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4915

Primax Electronics TWSE:4915 Stock Report

Last Price

NT$59.50

Market Cap

NT$27.1b

7D

0.8%

1Y

3.7%

Updated

04 Jul, 2022

Data

Company Financials +
4915 fundamental analysis
Snowflake Score
Valuation6/6
Future Growth3/6
Past Performance3/6
Financial Health4/6
Dividends3/6

4915 Stock Overview

Primax Electronics Ltd., together with its subsidiaries, manufactures and sells computer peripherals and non-computer peripherals in Taiwan and internationally.

Primax Electronics Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Primax Electronics
Historical stock prices
Current Share PriceNT$59.50
52 Week HighNT$64.80
52 Week LowNT$47.80
Beta0.94
1 Month Change-2.94%
3 Month Change12.48%
1 Year Change3.66%
3 Year Change7.40%
5 Year Change0.85%
Change since IPO58.67%

Recent News & Updates

Shareholder Returns

4915TW ElectronicTW Market
7D0.8%-7.0%-6.3%
1Y3.7%-19.9%-18.8%

Return vs Industry: 4915 exceeded the TW Electronic industry which returned -19.9% over the past year.

Return vs Market: 4915 exceeded the TW Market which returned -18.8% over the past year.

Price Volatility

Is 4915's price volatile compared to industry and market?
4915 volatility
4915 Average Weekly Movement5.3%
Electronic Industry Average Movement5.3%
Market Average Movement5.0%
10% most volatile stocks in TW Market8.4%
10% least volatile stocks in TW Market2.4%

Stable Share Price: 4915 is not significantly more volatile than the rest of TW stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 4915's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1984n/aRaymond Lianghttps://www.primax.com.tw

Primax Electronics Ltd., together with its subsidiaries, manufactures and sells computer peripherals and non-computer peripherals in Taiwan and internationally. The company offers gaming/PC peripherals, lighting solutions, wireless charging solutions, docking stations, smart access solutions, and digital door locks/door bells; in-car connected cameras, intelligent gateways, smart sensors and trackers, advanced driver assistance systems camera modules, smartphone camera modules, home IoT cameras, surveillance cameras, multi-function printers, and content creation devices. It also provides gaming headsets, gaming TWS, smart speakers, professional loudspeakers, transducers, and smart conference products; and integrated software and hardware for intelligent manufacturing.

Primax Electronics Fundamentals Summary

How do Primax Electronics's earnings and revenue compare to its market cap?
4915 fundamental statistics
Market CapNT$27.09b
Earnings (TTM)NT$2.35b
Revenue (TTM)NT$72.38b

11.5x

P/E Ratio

0.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
4915 income statement (TTM)
RevenueNT$72.38b
Cost of RevenueNT$62.90b
Gross ProfitNT$9.48b
Other ExpensesNT$7.14b
EarningsNT$2.35b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)5.15
Gross Margin13.10%
Net Profit Margin3.24%
Debt/Equity Ratio61.7%

How did 4915 perform over the long term?

See historical performance and comparison

Dividends

5.2%

Current Dividend Yield

59%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 4915 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

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

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4915?

Other financial metrics that can be useful for relative valuation.

4915 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/Revenue0.4x
Enterprise Value/EBITDA7x
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

How does 4915's PE Ratio compare to its peers?

4915 PE Ratio vs Peers
The above table shows the PE ratio for 4915 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.3x
2439 Merry Electronics
12.6x16.6%NT$15.4b
6116 HannStar Display
5.9xn/aNT$28.4b
2354 Foxconn Technology
14.9x21.8%NT$64.6b
3701 FIC Global
28xn/aNT$8.7b
4915 Primax Electronics
11.5x14.1%NT$27.1b

Price-To-Earnings vs Peers: 4915 is good value based on its Price-To-Earnings Ratio (11.5x) compared to the peer average (15.3x).


Price to Earnings Ratio vs Industry

How does 4915's PE Ratio compare vs other companies in the TW Electronic Industry?

Price-To-Earnings vs Industry: 4915 is good value based on its Price-To-Earnings Ratio (11.5x) compared to the TW Electronic industry average (11.9x)


Price to Earnings Ratio vs Fair Ratio

What is 4915'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.

4915 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.5x
Fair PE Ratio13.5x

Price-To-Earnings vs Fair Ratio: 4915 is good value based on its Price-To-Earnings Ratio (11.5x) compared to the estimated Fair Price-To-Earnings Ratio (13.5x).


Share Price vs Fair Value

What is the Fair Price of 4915 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4915 (NT$59.5) is trading below our estimate of fair value (NT$219.06)

Significantly Below Fair Value: 4915 is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: 4915 is good value based on its PEG Ratio (0.8x)


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Future Growth

How is Primax Electronics forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


14.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 4915's forecast earnings growth (14.1% per year) is above the savings rate (0.7%).

Earnings vs Market: 4915's earnings (14.1% per year) are forecast to grow faster than the TW market (7% per year).

High Growth Earnings: 4915's earnings are forecast to grow, but not significantly.

Revenue vs Market: 4915's revenue (10.4% per year) is forecast to grow faster than the TW market (7.5% per year).

High Growth Revenue: 4915's revenue (10.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 4915's Return on Equity is forecast to be low in 3 years time (17.5%).


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Past Performance

How has Primax Electronics performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


3.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 4915 has a high level of non-cash earnings.

Growing Profit Margin: 4915's current net profit margins (3.2%) are higher than last year (3%).


Past Earnings Growth Analysis

Earnings Trend: 4915's earnings have grown by 3.1% per year over the past 5 years.

Accelerating Growth: 4915's earnings growth over the past year (9.2%) exceeds its 5-year average (3.1% per year).

Earnings vs Industry: 4915 earnings growth over the past year (9.2%) underperformed the Electronic industry 36.3%.


Return on Equity

High ROE: 4915's Return on Equity (13.8%) is considered low.


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Financial Health

How is Primax Electronics's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 4915's short term assets (NT$42.8B) exceed its short term liabilities (NT$34.3B).

Long Term Liabilities: 4915's short term assets (NT$42.8B) exceed its long term liabilities (NT$5.0B).


Debt to Equity History and Analysis

Debt Level: 4915 has more cash than its total debt.

Reducing Debt: 4915's debt to equity ratio has increased from 2.7% to 61.7% over the past 5 years.

Debt Coverage: 4915's debt is not well covered by operating cash flow (11.2%).

Interest Coverage: 4915's interest payments on its debt are well covered by EBIT (31.7x coverage).


Balance Sheet


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Dividend

What is Primax Electronics's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


5.21%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 4915's dividend (5.21%) is higher than the bottom 25% of dividend payers in the TW market (2.74%).

High Dividend: 4915's dividend (5.21%) is low compared to the top 25% of dividend payers in the TW market (6.66%).


Stability and Growth of Payments

Stable Dividend: 4915's dividend payments have been volatile in the past 10 years.

Growing Dividend: 4915's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (59.3%), 4915's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: 4915 is paying a dividend but the company has no free cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average management tenure


CEO

Raymond Liang

3.75yrs

Tenure

Mr. Li-Sheng Liang, also known as Raymond, has been the Chairman and Director of Primax Electronics Ltd. since October 23, 2009 and is its Chief Executive officer since October 1, 2018 and serves as its Ge...


Leadership Team

Experienced Management: 4915's management team is considered experienced (2.8 years average tenure).


Board Members

Experienced Board: 4915's board of directors are considered experienced (7.5 years average tenure).


Ownership

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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Primax Electronics Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Primax Electronics Ltd.
  • Ticker: 4915
  • Exchange: TWSE
  • Founded: 1984
  • Industry: Electronic Manufacturing Services
  • Sector: Tech
  • Implied Market Cap: NT$27.087b
  • Shares outstanding: 455.24m
  • Website: https://www.primax.com.tw

Location

  • Primax Electronics Ltd.
  • No. 669 Ruiguang Road
  • Neihu District
  • Taipei
  • Taiwan

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/04 00:00
End of Day Share Price2022/07/04 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.