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Chian Hsing Forging Industrial

GTSM:4528
Snowflake Description

Adequate balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4528
GTSM
NT$2B
Market Cap
  1. Home
  2. TW
  3. Automobiles
Company description

Chian Hsing Forging Industrial Co., Ltd. manufactures and sells various forged products in Taiwan. The last earnings update was 8 days ago. More info.


Add to Portfolio Compare Print
  • Chian Hsing Forging Industrial has significant price volatility in the past 3 months.
4528 Share Price and Events
7 Day Returns
1.4%
GTSM:4528
0.1%
TW Auto Components
-0.5%
TW Market
1 Year Returns
-42.7%
GTSM:4528
-27.5%
TW Auto Components
-10.7%
TW Market
4528 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chian Hsing Forging Industrial (4528) 1.4% -24.9% -34.7% -42.7% -41.4% -44.3%
TW Auto Components 0.1% -22.3% -29.7% -27.5% -47.9% -47.2%
TW Market -0.5% -14.8% -20.2% -10.7% -4.3% -0.2%
1 Year Return vs Industry and Market
  • 4528 underperformed the Auto Components industry which returned -27.5% over the past year.
  • 4528 underperformed the Market in Taiwan, Province of China which returned -10.7% over the past year.
Price Volatility
4528
Industry
5yr Volatility vs Market

Value

 Is Chian Hsing Forging Industrial 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 Chian Hsing Forging Industrial 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

Below are the data sources, inputs and calculation used to determine the intrinsic value for Chian Hsing Forging Industrial.

GTSM:4528 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in TWD NT$ 2.100000
Payout Ratio Company Filings (2019-12-31) 5710.1%
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year TW Government Bond Rate 0.7%

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 GTSM:4528
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year TW Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.09
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.088 (1 + (1- 20%) (56.61%))
1.582
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.58
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (1.582 * 6.21%)
10.54%

Discounted Cash Flow Calculation for GTSM:4528 using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Chian Hsing Forging Industrial is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

GTSM:4528 Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= NT$2.1 / (10.54% - 0.71%)
NT$21.37
GTSM:4528 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$21.37
Current discount Discount to share price of NT$32.05
= -1 x (NT$32.05 - NT$21.37) / NT$21.37
-50%

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

  • The current share price of Chian Hsing Forging Industrial is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Chian Hsing Forging Industrial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chian Hsing Forging Industrial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:4528 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$3.06
GTSM:4528 Share Price ** GTSM (2020-04-01) in TWD NT$32.05
Taiwan, Province of China Auto Components Industry PE Ratio Median Figure of 47 Publicly-Listed Auto Components Companies 12.77x
Taiwan, Province of China Market PE Ratio Median Figure of 1,472 Publicly-Listed Companies 13.98x

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

** Primary Listing of Chian Hsing Forging Industrial.

GTSM:4528 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:4528 Share Price ÷ EPS (both in TWD)

= 32.05 ÷ 3.06

10.47x

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

  • Chian Hsing Forging Industrial is good value based on earnings compared to the TW Auto Components industry average.
  • Chian Hsing Forging Industrial is good value based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Chian Hsing Forging Industrial's expected growth come at a high price?
Raw Data
GTSM:4528 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
Not available
Taiwan, Province of China Auto Components Industry PEG Ratio Median Figure of 8 Publicly-Listed Auto Components Companies 0.79x
Taiwan, Province of China Market PEG Ratio Median Figure of 183 Publicly-Listed Companies 1.08x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Chian Hsing Forging Industrial, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Chian Hsing Forging Industrial's assets?
Raw Data
GTSM:4528 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$25.93
GTSM:4528 Share Price * GTSM (2020-04-01) in TWD NT$32.05
Taiwan, Province of China Auto Components Industry PB Ratio Median Figure of 55 Publicly-Listed Auto Components Companies 1x
Taiwan, Province of China Market PB Ratio Median Figure of 1,961 Publicly-Listed Companies 1.17x
GTSM:4528 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:4528 Share Price ÷ Book Value per Share (both in TWD)

= 32.05 ÷ 25.93

1.24x

* Primary Listing of Chian Hsing Forging Industrial.

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

  • Chian Hsing Forging Industrial is overvalued based on assets compared to the TW Auto Components industry average.
X
Value checks
We assess Chian Hsing Forging Industrial'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 Auto Components 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 Auto Components industry average (and greater than 0)? (1 check)
  5. Chian Hsing Forging Industrial has a total score of 2/6, 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.

Future Performance

 How is Chian Hsing Forging Industrial expected to perform in the next 1 to 3 years based on estimates from 4 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
21.8%
Expected Auto Components industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chian Hsing Forging Industrial expected to grow at an attractive rate?
  • Unable to compare Chian Hsing Forging Industrial's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Chian Hsing Forging Industrial's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare Chian Hsing Forging Industrial's revenue growth to the Taiwan, Province of China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
GTSM:4528 Future Growth Rates Data Sources
Data Point Source Value (per year)
Taiwan, Province of China Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 21.8%
Taiwan, Province of China Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 5.7%
Taiwan, Province of China Market Earnings Growth Rate Market Cap Weighted Average 11%
Taiwan, Province of China Market Revenue Growth Rate Market Cap Weighted Average 7%

*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
GTSM:4528 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
GTSM:4528 Future Estimates Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 3,016 528 4
2020-04-03
GTSM:4528 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 2,836 521 234
2019-09-30 2,837 474 232
2019-06-30 2,808 470 250
2019-03-31 2,804 483 248
2018-12-31 2,813 579 278
2018-09-30 2,900 511 307
2018-06-30 2,922 514 332
2018-03-31 2,858 585 373
2017-12-31 2,738 493 368
2017-09-30 2,600 485 361
2017-06-30 2,397 380 312
2017-03-31 2,303 350 268

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Chian Hsing Forging Industrial is high growth as no earnings estimate data is available.
  • Unable to determine if Chian Hsing Forging Industrial is high growth as no revenue estimate data is available.
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
GTSM:4528 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Chian Hsing Forging Industrial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:4528 Future Estimates Data
Date (Data in TWD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2020-04-03
GTSM:4528 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 3.06
2019-09-30 3.04
2019-06-30 3.27
2019-03-31 3.24
2018-12-31 3.63
2018-09-30 4.01
2018-06-30 4.33
2018-03-31 4.88
2017-12-31 4.81
2017-09-30 4.71
2017-06-30 4.08
2017-03-31 3.50

*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.
  • Unable to establish if Chian Hsing Forging Industrial will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Chian Hsing Forging Industrial'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 Taiwan, Province of China market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Taiwan, Province of China 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.
Chian Hsing Forging Industrial has a total score of 0/6, 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.

Past Performance

  How has Chian Hsing Forging Industrial 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 Chian Hsing Forging Industrial's growth in the last year to its industry (Auto Components).
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.
  • Chian Hsing Forging Industrial's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Chian Hsing Forging Industrial's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Chian Hsing Forging Industrial's 1-year earnings growth is negative, it can't be compared to the TW Auto Components industry average.
Earnings and Revenue History
Chian Hsing Forging Industrial'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 Chian Hsing Forging Industrial Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:4528 Past Revenue, Cash Flow and Net Income Data
Date (Data in TWD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,835.83 234.34 228.35 156.04
2019-09-30 2,836.83 232.30 233.52 130.25
2019-06-30 2,808.18 250.40 233.33 95.58
2019-03-31 2,803.74 247.88 229.83 60.93
2018-12-31 2,812.88 277.86 232.84 47.70
2018-09-30 2,899.99 306.85 232.42 51.02
2018-06-30 2,922.07 331.53 233.60 53.34
2018-03-31 2,858.08 373.49 230.23 52.46
2017-12-31 2,738.13 368.40 224.78 53.15
2017-09-30 2,599.78 360.54 215.79 52.60
2017-06-30 2,396.91 311.98 209.56 51.90
2017-03-31 2,302.57 268.00 195.75 59.21
2016-12-31 2,241.38 235.35 197.11 61.18
2016-09-30 2,179.62 221.13 191.78 56.75
2016-06-30 2,182.23 228.50 187.93 53.95
2016-03-31 2,205.41 241.01 189.56 45.50
2015-12-31 2,229.60 272.25 182.10 40.94
2015-09-30 2,182.14 287.57 178.49 39.52
2015-06-30 2,087.57 290.52 177.59 36.51
2015-03-31 1,968.46 262.76 175.35 44.29
2014-12-31 1,814.13 221.73 165.19 51.89
2014-09-30 1,727.87 187.89 155.24 56.67
2014-06-30 1,667.76 163.95 140.63 61.53
2014-03-31 1,574.40 168.16 129.77 56.10
2013-12-31 1,518.57 167.74 119.56 52.53
2013-09-30 1,358.33 142.08 110.47 50.28
2013-06-30 1,283.79 128.84 107.04 46.67

*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.
  • Chian Hsing Forging Industrial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chian Hsing Forging Industrial used its assets more efficiently than the TW Auto Components industry average last year based on Return on Assets.
  • Chian Hsing Forging Industrial's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Chian Hsing Forging Industrial'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 Auto Components 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.
Chian Hsing Forging Industrial has a total score of 2/6, 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.

Health

 How is Chian Hsing Forging Industrial'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 Chian Hsing Forging Industrial's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chian Hsing Forging Industrial is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Chian Hsing Forging Industrial's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Chian Hsing Forging Industrial'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 1.2x 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 Chian Hsing Forging Industrial Company Filings, last reported 3 months ago.

GTSM:4528 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,990.83 1,356.53 826.06
2019-09-30 1,938.11 1,412.77 737.44
2019-06-30 1,933.48 1,227.09 724.03
2019-03-31 2,059.95 1,234.94 802.59
2018-12-31 1,964.97 1,241.12 779.76
2018-09-30 1,893.50 1,288.71 677.86
2018-06-30 1,866.70 1,196.70 667.16
2018-03-31 1,994.09 1,168.16 719.63
2017-12-31 1,886.49 1,221.59 695.99
2017-09-30 1,794.54 1,179.31 633.88
2017-06-30 1,671.26 1,087.73 613.25
2017-03-31 1,682.88 1,073.67 565.18
2016-12-31 1,661.10 1,074.17 551.98
2016-09-30 1,597.15 1,052.51 466.44
2016-06-30 1,579.10 914.29 560.07
2016-03-31 1,711.60 891.82 541.35
2015-12-31 1,684.23 971.08 537.41
2015-09-30 1,647.13 1,131.74 614.85
2015-06-30 1,542.62 897.60 445.72
2015-03-31 1,604.65 898.85 473.76
2014-12-31 1,535.04 890.69 484.32
2014-09-30 1,431.33 820.22 459.07
2014-06-30 1,340.53 871.42 567.43
2014-03-31 1,370.85 615.76 490.03
2013-12-31 1,337.67 425.15 413.84
2013-09-30 1,284.59 392.91 402.19
2013-06-30 1,251.04 299.25 422.66
  • Chian Hsing Forging Industrial's level of debt (67.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (58% vs 67.6% today).
  • Debt is well covered by operating cash flow (38.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.7x coverage).
X
Financial health checks
We assess Chian Hsing Forging Industrial'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. Chian Hsing Forging Industrial has a total score of 4/6, 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.

Dividends

 What is Chian Hsing Forging Industrial'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
6.55%
Current annual income from Chian Hsing Forging Industrial dividends.
If you bought NT$2,000 of Chian Hsing Forging Industrial shares you are expected to receive NT$131 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?
  • Chian Hsing Forging Industrial's pays a higher dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.25%).
  • Chian Hsing Forging Industrial's dividend is below the markets top 25% of dividend payers in Taiwan, Province of China (7.04%).
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
GTSM:4528 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 4 Analyst Estimates (S&P Global) See Below
Taiwan, Province of China Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 41 Stocks 4.6%
Taiwan, Province of China Market Average Dividend Yield Market Cap Weighted Average of 1330 Stocks 4.6%
Taiwan, Province of China Minimum Threshold Dividend Yield 10th Percentile 1.8%
Taiwan, Province of China Bottom 25% Dividend Yield 25th Percentile 3.2%
Taiwan, Province of China Top 25% Dividend Yield 75th Percentile 7%

Industry and Market average data is calculated daily.

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

GTSM:4528 Future Dividends Estimate Data
Date (Data in NT$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2020-04-03
GTSM:4528 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2019-03-27 2.100 4.389
2019-03-26 2.100 3.989
2018-03-29 2.200 3.919
2017-03-30 1.700 2.429
2016-03-24 2.000 4.302
2015-03-20 1.500 2.406
2014-05-12 0.667 1.845
2013-03-26 0.458 1.817
2012-11-05 0.872 5.184
2012-08-28 0.872 4.837
2012-03-26 0.872 4.796
2011-10-27 0.593 3.832
2011-08-19 0.593 4.185
2011-03-31 0.593 3.563
2010-08-20 0.249 1.464
2010-03-24 0.249 1.618
2009-10-28 0.154 1.240
2009-08-24 0.154 1.618

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Chian Hsing Forging Industrial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Chian Hsing Forging Industrial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.8%) - 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 Chian Hsing Forging Industrial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chian Hsing Forging Industrial has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Chian Hsing Forging Industrial'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
Chiang Mu-Shan
CEO Bio

Chiang Mu-Shan serves as the President of Chian Hsing Forging Industrial Co.

CEO Compensation
  • Insufficient data for Chiang to compare compensation growth.
  • Insufficient data for Chiang to establish whether their remuneration is reasonable compared to companies of similar size in Taiwan, Province of China.
Management Team

Chiang Mu-Shan

TITLE
President
Board of Directors
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NT$) Value (NT$)
X
Management checks
We assess Chian Hsing Forging Industrial'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. Chian Hsing Forging Industrial 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.

News

Simply Wall St News

Company Info

Description

Chian Hsing Forging Industrial Co., Ltd. manufactures and sells various forged products in Taiwan. Its forged products include hardware, bicycle, motorbike, automobile, and track vehicle parts, as well as industrial engineering vehicle components and other products. The company offers auto parts comprising C.V. joints and driving elements of front wheel; inner races; inner race crosses; bearing cups, pistons, and housings; transmission parts; transmission bearing spang products; transmission joint gears; mandrils, rear axis, and core axis of the generator; air conditioning belt pulleys; bevel gears; magnetic poles and driving gears; motor brake parts; aluminum alloy forging parts that include ammonia cans for auto air-conditioners; flange bases; and pipes, excavator teethes, and tubes. It also provides assorted hardware parts, including impactors, saddles, pneumatic toolings, tone hole parts, and rod couplings, as well as parts of sports goods, which include cranks, high-pressure joints, high-tension bolts/nuts, alloy bearing forgings, and delivering tube forgings. In addition, the company offers motorcycle parts, such as gear shafts, gear blanks, start gears, transmission shafts, and ammonia cans for auto air-conditioners; starting gear and clutch gear forged work products; shaft and axle parts; and clutches, tube yokes, and chain gears. Further, it provides rail parts, which comprise tie plates. The company was formerly known as Hsieh Hsing Iron Factory and changed its name to Chian Hsing Forging Industrial Co., Ltd. in 1980. Chian Hsing Forging Industrial Co., Ltd. was founded in 1971 and is based in Taichung, Taiwan.

Details
Name: Chian Hsing Forging Industrial Co., Ltd.
4528
Exchange: GTSM
Founded: 1971
NT$2,452,282,289
76,514,268
Website: http://www.ch-forging.com.tw
Address: Chian Hsing Forging Industrial Co., Ltd.
No.3-1, Siehe S. Lane,
Situn District,
Taichung,
407,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 4528 Common Stock Taipei Exchange TW TWD 12. Feb 2001
Number of employees
Current staff
Staff numbers
0
Chian Hsing Forging Industrial employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 15:45
End of day share price update: 2020/04/01 00:00
Last estimates confirmation: 2020/03/26
Last earnings filing: 2020/03/26
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.