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Jason

GTSM:4570
Snowflake Description

Adequate balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4570
GTSM
NT$2B
Market Cap
  1. Home
  2. TW
  3. Automobiles
Company description

Jason Co.,Ltd manufactures and sells steering and suspension products in Taiwan. The last earnings update was 209 days ago. More info.


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4570 Share Price and Events
7 Day Returns
0%
GTSM:4570
-0.9%
TW Auto Components
0.4%
TW Market
1 Year Returns
-
GTSM:4570
-8.1%
TW Auto Components
9.5%
TW Market
4570 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Jason (4570) 0% 0% 0% - - -
TW Auto Components -0.9% -3.1% -8.2% -8.1% -34.6% -31.9%
TW Market 0.4% -2.2% -2.9% 9.5% 15.4% 17.2%
1 Year Return vs Industry and Market
  • No trading data on 4570.
  • No trading data on 4570.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Jason 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
  • It is not possible to calculate the future cash flow value for Jason. This is due to cash flow or dividend data being unavailable. The share price is NT$37.99.
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 Jason's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Jason's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:4570 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in TWD NT$2.41
GTSM:4570 Share Price ** GTSM (2019-12-11) in TWD NT$37.99
Taiwan, Province of China Auto Components Industry PE Ratio Median Figure of 43 Publicly-Listed Auto Components Companies 13.28x
Taiwan, Province of China Market PE Ratio Median Figure of 1,453 Publicly-Listed Companies 16.18x

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

** Primary Listing of Jason.

GTSM:4570 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:4570 Share Price ÷ EPS (both in TWD)

= 37.99 ÷ 2.41

15.78x

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

  • Jason is overvalued based on earnings compared to the TW Auto Components industry average.
  • Jason is good value based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Jason's expected growth come at a high price?
Raw Data
GTSM:4570 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.78x
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 10 Publicly-Listed Auto Components Companies 1.02x
Taiwan, Province of China Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.07x

*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 Jason, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Jason's assets?
Raw Data
GTSM:4570 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in TWD NT$29.03
GTSM:4570 Share Price * GTSM (2019-12-11) in TWD NT$37.99
Taiwan, Province of China Auto Components Industry PB Ratio Median Figure of 54 Publicly-Listed Auto Components Companies 1.32x
Taiwan, Province of China Market PB Ratio Median Figure of 1,966 Publicly-Listed Companies 1.42x
GTSM:4570 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:4570 Share Price ÷ Book Value per Share (both in TWD)

= 37.99 ÷ 29.03

1.31x

* Primary Listing of Jason.

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

  • Jason is good value based on assets compared to the TW Auto Components industry average.
X
Value checks
We assess Jason'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. Jason 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 Jason 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 Jason 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
20.5%
Expected Auto Components industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Jason expected to grow at an attractive rate?
  • Unable to compare Jason's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Jason's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare Jason's revenue growth to the Taiwan, Province of China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
GTSM:4570 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 20.5%
Taiwan, Province of China Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 6%
Taiwan, Province of China Market Earnings Growth Rate Market Cap Weighted Average 13.2%
Taiwan, Province of China Market Revenue Growth Rate Market Cap Weighted Average 7.7%

*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:4570 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (8 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:4570 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-06-30 1,610 19 144
2019-03-31 1,522 13 127
2018-12-31 1,433 7 110
2018-09-30 1,431 25 119
2018-06-30 1,429 44 128
2018-03-31 1,374 -35 136
2017-12-31 1,319 -113 145
2016-12-31 1,464 278 284

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Jason is high growth as no earnings estimate data is available.
  • Unable to determine if Jason 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:4570 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Jason Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:4570 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-06-30 2.41
2019-03-31 2.12
2018-12-31 1.83
2018-09-30 1.98
2018-06-30 2.13
2018-03-31 2.27
2017-12-31 2.41
2016-12-31 4.50

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

Next steps:

  1. Examine Jason'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. Jason'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 Jason'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.
Jason 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 Jason performed over the past 5 years?

  • Jason's last earnings update was 209 days ago.
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 Jason'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.
  • Insufficient data to establish if Jason's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Jason's 1-year earnings growth to the 5-year average due to insufficient past data.
  • Jason's earnings growth has exceeded the TW Auto Components industry average in the past year (13.1% vs -8.3%).
Earnings and Revenue History
Jason'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 Jason Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:4570 Past Revenue, Cash Flow and Net Income Data
Date (Data in TWD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 1,610.21 144.42 239.82 63.21
2019-03-31 1,521.52 127.06 224.80 63.33
2018-12-31 1,432.84 109.69 209.78 63.46
2018-09-30 1,431.09 118.68 196.20 57.14
2018-06-30 1,429.34 127.66 182.62 50.83
2018-03-31 1,374.31 136.23 189.00 41.16
2017-12-31 1,319.28 144.79 195.38 31.49
2016-12-31 1,463.52 283.52 228.00 21.51

*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.
  • Jason has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Jason used its assets less efficiently than the TW Auto Components industry average last year based on Return on Assets.
  • Unable to establish if Jason improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Jason'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.
Jason has a total score of 1/6, 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 Jason'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 Jason's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Jason is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Jason's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Jason'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 3.8x 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 Jason Company Filings, last reported 8 months ago.

GTSM:4570 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,741.93 544.24 354.53
2019-03-31 1,741.93 544.24 354.53
2018-12-31 1,716.95 625.46 400.71
2018-09-30 1,716.95 625.46 400.71
2018-06-30 1,662.90 492.15 528.82
2018-03-31 1,662.90 492.15 528.82
2017-12-31 1,647.36 241.03 701.01
2016-12-31 1,865.19 161.61 1,108.68
  • Jason's level of debt (31.2%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Jason's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (3.4%, less than 20% of total debt).
  • Jason earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Jason'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. Jason 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 Jason'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
0%
Current annual income from Jason dividends.
If you bought NT$2,000 of Jason shares you are expected to receive NT$0 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?
  • Unable to evaluate Jason's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Jason's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:4570 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 40 Stocks 3.6%
Taiwan, Province of China Market Average Dividend Yield Market Cap Weighted Average of 1333 Stocks 4.1%
Taiwan, Province of China Minimum Threshold Dividend Yield 10th Percentile 1.5%
Taiwan, Province of China Bottom 25% Dividend Yield 25th Percentile 2.7%
Taiwan, Province of China Top 25% Dividend Yield 75th Percentile 6.1%

Industry and Market average data is calculated daily.

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

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

  • Unable to perform a dividend volatility check as Jason has not reported any payouts.
  • Unable to verify if Jason's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Jason's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Jason has not reported any payouts.
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 Jason's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 Jason afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Jason has a total score of 0/6, 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 Jason'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.
  • Jason 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 Jason'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. Jason 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

Jason Co.,Ltd manufactures and sells steering and suspension products in Taiwan. The company was founded in 1991 and is based in Pingtung, Taiwan.

Details
Name: Jason Co., Ltd.
4570
Exchange: GTSM
Founded: 1991
NT$2,279,400,000
60,000,000
Website: http://www.baw-auto.com.tw
Address: Jason Co., Ltd.
No. 3-35, Zhonghe Road,
Ligang Shiang,
Pingtung,
905,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 4570 Common Shares Taipei Exchange TW TWD 06. Aug 2019
Number of employees
Current staff
Staff numbers
0
Jason employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/09 16:51
End of day share price update: 2019/12/11 00:00
Last earnings filing: 2019/08/13
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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.