TSEC:9902

Stock Analysis Report

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Tidehold Development

Executive Summary

Tidehold Development Co., Ltd. engages in the international trade business. More Details


Snowflake Analysis

Excellent balance sheet and slightly overvalued.

Share Price & News

How has Tidehold Development's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 9902 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: 9902's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

-0.9%

9902

-1.6%

TW Retail Distributors

-3.2%

TW Market


1 Year Return

23.9%

9902

15.5%

TW Retail Distributors

38.1%

TW Market

Return vs Industry: 9902 exceeded the TW Retail Distributors industry which returned 15.5% over the past year.

Return vs Market: 9902 underperformed the TW Market which returned 38.1% over the past year.


Shareholder returns

9902IndustryMarket
7 Day-0.9%-1.6%-3.2%
30 Day7.5%2.5%1.5%
90 Day9.5%-1.4%12.1%
1 Year28.7%23.9%20.8%15.5%43.0%38.1%
3 Year24.6%16.4%18.1%4.8%63.9%45.5%
5 Year21.6%11.1%64.4%32.6%120.0%81.3%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Tidehold Development undervalued compared to its fair value and its price relative to the market?

0.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 9902 (NT$11.5) is trading below our estimate of fair value (NT$11.56)

Significantly Below Fair Value: 9902 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: 9902 is poor value based on its PE Ratio (44x) compared to the TW Retail Distributors industry average (18x).

PE vs Market: 9902 is poor value based on its PE Ratio (44x) compared to the TW market (19.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 9902's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 9902 is good value based on its PB Ratio (0.9x) compared to the TW Retail Distributors industry average (1.4x).


Next Steps

Future Growth

How is Tidehold Development 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 Tidehold Development 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 Tidehold Development performed over the past 5 years?

25.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 9902 has a large one-off gain of NT$30.2M impacting its September 30 2020 financial results.

Growing Profit Margin: 9902's current net profit margins (6.1%) are lower than last year (22.4%).


Past Earnings Growth Analysis

Earnings Trend: 9902's earnings have grown significantly by 25.8% per year over the past 5 years.

Accelerating Growth: 9902's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 9902 had negative earnings growth (-36.9%) over the past year, making it difficult to compare to the Retail Distributors industry average (-23.2%).


Return on Equity

High ROE: 9902's Return on Equity (2.1%) is considered low.


Next Steps

Financial Health

How is Tidehold Development's financial position?


Financial Position Analysis

Short Term Liabilities: 9902's short term assets (NT$532.5M) exceed its short term liabilities (NT$37.6M).

Long Term Liabilities: 9902's short term assets (NT$532.5M) exceed its long term liabilities (NT$36.4M).


Debt to Equity History and Analysis

Debt Level: 9902's debt to equity ratio (0.6%) is considered satisfactory.

Reducing Debt: 9902's debt to equity ratio has reduced from 0.8% to 0.6% over the past 5 years.

Debt Coverage: 9902's debt is well covered by operating cash flow (364.1%).

Interest Coverage: Insufficient data to determine if 9902's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is Tidehold Development current dividend yield, its reliability and sustainability?

3.48%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 9902's dividend (3.48%) is higher than the bottom 25% of dividend payers in the TW market (1.99%).

High Dividend: 9902's dividend (3.48%) is low compared to the top 25% of dividend payers in the TW market (5%).


Stability and Growth of Payments

Stable Dividend: 9902 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 9902's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (152.9%), 9902's dividend payments are not 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?

11.3yrs

Average management tenure


CEO

Fu Xing Wu

11.33yrs

Tenure

NT$2,377,000

Compensation

Fu Xing Wu has been President at Tidehold Development Co. Ltd. since November 3, 2009. Fu Xing Wu has been Director at Tidehold Development Co. Ltd. since June 15, 2011. Fu Xing Wu serves as Director of Xi...


Leadership Team

NamePositionTenureCompensationOwnership
Fu Xing Wu
President and Director11.33yrsNT$2.38mno data
He Lin
Vice President and Director33.75yrsNT$1.24mno data
Cheng Chuan Zhang
Vice President11.33yrsNT$738.00kno data

11.3yrs

Average Tenure

Experienced Management: 9902's management team is seasoned and experienced (11.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Fu Xing Wu
President and Director11.33yrsNT$2.38mno data
He Lin
Vice President and Director33.75yrsNT$1.24mno data
Tai Qi Li
Chairman41.42yrsNT$2.73mno data
Jun Yong Li
Director33.75yrsNT$507.00kno data
Cheng Ming Li
Director20.75yrsNT$222.00kno data
Hong Shu Fan
Supervisor9.75yrsNT$222.00kno data
Ming Fang Chen
Supervisor9.75yrsNT$222.00kno data

20.8yrs

Average Tenure

Experienced Board: 9902's board of directors are seasoned and experienced ( 20.8 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

Tidehold Development Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tidehold Development Co., Ltd.
  • Ticker: 9902
  • Exchange: TSEC
  • Founded: 1949
  • Industry: Distributors
  • Sector: Retail
  • Market Cap: NT$1.157b
  • Shares outstanding: 98.01m
  • Website: https://www.tidehold.com

Number of Employees


Location

  • Tidehold Development Co., Ltd.
  • No. 75, Yen-Ping South Road
  • 2nd Floor
  • Taipei
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
9902TSEC (Taiwan Stock Exchange)YesCommon StockTWTWDJan 1992

Biography

Tidehold Development Co., Ltd. engages in the international trade business. It develops and rents residential and other buildings; rents minibus; and sells gas-electric garbage truck businesses. The compan...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/05 08:46
End of Day Share Price2021/03/05 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.