Advantest
Market Cap
US$9.4b
Last Updated
2020/09/28 23:35 UTC
Data Sources
Company Financials +
Executive Summary
Advantest Corporation manufactures and sells semiconductor and component test system products and mechatronics-related products. More Details
Snowflake Analysis
Flawless balance sheet with acceptable track record.
Similar Companies
Share Price & News
How has Advantest's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: ATEY.Y's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-0.4%
ATEY.Y
3.5%
US Semiconductor
1.3%
US Market
1 Year Return
7.0%
ATEY.Y
44.9%
US Semiconductor
15.8%
US Market
Return vs Industry: ATEY.Y underperformed the US Semiconductor industry which returned 41.5% over the past year.
Return vs Market: ATEY.Y underperformed the US Market which returned 13.8% over the past year.
Shareholder returns
| ATEY.Y | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.4% | 3.5% | 1.3% |
| 30 Day | 1.8% | -0.7% | -4.1% |
| 90 Day | -16.2% | 12.9% | 8.4% |
| 1 Year | 7.0%7.0% | 47.7%44.9% | 18.4%15.8% |
| 3 Year | 148.1%146.5% | 84.0%74.4% | 38.2%29.0% |
| 5 Year | 529.7%525.6% | 241.0%207.5% | 84.9%64.0% |
Price Volatility Vs. Market
How volatile is Advantest's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Advantest undervalued compared to its fair value and its price relative to the market?
19.22x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: ATEY.Y ($47.55) is trading above our estimate of fair value ($33.17)
Significantly Below Fair Value: ATEY.Y is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: ATEY.Y is good value based on its PE Ratio (19.2x) compared to the US Semiconductor industry average (34.2x).
PE vs Market: ATEY.Y is poor value based on its PE Ratio (19.2x) compared to the US market (17.6x).
Price to Earnings Growth Ratio
PEG Ratio: ATEY.Y is poor value based on its PEG Ratio (1.5x)
Price to Book Ratio
PB vs Industry: ATEY.Y is overvalued based on its PB Ratio (4.3x) compared to the US Semiconductor industry average (3.1x).
Next Steps
Future Growth
How is Advantest forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?
12.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ATEY.Y's forecast earnings growth (12.7% per year) is above the savings rate (2.2%).
Earnings vs Market: ATEY.Y's earnings (12.7% per year) are forecast to grow slower than the US market (22.9% per year).
High Growth Earnings: ATEY.Y's earnings are forecast to grow, but not significantly.
Revenue vs Market: ATEY.Y's revenue (7.1% per year) is forecast to grow slower than the US market (9.9% per year).
High Growth Revenue: ATEY.Y's revenue (7.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ATEY.Y's Return on Equity is forecast to be low in 3 years time (19.8%).
Next Steps
Past Performance
How has Advantest performed over the past 5 years?
38.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ATEY.Y has high quality earnings.
Growing Profit Margin: ATEY.Y's current net profit margins (18.8%) are lower than last year (19.9%).
Past Earnings Growth Analysis
Earnings Trend: ATEY.Y's earnings have grown significantly by 38.9% per year over the past 5 years.
Accelerating Growth: ATEY.Y's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ATEY.Y had negative earnings growth (-5.7%) over the past year, making it difficult to compare to the Semiconductor industry average (7.5%).
Return on Equity
High ROE: ATEY.Y's Return on Equity (22.2%) is considered high.
Next Steps
Financial Health
How is Advantest's financial position?
Financial Position Analysis
Short Term Liabilities: ATEY.Y's short term assets (¥240.8B) exceed its short term liabilities (¥68.3B).
Long Term Liabilities: ATEY.Y's short term assets (¥240.8B) exceed its long term liabilities (¥56.5B).
Debt to Equity History and Analysis
Debt Level: ATEY.Y is debt free.
Reducing Debt: ATEY.Y has no debt compared to 5 years ago when its debt to equity ratio was 31.1%.
Debt Coverage: ATEY.Y has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: ATEY.Y has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
Next Steps
Dividend
What is Advantest current dividend yield, its reliability and sustainability?
1.63%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ATEY.Y's dividend (1.63%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.72%).
High Dividend: ATEY.Y's dividend (1.63%) is low compared to the top 25% of dividend payers in the US market (4.94%).
Stability and Growth of Payments
Stable Dividend: ATEY.Y's dividend payments have been volatile in the past 10 years.
Growing Dividend: ATEY.Y's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (31.3%), ATEY.Y's dividend payments are well 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?
3.5yrs
Average management tenure
CEO
Yoshiaki Yoshida (62 yo)
3.67yrs
Tenure
JP¥132,000,000
Compensation
Mr. Yoshiaki Yoshida has been the Chief Executive Officer and President at Advantest Corporation since January 26, 2017 and also has been its Representative Director since April 2013. Mr. Yoshida served as ...
CEO Compensation Analysis
Compensation vs Market: Yoshiaki's total compensation ($USD1.25M) is below average for companies of similar size in the US market ($USD7.43M).
Compensation vs Earnings: Insufficient data to compare Yoshiaki's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Representative Director | 3.67yrs | JP¥132.00m | 0.024% ¥ 2.3m | |
| CFO, EVP of Corporate Administration Group | 1.25yrs | no data | 0.0011% ¥ 105.5k | |
| Executive VP of Sales Group & Managing Executive Officer | 1.67yrs | no data | no data | |
| Global HR Executive VP & Managing Executive Officer | no data | no data | no data | |
| Executive VP of Production Group | 3.25yrs | no data | 0.0025% ¥ 233.5k | |
| Senior VP of Sales Group & Executive Officer | 9.25yrs | no data | no data | |
| Executive VP of New Concept Product Initiative & Managing Executive Officer | 1.67yrs | no data | no data | |
| Managing Executive Officer | 8.25yrs | no data | no data | |
| Executive VP of Quality Assurance Group & Managing Executive Officer | 6.25yrs | no data | no data | |
| Managing Executive Officer | 0.25yr | no data | 0.00091% ¥ 85.7k | |
| Managing Executive Officer & Director | 0.25yr | no data | no data | |
| Executive Officer & Senior VP of Sales Group | 3.25yrs | no data | no data |
3.5yrs
Average Tenure
59yo
Average Age
Experienced Management: ATEY.Y's management team is considered experienced (3.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Representative Director | 3.67yrs | JP¥132.00m | 0.024% ¥ 2.3m | |
| CFO, EVP of Corporate Administration Group | 1.25yrs | no data | 0.0011% ¥ 105.5k | |
| Executive VP of Production Group | 3.25yrs | no data | 0.0025% ¥ 233.5k | |
| Managing Executive Officer | 0.25yr | no data | 0.00091% ¥ 85.7k | |
| Managing Executive Officer & Director | 0.25yr | no data | no data | |
| Senior Executive Advisor | 7.25yrs | no data | no data | |
| Director | 5.25yrs | no data | 0.0058% ¥ 544.2k | |
| Independent Outside Director | 8.25yrs | no data | 0.0015% ¥ 143.1k | |
| Independent Outside Director | 1.25yrs | no data | 0.000050% ¥ 4.7k | |
| Independent Outside Director | 1.25yrs | no data | 0.0010% ¥ 95.1k | |
| Independent Outside Director | 1.25yrs | no data | 0.000050% ¥ 4.7k | |
| Director | 0.25yr | no data | no data |
1.3yrs
Average Tenure
61.5yo
Average Age
Experienced Board: ATEY.Y's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.
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
Advantest Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Advantest Corporation
- Ticker: ATEY.Y
- Exchange: OTCPK
- Founded: 1954
- Industry: Semiconductor Equipment
- Sector: Semiconductors
- Market Cap: JP¥994.300b
- Listing Market Cap: JP¥9.416b
- Shares outstanding: 197.28m
- Website: https://www.advantest.com
Number of Employees
Location
- Advantest Corporation
- Shin Marunouchi Center Building
- 1-6-2, Marunouchi
- Tokyo
- 100-0005
- Japan
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 6857 | TSE (The Tokyo Stock Exchange) | Yes | Ordinary Shares | JP | JPY | Jan 1992 |
| ADTT.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1992 |
| VAN | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1992 |
| ATEY.Y | OTCPK (Pink Sheets LLC) | SPON ADR NEW | US | USD | Sep 2001 | |
| VANA | DB (Deutsche Boerse AG) | SPON ADR NEW | DE | EUR | Sep 2001 |
Biography
Advantest Corporation manufactures and sells semiconductor and component test system products and mechatronics-related products. It operates through three segments: Semiconductor and Component Test System; ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/09/28 23:35 |
| End of Day Share Price | 2020/09/28 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2020/03/31 |
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.