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.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Ta Chen Stainless Pipe stock research in summary

tachen.com

ANALYSIS: With an Obermatt Combined Rank of 44 (worse than 56% 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 48 (worse than 52% of alternatives), and are riskily financed (Safety Rank of 29, which means above-average debt burdens) but show above-average growth (Growth Rank of 83). ...read more

RECOMMENDATION: A Combined Rank of 44, is a hold recommendation based on Ta Chen Stainless Pipe's financial characteristics. As the company Ta Chen Stainless Pipe shows low value with an Obermatt Value Rank of 48 (52% of comparable investments are less expensive), investors should look at the other ranks. In this case, growth is expected to be above-average, better than 83% of comparable companies (Obermatt Growth Rank is 83). This is a typical case. Companies with above average growth tend to cost more than stocks with slower growth expectations. If this is a high-growth company, the low Obermatt Safety Rank of 29 is a good sign. The more debt a well-performing company has, the higher the returns to shareholders. However, if growth turns negative or interest rates increase, high debt may become a burden. If you believe the future is bright for Ta Chen Stainless Pipe, even a low-value company (in terms of its key financial indicators) can be a good investment. 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	48
Growth Rank	83
Safety Rank	29
Combined Rank	44

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

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

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

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

Research History: Ta Chen Stainless Pipe

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	54	57	49	48
GROWTH
GROWTH	81	61	41	83
SAFETY
SAFETY	59	14	42	29
SENTIMENT
SENTIMENT	n/a	96	87	^new
360° VIEW
360° VIEW	n/a	69	44	^new

Most recent update of the stock research: 25-Apr-2024. Financial reporting date used for calculating ranks: 31-Dec-2023. 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	48
GROWTH
GROWTH	81	61	41	83
SAFETY
SAFETY	59	14	42	29
COMBINED
COMBINED	77	31	30	44

Last update of combined financial performance: 25-Apr-2024. 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 48 (worse than 52% 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 60, which means that the stock price compared with what market professionals expect for future sales is lower than for 60% 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 71, which means that dividends are expected to be higher than for 71% 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 57% of alternatives (only 43% 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 77% 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 48, 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	60
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	53	59	37	23
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	26	26	45	43
DIVIDEND YIELD
DIVIDEND YIELD	60	73	62	71
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	54	57	49	48

Last update of Value Rank: 25-Apr-2024. 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 83 (better than 83% compared with alternatives) for 2024, Ta Chen Stainless Pipe shows one of the highest growth dynamics in its industry. Investors also speak of high 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 value of 82 which means that currently professionals expect the company to grow more than 82% of its competitors. Profit Growth with a value of 62 and Capital Growth with a rank of 78 means that currently, professionals expect the company to grow both profits and invested capital more than of its competitors. But Stock Returns has only a rank of 44, which means that stock returns have recently been below 56% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 83, is a buy recommendation for growth and momentum investors. Ta Chen Stainless Pipe has only one below-average growth indicator, the stock returns. This is probably the least reliable growth indicator, because it measures company and investor expectations at the same time. The three other growth indicators, which are all positive for Ta Chen Stainless Pipe, are more reliable measures of growth momentum. For this reason, the company seems to be on a good trajectory, unless you think the current period is not representative, because of unique events that will not be repeated in the future. 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	82
PROFIT GROWTH
PROFIT GROWTH	73	26	14	62
CAPITAL GROWTH
CAPITAL GROWTH	n/a	54	48	78
STOCK RETURNS
STOCK RETURNS	62	75	57	44
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	81	61	41	83

Last update of Growth Rank: 25-Apr-2024. 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 29 (better than 29% compared with alternatives), the company Ta Chen Stainless Pipe 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 Ta Chen Stainless Pipe 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 just one indicator above average for Ta Chen Stainless Pipe and the other two below average. Refinancing is at 75, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 75% of its competitors. But Leverage is high with a rank of 22, meaning the company has an above-average debt-to-equity ratio. It has more debt than 78% of its competitors. Liquidity is also on the riskier side with a rank of 45, meaning the company generates less profit to service its debt than 55% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 29 (worse than 71% compared with alternatives), Ta Chen Stainless Pipe has a financing structure that is riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for Ta Chen Stainless Pipe are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. 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	22
REFINANCING
REFINANCING	82	67	75	75
LIQUIDITY
LIQUIDITY	17	19	57	45
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	59	14	42	29

Last update of Safety Rank: 25-Apr-2024. 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: 25-Apr-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Ta Chen Stainless Pipe.
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