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AAC Technologies Holdings

OTCPK:AACA.F
Snowflake Description

6 star dividend payer with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AACA.F
OTCPK
HK$55B
Market Cap
  1. Home
  2. US
  3. Tech
Company description

AAC Technologies Holdings Inc., an investment holding company, provides miniaturized technology components to the consumer electronics industry worldwide. The last earnings update was 131 days ago. More info.


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AACA.F Share Price and Events
7 Day Returns
-8.6%
OTCPK:AACA.F
2.4%
US Electronic
2.4%
US Market
1 Year Returns
-70.2%
OTCPK:AACA.F
-0.7%
US Electronic
1.9%
US Market
AACA.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AAC Technologies Holdings (AACA.F) -8.6% -1.2% -10.3% -70.2% -16.3% 47.8%
US Electronic 2.4% 1.2% 19.1% -0.7% 59.1% 59.5%
US Market 2.4% 1.7% 11.9% 1.9% 38.2% 42.4%
1 Year Return vs Industry and Market
  • AACA.F underperformed the Electronic industry which returned -0.7% over the past year.
  • AACA.F underperformed the Market in United States of America which returned 1.9% over the past year.
Price Volatility
AACA.F
Industry
5yr Volatility vs Market
Related Companies

AACA.F Value

 Is AAC Technologies Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AAC Technologies Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for AAC Technologies Holdings.

OTCPK:AACA.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 30 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:AACA.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.071 (1 + (1- 25%) (12.59%))
1.116
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.116 * 6.65%)
10.15%

Discounted Cash Flow Calculation for OTCPK:AACA.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for AAC Technologies Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:AACA.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 10.15%)
2019 3,138.08 Analyst x12 2,848.96
2020 3,419.30 Analyst x10 2,818.27
2021 9,537.00 Analyst x1 7,136.40
2022 8,073.00 Analyst x1 5,484.34
2023 13,737.00 Analyst x1 8,472.35
2024 17,114.19 Est @ 24.58% 9,582.77
2025 20,199.58 Est @ 18.03% 10,268.31
2026 22,914.15 Est @ 13.44% 10,575.07
2027 25,257.38 Est @ 10.23% 10,582.54
2028 27,272.24 Est @ 7.98% 10,373.97
Present value of next 10 years cash flows CN¥78,142.98
OTCPK:AACA.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥27,272.24 × (1 + 2.73%) ÷ (10.15% – 2.73%)
CN¥377,673.83
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥377,673.83 ÷ (1 + 10.15%)10
CN¥143,661.73
OTCPK:AACA.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥78,142.98 + CN¥143,661.73
CN¥221,804.71
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥221,804.71 / 1,212.50
CN¥182.93
OTCPK:AACA.F Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2018)
1.169
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥182.93 x 1.169
HK$213.93
Non-primary Listing Adjustment Factor 1 share in OTCPK:AACA.F represents 0.13082x of SEHK:2018
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.13082x
Value per Share
(Listing Adjusted, USD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 213.93 x 0.13082
$27.99
Value per share (USD) From above. $27.99
Current discount Discount to share price of $5.99
= -1 x ($5.99 - $27.99) / $27.99
78.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price AAC Technologies Holdings is available for.
Intrinsic value
>50%
Share price is $5.99 vs Future cash flow value of $27.99
Current Discount Checks
For AAC Technologies Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • AAC Technologies Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • AAC Technologies Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AAC Technologies Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AAC Technologies Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:AACA.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in CNY CN¥3.75
SEHK:2018 Share Price ** SEHK (2019-03-13) in HKD HK$45.75
SEHK:2018 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥39.12
United States of America Electronic Industry PE Ratio Median Figure of 92 Publicly-Listed Electronic Companies 19.59x
United States of America Market PE Ratio Median Figure of 3,055 Publicly-Listed Companies 17.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AAC Technologies Holdings.

OTCPK:AACA.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2018 Share Price ÷ EPS (both in CNY)

= 39.12 ÷ 3.75

10.43x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AAC Technologies Holdings is good value based on earnings compared to the US Electronic industry average.
  • AAC Technologies Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does AAC Technologies Holdings's expected growth come at a high price?
Raw Data
OTCPK:AACA.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 30 Analysts
4.8%per year
United States of America Electronic Industry PEG Ratio Median Figure of 60 Publicly-Listed Electronic Companies 1.38x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

OTCPK:AACA.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.43x ÷ 4.8%

2.19x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AAC Technologies Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on AAC Technologies Holdings's assets?
Raw Data
OTCPK:AACA.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in CNY CN¥14.42
SEHK:2018 Share Price * SEHK (2019-03-13) in HKD HK$45.75
SEHK:2018 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥39.12
United States of America Electronic Industry PB Ratio Median Figure of 151 Publicly-Listed Electronic Companies 2.11x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
OTCPK:AACA.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2018 Share Price ÷ Book Value per Share (both in CNY)

= 39.12 ÷ 14.42

2.71x

* Primary Listing of AAC Technologies Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AAC Technologies Holdings is overvalued based on assets compared to the US Electronic industry average.
X
Value checks
We assess AAC Technologies Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
  5. AAC Technologies Holdings has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AACA.F Future Performance

 How is AAC Technologies Holdings expected to perform in the next 1 to 3 years based on estimates from 30 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AAC Technologies Holdings expected to grow at an attractive rate?
  • AAC Technologies Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • AAC Technologies Holdings's earnings growth is positive but not above the United States of America market average.
  • AAC Technologies Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:AACA.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:AACA.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 30 Analysts 4.8%
OTCPK:AACA.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 30 Analysts 4.1%
United States of America Electronic Industry Earnings Growth Rate Market Cap Weighted Average 17%
United States of America Electronic Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:AACA.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 30 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:AACA.F Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 16,308 3,698 1
2020-12-31 21,012 6,797 4,499 28
2019-12-31 19,271 6,108 3,554 30
2018-12-31 19,000 6,217 3,962 29
OTCPK:AACA.F Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-09-30 20,444 4,584
2018-06-30 20,899 6,760 4,976
2018-03-31 21,542 5,389
2017-12-31 21,119 5,287 5,325
2017-09-30 19,704 5,063
2017-06-30 18,588 5,381 4,798
2017-03-31 17,177 4,469
2016-12-31 15,507 4,812 4,026
2016-09-30 13,619 3,466
2016-06-30 12,596 3,782 3,216
2016-03-31 11,979 3,119
2015-12-31 11,739 3,760 3,107

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AAC Technologies Holdings's earnings are expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
  • AAC Technologies Holdings's revenue is expected to grow by 4.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:AACA.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 30 Analyst Estimates (S&P Global) See Below

All data from AAC Technologies Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:AACA.F Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 2.97 2.97 2.97 1.00
2020-12-31 3.63 5.57 2.10 19.00
2019-12-31 2.72 3.14 2.13 12.00
2018-12-31 3.24 3.57 2.88 21.00
OTCPK:AACA.F Past Financials Data
Date (Data in CNY Millions) EPS *
2018-09-30 3.75
2018-06-30 4.07
2018-03-31 4.40
2017-12-31 4.35
2017-09-30 4.13
2017-06-30 3.91
2017-03-31 3.64
2016-12-31 3.28
2016-09-30 2.82
2016-06-30 2.62
2016-03-31 2.54
2015-12-31 2.53

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • AAC Technologies Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess AAC Technologies Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AAC Technologies Holdings has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AACA.F Past Performance

  How has AAC Technologies Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AAC Technologies Holdings's growth in the last year to its industry (Electronic).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AAC Technologies Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • AAC Technologies Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • AAC Technologies Holdings's 1-year earnings growth is negative, it can't be compared to the US Electronic industry average.
Earnings and Revenue History
AAC Technologies Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AAC Technologies Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:AACA.F Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 20,444.05 4,583.63 975.23 1,643.89
2018-06-30 20,898.68 4,976.18 1,016.21 1,658.01
2018-03-31 21,541.82 5,388.78 1,000.40 1,688.63
2017-12-31 21,118.57 5,324.58 975.19 1,663.67
2017-09-30 19,704.42 5,063.30 873.29 1,483.06
2017-06-30 18,587.54 4,797.71 813.80 1,403.52
2017-03-31 17,177.15 4,468.51 794.38 1,275.70
2016-12-31 15,506.83 4,025.67 763.25 1,165.67
2016-09-30 13,618.51 3,465.74 805.38 1,101.11
2016-06-30 12,595.64 3,216.08 846.56 975.26
2016-03-31 11,978.90 3,119.41 809.76 903.38
2015-12-31 11,738.87 3,106.90 799.63 858.97
2015-09-30 10,989.50 2,884.47 733.41 793.31
2015-06-30 9,870.06 2,583.55 597.11 749.18
2015-03-31 9,330.00 2,436.92 585.83 709.60
2014-12-31 8,879.30 2,317.70 536.56 656.18
2014-09-30 7,962.36 2,133.67 491.67 572.87
2014-06-30 7,981.23 2,481.95 495.62 549.24
2014-03-31 8,045.34 2,530.74 493.81 533.80
2013-12-31 8,095.89 2,577.58 530.48 552.64
2013-09-30 7,910.56 2,542.55 561.70 568.62
2013-06-30 7,524.46 2,117.72 551.72 553.07
2013-03-31 6,995.08 1,982.33 514.78 512.41
2012-12-31 6,282.95 1,762.63 463.74 461.57
2012-09-30 5,418.57 1,458.21 359.04 435.67
2012-06-30 4,766.74 1,247.23 313.40 409.26
2012-03-31 4,282.03 1,078.40 301.86 391.37

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • AAC Technologies Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • AAC Technologies Holdings used its assets more efficiently than the US Electronic industry average last year based on Return on Assets.
  • AAC Technologies Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess AAC Technologies Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AAC Technologies Holdings has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AACA.F Health

 How is AAC Technologies Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up AAC Technologies Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AAC Technologies Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • AAC Technologies Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of AAC Technologies Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AAC Technologies Holdings Company Filings, last reported 5 months ago.

OTCPK:AACA.F Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 17,615.85 5,974.20 3,232.00
2018-06-30 17,615.85 5,974.20 3,232.00
2018-03-31 17,550.94 6,289.91 4,034.08
2017-12-31 17,550.94 6,289.91 4,034.08
2017-09-30
2017-06-30 14,985.29 4,768.37 3,088.12
2017-03-31 14,214.80 4,092.78 3,864.39
2016-12-31 14,214.80 4,092.78 3,864.39
2016-09-30
2016-06-30 11,731.25 2,320.59 1,329.89
2016-03-31 11,354.08 1,807.90 2,223.86
2015-12-31 11,354.08 1,807.90 2,223.86
2015-09-30
2015-06-30 9,704.78 1,449.54 1,548.82
2015-03-31 9,191.64 1,429.27 1,602.69
2014-12-31 9,191.64 1,429.27 1,602.69
2014-09-30
2014-06-30 8,113.83 945.36 1,872.17
2014-03-31 7,931.79 922.56 2,354.31
2013-12-31 7,931.79 922.56 2,354.31
2013-09-30
2013-06-30 6,671.63 911.15 1,907.36
2013-03-31 6,130.08 1,034.88 1,313.96
2012-12-31 6,130.08 1,034.88 1,313.96
2012-09-30
2012-06-30 5,298.74 1,003.30 1,211.07
2012-03-31 4,811.42 891.13 1,374.07
  • AAC Technologies Holdings's level of debt (33.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (12.5% vs 33.9% today).
  • Debt is well covered by operating cash flow (113.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 31.1x coverage).
X
Financial health checks
We assess AAC Technologies Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AAC Technologies Holdings has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AACA.F Dividends

 What is AAC Technologies Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.57%
Current annual income from AAC Technologies Holdings dividends. Estimated to be 3.38% next year.
If you bought $2,000 of AAC Technologies Holdings shares you are expected to receive $91 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • AAC Technologies Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • AAC Technologies Holdings's dividend is above the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:AACA.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 30 Analyst Estimates (S&P Global) See Below
United States of America Electronic Industry Average Dividend Yield Market Cap Weighted Average of 38 Stocks 1.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:AACA.F Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.00 1.00
2021-12-31 0.00 1.00
2020-12-31 1.44 24.00
2019-12-31 1.32 26.00
2018-12-31 1.38 26.00
OTCPK:AACA.F Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-08-22 1.788 3.727
2018-03-27 1.677 1.887
2017-08-25 1.255 1.078
2017-03-22 1.248 1.445
2016-04-18 1.000 1.673
2016-03-23 0.999 2.064
2015-08-24 0.783 1.922
2015-05-18 0.767 2.251
2014-04-11 0.851 2.324
2014-03-25 0.863 2.700
2013-04-12 0.551 1.946
2013-03-26 0.565 1.917
2012-08-24 0.320 1.389
2012-04-13 0.337 1.771
2012-03-30 0.337 1.793
2011-04-14 0.307 2.086
2011-03-30 0.319 1.822
2010-04-26 0.200 1.479
2010-03-29 0.200 1.710
2009-11-09 0.127 1.166
2009-09-11 0.127 1.601
2009-04-20 0.096 1.844
2009-03-20 0.096 2.779

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of AAC Technologies Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (8.6x coverage).
X
Income/ dividend checks
We assess AAC Technologies Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AAC Technologies Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AAC Technologies Holdings has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AACA.F Management

 What is the CEO of AAC Technologies Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Benjamin Pan
COMPENSATION CN¥4,595,000
AGE 49
CEO Bio

Mr. Zhengmin Pan, also known as Benjamin, serves as Chief Executive Officer and Executive Director of AAC Technologies Holdings Inc. Mr. Pan co-founded AAC Technologies Group in 1993. He is responsible for providing strategic direction and leadership and for developing and implementing AAC Technologies Group's strategic objectives and business plans. Specifically, he is responsible for overseeing the coordination between sales and marketing, research and development, manufacturing and other functions including quality assurance, finance and human resources. Mr. Pan has been instrumental in spearheading AAC Technologies Group's expansion outside the PRC. In addition to his experience in sales and marketing, manufacturing and management, he has also been instrumental in leading AAC Technologies Holdings Inc.'s research and development strategy and developed a number of patents used in the design and manufacturing of AAC Technologies Holdings Inc.'s polyphonic speakers, miniature receivers, transducers and ECM microphones. He is also a Senior Advisor of Yunqi Partners. In 1996, he co-founded and was appointed President and Chief Executive Officer of American Audio Component Inc. (AAC U.S.) Mr. Pan co-founded Electronics Corporation in 1998 and American Audio Components (Changzhou) Co., Ltd. in 2000. Mr. Pan graduated from Jiangsu Province Wujin Teacher School in 1987.

CEO Compensation
  • Benjamin's compensation has been consistent with company performance over the past year.
  • Benjamin's remuneration is lower than average for companies of similar size in United States of America.
Management Team

Benjamin Pan

TITLE
Co-Founder
COMPENSATION
CN¥5M
AGE
49

Richard Mok

TITLE
Executive Director
COMPENSATION
CN¥14M
AGE
54

Jack Duan

TITLE
Chief Operating Officer
AGE
45
TENURE
4.4 yrs

Catherine Ye

TITLE
Human Resources & Administrational Director
AGE
46

Eddie Kung

TITLE
Head of Investor Relations

David Plekenpol

TITLE
Chief Strategy Officer
AGE
58

Tai On Lo

TITLE
Company Secretary
AGE
64
Board of Directors Tenure

Average tenure and age of the AAC Technologies Holdings board of directors in years:

1.1
Average Tenure
60
Average Age
  • The average tenure for the AAC Technologies Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Boon Hwee Koh

TITLE
Chairman of the Board
COMPENSATION
CN¥933K
AGE
67

Benjamin Pan

TITLE
Co-Founder
COMPENSATION
CN¥5M
AGE
49

Richard Mok

TITLE
Executive Director
COMPENSATION
CN¥14M
AGE
54
TENURE
13.9 yrs

Bian Tan

TITLE
Independent Non Executive Director
COMPENSATION
CN¥377K
AGE
71
TENURE
9.5 yrs

Joseph Poon

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥599K
AGE
63
TENURE
9.4 yrs

Albert Au

TITLE
Independent Non-Executive Director
AGE
66
TENURE
1.1 yrs

Ingrid Wu

TITLE
Non-Executive Director
COMPENSATION
CN¥445K
AGE
47

Larry Kwok

TITLE
Independent Non-Executive Director
AGE
62
TENURE
1.1 yrs

Zhiyuan Peng

TITLE
Independent Non Executive Director
AGE
45
TENURE
0.2 yrs

Hongjiang Zhang

TITLE
Independent Non Executive Director
AGE
58
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Mar 19 Sell Capital Research and Management Company Company 11. Mar 19 11. Mar 19 -2,673,500 $6.01 $-16,064,794
12. Mar 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 07. Mar 19 07. Mar 19 1,798,446 $6.34 $11,408,903
12. Mar 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 07. Mar 19 07. Mar 19 -5,658 $6.34 $-35,893
12. Mar 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 07. Mar 19 07. Mar 19 5,658 $6.34 $35,893
12. Mar 19 Sell Highbridge Capital Management, LLC Company 07. Mar 19 07. Mar 19 -42,500 $6.34 $-269,610
12. Mar 19 Buy J.P. Morgan Asset Management, Inc. Company 07. Mar 19 07. Mar 19 396 $6.34 $2,512
11. Mar 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 06. Mar 19 06. Mar 19 -1,504,324 $6.51 $-9,788,757
01. Mar 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 26. Feb 19 26. Feb 19 -3,667,141 $6.64 $-24,344,723
14. Feb 19 Sell Capital Research and Management Company Company 12. Feb 19 12. Feb 19 -1,858,571 $6.40 $-11,899,926
04. Feb 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 31. Jan 19 31. Jan 19 -6,428,625 $6.16 $-39,587,633
04. Feb 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 31. Jan 19 31. Jan 19 -132,000 $6.16 $-812,859
04. Feb 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 31. Jan 19 31. Jan 19 175,532 $6.16 $1,080,930
04. Feb 19 Sell China International Fund Management Company Limited Company 31. Jan 19 31. Jan 19 -40,000 $6.16 $-246,321
04. Feb 19 Sell Highbridge Capital Management, LLC Company 31. Jan 19 31. Jan 19 -50,000 $6.16 $-307,901
04. Feb 19 Buy J.P. Morgan Asset Management, Inc. Company 31. Jan 19 31. Jan 19 20,000 $6.16 $123,161
04. Feb 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 30. Jan 19 30. Jan 19 4,903,412 $6.10 $29,921,032
04. Feb 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 30. Jan 19 30. Jan 19 -14,500 $6.10 $-88,480
04. Feb 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 30. Jan 19 30. Jan 19 14,500 $6.10 $88,480
04. Feb 19 Buy Highbridge Capital Management, LLC Company 30. Jan 19 30. Jan 19 35,000 $6.10 $213,573
04. Feb 19 Buy J.P. Morgan Asset Management, Inc. Company 30. Jan 19 30. Jan 19 21,500 $6.10 $131,195
01. Feb 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 29. Jan 19 29. Jan 19 -900 $6.15 $-5,535
01. Feb 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 29. Jan 19 29. Jan 19 626,939 $6.15 $3,855,709
01. Feb 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 29. Jan 19 29. Jan 19 -7,991,931 $6.15 $-49,150,807
01. Feb 19 Sell Highbridge Capital Management, LLC Company 29. Jan 19 29. Jan 19 -25,000 $6.15 $-153,751
01. Feb 19 Buy J.P. Morgan Asset Management, Inc. Company 29. Jan 19 29. Jan 19 18,500 $6.15 $113,776
31. Jan 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 28. Jan 19 28. Jan 19 8,519,680 $6.14 $52,272,778
23. Jan 19 Sell Capital Research and Management Company Company 18. Jan 19 18. Jan 19 -2,519,500 $6.06 $-15,265,164
21. Dec 18 Sell Capital Research and Management Company Company 19. Dec 18 19. Dec 18 -425,500 $6.01 $-2,558,730
06. Dec 18 Sell Capital Research and Management Company Company 04. Dec 18 04. Dec 18 -2,018,100 $7.33 $-14,786,395
13. Nov 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 08. Nov 18 08. Nov 18 3,159,885 $7.31 $23,083,484
31. Oct 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 26. Oct 18 26. Oct 18 -3,500,967 $7.26 $-25,413,400
26. Oct 18 Buy Capital Research and Management Company Company 24. Oct 18 24. Oct 18 3,084,000 $8.14 $25,091,331
12. Oct 18 Sell Capital Research and Management Company Company 10. Oct 18 10. Oct 18 -755,000 $9.84 $-7,427,073
09. Oct 18 Buy Capital Research and Management Company Company 08. Oct 18 08. Oct 18 697,000 $9.76 $6,801,902
07. Sep 18 Buy Capital Research and Management Company Company 05. Sep 18 05. Sep 18 1,023,500 $10.99 $11,251,841
03. Sep 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 29. Aug 18 29. Aug 18 407,732 $10.93 $4,457,139
29. Aug 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 24. Aug 18 24. Aug 18 2,760,434 $10.50 $28,998,227
27. Aug 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 22. Aug 18 22. Aug 18 4,363,925 $10.63 $46,379,825
24. Aug 18 Buy Capital Research and Management Company Company 22. Aug 18 22. Aug 18 8,595,000 $11.26 $96,737,894
17. Aug 18 Buy Capital Research and Management Company Company 15. Aug 18 15. Aug 18 2,049,637 $10.78 $22,094,419
03. Aug 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 31. Jul 18 31. Jul 18 608,657 $12.70 $7,727,029
07. Aug 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 02. Aug 18 02. Aug 18 -6,462,918 $12.09 $-78,124,942
27. Jul 18 Buy Capital Research and Management Company Company 26. Jul 18 26. Jul 18 2,592,500 $12.73 $33,014,238
13. Jun 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 08. Jun 18 08. Jun 18 320,439 $16.32 $5,231,113
07. Jul 18 Buy Capital Research and Management Company Company 05. Jul 18 05. Jul 18 3,517,000 $13.35 $46,968,719
28. Jun 18 Buy Capital Research and Management Company Company 26. Jun 18 26. Jun 18 2,442,000 $13.93 $34,007,903
X
Management checks
We assess AAC Technologies Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AAC Technologies Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AACA.F News

Simply Wall St News

AACA.F Company Info

Description

AAC Technologies Holdings Inc., an investment holding company, provides miniaturized technology components to the consumer electronics industry worldwide. The company operates through Dynamic Components, Haptics & Radio Frequency Mechanical Module, Micro Electro-Mechanical System Components, and Other Products segments. It researches, develops, manufactures, and sells acoustic products, electronic components, tooling and precision components, and electronics related accessories; and offers electroplating services. Its products include miniature speaker modules, receivers, and speakers; haptic and RF/mechanical products; optics, traditional microphones, and headsets; and LDS antenna and FPC-antennas. The company’s products are used in smartphones, tablets, wearables, and ultra-slim notebooks. The company was formerly known as AAC Acoustic Technologies Holdings Inc. and changed its name to AAC Technologies Holdings Inc. in May 2011. AAC Technologies Holdings Inc. was founded in 1993 and is based in Wan chai, Hong Kong.

Details
Name: AAC Technologies Holdings Inc.
AACA.F
Exchange: OTCPK
Founded: 1993
HK$7,066,516,899
1,212,500,000
Website: http://www.aactechnologies.com
Address: AAC Technologies Holdings Inc.
7, China Evergrande Centre,
Unit 1605,
Wan chai,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2018 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 09. Aug 2005
OTCPK AACA.F Ordinary Shares Pink Sheets LLC US USD 09. Aug 2005
DB A2XN Ordinary Shares Deutsche Boerse AG DE EUR 09. Aug 2005
SHSC 2018 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 09. Aug 2005
SZSC 2018 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 09. Aug 2005
OTCPK AACA.Y UNSPONSORED ADR Pink Sheets LLC US USD 15. Oct 2008
Number of employees
Current staff
Staff numbers
38,176
AAC Technologies Holdings employees.
Industry
Electronic Manufacturing Services
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 00:02
End of day share price update: 2019/03/13 00:00
Last estimates confirmation: 2019/03/15
Last earnings filing: 2018/11/08
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.