TSEC:2908

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Test-Rite International

Executive Summary

Test-Rite International Co., Ltd. imports and exports hand tools, auto parts, machinery, furniture, and various home appliances worldwide. More Details


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

2908IndustryMarket
7 Day-2.5%-1.1%-0.1%
30 Day2.8%4.6%5.6%
90 Day-2.5%-0.8%15.0%
1 Year33.6%29.3%21.3%16.0%46.5%41.5%
3 Year32.9%14.9%19.3%5.9%67.1%48.2%
5 Year66.0%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

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

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

NamePositionTenureCompensationOwnership
Judy Lee
Chairwoman & CEO1.17yrsno data5.19%
NT$ 672.4m
Linda Lin
Company Secretaryno datano datano data
Robin Ho
COO & Director10.75yrsno data0.47%
NT$ 61.0m
Lori Huang
Chief Information Officer1.75yrsno datano data
Eric Chang
Vice President of the Group Investor Relationship Department2.67yrsno datano data
JingJing Kuo
Vice President of Customer Sales Operation & Shipping3.17yrsno data0.0092%
NT$ 1.2m
Sabrina Kuo
Vice President of Human Resources Management1.08yrsno datano data
Tony Ho
CEO of Strategy & New Business Development and Director37.67yrsno data7.87%
NT$ 1.0b
Edward Kao
Senior Vice President of Product Business3.5yrsno data0.084%
NT$ 10.8m
Bob Yueh
Senior Vice President of Product Business3.5yrsno data0.0027%
NT$ 351.2k
Lancy Wu
Senior Vice President of Auditing3.5yrsno data0.0023%
NT$ 292.9k
Tony Kania
Senior Vice President of Automotive Division3.75yrsno datano data

3.5yrs

Average Tenure

Experienced Management: 2908's management team is considered experienced (3.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Judy Lee
Chairwoman & CEO1.17yrsno data5.19%
NT$ 672.4m
Robin Ho
COO & Director10.75yrsno data0.47%
NT$ 61.0m
Tony Ho
CEO of Strategy & New Business Development and Director37.67yrsno data7.87%
NT$ 1.0b
Ting-Yang Liu
Independent Director5.75yrsno datano data
Yung-Chi Lai
Independent Director2.75yrsno datano data
Wen-Tzong Chen
Representative Director8.75yrsno datano data
Yeh Jo
Independent Director2.75yrsno datano 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2908TSEC (Taiwan Stock Exchange)YesCommon SharesTWTWDJun 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/04 08:40
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.