RiTdisplay Valuation

Is 8104 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 8104 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate 8104's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate 8104's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8104?

Key metric: As 8104 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 8104. This is calculated by dividing 8104's market cap by their current revenue.
What is 8104's PS Ratio?
PS Ratio	2.1x
Sales	NT$2.46b
Market Cap	NT$5.19b

8104 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/Revenue	2.6x
Enterprise Value/EBITDA	40.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 8104's PS Ratio compare to its peers?

The above table shows the PS ratio for 8104 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	3.2x
6417 Securitag Assembly Group	3.3x	n/a	NT$4.7b
8091 Feedback Technology	3.5x	n/a	NT$6.9b
6695 iCatch Technology	5.6x	n/a	NT$5.4b
8096 CoAsia Electronics	0.2x	n/a	NT$5.6b
8104 RiTdisplay	2.1x	131.2%	NT$5.2b

Price-To-Sales vs Peers: 8104 is good value based on its Price-To-Sales Ratio (2.1x) compared to the peer average (3.2x).

Price to Sales Ratio vs Industry

How does 8104's PS Ratio compare vs other companies in the TW Semiconductor Industry?

12 Companies	Price / Sales	Estimated Growth	Market Cap
6196 Marketech International	0.5x	8.6%	US$930.06m
3260 ADATA Technology	0.6x	2.1%	US$823.39m
6826 Taiwan Puritic	0.7x	n/a	US$332.22m
6120 Darwin Precisions	0.4x	n/a	US$274.79m

12 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 8104 is good value based on its Price-To-Sales Ratio (2.1x) compared to the TW Semiconductor industry average (3.5x).

Price to Sales Ratio vs Fair Ratio

What is 8104's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

8104 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.1x
Fair PS Ratio	65.9x

Price-To-Sales vs Fair Ratio: 8104 is good value based on its Price-To-Sales Ratio (2.1x) compared to the estimated Fair Price-To-Sales Ratio (65.9x).

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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