Test Research, Inc. Logo

Test Research, Inc.

3030.TW

(2.2)
Stock Price

137,50 TWD

13.84% ROA

19.85% ROE

22.71x PER

Market Cap.

32.834.024.000,00 TWD

0.9% DER

2.37% Yield

25.96% NPM

Test Research, Inc. Stock Analysis

Test Research, Inc. Fundamental Analysis

Fundamental analysis in stock investing is like studying the foundation of a house before buying it. It involves looking at a company's financial health, like its earnings, assets, and debts, to determine if it's a good investment based on its fundamental strength and potential for growth.

Test Research, Inc. Fundamental Stock Analysis
# Analysis Rating
1 ROA

This stock has a great ability to make a lot of money from the things it owns, which makes it a really good investment for smart investors.

2 DER

The stock has a low debt to equity ratio (1%), which means it has a small amount of debt compared to the ownership it holds

3 Dividend

With a solid track record of dividend payments over the past five years, the company has established itself as a dependable choice for investors seeking consistent income.

4 ROE

The stock's ROE falls within an average range (14.7%), demonstrating satisfactory profitability and efficiency in utilizing shareholders' equity.

5 PBV

The stock's PBV ratio (2.12x) indicates a justifiable valuation, presenting a compelling choice for investors seeking reasonable returns.

6 Buffet Intrinsic Value

The company's stock seems undervalued (297) by Warren Buffett's formula, indicating a promising investment opportunity as its intrinsic value exceeds the market price.

7 Revenue Growth

Company has experienced no growth in revenue over the past three years, suggesting limited profitability and making it a less desirable investment opportunity.

8 Net Profit Growth

This company's net profit has remained stagnant over the past five years, indicating a lack of growth and making it a less favorable investment option.

9 Assets Growth

Regrettably, this company's revenue has shown no signs of growth over the past three years, suggesting limited potential for returns and making it a less appealing choice.

10 Graham Number

The Graham number of this company suggests that its stock price may be overvalued, indicating a less favorable investment opportunity.

11 Dividend Growth

The company's dividend growth has shown no improvement in the past three years, making it a less attractive investment option for those seeking increasing returns.

Test Research, Inc. Technical Analysis

Technical analysis in stock investing is like reading the patterns on a weather map to predict future weather conditions. It involves studying past stock price movements and trading volumes to make predictions about where a stock's price might go next, without necessarily looking at the company's financial health.

Test Research, Inc. Technical Stock Analysis
# Analysis Recommendation
1 Awesome Oscillator Buy
2 MACD Buy
3 RSI Hold
4 Stoch RSI Sell

Test Research, Inc. Price Chart

Financial Statements

Financial statements are like report cards for companies. They show how much money a company makes (income statement), what it owns and owes (balance sheet), and where it spends its money (cash flow statement), helping stock investors understand if a company is healthy and worth investing in.

Income Statements

An income statement for a company is like a scoreboard for its profits and losses. It shows how much money the company made (revenue) and how much it spent to make that money (expenses), helping stock investors see if a company is making a profit or not.

Revenue in stock investing is the total amount of money a company earns from its sales, and it's a key factor that investors consider to assess a company's financial performance and growth potential.

Test Research, Inc. Revenue
Year Revenue Growth
2006 2.037.793.000
2007 2.538.902.000 19.74%
2008 2.087.717.000 -21.61%
2009 1.710.585.000 -22.05%
2010 3.756.431.000 54.46%
2011 3.897.672.000 3.62%
2012 5.538.388.000 29.62%
2013 4.083.860.000 -35.62%
2014 5.869.549.000 30.42%
2015 4.754.389.000 -23.46%
2016 3.099.686.000 -53.38%
2017 3.601.158.000 13.93%
2018 4.919.426.000 26.8%
2019 4.386.806.000 -12.14%
2020 4.950.695.000 11.39%
2021 5.606.690.000 11.7%
2022 6.708.832.000 16.43%
2023 4.108.576.000 -63.29%
2023 4.435.101.000 7.36%
2024 6.908.000.000 35.8%

Research and Development Expenses are the costs a company incurs to create and improve its products or services, which can be important for investors to evaluate a company's innovation and potential for future growth.

Test Research, Inc. Research and Development Expenses
Year Research and Development Expenses Growth
2006 115.588.000
2007 155.099.000 25.47%
2008 166.976.000 7.11%
2009 166.754.000 -0.13%
2010 218.809.000 23.79%
2011 239.437.000 8.62%
2012 326.446.000 26.65%
2013 341.644.000 4.45%
2014 378.371.000 9.71%
2015 379.486.000 0.29%
2016 325.806.000 -16.48%
2017 314.368.000 -3.64%
2018 379.841.000 17.24%
2019 422.541.000 10.11%
2020 390.750.000 -8.14%
2021 497.036.000 21.38%
2022 534.901.000 7.08%
2023 416.548.000 -28.41%
2023 428.174.000 2.72%
2024 608.592.000 29.65%

General and Administrative Expenses are the costs a company incurs to run its day-to-day operations, such as office rent, salaries, and utilities, which investors consider to understand a company's overall efficiency and management effectiveness.

Test Research, Inc. General and Administrative Expenses
Year General and Administrative Expenses Growth
2006 70.159.000
2007 66.801.000 -5.03%
2008 105.585.000 36.73%
2009 104.411.000 -1.12%
2010 138.302.000 24.51%
2011 126.150.000 -9.63%
2012 117.049.000 -7.78%
2013 136.525.000 14.27%
2014 160.433.000 14.9%
2015 159.010.000 -0.89%
2016 120.890.000 -31.53%
2017 128.825.000 6.16%
2018 151.715.000 15.09%
2019 150.021.000 -1.13%
2020 155.817.000 3.72%
2021 158.851.000 1.91%
2022 186.378.000 14.77%
2023 185.428.000 -0.51%
2023 169.312.000 -9.52%
2024 170.100.000 0.46%

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure that helps stock investors analyze a company's profitability by looking at its earnings without considering certain expenses. This helps to get a clearer picture of the company's financial performance and its ability to generate cash flow.

Test Research, Inc. EBITDA
Year EBITDA Growth
2006 720.153.000
2007 895.208.000 19.55%
2008 596.728.000 -50.02%
2009 338.251.000 -76.42%
2010 1.143.627.000 70.42%
2011 1.308.883.000 12.63%
2012 1.907.807.000 31.39%
2013 1.070.788.000 -78.17%
2014 1.574.032.000 31.97%
2015 1.351.785.000 -16.44%
2016 645.452.000 -109.43%
2017 853.835.000 24.41%
2018 1.447.698.000 41.02%
2019 1.268.279.000 -14.15%
2020 1.506.583.000 15.82%
2021 1.694.254.000 11.08%
2022 2.602.861.000 34.91%
2023 1.415.104.000 -83.93%
2023 1.395.114.000 -1.43%
2024 2.340.460.000 40.39%

Gross profit is the money a company makes from selling its products or services after subtracting the cost of producing or providing them, and it is an important measure for investors to understand a company's profitability.

Test Research, Inc. Gross Profit
Year Gross Profit Growth
2006 1.132.475.000
2007 1.446.684.000 21.72%
2008 1.155.118.000 -25.24%
2009 903.891.000 -27.79%
2010 2.072.555.000 56.39%
2011 2.120.669.000 2.27%
2012 3.049.851.000 30.47%
2013 2.055.876.000 -48.35%
2014 2.690.897.000 23.6%
2015 2.534.708.000 -6.16%
2016 1.695.386.000 -49.51%
2017 1.907.605.000 11.12%
2018 2.629.304.000 27.45%
2019 2.489.589.000 -5.61%
2020 2.715.256.000 8.31%
2021 3.047.841.000 10.91%
2022 3.848.629.000 20.81%
2023 2.442.052.000 -57.6%
2023 2.630.615.000 7.17%
2024 4.011.836.000 34.43%

Net income in stock investing is like the money a company actually gets to keep as profit after paying all its bills, and it's an important measure to understand how well a company is doing financially.

Test Research, Inc. Net Profit
Year Net Profit Growth
2006 596.095.000
2007 773.622.000 22.95%
2008 469.723.000 -64.7%
2009 195.921.000 -139.75%
2010 906.121.000 78.38%
2011 963.719.000 5.98%
2012 1.433.091.000 32.75%
2013 806.300.000 -77.74%
2014 1.260.396.000 36.03%
2015 998.903.000 -26.18%
2016 429.218.000 -132.73%
2017 594.865.000 27.85%
2018 1.064.399.000 44.11%
2019 938.698.000 -13.39%
2020 1.092.656.000 14.09%
2021 1.185.054.000 7.8%
2022 1.921.485.000 38.33%
2023 983.856.000 -95.3%
2023 1.001.254.000 1.74%
2024 1.864.500.000 46.3%

EPS, or earnings per share, is a measure that shows how much profit a company has earned for each outstanding share of its stock, and it is important for stock investors as it helps understand the profitability of a company and compare it with other companies in the market.

Test Research, Inc. Earning per Share (EPS)
Year Earning per Share (EPS) Growth
2006 3
2007 4 33.33%
2008 2 -50%
2009 1 0%
2010 4 100%
2011 4 25%
2012 6 33.33%
2013 3 -100%
2014 5 40%
2015 4 -25%
2016 2 -300%
2017 3 50%
2018 5 50%
2019 4 -33.33%
2020 5 25%
2021 5 20%
2022 8 37.5%
2023 4 -100%
2023 4 0%
2024 8 42.86%

Cashflow Statements

Cashflow statements show the movement of money in and out of a company, helping stock investors understand how much money a company makes and spends. By examining cashflow statements, investors can assess if a company is generating enough cash to pay its bills, invest in growth, and provide returns to stockholders.

Free cash flow is the leftover cash that a company generates after covering its operating expenses and capital expenditures, which is important for stock investors as it shows how much money a company has available to invest in growth, pay dividends, or reduce debt.

Test Research, Inc. Free Cashflow
Year Free Cashflow Growth
2006 -155.481.000
2007 491.294.000 131.65%
2008 -14.858.000 3406.6%
2009 294.790.000 105.04%
2010 607.605.000 51.48%
2011 887.660.000 31.55%
2012 1.405.346.000 36.84%
2013 1.078.545.000 -30.3%
2014 1.124.667.000 4.1%
2015 642.493.000 -75.05%
2016 519.550.000 -23.66%
2017 206.982.000 -151.01%
2018 575.619.000 64.04%
2019 1.304.458.000 55.87%
2020 1.067.605.000 -22.19%
2021 436.283.000 -144.7%
2022 787.279.000 44.58%
2023 1.001.037.000 21.35%
2023 126.517.000 -691.23%
2024 108.607.000 -16.49%

Operating cash flow represents the cash generated or consumed by a company's day-to-day operations, excluding external investing or financing activities, and is crucial for stock investors as it shows how much cash a company is generating from its core business operations.

Test Research, Inc. Operating Cashflow
Year Operating Cashflow Growth
2006 466.754.000
2007 771.252.000 39.48%
2008 683.641.000 -12.82%
2009 319.273.000 -114.12%
2010 659.464.000 51.59%
2011 911.560.000 27.66%
2012 1.430.203.000 36.26%
2013 1.115.050.000 -28.26%
2014 1.155.112.000 3.47%
2015 675.764.000 -70.93%
2016 553.031.000 -22.19%
2017 248.474.000 -122.57%
2018 626.813.000 60.36%
2019 1.358.206.000 53.85%
2020 1.120.219.000 -21.24%
2021 591.412.000 -89.41%
2022 1.467.211.000 59.69%
2023 1.877.833.000 21.87%
2023 331.416.000 -466.61%
2024 151.473.000 -118.8%

Capex, short for capital expenditures, refers to the money a company spends on acquiring or upgrading tangible assets like buildings, equipment, or technology, which is important for stock investors as it indicates how much a company is investing in its infrastructure to support future growth and profitability.

Test Research, Inc. Capital Expenditure
Year Capital Expenditure Growth
2006 622.235.000
2007 279.958.000 -122.26%
2008 698.499.000 59.92%
2009 24.483.000 -2753%
2010 51.859.000 52.79%
2011 23.900.000 -116.98%
2012 24.857.000 3.85%
2013 36.505.000 31.91%
2014 30.445.000 -19.9%
2015 33.271.000 8.49%
2016 33.481.000 0.63%
2017 41.492.000 19.31%
2018 51.194.000 18.95%
2019 53.748.000 4.75%
2020 52.614.000 -2.16%
2021 155.129.000 66.08%
2022 679.932.000 77.18%
2023 876.796.000 22.45%
2023 204.899.000 -327.92%
2024 42.866.000 -378%

Balance Sheet

Balance sheets provide a snapshot of a company's financial health and its assets (such as cash, inventory, and property) and liabilities (like debts and obligations) at a specific point in time. For stock investors, balance sheets help assess the company's overall worth and evaluate its ability to meet financial obligations and support future growth.

Equity refers to the ownership interest or stake that shareholders have in a company, representing their claim on its assets and earnings after all debts and liabilities are paid.

Test Research, Inc. Equity
Year Equity Growth
2006 2.148.944.000
2007 2.759.015.000 22.11%
2008 3.039.525.000 9.23%
2009 3.106.236.000 2.15%
2010 3.890.242.000 20.15%
2011 4.420.871.000 12%
2012 5.248.612.000 15.77%
2013 5.221.225.000 -0.52%
2014 5.718.469.000 8.7%
2015 5.685.246.000 -0.58%
2016 5.129.259.000 -10.84%
2017 5.008.954.000 -2.4%
2018 5.348.469.000 6.35%
2019 5.382.432.000 0.63%
2020 5.702.194.000 5.61%
2021 6.096.291.000 6.46%
2022 7.266.877.000 16.11%
2023 6.928.831.000 -4.88%
2023 7.185.580.000 3.57%
2024 7.353.735.000 2.29%

Assets represent the valuable resources that a company owns, such as cash, inventory, property, and equipment, and understanding a company's assets helps investors assess its value and potential for generating future profits.

Test Research, Inc. Assets
Year Assets Growth
2006 2.783.495.000
2007 3.303.868.000 15.75%
2008 3.507.274.000 5.8%
2009 3.730.612.000 5.99%
2010 4.529.814.000 17.64%
2011 5.143.445.000 11.93%
2012 6.577.074.000 21.8%
2013 6.208.408.000 -5.94%
2014 6.804.377.000 8.76%
2015 6.649.220.000 -2.33%
2016 5.773.533.000 -15.17%
2017 6.061.900.000 4.76%
2018 6.468.296.000 6.28%
2019 6.569.035.000 1.53%
2020 6.997.303.000 6.12%
2021 8.009.982.000 12.64%
2022 9.172.546.000 12.67%
2023 8.246.860.000 -11.22%
2023 8.905.889.000 7.4%
2024 10.469.893.000 14.94%

Liabilities refer to the financial obligations or debts that a company owes to creditors or external parties, and understanding a company's liabilities is important for investors as it helps assess the company's financial risk and ability to meet its obligations.

Test Research, Inc. Liabilities
Year Liabilities Growth
2006 634.551.000
2007 544.853.000 -16.46%
2008 467.749.000 -16.48%
2009 624.376.000 25.09%
2010 639.572.000 2.38%
2011 722.574.000 11.49%
2012 1.328.462.000 45.61%
2013 987.183.000 -34.57%
2014 1.085.908.000 9.09%
2015 963.974.000 -12.65%
2016 644.274.000 -49.62%
2017 1.052.946.000 38.81%
2018 1.119.827.000 5.97%
2019 1.186.603.000 5.63%
2020 1.295.109.000 8.38%
2021 1.913.691.000 32.32%
2022 1.905.669.000 -0.42%
2023 1.318.029.000 -44.58%
2023 1.720.309.000 23.38%
2024 3.116.158.000 44.79%

Test Research, Inc. Financial Ratio (TTM)

Valuation Metrics

Revenue per Share
23.58
Net Income per Share
6.12
Price to Earning Ratio
22.71x
Price To Sales Ratio
5.9x
POCF Ratio
24.06
PFCF Ratio
34.76
Price to Book Ratio
4.46
EV to Sales
5.69
EV Over EBITDA
16.43
EV to Operating CashFlow
23.24
EV to FreeCashFlow
33.58
Earnings Yield
0.04
FreeCashFlow Yield
0.03
Market Cap
32,83 Bil.
Enterprise Value
31,72 Bil.
Graham Number
65.48
Graham NetNet
6.96

Income Statement Metrics

Net Income per Share
6.12
Income Quality
0.81
ROE
0.2
Return On Assets
0.14
Return On Capital Employed
0.22
Net Income per EBT
0.8
EBT Per Ebit
1.07
Ebit per Revenue
0.3
Effective Tax Rate
0.2

Margins

Sales, General, & Administrative to Revenue
0.03
Research & Developement to Revenue
0.09
Stock Based Compensation to Revenue
0
Gross Profit Margin
0.59
Operating Profit Margin
0.3
Pretax Profit Margin
0.33
Net Profit Margin
0.26

Dividends

Dividend Yield
0.02
Dividend Yield %
2.37
Payout Ratio
0.74
Dividend Per Share
3.3

Operating Metrics

Operating Cashflow per Share
5.78
Free CashFlow per Share
4
Capex to Operating CashFlow
0.31
Capex to Revenue
0.08
Capex to Depreciation
2.58
Return on Invested Capital
0.18
Return on Tangible Assets
0.14
Days Sales Outstanding
207.7
Days Payables Outstanding
160.84
Days of Inventory on Hand
225.33
Receivables Turnover
1.76
Payables Turnover
2.27
Inventory Turnover
1.62
Capex per Share
1.78

Balance Sheet

Cash per Share
7,11
Book Value per Share
31,13
Tangible Book Value per Share
31.03
Shareholders Equity per Share
31.13
Interest Debt per Share
0.29
Debt to Equity
0.01
Debt to Assets
0.01
Net Debt to EBITDA
-0.58
Current Ratio
2.21
Tangible Asset Value
7,33 Bil.
Net Current Asset Value
3,18 Bil.
Invested Capital
7472833000
Working Capital
3,45 Bil.
Intangibles to Total Assets
0
Average Receivables
2,97 Bil.
Average Payables
0,91 Bil.
Average Inventory
1353226500
Debt to Market Cap
0

Dividends

Dividends in stock investing are like rewards that companies give to their shareholders. They are a portion of the company's profits distributed to investors, typically in the form of cash payments, as a way for them to share in the company's success.

Test Research, Inc. Dividends
Year Dividends Growth
2003 0
2004 0 0%
2005 1 100%
2006 1 0%
2007 1 0%
2008 1 0%
2009 1 0%
2010 0 0%
2011 2 100%
2012 2 50%
2013 3 33.33%
2014 3 0%
2015 4 25%
2016 4 0%
2017 3 -33.33%
2018 3 0%
2019 4 0%
2020 3 0%
2021 3 0%
2022 3 0%
2023 5 25%
2024 3 -33.33%

Test Research, Inc. Profile

About Test Research, Inc.

Test Research, Inc. designs, assembles, manufactures, maintains, repairs, and sells automated inspection and testing equipment in Asia, America, Europe, and internationally. The company offers optical inspection solutions, including 3D solder paste inspection, pre-reflow and post- reflow automated optical inspection, and automated X-ray inspection systems; and manufacturing defects analyzers and in-circuit testers. It also provides smart factory and AI-power solutions, as well as yield management system. In addition, the company offers test and inspection solutions for automotive, semiconductor, and telecommunication industries. Further, it provides after sales services, including trouble shooting, failure analysis, periodic calibration, system maintenance, and parts and accessories warranty. Test Research, Inc. was incorporated in 1989 and is headquartered in Taipei City, Taiwan.

CEO
Mr. Chieh-Yuan Chen
Employee
790
Address
No. 45, Dexing West Road
Taipei, 11158

Test Research, Inc. Executives & BODs

Test Research, Inc. Executives & BODs
# Name Age
1 Mr. Chieh-Yuan Chen
Founder, Chairman & President
70
2 Mr. Kaun-Yuan Chen
Director of Finance Department & Accounting Chief
70
3 Mr. Chia-Lang Tsai
Chief Information Security Officer & Senior Manager of Human Resources Department
70
4 Mr. Chiang Huai Lin
Vice President of Global Sales Division & Director
70

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