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6515

WinWay Technology TWSE:6515 Stock Report

Last Price

NT$374.00

Market Cap

NT$12.8b

7D

-7.2%

1Y

45.8%

Updated

11 Aug, 2022

Data

Company Financials +
6515 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth6/6
Past Performance5/6
Financial Health6/6
Dividends3/6

6515 Stock Overview

WinWay Technology Co., Ltd. designs, manufactures, processes, and sells optoelectronic product test fixtures, integrated circuit test interfaces, and fixtures and their components in Taiwan, the United States, China, Europe, Canada, and Asia.

WinWay Technology Competitors

Price History & Performance

Summary of all time highs, changes and price drops for WinWay Technology
Historical stock prices
Current Share PriceNT$374.00
52 Week HighNT$479.00
52 Week LowNT$232.00
Beta1.05
1 Month Change20.26%
3 Month Change5.20%
1 Year Change45.81%
3 Year Changen/a
5 Year Changen/a
Change since IPO-35.85%

Recent News & Updates

Shareholder Returns

6515TW SemiconductorTW Market
7D-7.2%1.9%2.2%
1Y45.8%-18.0%-11.0%

Return vs Industry: 6515 exceeded the TW Semiconductor industry which returned -21.1% over the past year.

Return vs Market: 6515 exceeded the TW Market which returned -13.2% over the past year.

Price Volatility

Is 6515's price volatile compared to industry and market?
6515 volatility
6515 Average Weekly Movement8.5%
Semiconductor Industry Average Movement6.4%
Market Average Movement5.0%
10% most volatile stocks in TW Market8.3%
10% least volatile stocks in TW Market2.5%

Stable Share Price: 6515 is more volatile than 90% of TW stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: 6515's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of TW stocks.

About the Company

FoundedEmployeesCEOWebsite
2001n/aMark Wanghttps://www.winwayglobal.com

WinWay Technology Co., Ltd. designs, manufactures, processes, and sells optoelectronic product test fixtures, integrated circuit test interfaces, and fixtures and their components in Taiwan, the United States, China, Europe, Canada, and Asia. Its products include coaxial, spring probe, and PoP sockets; elastomers; vertical and WLCSP probe cards; and thermal control systems, high performance heat sink lids, high performance test sockets, changeover kits, direct docking probe cards, burn-in sockets, and contact element products. The company also engages in the provision of professional and technical support services; and import and export trade of related products.

WinWay Technology Fundamentals Summary

How do WinWay Technology's earnings and revenue compare to its market cap?
6515 fundamental statistics
Market CapNT$12.81b
Earnings (TTM)NT$560.34m
Revenue (TTM)NT$3.14b

22.9x

P/E Ratio

4.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
6515 income statement (TTM)
RevenueNT$3.14b
Cost of RevenueNT$1.83b
Gross ProfitNT$1.31b
Other ExpensesNT$753.01m
EarningsNT$560.34m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)16.36
Gross Margin41.81%
Net Profit Margin17.84%
Debt/Equity Ratio0%

How did 6515 perform over the long term?

See historical performance and comparison

Dividends

2.9%

Current Dividend Yield

67%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 6515 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 6515?

Other financial metrics that can be useful for relative valuation.

6515 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/Revenue3.5x
Enterprise Value/EBITDA14.8x
PEG Ratio1x

Price to Earnings Ratio vs Peers

How does 6515's PE Ratio compare to its peers?

6515 PE Ratio vs Peers
The above table shows the PE ratio for 6515 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average14.6x
2455 Visual Photonics Epitaxy
15.7xn/aNT$12.6b
2351 SDI
22.9x21.5%NT$21.0b
3413 Foxsemicon Integrated Technology
9.4x5.0%NT$17.8b
6223 MPI
10.3xn/aNT$8.9b
6515 WinWay Technology
22.9x22.6%NT$12.8b

Price-To-Earnings vs Peers: 6515 is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the peer average (14.6x).


Price to Earnings Ratio vs Industry

How does 6515's PE Ratio compare vs other companies in the TW Semiconductor Industry?

Price-To-Earnings vs Industry: 6515 is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the TW Semiconductor industry average (12.1x)


Price to Earnings Ratio vs Fair Ratio

What is 6515'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.

6515 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.9x
Fair PE Ratio18.9x

Price-To-Earnings vs Fair Ratio: 6515 is expensive based on its Price-To-Earnings Ratio (22.9x) compared to the estimated Fair Price-To-Earnings Ratio (18.9x).


Share Price vs Fair Value

What is the Fair Price of 6515 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 6515 (NT$374) is trading below our estimate of fair value (NT$651.83)

Significantly Below Fair Value: 6515 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 WinWay Technology forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

6/6

Future Growth Score 6/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


22.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6515's forecast earnings growth (22.6% per year) is above the savings rate (0.7%).

Earnings vs Market: 6515's earnings (22.6% per year) are forecast to grow faster than the TW market (5.8% per year).

High Growth Earnings: 6515's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 6515's revenue (20.3% per year) is forecast to grow faster than the TW market (7.2% per year).

High Growth Revenue: 6515's revenue (20.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 6515's Return on Equity is forecast to be high in 3 years time (28.1%)


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Past Performance

How has WinWay 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


14.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 6515 has high quality earnings.

Growing Profit Margin: 6515's current net profit margins (17.8%) are higher than last year (16.6%).


Past Earnings Growth Analysis

Earnings Trend: 6515's earnings have grown by 14.6% per year over the past 5 years.

Accelerating Growth: 6515's earnings growth over the past year (18.2%) exceeds its 5-year average (14.6% per year).

Earnings vs Industry: 6515 earnings growth over the past year (18.2%) underperformed the Semiconductor industry 58.2%.


Return on Equity

High ROE: 6515's Return on Equity (20.8%) is considered high.


Discover strong past performing companies

Financial Health

How is WinWay Technology'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: 6515's short term assets (NT$2.9B) exceed its short term liabilities (NT$1.4B).

Long Term Liabilities: 6515's short term assets (NT$2.9B) exceed its long term liabilities (NT$53.3M).


Debt to Equity History and Analysis

Debt Level: 6515 is debt free.

Reducing Debt: 6515 had no debt 5 years ago.

Debt Coverage: 6515 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 6515 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is WinWay 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


2.94%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 6515's dividend (2.94%) is higher than the bottom 25% of dividend payers in the TW market (2.53%).

High Dividend: 6515's dividend (2.94%) is low compared to the top 25% of dividend payers in the TW market (6.58%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether 6515's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if 6515's dividend payments are increasing as they only just started paying a dividend.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (66.5%), 6515's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: At its current cash payout ratio (89.2%), 6515's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

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

2.6yrs

Average board tenure


CEO

Mark Wang

21.33yrs

Tenure

Mr. Mark Wang founded WinWay Technology Co., Ltd. in 2001 and serves as Chief Executive Officer since April 01, 2001 also serves as the Chairman of the Board since January 10, 2020.


Board Members

Experienced Board: 6515's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


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

WinWay Technology Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: WinWay Technology Co., Ltd.
  • Ticker: 6515
  • Exchange: TWSE
  • Founded: 2001
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Implied Market Cap: NT$12.809b
  • Shares outstanding: 34.25m
  • Website: https://www.winwayglobal.com

Location

  • WinWay Technology Co., Ltd.
  • No. 68, Chuangyi South Road
  • Nanzih District
  • Kaohsiung
  • 811
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/11 00:00
End of Day Share Price2022/08/11 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.