Risk factor
Very high price volatility
Profitability factor
Very strong margins and returns
About
Delta Electronics (Thailand) Public Company Limited is a Thai corporation dedicated to the research, development, manufacturing, and global distribution of a wide array of electronic products. The company strategically organizes its operations across three core divisions: Power Electronics, Infrastructure, and Automation. Within its Power Electronics division, Delta produces an extensive range of components, including various inductors, transformers, EMI filters, current sensing resistors, and power modules. This segment also provides switching power supplies, LED drivers, and advanced thermal management solutions such as DC brushless fans, blowers, and motors. Furthermore, it supplies critical components for electric and hybrid vehicles, like on-board chargers and DC/DC converters, alongside specialized power products for display and visualization, mobile, industrial, and medical applications, including healthcare devices. The Automation division delivers comprehensive industrial automation solutions, encompassing drives, power quality products, motion control systems, robotics, control software, and manufacturing equipment. It also manufactures a diverse set of field devices, such as temperature controllers, machine vision systems, pressure sensors, timers/counters/tachometers, industrial power supplies, power meters, and smart sensors. The Infrastructure division focuses on cutting-edge solutions for building management and control systems, intelligent surveillance, and LED lighting. It extends its offerings to robust telecom power systems, networking systems, UPS, and datacenter infrastructure. Additionally, this segment provides products for EV charging, energy storage, renewable energy, and industrial battery charging. Beyond its primary electronics business, the company also engages in property rental. Established in 1988 and headquartered in Samut Prakan, Thailand, Delta Electronics (Thailand) maintains a substantial international footprint, conducting operations across the United States, China, Germany, India, Ireland, Singapore, Norway, Taiwan, the Netherlands, and numerous other global markets.
Company Valuation
Based on key historical and expected multiples, the stock is greatly overvalued relative to its peers. Specifically, the stock is 'expensive' on P/E, overvalued on EV/EBI