E Ink Holdings

E Ink Holdings is a thin-film liquid crystal display (TFT-LCD) manufacturing company based in Taiwan. Co. is engaged in the development, manufacture, and sale of thin-film transistor liquid crystal display products. Co. offers TFT-LCD panels, which are primary parts/components to the electronics and information technology industries. These products are used in various applications, including consumer electronics, automobile display, and industrial display. Panels are designed for digital cameras, portable TVs, DVDs, GPS car navigation systems, portable TVs, entertainment and industrial products.
  • Ticker8069
  • ISINTW0008069006
  • ExchangeTaipei Exchange
  • SectorElectronic & Electrical Equipment
  • CountryChinese Taipei

E INK HOLDINGS INCO. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of E INK HOLDINGS INCO. (TW), a company active in the Electronic Equipment industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date October 15, 2019, the closing price was TWD 30.90 and its potential was estimated at TWD 36.32.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Will continue catching market attention

​Stock trading: The stock has had a great run this year as investors finally begin to appreciate its unique market position and increasingly expanded TAM in IoT. Meanwhile, corporate transparency has also improved, and therefore, we foresee its re-rating continuing, as even after a 50% rally this year, the share price is still only trading at less than 1x 2017F P/B, with a 30% 2017F net cash-to-market cap and an impressive FCF yield of around 10%. Earnings may see some downward revisions in the near-term due to severance, F/X losses, etc., but it does not change our long-term positive stance. ...

Vague guidance, but does not change our bullish stance

​As always, mgmt does not comment much on the company’s outlook, and its tone is very conservative as usual. Thus, its share price is likely to see some profit taking in the very near term (it has rallied 40% since early May), but we remain bullish in the long run.

Good seasonal uptick in 2Q

​1Q16 results were not bad, as AFFS royalty income grew YoY, GM held up well despite low seasonality, while losses from the discontinued Hydis also narrowed noticeably. Meanwhile, guidance on 2Q16F and 2016F remains largely unchanged and is in line with our expectations (in terms of revenue, GM, AFFS, etc.). Overall speaking, we still like the stock as its shares are still only trading at 0.6x 2016F P/B with ~40% net cash-to-market cap and an impressive FCF yield of close to 20%. We reiterate our BUY rating.

Will continue catching market attention

​Stock trading: The stock has had a great run this year as investors finally begin to appreciate its unique market position and increasingly expanded TAM in IoT. Meanwhile, corporate transparency has also improved, and therefore, we foresee its re-rating continuing, as even after a 50% rally this year, the share price is still only trading at less than 1x 2017F P/B, with a 30% 2017F net cash-to-market cap and an impressive FCF yield of around 10%. Earnings may see some downward revisions in the near-term due to severance, F/X losses, etc., but it does not change our long-term positive stance. ...

Vague guidance, but does not change our bullish stance

​As always, mgmt does not comment much on the company’s outlook, and its tone is very conservative as usual. Thus, its share price is likely to see some profit taking in the very near term (it has rallied 40% since early May), but we remain bullish in the long run.

Good seasonal uptick in 2Q

​1Q16 results were not bad, as AFFS royalty income grew YoY, GM held up well despite low seasonality, while losses from the discontinued Hydis also narrowed noticeably. Meanwhile, guidance on 2Q16F and 2016F remains largely unchanged and is in line with our expectations (in terms of revenue, GM, AFFS, etc.). Overall speaking, we still like the stock as its shares are still only trading at 0.6x 2016F P/B with ~40% net cash-to-market cap and an impressive FCF yield of close to 20%. We reiterate our BUY rating.

Check in your RIMOWA and prepare for take-off - 8069 TT; BUY

​The stock looks very cheap (especially on an FCF basis), and we believe it will see a re-rating once its new IoT gadgets contribute 30-50% of its top line (which should not take too long, in our view). Despite the recent rally, its shares are still only trading at 0.7x 2016F P/B with around 25% net cash-to-market cap and an impressive FCF yield of 15-20%.

E INK HOLDINGS INCO. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of E INK HOLDINGS INCO. (TW), a company active in the Electronic Equipment industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date October 15, 2019, the closing price was TWD 30.90 and its potential was estimated at TWD 36.32.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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