Executive Summary
Top Bright Holding Co., Ltd. engages in the research, development, manufacture, and sale of weighing instruments and electronic materials in China and internationally. More Details
Rewards
Risk Analysis
Snowflake Analysis
Excellent balance sheet with solid track record.
Similar Companies
Share Price & News
How has Top Bright Holding's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 8499 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: 8499's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
-7.8%
8499
-1.6%
TW Electronic
-0.2%
TW Market
1 Year Return
15.3%
8499
16.1%
TW Electronic
28.6%
TW Market
Return vs Industry: 8499 matched the TW Electronic industry which returned 16.1% over the past year.
Return vs Market: 8499 underperformed the TW Market which returned 28.6% over the past year.
Shareholder returns
| 8499 | Industry | Market | |
|---|---|---|---|
| 7 Day | -7.8% | -1.6% | -0.2% |
| 30 Day | -10.8% | 9.1% | 8.8% |
| 90 Day | -14.1% | 21.8% | 20.6% |
| 1 Year | 19.7%15.3% | 20.2%16.1% | 33.1%28.6% |
| 3 Year | 57.6%36.8% | 31.4%15.8% | 55.3%37.8% |
| 5 Year | n/a | 112.6%74.1% | 135.7%94.2% |
Long-Term Price Volatility Vs. Market
How volatile is Top Bright Holding's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
Is There An Opportunity With Top Bright Holding Co., Ltd.'s (TPE:8499) 28% Undervaluation?1 month ago | Simply Wall St
Top Bright Holding Co., Ltd.'s (TPE:8499) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?1 month ago | Simply Wall St
Does Top Bright Holding (TPE:8499) Have A Healthy Balance Sheet?Valuation
Is Top Bright Holding undervalued compared to its fair value and its price relative to the market?
35.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 8499 (NT$124.5) is trading below our estimate of fair value (NT$193.07)
Significantly Below Fair Value: 8499 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 8499 is good value based on its PE Ratio (10.2x) compared to the TW Electronic industry average (17.1x).
PE vs Market: 8499 is good value based on its PE Ratio (10.2x) compared to the TW market (18.4x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate 8499's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: 8499 is overvalued based on its PB Ratio (3x) compared to the TW Electronic industry average (1.6x).
Next Steps
Future Growth
How is Top Bright Holding forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
22.0%
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 Top Bright Holding 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
- Examine whether Top Bright Holding is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Explore growth companies in the Tech industry.
Past Performance
How has Top Bright Holding performed over the past 5 years?
14.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 8499 has a high level of non-cash earnings.
Growing Profit Margin: 8499's current net profit margins (28.6%) are higher than last year (25.6%).
Past Earnings Growth Analysis
Earnings Trend: 8499's earnings have grown by 14.4% per year over the past 5 years.
Accelerating Growth: 8499's earnings growth over the past year (28.5%) exceeds its 5-year average (14.4% per year).
Earnings vs Industry: 8499 earnings growth over the past year (28.5%) exceeded the Electronic industry 5%.
Return on Equity
High ROE: 8499's Return on Equity (28.8%) is considered high.
Next Steps
Financial Health
How is Top Bright Holding's financial position?
Financial Position Analysis
Short Term Liabilities: 8499's short term assets (NT$2.5B) exceed its short term liabilities (NT$492.2M).
Long Term Liabilities: 8499's short term assets (NT$2.5B) exceed its long term liabilities (NT$847.0M).
Debt to Equity History and Analysis
Debt Level: 8499's debt to equity ratio (29.2%) is considered satisfactory.
Reducing Debt: 8499's debt to equity ratio has increased from 1.7% to 29.2% over the past 5 years.
Debt Coverage: 8499's debt is well covered by operating cash flow (87.1%).
Interest Coverage: 8499 earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Next Steps
Dividend
What is Top Bright Holding current dividend yield, its reliability and sustainability?
4.02%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 8499's dividend (4.02%) is higher than the bottom 25% of dividend payers in the TW market (2.13%).
High Dividend: 8499's dividend (4.02%) is low compared to the top 25% of dividend payers in the TW market (5.17%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, 8499 has been paying a dividend for less than 10 years.
Growing Dividend: 8499 has only been paying a dividend for 3 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (41.1%), 8499's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.5yrs
Average board tenure
CEO
Ching Fu
no data
Tenure
Mr. Ching Hsuan Fu is a Director of Top Bright Holding Co., Ltd. since July 29, 2016 and serves as its Chairman since August 9, 2016. Mr. Fu is President and General Manager of Top Bright Holding Co., Ltd....
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | no data | no data | no data | |
| President of Materials Business Headquarters & Director | 4.5yrs | no data | no data | |
| Director | 4.5yrs | no data | no data | |
| Director | 4.5yrs | no data | no data | |
| Independent Director | 4.5yrs | no data | no data | |
| Independent Director | 4.5yrs | no data | no data |
4.5yrs
Average Tenure
Experienced Board: 8499's board of directors are considered experienced (4.5 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
Top Bright Holding Co., Ltd.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Top Bright Holding Co., Ltd.
- Ticker: 8499
- Exchange: TSEC
- Founded: NaN
- Industry: Electronic Equipment and Instruments
- Sector: Tech
- Market Cap: NT$6.411b
- Shares outstanding: 51.29m
- Website: https://topbright.taiwanscale.com
Number of Employees
Location
- Top Bright Holding Co., Ltd.
- The Grand Pavilion Commerical Centre
- 2nd Floor
- Grand Cayman
- Grand Cayman
- KY-1003
- Cayman Islands
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 8499 | TSEC (Taiwan Stock Exchange) | Yes | Ordinary Shares | TW | TWD | Nov 2017 |
Biography
Top Bright Holding Co., Ltd. engages in the research, development, manufacture, and sale of weighing instruments and electronic materials in China and internationally. The company operates through Electron...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/21 08:49 |
| End of Day Share Price | 2021/01/21 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.