NasdaqGS:IMOS

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

ChipMOS TECHNOLOGIES INC. researches, develops, manufactures, and sells high integration and high precision integrated circuits, and related assembly and testing services. More Details


Snowflake Analysis

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

How has ChipMOS TECHNOLOGIES's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: IMOS has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.2%

IMOS

-1.5%

US Semiconductor

-1.5%

US Market


1 Year Return

-4.9%

IMOS

35.4%

US Semiconductor

12.9%

US Market

Return vs Industry: IMOS underperformed the US Semiconductor industry which returned 35.4% over the past year.

Return vs Market: IMOS underperformed the US Market which returned 12.9% over the past year.


Shareholder returns

IMOSIndustryMarket
7 Day-0.2%-1.5%-1.5%
30 Day1.5%-2.0%-1.8%
90 Day-9.7%7.7%6.6%
1 Year-0.8%-4.9%37.8%35.4%15.4%12.9%
3 Year12.2%3.2%84.8%75.2%39.6%30.2%
5 Yearn/a251.5%217.0%93.4%71.7%

Price Volatility Vs. Market

How volatile is ChipMOS TECHNOLOGIES's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is ChipMOS TECHNOLOGIES undervalued compared to its fair value and its price relative to the market?

9.32x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: IMOS ($20.04) is trading above our estimate of fair value ($14.8)

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


Price To Earnings Ratio

PE vs Industry: IMOS is good value based on its PE Ratio (9.3x) compared to the US Semiconductor industry average (34.2x).

PE vs Market: IMOS is good value based on its PE Ratio (9.3x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: IMOS is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: IMOS is good value based on its PB Ratio (1.1x) compared to the US Semiconductor industry average (3.2x).


Next Steps

Future Growth

How is ChipMOS TECHNOLOGIES forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

7.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IMOS's forecast earnings growth (7.1% per year) is above the savings rate (2.2%).

Earnings vs Market: IMOS's earnings (7.1% per year) are forecast to grow slower than the US market (23.1% per year).

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

Revenue vs Market: IMOS's revenue (4.1% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: IMOS's revenue (4.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IMOS's Return on Equity is forecast to be low in 3 years time (12.4%).


Next Steps

Past Performance

How has ChipMOS TECHNOLOGIES performed over the past 5 years?

-0.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IMOS has high quality earnings.

Growing Profit Margin: IMOS's current net profit margins (10.5%) are lower than last year (13.7%).


Past Earnings Growth Analysis

Earnings Trend: IMOS's earnings have declined by 0.2% per year over the past 5 years.

Accelerating Growth: IMOS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: IMOS had negative earnings growth (-13.2%) over the past year, making it difficult to compare to the Semiconductor industry average (7.5%).


Return on Equity

High ROE: IMOS's Return on Equity (11.7%) is considered low.


Next Steps

Financial Health

How is ChipMOS TECHNOLOGIES's financial position?


Financial Position Analysis

Short Term Liabilities: IMOS's short term assets (NT$13.2B) exceed its short term liabilities (NT$6.0B).

Long Term Liabilities: IMOS's short term assets (NT$13.2B) exceed its long term liabilities (NT$10.0B).


Debt to Equity History and Analysis

Debt Level: IMOS's debt to equity ratio (47.1%) is considered high.

Reducing Debt: IMOS's debt to equity ratio has increased from 45.5% to 47.1% over the past 5 years.

Debt Coverage: IMOS's debt is well covered by operating cash flow (68.6%).

Interest Coverage: IMOS's interest payments on its debt are well covered by EBIT (27.7x coverage).


Balance Sheet


Next Steps

Dividend

What is ChipMOS TECHNOLOGIES current dividend yield, its reliability and sustainability?

6.11%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IMOS's dividend (6.11%) is higher than the bottom 25% of dividend payers in the US market (1.66%).

High Dividend: IMOS's dividend (6.11%) is in the top 25% of dividend payers in the US market (4.7%)


Stability and Growth of Payments

Stable Dividend: IMOS has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: IMOS has only been paying a dividend for 6 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (57%), IMOS's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

2.2yrs

Average management tenure


CEO

Shih-Jye Cheng (62 yo)

no data

Tenure

Mr. Shih-Jye Cheng has been the President at Chipmos Technologies Inc. since July 17, 1998. Mr. Cheng served as the Chief Executive Officer of ChipMOS Technologies (Bermuda) Ltd. since August 2000 and serv ...


Leadership Team

NamePositionTenureCompensationOwnership
Shih-Jye Cheng
Chairmanno datano data0.86%
NT$ 6.3m
Silvia Su
Vice President of Finance & Accounting Management Center2.17yrsno data0%
NT$ 0
D. Tsai
Executive Vice President of Manufacturing Operation0.17yrno datano data
Vincent Hsu
Executive Vice President of Manufacturing Operation0.17yrno datano data
Jesse Huang
Vice President of Strategy & Investor Relations13.42yrsno datano data
Yu-Ying Chen
Vice President of Human Resource Centre8.25yrsno data0.030%
NT$ 220.9k
Leo Lin
VP and Head of Business Management Centerno datano datano data
Jing-Long Fang
Vice Presidentno datano data0.0017%
NT$ 12.4k

2.2yrs

Average Tenure

51yo

Average Age

Experienced Management: IMOS's management team is considered experienced (2.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Shih-Jye Cheng
Chairmanno datano data0.86%
NT$ 6.3m
Jing-Shan Aur
Independent Director0.83yrno data0.036%
NT$ 265.1k
Teresa Wang
Representative Director0.83yrno datano data
Chin-Shyh Ou
Independent Director13.25yrsno datano data
Tai-Haur Kuo
Independent Director7.25yrsno datano data
Yuh-Fong Tang
Independent Director7.25yrsno datano data
Kuei-Ann Wen
Independent Director5.25yrsno datano data
Bright Yeh
Representative Director0.83yrno datano data

6.3yrs

Average Tenure

62.5yo

Average Age

Experienced Board: IMOS's board of directors are considered experienced (6.3 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

ChipMOS TECHNOLOGIES INC.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ChipMOS TECHNOLOGIES INC.
  • Ticker: IMOS
  • Exchange: NasdaqGS
  • Founded: 1997
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: NT$21.417b
  • Listing Market Cap: NT$738.321m
  • Shares outstanding: 727.24m
  • Website: https://www.chipmos.com

Location

  • ChipMOS TECHNOLOGIES INC.
  • No. 1, R&D Road 1
  • Hsinchu Science Park
  • Hsinchu City
  • Taiwan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
8150TSEC (Taiwan Stock Exchange)YesCommon StockTWTWDApr 2013
CPIADB (Deutsche Boerse AG)SPON ADS EACH REP 20 ORD SHSDEEURNov 2016
IMOSNasdaqGS (Nasdaq Global Select)SPON ADS EACH REP 20 ORD SHSUSUSDNov 2016

Biography

ChipMOS TECHNOLOGIES INC. researches, develops, manufactures, and sells high integration and high precision integrated circuits, and related assembly and testing services. The company operates through Test ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/22 06:08
End of Day Share Price2020/09/21 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.