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WINSON Machinery

GTSM:4538
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4538
GTSM
NT$690M
Market Cap
  1. Home
  2. TW
  3. Materials
Company description

WINSON Machinery Co., LTD. produces and sells machine tool, wind power, ductile iron, and grey iron castings in Taiwan. The last earnings update was 12 days ago. More info.


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4538 Share Price and Events
7 Day Returns
1.8%
GTSM:4538
-2.2%
TW Metals and Mining
-0.5%
TW Market
1 Year Returns
-24.7%
GTSM:4538
-25%
TW Metals and Mining
-10.7%
TW Market
4538 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
WINSON Machinery (4538) 1.8% -9.1% -13.9% -24.7% -23.7% -26.3%
TW Metals and Mining -2.2% -16.2% -19.7% -25% -22% -20.3%
TW Market -0.5% -14.8% -20.2% -10.7% -4.3% -0.2%
1 Year Return vs Industry and Market
  • 4538 matched the Metals and Mining industry (-25%) over the past year.
  • 4538 underperformed the Market in Taiwan, Province of China which returned -10.7% over the past year.
Price Volatility
4538
Industry
5yr Volatility vs Market

Value

 Is WINSON Machinery 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 WINSON Machinery 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 WINSON Machinery.

GTSM:4538 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 6.4%
Perpetual Growth Rate 10-Year TW Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for GTSM:4538
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year TW Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.832 (1 + (1- 20%) (7.33%))
0.92
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (0.92 * 6.21%)
6.42%

Discounted Cash Flow Calculation for GTSM:4538 using 2 Stage Free Cash Flow to Equity Model

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

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

GTSM:4538 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (TWD, Millions) Source Present Value
Discounted (@ 6.42%)
2020 230.90 Est @ 37.1% 216.96
2021 291.35 Est @ 26.18% 257.25
2022 345.37 Est @ 18.54% 286.55
2023 390.93 Est @ 13.19% 304.78
2024 427.87 Est @ 9.45% 313.44
2025 457.07 Est @ 6.83% 314.63
2026 479.89 Est @ 4.99% 310.40
2027 497.68 Est @ 3.71% 302.48
2028 511.65 Est @ 2.81% 292.21
2029 522.80 Est @ 2.18% 280.56
Present value of next 10 years cash flows NT$2,879.00
GTSM:4538 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NT$522.80 × (1 + 0.71%) ÷ (6.42% – 0.71%)
NT$9,217.83
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NT$9,217.83 ÷ (1 + 6.42%)10
NT$4,946.76
GTSM:4538 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NT$2,879.00 + NT$4,946.76
NT$7,825.76
Equity Value per Share
(TWD)
= Total value / Shares Outstanding
= NT$7,825.76 / 47.60
NT$164.41
GTSM:4538 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$164.41
Current discount Discount to share price of NT$14.50
= -1 x (NT$14.50 - NT$164.41) / NT$164.41
91.2%

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

Current Discount
Amount off the current price WINSON Machinery is available for.
Intrinsic value
>50%
Share price is NT$14.5 vs Future cash flow value of NT$164.41
Current Discount Checks
For WINSON Machinery to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • WINSON Machinery's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • WINSON Machinery'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 WINSON Machinery's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are WINSON Machinery's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:4538 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$0.97
GTSM:4538 Share Price ** GTSM (2020-04-01) in TWD NT$14.5
Taiwan, Province of China Metals and Mining Industry PE Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 18.75x
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 WINSON Machinery.

GTSM:4538 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:4538 Share Price ÷ EPS (both in TWD)

= 14.5 ÷ 0.97

14.95x

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

  • WINSON Machinery is good value based on earnings compared to the TW Metals and Mining industry average.
  • WINSON Machinery is overvalued based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does WINSON Machinery's expected growth come at a high price?
Raw Data
GTSM:4538 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Taiwan, Province of China Metals and Mining Industry PEG Ratio Median Figure of 5 Publicly-Listed Metals and Mining Companies 1.37x
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 WINSON Machinery, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on WINSON Machinery's assets?
Raw Data
GTSM:4538 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$14.16
GTSM:4538 Share Price * GTSM (2020-04-01) in TWD NT$14.5
Taiwan, Province of China Metals and Mining Industry PB Ratio Median Figure of 46 Publicly-Listed Metals and Mining Companies 0.85x
Taiwan, Province of China Market PB Ratio Median Figure of 1,961 Publicly-Listed Companies 1.17x
GTSM:4538 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:4538 Share Price ÷ Book Value per Share (both in TWD)

= 14.5 ÷ 14.16

1.02x

* Primary Listing of WINSON Machinery.

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

  • WINSON Machinery is overvalued based on assets compared to the TW Metals and Mining industry average.
X
Value checks
We assess WINSON Machinery'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 Metals and Mining 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 Metals and Mining industry average (and greater than 0)? (1 check)
  5. WINSON Machinery has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is WINSON Machinery 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 WINSON Machinery 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
27.8%
Expected Metals and Mining industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is WINSON Machinery expected to grow at an attractive rate?
  • Unable to compare WINSON Machinery's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare WINSON Machinery's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare WINSON Machinery's revenue growth to the Taiwan, Province of China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
GTSM:4538 Future Growth Rates Data Sources
Data Point Source Value (per year)
Taiwan, Province of China Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 27.8%
Taiwan, Province of China Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Taiwan, Province of China Market Earnings Growth Rate Market Cap Weighted Average 11%
Taiwan, Province of China Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
GTSM:4538 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
GTSM:4538 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 433 189 46
2019-09-30 508 173 57
2019-06-30 593 146 73
2019-03-31 639 130 73
2018-12-31 690 117 79
2018-09-30 684 76 72
2018-06-30 656 91 61
2018-03-31 637 72 64
2017-12-31 602 88 59
2017-09-30 553 118 55
2017-06-30 506 106 49
2017-03-31 460 113 41

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if WINSON Machinery is high growth as no earnings estimate data is available.
  • Unable to determine if WINSON Machinery is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
GTSM:4538 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 WINSON Machinery Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:4538 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 0.97
2019-09-30 1.24
2019-06-30 1.63
2019-03-31 1.70
2018-12-31 1.89
2018-09-30 1.72
2018-06-30 1.46
2018-03-31 1.53
2017-12-31 1.40
2017-09-30 1.22
2017-06-30 1.02
2017-03-31 0.85

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

Next steps:

  1. Examine whether WINSON Machinery is trading at WINSON Machinery'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. WINSON Machinery'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 Materials companies here
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess WINSON Machinery'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.
WINSON Machinery has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

Past Performance

  How has WINSON Machinery 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 WINSON Machinery's growth in the last year to its industry (Metals and Mining).
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.
  • WINSON Machinery's year on year earnings growth rate has been positive over the past 5 years.
  • WINSON Machinery's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • WINSON Machinery's 1-year earnings growth is negative, it can't be compared to the TW Metals and Mining industry average.
Earnings and Revenue History
WINSON Machinery'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 WINSON Machinery Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:4538 Past Revenue, Cash Flow and Net Income Data
Date (Data in TWD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 433.35 46.02 34.61 9.90
2019-09-30 508.01 56.88 17.76 9.79
2019-06-30 592.90 72.76 20.98 10.04
2019-03-31 638.73 73.21 22.40 10.71
2018-12-31 689.55 79.23 24.35 10.65
2018-09-30 684.09 72.22 22.87 9.17
2018-06-30 655.58 61.42 21.09 8.23
2018-03-31 636.63 64.32 24.15 6.54
2017-12-31 602.16 58.98 18.87 7.45
2017-09-30 552.73 54.55 37.94 7.94
2017-06-30 505.99 48.81 38.84 8.17
2017-03-31 459.61 40.60 33.54 10.09
2016-12-31 434.99 39.97 36.94 10.95
2016-09-30 418.77 35.37 35.61 10.25
2016-06-30 402.55 30.76 34.27 9.55
2016-03-31 425.48 29.16 34.63 7.66
2015-12-31 448.42 27.56 34.99 5.76
2015-09-30 472.40 30.84 35.85 5.38
2015-06-30 496.39 34.11 36.72 5.00
2015-03-31 500.49 36.89 36.82 4.60
2014-12-31 504.60 39.68 36.92 4.20
2014-09-30 493.95 42.03 35.09 3.76
2014-06-30 483.31 44.39 33.25 3.31
2014-03-31 445.31 37.74 33.35 3.26
2013-12-31 407.31 31.10 33.45 3.21
2013-09-30 392.51 20.48 34.86 3.24
2013-06-30 377.71 9.86 36.28 3.27

*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.
  • WINSON Machinery has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • WINSON Machinery used its assets more efficiently than the TW Metals and Mining industry average last year based on Return on Assets.
  • WINSON Machinery's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess WINSON Machinery'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 Metals and Mining 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.
WINSON Machinery has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

Health

 How is WINSON Machinery'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 WINSON Machinery's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • WINSON Machinery is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • WINSON Machinery's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of WINSON Machinery'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.
  • WINSON Machinery has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from WINSON Machinery Company Filings, last reported 3 months ago.

GTSM:4538 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 677.55 0.00 181.25
2019-09-30 663.52 0.00 136.63
2019-06-30 652.96 0.00 151.43
2019-03-31 695.13 0.00 110.47
2018-12-31 589.34 0.00 61.12
2018-09-30 564.84 0.00 90.72
2018-06-30 538.41 0.00 78.28
2018-03-31 581.81 0.00 57.85
2017-12-31 564.29 40.00 64.60
2017-09-30
2017-06-30 534.64 15.00 62.06
2017-03-31 526.62 159.22 10.71
2016-12-31 526.62 15.00 10.71
2016-09-30 526.62 15.00 10.71
2016-06-30 596.64 6.00 100.42
2016-03-31 596.64 6.00 100.42
2015-12-31 601.97 0.00 79.44
2015-09-30 601.97 0.00 79.44
2015-06-30 591.29 0.00 37.72
2015-03-31 591.29 0.00 37.72
2014-12-31 607.47 0.00 17.75
2014-09-30 607.47 0.00 17.75
2014-06-30 678.94 0.00 143.59
2014-03-31 678.94 0.00 143.59
2013-12-31 728.39 0.00 134.45
2013-09-30 728.39 0.00 134.45
2013-06-30 711.81 0.00 141.01
  • WINSON Machinery has no debt.
  • WINSON Machinery had no debt 5 years ago.
  • WINSON Machinery has no debt, it does not need to be covered by operating cash flow.
  • WINSON Machinery has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess WINSON Machinery'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. WINSON Machinery has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is WINSON Machinery'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
8.28%
Current annual income from WINSON Machinery dividends.
If you bought NT$2,000 of WINSON Machinery shares you are expected to receive NT$166 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?
  • WINSON Machinery's pays a higher dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.25%).
  • WINSON Machinery's dividend is above the markets top 25% of dividend payers in Taiwan, Province of China (7.04%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
GTSM:4538 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 Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 4.1%
Taiwan, Province of China Market Average Dividend Yield Market Cap Weighted Average of 1330 Stocks 4.6%
Taiwan, Province of China Minimum Threshold Dividend Yield 10th Percentile 1.8%
Taiwan, Province of China Bottom 25% Dividend Yield 25th Percentile 3.2%
Taiwan, Province of China Top 25% Dividend Yield 75th Percentile 7%

Industry and Market average data is calculated daily.

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

GTSM:4538 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2019-05-15 1.200 7.139
2019-03-29 1.200 6.206
2019-03-19 1.200 6.149
2018-04-09 1.400 6.479
2017-04-05 0.500 2.518
2016-04-21 0.607 3.229
2015-04-28 0.789 4.336
2014-08-11 1.714 8.904
2014-04-09 1.714 8.411
2013-04-03 0.857 4.235

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

  • WINSON Machinery has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but WINSON Machinery only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of WINSON Machinery's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x 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 WINSON Machinery'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 WINSON Machinery afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. WINSON Machinery 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.

Management

 What is the CEO of WINSON Machinery'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
Spencer Hsieh
CEO Bio

Shun-Ming Hsieh, also known as Spencer, serves as Chief Executive Officer and General Manager of Winson Machinery Casting Co. Ltd. Shun-Ming Hsieh served as Chairman and President of Winson Machinary Co., Ltd. Shun-Ming Hsieh served as General Manager of John Ford Machinary Co., Ltd. Shun-Ming Hsieh holds B.S. in Mechanical Engineering from Feng Chia University.

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

Silas Xie

TITLE
Chairman & CFO

Spencer Hsieh

TITLE
CEO & GM

Jomin Teng

TITLE
Marketing Director & Manager of Marketing

Yi Xie

TITLE
GM, Research & Development Head and Director
TENURE
3.3 yrs
Board of Directors

Silas Xie

TITLE
Chairman & CFO

Yi Xie

TITLE
GM, Research & Development Head and Director

Li Yang

TITLE
Director

Yi Jian

TITLE
Independent Director

Qing Wang

TITLE
Independent Director

Zhi Zhang

TITLE
Independent Director

Jin Huang

TITLE
Director

Wei Cong Xie

TITLE
Supervisor

Xin Ci Zheng

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 WINSON Machinery'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. WINSON Machinery has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

News

Simply Wall St News

Company Info

Description

WINSON Machinery Co., LTD. produces and sells machine tool, wind power, ductile iron, and grey iron castings in Taiwan. Its products include beds for grinding M/C, heads for vertical milling M/C, beds for milling M/C, beams for vertical milling M/C, tables for double column milling M/C, beds for slant lathe, beds for lathe M/C, beds for vertical lathe, and beds for CNC lathe, as well as beams, columns, tables, and beds. The company was founded in 1980 and is based in Changhua County, Taiwan.

Details
Name: WINSON Machinery Co., LTD.
4538
Exchange: GTSM
Founded: 1980
NT$690,200,000
47,600,000
Website: http://www.wsmc.com.tw
Address: WINSON Machinery Co., LTD.
No. 23, Lugong South 6th Road,
Lugang Town,
Changhua County,
505,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 4538 Common Stock Taipei Exchange TW TWD 28. May 2012
Number of employees
Current staff
Staff numbers
152
WINSON Machinery employees.
Industry
Steel
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 17:26
End of day share price update: 2020/04/01 00:00
Last earnings filing: 2020/03/22
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.