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Forcecon Technology

GTSM:3483
Snowflake Description

Flawless balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3483
GTSM
NT$3B
Market Cap
  1. Home
  2. TW
  3. Tech
Company description

Forcecon Technology Co., Ltd. engages in the research, development, production, and sale of thermal management products in Taiwan and internationally. The last earnings update was 14 days ago. More info.


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  • Forcecon Technology has significant price volatility in the past 3 months.
3483 Share Price and Events
7 Day Returns
30.8%
GTSM:3483
11%
TW Tech
8.4%
TW Market
1 Year Returns
-10.9%
GTSM:3483
-6.6%
TW Tech
-10.6%
TW Market
3483 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Forcecon Technology (3483) 30.8% -15.8% -32.8% -10.9% 79.3% 197.2%
TW Tech 11% -10.8% -14.3% -6.6% -19.5% -24.3%
TW Market 8.4% -14.9% -19.9% -10.6% -3.9% -0.8%
1 Year Return vs Industry and Market
  • 3483 underperformed the Tech industry which returned -6.6% over the past year.
  • 3483 matched the Taiwan, Province of China Market (-10.6%) over the past year.
Price Volatility
3483
Industry
5yr Volatility vs Market

Value

 Is Forcecon 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 Forcecon 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 Forcecon Technology.

GTSM:3483 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 8.8%
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:3483
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year TW Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Tech Unlevered Beta Simply Wall St/ S&P Global 1.19
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.188 (1 + (1- 20%) (27.41%))
1.301
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.3
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.71% + (1.301 * 6.21%)
8.79%

Discounted Cash Flow Calculation for GTSM:3483 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Forcecon 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.

GTSM:3483 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (TWD, Millions) Source Present Value
Discounted (@ 8.79%)
2020 417.73 Est @ 66.97% 383.99
2021 614.46 Est @ 47.09% 519.21
2022 818.32 Est @ 33.18% 635.62
2023 1,010.12 Est @ 23.44% 721.23
2024 1,178.00 Est @ 16.62% 773.16
2025 1,317.56 Est @ 11.85% 794.90
2026 1,429.62 Est @ 8.51% 792.85
2027 1,517.79 Est @ 6.17% 773.76
2028 1,586.54 Est @ 4.53% 743.48
2029 1,640.23 Est @ 3.38% 706.56
Present value of next 10 years cash flows NT$6,844.00
GTSM:3483 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NT$1,640.23 × (1 + 0.71%) ÷ (8.79% – 0.71%)
NT$20,452.39
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NT$20,452.39 ÷ (1 + 8.79%)10
NT$8,810.22
GTSM:3483 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NT$6,844.00 + NT$8,810.22
NT$15,654.22
Equity Value per Share
(TWD)
= Total value / Shares Outstanding
= NT$15,654.22 / 61.03
NT$256.51
GTSM:3483 Discount to Share Price
Calculation Result
Value per share (TWD) From above. NT$256.51
Current discount Discount to share price of NT$46.90
= -1 x (NT$46.90 - NT$256.51) / NT$256.51
81.7%

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

Current Discount
Amount off the current price Forcecon Technology is available for.
Intrinsic value
>50%
Share price is NT$46.9 vs Future cash flow value of NT$256.51
Current Discount Checks
For Forcecon Technology to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Forcecon Technology's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Forcecon Technology'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 Forcecon Technology's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Forcecon Technology's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
GTSM:3483 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in TWD NT$3.11
GTSM:3483 Share Price ** GTSM (2020-03-31) in TWD NT$46.9
Taiwan, Province of China Tech Industry PE Ratio Median Figure of 84 Publicly-Listed Tech Companies 12.72x
Taiwan, Province of China Market PE Ratio Median Figure of 1,466 Publicly-Listed Companies 13.66x

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

** Primary Listing of Forcecon Technology.

GTSM:3483 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= GTSM:3483 Share Price ÷ EPS (both in TWD)

= 46.9 ÷ 3.11

15.08x

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

  • Forcecon Technology is overvalued based on earnings compared to the TW Tech industry average.
  • Forcecon Technology is overvalued based on earnings compared to the Taiwan, Province of China market.
Price based on expected Growth
Does Forcecon Technology's expected growth come at a high price?
Raw Data
GTSM:3483 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.08x
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 Tech Industry PEG Ratio Median Figure of 19 Publicly-Listed Tech Companies 0.89x
Taiwan, Province of China Market PEG Ratio Median Figure of 196 Publicly-Listed Companies 1.01x

*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 Forcecon Technology, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Forcecon Technology's assets?
Raw Data
GTSM:3483 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in TWD NT$35.86
GTSM:3483 Share Price * GTSM (2020-03-31) in TWD NT$46.9
Taiwan, Province of China Tech Industry PB Ratio Median Figure of 108 Publicly-Listed Tech Companies 0.99x
Taiwan, Province of China Market PB Ratio Median Figure of 1,963 Publicly-Listed Companies 1.16x
GTSM:3483 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= GTSM:3483 Share Price ÷ Book Value per Share (both in TWD)

= 46.9 ÷ 35.86

1.31x

* Primary Listing of Forcecon Technology.

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

  • Forcecon Technology is overvalued based on assets compared to the TW Tech industry average.
X
Value checks
We assess Forcecon 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 Tech 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 Tech industry average (and greater than 0)? (1 check)
  5. Forcecon Technology has a total score of 2/6, see the detailed checks below.

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

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

Future Performance

 How is Forcecon Technology 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 Forcecon Technology 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
8.5%
Expected Tech industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Forcecon Technology expected to grow at an attractive rate?
  • Unable to compare Forcecon Technology's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Forcecon Technology's earnings growth to the Taiwan, Province of China market average as no estimate data is available.
  • Unable to compare Forcecon Technology's revenue growth to the Taiwan, Province of China market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
GTSM:3483 Future Growth Rates Data Sources
Data Point Source Value (per year)
Taiwan, Province of China Tech Industry Earnings Growth Rate Market Cap Weighted Average 8.5%
Taiwan, Province of China Tech Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
Taiwan, Province of China Market Earnings Growth Rate Market Cap Weighted Average 11.2%
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:3483 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:3483 Future Estimates Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
GTSM:3483 Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-12-31 4,831 509 175
2019-09-30 4,772 345 147
2019-06-30 4,619 269 107
2019-03-31 4,475 70 80
2018-12-31 4,374 20 42
2018-09-30 4,246 -34 46
2018-06-30 4,082 -27 6
2018-03-31 3,918 140 -28
2017-12-31 3,901 86 6
2017-09-30 3,793 128 47
2017-06-30 3,692 143 59
2017-03-31 3,658 198 112

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Forcecon Technology is high growth as no earnings estimate data is available.
  • Unable to determine if Forcecon Technology 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:3483 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 Forcecon Technology Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:3483 Future Estimates Data
Date (Data in TWD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
GTSM:3483 Past Financials Data
Date (Data in TWD Millions) EPS *
2019-12-31 3.11
2019-09-30 2.61
2019-06-30 1.90
2019-03-31 1.43
2018-12-31 0.75
2018-09-30 0.82
2018-06-30 0.11
2018-03-31 -0.50
2017-12-31 0.11
2017-09-30 0.82
2017-06-30 1.04
2017-03-31 2.00

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

Next steps:

  1. Check out Forcecon Technology's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.
  2. Forcecon Technology'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 Tech 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 Forcecon 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.
Forcecon Technology 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 Forcecon 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 Forcecon Technology's growth in the last year to its industry (Tech).
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.
  • Forcecon Technology has delivered over 20% year on year earnings growth in the past 5 years.
  • Forcecon Technology's 1-year earnings growth exceeds its 5-year average (312.4% vs 44.2%)
  • Forcecon Technology's earnings growth has exceeded the TW Tech industry average in the past year (312.4% vs 2.9%).
Earnings and Revenue History
Forcecon 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 Forcecon Technology Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

GTSM:3483 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 4,830.68 175.13 351.93 349.65
2019-09-30 4,771.86 146.54 340.07 331.30
2019-06-30 4,619.40 106.64 317.88 318.90
2019-03-31 4,475.03 80.34 309.05 312.29
2018-12-31 4,373.67 42.47 312.19 301.45
2018-09-30 4,245.73 46.38 296.19 301.50
2018-06-30 4,082.22 6.12 285.88 305.89
2018-03-31 3,918.24 -28.42 271.00 308.69
2017-12-31 3,901.46 6.01 264.57 308.92
2017-09-30 3,793.04 47.04 280.34 302.27
2017-06-30 3,691.82 59.08 292.85 289.03
2017-03-31 3,658.03 112.42 296.29 276.74
2016-12-31 3,537.10 126.16 290.02 268.44
2016-09-30 3,436.18 94.15 264.68 255.31
2016-06-30 3,154.50 66.61 235.12 257.40
2016-03-31 2,860.66 -33.26 233.36 259.75
2015-12-31 2,752.44 -35.57 239.57 259.76
2015-09-30 2,696.84 -59.09 247.81 259.98
2015-06-30 2,787.78 -86.34 259.43 252.98
2015-03-31 3,043.68 -10.04 261.77 240.34
2014-12-31 3,033.33 6.42 255.09 232.21
2014-09-30 3,008.50 -6.93 257.61 228.33
2014-06-30 2,979.62 6.96 263.31 215.65
2014-03-31 2,890.87 -21.93 259.72 211.06
2013-12-31 2,884.03 -64.05 269.20 210.87
2013-09-30 2,880.66 -61.62 269.34 209.48
2013-06-30 3,069.58 -14.47 268.25 215.44

*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.
  • Forcecon Technology has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Forcecon Technology used its assets more efficiently than the TW Tech industry average last year based on Return on Assets.
  • Forcecon Technology has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Forcecon 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 Tech 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.
Forcecon Technology has a total score of 5/6, 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 Forcecon 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 Forcecon Technology's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Forcecon Technology is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Forcecon Technology's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Forcecon 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 4.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from Forcecon Technology Company Filings, last reported 3 months ago.

GTSM:3483 Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,039.64 766.54 617.05
2019-09-30 1,993.04 944.13 694.29
2019-06-30 1,908.48 954.26 518.10
2019-03-31 1,894.61 996.18 632.92
2018-12-31 1,886.97 827.47 442.70
2018-09-30 1,849.20 920.57 620.96
2018-06-30 1,827.63 669.04 479.23
2018-03-31 1,876.16 703.06 705.86
2017-12-31 1,917.45 701.83 614.20
2017-09-30 1,880.58 646.57 645.40
2017-06-30 1,840.68 674.29 680.45
2017-03-31 1,889.85 661.30 621.09
2016-12-31 1,970.31 730.37 736.24
2016-09-30 1,919.25 536.20 594.72
2016-06-30 1,898.58 578.92 628.01
2016-03-31 1,908.92 703.57 684.11
2015-12-31 1,930.61 605.66 650.48
2015-09-30 1,940.93 635.62 761.28
2015-06-30 1,888.03 706.48 886.83
2015-03-31 1,999.58 902.96 957.33
2014-12-31 2,023.67 765.78 769.79
2014-09-30 1,964.66 590.00 590.16
2014-06-30 1,953.56 673.12 815.63
2014-03-31 1,983.11 653.22 772.76
2013-12-31 1,984.60 513.32 649.69
2013-09-30 1,956.37 545.70 749.30
2013-06-30 1,976.86 752.95 1,063.32
  • Forcecon Technology's level of debt (37.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (37.9% vs 37.6% today).
  • Debt is well covered by operating cash flow (66.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.4x coverage).
X
Financial health checks
We assess Forcecon 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. Forcecon Technology 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 Forcecon 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
0.2%
Current annual income from Forcecon Technology dividends.
If you bought NT$2,000 of Forcecon Technology shares you are expected to receive NT$4 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?
  • Forcecon Technology's pays a lower dividend yield than the bottom 25% of dividend payers in Taiwan, Province of China (3.32%).
  • Forcecon Technology's dividend is below the markets top 25% of dividend payers in Taiwan, Province of China (7.13%).
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:3483 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 Tech Industry Average Dividend Yield Market Cap Weighted Average of 74 Stocks 5.5%
Taiwan, Province of China Market Average Dividend Yield Market Cap Weighted Average of 1331 Stocks 4.6%
Taiwan, Province of China Minimum Threshold Dividend Yield 10th Percentile 1.8%
Taiwan, Province of China Bottom 25% Dividend Yield 25th Percentile 3.3%
Taiwan, Province of China Top 25% Dividend Yield 75th Percentile 7.1%

Industry and Market average data is calculated daily.

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

GTSM:3483 Future Dividends Estimate Data
Date (Data in NT$) Dividend per Share (annual) Avg. No. Analysts
GTSM:3483 Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2019-03-26 0.094 0.202
2018-03-26 0.377 1.689
2017-03-30 0.772 3.385
2016-03-31 0.086 0.465
2015-03-20 0.129 1.135
2014-05-08 0.129 0.725
2013-03-22 1.029 5.691
2012-04-30 0.429 1.602
2012-04-02 0.429 1.691
2011-10-26 0.257 1.247
2011-08-26 0.257 1.375
2011-04-29 0.257 1.035
2010-08-30 3.389 9.733
2010-04-29 3.389 6.051
2009-10-30 2.523 3.415
2009-08-31 2.523 3.124

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

  • Forcecon Technology is not paying a notable dividend for Taiwan, Province of China, therefore no need to check if the payments are stable.
  • Forcecon Technology is not paying a notable dividend for Taiwan, Province of China, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Forcecon Technology's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Forcecon Technology's dividends as it is not paying a notable one for Taiwan, Province of China.
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 Forcecon Technology'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 Forcecon Technology afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Forcecon Technology has a total score of 0/6, 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 Forcecon 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.
  • Forcecon Technology has no CEO, or we have no data on them.
Management Team
Board of Directors
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NT$) Value (NT$)
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Management checks
We assess Forcecon 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. Forcecon 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.

News

Simply Wall St News

Company Info

Description

Forcecon Technology Co., Ltd. engages in the research, development, production, and sale of thermal management products in Taiwan and internationally. The company offers DC axial and blower fans, thermal module active and passive products, vapor chambers, and heat pipes for use in computers, VGA, LED lightings, servers, automobiles, smart-phones, and bio-technology science fields. It serves ODM and OEM customers. The company was founded in 1997 and is headquartered in Zhubei, Taiwan.

Details
Name: Forcecon Technology Co., Ltd.
3483
Exchange: GTSM
Founded: 1997
NT$2,862,183,184
61,027,360
Website: http://www.forcecon.com
Address: Forcecon Technology Co., Ltd.
No. 31, Xintai Road,
2nd Floor,
Zhubei,
30252,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
GTSM 3483 Common Stock Taipei Exchange TW TWD 28. Nov 2005
Number of employees
Current staff
Staff numbers
0
Forcecon Technology employees.
Industry
Technology Hardware, Storage and Peripherals
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 16:32
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2019/03/20
Last earnings filing: 2020/03/17
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.