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Elite Material

Market Cap

NT$56.3b

Last Updated

2021/04/11 08:33 UTC

Data Sources

Company Financials +

Executive Summary

Elite Material Co., Ltd. produces and sells laminate materials in Taiwan, China, rest of Asia, the United States, and Europe. More Details


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

2383IndustryMarket
7 Day0.3%1.4%1.9%
30 Day-0.3%5.8%4.8%
90 Day5.0%12.3%9.9%
1 Year49.5%44.4%69.5%63.6%72.2%66.4%
3 Year109.6%86.7%56.7%37.8%71.1%51.6%
5 Year248.0%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

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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/04/11 08:33
End of Day Share Price2021/04/09 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.