2377 Stock Overview
Micro-Star International Co., Ltd. manufactures and sells motherboards, interface cards, notebook computers, and other electronic products in Asia, Europe, the Americas, and internationally.
Micro-Star International Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||NT$107.50|
|52 Week High||NT$173.00|
|52 Week Low||NT$98.30|
|1 Month Change||-4.87%|
|3 Month Change||2.38%|
|1 Year Change||-15.35%|
|3 Year Change||20.38%|
|5 Year Change||66.15%|
|Change since IPO||146.97%|
Recent News & Updates
|2377||TW Tech||TW Market|
Return vs Industry: 2377 underperformed the TW Tech industry which returned -6.2% over the past year.
Return vs Market: 2377 exceeded the TW Market which returned -18% over the past year.
|2377 Average Weekly Movement||5.8%|
|Tech Industry Average Movement||5.2%|
|Market Average Movement||5.1%|
|10% most volatile stocks in TW Market||8.3%|
|10% least volatile stocks in TW Market||2.4%|
Stable Share Price: 2377 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: 2377's weekly volatility (6%) has been stable over the past year.
About the Company
Micro-Star International Co., Ltd. manufactures and sells motherboards, interface cards, notebook computers, and other electronic products in Asia, Europe, the Americas, and internationally. The company operates through Computer and Peripherals, and Other segments. Its products portfolio includes laptops, desktops, monitors, graphic cards, gaming gears, PC cases and components, liquid cooling, and power supply products, as well as gaming laptop backpacks, apparel, and others.
Micro-Star International Fundamentals Summary
|2377 fundamental statistics|
Is 2377 overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|2377 income statement (TTM)|
|Cost of Revenue||NT$171.47b|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
|Earnings per share (EPS)||19.13|
|Net Profit Margin||7.75%|
How did 2377 perform over the long term?See historical performance and comparison
9.8%Current Dividend Yield
Is 2377 undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 6/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for 2377?
Other financial metrics that can be useful for relative valuation.
|What is 2377's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does 2377's PE Ratio compare to its peers?
|2377 PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
2324 Compal Electronics
2376 Giga-Byte Technology
2377 Micro-Star International
Price-To-Earnings vs Peers: 2377 is good value based on its Price-To-Earnings Ratio (5.6x) compared to the peer average (8.4x).
Price to Earnings Ratio vs Industry
How does 2377's PE Ratio compare vs other companies in the TW Tech Industry?
Price-To-Earnings vs Industry: 2377 is good value based on its Price-To-Earnings Ratio (5.6x) compared to the TW Tech industry average (12x)
Price to Earnings Ratio vs Fair Ratio
What is 2377'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.
|Current PE Ratio||5.6x|
|Fair PE Ratio||10.8x|
Price-To-Earnings vs Fair Ratio: 2377 is good value based on its Price-To-Earnings Ratio (5.6x) compared to the estimated Fair Price-To-Earnings Ratio (10.8x).
Share Price vs Fair Value
What is the Fair Price of 2377 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: 2377 (NT$107.5) is trading below our estimate of fair value (NT$274.84)
Significantly Below Fair Value: 2377 is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
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How is Micro-Star International forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Future Growth Score1/6
Future Growth Score 1/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 2377's earnings are forecast to decline over the next 3 years (-5.7% per year).
Earnings vs Market: 2377's earnings are forecast to decline over the next 3 years (-5.7% per year).
High Growth Earnings: 2377's earnings are forecast to decline over the next 3 years.
Revenue vs Market: 2377's revenue (4.3% per year) is forecast to grow slower than the TW market (7.7% per year).
High Growth Revenue: 2377's revenue (4.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 2377's Return on Equity is forecast to be high in 3 years time (23.1%)
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How has Micro-Star International performed over the past 5 years?
Past Performance Score3/6
Past Performance Score 3/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 2377 has a high level of non-cash earnings.
Growing Profit Margin: 2377's current net profit margins (7.7%) are higher than last year (7.4%).
Past Earnings Growth Analysis
Earnings Trend: 2377's earnings have grown significantly by 28.7% per year over the past 5 years.
Accelerating Growth: 2377's earnings growth over the past year (22.6%) is below its 5-year average (28.7% per year).
Earnings vs Industry: 2377 earnings growth over the past year (22.6%) underperformed the Tech industry 30.1%.
Return on Equity
High ROE: 2377's Return on Equity (34.9%) is considered high.
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How is Micro-Star International's financial position?
Financial Health Score4/6
Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: 2377's short term assets (NT$86.1B) exceed its short term liabilities (NT$47.2B).
Long Term Liabilities: 2377's short term assets (NT$86.1B) exceed its long term liabilities (NT$871.8M).
Debt to Equity History and Analysis
Debt Level: 2377 has more cash than its total debt.
Reducing Debt: 2377's debt to equity ratio has increased from 0.07% to 7.8% over the past 5 years.
Debt Coverage: 2377's debt is not well covered by operating cash flow (12.3%).
Interest Coverage: 2377 earns more interest than it pays, so coverage of interest payments is not a concern.
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What is Micro-Star International current dividend yield, its reliability and sustainability?
Dividend Score 4/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
|Micro-Star International Dividend Yield vs Market|
|Company (Micro-Star International)||9.8%|
|Market Bottom 25% (TW)||2.6%|
|Market Top 25% (TW)||7.0%|
|Industry Average (Tech)||7.7%|
|Analyst forecast in 3 Years (Micro-Star International)||7.7%|
Notable Dividend: 2377's dividend (9.77%) is higher than the bottom 25% of dividend payers in the TW market (2.59%).
High Dividend: 2377's dividend (9.77%) is in the top 25% of dividend payers in the TW market (7%)
Stability and Growth of Payments
Stable Dividend: 2377's dividend payments have been volatile in the past 10 years.
Growing Dividend: 2377's dividend payments have increased over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: With its reasonable payout ratio (54.9%), 2377's dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: 2377 is paying a dividend but the company has no free cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Chin-Ching Huang (64 yo)
Mr. Chin-Ching Huang serves as President of Micro-Star International Co., Ltd. since July 8, 2020 and served as Senior VP of Management Committee. He has been Vice Chairman of Micro-Star International Co.,...
Experienced Board: 2377's board of directors are considered experienced (4.3 years average tenure).
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.
|Owner Type||Number of Shares||Ownership Percentage|
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
Micro-Star International Co., Ltd.'s employee growth, exchange listings and data sources
- Name: Micro-Star International Co., Ltd.
- Ticker: 2377
- Exchange: TWSE
- Founded: 1986
- Industry: Technology Hardware, Storage and Peripherals
- Sector: Tech
- Implied Market Cap: NT$90.822b
- Shares outstanding: 844.86m
- Website: https://www.msi.com
Number of Employees
- Micro-Star International Co., Ltd.
- No. 69, Lide Street
- Zhonghe District
- New Taipei City
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|2377||TWSE (Taiwan Stock Exchange)||Yes||Common Stock||TW||TWD||Nov 1998|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/10/01 00:00|
|End of Day Share Price||2022/09/30 00:00|
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.