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Man Zai Industrial

GTSM:4543
Snowflake Description

Excellent balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4543
GTSM
NT$769M
Market Cap
  1. Home
  2. TW
  3. Automobiles
Company description

Man Zai Industrial Co., Ltd. manufactures and sells air-conditioner components worldwide. The last earnings update was 4 days ago. More info.


Add to Portfolio Compare Print
  • Man Zai Industrial has significant price volatility in the past 3 months.
4543 Share Price and Events
7 Day Returns
10.7%
GTSM:4543
0.1%
TW Auto Components
-0.5%
TW Market
1 Year Returns
-35.4%
GTSM:4543
-27.5%
TW Auto Components
-10.7%
TW Market
4543 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Man Zai Industrial (4543) 10.7% -22.9% -26.4% -35.4% -37.2% -75.3%
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
  • 4543 underperformed the Auto Components industry which returned -27.5% over the past year.
  • 4543 underperformed the Market in Taiwan, Province of China which returned -10.7% over the past year.
Price Volatility
4543
Industry
5yr Volatility vs Market

4543 Value

 Is Man Zai 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 Man Zai 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 Man Zai Industrial.

GTSM:4543 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$ 1.000000
Payout Ratio Company Filings (2019-12-31) 7141.1%
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:4543
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%) (52.2%))
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:4543 using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Man Zai 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:4543 Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= NT$1 / (10.54% - 0.71%)
NT$10.18
GTSM:4543 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$10.18
Current discount Discount to share price of NT$13.50
= -1 x (NT$13.50 - NT$10.18) / NT$10.18
-32.7%

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

  • The current share price of Man Zai 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 Man Zai Industrial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Man Zai Industrial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:4543 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$0.32
GTSM:4543 Share Price ** GTSM (2020-04-01) in TWD NT$13.5
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 Man Zai Industrial.

GTSM:4543 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:4543 Share Price ÷ EPS (both in TWD)

= 13.5 ÷ 0.32

42.19x

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

  • Man Zai Industrial is overvalued based on earnings compared to the TW Auto Components industry average.
  • Man Zai Industrial is overvalued based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Man Zai Industrial's expected growth come at a high price?
Raw Data
GTSM:4543 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 42.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 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 Man Zai Industrial, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Man Zai Industrial's assets?
Raw Data
GTSM:4543 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$26.02
GTSM:4543 Share Price * GTSM (2020-04-01) in TWD NT$13.5
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:4543 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:4543 Share Price ÷ Book Value per Share (both in TWD)

= 13.5 ÷ 26.02

0.52x

* Primary Listing of Man Zai Industrial.

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

  • Man Zai Industrial is good value based on assets compared to the TW Auto Components industry average.
X
Value checks
We assess Man Zai 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. Man Zai Industrial has a total score of 1/6, 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.

4543 Future Performance

 How is Man Zai Industrial expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Man Zai Industrial has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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 Man Zai Industrial expected to grow at an attractive rate?
  • Unable to compare Man Zai Industrial's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Man Zai Industrial's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare Man Zai 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:4543 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:4543 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
GTSM:4543 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 918 34 18
2019-09-30 913 58 41
2019-06-30 980 95 67
2019-03-31 1,039 124 103
2018-12-31 1,059 146 104
2018-09-30 1,074 134 72
2018-06-30 1,031 111 48
2018-03-31 980 91 6
2017-12-31 937 71 -14
2017-09-30 963 101 32
2017-06-30 1,013 76 32
2017-03-31 1,058 92 43

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Man Zai Industrial is high growth as no earnings estimate data is available.
  • Unable to determine if Man Zai 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:4543 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 0 Analyst Estimates (S&P Global) See Below

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

GTSM:4543 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 0.32
2019-09-30 0.73
2019-06-30 1.18
2019-03-31 1.81
2018-12-31 1.83
2018-09-30 1.26
2018-06-30 0.84
2018-03-31 0.11
2017-12-31 -0.25
2017-09-30 0.56
2017-06-30 0.56
2017-03-31 0.77

*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 Man Zai Industrial will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Man Zai Industrial's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Man Zai Industrial's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Automobiles companies here
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Man Zai 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.
Man Zai 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.

4543 Past Performance

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

GTSM:4543 Past Revenue, Cash Flow and Net Income Data
Date (Data in TWD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 918.28 18.33 112.94 36.23
2019-09-30 913.36 41.46 117.83 36.99
2019-06-30 979.66 67.24 125.40 39.11
2019-03-31 1,038.71 103.17 132.75 37.79
2018-12-31 1,059.00 104.23 129.46 38.43
2018-09-30 1,073.56 71.74 127.65 39.97
2018-06-30 1,030.79 47.95 125.50 39.05
2018-03-31 979.67 6.35 124.05 40.61
2017-12-31 936.75 -14.23 126.91 38.26
2017-09-30 962.60 31.77 138.24 38.71
2017-06-30 1,012.62 31.77 139.99 38.84
2017-03-31 1,057.67 43.08 141.41 40.68
2016-12-31 1,104.16 60.64 143.66 49.36
2016-09-30 1,108.30 50.16 138.30 52.47
2016-06-30 1,095.74 87.54 146.43 61.62
2016-03-31 1,142.14 75.46 146.19 64.11
2015-12-31 1,249.98 106.38 146.98 62.66
2015-09-30 1,334.15 120.57 156.92 64.26
2015-06-30 1,383.19 111.34 147.82 57.61
2015-03-31 1,448.87 159.74 151.95 53.33
2014-12-31 1,496.97 177.33 155.00 48.22
2014-09-30 1,517.14 182.81 146.87 44.60
2014-06-30 1,519.79 181.27 152.49 43.20
2014-03-31 1,429.54 152.25 145.12 44.93
2013-12-31 1,339.29 123.23 137.75 46.66
2013-09-30 1,295.81 104.21 132.94 48.85
2013-06-30 1,252.34 85.44 127.82 51.05

*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.
  • Man Zai Industrial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Man Zai Industrial used its assets less efficiently than the TW Auto Components industry average last year based on Return on Assets.
  • Man Zai Industrial's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Man Zai 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.
Man Zai Industrial has a total score of 0/6, 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.

4543 Health

 How is Man Zai 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 Man Zai Industrial's finances.

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

GTSM:4543 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,516.67 381.00 642.41
2019-09-30 1,529.68 381.00 610.73
2019-06-30 1,525.80 381.00 651.46
2019-03-31 1,569.78 381.00 691.37
2018-12-31 1,557.08 381.00 702.58
2018-09-30 1,543.93 442.05 706.62
2018-06-30 1,514.10 441.92 671.35
2018-03-31 1,482.42 369.21 607.39
2017-12-31 1,470.28 344.52 611.37
2017-09-30 1,494.33 315.24 534.08
2017-06-30 1,483.55 235.00 443.47
2017-03-31 1,488.85 235.00 458.59
2016-12-31 1,500.99 235.00 464.22
2016-09-30 1,474.62 235.00 383.65
2016-06-30 1,464.22 197.41 407.51
2016-03-31 1,512.39 162.89 389.72
2015-12-31 1,378.26 308.38 410.60
2015-09-30 1,365.00 323.86 437.74
2015-06-30 1,312.04 319.34 450.98
2015-03-31 1,312.76 350.31 440.36
2014-12-31 1,312.76 350.31 440.36
2014-09-30
2014-06-30 1,234.66 381.27 329.60
2014-03-31 1,234.66 381.27 329.60
2013-12-31 1,137.66 412.24 300.48
2013-09-30 1,133.17 412.24 300.48
2013-06-30 1,062.94 463.20 217.86
  • Man Zai Industrial's level of debt (25.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (26.7% vs 25.1% today).
  • Debt is not well covered by operating cash flow (9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.3x coverage).
X
Financial health checks
We assess Man Zai 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. Man Zai Industrial 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.

4543 Dividends

 What is Man Zai 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
7.41%
Current annual income from Man Zai Industrial dividends.
If you bought NT$2,000 of Man Zai Industrial shares you are expected to receive NT$148 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?
  • Man Zai Industrial's pays a higher dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.25%).
  • Man Zai Industrial's dividend is above 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:4543 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 0 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:4543 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2019-03-29 1.000 5.319
2018-08-13 0.300 1.464
2018-03-29 0.300 1.436
2018-03-19 0.300 1.577
2017-03-30 0.400 2.035
2016-03-08 1.200 5.096
2015-04-24 0.952 2.351

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

  • Man Zai Industrial has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Man Zai Industrial only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Man Zai Industrial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.3x 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 Man Zai 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 Man Zai Industrial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Man Zai Industrial has a total score of 2/6, see the detailed checks below.


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

4543 Management

 What is the CEO of Man Zai 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.
  • Man Zai Industrial has no CEO, or we have no data on them.
Management Team
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 Man Zai 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. Man Zai 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.

4543 News

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4543 Company Info

Description

Man Zai Industrial Co., Ltd. manufactures and sells air-conditioner components worldwide. The company offers auto air-con modules, including condenser units, evaporator units, and heater cores; automobile and motorcycle aluminum radiators for cooling systems, such as radiator units and oil coolers; and thermal-electric cooling modules comprising thermal modules for CPU, thermal syphon modules, and liquid cooling modules, as well as water-cooled modules for use in CPU, VGA, LED, and auto-electric cooling modules. It also provides aluminum extrusion products that include fittings/brackets/pipes, racket frames, OPC drums, computer heat sinks, and bicycle frames; and air-con and refrigeration products. The company serves OEM customers and customers of various levels in the maintenance market. Man Zai Industrial Co., Ltd. was founded in 1984 and is based in Tainan, Taiwan.

Details
Name: Man Zai Industrial Co., Ltd.
4543
Exchange: GTSM
Founded: 1984
NT$769,095,000
56,970,000
Website: http://www.manzai.com.tw
Address: Man Zai Industrial Co., Ltd.
No.260, Zhongshan Road,
Sec. 2,
Tainan,
718,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 4543 Common Stock Taipei Exchange TW TWD 07. Oct 2014
Number of employees
Current staff
Staff numbers
0
Man Zai Industrial employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 15:37
End of day share price update: 2020/04/01 00:00
Last earnings filing: 2020/03/30
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.