Fact based stock research
Ta Chen Stainless Pipe (TSEC:2027)

TW0002027000

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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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Ta Chen Stainless Pipe stock research in summary

tachen.com

ANALYSIS: With an Obermatt Combined Rank of 45 (worse than 55% compared with investment alternatives), Ta Chen Stainless Pipe (Steel, Taiwan) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Ta Chen Stainless Pipe are low in value (priced high) with a consolidated Value Rank of 43 (worse than 57% of alternatives). But they show above-average growth (Growth Rank of 57) and are safely financed (Safety Rank of 53, which means below-average debt burdens). ...read more

RECOMMENDATION: A Combined Rank of 45, is a hold recommendation based on Ta Chen Stainless Pipe's financial characteristics. Investors looking for growth and low financial risk may find this stock attractive. While the company Ta Chen Stainless Pipe exhibits low value (Obermatt Value Rank of 43), which means that the stock price is rather high, it also demonstrates above-average growth (Obermatt Growth Rank of 57). This is a typical case, as high-growth companies are often expensive. Good financing practices (Obermatt Safety Rank of 53) are a double-edged sword: if the company continues growing, low debt limits shareholder returns. But if the company increases its debt, it will also increase risk. In other words, this is an investment on the safer side, despite the above-average price (low value). 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	n/a
Growth Rank	n/a
Safety Rank	n/a
Combined Rank	n/a

Country	Taiwan
Industry	Steel
Index	FTSE Taiwan
Size class	X-Large

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Research History: Ta Chen Stainless Pipe

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	54	57	49	n/a
GROWTH
GROWTH	81	61	41	n/a
SAFETY
SAFETY	59	14	42	n/a
SENTIMENT
SENTIMENT	n/a	96	87	^new
360° VIEW
360° VIEW	n/a	69	44	^new

Most recent update of the stock research: . Financial reporting date used for calculating ranks: . Stock research history is based on the Obermatt Method. The higher the rank, the better Ta Chen Stainless Pipe is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	54	57	49	n/a
GROWTH
GROWTH	81	61	41	n/a
SAFETY
SAFETY	59	14	42	n/a
COMBINED
COMBINED	77	31	30	n/a

Last update of combined financial performance: . Stock analysis on combined financial performance: The higher the rank of Ta Chen Stainless Pipe the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 43 (worse than 57% compared with alternatives), Ta Chen Stainless Pipe shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, where half the indicators are below and half above average for Ta Chen Stainless Pipe. Price-to-Sales (P/S) is 50, which means that the stock price compared with what market professionals expect for future sales is lower than for 50% of comparable companies, indicating a good value concerning Ta Chen Stainless Pipe's revenue size. The same is valid for dividend yields with a Dividend Yield rank of 86, which means that dividends are expected to be higher than for 86% of comparable investments. On the other hand, the Price-to-Book Capital ratio (also referred to as market-to-book ratio) is less favorable than for 58% of alternatives (only 42% of peers have an even higher ratio). The same is valid for the Price-to-Profit (or Price / Earnings, P/E) ratio, which is higher than for 74% of comparable companies, making the stock more expensive compared with the company's expected profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 43, is a hold recommendation based on Ta Chen Stainless Pipe's stock price compared with the company's operational size and dividend yields. This is a somewhat surprising picture, because it means that profits are low while dividends are high. One interpretation could be that profits are expected to increase, justifying the high dividend payments. But it could also mean that the company desperately keeps the high dividends to avoid a collapsing share price. This would be a rather dangerous constellation. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	53	63	58	n/a
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	53	59	37	n/a
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	26	26	45	n/a
DIVIDEND YIELD
DIVIDEND YIELD	60	73	62	n/a
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	54	57	49	n/a

Last update of Value Rank: . Stock analysis on value ratios: The higher the rank, the lower the value ratio of Ta Chen Stainless Pipe; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 57 (better than 57% compared with alternatives), Ta Chen Stainless Pipe 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 all but one indicator above average for Ta Chen Stainless Pipe. Sales Growth has a rank of 68 which means that currently, professionals expect the company to grow more than 68% of its competitors. Capital Growth is also above 11% of competitors with a rank of 70, and Stock Returns with the rank of 55 is also an outperformance. Only Profit Growth is low with a rank of 11 which means that currently, professionals expect the company to grow its profits less than 89% of its competitors. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 57, is a buy recommendation for growth and momentum investors. All three operating growth indicators, namely revenue, profit, and capital growth, are showing improvements. This is a good indication of a company with a positive future. That might, at the same time, be the simple reason why profit growth is low. A growing company needs money and thus can't yet show high profit growth. Look out for signs in corporate communication about extra growth efforts costing time and money. If that is the case, Ta Chen Stainless Pipe is a good growth 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. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	79	78	66	n/a
PROFIT GROWTH
PROFIT GROWTH	73	26	14	n/a
CAPITAL GROWTH
CAPITAL GROWTH	n/a	54	48	n/a
STOCK RETURNS
STOCK RETURNS	62	75	57	n/a
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	81	61	41	n/a

Last update of Growth Rank: . Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Ta Chen Stainless Pipe.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 53 (better than 53% compared with alternatives), the company Ta Chen Stainless Pipe has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Ta Chen Stainless Pipe is safe, it only means that the company is on the safer side regarding possible bankruptcy, 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 Ta Chen Stainless Pipe. Refinancing is at 75, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 75% of its competitors. Liquidity is also good at 62, meaning the company generates more profit to service its debt than 62% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 18, which means the company has an above-average debt-to-equity ratio. It has more debt than 82% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 53 (better than 53% compared with alternatives), Ta Chen Stainless Pipe has a financing structure that is safer than that of its competitors. This is not bad if things go well. The higher debt level means better returns to shareholders if things go well. Many top-performing companies operate with higher debt levels, and Ta Chen Stainless Pipe could be in that group. But if you expect the environment to turn rougher, the higher leverage could become a problem. The same is valid if you expect interest rates to rise. That could squeeze shareholder returns, which so far have benefitted from better conditions. In the long-term, investors may have a debt challenge with Ta Chen Stainless Pipe 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	34	2	16	n/a
REFINANCING
REFINANCING	82	67	75	n/a
LIQUIDITY
LIQUIDITY	17	19	57	n/a
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	59	14	42	n/a

Last update of Safety Rank: . Stock analysis on safety metrics: The higher the rank, the lower the leverage of Ta Chen Stainless Pipe 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	91	53	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	87	50	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	7	84	^new
MARKET PULSE
MARKET PULSE	n/a	100	95	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	96	87	^new

Last update of Sentiment Rank: . Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Ta Chen Stainless Pipe.
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