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Cincon Electronics

GTSM:3332
Snowflake Description

Flawless balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3332
GTSM
NT$1B
Market Cap
  1. Home
  2. TW
  3. Capital Goods
Company description

Cincon Electronics Co., Ltd. designs, manufactures, sells switch mode power conversion products to the communications, computer, industrial, medical, consumer, and lighting markets worldwide. The last earnings update was 17 days ago. More info.


Add to Portfolio Compare Print
  • Cincon Electronics has significant price volatility in the past 3 months.
3332 Share Price and Events
7 Day Returns
3.8%
GTSM:3332
2.2%
TW Electrical
0.4%
TW Market
1 Year Returns
-29.5%
GTSM:3332
-13.6%
TW Electrical
-10.7%
TW Market
3332 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cincon Electronics (3332) 3.8% -25.7% -26.7% -29.5% -22.5% -41.7%
TW Electrical 2.2% -13.7% -19.6% -13.6% -9.8% -4.6%
TW Market 0.4% -13.8% -20.2% -10.7% -4.7% -0.3%
1 Year Return vs Industry and Market
  • 3332 underperformed the Electrical industry which returned -13.6% over the past year.
  • 3332 underperformed the Market in Taiwan, Province of China which returned -10.7% over the past year.
Price Volatility
3332
Industry
5yr Volatility vs Market

Value

 Is Cincon Electronics 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 Cincon Electronics 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 Cincon Electronics.

GTSM:3332 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 7.4%
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:3332
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year TW Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Electrical Unlevered Beta Simply Wall St/ S&P Global 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.115 (1 + (1- 20%) (0.04%))
1.078
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (1.078 * 6.21%)
7.4%

Discounted Cash Flow Calculation for GTSM:3332 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Cincon Electronics 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:3332 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (TWD, Millions) Source Present Value
Discounted (@ 7.4%)
2020 338.21 Est @ 34.38% 314.90
2021 420.33 Est @ 24.28% 364.39
2022 492.66 Est @ 17.21% 397.66
2023 553.06 Est @ 12.26% 415.65
2024 601.70 Est @ 8.79% 421.04
2025 640.02 Est @ 6.37% 417.00
2026 669.92 Est @ 4.67% 406.40
2027 693.26 Est @ 3.48% 391.57
2028 711.63 Est @ 2.65% 374.25
2029 726.36 Est @ 2.07% 355.67
Present value of next 10 years cash flows NT$3,858.00
GTSM:3332 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NT$726.36 × (1 + 0.71%) ÷ (7.4% – 0.71%)
NT$10,931.84
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NT$10,931.84 ÷ (1 + 7.4%)10
NT$5,352.87
GTSM:3332 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NT$3,858.00 + NT$5,352.87
NT$9,210.87
Equity Value per Share
(TWD)
= Total value / Shares Outstanding
= NT$9,210.87 / 48.10
NT$191.48
GTSM:3332 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$191.48
Current discount Discount to share price of NT$27.50
= -1 x (NT$27.50 - NT$191.48) / NT$191.48
85.6%

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

Current Discount
Amount off the current price Cincon Electronics is available for.
Intrinsic value
>50%
Share price is NT$27.5 vs Future cash flow value of NT$191.48
Current Discount Checks
For Cincon Electronics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cincon Electronics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Cincon Electronics'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 Cincon Electronics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cincon Electronics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:3332 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$1.86
GTSM:3332 Share Price ** GTSM (2020-04-01) in TWD NT$27.5
Taiwan, Province of China Electrical Industry PE Ratio Median Figure of 59 Publicly-Listed Electrical Companies 13.12x
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 Cincon Electronics.

GTSM:3332 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:3332 Share Price ÷ EPS (both in TWD)

= 27.5 ÷ 1.86

14.81x

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

  • Cincon Electronics is overvalued based on earnings compared to the TW Electrical industry average.
  • Cincon Electronics is overvalued based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Cincon Electronics's expected growth come at a high price?
Raw Data
GTSM:3332 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.81x
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 Electrical Industry PEG Ratio Median Figure of 5 Publicly-Listed Electrical Companies 1.85x
Taiwan, Province of China Market PEG Ratio Median Figure of 183 Publicly-Listed Companies 1.04x

*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 Cincon Electronics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Cincon Electronics's assets?
Raw Data
GTSM:3332 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$27.49
GTSM:3332 Share Price * GTSM (2020-04-01) in TWD NT$27.5
Taiwan, Province of China Electrical Industry PB Ratio Median Figure of 78 Publicly-Listed Electrical Companies 0.96x
Taiwan, Province of China Market PB Ratio Median Figure of 1,961 Publicly-Listed Companies 1.17x
GTSM:3332 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:3332 Share Price ÷ Book Value per Share (both in TWD)

= 27.5 ÷ 27.49

1x

* Primary Listing of Cincon Electronics.

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

  • Cincon Electronics is overvalued based on assets compared to the TW Electrical industry average.
X
Value checks
We assess Cincon Electronics'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 Electrical 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 Electrical industry average (and greater than 0)? (1 check)
  5. Cincon Electronics 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 Cincon Electronics 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 Cincon Electronics 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
9.6%
Expected Electrical industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cincon Electronics expected to grow at an attractive rate?
  • Unable to compare Cincon Electronics's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Cincon Electronics's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare Cincon Electronics's revenue growth to the Taiwan, Province of China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
GTSM:3332 Future Growth Rates Data Sources
Data Point Source Value (per year)
Taiwan, Province of China Electrical Industry Earnings Growth Rate Market Cap Weighted Average 9.6%
Taiwan, Province of China Electrical Industry Revenue Growth Rate Market Cap Weighted Average 6.8%
Taiwan, Province of China Market Earnings Growth Rate Market Cap Weighted Average 11.1%
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:3332 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:3332 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,080 271 89
2019-09-30 1,110 278 103
2019-06-30 1,168 246 106
2019-03-31 1,188 202 113
2018-12-31 1,183 108 131
2018-09-30 1,179 74 141
2018-06-30 1,171 87 167
2018-03-31 1,178 124 189
2017-12-31 1,167 127 185
2017-09-30 1,141 133 168
2017-06-30 1,113 157 150
2017-03-31 1,092 122 121

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Cincon Electronics is high growth as no earnings estimate data is available.
  • Unable to determine if Cincon Electronics 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:3332 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 Cincon Electronics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:3332 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 1.86
2019-09-30 2.14
2019-06-30 2.21
2019-03-31 2.34
2018-12-31 2.73
2018-09-30 2.94
2018-06-30 3.48
2018-03-31 3.93
2017-12-31 3.85
2017-09-30 3.49
2017-06-30 3.12
2017-03-31 2.51

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

Next steps:

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

GTSM:3332 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 1,080.26 89.35 167.45 110.95
2019-09-30 1,109.80 102.83 163.60 111.26
2019-06-30 1,168.15 106.13 168.00 112.21
2019-03-31 1,187.58 112.54 166.37 106.67
2018-12-31 1,182.57 131.31 169.49 105.27
2018-09-30 1,179.34 141.37 170.63 106.16
2018-06-30 1,171.46 167.38 167.74 106.71
2018-03-31 1,177.58 189.14 167.02 109.78
2017-12-31 1,166.77 185.24 159.67 111.02
2017-09-30 1,141.13 168.03 155.34 113.54
2017-06-30 1,113.00 150.24 154.54 109.29
2017-03-31 1,092.44 120.72 153.63 105.63
2016-12-31 1,068.10 108.66 161.66 106.02
2016-09-30 1,102.83 107.16 167.43 100.51
2016-06-30 1,114.90 111.97 169.35 101.94
2016-03-31 1,115.88 125.20 171.41 100.08
2015-12-31 1,142.70 119.91 170.76 93.65
2015-09-30 1,141.06 140.14 168.33 91.51
2015-06-30 1,155.94 133.08 171.04 91.09
2015-03-31 1,183.50 142.14 172.63 90.65
2014-12-31 1,171.43 147.58 170.38 89.59
2014-09-30 1,166.62 145.64 156.13 96.03
2014-06-30 1,152.11 162.97 146.05 94.26
2014-03-31 1,146.66 161.00 137.69 97.56
2013-12-31 1,134.12 169.41 130.77 100.24
2013-09-30 1,127.01 161.04 130.39 89.28
2013-06-30 1,111.64 135.72 131.73 90.46

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cincon Electronics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Cincon Electronics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Cincon Electronics'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.
  • Cincon Electronics has no debt, it does not need to be covered by short term assets.
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 Cincon Electronics Company Filings, last reported 3 months ago.

GTSM:3332 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,322.26 0.00 825.08
2019-09-30 1,334.46 0.00 787.87
2019-06-30 1,328.49 0.00 837.16
2019-03-31 1,399.10 0.00 746.01
2018-12-31 1,362.77 0.00 708.69
2018-09-30 1,331.32 0.00 637.08
2018-06-30 1,310.48 0.00 747.00
2018-03-31 1,392.51 0.00 678.16
2017-12-31 1,360.61 0.00 742.62
2017-09-30 1,340.19 0.00 722.95
2017-06-30 1,286.17 0.00 774.16
2017-03-31 1,321.63 0.00 708.44
2016-12-31 1,341.18 0.00 809.15
2016-09-30 1,309.85 0.00 755.34
2016-06-30 1,308.10 0.00 823.37
2016-03-31 1,393.81 0.00 784.09
2015-12-31 1,381.45 0.00 792.28
2015-09-30 1,392.10 0.00 767.22
2015-06-30 1,285.32 0.00 779.00
2015-03-31 1,387.16 0.00 782.75
2014-12-31 1,374.00 0.00 839.91
2014-09-30 1,300.59 0.00 785.40
2014-06-30 1,248.71 0.00 863.52
2014-03-31 1,355.69 0.00 812.15
2013-12-31 1,307.36 0.00 811.57
2013-09-30 1,265.75 0.00 754.65
2013-06-30 1,227.90 0.00 825.20
  • Cincon Electronics has no debt.
  • Cincon Electronics has not taken on any debt in the past 5 years.
  • Cincon Electronics has no debt, it does not need to be covered by operating cash flow.
  • Cincon Electronics has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Cincon Electronics'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. Cincon Electronics 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.

Dividends

 What is Cincon Electronics'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
2.91%
Current annual income from Cincon Electronics dividends.
If you bought NT$2,000 of Cincon Electronics shares you are expected to receive NT$58 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?
  • Cincon Electronics's pays a lower dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.26%).
  • Cincon Electronics's dividend is below the markets top 25% of dividend payers in Taiwan, Province of China (7.08%).
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:3332 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 Electrical Industry Average Dividend Yield Market Cap Weighted Average of 53 Stocks 4.9%
Taiwan, Province of China Market Average Dividend Yield Market Cap Weighted Average of 1329 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 3.3%
Taiwan, Province of China Top 25% Dividend Yield 75th Percentile 7.1%

Industry and Market average data is calculated daily.

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

GTSM:3332 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2020-03-17 0.800 2.941
2020-03-12 0.800 2.521
2019-04-01 2.200 5.728
2019-03-27 2.200 5.648
2018-03-29 3.000 7.280
2017-03-31 2.000 4.720
2017-03-24 2.000 5.662
2016-03-29 2.200 6.036
2015-03-27 2.650 6.755
2014-05-13 2.800 6.486
2014-03-31 2.800 5.817
2013-03-21 1.900 4.572
2012-03-28 3.200 7.624
2011-04-28 4.000 8.564
2010-10-28 1.500 3.061
2010-08-25 1.500 3.357
2010-04-29 1.500 3.929
2010-03-26 1.500 4.000
2009-08-26 4.000 12.245
2009-04-30 4.000 11.104
2009-04-06 4.000 10.332

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of Cincon Electronics's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x 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 Cincon Electronics'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 Cincon Electronics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cincon Electronics has a total score of 1/6, 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 Cincon Electronics'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.
  • Cincon Electronics 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 Cincon Electronics'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. Cincon Electronics 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

Cincon Electronics Co., Ltd. designs, manufactures, sells switch mode power conversion products to the communications, computer, industrial, medical, consumer, and lighting markets worldwide. Its products include single and multiple output DC-DC converters from 1W to 700W, single and multiple output AC adapters from 5W to 150W, open frame AC-DC power supplies from 5W to 1600W, and LED power supplies from 16W to 150W. The company also provides modified standard and custom power conversion products. Cincon Electronics Co., Ltd. was founded in 1991 and is headquartered in Taipei, Taiwan.

Details
Name: Cincon Electronics Co., Ltd.
3332
Exchange: GTSM
Founded: 1991
NT$1,322,866,765
48,104,246
Website: http://www.cincon.com.tw
Address: Cincon Electronics Co., Ltd.
No. 306, Hsin Yi Road,
14th Floor,
Taipei,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 3332 Common Stock Taipei Exchange TW TWD 13. Sep 2004
Number of employees
Current staff
Staff numbers
0
Cincon Electronics employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 14:32
End of day share price update: 2020/04/01 00:00
Last earnings filing: 2020/03/16
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.