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Forest Water Environmental Engineering

TSEC:8473
Snowflake Description

Mediocre balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
8473
TSEC
NT$5B
Market Cap
  1. Home
  2. TW
  3. Commercial Services
Company description

Forest Water Environmental Engineering Co., Ltd. The last earnings update was 10 days ago. More info.


Add to Portfolio Compare Print
  • Forest Water Environmental Engineering has significant price volatility in the past 3 months.
8473 Share Price and Events
7 Day Returns
3.4%
TSEC:8473
1.4%
TW Commercial Services
4.9%
TW Market
1 Year Returns
-34.8%
TSEC:8473
-10.6%
TW Commercial Services
-7.7%
TW Market
8473 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Forest Water Environmental Engineering (8473) 3.4% -13% -22.2% -34.8% -42.4% -37%
TW Commercial Services 1.4% -8.1% -8.4% -10.6% -5.7% 2.6%
TW Market 4.9% -7.9% -15.3% -7.7% 1.3% 4.7%
1 Year Return vs Industry and Market
  • 8473 underperformed the Commercial Services industry which returned -10.6% over the past year.
  • 8473 underperformed the Market in Taiwan, Province of China which returned -7.7% over the past year.
Price Volatility
8473
Industry
5yr Volatility vs Market

8473 Value

 Is Forest Water Environmental Engineering 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 Forest Water Environmental Engineering 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 Forest Water Environmental Engineering.

TSEC:8473 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in TWD NT$ 2.560000
Payout Ratio Company Filings (2019-12-31) 10803.1%
Discount Rate (Cost of Equity) See below 6.6%
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:8473
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year TW Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.736 (1 + (1- 20%) (100.71%))
0.941
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (0.941 * 6.21%)
6.56%

Discounted Cash Flow Calculation for TSEC:8473 using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Forest Water Environmental Engineering is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

TSEC:8473 Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= NT$2.56 / (6.56% - 0.71%)
NT$35.73
TSEC:8473 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$35.73
Current discount Discount to share price of NT$38.10
= -1 x (NT$38.10 - NT$35.73) / NT$35.73
-6.6%

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

  • The current share price of Forest Water Environmental Engineering 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 Forest Water Environmental Engineering's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Forest Water Environmental Engineering's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSEC:8473 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$2.25
TSEC:8473 Share Price ** TSEC (2020-04-09) in TWD NT$38.1
Taiwan, Province of China Commercial Services Industry PE Ratio Median Figure of 18 Publicly-Listed Commercial Services Companies 16.71x
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 Forest Water Environmental Engineering.

TSEC:8473 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSEC:8473 Share Price ÷ EPS (both in TWD)

= 38.1 ÷ 2.25

16.94x

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

  • Forest Water Environmental Engineering is overvalued based on earnings compared to the TW Commercial Services industry average.
  • Forest Water Environmental Engineering is overvalued based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Forest Water Environmental Engineering's expected growth come at a high price?
Raw Data
TSEC:8473 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Commercial Services Industry PEG Ratio Median Figure of 76 Publicly-Listed Commercial Services Companies 1.28x
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 .

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

  • Unable to calculate PEG ratio for Forest Water Environmental Engineering, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Forest Water Environmental Engineering's assets?
Raw Data
TSEC:8473 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$42.12
TSEC:8473 Share Price * TSEC (2020-04-09) in TWD NT$38.1
Taiwan, Province of China Commercial Services Industry PB Ratio Median Figure of 23 Publicly-Listed Commercial Services Companies 1.3x
Taiwan, Province of China Market PB Ratio Median Figure of 1,962 Publicly-Listed Companies 1.22x
TSEC:8473 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSEC:8473 Share Price ÷ Book Value per Share (both in TWD)

= 38.1 ÷ 42.12

0.9x

* Primary Listing of Forest Water Environmental Engineering.

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

  • Forest Water Environmental Engineering is good value based on assets compared to the TW Commercial Services industry average.
X
Value checks
We assess Forest Water Environmental Engineering'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. Forest Water Environmental Engineering has a total score of 1/6, 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.

8473 Future Performance

 How is Forest Water Environmental Engineering 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 Forest Water Environmental Engineering 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
17.9%
Expected Commercial Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Forest Water Environmental Engineering expected to grow at an attractive rate?
  • Unable to compare Forest Water Environmental Engineering's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Forest Water Environmental Engineering's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare Forest Water Environmental Engineering's revenue growth to the Taiwan, Province of China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSEC:8473 Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 17.9%
Asia Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 12.6%
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:8473 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.
TSEC:8473 Future Estimates Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
TSEC:8473 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 4,447 284 305
2019-09-30 4,780 92 300
2019-06-30 4,769 -215 325
2019-03-31 4,597 -438 303
2018-12-31 4,538 -310 367
2018-09-30 4,015 -396 390
2018-06-30 3,551 -24 378
2018-03-31 3,098 123 378
2017-12-31 2,751 86 412
2017-09-30 2,584 169 443
2017-06-30 2,511 410 467
2017-03-31 2,392 481 497

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Forest Water Environmental Engineering is high growth as no earnings estimate data is available.
  • Unable to determine if Forest Water Environmental Engineering 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:8473 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 Forest Water Environmental Engineering Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSEC:8473 Future Estimates Data
Date (Data in TWD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
TSEC:8473 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 2.25
2019-09-30 2.22
2019-06-30 2.42
2019-03-31 2.27
2018-12-31 2.78
2018-09-30 2.95
2018-06-30 2.86
2018-03-31 2.86
2017-12-31 3.12
2017-09-30 3.35
2017-06-30 3.59
2017-03-31 3.92

*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 Forest Water Environmental Engineering will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Forest Water Environmental Engineering'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 Commercial Services companies here
  2. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Forest Water Environmental Engineering'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 Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia 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.
Forest Water Environmental Engineering 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.

8473 Past Performance

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

TSEC:8473 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 4,446.97 305.00 215.88 3.67
2019-09-30 4,779.51 300.13 246.42 3.91
2019-06-30 4,768.62 324.99 243.95 5.99
2019-03-31 4,596.95 302.56 221.92 6.58
2018-12-31 4,537.96 367.15 199.94 5.93
2018-09-30 4,015.18 389.60 177.05 5.87
2018-06-30 3,550.76 378.06 150.70 8.15
2018-03-31 3,098.13 377.62 141.52 8.65
2017-12-31 2,751.22 412.16 133.74 11.48
2017-09-30 2,583.85 443.35 109.05 11.96
2017-06-30 2,511.36 467.39 110.88 12.96
2017-03-31 2,391.57 496.93 115.94 15.58
2016-12-31 2,270.10 488.48 113.06 12.84
2016-09-30 2,110.42 412.47 134.30 12.53
2016-06-30 1,860.79 392.16 125.90 8.36
2016-03-31 1,725.52 371.37 117.35 5.30
2015-12-31 1,557.75 343.93 102.54 5.33
2015-09-30 1,369.82 338.24 95.04 3.71
2015-06-30 1,425.90 302.64 102.98 2.36
2015-03-31 1,480.05 308.56 105.60 1.35
2014-12-31 1,503.39 300.51 118.71
2014-09-30 1,552.65 333.52 103.59
2014-06-30 1,601.92 366.53 88.47
2014-03-31 1,546.17 377.47 75.72
2013-12-31 1,490.41 388.41 62.97

*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.
  • Forest Water Environmental Engineering has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Forest Water Environmental Engineering used its assets less efficiently than the TW Commercial Services industry average last year based on Return on Assets.
  • Forest Water Environmental Engineering's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Forest Water Environmental Engineering'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 Commercial Services 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.
Forest Water Environmental Engineering has a total score of 0/6, 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.

8473 Health

 How is Forest Water Environmental Engineering'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 Forest Water Environmental Engineering's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Forest Water Environmental Engineering is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Forest Water Environmental Engineering's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Forest Water Environmental Engineering'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 not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Forest Water Environmental Engineering Company Filings, last reported 3 months ago.

TSEC:8473 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 7,151.37 5,131.57 1,765.53
2019-09-30 7,007.16 5,141.64 1,371.55
2019-06-30 6,956.23 4,711.34 1,299.63
2019-03-31 7,333.04 4,673.92 1,551.08
2018-12-31 6,935.05 4,570.50 1,297.45
2018-09-30 6,822.24 4,468.11 1,245.34
2018-06-30 6,695.55 3,782.92 1,439.95
2018-03-31 6,968.91 3,406.09 1,167.19
2017-12-31 6,714.22 3,586.72 1,383.10
2017-09-30 6,320.55 3,163.10 829.40
2017-06-30 6,147.86 2,824.80 1,342.51
2017-03-31 6,538.43 2,821.85 1,383.23
2016-12-31 6,381.56 2,935.49 1,885.31
2016-09-30 6,215.67 2,978.11 1,543.28
2016-06-30 5,366.78 2,971.75 1,138.26
2016-03-31 5,700.75 3,034.36 1,200.17
2015-12-31 5,540.37 3,228.00 1,751.03
2015-09-30
2015-06-30 5,041.96 3,284.25 1,698.35
2015-03-31 5,282.98 3,377.43 1,469.96
2014-12-31 5,282.98 3,377.43 1,469.96
2014-09-30 5,282.98 3,377.43 1,469.96
2014-06-30 4,635.49 3,315.70 977.86
2014-03-31 4,635.49 3,315.70 977.86
2013-12-31 4,765.09 3,225.99 479.09
  • Forest Water Environmental Engineering's level of debt (71.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (63.9% vs 71.8% today).
  • Debt is not well covered by operating cash flow (5.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.1x coverage).
X
Financial health checks
We assess Forest Water Environmental Engineering'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. Forest Water Environmental Engineering has a total score of 3/6, 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.

8473 Dividends

 What is Forest Water Environmental Engineering's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.72%
Current annual income from Forest Water Environmental Engineering dividends.
If you bought NT$2,000 of Forest Water Environmental Engineering shares you are expected to receive NT$134 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?
  • Forest Water Environmental Engineering's pays a higher dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.07%).
  • Forest Water Environmental Engineering's dividend is above 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:8473 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 Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 5.2%
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:8473 Future Dividends Estimate Data
Date (Data in NT$) Dividend per Share (annual) Avg. No. Analysts
TSEC:8473 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2019-08-14 2.560 5.309
2019-03-29 2.560 4.773
2019-03-28 2.560 4.339
2017-05-15 3.200 5.082
2017-03-30 3.200 4.971
2017-03-27 3.200 5.318
2016-03-29 3.600 6.324
2015-04-23 3.600 6.123

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

  • Whilst dividend payments have been stable, Forest Water Environmental Engineering has been paying a dividend for less than 10 years.
  • Forest Water Environmental Engineering has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Forest Water Environmental Engineering's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x 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 Forest Water Environmental Engineering'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 Forest Water Environmental Engineering afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Forest Water Environmental Engineering has a total score of 2/6, see the detailed checks below.


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

8473 Management

 What is the CEO of Forest Water Environmental Engineering'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
Jen-Chieh Wu
TENURE AS CEO 5.3 years
CEO Bio

Mr. Jen-Chieh Wu serves as President of Green Forest Development Enterprise Co., Ltd. and East Forest Development Enterprise Co., Ltd. Mr. Wu has been the President at Forest Water Environmental Engineering Co., Ltd. since December 03, 2014. He served as Executive Vice President of Green Forest Development Enterprise Co., Ltd. and East Forest Development Enterprise Co., Ltd. Mr. Wu served as a Director at Forest Water Environmental Engineering Co., Ltd. since July 15, 2014. He serves as a Director of Hejing Enterprise Co., Ltd. He has a Master's degree in Environmental Engineering from National Central University.

CEO Compensation
  • Insufficient data for Jen-Chieh to compare compensation growth.
  • Insufficient data for Jen-Chieh 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 Forest Water Environmental Engineering management team in years:

6
Average Tenure
  • The average tenure for the Forest Water Environmental Engineering management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jen-Chieh Wu

TITLE
President
TENURE
5.3 yrs

Ya-Ching Huang

TITLE
Head of Finance
TENURE
6 yrs

Xin Wen Yang

TITLE
Head of Accounting

Tsung Ming Liao

TITLE
Executive Vice President
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure of the Forest Water Environmental Engineering board of directors in years:

5.8
Average Tenure
  • The tenure for the Forest Water Environmental Engineering board of directors is about average.
Board of Directors

Shu-Chen Kuo

TITLE
Chairman of the Board
TENURE
7.2 yrs

Rong Hui Liu

TITLE
Independent Director

Chi Kang Guo

TITLE
Director

Hai Feng Li

TITLE
Director
TENURE
5.8 yrs

Yao-Hung Tsao

TITLE
Director
TENURE
5.8 yrs

Cun Fu Wu

TITLE
Director

Hong Da Xie

TITLE
Director

Ming Zhe Xu

TITLE
Director

Fan Zhi Wu

TITLE
Independent Director

Zhen Dong Gu

TITLE
Independent Director
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 Forest Water Environmental Engineering'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. Forest Water Environmental Engineering 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.

8473 News

Simply Wall St News

8473 Company Info

Description

Forest Water Environmental Engineering Co., Ltd. engages in environmental engineering business in Taiwan. The company engages in the operation and management of sewage treatment plants, recycling plants, desalination plants, and others. It also designs, constructs, engineers, and operates recycled water, wastewater recycling, and recycling sludge treatment technology and equipment; and undertakes soil remediation and restoration works. In addition, the company provides engineering design, construction, operation, and maintenance services for desalination technology and equipment, as well as for livestock manure, kitchen waste and other organic waste, and recycling technology and equipment. Further, it engages in the construction and engineering of waterworks, science-based industrial parks, sewage treatment plants, industrial sewage treatment plants, and recycling plants. The company was founded in 1993 and is headquartered in Taipei City, Taiwan.

Details
Name: Forest Water Environmental Engineering Co., Ltd.
8473
Exchange: TSEC
Founded: 1993
NT$5,136,348,515
134,812,297
Website: http://www.mfw.com.tw
Address: Forest Water Environmental Engineering Co., Ltd.
No.99, Jilin Road,
3rd Floor,
Taipei City,
104,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSEC 8473 Common Stock Taiwan Stock Exchange TW TWD 30. Mar 2015
Number of employees
Current staff
Staff numbers
0
Forest Water Environmental Engineering employees.
Industry
Environmental and Facilities Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 18:32
End of day share price update: 2020/04/09 00:00
Last estimates confirmation: 2018/03/30
Last earnings filing: 2020/03/30
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.