Fact based stock research
Primax Electronics (TSEC:4915)

TW0004915004

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Primax Electronics stock research in summary

primax.com.tw

ANALYSIS: With an Obermatt Combined Rank of 72 (better than 72% compared with investment alternatives), Primax Electronics (Electr. Manufacturing Services, Taiwan) shares have above-average financial characteristics compared with similar stocks. Shares of Primax Electronics are a good value (attractively priced) with a consolidated Value Rank of 83 (better than 83% of alternatives), show above-average growth (Growth Rank of 61) but are riskily financed (Safety Rank of 45), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 72, is a buy recommendation based on Primax Electronics's financial characteristics. As the company Primax Electronics's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 83) and above-average growth (Obermatt Growth Rank of 61), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 45) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	83
Growth Rank	61
Safety Rank	45
Combined Rank	72

Country	Taiwan
Industry	Electr. Manufacturing Services
Index	FTSE Taiwan
Size class	Large

19-Dec-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Primax Electronics

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	100	83	81	83
GROWTH
GROWTH	21	85	65	61
SAFETY
SAFETY	36	39	37	45
SENTIMENT
SENTIMENT	n/a	78	67	^new
360° VIEW
360° VIEW	n/a	99	85	^new

Most recent update of the stock research: 19-Dec-2024. Financial reporting date used for calculating ranks: 30-Sep-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Primax Electronics is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	100	83	81	83
GROWTH
GROWTH	21	85	65	61
SAFETY
SAFETY	36	39	37	45
COMBINED
COMBINED	62	96	65	72

Last update of combined financial performance: 19-Dec-2024. Stock analysis on combined financial performance: The higher the rank of Primax Electronics the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 83 (better than 83% compared with alternatives) for 2024, Primax Electronics shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for Primax Electronics. Price-to-Sales (P/S) is 72, which means that the stock price compared with what market professionals expect for future sales is lower than for 72% of comparable companies, indicating a good value concerning Primax Electronics's revenue size. The same is valid for expected Price-to-Profits (or Price / Earnings, P/E), more favorable than for 76% of alternatives. It is also positive for expected dividend yields with a Dividend Yield rank of 95 (dividends are expected to be higher than 95% of other stocks). But, compared with other companies in the same industry, the Price-to-Book Capital ratio (also referred to as market-to-book ratio) is higher than average, making the stock more expensive. Only 69% of all competitors have an even higher price compared with book capital which puts the Price-to-Capital Rank for Primax Electronics to 31. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 83, is a buy recommendation based on Primax Electronics's stock price compared with the company's operational size and dividend yields. A low level of book capital means that the company has a business that is leaner in assets than its competitors. For instance, the company could be leasing its production facilities or be more focussed on intellectual property, such as its brand and software, which is less visible in its book capital. If that is the case, the three good value ranks for Sales, Profits, and Dividends are reliable indicators for the stock price value. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	93	79	82	72
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	96	84	73	76
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	74	45	40	31
DIVIDEND YIELD
DIVIDEND YIELD	100	86	100	95
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	100	83	81	83

Last update of Value Rank: 19-Dec-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Primax Electronics; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 61 (better than 61% compared with alternatives), Primax Electronics shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Primax Electronics. Capital Growth has a rank of 60, which means that currently professionals expect the company to grow its invested capital more than 40% of its competitors. Investors welcomed this, visible in the Stock Returns rank of 73 (above 73% of alternative investments). But Sales Growth has only a rank of 46, which means that, currently, professionals expect the company to grow less than 54% of its competitors, and Profit Growth is also low at a rank of 40. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 61, is a buy recommendation for growth and momentum investors. This is an ambiguous picture. Revenue growth and capital growth are strong, but the growth in profit, which seems good, can also be an indication that growth momentum may be negative. The fact that stock returns have been above average doesn't help much, as stock returns are less reliable in showing a company’s future growth potential. Prices may perform well for the simple reason that investors were too pessimistic in the past and are now correcting their opinions and moving the stock price to a more reasonable level. As the growth picture is mixed for Primax Electronics, investors may want to look at value and sentiment indicators for a well-rounded picture of this stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	10	52	15	46
PROFIT GROWTH
PROFIT GROWTH	74	50	56	40
CAPITAL GROWTH
CAPITAL GROWTH	n/a	89	87	60
STOCK RETURNS
STOCK RETURNS	52	67	57	73
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	21	85	65	61

Last update of Growth Rank: 19-Dec-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Primax Electronics.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 45 (better than 45% compared with alternatives), the company Primax Electronics has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Primax Electronics is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Primax Electronics. Leverage is at a rank of 56, meaning the company has a below-average debt-to-equity ratio. It has less debt than 56% of its competitors. Liquidity is also good at a rank of 54, meaning the company generates more profit to service its debt than 54% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 49, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 51% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 45 (worse than 55% compared with alternatives), Primax Electronics has a financing structure that is riskier than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Primax Electronics. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Primax Electronics and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	20	62	69	56
REFINANCING
REFINANCING	84	37	35	49
LIQUIDITY
LIQUIDITY	39	37	43	54
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	36	39	37	45

Last update of Safety Rank: 19-Dec-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Primax Electronics and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	5	40	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	82	88	^new
MARKET PULSE
MARKET PULSE	n/a	100	60	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	78	67	^new

Last update of Sentiment Rank: 19-Dec-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Primax Electronics.
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