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3426

Tai Shing Electronics Components TPEX:3426 Stock Report

Last Price

NT$38.10

Market Cap

NT$1.0b

7D

0%

1Y

-5.9%

Updated

27 Jun, 2022

Data

Company Financials
3426 fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance2/6
Financial Health5/6
Dividends2/6

3426 Stock Overview

Tai Shing Electronics Components Corporation researches, designs, develops, manufactures, and sells solenoids, and solenoid valve and relay products.

Tai Shing Electronics Components Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Tai Shing Electronics Components
Historical stock prices
Current Share PriceNT$38.10
52 Week HighNT$40.65
52 Week LowNT$36.10
Beta0.51
1 Month Change0.26%
3 Month Change-0.39%
1 Year Change-5.93%
3 Year Change-14.29%
5 Year Change-30.83%
Change since IPO15.75%

Recent News & Updates

Shareholder Returns

3426TW ElectronicTW Market
7D0%-0.2%-1.0%
1Y-5.9%-12.0%-11.3%

Return vs Industry: 3426 exceeded the TW Electronic industry which returned -13.7% over the past year.

Return vs Market: 3426 exceeded the TW Market which returned -12.3% over the past year.

Price Volatility

Is 3426's price volatile compared to industry and market?
3426 volatility
3426 Average Weekly Movement1.4%
Electronic Industry Average Movement5.2%
Market Average Movement4.7%
10% most volatile stocks in TW Market8.3%
10% least volatile stocks in TW Market2.3%

Stable Share Price: 3426 is less volatile than 75% of TW stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: 3426's weekly volatility (1%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1984n/aWilliam Yanghttps://www.tai-shing.com.tw

Tai Shing Electronics Components Corporation researches, designs, develops, manufactures, and sells solenoids, and solenoid valve and relay products. The company offers linear, rotary, flapping, and sucker-type electromagnet products; and water, air, and oil solenoid valves. It also provides signal, power, automotive, and SSR relay products; and brakes.

Tai Shing Electronics Components Fundamentals Summary

How do Tai Shing Electronics Components's earnings and revenue compare to its market cap?
3426 fundamental statistics
Market CapNT$1.01b
Earnings (TTM)NT$68.84m
Revenue (TTM)NT$731.76m

14.6x

P/E Ratio

1.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
3426 income statement (TTM)
RevenueNT$731.76m
Cost of RevenueNT$511.30m
Gross ProfitNT$220.45m
Other ExpensesNT$151.62m
EarningsNT$68.84m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)2.61
Gross Margin30.13%
Net Profit Margin9.41%
Debt/Equity Ratio10.0%

How did 3426 perform over the long term?

See historical performance and comparison

Dividends

5.2%

Current Dividend Yield

77%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 3426 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

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3426?

Other financial metrics that can be useful for relative valuation.

3426 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/Revenue0.6x
Enterprise Value/EBITDA5.2x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does 3426's PE Ratio compare to its peers?

3426 PE Ratio vs Peers
The above table shows the PE ratio for 3426 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average37.9x
5230 Ledlink Optics
16.4xn/aNT$1.1b
3585 Advance Materials
51.5xn/aNT$1.1b
3659 Bison Electronics
9xn/aNT$959.5m
5381 Uniplus Electronics
74.9xn/aNT$1.1b
3426 Tai Shing Electronics Components
14.6xn/aNT$1.0b

Price-To-Earnings vs Peers: 3426 is good value based on its Price-To-Earnings Ratio (14.6x) compared to the peer average (37.9x).


Price to Earnings Ratio vs Industry

How does 3426's PE Ratio compare vs other companies in the TW Electronic Industry?

Price-To-Earnings vs Industry: 3426 is expensive based on its Price-To-Earnings Ratio (14.6x) compared to the TW Electronic industry average (12.7x)


Price to Earnings Ratio vs Fair Ratio

What is 3426'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.

3426 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 3426's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of 3426 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3426 (NT$38.1) is trading above our estimate of fair value (NT$25.28)

Significantly Below Fair Value: 3426 is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 3426's PEG Ratio to determine if it is good value.


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Future Growth

How is Tai Shing Electronics Components forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


9.7%

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 Tai Shing Electronics Components 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.


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Past Performance

How has Tai Shing Electronics Components performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-16.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 3426 has a high level of non-cash earnings.

Growing Profit Margin: 3426's current net profit margins (9.4%) are higher than last year (8.9%).


Past Earnings Growth Analysis

Earnings Trend: 3426's earnings have declined by 16% per year over the past 5 years.

Accelerating Growth: 3426's earnings growth over the past year (26.1%) exceeds its 5-year average (-16% per year).

Earnings vs Industry: 3426 earnings growth over the past year (26.1%) underperformed the Electronic industry 35.9%.


Return on Equity

High ROE: 3426's Return on Equity (9.8%) is considered low.


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Financial Health

How is Tai Shing Electronics Components's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 3426's short term assets (NT$885.0M) exceed its short term liabilities (NT$232.6M).

Long Term Liabilities: 3426's short term assets (NT$885.0M) exceed its long term liabilities (NT$134.3M).


Debt to Equity History and Analysis

Debt Level: 3426 has more cash than its total debt.

Reducing Debt: 3426's debt to equity ratio has increased from 0.2% to 10% over the past 5 years.

Debt Coverage: 3426's debt is well covered by operating cash flow (111.4%).

Interest Coverage: 3426 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Tai Shing Electronics Components's current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


5.25%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 3426's dividend (5.25%) is higher than the bottom 25% of dividend payers in the TW market (2.54%).

High Dividend: 3426's dividend (5.25%) is low compared to the top 25% of dividend payers in the TW market (6.35%).


Stability and Growth of Payments

Stable Dividend: 3426 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 3426's dividend payments have increased, but the company has only paid a dividend for 6 years.


Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (76.7%), 3426's payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (117.8%), 3426's dividend payments are not well covered by cash flows.


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Management

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

5.3yrs

Average management tenure


CEO

William Yang

4.83yrs

Tenure

Mr. Wen-Lung Yang, also known as William, has been General Manager of Tai Shing Electronics Components Corporation since August 8, 2017 and serves as its Director since May 29, 2014. Mr. Yang serves as Gen...


Leadership Team

Experienced Management: 3426's management team is seasoned and experienced (5.3 years average tenure).


Board Members

Experienced Board: 3426's board of directors are considered experienced (7.3 years average tenure).


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

Tai Shing Electronics Components Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Tai Shing Electronics Components Corporation
  • Ticker: 3426
  • Exchange: TPEX
  • Founded: 1984
  • Industry: Electronic Components
  • Sector: Tech
  • Implied Market Cap: NT$1.006b
  • Shares outstanding: 26.40m
  • Website: https://www.tai-shing.com.tw

Location

  • Tai Shing Electronics Components Corporation
  • Building A
  • 6th Floor
  • Taoyuan City
  • 324
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/27 00:00
End of Day Share Price2022/06/27 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.