TSEC:2365

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

KYE Systems Corp. provides computer and mobile device peripherals.


Snowflake Analysis

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

How has KYE Systems's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 2365's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.1%

2365

2.9%

TW Tech

4.7%

TW Market


1 Year Return

6.9%

2365

17.6%

TW Tech

10.4%

TW Market

Return vs Industry: 2365 underperformed the TW Tech industry which returned 17.6% over the past year.

Return vs Market: 2365 underperformed the TW Market which returned 10.4% over the past year.


Shareholder returns

2365IndustryMarket
7 Day0.1%2.9%4.7%
30 Day9.8%7.1%7.0%
90 Day19.5%6.4%1.9%
1 Year9.6%6.9%24.1%17.6%15.4%10.4%
3 Year4.3%-1.1%7.0%-7.7%26.2%11.5%
5 Year5.0%-5.8%23.8%-2.8%50.5%23.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is KYE Systems undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 2365 (NT$8.89) is trading below our estimate of fair value (NT$21.64)

Significantly Below Fair Value: 2365 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2365 is good value based on its PE Ratio (12.9x) compared to the Tech industry average (14.9x).

PE vs Market: 2365 is good value based on its PE Ratio (12.9x) compared to the TW market (17.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 2365's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 2365 is good value based on its PB Ratio (0.7x) compared to the TW Tech industry average (1.3x).


Next Steps

Future Growth

How is KYE Systems forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.2%

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 KYE 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 KYE Systems performed over the past 5 years?

11.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2365 has a large one-off gain of NT$114.9M impacting its March 31 2020 financial results.

Growing Profit Margin: 2365's current net profit margins (10.1%) are higher than last year (1.8%).


Past Earnings Growth Analysis

Earnings Trend: 2365's earnings have grown by 11.8% per year over the past 5 years.

Accelerating Growth: 2365's earnings growth over the past year (354.6%) exceeds its 5-year average (11.8% per year).

Earnings vs Industry: 2365 earnings growth over the past year (354.6%) exceeded the Tech industry -0.9%.


Return on Equity

High ROE: 2365's Return on Equity (5.3%) is considered low.


Next Steps

Financial Health

How is KYE Systems's financial position?


Financial Position Analysis

Short Term Liabilities: 2365's short term assets (NT$1.9B) exceed its short term liabilities (NT$259.3M).

Long Term Liabilities: 2365's short term assets (NT$1.9B) exceed its long term liabilities (NT$351.8M).


Debt to Equity History and Analysis

Debt Level: 2365's debt to equity ratio (7.7%) is considered satisfactory.

Reducing Debt: 2365's debt to equity ratio has reduced from 18% to 7.7% over the past 5 years.

Debt Coverage: 2365's debt is well covered by operating cash flow (128.8%).

Interest Coverage: 2365 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is KYE Systems's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 2365's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 2365's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 2365's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 2365's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 2365 is not paying a notable dividend for the TW market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 2365's dividend in 3 years as they are not forecast to pay a notable one for the TW market.


Next Steps

Management

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


CEO

Shi Kun Zhuo

no data

Tenure

Shi Kun Zhuo serves as Chairman, President and Chief Executive Officer of KYE Systems Corp. and served as its Vice Chairman. 


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

KYE Systems Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: KYE Systems Corp.
  • Ticker: 2365
  • Exchange: TSEC
  • Founded: 1983
  • Industry: Technology Hardware, Storage and Peripherals
  • Sector: Tech
  • Market Cap: NT$2.085b
  • Shares outstanding: 234.54m
  • Website: https://tw.geniusnet.com

Location

  • KYE Systems Corp.
  • No. 492, Chongxin Road
  • Section 5
  • New Taipei City
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
2365TSEC (Taiwan Stock Exchange)YesCommon StockTWTWDNov 1997

Biography

KYE Systems Corp. provides computer and mobile device peripherals. It offers mouse, keyboards, stylus, headphones, speakers, digital cameras, headsets, and e-sports peripherals. The company was founded in 1983 and is based in New Taipei City, Taiwan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/06 15:14
End of Day Share Price2020/06/05 00:00
Earnings2020/03/31
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.