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2308

Delta ElectronicsTWSE:2308 Stock Report

Market Cap

NT$675.4b

7D

1.6%

1Y

47.3%

Updated

25 Sep, 2021

Data

Company Financials +
2308 fundamental analysis
Snowflake Score
Valuation0/6
Future Growth3/6
Past Performance5/6
Financial Health5/6
Dividends4/6

2308 Overview

Delta Electronics, Inc., together with its subsidiaries, provides power and thermal management solutions in Mainland China, the United States, Taiwan, and internationally.

Delta Electronics Competitors

Tong Hsing Electronic Industries

TWSE:6271

NT$43.2b

Chilisin Electronics

TWSE:2456

NT$23.8b

Sea Sonic Electronics

TPEX:6203

NT$7.1b

ABC Taiwan Electronics

TPEX:3236

NT$2.2b

Price History & Performance

Summary of all time highs, changes and price drops for Delta Electronics
Historical stock prices
Current Share PriceNT$260.00
52 Week HighNT$177.00
52 Week LowNT$335.00
Beta1.06
1 Month Change-5.97%
3 Month Change-11.86%
1 Year Change47.31%
3 Year Change98.47%
5 Year Change55.69%
Change since IPO2,275.96%

Recent News & Updates

Shareholder Returns

2308TW ElectronicTW Market
7D1.6%0.2%0.01%
1Y47.3%32.9%40.8%

Return vs Industry: 2308 exceeded the TW Electronic industry which returned 32.9% over the past year.

Return vs Market: 2308 exceeded the TW Market which returned 40.8% over the past year.

Price Volatility

Is 2308's price volatile compared to industry and market?
2308 volatility
2308 Beta1.06
Industry Beta0.93
Market Beta1

Stable Share Price: 2308 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: 2308's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1971n/aPing Chenghttps://www.deltaww.com

Delta Electronics, Inc., together with its subsidiaries, provides power and thermal management solutions in Mainland China, the United States, Taiwan, and internationally. It operates through Power Electronics, Automation, and Infrastructure segments. The Power Electronics segment offers inductors, transformers, networking products, EMI filters, solenoids, and current sensing resistors for use in portable devices, cloud computing equipment, automotive, IoT, and other market segments; and switching power supplies, power modules, external adapters, industrial and medical power, and industrial battery charging products.

Delta Electronics Fundamentals Summary

How do Delta Electronics's earnings and revenue compare to its market cap?
2308 fundamental statistics
Market CapNT$675.36b
Earnings (TTM)NT$29.99b
Revenue (TTM)NT$307.49b

22.5x

P/E Ratio

2.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2308 income statement (TTM)
RevenueNT$307.49b
Cost of RevenueNT$212.97b
Gross ProfitNT$94.52b
ExpensesNT$64.53b
EarningsNT$29.99b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Oct 29, 2021

Earnings per share (EPS)11.55
Gross Margin30.74%
Net Profit Margin9.75%
Debt/Equity Ratio21.9%

How did 2308 perform over the long term?

See historical performance and comparison

Dividends

2.1%

Current Dividend Yield

48%

Payout Ratio

Valuation

Is Delta Electronics undervalued compared to its fair value and its price relative to the market?

22.52x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 2308 (NT$260) is trading above our estimate of fair value (NT$166.72)

Significantly Below Fair Value: 2308 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 2308 is poor value based on its PE Ratio (22.5x) compared to the TW Electronic industry average (16.1x).

PE vs Market: 2308 is poor value based on its PE Ratio (22.5x) compared to the TW market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: 2308 is poor value based on its PEG Ratio (2.3x)


Price to Book Ratio

PB vs Industry: 2308 is overvalued based on its PB Ratio (4.7x) compared to the TW Electronic industry average (1.6x).


Future Growth

How is Delta Electronics forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

9.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2308's forecast earnings growth (9.8% per year) is above the savings rate (0.8%).

Earnings vs Market: 2308's earnings (9.8% per year) are forecast to grow faster than the TW market (8.7% per year).

High Growth Earnings: 2308's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2308's revenue (9.2% per year) is forecast to grow slower than the TW market (9.6% per year).

High Growth Revenue: 2308's revenue (9.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2308's Return on Equity is forecast to be high in 3 years time (20%)


Past Performance

How has Delta Electronics performed over the past 5 years?

9.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2308 has high quality earnings.

Growing Profit Margin: 2308's current net profit margins (9.8%) are higher than last year (7.4%).


Past Earnings Growth Analysis

Earnings Trend: 2308's earnings have grown by 9.2% per year over the past 5 years.

Accelerating Growth: 2308's earnings growth over the past year (50.9%) exceeds its 5-year average (9.2% per year).

Earnings vs Industry: 2308 earnings growth over the past year (50.9%) exceeded the Electronic industry 31%.


Return on Equity

High ROE: 2308's Return on Equity (18.3%) is considered low.


Financial Health

How is Delta Electronics's financial position?


Financial Position Analysis

Short Term Liabilities: 2308's short term assets (NT$187.5B) exceed its short term liabilities (NT$113.9B).

Long Term Liabilities: 2308's short term assets (NT$187.5B) exceed its long term liabilities (NT$61.8B).


Debt to Equity History and Analysis

Debt Level: 2308's debt to equity ratio (21.9%) is considered satisfactory.

Reducing Debt: 2308's debt to equity ratio has increased from 18.3% to 21.9% over the past 5 years.

Debt Coverage: 2308's debt is well covered by operating cash flow (118.5%).

Interest Coverage: 2308 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Delta Electronics's current dividend yield, its reliability and sustainability?

2.11%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2308's dividend (2.12%) is higher than the bottom 25% of dividend payers in the TW market (1.92%).

High Dividend: 2308's dividend (2.12%) is low compared to the top 25% of dividend payers in the TW market (5.24%).


Stability and Growth of Payments

Stable Dividend: 2308's dividend payments have been volatile in the past 10 years.

Growing Dividend: 2308's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (47.6%), 2308's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 2308's dividends in 3 years are forecast to be covered by earnings (57.9% payout ratio).


Next Steps

Management

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

9.3yrs

Average board tenure


CEO

Ping Cheng (59 yo)

9.67yrs

Tenure

Mr. Ping Cheng serves as Chief Executive Officer of Delta India Electronics Pvt. Ltd. Mr. Cheng has been Chief Executive Officer of Delta Electronics Inc since 2012.He is Manager at Delta Electronics, Inc...


Board Members

Experienced Board: 2308's board of directors are considered experienced (9.3 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

Delta Electronics, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Delta Electronics, Inc.
  • Ticker: 2308
  • Exchange: TWSE
  • Founded: 1971
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: NT$675.361b
  • Shares outstanding: 2.60b
  • Website: https://www.deltaww.com

Location

  • Delta Electronics, Inc.
  • 186, Ruey Kuang Road
  • Neihu District
  • Taipei
  • 114501
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/25 08:32
End of Day Share Price2021/09/24 00:00
Earnings2021/06/30
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.