AU Optronics Corp.

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AUO : NYSE : Electronic Technology
$4.59 | %
Today's Range: 4.54 - 4.61
Avg. Daily Volume: 914400.0
02/23/18 - 4:04 PM ET

Financial Analysis


AU OPTRONICS CORP's gross profit margin for the fourth quarter of its fiscal year 2017 has significantly decreased when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line. AU OPTRONICS CORP has average liquidity. Currently, the Quick Ratio is 1.36 which shows that technically this company has the ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.

At the same time, stockholders' equity ("net worth") has greatly increased by 43.60% from the same quarter last year. Together, the key liquidity measurements indicate that it is relatively unlikely that the company will face financial difficulties in the near future.

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Income Statement Q4 FY17 Q4 FY16
Net Sales ($mil)2921.282570.13
EBITDA ($mil)0.0640.36
EBIT ($mil)218.05355.94
Net Income ($mil)163.13344.4


Balance Sheet Q4 FY17 Q4 FY16
Cash & Equiv. ($mil)3543.222475.04
Total Assets ($mil)14893.7612526.57
Total Debt ($mil)3847.23851.52
Equity ($mil)7022.744890.37


Profitability Q4 FY17 Q4 FY16
Gross Profit Margin14.2234.91
EBITDA Margin0.024.91
Operating Margin7.4613.85
Sales Turnover0.770.81
Return on Assets7.332.45
Return on Equity15.546.28
Debt Q4 FY17 Q4 FY16
Current Ratio1.681.38
Debt/Capital0.350.44
Interest Expense0.031.91
Interest Coverage0.011.15


Share Data Q4 FY17 Q4 FY16
Shares outstanding (mil)962.43962.43
Div / share0.00.0
EPS0.160.35
Book value / share7.35.08
Institutional Own % n/a n/a
Avg Daily Volume878777.01039436.0

Valuation


HOLD. AU OPTRONICS CORP's P/E ratio indicates a significant discount compared to an average of 45.70 for the Electronic Equipment, Instruments & Components industry and a significant discount compared to the S&P 500 average of 25.51. For additional comparison, its price-to-book ratio of 0.65 indicates a significant discount versus the S&P 500 average of 3.26 and a significant discount versus the industry average of 4.01. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, AU OPTRONICS CORP proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
AUO 4.34 Peers 45.70   AUO 1.61 Peers 21.32

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

AUO is trading at a significant discount to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

AUO is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
AUO NA Peers 23.07   AUO NM Peers 1.35

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

AUO is trading at a valuation on par with its peers.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

AUO's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
AUO 0.65 Peers 4.01   AUO 254.83 Peers 60.38

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

AUO is trading at a significant discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

AUO is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
AUO 0.40 Peers 3.56   AUO 13.27 Peers 14.19

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

AUO is trading at a significant discount to its industry on this measurement.

 

Average. Comparing a company's sales growth to its industry helps to determine if the company is adding or losing market share.

AUO is keeping pace with its peers on the basis of sales growth.

 

 

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