Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Macauto Industrial

GTSM:9951
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
9951
GTSM
NT$5B
Market Cap
  1. Home
  2. TW
  3. Automobiles
Company description

Macauto Industrial Co., Ltd. engages in the manufacture and sale of automotive sunshade products. The last earnings update was 11 days ago. More info.


Add to Portfolio Compare Print
  • Macauto Industrial has significant price volatility in the past 3 months.
9951 Share Price and Events
7 Day Returns
-0.3%
GTSM:9951
0.1%
TW Auto Components
-0.5%
TW Market
1 Year Returns
-32.9%
GTSM:9951
-27.5%
TW Auto Components
-10.7%
TW Market
9951 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Macauto Industrial (9951) -0.3% -18.9% -32% -32.9% -64.3% -52.6%
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
  • 9951 underperformed the Auto Components industry which returned -27.5% over the past year.
  • 9951 underperformed the Market in Taiwan, Province of China which returned -10.7% over the past year.
Price Volatility
9951
Industry
5yr Volatility vs Market

9951 Value

 Is Macauto 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 Macauto 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 Macauto Industrial.

GTSM:9951 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
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:9951
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%) (20.82%))
1.181
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (1.181 * 6.21%)
8.04%

Discounted Cash Flow Calculation for GTSM:9951 using 2 Stage Free Cash Flow to Equity Model

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

Note: Free cash flow to equity valuations ignore the company's cash or debt.

GTSM:9951 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (TWD, Millions) Source Present Value
Discounted (@ 8.04%)
2020 560.67 Analyst x3 518.94
2021 875.00 Analyst x1 749.60
2022 1,057.61 Est @ 20.87% 838.60
2023 1,214.36 Est @ 14.82% 891.22
2024 1,342.94 Est @ 10.59% 912.23
2025 1,445.33 Est @ 7.62% 908.71
2026 1,525.55 Est @ 5.55% 887.76
2027 1,588.07 Est @ 4.1% 855.36
2028 1,637.01 Est @ 3.08% 816.09
2029 1,675.81 Est @ 2.37% 773.25
Present value of next 10 years cash flows NT$8,151.00
GTSM:9951 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NT$1,675.81 × (1 + 0.71%) ÷ (8.04% – 0.71%)
NT$23,020.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NT$23,020.18 ÷ (1 + 8.04%)10
NT$10,621.98
GTSM:9951 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NT$8,151.00 + NT$10,621.98
NT$18,772.98
Equity Value per Share
(TWD)
= Total value / Shares Outstanding
= NT$18,772.98 / 74.90
NT$250.64
GTSM:9951 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$250.64
Current discount Discount to share price of NT$60.90
= -1 x (NT$60.90 - NT$250.64) / NT$250.64
75.7%

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

Current Discount
Amount off the current price Macauto Industrial is available for.
Intrinsic value
>50%
Share price is NT$60.9 vs Future cash flow value of NT$250.64
Current Discount Checks
For Macauto Industrial to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Macauto Industrial's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Macauto Industrial's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Macauto Industrial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Macauto Industrial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:9951 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$7.53
GTSM:9951 Share Price ** GTSM (2020-04-01) in TWD NT$60.9
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 Macauto Industrial.

GTSM:9951 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:9951 Share Price ÷ EPS (both in TWD)

= 60.9 ÷ 7.53

8.09x

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

  • Macauto Industrial is good value based on earnings compared to the TW Auto Components industry average.
  • Macauto Industrial is good value based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Macauto Industrial's expected growth come at a high price?
Raw Data
GTSM:9951 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
12.1%per year
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 .

GTSM:9951 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.09x ÷ 12.1%

0.67x

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

  • Macauto Industrial is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Macauto Industrial's assets?
Raw Data
GTSM:9951 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$38.39
GTSM:9951 Share Price * GTSM (2020-04-01) in TWD NT$60.9
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:9951 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:9951 Share Price ÷ Book Value per Share (both in TWD)

= 60.9 ÷ 38.39

1.59x

* Primary Listing of Macauto Industrial.

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

  • Macauto Industrial is overvalued based on assets compared to the TW Auto Components industry average.
X
Value checks
We assess Macauto 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. Macauto Industrial has a total score of 5/6, 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.

9951 Future Performance

 How is Macauto Industrial expected to perform in the next 1 to 3 years based on estimates from 7 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
12.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Macauto Industrial expected to grow at an attractive rate?
  • Macauto Industrial's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Macauto Industrial's earnings growth is expected to exceed the Taiwan, Province of China market average.
  • Macauto Industrial's revenue growth is positive but not above the Taiwan, Province of China market average.
Annual Growth Rates Comparison
Raw Data
GTSM:9951 Future Growth Rates Data Sources
Data Point Source Value (per year)
GTSM:9951 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 12.1%
GTSM:9951 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 6.8%
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:9951 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
GTSM:9951 Future Estimates Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 6,770 1,005 730 2
2020-12-31 6,130 807 600 7
2020-04-03
GTSM:9951 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 5,825 940 564
2019-09-30 6,058 922 587
2019-06-30 6,046 999 570
2019-03-31 6,149 896 533
2018-12-31 6,120 476 577
2018-09-30 5,904 665 571
2018-06-30 5,794 567 621
2018-03-31 5,652 345 693
2017-12-31 5,467 565 662
2017-09-30 5,229 526 705
2017-06-30 5,044 524 706
2017-03-31 4,766 786 715

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Macauto Industrial's earnings are expected to grow by 12.1% yearly, however this is not considered high growth (20% yearly).
  • Macauto Industrial's revenue is expected to grow by 6.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
GTSM:9951 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 7 Analyst Estimates (S&P Global) See Below

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

GTSM:9951 Future Estimates Data
Date (Data in TWD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 9.75 10.24 9.25 2.00
2020-12-31 8.01 9.18 6.79 4.00
2020-04-03
GTSM:9951 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 7.53
2019-09-30 7.84
2019-06-30 7.61
2019-03-31 7.12
2018-12-31 7.70
2018-09-30 7.62
2018-06-30 8.29
2018-03-31 9.26
2017-12-31 8.84
2017-09-30 9.41
2017-06-30 9.43
2017-03-31 9.55

*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.
  • Macauto Industrial is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Macauto 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.
Macauto Industrial has a total score of 3/6, 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.

9951 Past Performance

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

GTSM:9951 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 5,825.19 563.84 730.59 281.52
2019-09-30 6,057.78 586.99 737.70 306.54
2019-06-30 6,045.56 569.68 746.78 313.09
2019-03-31 6,148.51 533.30 758.54 327.99
2018-12-31 6,119.72 576.63 757.37 339.53
2018-09-30 5,904.06 570.84 746.68 331.09
2018-06-30 5,794.24 620.91 747.54 336.44
2018-03-31 5,652.39 693.46 745.55 323.65
2017-12-31 5,467.31 661.88 737.15 306.64
2017-09-30 5,229.24 704.66 714.96 278.00
2017-06-30 5,044.37 706.36 680.29 246.96
2017-03-31 4,765.89 715.15 651.87 228.05
2016-12-31 4,538.78 742.58 617.80 211.51
2016-09-30 4,281.63 704.94 602.02 213.71
2016-06-30 4,084.77 745.30 594.93 216.48
2016-03-31 3,958.24 741.53 563.09 210.29
2015-12-31 3,726.89 657.24 535.22 203.51
2015-09-30 3,536.94 655.57 507.58 192.48
2015-06-30 3,310.25 543.46 480.61 189.00
2015-03-31 3,113.24 505.72 466.61 184.15
2014-12-31 3,110.19 584.77 462.81 172.70
2014-09-30 2,999.89 559.49 440.37 167.54
2014-06-30 2,970.99 612.31 422.59 156.94
2014-03-31 2,889.41 602.65 400.31 150.78
2013-12-31 2,690.27 527.03 374.21 152.07
2013-09-30 2,502.88 446.37 340.45 150.89
2013-06-30 2,370.89 397.25 328.24 144.24

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

9951 Health

 How is Macauto 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 Macauto Industrial's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Macauto Industrial is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Macauto Industrial's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Macauto 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 4.1x 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 Macauto Industrial Company Filings, last reported 3 months ago.

GTSM:9951 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,871.98 844.23 993.51
2019-09-30 2,725.85 666.80 911.37
2019-06-30 2,656.26 900.91 1,073.03
2019-03-31 2,841.66 1,007.23 828.28
2018-12-31 2,660.89 1,160.01 733.58
2018-09-30 2,495.12 877.21 662.16
2018-06-30 2,408.81 1,101.09 734.86
2018-03-31 2,716.16 1,251.53 749.17
2017-12-31 2,508.45 1,247.24 949.20
2017-09-30 2,357.97 1,075.39 916.45
2017-06-30 2,190.37 1,048.18 828.01
2017-03-31 2,432.51 1,097.99 888.05
2016-12-31 2,309.71 973.27 920.81
2016-09-30 2,098.90 1,128.51 881.46
2016-06-30 1,976.12 795.03 1,005.91
2016-03-31 2,234.06 811.92 748.79
2015-12-31 2,056.27 812.39 744.53
2015-09-30 1,904.18 823.74 498.23
2015-06-30 1,670.91 852.05 875.33
2015-03-31 1,912.65 907.13 815.09
2014-12-31 1,819.79 790.00 693.10
2014-09-30 1,615.63 815.42 565.84
2014-06-30 1,513.98 672.92 624.45
2014-03-31 1,764.04 721.67 702.37
2013-12-31 1,585.11 554.17 619.01
2013-09-30 1,414.93 616.67 341.92
2013-06-30 1,282.91 349.17 354.66
  • Macauto Industrial's level of debt (29.4%) 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 (43.5% vs 29.4% today).
  • Debt is well covered by operating cash flow (111.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 129.2x coverage).
X
Financial health checks
We assess Macauto 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. Macauto Industrial has a total score of 6/6, 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.

9951 Dividends

 What is Macauto 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
6.9%
Current annual income from Macauto Industrial dividends. Estimated to be 8.68% next year.
If you bought NT$2,000 of Macauto Industrial shares you are expected to receive NT$138 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?
  • Macauto Industrial's pays a higher dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.25%).
  • Macauto 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:9951 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 7 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:9951 Future Dividends Estimate Data
Date (Data in NT$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 5.99 1.00
2020-12-31 4.94 2.00
2020-04-03
GTSM:9951 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2019-03-25 4.200 4.932
2019-03-18 4.200 4.645
2018-03-28 5.300 5.650
2017-03-29 5.800 3.427
2016-03-24 5.500 3.045
2015-03-20 5.400 3.740
2014-11-11 5.000 4.473
2014-05-12 3.600 2.940
2013-03-14 2.000 2.367
2012-03-23 2.500 6.990
2011-04-28 2.000 7.262
2011-03-28 2.000 6.754
2010-04-15 0.000 0.000
2009-10-29 0.000 0.000
2009-10-15 0.000 0.000
2009-08-24 0.000 0.000
2009-07-15 0.000 0.000
2009-04-29 0.000 0.000
2009-04-15 0.000 0.000
2009-04-10 0.000 0.000

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

  • Macauto 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 Macauto Industrial only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Macauto Industrial's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess Macauto 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 Macauto Industrial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Macauto 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.

9951 Management

 What is the CEO of Macauto 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
You Zhou
CEO Bio

You Shan Zhou serves as the Chairman, General Manager and Delegate of Business Center at Macauto Industrial Co., Ltd.

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

You Zhou

TITLE
Chairman

Yong Qing Lin

TITLE
President and Delegate of Development Department

Dian Chang Liu

TITLE
Vice President and Delegate of Administration Department
Board of Directors

You Zhou

TITLE
Chairman

An Hang Chen

TITLE
Independent Director

Ya Juan Wu

TITLE
Independent Director

Yu Zheng Guo

TITLE
Supervisor

Deng Cheng Huang

TITLE
Supervisor
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 Macauto 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. Macauto 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.

9951 News

Simply Wall St News

9951 Company Info

Description

Macauto Industrial Co., Ltd. engages in the manufacture and sale of automotive sunshade products. The company offers automotive interiors, such as Sunshades for roof systems, luggage cover systems, side and rear window shades, wind deflectors, divider net systems, and mobile phone/tablet holder. It also provides garden tools, including cordless electric mower, electric wheelbarrows, and robotic golf caddy cart. Macauto Industrial Co., Ltd. was founded in 1979 and is headquartered in Tainan, Taiwan.

Details
Name: Macauto Industrial Co., Ltd.
9951
Exchange: GTSM
Founded: 1979
NT$4,561,410,000
74,900,000
Website: http://www.macauto-group.com
Address: Macauto Industrial Co., Ltd.
No. 6, Yongke 5th Road,
Yongkang District,
Tainan,
710,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 9951 Common Stock Taipei Exchange TW TWD 18. Dec 2003
Number of employees
Current staff
Staff numbers
0
Macauto Industrial employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 16:52
End of day share price update: 2020/04/01 00:00
Last estimates confirmation: 2020/03/26
Last earnings filing: 2020/03/23
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.