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6531

AP Memory Technology TWSE:6531 Stock Report

Last Price

NT$193.00

Market Cap

NT$31.2b

7D

-4.0%

1Y

-47.8%

Updated

07 Aug, 2022

Data

Company Financials +
6531 fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance5/6
Financial Health6/6
Dividends3/6

6531 Stock Overview

AP Memory Technology Corporation engages in designing, licensing, manufacturing, and selling customized memory chip products and technologies in Taiwan and internationally.

AP Memory Technology Competitors

Price History & Performance

Summary of all time highs, changes and price drops for AP Memory Technology
Historical stock prices
Current Share PriceNT$193.00
52 Week HighNT$625.00
52 Week LowNT$183.50
Beta2.64
1 Month Change-4.69%
3 Month Change-19.92%
1 Year Change-47.84%
3 Year Change896.13%
5 Year Change478.84%
Change since IPO312.19%

Recent News & Updates

Shareholder Returns

6531TW SemiconductorTW Market
7D-4.0%1.1%0.1%
1Y-47.8%-20.2%-14.4%

Return vs Industry: 6531 underperformed the TW Semiconductor industry which returned -20.2% over the past year.

Return vs Market: 6531 underperformed the TW Market which returned -14.4% over the past year.

Price Volatility

Is 6531's price volatile compared to industry and market?
6531 volatility
6531 Average Weekly Movement8.8%
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: 6531 is more volatile than 90% of TW stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: 6531's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of TW stocks.

About the Company

FoundedEmployeesCEOWebsite
2011n/aWen-Liang Chenhttps://www.apmemory.com

AP Memory Technology Corporation engages in designing, licensing, manufacturing, and selling customized memory chip products and technologies in Taiwan and internationally. It designs, manufactures, and sells memory-related IC products for use in functional cell phones and Internet of Things related products, including Prseudo SRAM for wearable devices application; and DRAM for use in ultra-low-power, ultra-high-bandwidth, and logic in-memory, as well as offers technical consulting services. The company was incorporated in 2011 and is headquartered in Zhubei, Taiwan.

AP Memory Technology Fundamentals Summary

How do AP Memory Technology's earnings and revenue compare to its market cap?
6531 fundamental statistics
Market CapNT$31.15b
Earnings (TTM)NT$2.40b
Revenue (TTM)NT$6.84b

13.0x

P/E Ratio

4.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
6531 income statement (TTM)
RevenueNT$6.84b
Cost of RevenueNT$3.76b
Gross ProfitNT$3.08b
Other ExpensesNT$685.91m
EarningsNT$2.40b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)14.86
Gross Margin45.09%
Net Profit Margin35.06%
Debt/Equity Ratio0%

How did 6531 perform over the long term?

See historical performance and comparison

Dividends

3.1%

Current Dividend Yield

39%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 6531 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 6531?

Other financial metrics that can be useful for relative valuation.

6531 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/Revenue3.4x
Enterprise Value/EBITDA9.7x
PEG Ratio7.3x

Price to Earnings Ratio vs Peers

How does 6531's PE Ratio compare to its peers?

6531 PE Ratio vs Peers
The above table shows the PE ratio for 6531 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average11.1x
2458 ELAN Microelectronics
6x-7.6%NT$28.9b
3374 Xintec
21.4x4.1%NT$35.1b
6278 Taiwan Surface Mounting Technology
5.6x17.0%NT$25.6b
3714 ENNOSTAR
11.4x-3.3%NT$32.8b
6531 AP Memory Technology
13x1.8%NT$31.2b

Price-To-Earnings vs Peers: 6531 is expensive based on its Price-To-Earnings Ratio (13x) compared to the peer average (11.1x).


Price to Earnings Ratio vs Industry

How does 6531's PE Ratio compare vs other companies in the TW Semiconductor Industry?

Price-To-Earnings vs Industry: 6531 is expensive based on its Price-To-Earnings Ratio (13x) compared to the TW Semiconductor industry average (12.3x)


Price to Earnings Ratio vs Fair Ratio

What is 6531'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.

6531 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13x
Fair PE Ratio14.1x

Price-To-Earnings vs Fair Ratio: 6531 is good value based on its Price-To-Earnings Ratio (13x) compared to the estimated Fair Price-To-Earnings Ratio (14.1x).


Share Price vs Fair Value

What is the Fair Price of 6531 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 6531 (NT$193) is trading above our estimate of fair value (NT$160.92)

Significantly Below Fair Value: 6531 is trading above our estimate of fair value.


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 AP Memory Technology forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

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


1.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 6531's forecast earnings growth (1.8% per year) is above the savings rate (0.7%).

Earnings vs Market: 6531's earnings (1.8% per year) are forecast to grow slower than the TW market (5.8% per year).

High Growth Earnings: 6531's earnings are forecast to grow, but not significantly.

Revenue vs Market: 6531's revenue (15.2% per year) is forecast to grow faster than the TW market (7.3% per year).

High Growth Revenue: 6531's revenue (15.2% 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 6531's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has AP Memory 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


55.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 6531 has a high level of non-cash earnings.

Growing Profit Margin: 6531's current net profit margins (35.1%) are higher than last year (31.8%).


Past Earnings Growth Analysis

Earnings Trend: 6531's earnings have grown significantly by 55% per year over the past 5 years.

Accelerating Growth: 6531's earnings growth over the past year (60.5%) exceeds its 5-year average (55% per year).

Earnings vs Industry: 6531 earnings growth over the past year (60.5%) exceeded the Semiconductor industry 56.5%.


Return on Equity

High ROE: 6531's Return on Equity (23.5%) is considered high.


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Financial Health

How is AP Memory 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: 6531's short term assets (NT$11.4B) exceed its short term liabilities (NT$2.2B).

Long Term Liabilities: 6531's short term assets (NT$11.4B) exceed its long term liabilities (NT$78.9M).


Debt to Equity History and Analysis

Debt Level: 6531 is debt free.

Reducing Debt: 6531 has no debt compared to 5 years ago when its debt to equity ratio was 5.6%.

Debt Coverage: 6531 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: 6531 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is AP Memory 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


3.11%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 6531's dividend (3.11%) is higher than the bottom 25% of dividend payers in the TW market (2.55%).

High Dividend: 6531's dividend (3.11%) is low compared to the top 25% of dividend payers in the TW market (6.64%).


Stability and Growth of Payments

Stable Dividend: 6531 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 6531's dividend payments have increased, but the company has only paid a dividend for 7 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (38.5%), 6531's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (55.5%), 6531'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?

1.0yrs

Average board tenure


CEO

Wen-Liang Chen

no data

Tenure

Mr. Wen-Liang Chen serves as Chief Executive Officer, Chief Technology Officer at AP Memory Technology Corporation and served as its President and also serves as its Chairman since March 4, 2021. Mr. Chen...


Board Members

Experienced Board: 6531's board of directors are not considered experienced ( 1 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 been diluted in the past year, with total shares outstanding growing by 9%.


Top Shareholders

Company Information

AP Memory Technology Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: AP Memory Technology Corporation
  • Ticker: 6531
  • Exchange: TWSE
  • Founded: 2011
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Implied Market Cap: NT$31.154b
  • Shares outstanding: 161.42m
  • Website: https://www.apmemory.com

Location

  • AP Memory Technology Corporation
  • No.1 Taiyuan 1st Street
  • 10th Floor-1
  • Zhubei
  • 30288
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/07 00:00
End of Day Share Price2022/08/05 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.