Bin Chuan Enterprise Valuation

Q: What is the Fair Price of 1569 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

1569 (NT$62.5) is trading above our estimate of [[fair value]] (NT$2.13)

Is 1569 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

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 1569 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1569 (NT$62.5) is trading above our estimate of fair value (NT$2.13)

Significantly Below Fair Value: 1569 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1569?

Key metric: As 1569 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 1569. This is calculated by dividing 1569's market cap by their current revenue.
What is 1569's PS Ratio?
PS Ratio	2.5x
Sales	NT$3.07b
Market Cap	NT$7.59b

1569 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	2.8x
Enterprise Value/EBITDA	110.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 1569's PS Ratio compare to its peers?

The above table shows the PS ratio for 1569 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	5.2x
5474 Yuan High-Tech Development	5.1x	n/a	NT$6.3b
2397 DFI	1x	n/a	NT$8.7b
2405 Shuttle	4.2x	n/a	NT$7.2b
2365 KYE Systems	10.5x	n/a	NT$10.0b
1569 Bin Chuan Enterprise	2.5x	n/a	NT$7.6b

Price-To-Sales vs Peers: 1569 is good value based on its Price-To-Sales Ratio (2.5x) compared to the peer average (5.2x).

Price to Sales Ratio vs Industry

How does 1569's PS Ratio compare vs other companies in the TW Tech Industry?

4 Companies	Price / Sales	Estimated Growth	Market Cap
4938 Pegatron	0.2x	7.2%	US$7.99b
2324 Compal Electronics	0.2x	4.9%	US$5.13b
2414 Unitech Computer	0.3x	n/a	US$192.66m
3202 High-Tek Harness Enterprise	0.1x	n/a	US$25.44m

No more companies available in this PS range

4 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 1569 is expensive based on its Price-To-Sales Ratio (2.5x) compared to the TW Tech industry average (1.6x).

Price to Sales Ratio vs Fair Ratio

What is 1569'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.

1569 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.5x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 1569's Price-To-Sales Fair Ratio for valuation analysis.

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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