Highlights
KLSE: FPI (9172)       FORMOSA PROSONIC INDUSTRIES MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
2.45   -0.10 (3.92%)  2.44 - 2.53  1,113,200
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Financials


Market Cap: 606 Million

Market Cap 606 Million
NOSH 247 Million

Latest Audited Result:  31-Dec-2019

Latest Audited Result: 31-Dec-2019
Announcement Date 28-May-2020
Next Audited Result: 31-Dec-2020
Est. Ann. Date: 28-May-2021
Est. Ann. Due Date: 29-Jun-2021

Latest Quarter:  30-Sep-2020 [#3]

Latest Quarter: 30-Sep-2020 [#3]
Announcement Date 19-Nov-2020
Next Quarter: 31-Dec-2020
Est. Ann. Date: 20-Feb-2021
Est. Ann. Due Date: 01-Mar-2021
QoQ | YoY   205.46%  |    62.66%

Annual (Unaudited) ( EPS: 16.90, P/E: 14.52 )

Revenue | NP to SH 766,198  |  41,750
RPS | P/RPS 309.75 Cent  |  0.79
EPS | P/E | EY 16.90 Cent  |  14.52  |  6.89%
DPS | DY | Payout % 11.00 Cent  |  4.49%  |  65.17%
NAPS | P/NAPS 1.25  |  1.96
YoY   13.93%
NP Margin | ROE 5.45%  |  13.50%
F.Y. | Ann. Date 31-Dec-2019  |  20-Feb-2020

T4Q Result ( EPS: 19.69, P/E: 12.44 )

Revenue | NP to SH 688,515  |  48,703
RPS | P/RPS 278.35 Cent  |  0.88
EPS | P/E | EY 19.69 Cent  |  12.44  |  8.04%
DPS | DY | Payout % 11.00 Cent  |  4.49%  |  55.87%
NAPS | P/NAPS 1.30  |  1.88
QoQ | YoY   25.69%  |    24.84%
NP Margin | ROE 7.08%  |  15.15%
F.Y. | Ann. Date 30-Sep-2020  |  19-Nov-2020

Annualized Result ( EPS: 21.33, P/E: 11.45 )

Revenue | NP to SH 684,240  |  52,925
RPS | P/RPS 276.62 Cent  |  0.89
EPS | P/E | EY 21.33 Cent  |  11.45  |  8.73%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   91.00%  |    21.24%
NP Margin | ROE 7.74%  |  16.46%
F.Y. | Ann. Date 30-Sep-2020  |  19-Nov-2020



Business Performance

Business Performance (By Quarter)

Trailing 4 Quarters Trailing 8 Quarters
Available Quarters 4 Quarters 8 Quarters
Continuous Quarters Of Revenue Growth 1 / 4 25.00% 1 / 8 12.50%
Total Positive Profit Years 4 / 4 100.00% 8 / 8 100.00%
Continuous Quarters Of Positive Profit 4 / 4 100.00% 8 / 8 100.00%
Continuous Quarters Of Profit Growth 2 / 4 50.00% 2 / 8 25.00%
Continuous Quarters Of Adjusted EPS Growth 2 / 4 50.00% 2 / 8 25.00%
Total Dividend Years 1 / 4 25.00% 2 / 8 25.00%
Continuous Quarters Of Dividend 0 / 4 0.00% 0 / 8 0.00%
Continuous Quarters Of Dividend Growth 0 / 4 0.00% 0 / 8 0.00%
Continuous Quarters Of Adjusted Dps Growth 0 / 4 0.00% 0 / 8 0.00%
Average ROE 3.88% 3.58%
Average Net Profit Margin 6.63% 5.90%

Business Performance (By Year)

Last 5 Financial Years Last 10 Financial Years
Available Years 5 Years 10 Years
Continuous Years Of Revenue Growth 4 / 5 80.00% 4 / 10 40.00%
Total Positive Profit Years 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Positive Profit 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Profit Growth 1 / 5 20.00% 1 / 10 10.00%
Continuous Years Of Adjusted EPS Growth 1 / 5 20.00% 1 / 10 10.00%
Total Dividend Years 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Dividend 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Dividend Growth 3 / 5 60.00% 3 / 10 30.00%
Continuous Years Of Adjusted Dps Growth 3 / 5 60.00% 3 / 10 30.00%
Average ROE 10.77% 9.44%
Average Net Profit Margin 6.57% 5.08%

Key Result

Key Result

T4Q Annualized Annual (Unaudited) Last 10 FY Average Last 5 FY Average
Revenue 688,515 684,240 766,198 531,805 488,633
NP to SH 48,703 52,925 41,750 24,882 30,723
Dividend 27,209 - 27,209 16,574 20,782
Adjusted EPS 19.69 21.33 16.90 10.05 12.42
Adjusted DPS 11.00 0.00 11.00 6.69 8.40

NP to SH = Net Profit Attributable to Shareholder, EPS = Earning Per Share, DPS = Dividend Per Share

All figures in '000 unless specified.

EPS & DPS's figures in Cent.


Growth

Growth (By Quarter)

LQ QoQ LQ YoY CQ YoY LQ vs Average of T4Q LQ vs Average of T8Q
Revenue 161.15% 7.84% -13.15% 63.28% 57.41%
NP to Owner 205.46% 62.66% 21.24% 112.22% 135.67%
Dividend 0.00% 0.00% 0.00% 0.00% 0.00%
Adj. EPS 205.88% 62.50% 21.21% 112.24% 135.69%
Adj. DPS 0.00% 0.00% 0.00% 0.00% 0.00%

LQ = Latest Quarter, CQ = Cumulative Quarter, T4Q = Trailing 4 Quarters, T8Q = Trailing 8 Quarters, QoQ = Quarter on Quarter, YoY = Year on Year

Growth (By Year)

T4Q vs LFY T4Q vs AL5FY T4Q vs AL10FY AQR vs LFY AQR vs AL5FY AQR vs AL10FY LFY YoY LFY vs AL5FY LFY vs AL10FY
Revenue -10.14% 40.91% 29.47% -10.70% 40.03% 28.66% 36.69% 56.80% 44.07%
NP to Owner 16.65% 58.52% 95.74% 26.77% 72.27% 112.71% 13.93% 35.89% 67.79%
Dividend 0.00% 30.92% 64.16% - % - % - % 9.89% 30.92% 64.16%
Adj. EPS 16.51% 58.50% 95.85% 26.21% 71.70% 112.17% 14.08% 36.04% 68.10%
Adj. DPS 0.00% 30.92% 64.33% - % - % - % 9.89% 30.92% 64.33%

T4Q = Trailing 4 Quarters, T8Q = Trailing 8 Quarters, AL5FY = Average of Last 5 Financial Years, AL10FY = Average of Last 10 Financial Years, LFY = Latest Financial Year AQR = Annualized Quarter Result, YoY = Year on Year

Analyze this stock with MQ Trader system
  8 people like this.
 
choong18 something is brewing
01/12/2020 3:30 PM
investory321 this counter is not a goreng counter....the up move is backed by good FR...with EPS of 19 cents a year, there is still more room to go up
01/12/2020 5:42 PM
OneSmallStep Yes Indeed #investory321
02/12/2020 4:34 AM
Sipektuaki price rm2.40 still cheap? can buy?
02/12/2020 9:49 AM
csm0000 PE ard 12, for this industry, still consider reasonable
02/12/2020 12:09 PM
02/12/2020 2:10 PM
spectre007 RM3 and potential bonus issue
05/12/2020 2:37 AM
gohku Lets explores good and emerging stock ideas with high growth potential. We leverage on Fundamental Analysis techniques in identifying hidden gems on Bursa Malaysia.

"I had made what I believe was one of the more valuable decisions of my business life. This was to confine all efforts solely to making major gains in the long-run." - Philip Arthur Fisher -

FORMOSA PROSONIC - A Significantly Undervalued Technology EMS Player with enormous Growth Potential

We have seen the spike in share prices of various electronics manufacturing services (EMS) players such as VS Industry, ATAINS and PIE Industrial and SKP.

These are solid companies which have been exhibiting strong growth and consistent earnings over the years. Not surprisingly, most of the EMS players are trading at price earnings ratios (PERs) of between 30x to 40x.

It is almost impossible to find a cheap EMS player, as most are usually very established players.

One example of a technology company which is also an EMS player, but is exhibiting SIMILAR growth, but has an even higher ROE, higher dividend yield but lower PER is Formosa Prosonic Industries (FPI).


This company is 27.99% owned by Taiwan based Wistron Corp the 2nd biggest company in technology after flextronics.

Wistron Corp is a major original design manufacturer in Taiwan, and was the manufacturing arm of Acer Inc. before being spun off in 2000.

FPI has rightfully recently gone into a new business segment covering the Internet of Things considering it is an Associate of Winstron, so it isn't just EMS player anymore. This is also one reason why its profits have significantly improved despite the Covid-19 pandemic.

At FPI's current share price of RM2.39, the stock is trading at a historical PER of 12.14x and offering a dividend yield of 4.6%. It's also in NET CASH position of RM226mil. Borrowing are ZERO.

Furthermore at this price, the stock still only has a market capitalisation RM590M. Most of the other EMS players have market capitalisations of a few billion ringgits.

Despite its low valuations, the company is still able to deliver a superior return of equity (ROE) of 15.15%.

FPI is the leading manufacturers of high quality sound systems in Malaysia with a strong team of audio experts.

Its manufacturing facilities strategically located in Port Klang and Sungai Petani, both in Malaysia. FPI has also established a design and engineering centre in Taiwan.

The group has evolved from the manufacturing of speaker systems to smart audio systems and musical instrument components including the design and development of wireless and bluetooth speakers with cutting edge functionality and seamless connectivity to recently internet of things.

It specialises in Original Equipment Manufacturing (OEM) services including woodworking, plastic injection, driver units, PCB assembly and finished-products assembly plus technology products in cooperations with winstron and serves the requirements for Joint Design Manufacturing (JDM), EMS and Contract Manufacturing (CM).


How To Invest in FPI

It is opportunity that FPI is not be in most investors' radar.

The stock has been 'stuck' (for lack of a better word) over the last 7 years, and has only moved in a range between RM1 to RM1.50 price.

It has finally 'broken out' of its 'deep value' phase, this is the BEST time to invest in the stock to enjoy the more exciting growth phase moving forward. If u followed Koon Yew Yin's Dynamic investment Rule FPI fit into the investment criteria.

Earnings

The 3rd quarter to Sep 30, 2020, net profit was up 62.66% to RM25.84mil on the back of a 7.84% jump in revenue to RM281.05mil this tremendous out performance is achieved despite covid19 challenges.For the 9 month period, net profit was up 21.23% to RM39.69mil.

It recorded EBITDA of RM60mil for the 9-month period ended Sep 30, 2020 compared to RM51.6mil in the previous year’s corresponding period mainly due to change in sales mix. The current strong growth of FPI is due to a new profit segment covering the Internet of Things.

These segments have contributed to its strong exponential growth. In view of its exposure to the technology industry which is growing, along with its affiliation to Wistron, FPI should register sustained strong eps growth

Hence, ride the stock this way:

Deep value stock: RM1.30 to RM1.50 break through

Yield stock: RM1.50 to RM3 current range with dividend yield 5% pa

Growth stock: RM3 to RM6

To strong momentum stock: RM6 to RM10
05/12/2020 1:54 PM
Angel of KLSE 大马股仙 Who sell who is babi
07/12/2020 9:44 AM
ajim102 Time to top up more
07/12/2020 8:02 PM
uptrending https://simplywall.st/stocks/my/consumer-durables/klse-fpi/formosa-prosonic-industries-berhad-shares

FAIR VALUE OF FPI IS RM7.84, AS GIVEN BY SIMPLYWALL. ST
08/12/2020 3:58 PM
uptrending https://investingmalaysia.com/stock/fpi-9172/

Investingmalaysia.com accords an intrinsic value of RM3. 37 for FPI
08/12/2020 4:09 PM
danielong1982 https://www.orientaldaily.com.my/news/international/2020/12/13/380731?fbclid=IwAR2iaH2UxDCWBsT6S6nREJ92KI6nW2ZyWRqRwJLOUdazRX0so5wyBBrqxn8
not sure will Wistron focus more on new factory at Malaysia, and thus benefit FPI?
13/12/2020 3:25 PM
Philan008 that is the third and new factory of the Wistron in India though.
15/12/2020 10:03 AM
gemfinder https://www.theedgemarkets.com/article/apple-supplier-wistron-could-not-manage-scaled-india-plant-govt-report-says
19/12/2020 7:01 PM
gemfinder Bad news to fpi?
19/12/2020 7:01 PM
amet2017 Bad news people panic buy lor.
19/12/2020 8:24 PM
danielong1982 https://www.thestar.com.my/tech/tech-news/2020/12/19/apple-says-no-new-business-for-supplier-wistron-after-india-plant-violence
Definitely bad news. I sold it few days ago
19/12/2020 8:24 PM
gemfinder Luckily i not yet enter
19/12/2020 8:31 PM
danielong1982 still keep going up
21/12/2020 10:13 AM
Albukhary Wrong d, I heard due to the India case, more order has switch to Malaysia, and indirectly benefited FPI.
23/12/2020 2:40 AM
csm0000 Agree with Albukhary, it's definitely a good news
23/12/2020 12:53 PM
OneSmallStep My best counter for this year
26/12/2020 11:27 PM
CakapSohaiThings Post removed. Why?
31/12/2020 9:22 AM
gohku IF YOU INVEST IN FPI YOU ARE ACTUALLY INVESTING INTO SPEAKERS, HEADPHONE & INTERNET OF THINGS THAT ARE IN BIG DEMAND.

Headphones: a world on demand

So much for the emotional story of the podcast. But underneath lies another story. The story of "on-demand", where all activities are available when one wants, where one wants, at the speed one chooses. Thanks to our smartphones, we have become the centre of our own world. There is no longer "the program", there is "my program". The biggest audience hits in France are actually radio programmes made available to the public on replay; listeners enjoy them at the time that suits them (this represents three-quarters of podcast listening in France).

Online audio, social audio, is first and foremost, "audio when I want it". It is also the convergence of an ultra-fast connection and a pair of headphones, now in (almost) every ear. Since the first Walkman in 1979 became a runaway success, we've gotten into the habit of walking through life with our own soundtrack. And the constant improvement of headphones up to the current AirPods, which are almost like augmented ears, obviously boosts listening.

The increasing popularity of digital audio is also due to the development of new smartphones with greater download capabilities.

"In February 2019, 76.3% of individuals owned a smartphone in France. And most of them have a capacity of up to 256 GB, going up to 512 GB on the latest models launched in France. This represents all the more content available offline on audio streaming applications," explains consultancy firm Sia in its report on to the development of digital audio, released in August 2020.

Ever higher-performance headphones, smartphones as powerful as the computers that sent the first rocket to the moon, and ultra-fast connections: audio has thus crept into every moment of our lives.

Half of US residents are regular listeners

In the United States, nearly half the population of listening age listens to digital audio every day and in November, 75% listened to some form of online audio, according to the recent The Spoken Word Audio Report by NPR and Edison Research. Digital audio use is spreading and becoming morewidespread. Today, podcasts are no longer reserved for the educated elite across the Atlantic.

In France, the age ranges of listeners are broadening and podcast consumption is slowly spreading beyond the upper middle classes. Listening to audio content on digital (streaming platforms, websites, applications) has increased by 20% since the beginning of the lockdowns. More than eight out of 10 French people now prefer this medium to listen to music, radio or podcasts, compared to six out of 10 before, according to a study by trend consultancy Viuz.

Audio, the multitasking medium

And this enthusiasm will not peter out, because podcasts are becoming more and more qualitative and more adapted to our lifestyles every day. For Kamel El Hadef, co-founder of Audion, an agency specialising in audio monetisation, "the vitality of digital audio consumption despite the change in French people's habits allows us to predict an increase in consumption in the future. It is noticeable that, although the French do not have daily commutes, are working from home and don't go out much at the moment, podcast consumption remains very active."

The use of audio responds to our connected lifestyles. It is the companion medium par excellence. Studies worldwide show usage coupled with another activity - walking, in public transport, driving, hanging up the washing, and working. It is the medium of multitasking. Which isn't necessarily good for our already wrung-out brains, but it is considered "practical" by 50% of Americans, who explain their appetite for audio thus.

As for reading books aloud, which was thought to be for children or the visually impaired, it is becoming unexpectedly popular.

"I listen in the evening before going to sleep, or in moments of insomnia," says Lionel, 49 years old, while avid reader Fabrice, 53 years old, says, "I don't have time to read, so I listen when I'm out and about."

The age of the voice

After the keyboard and the tactile, it is the voice with which we will soon activate all the objects that surround us. "Connected speakers represent the advent of voice as a new media in its own right," believes Sia. Artificial intelligence (AI) has made it possible to develop voice assistants like Siri or Alexa, capable of understanding our oral requests and transforming them into action or response."
01/01/2021 9:47 AM
cwc1981 So many positive reviews but the price has not go up as much as others peers
02/01/2021 2:43 PM
PureBULL ... FPI is the cheapest EMS stock. awaiting its super BO soon like PIE n D&O ...
08/01/2021 3:37 AM
Albukhary Agreed, FPI is the cheapest EMS stock. The factory worker are super busy, everyday need to OT and work on weekend.

The order from Winstron is coming non-stop.
11/01/2021 12:50 AM
goldeneye accumulating phase. Wait for next qr on feb.
11/01/2021 7:12 PM
PureBULL ... Emergency state is confirmed till Aug 2021.
Stocks exporting to the world would continue to do very well...
Lots of money will n must flow to the growing stocks, making
EXPORT.THEME.PLAY for 2021...

Stocks in the running r:
i. Semicon
ii. EMS
iii. Metals
iv. Gloves
v. Packaging
12/01/2021 12:22 PM
wkchia71 price moving today...
14/01/2021 9:20 AM
nic1515 gogogo
14/01/2021 9:22 AM
INVEST_AA Char Koey teow... Goreng ar Goreng ar..

If u see their Qtrly sales trend... their 3rd Qtr sales often highest in the year.. the following Qtr (i.e. 4th Qtr) sales often drop sizeable .. So becareful... 4th Qtr is the next annoucement...

Siapa cepat realise profit dia dapat... don't get trapped..
14/01/2021 10:14 AM
wkchia71 Too bad i cannot runaway, P/L already 82%... u sell away ur share i buy from u. lol
14/01/2021 10:21 AM
cwc1981 Why suddenly move up so much? Any positive news?
14/01/2021 10:40 AM
INVEST_AA Goreng ma....
14/01/2021 10:56 AM
cwc1981 But actually this stock also got good prospects
14/01/2021 11:20 AM
DeepValueInvestor Just sell before the next QR is out like what INVEST_AA said. This counter QR is cyclical. The record earnings/revenue in the last QR most likely will not be repeated in the next quarter
14/01/2021 11:49 AM
OneSmallStep This year profit is expected to be more than last year. So, why afraid of seasonal (not cyclical) patterns in profit? High possibility that dividend will not be less than last year.
14/01/2021 11:47 PM
Lyo82 If like it, just buy more or hold, dont like it, just sell and go away. No need to influence other people.
15/01/2021 1:28 PM
15/01/2021 3:11 PM
donald770 Thanks to all who recommended buy.
15/01/2021 7:13 PM
Mr.Sm Invest123 Formosa Prosonic Industries Bhd (Trading Buy)

FPI is a Malaysia-based company that is involved in the manufacturing and sales of speaker systems. The group produces products such as wireless speakers, conventional speakers, musical instrument products and acoustic products.
In view of the rising Covid-19 cases globally, we foresee FPI may benefit from upgrades by consumers of their home-office sound systems as they spend more time at home.
The group registered a better 3QFY20 sales of RM281.1m ( 161% QoQ) following the resumption in business activities post the MCO lockdown. Its net income rose in tandem to RM25.8m ( 206%) due to better sales mix and economies of scales which resulted in better operational efficiency. Financially, the group has a strong balance sheet with short term funds and cash holdings of RM226.1m or 91 sen per share as of end-3QFY20.
Chart-wise, the stock has been in a range-bound between the 20-day and 50-day SMA lines recently. Yesterday’s bullish engulfing candlestick has lifted the stock to an all-time high of RM2.58. Given that the shorter-term key SMA continues to stand above the longer-term key SMA, we thus believe the stock could continue its upward momentum.
Based on our Fibonacci projections, our resistance levels are set at RM2.90 (R1; 14% upside potential) and RM3.10 (R2; 22% upside potential).
Meanwhile, our stop loss is set at RM2.20 (-13% downside risk).
17/01/2021 3:58 PM
donald770 grateful for the info
18/01/2021 5:15 AM
GorengHealthcare good good gooding.
18/01/2021 9:49 AM
Mr.Sm Invest123 Next TP 3.00. Soon
18/01/2021 11:33 AM
18/01/2021 2:44 PM
OneSmallStep Thank for the info..
18/01/2021 5:06 PM
Hush77 In 1 qtr it already make 10 sen a share...so 1 year maybe 40 sen a share..
share price now still undervalue
21/01/2021 10:56 AM
Hush77 this is the most undervalue "tech" stock...
tech all going up
22/01/2021 9:54 AM