Elitegroup Computer SystemsLtd (TWSE:2331) - Share price, News & Analysis

2331 fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	0/6
Past Performance	4/6
Financial Health	4/6
Dividends	0/6

2331 Stock Overview

Elitegroup Computer Systems Co.,Ltd., together with its subsidiaries, manufactures and supplies various computer products in Taiwan.

Rewards

Earnings grew by 1359.8% over the past year

Risk Analysis

Large one-off items impacting financial results

Elitegroup Computer SystemsLtd Competitors

ADLINK Technology

TWSE:6166

NT$12.5b

AAEON Technology

TWSE:6579

NT$13.1b

IEI Integration

TWSE:3022

NT$10.6b

Aten International

TWSE:6277

NT$9.3b

Price History & Performance

Summary of all time highs, changes and price drops for Elitegroup Computer SystemsLtd
Historical stock prices
Current Share Price	NT$22.45
52 Week High	NT$26.25
52 Week Low	NT$18.30
Beta	1
1 Month Change	10.05%
3 Month Change	13.67%
1 Year Change	14.25%
3 Year Change	80.32%
5 Year Change	16.93%
Change since IPO	-38.02%

Shareholder Returns

	2331	TW Tech	TW Market
7D	2.0%	0.04%	2.7%
1Y	14.2%	-0.2%	-8.2%

Return vs Industry: 2331 exceeded the TW Tech industry which returned -1% over the past year.

Return vs Market: 2331 exceeded the TW Market which returned -9.8% over the past year.

Price Volatility

Is 2331's price volatile compared to industry and market?
2331 volatility
2331 Average Weekly Movement	5.0%
Tech Industry Average Movement	5.0%
Market Average Movement	5.0%
10% most volatile stocks in TW Market	8.4%
10% least volatile stocks in TW Market	2.5%

Stable Share Price: 2331 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 2331's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1987	n/a	Chin-Lai Wang	https://www.ecs.com.tw

Elitegroup Computer Systems Co.,Ltd., together with its subsidiaries, manufactures and supplies various computer products in Taiwan. It offers motherboards, such as Intel and AMD platform motherboards, and SoC solutions; commercial and education laptop and chromebook; all in one and small form factor systems; LIVA mini-PCs; IPC motherboards and systems; and wireless access points. The company also provides IoT products, including EV chargers.

Elitegroup Computer SystemsLtd Fundamentals Summary

How do Elitegroup Computer SystemsLtd's earnings and revenue compare to its market cap?
2331 fundamental statistics
Market Cap	NT$12.51b
Earnings (TTM)	NT$470.86m
Revenue (TTM)	NT$32.88b

26.6x

P/E Ratio

0.4x

P/S Ratio

Is 2331 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
2331 income statement (TTM)
Revenue	NT$0
Cost of Revenue	NT$0
Gross Profit	NT$0
Other Expenses	NT$0
Earnings	NT$0

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.84
Gross Margin	8.46%
Net Profit Margin	1.43%
Debt/Equity Ratio	8.2%

How did 2331 perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is 2331 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2331?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 2331. This is calculated by dividing 2331's market cap by their current preferred multiple.
What is 2331's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	NT$12.51b

2331 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.2x
Enterprise Value/EBITDA	14.1x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 2331's PE Ratio compare to its peers?

2331 PE Ratio vs Peers

The above table shows the PE ratio for 2331 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	16.2x
6166 ADLINK Technology	23.3x	-33.7%	NT$12.5b
6579 AAEON Technology	16x	n/a	NT$13.1b
3022 IEI Integration	11.1x	n/a	NT$10.6b
6277 Aten International	14.6x	7.8%	NT$9.3b
2331 Elitegroup Computer SystemsLtd	26.6x	n/a	NT$12.5b

Price-To-Earnings vs Peers: 2331 is expensive based on its Price-To-Earnings Ratio (26.6x) compared to the peer average (16.2x).

Price to Earnings Ratio vs Industry

How does 2331's PE Ratio compare vs other companies in the TW Tech Industry?

Price-To-Earnings vs Industry: 2331 is expensive based on its Price-To-Earnings Ratio (26.6x) compared to the TW Tech industry average (12.5x)

Price to Earnings Ratio vs Fair Ratio

What is 2331's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2331 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	26.6x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 2331's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 2331 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate 2331's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate 2331's fair value for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Elitegroup Computer SystemsLtd forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

3.8%

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 Elitegroup Computer SystemsLtd 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.

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Check out Elitegroup Computer SystemsLtd's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.

Past Performance

How has Elitegroup Computer SystemsLtd performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-25.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 2331 has a large one-off gain of NT$264.1M impacting its June 30 2022 financial results.

Growing Profit Margin: 2331's current net profit margins (1.4%) are higher than last year (0.1%).

Past Earnings Growth Analysis

Earnings Trend: 2331 has become profitable over the past 5 years, growing earnings by -25.6% per year.

Accelerating Growth: 2331's earnings growth over the past year (1359.8%) exceeds its 5-year average (-25.6% per year).

Earnings vs Industry: 2331 earnings growth over the past year (1359.8%) exceeded the Tech industry 23.8%.

Return on Equity

High ROE: 2331's Return on Equity (4.6%) is considered low.

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Financial Health

How is Elitegroup Computer SystemsLtd's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 2331's short term assets (NT$17.6B) exceed its short term liabilities (NT$12.1B).

Long Term Liabilities: 2331's short term assets (NT$17.6B) exceed its long term liabilities (NT$606.1M).

Debt to Equity History and Analysis

Debt Level: 2331 has more cash than its total debt.

Reducing Debt: 2331's debt to equity ratio has reduced from 13.8% to 8.2% over the past 5 years.

Debt Coverage: 2331's debt is not well covered by operating cash flow (9.9%).

Interest Coverage: Insufficient data to determine if 2331's interest payments on its debt are well covered by EBIT.

Balance Sheet

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Dividend

What is Elitegroup Computer SystemsLtd current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate 2331's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 2331'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 2331's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 2331's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: 2331 is not paying a notable dividend for the TW market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 2331 has not reported any payouts.

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Management

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

1.0yrs

Average management tenure

CEO

Chin-Lai Wang

no data

Tenure

Mr. Chin-Lai Wang serves as Vice Chairman at Elitegroup Computer Systems Co.,Ltd and serves as its Director since June 24, 2006. Mr. Wang serves as President at Elitegroup Computer Systems Co.,Ltd. since N...

Leadership Team

Experienced Management: 2331's management team is not considered experienced ( 1 years average tenure), which suggests a new team.

Board Members

Experienced Board: 2331's board of directors are not considered experienced ( 1.1 years average tenure), which suggests a new board.

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.

Data	Last Updated (UTC time)
Company Analysis	2022/08/15 00:00
End of Day Share Price	2022/08/15 00:00
Earnings	2022/06/30
Annual Earnings	2021/12/31