Asia Pacific Wire & Cable Corporation Limited (APWC) | Investment Case

1. Company Snapshot

1.a. Company Description

Asia Pacific Wire & Cable Corporation Limited, through its subsidiaries, manufactures and distributes enameled wire, power cable, and telecommunications products in Thailand, Singapore, Australia, the People's Republic of China, Hong Kong, and other markets in the Asia Pacific region.The company offers copper rods; and telecommunications cable products, including copper-based and fiber optic cables for telephone and data transmissions; and armored and unarmored low voltage power transmission cable, which is used to transmit electricity to and within commercial and residential buildings, as well as to outdoor installations, such as streetlights, traffic signals, and other signs.It also provides enameled wire for use in the assembly of a range of electrical products consisting of oil-filled transformers, refrigerator motors, telephones, radios, televisions, fan motors, air conditioner compressors, and other electric appliances.

In addition, the company distributes wire and cable products; and offers project engineering services in the supply, delivery, and installation of power cables, as well as fabrication services for converting raw materials to wire and cable products.It serves government organizations, electric contracting firms, electrical dealers, and wire and cable factories.The company was incorporated in 1996 and is headquartered in Taipei, Taiwan.

Asia Pacific Wire & Cable Corporation Limited is a subsidiary of Pacific Electric Wire & Cable Co., Ltd.

Show Full description

1.b. Last Insights on APWC

Asia Pacific Wire & Cable Corporation Limited's recent performance was driven by robust sales growth, particularly in the telecommunications segment. The company's revenue increased 14.1% year-over-year, primarily due to the expansion of its customer base and the growing demand for wire and cable products. Additionally, APWC's efforts to diversify its product offerings and enhance its manufacturing capabilities contributed to the strong financial results.

1.c. Company Highlights

Last Price	1.88
Change Percentage	0.53%
Open	1.89
Previous Close	1.87
Market Cap ( Millions)	39
Volume	788
Year High	2.34
Year Low	1.36
M A 50	1.87
M A 200	1.73

FCF Yield	11.81%
Dividend Yield	0.00%
ROE	2.17%
Debt / Equity	27.00%
Net Debt / EBIDTA	54.78%
Price To Book	0.24
Price Earnings Ratio	10.56
Price To FCF	8.47
Price To sales	0.08
EV / EBITDA	2.92

2. Transcript Summary

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3. NewsRoom

Marco M. Elser Issues Open Letter to CEO Tony Yuan of Asia Pacific Wire & Cable Corporation Limited Urging Immediate Capital Allocation Reforms

Dec -01

Source: businesswire.com

Comparing Defense Technology Systems (OTCMKTS:DFTS) and Asia Pacific Wire & Cable (NASDAQ:APWC)

Oct -30

Source: defenseworld.net

Asia Pacific Wire & Cable Corporation Limited Announces Plans for Rights Offering to Shareholders

Aug -30

Source: globenewswire.com

Asia Pacific Wire & Cable Corporation Limited Appoints Ben Lee as Chief Financial Officer

May -07

Source: globenewswire.com

Asia Pacific Wire & Cable Corporation Limited Announces Full Year 2024 Financial Results and Filing of Annual Report on Form 20-F for 2024

Apr -02

Source: globenewswire.com

Asia Pacific Wire & Cable Corporation Limited Reports Second Quarter 2024 Financial Results

Aug -26

Source: globenewswire.com

Asia Pacific Wire & Cable Corporation Limited to Host 2024 Annual Shareholders Meeting on July 15, 2024

May -21

Source: globenewswire.com

Asia Pacific Wire & Cable Corporation Limited Announces Full Year 2023 Financial Results and Filing of Annual Report on Form 20-F for 2023

Apr -30

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.20%)

6. Segments

Rest of the World

Expected Growth: 5.2%

The Rest of the World segment is expected to grow driven by increasing demand for electricity and telecommunications infrastructure in emerging markets, coupled with government initiatives to develop rural electrification and digitalization projects.

Thailand

Expected Growth: 4.5%

Thailand's growing economy, increasing urbanization, and government investments in infrastructure development are driving the demand for wire and cable products, supporting the growth of Asia Pacific Wire & Cable Corporation Limited in the region.

North Asia

Expected Growth: 7.2%

Growing demand for wire and cable products in North Asia, driven by increasing infrastructure development, urbanization, and industrialization in China, Japan, Korea, and Taiwan, is expected to drive the market growth.

7. Detailed Products

Telecommunication Cables

Asia Pacific Wire & Cable Corporation Limited offers a wide range of telecommunication cables, including fiber optic cables, coaxial cables, and twisted pair cables, designed for high-speed data transmission and communication.

Power Cables

The company provides a variety of power cables, including low-voltage, medium-voltage, and high-voltage cables, designed for power transmission and distribution.

Electrical Wires

Asia Pacific Wire & Cable Corporation Limited offers a range of electrical wires, including building wires, industrial wires, and specialty wires, designed for electrical power distribution and transmission.

Cable Accessories

The company provides a range of cable accessories, including connectors, terminations, and joints, designed for cable installation and maintenance.

Wire Harnesses

Asia Pacific Wire & Cable Corporation Limited offers custom wire harnesses, designed for automotive, industrial, and commercial applications.

8. Asia Pacific Wire & Cable Corporation Limited's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Asia Pacific Wire & Cable Corporation Limited is moderate due to the availability of alternative products and services in the market.

Bargaining Power Of Customers

The bargaining power of customers for Asia Pacific Wire & Cable Corporation Limited is low due to the company's strong brand reputation and customer loyalty.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Asia Pacific Wire & Cable Corporation Limited is moderate due to the presence of multiple suppliers in the market.

Threat Of New Entrants

The threat of new entrants for Asia Pacific Wire & Cable Corporation Limited is high due to the low barriers to entry in the industry.

Intensity Of Rivalry

The intensity of rivalry for Asia Pacific Wire & Cable Corporation Limited is high due to the presence of several established competitors in the market.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	26.22%
Debt Cost	6.60%
Equity Weight	73.78%
Equity Cost	6.96%
WACC	6.87%
Leverage	35.54%

11. Quality Control: Asia Pacific Wire & Cable Corporation Limited passed 3 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Euro Tech Holdings

A-Score: 6.1/10

Value: 6.3

Growth: 6.0

Quality: 7.1

Yield: 5.0

Momentum: 5.0

Volatility: 7.3

1-Year Total Return ->

GPI

A-Score: 6.1/10

Value: 6.5

Growth: 6.7

Quality: 6.0

Yield: 4.4

Momentum: 4.0

Volatility: 9.0

1-Year Total Return ->

APWC

A-Score: 6.1/10

Value: 8.1

Growth: 6.3

Quality: 5.0

Yield: 0.0

Momentum: 9.0

Volatility: 8.0

1-Year Total Return ->

CBAK Energy Technology

A-Score: 5.4/10

Value: 8.9

Growth: 7.6

Quality: 5.0

Yield: 0.0

Momentum: 4.5

Volatility: 6.7

1-Year Total Return ->

Powell Industries

A-Score: 4.9/10

Value: 1.7

Growth: 8.4

Quality: 7.6

Yield: 2.0

Momentum: 7.5

Volatility: 2.3

1-Year Total Return ->

Carlo Gavazzi Holding

A-Score: 3.5/10

Value: 6.5

Growth: 2.2

Quality: 5.0

Yield: 3.1

Momentum: 0.5

Volatility: 3.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-4.32%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.87%

Asia Pacific Wire & Cable Corporation Limited - BMG0535E1066

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on APWC

1.c. Company Highlights

Lower Growth

Cheaper

Average Yield

Fairly Valued

Medium Volatility

Stable Momentum

Strong Momentum

Average Growth

Less Volatile

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.20%)

6. Segments

Rest of the World

Expected Growth: 5.2%

Thailand

Expected Growth: 4.5%

North Asia

Expected Growth: 7.2%

7. Detailed Products

Telecommunication Cables

Power Cables

Electrical Wires

Cable Accessories

Wire Harnesses

8. Asia Pacific Wire & Cable Corporation Limited's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Asia Pacific Wire & Cable Corporation Limited passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.88$

Current Price

1.88$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA