OTCPK:APEL.F

Stock Analysis Report

Executive Summary

Alps Alpine Co., Ltd. manufactures and sells electronic components in Japan, the United States, China, Germany, and internationally.


Snowflake Analysis

Flawless balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

How has Alps Alpine's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

APEL.F

-1.9%

US Electronic

-1.0%

US Market


1 Year Return

n/a

APEL.F

6.1%

US Electronic

18.0%

US Market

Return vs Industry: Insufficient data to determine how APEL.F performed against the US Electronic industry.

Return vs Market: Insufficient data to determine how APEL.F performed against the US Market.


Shareholder returns

APEL.FIndustryMarket
7 Day0%-1.9%-1.0%
30 Day0%-6.0%0.6%
90 Day0%1.1%7.9%
1 Yearn/a7.2%6.1%20.4%18.0%
3 Year-27.7%-27.7%34.4%30.8%48.0%38.5%
5 Yearn/a67.4%59.3%72.2%53.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Alps Alpine undervalued compared to its fair value and its price relative to the market?

15.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: APEL.F ($17.65) is trading below our estimate of fair value ($20.94)

Significantly Below Fair Value: APEL.F is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: APEL.F is poor value based on its PE Ratio (24.3x) compared to the Electronic industry average (21.2x).

PE vs Market: APEL.F is poor value based on its PE Ratio (24.3x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: APEL.F is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: APEL.F is good value based on its PB Ratio (1.2x) compared to the US Electronic industry average (2.1x).


Next Steps

Future Growth

How is Alps Alpine forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

19.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: APEL.F's forecast earnings growth (19.5% per year) is above the savings rate (2.7%).

Earnings vs Market: APEL.F's earnings (19.5% per year) are forecast to grow faster than the US market (14.3% per year).

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

Revenue vs Market: APEL.F's revenue (1% per year) is forecast to grow slower than the US market (7.5% per year).

High Growth Revenue: APEL.F's revenue (1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: APEL.F's Return on Equity is forecast to be low in 3 years time (9.2%).


Next Steps

Past Performance

How has Alps Alpine performed over the past 5 years?

1.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: APEL.F has high quality earnings.

Growing Profit Margin: APEL.F's current net profit margins (2%) are lower than last year (5.2%).


Past Earnings Growth Analysis

Earnings Trend: APEL.F's earnings have grown by 1.9% per year over the past 5 years.

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

Earnings vs Industry: APEL.F had negative earnings growth (-61.8%) over the past year, making it difficult to compare to the Electronic industry average (53.6%).


Return on Equity

High ROE: APEL.F's Return on Equity (6.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Alps Alpine's financial position?


Financial Position Analysis

Short Term Liabilities: APEL.F's short term assets (¥396.8B) exceed its short term liabilities (¥223.3B).

Long Term Liabilities: APEL.F's short term assets (¥396.8B) exceed its long term liabilities (¥74.3B).


Debt to Equity History and Analysis

Debt Level: APEL.F's debt to equity ratio (32.5%) is considered satisfactory.

Reducing Debt: APEL.F's debt to equity ratio has reduced from 58.2% to 32.5% over the past 5 years.

Debt Coverage: APEL.F's debt is well covered by operating cash flow (60.1%).

Interest Coverage: APEL.F's interest payments on its debt are well covered by EBIT (340x coverage).


Balance Sheet

Inventory Level: APEL.F has a high level of physical assets or inventory.

Debt Coverage by Assets: APEL.F's debt is covered by short term assets (assets are 3.3x debt).


Next Steps

Dividend

What is Alps Alpine's current dividend yield, its reliability and sustainability?

1.95%

Current Dividend Yield


Dividend Yield vs Market

company1.9%marketbottom25%1.4%markettop25%3.7%industryaverage1.6%forecastin3Years2.6%

Current dividend yield vs market & industry

Notable Dividend: APEL.F's dividend (1.95%) is higher than the bottom 25% of dividend payers in the US market (1.4%).

High Dividend: APEL.F's dividend (1.95%) is low compared to the top 25% of dividend payers in the US market (3.66%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (59.3%), APEL.F'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?

0.8yrs

Average management tenure


CEO

Toshihiro Kuriyama (62yo)

0

Mr. Toshihiro Kuriyama has been the President and Chairman of the Board at ALPS Electric Co. Ltd. since June 2012 and is its CEO and served as its Managing Director since June 2011. Mr. Kuriyama joined Alp ...


Leadership Team

NamePositionTenureCompensationOwnership
Toshihiro Kuriyama
President0yrsno data0.0078% ¥305.8k
Toshinori Kobayashi
VP of Corporate Planning0.8yrsno datano data
Yasuo Sasao
Senior VP0yrsno data0.0054% ¥210.4k
Yoichiro Kega
VP-Corporate Planing0.8yrsno data0.0019% ¥76.2k
Takashi Kimoto
EVP, Chief Sales Officer & Director11.3yrsno data0.011% ¥420.4k
Nobuhiko Komeya
Senior EVP0yrsno data0.0039% ¥152.9k
Yoshitada Amagishi
Senior Vice President of Production3.3yrsno data0.0024% ¥95.4k
Koichi Endo
Senior VP0.8yrsno data0.0019% ¥76.2k
Yoji Kawarada
Senior Vice President0.8yrsno datano data
Shinji Inoue
Vice President of ALPINE-Sales & Marketing0yrsno datano data

0.8yrs

Average Tenure

61yo

Average Age

Experienced Management: APEL.F's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Toshihiro Kuriyama
President0yrsno data0.0078% ¥305.8k
Yasuo Sasao
Senior VP0yrsno data0.0054% ¥210.4k
Takashi Kimoto
EVP, Chief Sales Officer & Director11.3yrsno data0.011% ¥420.4k
Nobuhiko Komeya
Senior EVP0yrsno data0.0039% ¥152.9k
Koichi Endo
Senior VP0.8yrsno data0.0019% ¥76.2k
Junichi Umehara
Director13.3yrsno data0.0039% ¥152.9k
Takashi Iida
Outside Director6.3yrsno datano data
Satoshi Kinoshita
Outside Director0yrsno datano data
Kazuya Nakaya
Outside Director1.3yrsno datano data
Yoko Toyoshi
Outside Director1.3yrsno datano data

6.3yrs

Average Tenure

61.5yo

Average Age

Experienced Board: APEL.F'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 been diluted in the past year, with total shares outstanding growing by 3.9%.


Top Shareholders

Company Information

Alps Alpine Co., Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Alps Alpine Co., Ltd.
  • Ticker: APEL.F
  • Exchange: OTCPK
  • Founded: 1948
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: JP¥419.875b
  • Listing Market Cap: JP¥3.910b
  • Shares outstanding: 204.62m
  • Website: https://www.alpsalpine.com

Number of Employees


Location

  • Alps Alpine Co., Ltd.
  • 1-7, Yukigaya-otsukamachi
  • Ota-ku
  • Tokyo
  • 145-8501
  • Japan

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALEDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1992
6770TSE (The Tokyo Stock Exchange)YesCommon StockJPJPYJan 1992
APEL.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1992
APEL.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDNov 1992

Biography

Alps Alpine Co., Ltd. manufactures and sells electronic components in Japan, the United States, China, Germany, and internationally. It operates through three segments: Electronic Components, Automotive Infotainment, and Logistics. The Electronic Components segment engages in the development, manufacture, and marketing of various electronic components, including sensors, TACT switches, switches, encoders, and potentiometers primarily for the audio and electronics sectors, as well as the mobile, energy, healthcare, industry, and Internet of Things markets. The Automotive Infotainment segment develops, manufactures, and markets audio, information, and communication products, including head units, audio visual, road navigation systems, and audio speakers, as well as car navigation systems, car information display products, in-car sound systems, and in-car audio products primarily for the automotive sector. The Logistics segment offers transportation, storage, and forwarding services for electronic components and other items; and manufactures and sells packaging materials. The company also provides system development, office, and financing and leasing services. The company was formerly known as Alps Electric Co., Ltd. and changed its name to Alps Alpine Co., Ltd. in January 2019. Alps Alpine Co., Ltd. was founded in 1948 and is headquartered in Tokyo, Japan. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/10 00:26
End of Day Share Price2019/07/12 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


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.