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Chia Chang

TSEC:4942
Snowflake Description

Flawless balance sheet, undervalued and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4942
TSEC
NT$4B
Market Cap
  1. Home
  2. TW
  3. Capital Goods
Company description

Chia Chang Co., Ltd engages in the stamping of metal components in Taiwan, Japan, and Korea. The last earnings update was 18 days ago. More info.


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  • Chia Chang has significant price volatility in the past 3 months.
4942 Share Price and Events
7 Day Returns
5.5%
TSEC:4942
1%
TW Machinery
-0.2%
TW Market
1 Year Returns
-27.6%
TSEC:4942
-20.9%
TW Machinery
-10.7%
TW Market
4942 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chia Chang (4942) 5.5% -21.7% -28% -27.6% 12.7% -2.3%
TW Machinery 1% -18.3% -20.1% -20.9% -9.5% -7%
TW Market -0.2% -15.3% -20.2% -10.7% -4.1% -0.7%
1 Year Return vs Industry and Market
  • 4942 underperformed the Machinery industry which returned -20.9% over the past year.
  • 4942 underperformed the Market in Taiwan, Province of China which returned -10.7% over the past year.
Price Volatility
4942
Industry
5yr Volatility vs Market

4942 Value

 Is Chia Chang 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 Chia Chang 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 Chia Chang.

TSEC:4942 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
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 TSEC:4942
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year TW Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Machinery Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.962 (1 + (1- 20%) (9.84%))
1.025
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (1.025 * 6.21%)
7.08%

Discounted Cash Flow Calculation for TSEC:4942 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Chia Chang 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.

TSEC:4942 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (TWD, Millions) Source Present Value
Discounted (@ 7.08%)
2020 1,569.41 Est @ 46.34% 1,465.67
2021 2,081.79 Est @ 32.65% 1,815.67
2022 2,561.99 Est @ 23.07% 2,086.79
2023 2,981.12 Est @ 16.36% 2,267.67
2024 3,328.87 Est @ 11.66% 2,364.82
2025 3,607.77 Est @ 8.38% 2,393.54
2026 3,827.05 Est @ 6.08% 2,371.18
2027 3,998.02 Est @ 4.47% 2,313.38
2028 4,131.56 Est @ 3.34% 2,232.63
2029 4,236.97 Est @ 2.55% 2,138.24
Present value of next 10 years cash flows NT$21,449.00
TSEC:4942 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NT$4,236.97 × (1 + 0.71%) ÷ (7.08% – 0.71%)
NT$67,008.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NT$67,008.86 ÷ (1 + 7.08%)10
NT$33,816.94
TSEC:4942 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NT$21,449.00 + NT$33,816.94
NT$55,265.94
Equity Value per Share
(TWD)
= Total value / Shares Outstanding
= NT$55,265.94 / 142.37
NT$388.19
TSEC:4942 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$388.19
Current discount Discount to share price of NT$29.65
= -1 x (NT$29.65 - NT$388.19) / NT$388.19
92.4%

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

Current Discount
Amount off the current price Chia Chang is available for.
Intrinsic value
>50%
Share price is NT$29.65 vs Future cash flow value of NT$388.19
Current Discount Checks
For Chia Chang to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Chia Chang's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Chia Chang'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 Chia Chang's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chia Chang's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSEC:4942 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$4.57
TSEC:4942 Share Price ** TSEC (2020-04-01) in TWD NT$29.65
Taiwan, Province of China Machinery Industry PE Ratio Median Figure of 80 Publicly-Listed Machinery Companies 12.42x
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 Chia Chang.

TSEC:4942 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSEC:4942 Share Price ÷ EPS (both in TWD)

= 29.65 ÷ 4.57

6.49x

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

  • Chia Chang is good value based on earnings compared to the TW Machinery industry average.
  • Chia Chang is good value based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Chia Chang's expected growth come at a high price?
Raw Data
TSEC:4942 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
Taiwan, Province of China Machinery Industry PEG Ratio Median Figure of 5 Publicly-Listed Machinery Companies 0.73x
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 Chia Chang, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Chia Chang's assets?
Raw Data
TSEC:4942 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$49.89
TSEC:4942 Share Price * TSEC (2020-04-01) in TWD NT$29.65
Taiwan, Province of China Machinery Industry PB Ratio Median Figure of 102 Publicly-Listed Machinery Companies 1.29x
Taiwan, Province of China Market PB Ratio Median Figure of 1,961 Publicly-Listed Companies 1.17x
TSEC:4942 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSEC:4942 Share Price ÷ Book Value per Share (both in TWD)

= 29.65 ÷ 49.89

0.59x

* Primary Listing of Chia Chang.

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

  • Chia Chang is good value based on assets compared to the TW Machinery industry average.
X
Value checks
We assess Chia Chang'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 Machinery 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 Machinery industry average (and greater than 0)? (1 check)
  5. Chia Chang 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.

4942 Future Performance

 How is Chia Chang expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
24.2%
Expected Machinery industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chia Chang expected to grow at an attractive rate?
  • Unable to compare Chia Chang's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Chia Chang's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare Chia Chang's revenue growth to the Taiwan, Province of China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSEC:4942 Future Growth Rates Data Sources
Data Point Source Value (per year)
Taiwan, Province of China Machinery Industry Earnings Growth Rate Market Cap Weighted Average 24.2%
Taiwan, Province of China Machinery Industry Revenue Growth Rate Market Cap Weighted Average 12.8%
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
TSEC:4942 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSEC:4942 Future Estimates Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 6,868 547 1
2020-04-04
TSEC:4942 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 7,623 1,246 650
2019-09-30 7,696 1,189 631
2019-06-30 7,641 1,084 680
2019-03-31 7,623 828 766
2018-12-31 7,143 670 641
2018-09-30 6,769 786 584
2018-06-30 6,369 440 356
2018-03-31 6,230 240 236
2017-12-31 6,278 273 250
2017-09-30 6,133 264 195
2017-06-30 6,025 524 260
2017-03-31 6,026 766 288

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Chia Chang is high growth as no earnings estimate data is available.
  • Unable to determine if Chia Chang 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
TSEC:4942 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 1 Analyst Estimates (S&P Global) See Below

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

TSEC:4942 Future Estimates Data
Date (Data in TWD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 3.84 3.84 3.84 1.00
2020-04-04
TSEC:4942 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 4.57
2019-09-30 4.44
2019-06-30 4.78
2019-03-31 5.38
2018-12-31 4.50
2018-09-30 4.10
2018-06-30 2.50
2018-03-31 1.66
2017-12-31 1.75
2017-09-30 1.37
2017-06-30 1.82
2017-03-31 2.01

*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 Chia Chang will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Chia Chang'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.
Chia Chang 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.

4942 Past Performance

  How has Chia Chang 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 Chia Chang's growth in the last year to its industry (Machinery).
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.
  • Chia Chang has delivered over 20% year on year earnings growth in the past 5 years.
  • Chia Chang's 1-year earnings growth is less than its 5-year average (1.4% vs 43.5%)
  • Chia Chang's earnings growth has exceeded the TW Machinery industry average in the past year (1.4% vs -14.9%).
Earnings and Revenue History
Chia Chang'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 Chia Chang Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSEC:4942 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 7,622.72 649.96 745.25 80.88
2019-09-30 7,695.69 631.43 787.03 65.35
2019-06-30 7,640.53 680.06 755.65 65.65
2019-03-31 7,623.14 765.51 776.23 65.76
2018-12-31 7,142.53 641.19 734.03 65.55
2018-09-30 6,768.92 584.04 747.12 60.97
2018-06-30 6,368.85 356.00 748.69 59.05
2018-03-31 6,229.98 235.82 699.09 58.82
2017-12-31 6,278.19 249.53 734.84 59.67
2017-09-30 6,132.70 194.97 706.37 62.66
2017-06-30 6,025.12 260.17 709.87 63.20
2017-03-31 6,025.71 288.06 722.38 61.98
2016-12-31 6,151.74 325.54 748.31 59.07
2016-09-30 6,297.06 188.34 775.39 57.74
2016-06-30 6,495.79 -242.72 830.86 58.45
2016-03-31 6,710.34 -401.94 865.02 58.03
2015-12-31 7,035.33 -529.76 888.16 57.43
2015-09-30 7,555.45 -341.35 911.46 58.26
2015-06-30 8,438.55 117.25 914.28 58.82
2015-03-31 9,000.45 195.12 924.44 62.28
2014-12-31 9,440.66 393.74 917.31 72.61
2014-09-30 9,920.84 479.85 910.06 77.71
2014-06-30 10,039.02 538.33 893.59 78.65
2014-03-31 9,839.41 534.60 879.98 81.28
2013-12-31 9,555.63 498.50 861.48 74.78
2013-09-30 9,138.14 548.99 831.75 67.84
2013-06-30 8,612.62 559.97 796.65 67.87

*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.
  • Chia Chang has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chia Chang used its assets less efficiently than the TW Machinery industry average last year based on Return on Assets.
  • Chia Chang has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Chia Chang'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 Machinery 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.
Chia Chang has a total score of 3/6, 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.

4942 Health

 How is Chia Chang'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 Chia Chang's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chia Chang is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Chia Chang's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Chia Chang'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 21.4x 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 Chia Chang Company Filings, last reported 3 months ago.

TSEC:4942 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 7,109.66 365.00 3,904.61
2019-09-30 7,105.47 270.00 3,763.97
2019-06-30 7,033.90 111.00 3,694.14
2019-03-31 7,313.62 258.00 3,432.65
2018-12-31 7,011.04 305.00 3,296.29
2018-09-30 6,819.60 292.99 3,203.22
2018-06-30 6,788.82 414.97 3,547.63
2018-03-31 6,766.30 495.00 3,295.52
2017-12-31 6,630.38 715.99 3,650.93
2017-09-30 6,561.74 656.27 3,444.66
2017-06-30 6,454.54 456.96 3,432.09
2017-03-31 6,438.76 464.96 3,337.17
2016-12-31 6,755.06 298.46 3,349.10
2016-09-30 6,774.48 471.46 3,224.60
2016-06-30 6,926.32 320.28 3,211.48
2016-03-31 7,214.87 397.26 3,184.81
2015-12-31 7,283.13 724.61 3,375.75
2015-09-30 7,628.80 768.55 3,388.55
2015-06-30 7,786.55 834.73 3,495.53
2015-03-31 8,127.44 822.03 3,386.74
2014-12-31 8,278.96 1,095.65 3,049.15
2014-09-30 7,863.26 1,089.24 2,950.66
2014-06-30 7,617.50 830.35 2,750.56
2014-03-31 7,969.10 1,186.17 2,830.00
2013-12-31 7,716.64 1,245.50 2,888.96
2013-09-30 7,438.61 1,088.36 2,974.78
2013-06-30 7,339.47 1,044.41 3,389.41
  • Chia Chang's level of debt (5.1%) 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 (13.2% vs 5.1% today).
  • Debt is well covered by operating cash flow (341.5%, greater than 20% of total debt).
  • Chia Chang earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Chia Chang'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. Chia Chang 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.

4942 Dividends

 What is Chia Chang'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
8.43%
Current annual income from Chia Chang dividends.
If you bought NT$2,000 of Chia Chang shares you are expected to receive NT$169 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?
  • Chia Chang's pays a higher dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.26%).
  • Chia Chang's dividend is above the markets top 25% of dividend payers in Taiwan, Province of China (6.99%).
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
TSEC:4942 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 1 Analyst Estimates (S&P Global) See Below
Taiwan, Province of China Machinery Industry Average Dividend Yield Market Cap Weighted Average of 82 Stocks 4.3%
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%

Industry and Market average data is calculated daily.

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

TSEC:4942 Future Dividends Estimate Data
Date (Data in NT$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2020-04-04
TSEC:4942 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2020-03-17 2.500 9.026
2020-03-16 2.500 8.830
2019-03-25 2.500 6.346
2018-03-26 1.200 4.179
2018-03-22 1.200 5.180
2017-08-14 1.500 6.373
2017-03-30 1.500 6.021
2017-03-29 1.500 5.888
2016-11-11 1.258 4.828
2016-03-30 1.258 5.380
2015-03-30 1.500 6.580
2014-03-31 1.635 4.900
2013-11-14 2.003 5.306
2013-03-29 2.003 5.324
2012-08-31 2.249 6.437
2012-03-29 2.250 6.184
2011-10-27 2.160 4.832
2011-08-18 2.153 4.954
2011-04-28 2.392 4.725
2011-03-24 2.160 3.683
2010-06-28 1.758 3.070

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Chia Chang's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x 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 Chia Chang'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 Chia Chang afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chia Chang has a total score of 4/6, see the detailed checks below.


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

4942 Management

 What is the CEO of Chia Chang'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.
  • Chia Chang has no CEO, or we have no data on them.
Management Team

Chang-Hai Chen

TITLE
Founder and Director

L. Cheng

TITLE
Chief Financial Officer

Li-Zhen Huang

TITLE
Deputy General Manager

Huo-Xing Chen

TITLE
Deputy General Manager

Wen-Gong Li

TITLE
Deputy General Manager

Shang-Hao Zheng

TITLE
Deputy General Manager

Mo-Hua Su

TITLE
Deputy General Manager
Board of Directors

Kuei-Hsiu Sung

TITLE
Chairman

Chang-Hai Chen

TITLE
Founder and Director

Teh-Jung Kao

TITLE
Independent Director

Jui-Hsin Lin

TITLE
Independent Director

Ping-Kuen Chen

TITLE
Independent Director

Tsai-Ho Lu

TITLE
Director

Mei-Cheng Peng

TITLE
Supervisor
TENURE
3.8 yrs

Chyan Yang

TITLE
Supervisor

Chin-Teh Hsu

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 Chia Chang'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. Chia Chang 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.

4942 News

Simply Wall St News

4942 Company Info

Description

Chia Chang Co., Ltd engages in the stamping of metal components in Taiwan, Japan, and Korea. The company offers AV home appliances, such as external and front bezels, decorated slips, color plate back covers, lamp covers, bases, shielding products, heat sinks, inverter covers, and back covers; and IT appliances, including display and top covers, bottom cases, front bezels, and keyboards. It also provides internal and external surface components for mobile phones, PDAs, GPS, and digital cameras; and internal metal components for LED modules, LED light bars, and medical and solar applications. In addition, the company designs and manufactures precision molds for optronics, IT, and communication applications. It serves panel, backlight module, and IT OEM/ODM manufacturers. Chia Chang Co., Ltd was founded in 1985 and is based in Taoyuan, Taiwan.

Details
Name: Chia Chang Co., Ltd
4942
Exchange: TSEC
Founded: 1985
NT$4,221,211,200
142,368,000
Website: http://www.chiachang.com
Address: Chia Chang Co., Ltd
No. 45, Nanshan Road,
Lane 207,
Taoyuan,
338,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSEC 4942 Common Stock Taiwan Stock Exchange TW TWD 06. May 2010
Number of employees
Current staff
Staff numbers
0
Chia Chang employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 23:25
End of day share price update: 2020/04/01 00:00
Last estimates confirmation: 2020/03/16
Last earnings filing: 2020/03/17
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.