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2393

Everlight Electronics TWSE:2393 Stock Report

Last Price

NT$41.25

Market Cap

NT$18.7b

7D

-1.6%

1Y

-19.1%

Updated

30 Jun, 2022

Data

Company Financials +
2393 fundamental analysis
Snowflake Score
Valuation5/6
Future Growth2/6
Past Performance4/6
Financial Health6/6
Dividends4/6

2393 Stock Overview

Everlight Electronics Co., Ltd. manufactures and markets optoelectronics components in Taiwan and internationally.

Everlight Electronics Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Everlight Electronics
Historical stock prices
Current Share PriceNT$41.25
52 Week HighNT$68.90
52 Week LowNT$40.85
Beta0.92
1 Month Change-8.03%
3 Month Change-14.77%
1 Year Change-19.12%
3 Year Change40.31%
5 Year Change-15.73%
Change since IPO130.53%

Recent News & Updates

Shareholder Returns

2393TW SemiconductorTW Market
7D-1.6%-2.4%-0.5%
1Y-19.1%-20.0%-13.8%

Return vs Industry: 2393 matched the TW Semiconductor industry which returned -20% over the past year.

Return vs Market: 2393 underperformed the TW Market which returned -13.8% over the past year.

Price Volatility

Is 2393's price volatile compared to industry and market?
2393 volatility
2393 Average Weekly Movement3.8%
Semiconductor Industry Average Movement5.8%
Market Average Movement4.7%
10% most volatile stocks in TW Market8.2%
10% least volatile stocks in TW Market2.3%

Stable Share Price: 2393 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 2393's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1983n/aRobert Yehhttps://www.everlight.com

Everlight Electronics Co., Ltd. manufactures and markets optoelectronics components in Taiwan and internationally. It offers visible LEDs, such as lighting, horticulture lighting, UV, flash, automotive, lamp, SMD, digital displays, backlight, and signage LEDs; and infrared LEDs comprising infrared LED and silicon detectors, infrared receiver modules, optic fiber devices, and optical switches. The company also provides sensors, such as ambient light, proximity, and color sensors; and photo couplers, including photo transistors and darlington, schmitt triggers, high speed products, triac drivers, solid state relays, and IGBT gate drivers.

Everlight Electronics Fundamentals Summary

How do Everlight Electronics's earnings and revenue compare to its market cap?
2393 fundamental statistics
Market CapNT$18.73b
Earnings (TTM)NT$1.95b
Revenue (TTM)NT$24.65b

9.4x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2393 income statement (TTM)
RevenueNT$24.65b
Cost of RevenueNT$17.96b
Gross ProfitNT$6.69b
Other ExpensesNT$4.74b
EarningsNT$1.95b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)4.39
Gross Margin27.14%
Net Profit Margin7.89%
Debt/Equity Ratio14.6%

How did 2393 perform over the long term?

See historical performance and comparison

Dividends

8.5%

Current Dividend Yield

80%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 2393 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2393?

Other financial metrics that can be useful for relative valuation.

2393 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/Revenue0.5x
Enterprise Value/EBITDA3x
PEG Ratio1.1x

Price to Earnings Ratio vs Peers

How does 2393's PE Ratio compare to its peers?

2393 PE Ratio vs Peers
The above table shows the PE ratio for 2393 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.3x
8131 Formosa Advanced Technologies
10.6xn/aNT$17.5b
2340 Taiwan-Asia Semiconductor
26x31.4%NT$18.6b
5425 Taiwan Semiconductor
16.3xn/aNT$17.7b
3264 Ardentec
6.2xn/aNT$17.0b
2393 Everlight Electronics
9.4x8.3%NT$18.3b

Price-To-Earnings vs Peers: 2393 is good value based on its Price-To-Earnings Ratio (9.4x) compared to the peer average (15.3x).


Price to Earnings Ratio vs Industry

How does 2393's PE Ratio compare vs other companies in the TW Semiconductor Industry?

Price-To-Earnings vs Industry: 2393 is good value based on its Price-To-Earnings Ratio (9.4x) compared to the TW Semiconductor industry average (13.3x)


Price to Earnings Ratio vs Fair Ratio

What is 2393'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.

2393 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.4x
Fair PE Ratio13.1x

Price-To-Earnings vs Fair Ratio: 2393 is good value based on its Price-To-Earnings Ratio (9.4x) compared to the estimated Fair Price-To-Earnings Ratio (13.1x).


Share Price vs Fair Value

What is the Fair Price of 2393 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2393 (NT$41.25) is trading below our estimate of fair value (NT$106.04)

Significantly Below Fair Value: 2393 is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: 2393 is poor value based on its PEG Ratio (1.1x)


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Future Growth

How is Everlight Electronics forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


8.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2393's forecast earnings growth (8.3% per year) is above the savings rate (0.7%).

Earnings vs Market: 2393's earnings (8.3% per year) are forecast to grow faster than the TW market (7.4% per year).

High Growth Earnings: 2393's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2393's revenue (7.1% per year) is forecast to grow slower than the TW market (7.7% per year).

High Growth Revenue: 2393's revenue (7.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 2393's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has Everlight Electronics performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


9.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 2393 has high quality earnings.

Growing Profit Margin: 2393's current net profit margins (7.9%) are higher than last year (7.1%).


Past Earnings Growth Analysis

Earnings Trend: 2393's earnings have grown by 9.3% per year over the past 5 years.

Accelerating Growth: 2393's earnings growth over the past year (19.1%) exceeds its 5-year average (9.3% per year).

Earnings vs Industry: 2393 earnings growth over the past year (19.1%) underperformed the Semiconductor industry 67%.


Return on Equity

High ROE: 2393's Return on Equity (10.2%) is considered low.


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Financial Health

How is Everlight Electronics's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 2393's short term assets (NT$20.6B) exceed its short term liabilities (NT$10.7B).

Long Term Liabilities: 2393's short term assets (NT$20.6B) exceed its long term liabilities (NT$762.8M).


Debt to Equity History and Analysis

Debt Level: 2393 has more cash than its total debt.

Reducing Debt: 2393's debt to equity ratio has reduced from 52.8% to 14.6% over the past 5 years.

Debt Coverage: 2393's debt is well covered by operating cash flow (140.5%).

Interest Coverage: 2393 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Everlight Electronics's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


8.48%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 2393's dividend (8.48%) is higher than the bottom 25% of dividend payers in the TW market (2.57%).

High Dividend: 2393's dividend (8.48%) is in the top 25% of dividend payers in the TW market (6.35%)


Stability and Growth of Payments

Stable Dividend: 2393's dividend payments have been volatile in the past 10 years.

Growing Dividend: 2393's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (79.8%), 2393's payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (54.5%), 2393's dividend payments are covered by cash flows.


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Management

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

11.8yrs

Average management tenure


CEO

Robert Yeh (70 yo)

39.08yrs

Tenure

Mr. Yin-Fu Yeh, also known as Robert, serves as the Chairman and President of Everlight Electronics Co. Ltd. since June 22, 2012 and May 15, 1983 respectively, and has also been its Director since June 198...


Leadership Team

Experienced Management: 2393's management team is seasoned and experienced (11.8 years average tenure).


Board Members

Experienced Board: 2393's board of directors are considered experienced (7 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

Everlight Electronics Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Everlight Electronics Co., Ltd.
  • Ticker: 2393
  • Exchange: TWSE
  • Founded: 1983
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Implied Market Cap: NT$18.733b
  • Shares outstanding: 443.39m
  • Website: https://www.everlight.com

Location

  • Everlight Electronics Co., Ltd.
  • No. 6-8, Zhonghua Road
  • Shu-Ling District
  • New Taipei City
  • 23860
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/30 00:00
Earnings2022/03/31
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.