Tai Ping Carpets International (0146) AI Stock Analysis

• Market Cap: HK$305.55M
• Dividend Yield: 8.33%
• Average Volume (3M): 19.43K
• Price to Earnings (P/E): 7.4
• Beta (1Y): >-0.01
• Revenue Growth: 0.05%
• EPS Growth: -26.73%
• Country: HK
• Employees: 746
• Sector: Consumer Cyclical
• Sector Strength: 57
• Industry: Apparel - Manufacturers
• EPS (TTM): 0.10
• Shares Outstanding: 212,187,480
• 10 Day Avg. Volume: 12,200
• 30 Day Avg. Volume: 19,433
• PEG Ratio: 0.08
• Price to Book (P/B): 0.37
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 2.84
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$1.50
• Price Target Upside: 4.17% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 75 Outperform
• Price Target: HK$1.50 ▲(4.17%Upside)

Tai Ping Carpets International is well-positioned with strong financial performance, particularly in cash flow generation and efficient operations. The stock's technical indicators show bullish momentum despite an overbought RSI, suggesting potential caution. The company's valuation is compelling with a low P/E ratio and high dividend yield, making it attractive for value and income-focused investors.

Tai Ping Carpets International Business Overview & Revenue Model

Company Description

Tai Ping Carpets International Limited designs, manufactures, imports, exports, and sells carpets in Asia, Europe, the Middle East, the United States, and Africa. The company also manufactures and sells yarns; and provides yarn dyeing activities. It offers its products for luxury residential, private yachts and jets, boutique stores, corporate offices, and luxury hotels and resorts. The company was founded in 1956 and is headquartered in Cheung Sha Wan, Hong Kong.

How the Company Makes Money

Tai Ping Carpets International generates revenue through the design, production, and sale of bespoke carpet solutions. Its primary revenue streams include sales to luxury residences, commercial installations, and the hospitality industry, where custom designs are commissioned for hotels and resorts. The company also collaborates with designers and architects to create exclusive collections, enhancing its offerings and appeal in the high-end market. Additionally, Tai Ping benefits from its global distribution network, enabling it to reach a broad clientele, supported by its reputation for quality and innovation in carpet design.

Tai Ping Carpets International Financial Statement Overview

Summary

Tai Ping Carpets International exhibits solid financial health across all key areas. The income statement reflects positive growth and efficient operations, the balance sheet demonstrates sound financial management with low leverage, and the cash flow statement highlights strong cash generation capabilities. The company is well-positioned for sustained growth with a balanced financial structure.

Income Statement

The company demonstrated strong growth in revenue with a 6.59% increase from the previous year and an improving net profit margin of 6.58%. Gross profit margin is robust at 61.70%, signaling efficient cost management. Both EBIT and EBITDA margins are healthy, at 7.11% and 15.37% respectively, showing operational efficiency improvements. Overall, the income statement reflects a positive growth trajectory with stable profitability.

Balance Sheet

The company maintains a healthy equity position with an equity ratio of 54.63%, suggesting financial stability. The debt-to-equity ratio is low at 0.25, indicating prudent leverage usage. Return on equity is 9.26%, reflecting moderate profitability relative to shareholder investment. The balance sheet is stable with strong equity and manageable debt levels, though there is room for improvement in asset utilization.

Cash Flow

Cash flow generation is strong, with a significant 63.87% growth in free cash flow. The operating cash flow to net income ratio is 2.59, indicating robust cash generation from operations. The free cash flow to net income ratio of 2.15 showcases effective cash conversion. Overall, cash flows are healthy, supporting operational needs and potential growth opportunities.

Breakdown	TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	642.15M	640.22M	600.60M	583.66M	481.38M	492.27M
Gross Profit	397.23M	395.01M	359.91M	330.82M	280.10M	221.35M
EBITDA	71.98M	96.57M	90.80M	81.07M	78.18M	36.75M
Net Income	41.54M	42.11M	38.42M	25.27M	16.63M	-24.74M
Balance Sheet
Total Assets	820.35M	832.57M	792.87M	788.01M	784.88M	777.21M
Cash, Cash Equivalents and Short-Term Investments	233.42M	263.32M	217.66M	195.96M	178.17M	136.44M
Total Debt	137.19M	114.26M	124.12M	107.22M	129.37M	148.10M
Total Liabilities	374.96M	377.63M	364.27M	358.88M	360.09M	390.29M
Stockholders Equity	445.39M	454.94M	428.59M	429.13M	424.78M	369.50M
Cash Flow
Free Cash Flow	68.02M	90.63M	55.31M	71.94M	82.36M	56.28M
Operating Cash Flow	84.50M	109.16M	68.76M	85.48M	98.23M	74.74M
Investing Cash Flow	-91.61M	-141.55M	26.30M	-42.40M	-14.20M	-9.50M
Financing Cash Flow	-57.70M	-49.82M	-42.03M	-51.17M	-48.85M	-25.47M

Tai Ping Carpets International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.44
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0146, the sentiment is Positive. The current price of 1.44 is equal to the 20-day moving average (MA) of 1.44, above the 50-day MA of 1.35, and above the 200-day MA of 1.23, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 61.76 is Neutral, neither overbought nor oversold. The STOCH value of 41.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0146.

Tai Ping Carpets International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0146	75 Outperform	HK$305.55M	7.36	9.39%	8.33%	0.05%	-26.73%
1749	70 Outperform	HK$129.40M	3.60	12.55%	62.80%	-6.75%	3.61%
Sector *	63 Neutral	$16.62B	10.98	-6.98%	2.96%	1.73%	-24.23%
2223	55 Neutral	HK$69.62M	―	-2.60%	―	-13.04%	-111.11%
1825	47 Neutral	HK$28.34M	―	-21.24%	―	-14.00%	-1233.33%
3778	45 Neutral	HK$450.85M	―	-1.72%	―	14.05%	56.22%
1906	43 Neutral	HK$500.18M	―	-5.04%	―	46.93%	63.40%

Tai Ping Carpets International Corporate Events

Tai Ping Carpets Enhances Governance with New Nomination Committee

Tai Ping Carpets International Limited has established a Nomination Committee to enhance its board’s governance and diversity. The committee is tasked with reviewing the board’s structure, developing diversity and nomination policies, and making recommendations on board appointments and succession planning, which is expected to strengthen the company’s strategic direction and stakeholder confidence.