Obermatt

Flags

Earnings warning

Kaori Heat Treatment

TAI:8996 · TW0008996000
MachinerySmall

360

82
EV / EBIT5
Price / Owner Earnings16
Owner Earnings Yield29
Dividend Yield81
Price/Sales1
EV / Gross Profit2
Price/Book1
Return on Capital98
Cash Return on Capital96
Return on Equity98
EBIT Margin94
Gross Profitability69
Cash Conversion27
Accruals25
Owner Earnings Margin84
Sales growth100
Profit Growth75
Long-Term EPS Growth98
Owner Earnings Growth92
Reinvestment100
Price momentum100
Debt load55
Refinancing15
Debt Payback100
Liquidity81
Analyst ratings42
Opinion Changes30
Price Target Upside61
Market mood95
Value Creation20/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Kaori Heat Treatment generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryTaiwan
IndustryMachinery
SizeSmall
TypePublic Company
ExchangeTWSE
Founded1970
Employees56
ISINTW0008996000
Last UpdateApr 2, 2026
Index & Theme
Clean EnergyCleanTechFuel CellsHydrogenIndustrialMachinery ManufacturingManufacturing

Description

Analysis

Beloved champion

Kaori Heat Treatment Co., Ltd. sits in the top corner of our grid: excellent business, premium price; every investor already knows the story. Worth noting: the cash the business generates has lagged behind what the income statement shows.

On valuation, the picture is expensive. The owner-earnings multiple stands at 94.3×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 27% a year, against analyst forecasts of 112%. The price, in other words, assumes less than the experts do.

Growth is solid and accelerating; the safety picture is sturdy. The company scores 20/20 on our value-creation score: strong value creator.

Flags to be aware of: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
67
2023202420252026

All-time high

70

Mar 2026

All-time low

19

Jan 2023

Average rank

48

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
1
11
9
22
Price/Earnings
13
5
16
9
Price/Book
1
1
1
21
Dividend Yield
81
52
43
46
Value (overall)
10
5
7
19

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →