TSEC:2313

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Compeq Manufacturing

Executive Summary

Compeq Manufacturing Co., Ltd. manufactures and sells printed-circuit boards (PCBs) in Taiwan, the United States, Asia, Europe, and internationally. More Details


Snowflake Analysis

Undervalued with solid track record.


Similar Companies

Share Price & News

How has Compeq Manufacturing's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2313 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 2313's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-1.5%

2313

-2.2%

TW Electronic

2.4%

TW Market


1 Year Return

-5.0%

2313

17.8%

TW Electronic

31.3%

TW Market

Return vs Industry: 2313 underperformed the TW Electronic industry which returned 17.8% over the past year.

Return vs Market: 2313 underperformed the TW Market which returned 31.3% over the past year.


Shareholder returns

2313IndustryMarket
7 Day-1.5%-2.2%2.4%
30 Day2.2%12.3%12.4%
90 Day-5.0%23.7%23.2%
1 Year-2.6%-5.0%22.0%17.8%35.9%31.3%
3 Year39.1%26.5%33.5%17.7%58.4%40.6%
5 Year178.8%132.4%113.9%75.2%138.4%96.6%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Compeq Manufacturing undervalued compared to its fair value and its price relative to the market?

34.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 2313 (NT$44.15) is trading below our estimate of fair value (NT$67.82)

Significantly Below Fair Value: 2313 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2313 is good value based on its PE Ratio (10.9x) compared to the TW Electronic industry average (16.9x).

PE vs Market: 2313 is good value based on its PE Ratio (10.9x) compared to the TW market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: 2313 is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: 2313 is overvalued based on its PB Ratio (1.9x) compared to the TW Electronic industry average (1.6x).


Next Steps

Future Growth

How is Compeq Manufacturing forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

15.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2313's forecast earnings growth (15.1% per year) is above the savings rate (0.8%).

Earnings vs Market: 2313's earnings (15.1% per year) are forecast to grow slower than the TW market (18.6% per year).

High Growth Earnings: 2313's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2313's revenue (9.9% per year) is forecast to grow slower than the TW market (11.2% per year).

High Growth Revenue: 2313's revenue (9.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2313's Return on Equity is forecast to be low in 3 years time (19.2%).


Next Steps

Past Performance

How has Compeq Manufacturing performed over the past 5 years?

13.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2313 has high quality earnings.

Growing Profit Margin: 2313's current net profit margins (8.1%) are higher than last year (5.3%).


Past Earnings Growth Analysis

Earnings Trend: 2313's earnings have grown by 13.3% per year over the past 5 years.

Accelerating Growth: 2313's earnings growth over the past year (70.2%) exceeds its 5-year average (13.3% per year).

Earnings vs Industry: 2313 earnings growth over the past year (70.2%) exceeded the Electronic industry 5%.


Return on Equity

High ROE: 2313's Return on Equity (17.5%) is considered low.


Next Steps

Financial Health

How is Compeq Manufacturing's financial position?


Financial Position Analysis

Short Term Liabilities: 2313's short term assets (NT$35.5B) exceed its short term liabilities (NT$19.6B).

Long Term Liabilities: 2313's short term assets (NT$35.5B) exceed its long term liabilities (NT$18.0B).


Debt to Equity History and Analysis

Debt Level: 2313's debt to equity ratio (53.4%) is considered high.

Reducing Debt: 2313's debt to equity ratio has reduced from 77.4% to 53.4% over the past 5 years.

Debt Coverage: 2313's debt is well covered by operating cash flow (48.4%).

Interest Coverage: 2313's interest payments on its debt are well covered by EBIT (32.5x coverage).


Balance Sheet


Next Steps

Dividend

What is Compeq Manufacturing current dividend yield, its reliability and sustainability?

2.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2313's dividend (2.72%) is higher than the bottom 25% of dividend payers in the TW market (2.11%).

High Dividend: 2313's dividend (2.72%) is low compared to the top 25% of dividend payers in the TW market (5.16%).


Stability and Growth of Payments

Stable Dividend: 2313 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: 2313's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (29.7%), 2313's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 2313's dividends in 3 years are forecast to be well covered by earnings (38.8% payout ratio).


Next Steps

Management

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

5.0yrs

Average management tenure


CEO

P. K. Chiang

0.83

Tenure

Mr. P. K. Chiang has been the President of Compeq Manufacturing Co., Ltd. since October 2012 and has been its Director since June 12, 2014. He serves as Chief Executive Officer at Compeq Manufacturing Co.,...


Leadership Team

NamePositionTenureCompensationOwnership
P. K. Chiang
President0.83yrno data0.046%
NT$ 23.5m
Fine Lu
Chief Financial Officerno datano datano data
Y. M. Wu
Accounting Managerno datano datano data
Robert Wang
Senior Vice President of Manufacturing15.5yrsno datano data
Andrew Chen
Executive VP & Director15.5yrsno data0.013%
NT$ 6.6m
P. Y. Wu
Executive VP & Director12.58yrsno data3.1%
NT$ 1.6b
P. H. Wu
VP & Director3.58yrsno data3.12%
NT$ 1.6b

5.0yrs

Average Tenure

Experienced Management: 2313's management team is seasoned and experienced (5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
P. K. Chiang
President0.83yrno data0.046%
NT$ 23.5m
Andrew Chen
Executive VP & Director15.5yrsno data0.013%
NT$ 6.6m
P. Y. Wu
Executive VP & Director12.58yrsno data3.1%
NT$ 1.6b
P. H. Wu
VP & Director3.58yrsno data3.12%
NT$ 1.6b
Charles C. Wu Jian
Chairman12.58yrsno data5.31%
NT$ 2.7b
K. S. Peng
Director18.67yrsno data1.29%
NT$ 654.3m
Teng Ling Liu
Independent Vice Chairman12.58yrsno data0.12%
NT$ 58.7m
Tung-Chun Huang
Independent Director6.58yrsno datano data
Tzu Kuan Chiu
Independent Director3.58yrsno datano data

12.6yrs

Average Tenure

Experienced Board: 2313's board of directors are seasoned and experienced ( 12.6 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

Compeq Manufacturing Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Compeq Manufacturing Co., Ltd.
  • Ticker: 2313
  • Exchange: TSEC
  • Founded: 1973
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: NT$50.891b
  • Shares outstanding: 1.19b
  • Website: https://www.compeq.com.tw

Location

  • Compeq Manufacturing Co., Ltd.
  • 91, Lane 814
  • Ta-Hsin Road
  • Taoyuan City
  • 33843
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2313TSEC (Taiwan Stock Exchange)YesCommon StockTWTWDJan 1992

Biography

Compeq Manufacturing Co., Ltd. manufactures and sells printed-circuit boards (PCBs) in Taiwan, the United States, Asia, Europe, and internationally. It provides regular multi-layered, high density intercon...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/22 08:36
End of Day Share Price2021/01/22 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.