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Key Info

Cheng Uei Precision Industry Co Ltd Web - www.foxlink.com.tw

Tel - 886-2-2269-9888

Next Reporting Date - 15.05.2019

Select Equity Data Snapshot

Cheng Uei Precision Industry Co

Technology Hardware & Equip


DCF Model Assumptions

Risk Free Rate

2.00%

Country Equity Risk Premium

6.00%

Cost of Debt

3.48%

Cost of Debt

3.48%

Long Term Growth

2.00%

Beta Assumption

1.32

Current Market Cap mln$

645.28

Net Debt mln$

519.09

WACC Estimate

7.05%

Ordinary Current Price $

1.26

DCF Model

DCF20152016201720182019F2020F2021F2022F2023F2024F2025F2026F2027F2028F2029F
Revenue3409.332808.683077.852917.732754.162646.902539.672436.132330.382233.522140.692051.711966.431884.701806.37
EBITDA Costs3285.202679.682946.762813.622634.542528.172421.822319.132214.252118.532026.941939.321855.481775.271698.52
EBITDA124.13129.00131.10104.12119.62118.74117.85117.00116.13114.99113.74112.39110.96109.44107.85
EBITDA Margin3.644.594.263.574.344.494.644.804.985.155.315.485.645.815.97
Operating Costs3400.062798.913051.522913.532743.192636.452529.732426.692321.442225.032132.632044.071959.181877.821799.84
Operating Profit9.269.7726.334.2010.9610.459.949.458.948.498.067.657.256.886.53
Operating Margin0.270.350.860.140.400.390.390.390.380.380.380.370.370.370.36
Pretax Costs3319.592767.693037.272888.422731.552634.172536.812442.812346.792258.142172.842090.762011.781935.791862.66
PTP89.7340.9840.5829.3122.6012.732.86-6.67-16.41-24.62-32.15-39.05-45.35-51.08-56.30
Pretax Margin2.631.461.321.000.820.480.11-0.27-0.70-1.10-1.50-1.90-2.31-2.71-3.12
Net Income Costs3357.352784.073033.982897.552734.742633.132531.542433.442333.252241.092152.562067.531985.861907.421832.07
Net Income51.9824.6043.8720.1819.4213.788.142.69- .87-7.57-11.87-15.82-19.43-22.72-25.71
Net Margin1.520.881.430.690.710.520.320.11-0.12-0.34-0.55-0.77-0.99-1.21-1.42
Revenue Less Capex3587.112942.683185.283096.452890.732778.852667.002558.992448.682347.582250.662157.742068.651983.251901.37
Capex-177.78-134.00-107.42-178.72-136.58-131.95-127.32-122.86-118.30-114.06-109.97-106.03-102.22-98.54-95.00
Capex to Revenues-5.21-4.77-3.49-6.13-4.96-4.99-5.01-5.04-5.08-5.11-5.14-5.17-5.20-5.23-5.26
Revenue less FCF3454.672684.042997.142967.902671.592544.582417.602295.002169.762057.531951.101850.171754.471663.711577.65
FCF-45.34124.6380.71-50.1682.57102.32122.07141.14160.61175.99189.59201.54211.97220.99228.71
FCF to Revenue-1.334.442.62-1.723.003.874.815.796.897.888.869.8210.7811.7312.66

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PE RATIO
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2019
EV/EBITDA
2020
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DIVIDEND YIELD
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2019
P/B
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ROE
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6 month return
2019
HHPD LIHon Hai Precision Industry Co LtdTAIWAN 39786.78------#????!--18.27
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2308 TTDelta Electronics IncTAIWAN 13519.2520.0617.4812.3710.871.643.2412.622.9914.8832.77
2382 TTQuanta Computer IncTAIWAN 7369.2814.6512.7111.149.680.226.202.341.6311.2124.46
2474 TTCatcher Technology Co LtdTAIWAN 6277.7210.199.263.773.202.214.6937.881.2111.25-14.69
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2301 TTLite-On Technology CorpTAIWAN 3418.6313.1412.185.154.530.546.148.071.4210.9127.94
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2409 TTAU Optronics CorpTAIWAN 3376.66--4.774.610.371.8510.030.53-2.81-5.47
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2356 TTInventec CorpTAIWAN 2853.7412.8611.187.937.410.176.312.411.5612.32-1.04
2324 TTCompal Electronics IncTAIWAN 2828.8410.179.306.966.600.096.091.710.797.7418.70
CEIR LICompal Electronics IncTAIWAN 2732.43------#????!--0.00
3231 TTWistron CorpTAIWAN 2320.5712.7511.095.415.130.085.772.271.008.0839.01
3702 TTWPG Holdings LtdTAIWAN 2196.2110.139.2412.4211.140.127.002.001.2312.0312.08
2353 TTAcer IncTAIWAN 2117.9017.9916.727.556.850.273.822.351.076.21-2.99
ACID LIAcer IncTAIWAN 2078.66------#????!---1.17
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3037 TTUnimicron Technology CorpTAIWAN 1754.2621.8116.645.544.860.682.6114.691.235.67127.18
3044 TTTripod Technology CorpTAIWAN 1685.8510.249.354.454.070.966.1217.331.5015.1937.47
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2498 TTHTC CorpTAIWAN 1090.87----1.690.00-42.150.86-20.3632.52
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International Comparables

tickercompanycountry Market Cap
2019
PE RATIO
2019
PE RATIO
2020
EV/EBITDA
2019
EV/EBITDA
2020
P/S
2019
DIVIDEND YIELD
2019
EBITDA Margin
2019
P/B
2019
ROE
2019
6 month return
2019
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GLW USCorning IncUNITED STATES 26351.9416.5714.948.758.242.162.3730.302.1413.6910.60
005935 KSSamsung Electronics Co LtdSOUTH KOREA 25831.48-8.12---4.14#????!0.9611.917.36
SMSD LISamsung Electronics Co LtdSOUTH KOREA 25542.40------#????!--6.60
6971 JPKyocera CorpJAPAN 24278.6222.8118.12-9.291.402.159.771.044.4927.39
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