Stock Analysis Report

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GrandTech C.G. Systems

Executive Summary

GrandTech C.G. Systems Inc. operates as a distributor of graphics, imaging, and multimedia design software. More Details

Snowflake Analysis

Outstanding track record with excellent balance sheet and pays a dividend.

Share Price & News

How has GrandTech C.G. Systems's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: 6123 is less volatile than 75% of TW stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: 6123's weekly volatility (2%) has been stable over the past year.

Market Performance

7 Day Return




TW Electronic


TW Market

1 Year Return




TW Electronic


TW Market

Return vs Industry: 6123 underperformed the TW Electronic industry which returned 16.1% over the past year.

Return vs Market: 6123 underperformed the TW Market which returned 28.6% over the past year.

Shareholder returns

7 Day-0.8%-1.6%-0.2%
30 Day4.2%9.1%8.8%
90 Day7.2%21.8%20.6%
1 Year3.0%-5.5%20.2%16.1%33.1%28.6%
3 Year2.5%-19.1%31.4%15.8%55.3%37.8%
5 Year147.8%69.6%112.6%74.1%135.7%94.2%

Long-Term Price Volatility Vs. Market

How volatile is GrandTech C.G. Systems's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is GrandTech C.G. Systems undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 6123 (NT$41) is trading below our estimate of fair value (NT$72.47)

Significantly Below Fair Value: 6123 is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: 6123 is good value based on its PE Ratio (9.5x) compared to the TW Electronic industry average (17.1x).

PE vs Market: 6123 is good value based on its PE Ratio (9.5x) compared to the TW market (18.4x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 6123's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: 6123 is overvalued based on its PB Ratio (2.4x) compared to the TW Electronic industry average (1.6x).

Next Steps

Future Growth

How is GrandTech C.G. Systems forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Tech industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as GrandTech C.G. Systems has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Next Steps

Past Performance

How has GrandTech C.G. Systems performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 6123 has high quality earnings.

Growing Profit Margin: 6123's current net profit margins (4.9%) are higher than last year (3.8%).

Past Earnings Growth Analysis

Earnings Trend: 6123's earnings have grown by 11.2% per year over the past 5 years.

Accelerating Growth: 6123's earnings growth over the past year (22.5%) exceeds its 5-year average (11.2% per year).

Earnings vs Industry: 6123 earnings growth over the past year (22.5%) exceeded the Electronic industry 5%.

Return on Equity

High ROE: 6123's Return on Equity (24.6%) is considered high.

Next Steps

Financial Health

How is GrandTech C.G. Systems's financial position?

Financial Position Analysis

Short Term Liabilities: 6123's short term assets (NT$2.2B) exceed its short term liabilities (NT$1.4B).

Long Term Liabilities: 6123's short term assets (NT$2.2B) exceed its long term liabilities (NT$59.2M).

Debt to Equity History and Analysis

Debt Level: 6123's debt to equity ratio (55.2%) is considered high.

Reducing Debt: 6123's debt to equity ratio has reduced from 62.1% to 55.2% over the past 5 years.

Debt Coverage: 6123's debt is well covered by operating cash flow (52%).

Interest Coverage: 6123 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

Next Steps


What is GrandTech C.G. Systems's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 6123's dividend (8.78%) is higher than the bottom 25% of dividend payers in the TW market (2.13%).

High Dividend: 6123's dividend (8.78%) is in the top 25% of dividend payers in the TW market (5.17%)

Stability and Growth of Payments

Stable Dividend: 6123's dividend payments have been volatile in the past 10 years.

Growing Dividend: 6123's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (83.5%), 6123's payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Next Steps


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


Average board tenure


Frankie Hsu

no data


Mr. Frankie Hsu serves as Director of GrandTech C.G. Systems Inc. since June 6, 2019. Mr. Hsu serves as the Chief Executive Officer of Grandtech CG Systems inc. Mr. Hsu serves as President of Ability Inter...

Board Members

Frankie Hsu
CEO & Directorno datano datano data
Jason Ngoi
Director and Corporate Senior VP & GM of Taiwan & HK1.58yrsno datano data
Joseph Huang
Director1.58yrsno datano data
Robert Chuang
Director1.58yrsno datano data
Jackie Yang
Director1.58yrsno datano data
Roy Chuang
Director1.58yrsno datano data
Thu-Hua Liu
Independent Director1.58yrsno datano data
Te-Jui Lin
Independent Director1.58yrsno datano data
Philip Chen
Independent Director1.58yrsno datano data


Average Tenure

Experienced Board: 6123's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.


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

GrandTech C.G. Systems Inc.'s company bio, employee growth, exchange listings and data sources

Key Information

  • Name: GrandTech C.G. Systems Inc.
  • Ticker: 6123
  • Exchange: GTSM
  • Founded: 1991
  • Industry: Technology Distributors
  • Sector: Tech
  • Market Cap: NT$2.343b
  • Shares outstanding: 57.15m
  • Website:


  • GrandTech C.G. Systems Inc.
  • No.33, Ruiguang Road
  • 3rd Floor
  • Taipei
  • 114
  • Taiwan


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
6123GTSM (Taipei Exchange)YesCommon StockTWTWDJan 2002


GrandTech C.G. Systems Inc. operates as a distributor of graphics, imaging, and multimedia design software. The company distributes 2D and 3D professional software products; digital printing equipment and ...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/21 17:21
End of Day Share Price2021/01/21 00:00
Annual Earnings2019/12/31

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.