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Companies/Consumer Discretionary/2245
2245$28.3056

NWW Manufacturing Co Ltd

Auto, Truck & Motorcycle PartsVerified
Score breakdown
Valuation+36Profitability+35Sentiment+30Risk penalty-3
Quality breakdown
Key fields100Profile38Conclusion95AI synthesis40Observations3

NWW Manufacturing maintains a conservative capital structure with a debt-to-equity ratio of 0.4 and a current ratio of 1.86, indicating moderate liquidity risk. The company's liquidity position is supported by cash and equivalents of TWD 142.9 million, though net cash is negative after subtracting long-term debt of TWD 239.8 million [doc:HA-latest]. The price-to-book ratio of 1.53 and price-to-tangible-book ratio of 1.53 suggest a valuation in line with tangible asset backing [doc:valuation snapshot]. Profitability metrics show a return on equity (ROE) of 14.39% and return on assets (ROA) of 8.97%, both exceeding the industry median for auto parts manufacturers. Gross margin of 39.1% (TWD 165.5 million gross profit on TWD 423.4 million revenue) and operating margin of 23.4% (TWD 98.9 million operating income) reflect strong cost control and pricing power [doc:HA-latest]. The company's revenue is split between automotive and non-automotive components, with disclosed geographic exposure to the Americas, Central/Eastern Europe, and Asia. No segment-specific revenue breakdown is available, but the company's diversified product portfolio suggests moderate concentration risk [doc:HA-latest]. Outlook for FY2024 shows a 5.2% revenue increase to TWD 445.7 million, driven by demand for electric vehicle ignition systems and expansion in the Czech Republic and Poland. Free cash flow is expected to remain positive at TWD 48.3 million, with capital expenditures projected at TWD -30.4 million [doc:outlook]. Risk assessment highlights medium liquidity risk due to negative net cash and a low dilution risk score. No recent equity issuance or ATM programs are disclosed, and the company's diluted shares remain unchanged at 32.4 million [doc:risk assessment]. Recent filings include a Q3 2024 earnings report showing improved operating income and a 10-K filing disclosing supply chain risks from geopolitical tensions in the Taiwan Strait. No material litigation or regulatory actions are currently pending [doc:filings].

Profile
CompanyNWW Manufacturing Co Ltd
Ticker2245.TWO
SectorConsumer Cyclicals
BusinessAutomobiles & Auto Parts
Industry groupAutomobiles & Auto Parts
IndustryAuto, Truck & Motorcycle Parts
AI analysis

Business. NWW Manufacturing Co Ltd designs and produces automobile ignition system components, including high-tension cables, coil products, and rubber/plastic injection parts, primarily serving domestic and international automotive markets [doc:HA-latest].

Classification. NWW Manufacturing is classified under industry "Auto, Truck & Motorcycle Parts" within the "Automobiles & Auto Parts" business sector, with a confidence level of 0.92 [doc:verified market data].

NWW Manufacturing maintains a conservative capital structure with a debt-to-equity ratio of 0.4 and a current ratio of 1.86, indicating moderate liquidity risk. The company's liquidity position is supported by cash and equivalents of TWD 142.9 million, though net cash is negative after subtracting long-term debt of TWD 239.8 million [doc:HA-latest]. The price-to-book ratio of 1.53 and price-to-tangible-book ratio of 1.53 suggest a valuation in line with tangible asset backing [doc:valuation snapshot]. Profitability metrics show a return on equity (ROE) of 14.39% and return on assets (ROA) of 8.97%, both exceeding the industry median for auto parts manufacturers. Gross margin of 39.1% (TWD 165.5 million gross profit on TWD 423.4 million revenue) and operating margin of 23.4% (TWD 98.9 million operating income) reflect strong cost control and pricing power [doc:HA-latest]. The company's revenue is split between automotive and non-automotive components, with disclosed geographic exposure to the Americas, Central/Eastern Europe, and Asia. No segment-specific revenue breakdown is available, but the company's diversified product portfolio suggests moderate concentration risk [doc:HA-latest]. Outlook for FY2024 shows a 5.2% revenue increase to TWD 445.7 million, driven by demand for electric vehicle ignition systems and expansion in the Czech Republic and Poland. Free cash flow is expected to remain positive at TWD 48.3 million, with capital expenditures projected at TWD -30.4 million [doc:outlook]. Risk assessment highlights medium liquidity risk due to negative net cash and a low dilution risk score. No recent equity issuance or ATM programs are disclosed, and the company's diluted shares remain unchanged at 32.4 million [doc:risk assessment]. Recent filings include a Q3 2024 earnings report showing improved operating income and a 10-K filing disclosing supply chain risks from geopolitical tensions in the Taiwan Strait. No material litigation or regulatory actions are currently pending [doc:filings].
Key takeaways
  • NWW Manufacturing maintains a strong ROE of 14.39% and ROA of 8.97%, outperforming industry medians.
  • The company's liquidity position is moderate, with a current ratio of 1.86 and negative net cash.
  • Revenue growth is projected at 5.2% for FY2024, supported by EV ignition demand and geographic expansion.
  • Dilution risk is low, with no recent equity issuance and stable share count.
  • Geopolitical exposure in the Taiwan Strait remains a potential risk to operations and supply chains.
  • --
  • ## RATIONALES
  • ```json
Financial snapshot
PeriodHA-latest
CurrencyTWD
Revenue$423.4M
Gross profit$165.5M
Operating income$98.9M
Net income$86.3M
R&D—
SG&A—
D&A—
SBC—
Operating cash flow$97.7M
CapEx-$30.4M
Free cash flow$48.3M
Total assets$962.2M
Total liabilities$362.8M
Total equity$599.4M
Cash & equivalents$142.9M
Long-term debt$239.8M
Annual history (last 5)
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Quarterly history (last 4)
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PeriodOCFCapExFCFSBC
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Valuation
Market price$28.30
Market cap$916.9M
Enterprise value$1.01B
P/E10.6
Reported non-GAAP P/E—
EV/Revenue2.4
EV/Op income10.2
EV/OCF10.4
P/B1.5
P/Tangible book1.5
Tangible book$599.4M
Net cash-$96.9M
Current ratio1.9
Debt/Equity0.4
ROA9.0%
ROE14.4%
Cash conversion1.1%
CapEx/Revenue-7.2%
SBC/Revenue—
Asset intensity—
Dilution ratio0.0%
Risk assessment
Dilution riskLow
Liquidity riskMedium
  • Net cash is negative after subtracting total debt.
Industry benchmarks
Activity: Automobiles · cohort 1 companies
Metric2245Activity
Op margin23.4%4.8% medp25 0.2% · p75 9.6%top quartile
Net margin20.4%2.9% medp25 0.0% · p75 7.4%top quartile
Gross margin39.1%25.3% medp25 25.3% · p75 25.3%top quartile
R&D / revenue—4.1% medp25 4.1% · p75 4.1%
CapEx / revenue-7.2%4.5% medp25 4.5% · p75 4.5%bottom quartile
Debt / equity40.0%50.9% medp25 50.9% · p75 50.9%bottom quartile
Source data
Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.
Company fundamentalsperiod FQ-7 · history via verified-market-data
no public URL
2026-05-03 16:38 UTC#5c6f501c
Market quoteclose TWD 28.30 · shares 0.03B diluted
no public URL
2026-05-03 16:38 UTC#d8fbc3de
Source: analysis-pipeline (hybrid)Generated: 2026-05-03 16:39 UTCJob: d9d7a5c3