TSEC:2308

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Delta Electronics

Executive Summary

Delta Electronics, Inc., together with its subsidiaries, provides power and thermal management solutions in Mainland China, the United States, Taiwan, and internationally. More Details

Rewards

Earnings are forecast to grow 17.38% per year

Risk Analysis

No risks detected for 2308 from our risk checks.


Snowflake Analysis

Flawless balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

How has Delta Electronics's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2308 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 2308's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

-3.4%

2308

2.0%

TW Electronic

0.8%

TW Market


1 Year Return

97.0%

2308

19.5%

TW Electronic

28.4%

TW Market

Return vs Industry: 2308 exceeded the TW Electronic industry which returned 19.3% over the past year.

Return vs Market: 2308 exceeded the TW Market which returned 28.1% over the past year.


Shareholder returns

2308IndustryMarket
7 Day-3.4%2.0%0.8%
30 Day21.3%11.8%8.8%
90 Day53.6%27.5%21.2%
1 Year103.0%97.0%23.8%19.5%32.9%28.4%
3 Year131.0%107.3%34.4%18.4%55.1%37.7%
5 Year166.2%124.3%121.3%81.0%139.0%97.0%

Long-Term Price Volatility Vs. Market

How volatile is Delta Electronics's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Delta Electronics undervalued compared to its fair value and its price relative to the market?

33.62x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 2308 (NT$299.5) is trading above our estimate of fair value (NT$191.14)

Significantly Below Fair Value: 2308 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 2308 is poor value based on its PE Ratio (33.6x) compared to the TW Electronic industry average (18x).

PE vs Market: 2308 is poor value based on its PE Ratio (33.6x) compared to the TW market (18.8x).


Price to Earnings Growth Ratio

PEG Ratio: 2308 is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: 2308 is overvalued based on its PB Ratio (5.5x) compared to the TW Electronic industry average (1.6x).


Next Steps

Future Growth

How is Delta Electronics forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

17.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2308's forecast earnings growth (17.4% per year) is above the savings rate (0.8%).

Earnings vs Market: 2308's earnings (17.4% per year) are forecast to grow slower than the TW market (18.3% per year).

High Growth Earnings: 2308's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2308's revenue (10% per year) is forecast to grow slower than the TW market (10.5% per year).

High Growth Revenue: 2308's revenue (10% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2308's Return on Equity is forecast to be low in 3 years time (19.7%).


Next Steps

Past Performance

How has Delta Electronics performed over the past 5 years?

4.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2308 has high quality earnings.

Growing Profit Margin: 2308's current net profit margins (8.5%) are lower than last year (9.1%).


Past Earnings Growth Analysis

Earnings Trend: 2308's earnings have grown by 4.3% per year over the past 5 years.

Accelerating Growth: 2308's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2308 had negative earnings growth (-3.8%) over the past year, making it difficult to compare to the Electronic industry average (5%).


Return on Equity

High ROE: 2308's Return on Equity (14.2%) is considered low.


Next Steps

Financial Health

How is Delta Electronics's financial position?


Financial Position Analysis

Short Term Liabilities: 2308's short term assets (NT$167.1B) exceed its short term liabilities (NT$87.1B).

Long Term Liabilities: 2308's short term assets (NT$167.1B) exceed its long term liabilities (NT$68.2B).


Debt to Equity History and Analysis

Debt Level: 2308's debt to equity ratio (27.4%) is considered satisfactory.

Reducing Debt: 2308's debt to equity ratio has reduced from 49.6% to 27.4% over the past 5 years.

Debt Coverage: 2308's debt is well covered by operating cash flow (96.1%).

Interest Coverage: 2308 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Delta Electronics's current dividend yield, its reliability and sustainability?

1.67%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2308's dividend (1.67%) isn’t notable compared to the bottom 25% of dividend payers in the TW market (2.06%).

High Dividend: 2308's dividend (1.67%) is low compared to the top 25% of dividend payers in the TW market (5.09%).


Stability and Growth of Payments

Stable Dividend: 2308's dividend payments have been volatile in the past 10 years.

Growing Dividend: 2308's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (56.1%), 2308's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 2308's dividends in 3 years are forecast to be covered by earnings (58.4% payout ratio).


Next Steps

Management

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

7.4yrs

Average management tenure


CEO

Ping Cheng (58 yo)

9yrs

Tenure

Mr. Ping Cheng serves as Chief Executive Officer of Delta India Electronics Pvt. Ltd. Mr. Cheng has been Chief Executive Officer of Delta Electronics Inc since 2012. He is the President at Delta Electronic...


Leadership Team

NamePositionTenureCompensationOwnership
Ping Cheng
CEO & Director9yrsno data2.12%
NT$ 16.5b
Simon Chang
President14.67yrsno data0.035%
NT$ 270.8m
Chong Cheng
Founder & Honorary Chairmanno datano data4.08%
NT$ 31.7b
Judy Wang
Corporate CFO & VP7.42yrsno datano data
Rodney Liu
Investor Relations Officerno datano datano data
Shalin Chen
Company Secretary1.75yrsno datano data

7.4yrs

Average Tenure

Experienced Management: 2308's management team is seasoned and experienced (7.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ping Cheng
CEO & Director9yrsno data2.12%
NT$ 16.5b
Simon Chang
President14.67yrsno data0.035%
NT$ 270.8m
Chong Cheng
Founder & Honorary Chairmanno datano data4.08%
NT$ 31.7b
Ing-Jiunn Hai
Chairman8.58yrsno data0.038%
NT$ 294.7m
An Cheng
Director2.58yrsno data1.97%
NT$ 15.3b
Tzu-shing Ko
Vice Chairman9yrsno data0.032%
NT$ 250.9m
Albert Chang
Director11.58yrsno datano data
Ji-Ren Lee
Independent Director4.58yrsno datano data
George Chao
Independent Director8.58yrsno datano data
Yung-Chin Chen
Independent Director8.58yrsno datano data
Tsong-Pyng Perng
Independent Director8.58yrsno datano data

8.6yrs

Average Tenure

62yo

Average Age

Experienced Board: 2308's board of directors are considered experienced (8.6 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

Delta Electronics, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Delta Electronics, Inc.
  • Ticker: 2308
  • Exchange: TSEC
  • Founded: 1971
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: NT$777.964b
  • Shares outstanding: 2.60b
  • Website: https://www.delta.com.tw

Location

  • Delta Electronics, Inc.
  • 186 Ruey Kuang Road
  • Neihu
  • Taipei
  • 114501
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2308TSEC (Taiwan Stock Exchange)YesCommon StockTWTWDMay 1991
DELECBDL (Bourse de Luxembourg)SPON GDR REG SLUUSDMar 2005

Biography

Delta Electronics, Inc., together with its subsidiaries, provides power and thermal management solutions in Mainland China, the United States, Taiwan, and internationally. It operates through Power Electro...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/16 08:34
End of Day Share Price2021/01/15 00:00
Earnings2020/09/30
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.