Good Will Instrument Valuation

Is 2423 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 2423 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2423 (NT$43.45) is trading below our estimate of fair value (NT$60.79)

Significantly Below Fair Value: 2423 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2423?

Key metric: As 2423 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2423. This is calculated by dividing 2423's market cap by their current earnings.
What is 2423's PE Ratio?
PE Ratio	16.3x
Earnings	NT$387.20m
Market Cap	NT$6.30b

2423 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	2x
Enterprise Value/EBITDA	11.6x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 2423's PE Ratio compare to its peers?

The above table shows the PE ratio for 2423 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	28x
6577 Promate Solutions	15.6x	n/a	NT$5.5b
5309 Sysgration	53.6x	n/a	NT$7.8b
5283 Heran	15.8x	n/a	NT$7.6b
3455 Utechzone	26.9x	n/a	NT$7.7b
2423 Good Will Instrument	16.3x	n/a	NT$6.3b

Price-To-Earnings vs Peers: 2423 is good value based on its Price-To-Earnings Ratio (16.3x) compared to the peer average (28x).

Price to Earnings Ratio vs Industry

How does 2423's PE Ratio compare vs other companies in the TW Electronic Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 2423 is good value based on its Price-To-Earnings Ratio (16.3x) compared to the TW Electronic industry average (21.4x).

Price to Earnings Ratio vs Fair Ratio

What is 2423'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.

2423 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	16.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 2423's Price-To-Earnings 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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