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6278

Taiwan Surface Mounting Technology TWSE:6278 Stock Report

Last Price

NT$104.50

Market Cap

NT$29.7b

7D

4.5%

1Y

2.5%

Updated

18 Aug, 2022

Data

Company Financials +
6278 fundamental analysis
Snowflake Score
Valuation5/6
Future Growth4/6
Past Performance5/6
Financial Health5/6
Dividends3/6

6278 Stock Overview

Taiwan Surface Mounting Technology Corp. provides LCD surface-mount technology production solutions worldwide.

Taiwan Surface Mounting Technology Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Taiwan Surface Mounting Technology
Historical stock prices
Current Share PriceNT$104.50
52 Week HighNT$144.00
52 Week LowNT$75.10
Beta1.33
1 Month Change22.80%
3 Month Change-0.48%
1 Year Change2.45%
3 Year Change32.78%
5 Year Change319.68%
Change since IPO1,070.36%

Recent News & Updates

Shareholder Returns

6278TW SemiconductorTW Market
7D4.5%5.9%3.6%
1Y2.5%-13.9%-7.8%

Return vs Industry: 6278 exceeded the TW Semiconductor industry which returned -13.9% over the past year.

Return vs Market: 6278 exceeded the TW Market which returned -7.8% over the past year.

Price Volatility

Is 6278's price volatile compared to industry and market?
6278 volatility
6278 Average Weekly Movement6.8%
Semiconductor Industry Average Movement6.5%
Market Average Movement5.1%
10% most volatile stocks in TW Market8.4%
10% least volatile stocks in TW Market2.5%

Stable Share Price: 6278 is more volatile than 75% of TW stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 6278's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of TW stocks.

About the Company

FoundedEmployeesCEOWebsite
1990n/aKai-Yun Wuhttps://www.tsmt.com.tw

Taiwan Surface Mounting Technology Corp. provides LCD surface-mount technology production solutions worldwide. The company offers digital camera and cellular phone LCD panel, notebook and television TFT-LCD panel, LED TV power supply, and LCD TV inverter control boards. It also provides micro projector and touch panel, DVD R/W, TV set, and lighting application control boards, as well as wireless controllers and refrigerator display panels; and digital camera/cellular, automotive dashboard panel, notebook, and PC/LCD television backlight bars.

Taiwan Surface Mounting Technology Fundamentals Summary

How do Taiwan Surface Mounting Technology's earnings and revenue compare to its market cap?
6278 fundamental statistics
Market CapNT$29.68b
Earnings (TTM)NT$4.50b
Revenue (TTM)NT$71.96b

6.8x

P/E Ratio

0.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
6278 income statement (TTM)
RevenueNT$71.96b
Cost of RevenueNT$62.81b
Gross ProfitNT$9.15b
Other ExpensesNT$4.66b
EarningsNT$4.50b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)15.38
Gross Margin12.72%
Net Profit Margin6.25%
Debt/Equity Ratio56.2%

How did 6278 perform over the long term?

See historical performance and comparison

Dividends

5.7%

Current Dividend Yield

39%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 6278 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

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 6278?

Other financial metrics that can be useful for relative valuation.

6278 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/Revenue0.4x
Enterprise Value/EBITDA3.6x
PEG Ratio0.3x

Price to Earnings Ratio vs Peers

How does 6278's PE Ratio compare to its peers?

6278 PE Ratio vs Peers
The above table shows the PE ratio for 6278 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average11.2x
2458 ELAN Microelectronics
6.9x-4.1%NT$29.3b
6531 AP Memory Technology
14.1x1.8%NT$33.3b
3374 Xintec
17.1x-4.1%NT$33.6b
6257 Sigurd Microelectronics
7x-7.8%NT$23.3b
6278 Taiwan Surface Mounting Technology
6.8x20.8%NT$29.7b

Price-To-Earnings vs Peers: 6278 is good value based on its Price-To-Earnings Ratio (6.8x) compared to the peer average (11.2x).


Price to Earnings Ratio vs Industry

How does 6278's PE Ratio compare vs other companies in the TW Semiconductor Industry?

Price-To-Earnings vs Industry: 6278 is good value based on its Price-To-Earnings Ratio (6.8x) compared to the TW Semiconductor industry average (12.9x)


Price to Earnings Ratio vs Fair Ratio

What is 6278'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.

6278 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.8x
Fair PE Ratio18.2x

Price-To-Earnings vs Fair Ratio: 6278 is good value based on its Price-To-Earnings Ratio (6.8x) compared to the estimated Fair Price-To-Earnings Ratio (18.2x).


Share Price vs Fair Value

What is the Fair Price of 6278 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 6278 (NT$104.5) is trading below our estimate of fair value (NT$189.31)

Significantly Below Fair Value: 6278 is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Taiwan Surface Mounting Technology forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


20.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6278's forecast earnings growth (20.8% per year) is above the savings rate (0.7%).

Earnings vs Market: 6278's earnings (20.8% per year) are forecast to grow faster than the TW market (6.2% per year).

High Growth Earnings: 6278's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 6278's revenue (9.4% per year) is forecast to grow faster than the TW market (7.2% per year).

High Growth Revenue: 6278's revenue (9.4% 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 6278's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has Taiwan Surface Mounting Technology performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


39.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 6278 has a high level of non-cash earnings.

Growing Profit Margin: 6278's current net profit margins (6.3%) are higher than last year (5.5%).


Past Earnings Growth Analysis

Earnings Trend: 6278's earnings have grown significantly by 39% per year over the past 5 years.

Accelerating Growth: 6278's earnings growth over the past year (61%) exceeds its 5-year average (39% per year).

Earnings vs Industry: 6278 earnings growth over the past year (61%) exceeded the Semiconductor industry 50.6%.


Return on Equity

High ROE: 6278's Return on Equity (26.2%) is considered high.


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Financial Health

How is Taiwan Surface Mounting Technology's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 6278's short term assets (NT$37.4B) exceed its short term liabilities (NT$30.6B).

Long Term Liabilities: 6278's short term assets (NT$37.4B) exceed its long term liabilities (NT$5.4B).


Debt to Equity History and Analysis

Debt Level: 6278 has more cash than its total debt.

Reducing Debt: 6278's debt to equity ratio has increased from 39.4% to 56.2% over the past 5 years.

Debt Coverage: 6278's debt is well covered by operating cash flow (47.7%).

Interest Coverage: 6278's interest payments on its debt are well covered by EBIT (56.3x coverage).


Balance Sheet


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Dividend

What is Taiwan Surface Mounting Technology 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

  • Cash Flow Coverage


5.74%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 6278's dividend (5.74%) is higher than the bottom 25% of dividend payers in the TW market (2.46%).

High Dividend: 6278's dividend (5.74%) is low compared to the top 25% of dividend payers in the TW market (6.44%).


Stability and Growth of Payments

Stable Dividend: 6278's dividend payments have been volatile in the past 10 years.

Growing Dividend: 6278's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (39%), 6278's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (618.4%), 6278's dividend payments are not well covered by cash flows.


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Management

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

14.5yrs

Average management tenure


CEO

Kai-Yun Wu (62 yo)

31.33yrs

Tenure

Mr. Kai-Yun Wu has been the Chief Executive Officer of Regent Manner International Holdings Limited since January 22, 2013. He is Chairman at Taiwan Surface Mounting Technology Corp. and also its Director...


Leadership Team

Experienced Management: 6278's management team is seasoned and experienced (14.5 years average tenure).


Board Members

Experienced Board: 6278's board of directors are seasoned and experienced ( 16.8 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

Taiwan Surface Mounting Technology Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: Taiwan Surface Mounting Technology Corp.
  • Ticker: 6278
  • Exchange: TWSE
  • Founded: 1990
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Implied Market Cap: NT$29.678b
  • Shares outstanding: 292.40m
  • Website: https://www.tsmt.com.tw

Location

  • Taiwan Surface Mounting Technology Corp.
  • No.437, Taoying Road
  • Taoyuan District
  • Taoyuan City
  • 330
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/18 00:00
End of Day Share Price2022/08/18 00:00
Earnings2022/06/30
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.