Monthly Archives: March 2024

A Look At The Fair Value Of Powertech Technology Inc. (TWSE:6239) – Simply Wall St

Posted: March 31, 2024 at 5:51 am

Key Insights

Does the March share price for Powertech Technology Inc. (TWSE:6239) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by estimating the company's future cash flows and discounting them to their present value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Believe it or not, it's not too difficult to follow, as you'll see from our example!

Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model.

View our latest analysis for Powertech Technology

We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate:

("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF) = NT$70b

We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 0.8%. We discount the terminal cash flows to today's value at a cost of equity of 8.8%.

Terminal Value (TV)= FCF2033 (1 + g) (r g) = NT$11b (1 + 0.8%) (8.8% 0.8%) = NT$142b

Present Value of Terminal Value (PVTV)= TV / (1 + r)10= NT$142b ( 1 + 8.8%)10= NT$61b

The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is NT$131b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of NT$201, the company appears around fair value at the time of writing. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.

The calculation above is very dependent on two assumptions. The first is the discount rate and the other is the cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Powertech Technology as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.8%, which is based on a levered beta of 1.458. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Whilst important, the DCF calculation is only one of many factors that you need to assess for a company. The DCF model is not a perfect stock valuation tool. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For Powertech Technology, we've put together three important elements you should consider:

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the TWSE every day. If you want to find the calculation for other stocks just search here.

Find out whether Powertech Technology is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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A Look At The Fair Value Of Powertech Technology Inc. (TWSE:6239) - Simply Wall St

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Weaver Network Technology Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag – Simply Wall St

Posted: at 5:51 am

Key Financial Results

All figures shown in the chart above are for the trailing 12 month (TTM) period

Revenue missed analyst estimates by 5.8%. Earnings per share (EPS) exceeded analyst estimates by 29%.

Looking ahead, revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Software industry in China.

Performance of the Chinese Software industry.

The company's shares are down 9.0% from a week ago.

Before you take the next step you should know about the 1 warning sign for Weaver Network Technology that we have uncovered.

Find out whether Weaver Network Technology is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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Weaver Network Technology Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag - Simply Wall St

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New York City will introduce controversial AI gun detection technology amid subway crime crisis – SiliconANGLE News

Posted: at 5:51 am

After what has been described as a spate of lawlessness on the subways of New York City this year, Mayor Eric Adams saidtodaythat artificial intelligence will be drafted to help cut down on the number of violent crimes.

Adams reportedly has spent some time looking around the world for the perfect AI system to detect guns, which will translate to a 90-day pilot program soon. This year has seen shootings and other acts of gun violence and general madness that are reminiscent of times past when the city was renowned as a leader in violent crime.

The increase in acts of violence has been quite dramatic, leading to the city deploying hundreds of National Guards. Many New Yorkers have said they dont feel safe, some writing in the comments section of a New York Times article that the reported crimes are only the tip of the iceberg. The feeling among many is something needs to be done to make the subway safer,

Adams, who accepts there is a problem, is known to be a fan of technology, which might have inspired him to take this latest step toward AI. Would I prefer us not having to walk through this to come on our system? he said. Youre darn right I do. But we have to live life the way it is and work to make it what it ought to be.

The company he chose is Evolv Technologies Inc., a Massachusetts-based weapons detection firm that has been deploying its systems in schools and venues across the U.S. for quite some time now. Not only is the presence of such systems quite dystopian and depressing for some Americans, but Evolv has taken flak in the past for its technology either not working or giving false positives. Still, the company claims its software detects around 400 guns a day across the U.S.

At an investor conference in 2022, Evolvs Chief Executive Peter George was asked if his companys technology would have saved lives in the Uvalde school shooting. The answer is when somebody goes through our system, and they have a concealed weapon or an open carry weapon, were gonna find it, period, he replied. We wont miss it. The Federal Trade Commission has since begun aprobeinto such claims.

The company says its machines might look like metal detectors, but it has explained that the AI scanners use safe, ultra-low frequency, electromagnetic fields, and advanced sensors to detect concealed weapons. The software detects signatures for what Evolv says are all the guns, all the bombs, and all the large tactical knives in the world.

There are plenty of critics of such surveillance, but Adams here is in a tight spot. The pilot will run in accordance with the Public Oversight of Surveillance Technology Act, which asks that the New York City Police Department publish the impact of surveillance technologies.

THANK YOU

New York City will introduce controversial AI gun detection technology amid subway crime crisis - SiliconANGLE News

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Earnings Not Telling The Story For Beijing CTJ Information Technology Co., Ltd. (SZSE:301153) – Simply Wall St

Posted: at 5:51 am

With a price-to-earnings (or "P/E") ratio of 42.7x Beijing CTJ Information Technology Co., Ltd. (SZSE:301153) may be sending bearish signals at the moment, given that almost half of all companies in China have P/E ratios under 30x and even P/E's lower than 18x are not unusual. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the elevated P/E.

With earnings growth that's superior to most other companies of late, Beijing CTJ Information Technology has been doing relatively well. It seems that many are expecting the strong earnings performance to persist, which has raised the P/E. If not, then existing shareholders might be a little nervous about the viability of the share price.

Check out our latest analysis for Beijing CTJ Information Technology

In order to justify its P/E ratio, Beijing CTJ Information Technology would need to produce impressive growth in excess of the market.

Retrospectively, the last year delivered a decent 3.8% gain to the company's bottom line. The latest three year period has also seen an excellent 80% overall rise in EPS, aided somewhat by its short-term performance. Therefore, it's fair to say the earnings growth recently has been superb for the company.

Looking ahead now, EPS is anticipated to climb by 25% during the coming year according to the four analysts following the company. With the market predicted to deliver 38% growth , the company is positioned for a weaker earnings result.

In light of this, it's alarming that Beijing CTJ Information Technology's P/E sits above the majority of other companies. Apparently many investors in the company are way more bullish than analysts indicate and aren't willing to let go of their stock at any price. There's a good chance these shareholders are setting themselves up for future disappointment if the P/E falls to levels more in line with the growth outlook.

Using the price-to-earnings ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.

We've established that Beijing CTJ Information Technology currently trades on a much higher than expected P/E since its forecast growth is lower than the wider market. When we see a weak earnings outlook with slower than market growth, we suspect the share price is at risk of declining, sending the high P/E lower. Unless these conditions improve markedly, it's very challenging to accept these prices as being reasonable.

Many other vital risk factors can be found on the company's balance sheet. Our free balance sheet analysis for Beijing CTJ Information Technology with six simple checks will allow you to discover any risks that could be an issue.

Of course, you might also be able to find a better stock than Beijing CTJ Information Technology. So you may wish to see this free collection of other companies that have reasonable P/E ratios and have grown earnings strongly.

Find out whether Beijing CTJ Information Technology is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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Earnings Not Telling The Story For Beijing CTJ Information Technology Co., Ltd. (SZSE:301153) - Simply Wall St

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Vontron Technology Full Year 2023 Earnings: EPS: CN0.35 (vs CN0.34 in FY 2022) – Simply Wall St

Posted: at 5:51 am

Key Financial Results

All figures shown in the chart above are for the trailing 12 month (TTM) period

Vontron Technology shares are down 5.2% from a week ago.

It is worth noting though that we have found 1 warning sign for Vontron Technology that you need to take into consideration.

Find out whether Vontron Technology is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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Vontron Technology Full Year 2023 Earnings: EPS: CN0.35 (vs CN0.34 in FY 2022) - Simply Wall St

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Huawei Revenue Rises as Technology Giant Commits to Growth – Technology Magazine

Posted: at 5:51 am

Growth is a key theme of Huaweis recently released 2023 Annual Report, which shows that the Chinese technology giant generated revenue of US$99.5 billion, with a profit of US$12.3 billion.

Putting that into context, that positions Huaweis annual revenue above the likes of Tesla (US$96.8 billion), Bank of America (US$98.6 billion), Dell (US$91.1 billion), and NTT (US$93.8 billion).

The company said that 2023 performance was in line with expectations, and that its ICT infrastructure business remained solid, while the consumer business met expectations.

Cloud computing and digital power businesses grew steadily, and the intelligent automotive solution business began large-scale delivery.

Research and innovation are cornerstones of Huaweis long-term growth strategy and the company invested 23.4% (US$23.3 billion) of its annual revenue into R&D in 2023. In total, R&D investment in the past decade has reached US$157 billion.

The company's performance in 2023 was in line with forecast, said Ken Hu, Huawei's Rotating Chairman.

We've been through a lot over the past few years. But through one challenge after another, we've managed to grow. The trust and support of our customers, partners, and friends around the world is what helped us keep going, keep surviving, and keep growing.

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Huawei Revenue Rises as Technology Giant Commits to Growth - Technology Magazine

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USPACE Technology Group Limited (HKG:1725) May Have Run Too Fast Too Soon With Recent 28% Price Plummet – Simply Wall St

Posted: at 5:51 am

Unfortunately for some shareholders, the USPACE Technology Group Limited (HKG:1725) share price has dived 28% in the last thirty days, prolonging recent pain. For any long-term shareholders, the last month ends a year to forget by locking in a 85% share price decline.

Although its price has dipped substantially, you could still be forgiven for feeling indifferent about USPACE Technology Group's P/S ratio of 0.8x, since the median price-to-sales (or "P/S") ratio for the Electronic industry in Hong Kong is also close to 0.4x. While this might not raise any eyebrows, if the P/S ratio is not justified investors could be missing out on a potential opportunity or ignoring looming disappointment.

Check out our latest analysis for USPACE Technology Group

For instance, USPACE Technology Group's receding revenue in recent times would have to be some food for thought. Perhaps investors believe the recent revenue performance is enough to keep in line with the industry, which is keeping the P/S from dropping off. If you like the company, you'd at least be hoping this is the case so that you could potentially pick up some stock while it's not quite in favour.

The only time you'd be comfortable seeing a P/S like USPACE Technology Group's is when the company's growth is tracking the industry closely.

In reviewing the last year of financials, we were disheartened to see the company's revenues fell to the tune of 6.6%. Regardless, revenue has managed to lift by a handy 8.3% in aggregate from three years ago, thanks to the earlier period of growth. Accordingly, while they would have preferred to keep the run going, shareholders would be roughly satisfied with the medium-term rates of revenue growth.

Comparing the recent medium-term revenue trends against the industry's one-year growth forecast of 18% shows it's noticeably less attractive.

With this in mind, we find it intriguing that USPACE Technology Group's P/S is comparable to that of its industry peers. Apparently many investors in the company are less bearish than recent times would indicate and aren't willing to let go of their stock right now. Maintaining these prices will be difficult to achieve as a continuation of recent revenue trends is likely to weigh down the shares eventually.

Following USPACE Technology Group's share price tumble, its P/S is just clinging on to the industry median P/S. We'd say the price-to-sales ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.

Our examination of USPACE Technology Group revealed its poor three-year revenue trends aren't resulting in a lower P/S as per our expectations, given they look worse than current industry outlook. Right now we are uncomfortable with the P/S as this revenue performance isn't likely to support a more positive sentiment for long. If recent medium-term revenue trends continue, the probability of a share price decline will become quite substantial, placing shareholders at risk.

Having said that, be aware USPACE Technology Group is showing 4 warning signs in our investment analysis, and 1 of those is a bit unpleasant.

Of course, profitable companies with a history of great earnings growth are generally safer bets. So you may wish to see this free collection of other companies that have reasonable P/E ratios and have grown earnings strongly.

Find out whether USPACE Technology Group is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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USPACE Technology Group Limited (HKG:1725) May Have Run Too Fast Too Soon With Recent 28% Price Plummet - Simply Wall St

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Shenzhen Fortune Trend technology Full Year 2023 Earnings: Beats Expectations – Simply Wall St

Posted: at 5:51 am

Key Financial Results

All figures shown in the chart above are for the trailing 12 month (TTM) period

Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) also surpassed analyst estimates by 1.7%.

Looking ahead, revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 22% growth forecast for the Software industry in China.

Performance of the Chinese Software industry.

The company's shares are down 7.3% from a week ago.

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Shenzhen Fortune Trend technology's balance sheet.

Find out whether Shenzhen Fortune Trend technology is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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Shenzhen Fortune Trend technology Full Year 2023 Earnings: Beats Expectations - Simply Wall St

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NYC to test gun-detecting technology in subway system – SILive.com

Posted: at 5:51 am

NYC to test gun-detecting technology in subway system SILive.com

Cancer Treatment: 3D Printing and Scanning Technology – Surviving Mesothelioma

Posted: at 5:51 am

Cancer treatment has made significant strides in recent years, thanks to technology advancements. One such advancement is the use of 3D printing and scanning technology. These technologies are enhancing the accuracy and effectiveness of cancer treatments. This includes photodynamic therapy (PDT) for malignant pleural mesothelioma and other cancers.

Understanding Photodynamic Therapy (PDT)

PDT is a promising treatment for mesothelioma and other cancers. It involves the use of a photosensitizing agent that is activated by light to kill cancer cells. But, delivering the right dose of light to the tumor can be challenging, especially in cases where the anatomy has been altered by surgery.

The Role of 3D Printing

3D printing has emerged as a valuable tool in cancer treatment planning. We can now create precise, patient-specific 3D models of the affected area. Doctors can understand the anatomical changes and plan the optimal treatment strategy better. In the case of mesothelioma, 3D printing can help create models of the pleural cavity, allowing for more accurate PDT dosing.

The process starts with obtaining detailed imaging, such as CT scans, of the affected area. These images are then used to create a digital 3D model, which is then printed using specialized materials. These 3D models accurately replicate the patients anatomy. This includes any post-surgical changes. It provides doctors with a clear view of the affected area.

By using 3D models, doctors can better visualize the tumor and surrounding tissues. This helps them to plan the PDT delivery more accurately. This precision ensures that the right amount of light is delivered to the tumor. It also maximizes treatment effectiveness while minimizing damage to surrounding healthy tissue.

Validation studies have confirmed the potential of this technology in improving cancer treatment outcomes. The use of 3D printing and scanning can also be applied to surgery planning and radiation therapy.

3D printing and scanning technology are revolutionizing cancer treatment by providing doctors with a more accurate and personalized approach. For mesothelioma, this technology offers new hope for improved treatment outcomes. As technology continues to advance, we can expect further innovations that will continue to enhance cancer treatment and improve patient outcomes.

Source:

Sourvanos, Dennis, Hongjin Sun, Timothy C. Zhu, Andreea Dimofte, Weibing Yang, Theresa M. Busch, Keith A. Cengel, Brook Byrd, Rodrigo Neiva, and Joseph P. Fiorellini. Enhanced Photodynamic Therapy Delivery for Malignant Pleural Mesothelioma Using 3D-Printed Models and Optical Scanning Technology. In Optical Methods for Tumor Treatment and Detection: Mechanisms and Techniques in Photodynamic Therapy XXXII, 12823:4554. SPIE, 2024. https://doi.org/10.1117/12.3005184.

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Cancer Treatment: 3D Printing and Scanning Technology - Surviving Mesothelioma

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Monthly Archives: March 2024

A Look At The Fair Value Of Powertech Technology Inc. (TWSE:6239) – Simply Wall St

Weaver Network Technology Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag – Simply Wall St

New York City will introduce controversial AI gun detection technology amid subway crime crisis – SiliconANGLE News

Earnings Not Telling The Story For Beijing CTJ Information Technology Co., Ltd. (SZSE:301153) – Simply Wall St

Vontron Technology Full Year 2023 Earnings: EPS: CN0.35 (vs CN0.34 in FY 2022) – Simply Wall St

Huawei Revenue Rises as Technology Giant Commits to Growth – Technology Magazine

Shenzhen Fortune Trend technology Full Year 2023 Earnings: Beats Expectations – Simply Wall St

NYC to test gun-detecting technology in subway system – SILive.com

Cancer Treatment: 3D Printing and Scanning Technology – Surviving Mesothelioma

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