TRT  Trio-tech International

Exchange

AMEX

Sector

Technology

Industry

Industrial Machinery/Components

Market Cap.

18.28M

Vuru Grade

38.43/100

Current Price

$5.19
+0.10 (+1.97%)

Growth Price

$8.75
Undervalued by 68.69%

Stability Price

$1.44
Overvalued by 72.16%

Company Metrics

  • P/E 14.42
  • P/S 0.47
  • P/B 0.89
  • EPS 0.36
  • Cash ROIC 4.81%
  • Cash Ratio 0.50
  • Dividend 0 / 0%
  • Avg. Vol. 19,768.00
  • Shares 3.52M
  • Market Cap. 18.28M

Company Description

Trio-Tech International provides third-party semiconductor testing and burn-in services through its laboratories in Southeast Asia. The company operates in five segments: Testing Services, Manufacturing, Distribution, Real Estate, and Fabrication services. The Testing Services segment offers test services, including stabilization bake, thermal shock, temperature cycling, mechanical shock, constant... more


Download 10 Years of Financial Statements:
Income Statement   Balance Sheet   Cash Flow

News

Trio-Tech International
Wall Street Journal - Feb 12, 2011
Trio-Tech International TRT (U.S.: NYSE American). search. View All companies. AT CLOSE 3:59 PM EDT 10/20/17. $5.19 USD; 0.10 1.97%.
Trio-Tech International (AMEX:TRT) Quant Signal Evaluation & Review
Lenox Ledger - 1 hour ago
Here we will take a look at several key ratios for Trio-Tech International (AMEX:TRT), starting with the Book to Market (BTM) ratio.
Trio-Tech International (TRT) Getting Somewhat Positive Media Coverage, Accern ...
Dispatch Tribunal - Oct 20, 2017
Trio-Tech International logo Press coverage about Trio-Tech International (NYSE:TRT) has trended somewhat positive on Friday, Accern reports.
Analyzing the Insider Data for Trio-Tech International (TRT) - NY Stock News
Trio-Tech International (TRT) Upgraded by TheStreet to “B-“ - TrueBlueTribune
What Kind of Picture Are the Technicals Painting For Trio-Tech International ...
Financial Newsweek - 20 hours ago
Trio-Tech International (TRT)'s moving averages reveal that the Tenkan line of the shares are above the Kijun-Sen line, indicating potential upward momentum building in the bullish chart.
What's Unfolding For Shares of Trio-Tech International (AMEX:TRT)
Financial Newsweek - Oct 22, 2017
After a recent scan, we can see that Trio-Tech International (AMEX:TRT) has a Shareholder Yield of -0.28% and a Shareholder Yield (Mebane Faber) of 0.37%.
MFA Financial, Inc. (MFA) Analysts See $0.19 EPS; Trio-tech International ...
MoneyMakingArticles - 13 hours ago
Trio-tech International (NYSEAMERICAN:TRT) had a decrease of 60.53% in short interest. TRT's SI was 1,500 shares in October as released by FINRA.
What the Insider Data Suggests About Trio-Tech International (TRT)
NY Stock News - Oct 16, 2017
Recent trading patterns in the stock of Trio-Tech International (NYSE:TRT) have investors on high alert. Many experts agree that the best way to predict future performance is by studying the past.
Trio-Tech Fourth Quarter Net Income Increased 96% to $0.09 Per Diluted Share ...
Business Wire (press release) - Sep 20, 2017
Net income attributable to Trio-Tech International common shareholders for the fourth quarter of fiscal 2017 increased 96.1% to $353,000, or $0.09 per diluted share, compared to $180,000, or $0.05 per diluted share, for the fourth quarter last year ...
Trio Tech International (NYSEMKT:TRT) Institutional Investor Sentiment Analysis
WeeklyHub - Oct 7, 2017
Trio Tech International (NYSEMKT:TRT) institutional sentiment increased to 9 in 2017 Q2. Its up 5.00, from 4 in 2017Q1. The ratio is more positive, as 9 investment managers started new or increased stock positions, while 1 cut down and sold positions ...
Trio Tech International Stock as Institutional Investors Enter - Weekly Register
Trio-Tech International (TRT) Lifted to “Hold” at ValuEngine
The Ledger Gazette - Sep 25, 2017
ValuEngine upgraded shares of Trio-Tech International (NYSEMKT:TRT) from a sell rating to a hold rating in a research note published on Friday.
Trio-Tech International (TRT) Earning Somewhat Favorable Media Coverage ... - StockNewsTimes
Trio-Tech International - Receive News & Ratings Daily - BBNS
Growth Rate Assumed by Market

We did a reverse valuation to calculate the growth rate the market is assuming for TRT to be considered fairly valued at its current market price. It's useful to compare this to the growth rate we're assuming for the Growth Price.

Future Free Cash Flow Growth Rate

This is the annual growth rate we've applied to calculate TRT's Free Cash Flow for the next 10 years. To calculate it, we looked at several time periods of the last 10 years. Feel free to adjust it, but we limit the initial growth rate to 20% and slow it down over the years. Otherwise, long-term sustainability issues come into play.

Discount Rate

The discount rate is the annual rate of return an investor requires to take the risk of investing in a single stock. To account for that risk, this should be above 8-10%, as this is the avg. annual rate of return for the S&P500 over the past 100 years.

$5.19 Current Price

$8.75 Growth Price (DCF)

Undervalued by 68.69%


Growth Rate Assumed by Market: -500.00%


Future Free Cash Flow Growth Rate: 0.0%


Discount Rate: 15.0%


Show Free Cash Flow numbers

$1.44 Stability Price (EPV)

Overvalued by 72.16%


Discount Rate: 15.0%

$1.03 NCA Price

Overvalued by 80.09%

$2.89 Book Price

Overvalued by 44.26%


Poor Cash Return on Invested Capital over the past 5 years

TRT has been unable to consistently generate sufficient returns from its investments in buildings, projects and equipment. This could be due to poor management, lack of an economic moat or the capital intensive nature of the business.

TRT has only created $4.81 of cash for every $100 invested.
Figures in USD. Fiscal year ends in June
20132014201520162017
Free Cash Flow 1.65M 770,000.00 1.40M -643,000.00 1.67M
divided by
Invested Capital 20.75M 20.83M 20.06M 19.55M 19.18M
Cash ROIC 7.97% 3.70% 6.96% -3.29% 8.70%

Poor Return on Equity over the past 5 years

TRT has shown an inability to deliver strong results for shareholders. This could be due to poor management, TRT operating in a highly competitive industry, or having a weak business in general.

TRT has only generated $2.45 of Earnings for every $100 of Shareholders' Equity.
Figures in USD. Fiscal year ends in June
20132014201520162017
Net Income -1.10M 201,000.00 824,000.00 1.06M 1.46M
divided by
Stockholders' Equity 18.64M 19.10M 18.99M 19.26M 20.10M
Return on Equity -5.91% 1.05% 4.34% 5.51% 7.24%

Mediocre Business Performance over the past 10 years

TRT isn't a strong business and might be consistently attempting to fuel growth with debt or has trouble staying profitable. The lack of predictability in free cash flow should be concerning for the reliability of future earnings.

TRT has been unable to consistently create value for shareholders.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Free Cash Flow -1.45M -343,000.00 -7.20M 555,000.00 -5.26M 1.65M 770,000.00 1.40M -643,000.00 1.67M

Good Balance Sheet

TRT's Total Assets double Total Liabilities. Its financial position is adequate. Remember to check Shareholders' Equity to see if it's stable or growing. It's one of the best measures of whether a company is creating value for shareholders.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Cash 14.35M 8.03M 6.85M 3.31M 1.82M 2.90M 3.04M 3.71M 3.81M 4.77M
Current Assets 23.43M 13.64M 23.46M 14.43M 18.06M 16.58M 13.29M 13.56M 15.34M 17.04M
Total Assets 34.76M 27.95M 41.72M 36.36M 38.05M 36.04M 34.59M 32.04M 32.22M 33.50M
Current Liabilities 7.53M 4.34M 14.80M 7.17M 12.86M 12.39M 10.72M 8.27M 8.86M 9.55M
Total Liabilities 12.62M 8.08M 21.46M 14.35M 19.21M 17.41M 15.49M 13.05M 12.96M 13.40M
Stockholder' Equity 22.14M 19.86M 20.27M 22.01M 18.84M 18.64M 19.10M 18.99M 19.26M 20.10M
Current Ratio 3.11 3.14 1.59 2.01 1.40 1.34 1.24 1.64 1.73 1.78
TL-to-TA 0.36 0.29 0.51 0.39 0.50 0.48 0.45 0.41 0.40 0.40

Low or No Reinvestment of Profits over the past 10 years

TRT has either been retaining a small amount of their earnings or has done so inconsistently. A lack of consistency could be due to TRT operating at a loss or them having such a strong economic moat they feel comfortable spending profits on growth. Be wary of future prospects and if applicable, inspect the moat's sustainability.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Retained Earnings 8.83M 6.86M 6.49M 5.79M 2.69M 1.67M 1.73M 2.25M 3.03M 4.34M
Retained Earnings Growth - -22.28% -5.44% -10.72% -53.60% -37.92% 3.42% 30.20% 34.68% 43.50%

Loss Making Entity over the past 10 years

TRT has been unable to maintain profitability. It's Costs of Sales have outstripped Revenue consistently. This is a huge red flag, unless the company has been investing heavily for the future. However, even that is dubious since accurately predicting the future of a company like that is extremely difficult.

$2.11 of every $100 of Revenue have been a loss, on average over the past 10 years.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Net Income -956,000.00 -1.97M -592,000.00 -326,000.00 -4.38M -1.10M 201,000.00 824,000.00 1.06M 1.46M
divided by
Revenue 40.31M 20.05M 36.93M 35.54M 34.21M 31.77M 36.26M 33.93M 34.45M 38.54M
Net Profit Margin -2.37% -9.81% -1.60% -0.92% -12.79% -3.47% 0.55% 2.43% 3.08% 3.78%

Satisfactory Pricing Power over the past 10 years

Consistency is vital. TRT has been able to maintain gross margins fairly consistently, which is a strong indication of their ability to raise prices with inflation. This potentially leaves flexibility in inflationary environments to raise prices on consumers and maintain profitability.

$22.08 of every $100 worth of sales have been Gross Profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Gross Profit 8.88M 4.76M 7.02M 8.32M 4.59M 6.35M 8.30M 8.93M 8.77M 9.46M
divided by
Revenue 40.31M 20.05M 36.93M 35.54M 34.21M 31.77M 36.26M 33.93M 34.45M 38.54M
Gross Margin 22.01% 23.76% 19.00% 23.41% 13.40% 19.99% 22.89% 26.30% 25.45% 24.55%

High Capital Intensity over the past 10 years

TRT spends large amounts of capital buying new equipment or investing in new facilities to stay competitive. Over the long term, those costs may have to be fuelled by debt. Look at the growth of Shareholders' Equity to see if this strategy is having a positive or negative impact.

544.37% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Capital Expenditure 3.36M 1.36M 7.25M 4.00M 1.60M 1.84M 3.09M 2.69M 1.66M 2.29M
divided by
Net Income -956,000.00 -1.97M -592,000.00 -326,000.00 -4.38M -1.10M 201,000.00 824,000.00 1.06M 1.46M
Capital Expenditure Ratio -351.15% -69.07% -1,223.82% -1,225.77% -36.64% -166.79% 1,537.31% 326.94% 156.17% 157.04%

Inconsistent Dividend History over the past 10 years

TRT has started distributing dividends in the past couple years or has recently suspended their dividend distribution. The reliability of future distributions is unclear.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Dividend Paid 354,000.00 - - - - - 312,000.00 6,000.00 - -
divided by
Shares Outstanding 3.23M 3.23M 3.23M 3.29M 3.29M 3.32M 3.55M 3.53M 3.54M 3.64M
Dividend Paid Per Share 0.11 - - - - - 0.09 0.00 - -
Price at Year End 1.66 3.23 4.20 2.39 1.55 3.36 2.94 2.84 3.32 4.49
Dividend Yield 6.61% - - - - - 2.99% 0.06% - -

History of Stock Buybacks over the past 10 years

TRT has some history of delivering increased value for shareholders in the form of stock buybacks. These have helped improve financial metrics and increase each shareholders' relative ownership stake in the company, due to fewer shares outstanding and holding the same number of shares.
Figures in USD. Fiscal year ends in June
2008200920102011201220132014201520162017
Shares Outstanding 3.23M 3.23M 3.23M 3.29M 3.29M 3.32M 3.55M 3.53M 3.54M 3.64M
Stock Bought Back - -0.03% - -1.86% - -1.02% -6.40% 0.57% -0.17% -2.99%
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