Elite Material Co., Ltd.

TWSE:2383 Stock Report

Market Cap: NT$154.5b

Elite Material Valuation

Is 2383 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2383 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2383 (NT$473) is trading below our estimate of fair value (NT$865.56)

Significantly Below Fair Value: 2383 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2383?

Key metric: As 2383 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2383. This is calculated by dividing 2383's market cap by their current earnings.
What is 2383's PE Ratio?
PE Ratio18.3x
EarningsNT$8.92b
Market CapNT$154.49b

Price to Earnings Ratio vs Peers

How does 2383's PE Ratio compare to its peers?

The above table shows the PE ratio for 2383 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.9x
3533 Lotes
24.9x20.2%NT$193.0b
4958 Zhen Ding Technology Holding
13.5x15.5%NT$111.7b
2368 Gold Circuit Electronics
16.8x16.8%NT$85.4b
3044 Tripod Technology
12.3x14.5%NT$95.9b
2383 Elite Material
18.3x12.7%NT$154.5b

Price-To-Earnings vs Peers: 2383 is expensive based on its Price-To-Earnings Ratio (18.3x) compared to the peer average (16.9x).

Price to Earnings Ratio vs Industry

How does 2383's PE Ratio compare vs other companies in the TW Electronic Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
2383 18.3xIndustry Avg. 22.7xNo. of Companies52PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2383 is good value based on its Price-To-Earnings Ratio (18.3x) compared to the TW Electronic industry average (22.7x).

Price to Earnings Ratio vs Fair Ratio

What is 2383'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.

2383 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.3x
Fair PE Ratio21.4x

Price-To-Earnings vs Fair Ratio: 2383 is good value based on its Price-To-Earnings Ratio (18.3x) compared to the estimated Fair Price-To-Earnings Ratio (21.4x).

Analyst Price Targets

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

The above table shows the analyst 2383 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNT$473.00
NT$536.35
+13.4%
14.5%NT$690.00NT$425.00n/a13
Nov ’25NT$427.00
NT$535.58
+25.4%
14.3%NT$680.00NT$425.00n/a13
Oct ’25NT$442.00
NT$564.96
+27.8%
11.8%NT$688.00NT$450.00n/a13
Sep ’25NT$465.00
NT$566.21
+21.8%
12.2%NT$688.00NT$450.00n/a12
Aug ’25NT$420.50
NT$559.75
+33.1%
12.5%NT$688.00NT$450.00n/a12
Jul ’25NT$466.00
NT$555.24
+19.2%
12.0%NT$688.00NT$450.00n/a12
Jun ’25NT$408.50
NT$544.91
+33.4%
11.6%NT$685.00NT$450.00n/a12
May ’25NT$412.00
NT$547.74
+32.9%
11.5%NT$675.00NT$450.00n/a12
Apr ’25NT$398.50
NT$539.82
+35.5%
9.7%NT$620.00NT$450.00n/a12
Mar ’25NT$494.00
NT$555.22
+12.4%
9.4%NT$620.00NT$470.00n/a13
Feb ’25NT$450.00
NT$515.04
+14.5%
8.1%NT$620.00NT$454.47n/a13
Jan ’25NT$382.00
NT$521.04
+36.4%
13.3%NT$721.00NT$454.47n/a11
Dec ’24NT$389.00
NT$523.04
+34.5%
12.7%NT$721.00NT$454.47n/a12
Nov ’24NT$363.00
NT$534.00
+47.1%
12.6%NT$721.00NT$470.00NT$427.0010
Oct ’24NT$428.00
NT$488.90
+14.2%
11.8%NT$610.00NT$420.00NT$442.0010
Sep ’24NT$438.50
NT$487.90
+11.3%
11.7%NT$610.00NT$420.00NT$465.0010
Aug ’24NT$403.50
NT$435.33
+7.9%
26.6%NT$610.00NT$173.00NT$420.509
Jul ’24NT$243.50
NT$223.13
-8.4%
16.5%NT$270.00NT$173.00NT$466.008
Jun ’24NT$210.00
NT$205.00
-2.4%
13.6%NT$250.00NT$173.00NT$408.509
May ’24NT$163.50
NT$199.11
+21.8%
11.3%NT$234.00NT$173.00NT$412.009
Apr ’24NT$182.00
NT$231.56
+27.2%
18.1%NT$310.00NT$195.00NT$398.509
Mar ’24NT$188.00
NT$228.40
+21.5%
17.9%NT$310.00NT$195.00NT$494.0010
Feb ’24NT$189.00
NT$212.27
+12.3%
23.8%NT$310.00NT$149.00NT$450.0011
Jan ’24NT$171.00
NT$212.27
+24.1%
23.8%NT$310.00NT$149.00NT$382.0011
Dec ’23NT$196.50
NT$216.83
+10.3%
23.4%NT$310.00NT$149.00NT$389.0012
Nov ’23NT$148.00
NT$211.58
+43.0%
26.1%NT$310.00NT$137.00NT$363.0012

Analyst Forecast: Target price is less than 20% higher than the current share price.

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