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Voltronic Power Technology

TSEC:6409
Snowflake Description

Outstanding track record with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
6409
TSEC
NT$55B
Market Cap
  1. Home
  2. TW
  3. Capital Goods
Company description

Voltronic Power Technology Corp. primarily designs, manufactures, markets, introduces, and sells uninterruptible power systems (UPS) in Taiwan and China. The last earnings update was 42 days ago. More info.


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6409 Share Price and Events
7 Day Returns
2.8%
TSEC:6409
3.3%
TW Electrical
4.9%
TW Market
1 Year Returns
13.8%
TSEC:6409
-11.7%
TW Electrical
-7.7%
TW Market
6409 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Voltronic Power Technology (6409) 2.8% 1.2% -19.6% 13.8% 64.7% 137.3%
TW Electrical 3.3% -8.7% -17.1% -11.7% -6% -1.1%
TW Market 4.9% -7.9% -15.3% -7.7% 1.3% 4.7%
1 Year Return vs Industry and Market
  • 6409 outperformed the Electrical industry which returned -11.7% over the past year.
  • 6409 outperformed the Market in Taiwan, Province of China which returned -7.7% over the past year.
Price Volatility
6409
Industry
5yr Volatility vs Market

6409 Value

 Is Voltronic Power Technology 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 Voltronic Power Technology 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 Voltronic Power Technology.

TSEC:6409 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
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:6409
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 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.135 (1 + (1- 20%) (2.44%))
1.106
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.11
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (1.106 * 6.21%)
7.58%

Discounted Cash Flow Calculation for TSEC:6409 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Voltronic Power Technology 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:6409 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (TWD, Millions) Source Present Value
Discounted (@ 7.58%)
2020 1,913.00 Analyst x3 1,778.28
2021 2,355.00 Analyst x3 2,034.99
2022 2,554.31 Est @ 8.46% 2,051.78
2023 2,711.08 Est @ 6.14% 2,024.35
2024 2,833.33 Est @ 4.51% 1,966.65
2025 2,928.80 Est @ 3.37% 1,889.75
2026 3,004.12 Est @ 2.57% 1,801.84
2027 3,064.59 Est @ 2.01% 1,708.67
2028 3,114.31 Est @ 1.62% 1,614.11
2029 3,156.30 Est @ 1.35% 1,520.68
Present value of next 10 years cash flows NT$18,391.00
TSEC:6409 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NT$3,156.30 × (1 + 0.71%) ÷ (7.58% – 0.71%)
NT$46,298.45
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NT$46,298.45 ÷ (1 + 7.58%)10
NT$22,306.15
TSEC:6409 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NT$18,391.00 + NT$22,306.15
NT$40,697.15
Equity Value per Share
(TWD)
= Total value / Shares Outstanding
= NT$40,697.15 / 83.30
NT$488.55
TSEC:6409 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$488.55
Current discount Discount to share price of NT$658.00
= -1 x (NT$658.00 - NT$488.55) / NT$488.55
-34.7%

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

  • The current share price of Voltronic Power Technology is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Voltronic Power Technology's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Voltronic Power Technology's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSEC:6409 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$25.87
TSEC:6409 Share Price ** TSEC (2020-04-09) in TWD NT$658
Taiwan, Province of China Electrical Industry PE Ratio Median Figure of 59 Publicly-Listed Electrical Companies 12.78x
Taiwan, Province of China Market PE Ratio Median Figure of 1,476 Publicly-Listed Companies 14.6x

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

** Primary Listing of Voltronic Power Technology.

TSEC:6409 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSEC:6409 Share Price ÷ EPS (both in TWD)

= 658 ÷ 25.87

25.43x

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

  • Voltronic Power Technology is overvalued based on earnings compared to the TW Electrical industry average.
  • Voltronic Power Technology is overvalued based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Voltronic Power Technology's expected growth come at a high price?
Raw Data
TSEC:6409 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
13.3%per year
Taiwan, Province of China Electrical Industry PEG Ratio Median Figure of 5 Publicly-Listed Electrical Companies 1.83x
Taiwan, Province of China Market PEG Ratio Median Figure of 183 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

TSEC:6409 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.43x ÷ 13.3%

1.91x

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

  • Voltronic Power Technology is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Voltronic Power Technology's assets?
Raw Data
TSEC:6409 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$58.58
TSEC:6409 Share Price * TSEC (2020-04-09) in TWD NT$658
Taiwan, Province of China Electrical Industry PB Ratio Median Figure of 78 Publicly-Listed Electrical Companies 1x
Taiwan, Province of China Market PB Ratio Median Figure of 1,962 Publicly-Listed Companies 1.22x
TSEC:6409 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSEC:6409 Share Price ÷ Book Value per Share (both in TWD)

= 658 ÷ 58.58

11.23x

* Primary Listing of Voltronic Power Technology.

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

  • Voltronic Power Technology is overvalued based on assets compared to the TW Electrical industry average.
X
Value checks
We assess Voltronic Power Technology'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. Voltronic Power Technology has a total score of 0/6, 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.

6409 Future Performance

 How is Voltronic Power Technology expected to perform in the next 1 to 3 years based on estimates from 3 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
13.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Voltronic Power Technology expected to grow at an attractive rate?
  • Voltronic Power Technology's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Voltronic Power Technology's earnings growth is expected to exceed the Taiwan, Province of China market average.
  • Voltronic Power Technology's revenue growth is expected to exceed the Taiwan, Province of China market average.
Annual Growth Rates Comparison
Raw Data
TSEC:6409 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSEC:6409 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 13.3%
TSEC:6409 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 11.7%
Taiwan, Province of China Electrical Industry Earnings Growth Rate Market Cap Weighted Average 9.7%
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%
Taiwan, Province of China Market Revenue Growth Rate Market Cap Weighted Average 6.6%

*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:6409 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSEC:6409 Future Estimates Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 16,309 2,691 2,758 3
2020-12-31 13,816 2,193 2,155 1
2020-04-09
TSEC:6409 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 12,936 2,997 2,131
2019-09-30 12,592 2,756 2,075
2019-06-30 12,325 2,540 2,007
2019-03-31 11,746 2,253 1,895
2018-12-31 11,408 1,865 1,814
2018-09-30 11,060 1,694 1,717
2018-06-30 10,563 1,637 1,475
2018-03-31 10,185 1,459 1,345
2017-12-31 9,862 1,741 1,364
2017-09-30 9,237 1,710 1,370
2017-06-30 8,744 1,398 1,376
2017-03-31 8,296 1,491 1,416

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Voltronic Power Technology's earnings are expected to grow by 13.3% yearly, however this is not considered high growth (20% yearly).
  • Voltronic Power Technology's revenue is expected to grow by 11.7% 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
TSEC:6409 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 3 Analyst Estimates (S&P Global) See Below

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

TSEC:6409 Future Estimates Data
Date (Data in TWD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 33.15 35.00 31.03 3.00
2020-12-31 26.61 28.09 25.19 4.00
2020-04-09
TSEC:6409 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 25.87
2019-09-30 25.22
2019-06-30 24.42
2019-03-31 23.06
2018-12-31 22.07
2018-09-30 20.91
2018-06-30 17.97
2018-03-31 16.39
2017-12-31 16.63
2017-09-30 16.68
2017-06-30 16.74
2017-03-31 17.23

*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.
  • Voltronic Power Technology is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Voltronic Power Technology'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.
Voltronic Power Technology has a total score of 4/6, 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.

6409 Past Performance

  How has Voltronic Power Technology 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 Voltronic Power Technology'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.
  • Voltronic Power Technology's year on year earnings growth rate has been positive over the past 5 years.
  • Voltronic Power Technology's 1-year earnings growth exceeds its 5-year average (17.5% vs 11.6%)
  • Voltronic Power Technology's earnings growth has exceeded the TW Electrical industry average in the past year (17.5% vs 2.8%).
Earnings and Revenue History
Voltronic Power Technology'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 Voltronic Power Technology Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSEC:6409 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 12,936.38 2,131.03 661.36 566.54
2019-09-30 12,591.76 2,074.60 643.62 488.41
2019-06-30 12,325.38 2,007.01 630.04 459.56
2019-03-31 11,745.74 1,894.60 607.22 436.91
2018-12-31 11,407.89 1,813.63 576.49 417.71
2018-09-30 11,060.11 1,716.78 555.68 377.53
2018-06-30 10,563.45 1,474.54 526.95 365.73
2018-03-31 10,185.43 1,344.71 507.00 354.88
2017-12-31 9,862.23 1,363.64 506.48 359.58
2017-09-30 9,237.02 1,370.40 526.47 371.00
2017-06-30 8,743.75 1,375.72 484.16 361.35
2017-03-31 8,295.84 1,415.74 452.86 358.43
2016-12-31 8,120.22 1,428.34 448.07 358.26
2016-09-30 8,067.10 1,396.21 431.78 351.46
2016-06-30 8,142.28 1,516.02 470.51 343.95
2016-03-31 8,136.64 1,456.62 465.61 328.49
2015-12-31 8,039.32 1,416.71 451.00 307.81
2015-09-30 7,845.09 1,354.02 429.98 295.70
2015-06-30 7,539.64 1,185.35 383.33 286.44
2015-03-31 7,147.31 1,081.92 371.24 277.85
2014-12-31 6,723.03 995.40 357.19 268.37
2014-09-30 6,358.09 879.26 329.69 252.62
2014-06-30 6,006.09 748.45 340.23 244.70
2014-03-31 5,667.51 654.55 330.94 243.26
2013-12-31 5,491.11 610.54 325.13 235.01
2013-09-30 5,335.32 575.07 310.36 214.94
2013-06-30 5,117.73 571.42 276.66 196.13

*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.
  • Voltronic Power Technology made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Voltronic Power Technology used its assets more efficiently than the TW Electrical industry average last year based on Return on Assets.
  • Voltronic Power Technology has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Voltronic Power Technology'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.
Voltronic Power Technology has a total score of 6/6, 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.

6409 Health

 How is Voltronic Power Technology'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 Voltronic Power Technology's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Voltronic Power Technology is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Voltronic Power Technology's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Voltronic Power Technology'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 6.9x 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 Voltronic Power Technology Company Filings, last reported 3 months ago.

TSEC:6409 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 4,879.92 1,091.31 4,002.80
2019-09-30 4,384.18 584.15 4,418.94
2019-06-30 3,832.41 409.12 3,754.71
2019-03-31 4,917.65 1,227.81 3,912.57
2018-12-31 4,450.01 397.48 2,629.23
2018-09-30 3,944.75 0.00 1,737.63
2018-06-30 3,466.81 0.00 3,105.79
2018-03-31 4,549.62 0.00 2,742.89
2017-12-31 4,178.76 0.00 2,694.88
2017-09-30 3,792.86 0.00 2,299.19
2017-06-30 3,393.96 0.00 3,590.81
2017-03-31 4,526.32 0.00 3,303.47
2016-12-31 4,288.26 0.00 3,281.56
2016-09-30 3,891.48 0.00 3,824.89
2016-06-30 3,613.35 0.00 4,144.76
2016-03-31 4,376.12 0.00 3,762.09
2015-12-31 4,068.36 0.00 3,485.06
2015-09-30 3,759.33 0.00 3,956.37
2015-06-30 3,253.56 0.00 3,473.16
2015-03-31 3,693.82 0.00 3,111.23
2014-12-31 3,405.10 0.00 2,796.38
2014-09-30 3,087.97 0.00 2,917.05
2014-06-30 2,775.54 0.00 3,482.24
2014-03-31 3,040.01 0.00 3,283.68
2013-12-31 1,977.92 0.00 2,164.72
2013-09-30 1,789.88 0.00 1,913.11
2013-06-30 1,377.96 0.00 1,965.98
  • Voltronic Power Technology's level of debt (22.4%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Voltronic Power Technology's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (274.7%, greater than 20% of total debt).
  • Voltronic Power Technology earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Voltronic Power Technology'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. Voltronic Power Technology has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

6409 Dividends

 What is Voltronic Power Technology'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
3.53%
Current annual income from Voltronic Power Technology dividends. Estimated to be 3.45% next year.
If you bought NT$2,000 of Voltronic Power Technology shares you are expected to receive NT$71 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?
  • Voltronic Power Technology's pays a higher dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.07%).
  • Voltronic Power Technology's dividend is below the markets top 25% of dividend payers in Taiwan, Province of China (6.58%).
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:6409 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 3 Analyst Estimates (S&P Global) See Below
Taiwan, Province of China Electrical Industry Average Dividend Yield Market Cap Weighted Average of 53 Stocks 4.7%
Taiwan, Province of China Market Average Dividend Yield Market Cap Weighted Average of 1335 Stocks 4.4%
Taiwan, Province of China Minimum Threshold Dividend Yield 10th Percentile 1.7%
Taiwan, Province of China Bottom 25% Dividend Yield 25th Percentile 3.1%
Taiwan, Province of China Top 25% Dividend Yield 75th Percentile 6.6%

Industry and Market average data is calculated daily.

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

TSEC:6409 Future Dividends Estimate Data
Date (Data in NT$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 22.23 3.00
2020-12-31 24.00 1.00
2020-04-09
TSEC:6409 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2020-02-25 23.200 3.569
2018-02-26 19.048 3.620
2017-03-02 14.286 3.000
2016-08-08 13.609 3.146
2015-03-23 9.329 2.417
2014-11-07 6.006 2.458
2014-03-17 6.006 3.238
2013-05-22 5.485 4.747
2013-04-10 5.485 5.706

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

  • Whilst dividend payments have been stable, Voltronic Power Technology has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Voltronic Power Technology only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Voltronic Power Technology's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x 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 Voltronic Power Technology's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - 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 Voltronic Power Technology afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Voltronic Power Technology 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.

6409 Management

 What is the CEO of Voltronic Power Technology'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
Juor-Ming Hsieh
CEO Bio

Mr. Juor-Ming Hsieh serves as the Chairman and General Manager of Voltronic Power Technology Corporation and has been its Director since May 1, 2008. Mr. Hsieh served as the General Manager of Ming Fang International Investment Co., Ltd. Mr. Hsieh served as Chairman of Voltronic International Corp., Voltronic International H.K. Corp. Limited and Potentia Technology Inc. Limited. Mr. Hsieh served as a Director of Voltronic Power Technology (Shen Zhen) Corp. and Orchid Power (Shen Zhen) Manufacturing Company. Mr. Hsieh studied Department of Business Management from Tatung University.

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

Average tenure of the Voltronic Power Technology management team in years:

8.8
Average Tenure
  • The average tenure for the Voltronic Power Technology management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Juor-Ming Hsieh

TITLE
Chairman & GM

Kuo-Chin Wang

TITLE
Financial Manager
TENURE
11.9 yrs

Hui-Hua Yang

TITLE
Division Chief of Audit
TENURE
8.8 yrs

Chia-Yi Wang

TITLE
Vice General Manager
TENURE
11.9 yrs

Chih-Hsin Chin

TITLE
Vice General Manager
TENURE
1.8 yrs

Yvonne Chen

TITLE
Company Secretary
TENURE
0.4 yrs
Board of Directors Tenure

Average tenure of the Voltronic Power Technology board of directors in years:

5.7
Average Tenure
  • The tenure for the Voltronic Power Technology board of directors is about average.
Board of Directors

Chien-Jan Lee

TITLE
Independent Director
TENURE
7.3 yrs

Juor-Ming Hsieh

TITLE
Chairman & GM

Tsui-Fang Chen

TITLE
Director
TENURE
11.9 yrs

Ya-Jen Cheng

TITLE
Director
TENURE
4.8 yrs

Ching-Hsi Yang

TITLE
Independent Director
TENURE
6.5 yrs

Hsiu-Chih Wang

TITLE
Independent Director
TENURE
1.8 yrs

Passuello Fabio

TITLE
Director
TENURE
1.8 yrs
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 Voltronic Power Technology'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. Voltronic Power Technology 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.

6409 News

Simply Wall St News

6409 Company Info

Description

Voltronic Power Technology Corp. primarily designs, manufactures, markets, introduces, and sells uninterruptible power systems (UPS) in Taiwan and China. The company offers DC, standby, line interactive, and online UPS products; and solar power products, solar inverters, automatic voltage regulators, chargers, and accessories. It also provides ODM design and manufacturing of inverters. The company primarily serves the power market. The company was founded in 2008 and is headquartered in Taipei, Taiwan.

Details
Name: Voltronic Power Technology Corp.
6409
Exchange: TSEC
Founded: 2008
NT$54,812,381,736
83,301,492
Website: http://www.voltronicpower.com
Address: Voltronic Power Technology Corp.
No. 406, Xinhu 1st Road,
Neihu District,
Taipei,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSEC 6409 Common Stock Taiwan Stock Exchange TW TWD 26. Feb 2013
Number of employees
Current staff
Staff numbers
0
Voltronic Power Technology employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 18:10
End of day share price update: 2020/04/09 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/02/27
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.