Hitron Technologies Valuation

Q: What is the Fair Price of 2419 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

2419 (NT$32.05) is trading above our estimate of [[fair value]] (NT$0.57)

Is 2419 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-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2419 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2419 (NT$32.05) is trading above our estimate of fair value (NT$0.57)

Significantly Below Fair Value: 2419 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2419?

Key metric: As 2419 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 2419. This is calculated by dividing 2419's market cap by their current revenue.
What is 2419's PS Ratio?
PS Ratio	1.2x
Sales	NT$8.72b
Market Cap	NT$10.30b

2419 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	1.2x
Enterprise Value/EBITDA	22.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 2419's PS Ratio compare to its peers?

The above table shows the PS ratio for 2419 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	2.5x
3163 Browave	4.5x	16.5%	NT$10.3b
3062 CyberTAN Technology	3.3x	n/a	NT$11.3b
2332 D-Link	0.9x	16.6%	NT$12.8b
3047 EDIMAX Technology	1.2x	n/a	NT$7.6b
2419 Hitron Technologies	1.2x	n/a	NT$10.3b

Price-To-Sales vs Peers: 2419 is good value based on its Price-To-Sales Ratio (1.2x) compared to the peer average (2.5x).

Price to Sales Ratio vs Industry

How does 2419's PS Ratio compare vs other companies in the TW Communications Industry?

1 Company	Price / Sales	Estimated Growth	Market Cap
2321 Tecom	0.3x	n/a	US$6.80m

No more companies available in this PS range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 2419 is good value based on its Price-To-Sales Ratio (1.2x) compared to the TW Communications industry average (2.3x).

Price to Sales Ratio vs Fair Ratio

What is 2419's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2419 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.2x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 2419's Price-To-Sales Fair Ratio 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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