Executive Summary
Elite Material Co., Ltd. produces and sells laminate materials in Taiwan, China, rest of Asia, the United States, and Europe. More Details
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet with solid track record.
Similar Companies
Share Price & News
How has Elite Material's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 2383 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: 2383's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
0.3%
2383
1.4%
TW Electronic
1.9%
TW Market
1 Year Return
44.4%
2383
63.6%
TW Electronic
66.4%
TW Market
Return vs Industry: 2383 underperformed the TW Electronic industry which returned 63.6% over the past year.
Return vs Market: 2383 underperformed the TW Market which returned 66.4% over the past year.
Shareholder returns
| 2383 | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.3% | 1.4% | 1.9% |
| 30 Day | -0.3% | 5.8% | 4.8% |
| 90 Day | 5.0% | 12.3% | 9.9% |
| 1 Year | 49.5%44.4% | 69.5%63.6% | 72.2%66.4% |
| 3 Year | 109.6%86.7% | 56.7%37.8% | 71.1%51.6% |
| 5 Year | 248.0%184.5% | 114.7%75.7% | 132.3%91.0% |
Long-Term Price Volatility Vs. Market
How volatile is Elite Material's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 days ago | Simply Wall St
Here's Why We Think Elite Material (TPE:2383) Is Well Worth Watching2 weeks ago | Simply Wall St
Is Elite Material Co., Ltd. (TPE:2383) A Smart Pick For Income Investors?4 weeks ago | Simply Wall St
Elite Material Co., Ltd.'s (TPE:2383) Stock Has Shown A Decent Performance: Have Financials A Role To Play?Valuation
Is Elite Material undervalued compared to its fair value and its price relative to the market?
37.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 2383 (NT$169) is trading below our estimate of fair value (NT$270.86)
Significantly Below Fair Value: 2383 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 2383 is good value based on its PE Ratio (14.9x) compared to the TW Electronic industry average (20.2x).
PE vs Market: 2383 is good value based on its PE Ratio (14.9x) compared to the TW market (20.7x).
Price to Earnings Growth Ratio
PEG Ratio: 2383 is poor value based on its PEG Ratio (1.1x)
Price to Book Ratio
PB vs Industry: 2383 is overvalued based on its PB Ratio (3.4x) compared to the TW Electronic industry average (1.9x).
Future Growth
How is Elite Material forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
14.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 2383's forecast earnings growth (14% per year) is above the savings rate (0.8%).
Earnings vs Market: 2383's earnings (14% per year) are forecast to grow slower than the TW market (16.1% per year).
High Growth Earnings: 2383's earnings are forecast to grow, but not significantly.
Revenue vs Market: 2383's revenue (11.7% per year) is forecast to grow faster than the TW market (10.2% per year).
High Growth Revenue: 2383's revenue (11.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 2383's Return on Equity is forecast to be high in 3 years time (24.1%)
Past Performance
How has Elite Material performed over the past 5 years?
6.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 2383 has high quality earnings.
Growing Profit Margin: 2383's current net profit margins (13.6%) are higher than last year (13%).
Past Earnings Growth Analysis
Earnings Trend: 2383's earnings have grown by 6.4% per year over the past 5 years.
Accelerating Growth: 2383's earnings growth over the past year (13.7%) exceeds its 5-year average (6.4% per year).
Earnings vs Industry: 2383 earnings growth over the past year (13.7%) underperformed the Electronic industry 19.6%.
Return on Equity
High ROE: 2383's Return on Equity (22%) is considered high.
Financial Health
How is Elite Material's financial position?
Financial Position Analysis
Short Term Liabilities: 2383's short term assets (NT$19.6B) exceed its short term liabilities (NT$9.6B).
Long Term Liabilities: 2383's short term assets (NT$19.6B) exceed its long term liabilities (NT$1.5B).
Debt to Equity History and Analysis
Debt Level: 2383's debt to equity ratio (10.3%) is considered satisfactory.
Reducing Debt: 2383's debt to equity ratio has reduced from 15.9% to 10.3% over the past 5 years.
Debt Coverage: 2383's debt is well covered by operating cash flow (203.8%).
Interest Coverage: 2383 earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Dividend
What is Elite Material current dividend yield, its reliability and sustainability?
4.14%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 2383's dividend (4.14%) is higher than the bottom 25% of dividend payers in the TW market (1.99%).
High Dividend: 2383's dividend (4.14%) is low compared to the top 25% of dividend payers in the TW market (4.8%).
Stability and Growth of Payments
Stable Dividend: 2383 has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: 2383's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (61.8%), 2383's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 2383's dividends in 3 years are forecast to be covered by earnings (60.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.8yrs
Average management tenure
CEO
Ding-Yu Dong
4.83yrs
Tenure
Mr. Ding-Yu Dong has been Chairman of Elite Material Co., Ltd. since June 25, 2016 and has been its President since June 27, 2016 and also served as its General Manager. Mr. Dong served as Vice Chairman at...
Leadership Team
Experienced Management: 2383's management team is considered experienced (4.8 years average tenure).
Board Members
Experienced Board: 2383's board of directors are considered experienced (4.8 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 been diluted in the past year, with total shares outstanding growing by 4.1%.
Top Shareholders
Company Information
Elite Material Co., Ltd.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Elite Material Co., Ltd.
- Ticker: 2383
- Exchange: TSEC
- Founded: 1992
- Industry: Electronic Components
- Sector: Tech
- Market Cap: NT$56.263b
- Shares outstanding: 332.92m
- Website: https://www.emctw.com
Location
- Elite Material Co., Ltd.
- No.18, Datong 1st Road
- Guanyin District
- Taoyuan City
- 32849
- Taiwan
Listings
Biography
Elite Material Co., Ltd. produces and sells laminate materials in Taiwan, China, rest of Asia, the United States, and Europe. The company offers copper clad laminates and prepregs for the construction of p...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/04/11 08:33 |
| End of Day Share Price | 2021/04/09 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.