Elite Material Co., Ltd.

TWSE:2383 Stock Report

Market Cap: NT$205.8b

Elite Material Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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$596) is trading below our estimate of fair value (NT$703.65)

Significantly Below Fair Value: 2383 is trading below fair value, but not by a significant amount.

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 Ratio23.1x
EarningsNT$8.92b
Market CapNT$205.75b

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 Average28.6x
3533 Lotes
27.6x20.3%NT$210.4b
3037 Unimicron Technology
27.1x62.5%NT$214.9b
8069 E Ink Holdings
46.4x39.7%NT$305.7b
2327 Yageo
13.2x10.5%NT$269.9b
2383 Elite Material
23.1x14.6%NT$205.8b

Price-To-Earnings vs Peers: 2383 is good value based on its Price-To-Earnings Ratio (23.1x) compared to the peer average (28.6x).

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 23.1xIndustry Avg. 22.9xNo. of Companies50PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2383 is expensive based on its Price-To-Earnings Ratio (23.1x) compared to the TW Electronic industry average (22.9x).

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 Ratio23.1x
Fair PE Ratio22.9x

Price-To-Earnings vs Fair Ratio: 2383 is expensive based on its Price-To-Earnings Ratio (23.1x) compared to the estimated Fair Price-To-Earnings Ratio (22.9x).

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$596.00
NT$574.12
-3.7%
14.1%NT$690.00NT$431.50n/a13
Dec ’25NT$468.50
NT$540.96
+15.5%
14.1%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$454.47NT$468.5012
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

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 05:42
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Elite Material Co., Ltd. is covered by 24 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Warren LauAletheia Analyst Network Limited
Skye ChenAletheia Analyst Network Limited
Mike YangBofA Global Research