
Next Steps
Dividend
What is Test-Rite International current dividend yield, its reliability and sustainability?
2.75%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 2908's dividend (2.75%) is higher than the bottom 25% of dividend payers in the TW market (1.98%).
High Dividend: 2908's dividend (2.75%) is low compared to the top 25% of dividend payers in the TW market (4.97%).
Stability and Growth of Payments
Stable Dividend: 2908's dividend payments have been volatile in the past 10 years.
Growing Dividend: 2908's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (45.6%), 2908's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.5yrs
Average management tenure
CEO
Judy Lee
1.17yrs
Tenure
Ms. Judy Lee has been Chief Executive Officer of at Test-Rite International Co., Ltd. since 2020 and served as its Chief Executive Officer of Corporate Governance & Risk Control since September 1, 1975 unt...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairwoman & CEO | 1.17yrs | no data | 5.19% NT$ 672.4m | |
| Company Secretary | no data | no data | no data | |
| COO & Director | 10.75yrs | no data | 0.47% NT$ 61.0m | |
| Chief Information Officer | 1.75yrs | no data | no data | |
| Vice President of the Group Investor Relationship Department | 2.67yrs | no data | no data | |
| Vice President of Customer Sales Operation & Shipping | 3.17yrs | no data | 0.0092% NT$ 1.2m | |
| Vice President of Human Resources Management | 1.08yrs | no data | no data | |
| CEO of Strategy & New Business Development and Director | 37.67yrs | no data | 7.87% NT$ 1.0b | |
| Senior Vice President of Product Business | 3.5yrs | no data | 0.084% NT$ 10.8m | |
| Senior Vice President of Product Business | 3.5yrs | no data | 0.0027% NT$ 351.2k | |
| Senior Vice President of Auditing | 3.5yrs | no data | 0.0023% NT$ 292.9k | |
| Senior Vice President of Automotive Division | 3.75yrs | no data | no data |
3.5yrs
Average Tenure
Experienced Management: 2908's management team is considered experienced (3.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairwoman & CEO | 1.17yrs | no data | 5.19% NT$ 672.4m | |
| COO & Director | 10.75yrs | no data | 0.47% NT$ 61.0m | |
| CEO of Strategy & New Business Development and Director | 37.67yrs | no data | 7.87% NT$ 1.0b | |
| Independent Director | 5.75yrs | no data | no data | |
| Independent Director | 2.75yrs | no data | no data | |
| Representative Director | 8.75yrs | no data | no data | |
| Independent Director | 2.75yrs | no data | no data |
8.8yrs
Average Tenure
Experienced Board: 2908's board of directors are considered experienced (8.8 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
Test-Rite International Co., Ltd.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Test-Rite International Co., Ltd.
- Ticker: 2908
- Exchange: TSEC
- Founded: 1978
- Industry: Distributors
- Sector: Retail
- Market Cap: NT$12.959b
- Shares outstanding: 495.58m
- Website: https://www.testritegroup.com
Number of Employees
Location
- Test-Rite International Co., Ltd.
- No. 23, Hsin Hu 3rd Road
- 6th Floor
- Taipei
- 114
- Taiwan
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 2908 | TSEC (Taiwan Stock Exchange) | Yes | Common Shares | TW | TWD | Jun 1993 |
Biography
Test-Rite International Co., Ltd. imports and exports hand tools, auto parts, machinery, furniture, and various home appliances worldwide. The company operates through Retail, Trading, and Construction seg...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/04 08:40 |
| End of Day Share Price | 2021/03/04 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.