AI 銘柄分析 · 10年

Delta Electronics, Inc. / 台達電子工業股份有限公司

2308 · TWD · 分析基準日 2026-11-06

台達電子：電源・インフラ需要と投資を踏まえた10年評価

10年期待年率2.51%

資本コスト9.00%

直近終値1,055.00 TWD2026-11-06

AIによるシナリオ分析です。基準日以降の出来事、株価や為替の変化は個別に確認が必要です。各数値は元の分析の単位と前提に従います。

分析の要約

会社Q3決算と台湾証取終値を起点に、電源・インフラ事業を5シナリオで評価。Q3財務は一部未レビューに伴う限定付レビュー、基準日の株数は代理値で、台湾ETFの実効源泉税は未反映。配当・買戻し・将来の成長は予測です。

要約の補足

research_cutoff: 2026-11-06 Taiwan market close; 2026-11-06 after_close_news isolated as nonprice_known
price_verified_2026_11_06: はい
insight: 9M2026で高成長・営業利益増。評価は親会社持分だけ、タイ子会社NCI利益を二重計上せずに要再投資を織込む。
asof_company_data: 2026-10-28 reviewed 2026 3Q IFRS; 2026-10-29 IR conference
analysis_edge_dates: 2026-11-07 to 2036-11-06 inclusive=3653 modeled days, with first55 and last311
historical_dividend: 2026-06-17 ex, 2026-07-22 pay, before asof; not included again
known_dividend_entitlement_asof: 未確認
known_dividend_entitlement_asof_reason: No confirmed unpaid post-2026-11-06 parent ordinary dividend identified in 2026Q3 filing; later years unapproved.
ETF_Taiwan_effective_local_withholding: 未確認
ETF_Taiwan_tax_treatment: fund-specific local effective withholding under EWT not confirmed; all holder valuations pre-local withholding; do not model US/Japan personal tax.
verified_vs_proxy_vs_forecast: 2026Q3 reporting actual, Nov6 stock close verified, November balances and shares proxy, events and future cash all explicit forecast.
late_2026_11_06_news: Guanyin plant MOPS disclosure at 17:08 local 2026-11-06 is after TWSE close; omitted from closing information set and treated as next-recheck gate.

結論の補足

recommendation: 金融価値からの合理性を検証。AI成長プレミアムと設備投資・非支配持分に厳格。
stance: scenario_weighted_discounted_old_holder_equity_value_vs_TWSE_market
asof_close_twd: 1055
initial_marketcamp_oku: 27404.08212095
expected_pv_oku: 16216.360658567
expected_value_per_initial_share_twd: 624.29605995484
expected_value_premium_discount_to_market: -0.40825018013759
probability_weighted_cashflow_IRR_site_terminal_exact_t10: 0.02510385602409
probability_weighted_cashflow_IRR_actual_terminal_36525: 0.02510111002111
scenario_individual_IRR_probability_weighted_arithmetic_not_used_for_IRR: 0.00034476697419
coc_k: 0.09
model_fair_price_not_quoted_target: はい
key_uncertainty: 2036年以降AIラック向け電力・液冷成長の持続性とROE競争収斂を数値化。将来の株数・配当日はすべて予測。

事業

company: 製造設備向け電源変換・工業制御・データセンター用電源/冷却等。収益区分は4つのIFRS開示セグメント
9m2026_revenue_oku: 5396.67536
9m2026_revenue_yoy_growth: 0.37391277901976
9m2026_operating_margin: 0.16974798165365
9m2026_parent_ni_oku: 691.85826
data_center_cooling: 会社IR質疑では2026Q3冷却関連約250億TWD、同四半期売上約13%; 内部集計で監査セグメントではない。AI横断領域約50%はセグメント別売上と足さない。
source_company_qualitative: Q3 2026 management English translated transcript Oct29; liquid cooling suppliers power platform, ±400VDC high voltage DC early trials, SOFC pilot not assured.
quantity_price_mix_logic: segment growth=(1+physical_volume_growth)*(1+price_mix_growth)-1; model annual per-segment table contains both; no assured 10-year 2026AI CAGR.
working_capital: Inventories 1,682.02oku at Sep2026 versus1,014.78oku Dec2025; dynamic inventory execution, AR and capex are material.
capex: 9m2026 paid for PPE 448.78oku and intangibles7.93oku (not synonymous with IFRS D&A); future funded in each scenario.
major_customer_concentration: 未確認
major_customer_concentration_unconfirmed: No independently audited customer revenue percentage was established; do not invent explicit Nvidia/Meta share.
mna: 2026 9m includes acquisitions Noda RF 90.23pct stake, Delta Controls Germany 100pct; modeling no standalone speculative acquisition gain.
financing: DET Thailand subsidiary exchangeable bonds and options are on subsidiary equity/NCI, not 2308 newly issued parent common stock.

競争力・事業の質

strengths

1: 高効率電力変換IP・顧客認証・グローバル製造立地
2: AIラックのkW上昇と配電・液冷のクロスセル
3: 2026年前9か月親会社利益692億TWD、現金2090億TWD

risks

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1: NCI662億TWDとDET交換社債: 連結利益/キャッシュを母公司普通株に100%帰属させない
2: 9M2026棚卸資産1682億TWD、前年末から+667億TWD、供給停滞/評価損リスク
3: 設備投資の負担増、電力網/建設日程で検収遅延
4: 競合が液冷と電源に参入し17%前後の営業利益率を圧迫
5: 2026Q3レビューの限定結論: 一部子会社/持分法投資のレビュー未実施、監査意見と混同しない
6: 台湾ドル/米ドル・タイバーツ為替、米中輸出管理/関税
7: 2036 terminal ROE fadeや9%kという大きな主観パラメータ

business_moat

顧客承認・高出力電源設計・液冷統合のスイッチングコストは強みだが永久の独占利潤を認めず、競争でROEは18年かけてCoCへ収斂。

reported_IFRS_review_outcome

qualified_review_due_to_certain_unreviewed_nonsignificant_subsidiaries_and_associates

no_audit_misrepresentation

はい

業界と環境

data_center_power

1: AIアクセラレータのTDP増加→rack kW増大
2: 配電/高圧直流とAC-DC/DC-DCの効率改善
3: 顧客の内製化・原材料調達

cooling

1: 空冷から液冷への移行は設置サイト制約に左右
2: CDU/冷媒・保守標準化と信頼性保証
3: 電力網・施工人員の希少性

automation

1: 製造業景気・設備投資の循環
2: 長期保守サービス、製品差別化
3: ABB/Siemens/Omron/三菱など競合

mobility

1: EV車種ミックスと充電設備投資
2: 2026年9Mセグメント営業赤字約12.67億TWD

pricing_model

具体的な契約単価は非開示; annual price/mix growth is assumed, not reported unit ASP.

industry_demand_guarantees

none

財務・資本配分

reported_2026_Q3_IFRS

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日付: 2026-09-30
種類: reported_IFRS_reviewed_2026Q3
sales_9m_oku: 5396.67536
operating_profit_9m_oku: 916.07475
pretax_profit_9m_oku: 997.5893
income_tax_9m_oku: 226.9709
profit_total_9m_oku: 770.6184
parent_profit_9m_oku: 691.85826
nci_profit_9m_oku: 78.76014
assets_oku: 8356.60191
total_liabilities_including_operating_oku: 4512.30114
親会社持分（億）: 3181.97309
非支配持分資本（億）: 662.32768
cash_and_equivalents_oku: 2090.2269
short_borrowings_oku: 127.79441
current_maturities_long_debt_bonds_and_loans_oku: 264.61754
noncurrent_bonds_oku: 487.97334
noncurrent_long_borrowings_oku: 225.87185
lease_noncurrent_oku: 33.69703
paid_ppe_capex_9m_oku: 448.77977
paid_intangibles_9m_oku: 7.92646
nci_dividends_paid_9m_oku: 27.25886
issued_shares_report_2026Q3_thousands: 2597543
issued_shares_legal_register_exact: 2597543329
treasury_shares_2026Q3_proxy: 0
ordinary_shares_2026Q3_proxy: 2597543329
shares_diluted_2026_9m_employee_remuneration_potential_thousands: 4323
subsidiary_option_outstanding_shares_9m: 5096000
subsidiary_equity_settled_sbc_expense_9m_oku: 0.07926
employee_remuneration_accrued_9m_oku: 74.53931
2026_dividend_per_share_paid_twd: 11.6
2026_dividend_ex_date: 2026-06-17
2026_dividend_payment_date: 2026-07-22
2026_dividend_total_disclosed_oku: 301.315026164
interest_bearing_borrowings_ex_lease_oku: 1106.25714
net_cash_ex_lease_oku: 983.96976
non_interest_liabilities_incl_lease_oku: 3406.044

prior_dividend_ex_and_paid_not_eligible_cashflow

per_share_twd: 11.6
ex_date: 2026-06-17
pay_date: 2026-07-22

ordinary_parent_treasury_shares_2026_09_30_proxy

mother_company_potential_diluted_EPS_employee_remuneration_shares_9m_thousands

4323

employee_remuneration_stock_awards_actual_outstanding_not_automatically_issued

はい

subsidiary_stock_options_actual_outstanding_not_parent_ordinary

5096000

financial_debt_definition

Short loan + current portion bonds&loans + noncurrent bonds + long-term loans, excludes lease obligations, excludes suppliers & other trade liabilities.

2026_11_06_proxy_balance

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cash: 2166.6468924
debt: 1106.25714
parent_equity: 3293.8255683833
nci_equity: 675.07636139935
issuer_shares: 2597543329
old_shares: 2597543329
total_liabilities_other: 3406.044
other_noncash_assets: 6314.5561773826
company_assets: 8481.2030697826

nci_accounting

NCI net profit and NCI equity are kept outside parent profit/equity; NCI dividend paid only from group cash. Thai subsidiary exchangeable bond conversion amount 0 in core path, because no confirmed conversion event and double-counting risk.

debt_and_cash

entity-wide IFRS group cash and financing borrowings are reported as such, not mistakenly deemed entirely freely remittable to listed parent.

subsidiary_exchangeable_bonds

2026 new offshore USD bonds may be exchangable into DELTA THAILAND subsidiary equity, not 2308 common; record in group bonds/debt/NCI. No automatic parent diluted share change.

parent_sbc_treatment

Future hypothetical new stock grants expensed in period operating profit AND as noncash CFO addback + APIC equity credit; actual free issuance increases denominator. Issuer repurchases are actual cash and decrease equity/shares. No expense second deduction.

share_buyback_treatment

Proportional participation of ORIGINAL 2026 shareholders; cash proceeds received as timed positive cashflow, remaining original cohort shares and issuer shares are retired pro-rata, no double counting.

parent_equity_clean_surplus

opening + (parent IFRS NI after SBC) + parent SBC equity credit + cash new issuance + OCI - declared dividends - repurchase expense

nci_equity_clean_surplus

opening+NCI NI+subsidiary SBC equity credit - NCI dividends + NCI conversions. In scenarios all conversions 0 unless independently confirmed.

cash_identity

opening cash + GROUP NI + D&A + SBC noncash addback - delta operating WC - PP&E/intangible capex - parent&NCI dividend - issuer repurchase cash + new financial borrowing - debt cash repayment

total_company_asset_liability_plug

Other non-cash assets and operating liabilities after 2026Q3 are pro forma residuals only; no model-derived number is described as reported IFRS.

lease_liability_excluded_from_debt_proxies

Lease obligation tracked within other liabilities rather than interest-bearing bond/bank debt to avoid double subtraction; scenario debt excludes leases.

cash_and_equivalents_not_all_available_to_parent

Subsidiaries with NCI own some cash; valuation instead uses parent equity + parent earnings residual model.

no_unverified_postcutoff_dividend_asof

はい

評価の前提と確認

forbid_terminal_market_PER_PBR_mean_reversion

はい

terminal_market_PE_PB_multiplier_applied

いいえ

source_exchange_PE_is_only_crosscheck

31.68

terminal_valuation

18 future years of parent common distributable cash using ROE fade to nominal TWD CoC, net reinvestment g*book, and repurchase cost to neutralize SBC; mature value from return-on-capital=CoC, not 10x/15x/30x P/E

initial_price_value_oku

27404.08212095

no_terminal_plus_2037_dividend

2036-11-06 cum-right exit value includes future 2037 cashflows; seller does not also receive pre-ex-date 2037 dividend

initial_2026_dividend_removed

はい

sensitivity

k 8-10%, reinvestment fade and price of SBC neutralizing buyback stressed below in valuation sensitivities

discount_rate_sensitivity

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id: stress
discount_k: 0.08
whole_company_terminal_oku: 4855.302026732
same_original_holder_terminal_oku: 4853.3903273232
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: stress
discount_k: 0.09
whole_company_terminal_oku: 4247.1248272838
same_original_holder_terminal_oku: 4245.452588157
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: stress
discount_k: 0.1
whole_company_terminal_oku: 3727.1285863972
same_original_holder_terminal_oku: 3725.661087676
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: bear
discount_k: 0.08
whole_company_terminal_oku: 10786.704662245
same_original_holder_terminal_oku: 10781.664135198
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: bear
discount_k: 0.09
whole_company_terminal_oku: 9698.4696777249
same_original_holder_terminal_oku: 9693.9376727932
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: bear
discount_k: 0.1
whole_company_terminal_oku: 8756.9946566323
same_original_holder_terminal_oku: 8752.9025942463
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: base
discount_k: 0.08
whole_company_terminal_oku: 21758.943145614
same_original_holder_terminal_oku: 21747.517671595
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: base
discount_k: 0.09
whole_company_terminal_oku: 19872.760069321
same_original_holder_terminal_oku: 19862.32501729
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: base
discount_k: 0.1
whole_company_terminal_oku: 18224.859337661
same_original_holder_terminal_oku: 18215.28958717
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: bull
discount_k: 0.08
whole_company_terminal_oku: 39108.520618324
same_original_holder_terminal_oku: 39084.831155283
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: bull
discount_k: 0.09
whole_company_terminal_oku: 36035.083717899
same_original_holder_terminal_oku: 36013.255948133
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: bull
discount_k: 0.1
whole_company_terminal_oku: 33330.723877615
same_original_holder_terminal_oku: 33310.534237634
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: superbull
discount_k: 0.08
whole_company_terminal_oku: 81210.956138283
same_original_holder_terminal_oku: 81151.858789713
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: superbull
discount_k: 0.09
whole_company_terminal_oku: 75188.446518314
same_original_holder_terminal_oku: 75133.731760065
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

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id: superbull
discount_k: 0.1
whole_company_terminal_oku: 69865.116762899
same_original_holder_terminal_oku: 69814.275800613
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

資本コストの前提

資本コスト: 9.00%
risk_free_nominal_TWD: 未確認
equity_risk_premium: 未確認
k_data_class: judgment_scenario_discount_hurdle_not_market_observation
risk_free_unconfirmed_reason: forward TWD sovereign curve maturity not separately sourced; integrated 9% model hurdle is a subjective stress benchmark
単位: decimal_nominal_TWD_after_corporate_tax_before_ETF_level_Taiwan_source_tax

事業別データ

事業別の内訳と、収録されている年度別データを確認できます。

事業別データを開く →

10年のシナリオ

シナリオごとの確率、期間内の株主還元・追加負担、終価です。金額は億TWD。株主の範囲や受取時点は各分析の前提を確認してください。

シナリオ	確率	株主還元・追加負担	終価
深刻な逆風	10.0%	1,319.50	4,245.45
弱気	20.0%	3,669.57	9,693.94
中立	40.0%	9,204.43	19,862.33
強気	22.0%	15,330.10	36,013.26
大幅上振れ	8.0%	24,217.78	75,133.73

深刻な逆風（確率 10.0%）

電源・部品、インフラ、製造投資と競争環境をケース別に仮定し、旧株主の配当と残存価値を算出します。

このシナリオの数値・キャッシュフローを開く →

弱気（確率 20.0%）

電源・部品、インフラ、製造投資と競争環境をケース別に仮定し、旧株主の配当と残存価値を算出します。

日付別キャッシュフロー

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種類: future_dividend_declaration
想定日: 2027-05-20
year: 0.53388090349076
金額: 0
company_total_declaration_oku: 419.37422396129
confirmed: いいえ
注記: 予測：株主総会・取締役会等の正式決議なし。宣言日で親会社資本を減額し、支払時は配当負債を現金決済。
ex_date_model_context: 2027-06-17

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種類: future_dividend_ex_rights
想定日: 2027-06-17
year: 0.61054072553046
金額: 0
confirmed: いいえ
注記: 予測：権利落ち日。未決議。売却前に権利が外れる場合だけ旧株主に配当請求権が残る。
ex_date_model_context: 2027-06-17

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種類: old_holder_dividend_cash
想定日: 2027-07-22
year: 0.70636550308008
金額: 419.37422396129
ex_date: 2027-06-17
declaration_date_assumed: 2027-05-20
company_total_dividend_oku: 419.37422396129
eligible_outstanding_shares: 2597543329
dividend_per_share_twd: 16.145032857748
old_holder_shares_on_ex_date: 2597543329
old_holder_fraction_on_ex_date: 1
confirmed: いいえ
注記: 予測：会社配当総額×権利落ち時旧株主持分。実際の支払日に旧株主現金。

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種類: future_parent_equity_settled_award_issue
想定日: 2027-09-15
year: 0.85694729637235
金額: 0
confirmed: いいえ
issuer_new_shares: 125668
grant_expense_previously_included_in_ifrs_op_oku: 1.1486041996946
noncash_apic_equity_credit_oku: 1.1486041996946
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 913.99992416345
issuer_shares_after: 2597668997
old_holder_shares_after: 2597543329
注記: 予測、2026-09実績では親株SBC交付を確認できず。非現金会計は利益から費用控除済み→資本貸方→CFO加算、旧株主は支払いゼロ・分母増加だけ。

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種類: old_holder_pro_rata_issuer_buyback_tender_cash
想定日: 2027-10-15
year: 0.93908281998631
金額: 3.438250875147
confirmed: いいえ
company_issuer_repurchase_cash_oku: 3.4384172162071
company_total_shares_retired: 367019
old_holder_tendered_shares: 367001.24464174
old_holder_shares_after: 2597176327.7554
issuer_shares_after: 2597301978
old_holder_fraction_before: 0.99995162278175
old_holder_fraction_after: 0.99995162278175
assumed_tender_price_twd: 936.84992226754
issuer_treasury_shares_after: 0
注記: 予測：旧株主は全体と同率で比例応札し代金を現金受取。会社買戻しは資本減・株数減で1回反映、同時消却仮定。

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種類: future_dividend_declaration
想定日: 2028-05-20
year: 1.5359342915811
金額: 0
company_total_declaration_oku: 302.58035352419
confirmed: いいえ
注記: 予測：株主総会・取締役会等の正式決議なし。宣言日で親会社資本を減額し、支払時は配当負債を現金決済。
ex_date_model_context: 2028-06-17

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種類: future_dividend_ex_rights
想定日: 2028-06-17
year: 1.6125941136208
金額: 0
confirmed: いいえ
注記: 予測：権利落ち日。未決議。売却前に権利が外れる場合だけ旧株主に配当請求権が残る。
ex_date_model_context: 2028-06-17

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種類: old_holder_dividend_cash
想定日: 2028-07-22
year: 1.7084188911704
金額: 302.56571552839
ex_date: 2028-06-17
declaration_date_assumed: 2028-05-20
company_total_dividend_oku: 302.58035352419
eligible_outstanding_shares: 2597301978
dividend_per_share_twd: 11.649794905912
old_holder_shares_on_ex_date: 2597176327.7554
old_holder_fraction_on_ex_date: 0.99995162278175
confirmed: いいえ
注記: 予測：会社配当総額×権利落ち時旧株主持分。実際の支払日に旧株主現金。

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種類: future_parent_equity_settled_award_issue
想定日: 2028-09-15
year: 1.8590006844627
金額: 0
confirmed: いいえ
issuer_new_shares: 124075
grant_expense_previously_included_in_ifrs_op_oku: 1.1655928684287
noncash_apic_equity_credit_oku: 1.1655928684287
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 939.42684654107
issuer_shares_after: 2597426053
old_holder_shares_after: 2597176327.7554
注記: 予測、2026-09実績では親株SBC交付を確認できず。非現金会計は利益から費用控除済み→資本貸方→CFO加算、旧株主は支払いゼロ・分母増加だけ。

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種類: old_holder_pro_rata_issuer_buyback_tender_cash
想定日: 2028-10-15
year: 1.9411362080767
金額: 3.5684225182805
confirmed: いいえ
company_issuer_repurchase_cash_oku: 3.5687656313671
company_total_shares_retired: 370622
old_holder_tendered_shares: 370586.36715898
old_holder_shares_after: 2596805741.3882
issuer_shares_after: 2597055431
old_holder_fraction_before: 0.99990385664903
old_holder_fraction_after: 0.99990385664903
assumed_tender_price_twd: 962.9125177046
issuer_treasury_shares_after: 0
注記: 予測：旧株主は全体と同率で比例応札し代金を現金受取。会社買戻しは資本減・株数減で1回反映、同時消却仮定。

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種類: future_dividend_declaration
想定日: 2029-05-20
year: 2.5352498288843
金額: 0
company_total_declaration_oku: 314.05175379932
confirmed: いいえ
注記: 予測：株主総会・取締役会等の正式決議なし。宣言日で親会社資本を減額し、支払時は配当負債を現金決済。
ex_date_model_context: 2029-06-17

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種類: future_dividend_ex_rights
想定日: 2029-06-17
year: 2.611909650924
金額: 0
confirmed: いいえ
注記: 予測：権利落ち日。未決議。売却前に権利が外れる場合だけ旧株主に配当請求権が残る。
ex_date_model_context: 2029-06-17

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種類: old_holder_dividend_cash
想定日: 2029-07-22
year: 2.7077344284737
金額: 314.02155981133
ex_date: 2029-06-17
declaration_date_assumed: 2029-05-20
company_total_dividend_oku: 314.05175379932
eligible_outstanding_shares: 2597055431
dividend_per_share_twd: 12.09260880806
old_holder_shares_on_ex_date: 2596805741.3882
old_holder_fraction_on_ex_date: 0.99990385664903
confirmed: いいえ
注記: 予測：会社配当総額×権利落ち時旧株主持分。実際の支払日に旧株主現金。

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種類: future_parent_equity_settled_award_issue
想定日: 2029-09-15
year: 2.8583162217659
金額: 0
confirmed: いいえ
issuer_new_shares: 123001
grant_expense_previously_included_in_ifrs_op_oku: 1.1890033237755
noncash_apic_equity_credit_oku: 1.1890033237755
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 966.65763500396
issuer_shares_after: 2597178432
old_holder_shares_after: 2596805741.3882
注記: 予測、2026-09実績では親株SBC交付を確認できず。非現金会計は利益から費用控除済み→資本貸方→CFO加算、旧株主は支払いゼロ・分母増加だけ。

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種類: old_holder_pro_rata_issuer_buyback_tender_cash
想定日: 2029-10-15
year: 2.9404517453799
金額: 3.7124912376624
confirmed: いいえ
company_issuer_repurchase_cash_oku: 3.71302405019
company_total_shares_retired: 374741
old_holder_tendered_shares: 374687.22531481
old_holder_shares_after: 2596431054.1629
issuer_shares_after: 2596803691
old_holder_fraction_before: 0.99985650173003
old_holder_fraction_after: 0.99985650173003
assumed_tender_price_twd: 990.82407587906
issuer_treasury_shares_after: 0
注記: 予測：旧株主は全体と同率で比例応札し代金を現金受取。会社買戻しは資本減・株数減で1回反映、同時消却仮定。

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種類: future_dividend_declaration
想定日: 2030-05-20
year: 3.5345653661875
金額: 0
company_total_declaration_oku: 326.74614084712
confirmed: いいえ
注記: 予測：株主総会・取締役会等の正式決議なし。宣言日で親会社資本を減額し、支払時は配当負債を現金決済。
ex_date_model_context: 2030-06-17

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種類: future_dividend_ex_rights
想定日: 2030-06-17
year: 3.6112251882272
金額: 0
confirmed: いいえ
注記: 予測：権利落ち日。未決議。売却前に権利が外れる場合だけ旧株主に配当請求権が残る。
ex_date_model_context: 2030-06-17

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種類: old_holder_dividend_cash
想定日: 2030-07-22
year: 3.7070499657769
金額: 326.69925334119
ex_date: 2030-06-17
declaration_date_assumed: 2030-05-20
company_total_dividend_oku: 326.74614084712
eligible_outstanding_shares: 2596803691
dividend_per_share_twd: 12.582627711889
old_holder_shares_on_ex_date: 2596431054.1629
old_holder_fraction_on_ex_date: 0.99985650173003
confirmed: いいえ
注記: 予測：会社配当総額×権利落ち時旧株主持分。実際の支払日に旧株主現金。

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種類: future_parent_equity_settled_award_issue
想定日: 2030-09-15
year: 3.8576317590691
金額: 0
confirmed: いいえ
issuer_new_shares: 122387
grant_expense_previously_included_in_ifrs_op_oku: 1.2177670091735
noncash_apic_equity_credit_oku: 1.2177670091735
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 995.01382993644
issuer_shares_after: 2596926078
old_holder_shares_after: 2596431054.1629
注記: 予測、2026-09実績では親株SBC交付を確認できず。非現金会計は利益から費用控除済み→資本貸方→CFO加算、旧株主は支払いゼロ・分母増加だけ。

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種類: old_holder_pro_rata_issuer_buyback_tender_cash
想定日: 2030-10-15
year: 3.9397672826831
金額: 3.8651530077895
confirmed: いいえ
company_issuer_repurchase_cash_oku: 3.8658899204334
company_total_shares_retired: 379050
old_holder_tendered_shares: 378977.74581185
old_holder_shares_after: 2596052076.4171
issuer_shares_after: 2596547028
old_holder_fraction_before: 0.99980938085173
old_holder_fraction_after: 0.99980938085173
assumed_tender_price_twd: 1019.8891756848
issuer_treasury_shares_after: 0
注記: 予測：旧株主は全体と同率で比例応札し代金を現金受取。会社買戻しは資本減・株数減で1回反映、同時消却仮定。

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種類: future_dividend_declaration
想定日: 2031-05-20
year: 4.5338809034908
金額: 0
company_total_declaration_oku: 340.19808656324
confirmed: いいえ
注記: 予測：株主総会・取締役会等の正式決議なし。宣言日で親会社資本を減額し、支払時は配当負債を現金決済。
ex_date_model_context: 2031-06-17

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種類: future_dividend_ex_rights
想定日: 2031-06-17
year: 4.6105407255305
金額: 0
confirmed: いいえ
注記: 予測：権利落ち日。未決議。売却前に権利が外れる場合だけ旧株主に配当請求権が残る。
ex_date_model_context: 2031-06-17

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種類: old_holder_dividend_cash
想定日: 2031-07-22
year: 4.7063655030801
金額: 340.13323829374
ex_date: 2031-06-17
declaration_date_assumed: 2031-05-20
company_total_dividend_oku: 340.19808656324
eligible_outstanding_shares: 2596547028
dividend_per_share_twd: 13.101942036662
old_holder_shares_on_ex_date: 2596052076.4171
old_holder_fraction_on_ex_date: 0.99980938085173
confirmed: いいえ
注記: 予測：会社配当総額×権利落ち時旧株主持分。実際の支払日に旧株主現金。

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種類: future_parent_equity_settled_award_issue
想定日: 2031-09-15
year: 4.8569472963723
金額: 0
confirmed: いいえ
issuer_new_shares: 122131
grant_expense_previously_included_in_ifrs_op_oku: 1.2511195178308
noncash_apic_equity_credit_oku: 1.2511195178308
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1024.4119338051
issuer_shares_after: 2596669159
old_holder_shares_after: 2596052076.4171
注記: 予測、2026-09実績では親株SBC交付を確認できず。非現金会計は利益から費用控除済み→資本貸方→CFO加算、旧株主は支払いゼロ・分母増加だけ。

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種類: old_holder_pro_rata_issuer_buyback_tender_cash
想定日: 2031-10-15
year: 4.9390828199863
金額: 4.0258468142839
confirmed: いいえ
company_issuer_repurchase_cash_oku: 4.0268037596291
company_total_shares_retired: 383497
old_holder_tendered_shares: 383405.86427773
old_holder_shares_after: 2595668670.5528
issuer_shares_after: 2596285662
old_holder_fraction_before: 0.99976235610117
old_holder_fraction_after: 0.99976235610117
assumed_tender_price_twd: 1050.0222321502
issuer_treasury_shares_after: 0
注記: 予測：旧株主は全体と同率で比例応札し代金を現金受取。会社買戻しは資本減・株数減で1回反映、同時消却仮定。

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種類: future_dividend_declaration
想定日: 2032-05-20
year: 5.5359342915811
金額: 0
company_total_declaration_oku: 354.35845449897
confirmed: いいえ
注記: 予測：株主総会・取締役会等の正式決議なし。宣言日で親会社資本を減額し、支払時は配当負債を現金決済。
ex_date_model_context: 2032-06-17

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種類: future_dividend_ex_rights
想定日: 2032-06-17
year: 5.6125941136208
金額: 0
confirmed: いいえ
注記: 予測：権利落ち日。未決議。売却前に権利が外れる場合だけ旧株主に配当請求権が残る。
ex_date_model_context: 2032-06-17

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種類: old_holder_dividend_cash
想定日: 2032-07-22
year: 5.7084188911704
金額: 354.27424337426
ex_date: 2032-06-17
declaration_date_assumed: 2032-05-20
company_total_dividend_oku: 354.35845449897
eligible_outstanding_shares: 2596285662
dividend_per_share_twd: 13.64866970093
old_holder_shares_on_ex_date: 2595668670.5528
old_holder_fraction_on_ex_date: 0.99976235610117
confirmed: いいえ
注記: 予測：会社配当総額×権利落ち時旧株主持分。実際の支払日に旧株主現金。

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種類: future_parent_equity_settled_award_issue
想定日: 2032-09-15
year: 5.8590006844627
金額: 0
confirmed: いいえ
issuer_new_shares: 122157
grant_expense_previously_included_in_ifrs_op_oku: 1.2885096031601
noncash_apic_equity_credit_oku: 1.2885096031601
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1054.796593826
issuer_shares_after: 2596407819
old_holder_shares_after: 2595668670.5528
注記: 予測、2026-09実績では親株SBC交付を確認できず。非現金会計は利益から費用控除済み→資本貸方→CFO加算、旧株主は支払いゼロ・分母増加だけ。

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種類: old_holder_pro_rata_issuer_buyback_tender_cash
想定日: 2032-10-15
year: 5.9411362080767
金額: 4.1942182235625
confirmed: いいえ
company_issuer_repurchase_cash_oku: 4.1954125785749
company_total_shares_retired: 388045
old_holder_tendered_shares: 387934.53089068
old_holder_shares_after: 2595280736.0219
issuer_shares_after: 2596019774
old_holder_fraction_before: 0.99971531881787
old_holder_fraction_after: 0.99971531881787
assumed_tender_price_twd: 1081.1665086716
issuer_treasury_shares_after: 0
注記: 予測：旧株主は全体と同率で比例応札し代金を現金受取。会社買戻しは資本減・株数減で1回反映、同時消却仮定。

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種類: future_dividend_declaration
想定日: 2033-05-20
year: 6.5352498288843
金額: 0
company_total_declaration_oku: 369.19608564297
confirmed: いいえ
注記: 予測：株主総会・取締役会等の正式決議なし。宣言日で親会社資本を減額し、支払時は配当負債を現金決済。
ex_date_model_context: 2033-06-17

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種類: future_dividend_ex_rights
想定日: 2033-06-17
year: 6.611909650924
金額: 0
confirmed: いいえ
注記: 予測：権利落ち日。未決議。売却前に権利が外れる場合だけ旧株主に配当請求権が残る。
ex_date_model_context: 2033-06-17

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種類: old_holder_dividend_cash
想定日: 2033-07-22
year: 6.7077344284736
金額: 369.09098246487
ex_date: 2033-06-17
declaration_date_assumed: 2033-05-20
company_total_dividend_oku: 369.19608564297
eligible_outstanding_shares: 2596019774
dividend_per_share_twd: 14.221620703378
old_holder_shares_on_ex_date: 2595280736.0219
old_holder_fraction_on_ex_date: 0.99971531881787
confirmed: いいえ
注記: 予測：会社配当総額×権利落ち時旧株主持分。実際の支払日に旧株主現金。

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種類: future_parent_equity_settled_award_issue
想定日: 2033-09-15
year: 6.8583162217659
金額: 0
confirmed: いいえ
issuer_new_shares: 122410
grant_expense_previously_included_in_ifrs_op_oku: 1.3295394344973
noncash_apic_equity_credit_oku: 1.3295394344973
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1086.1339620888
issuer_shares_after: 2596142184
old_holder_shares_after: 2595280736.0219
注記: 予測、2026-09実績では親株SBC交付を確認できず。非現金会計は利益から費用控除済み→資本貸方→CFO加算、旧株主は支払いゼロ・分母増加だけ。

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種類: old_holder_pro_rata_issuer_buyback_tender_cash
想定日: 2033-10-15
year: 6.9404517453799
金額: 4.3700724667462
confirmed: いいえ
company_issuer_repurchase_cash_oku: 4.3715230189113
company_total_shares_retired: 392668
old_holder_tendered_shares: 392537.70549735
old_holder_shares_after: 2594888198.3164
issuer_shares_after: 2595749516
old_holder_fraction_before: 0.99966818151047
old_holder_fraction_after: 0.99966818151047
assumed_tender_price_twd: 1113.287311141
issuer_treasury_shares_after: 0
注記: 予測：旧株主は全体と同率で比例応札し代金を現金受取。会社買戻しは資本減・株数減で1回反映、同時消却仮定。

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種類: future_dividend_declaration
想定日: 2034-05-20
year: 7.5345653661875
金額: 0
company_total_declaration_oku: 384.693790012
confirmed: いいえ
注記: 予測：株主総会・取締役会等の正式決議なし。宣言日で親会社資本を減額し、支払時は配当負債を現金決済。
ex_date_model_context: 2034-06-17

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種類: future_dividend_ex_rights
想定日: 2034-06-17
year: 7.6112251882272
金額: 0
confirmed: いいえ
注記: 予測：権利落ち日。未決議。売却前に権利が外れる場合だけ旧株主に配当請求権が残る。
ex_date_model_context: 2034-06-17

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種類: old_holder_dividend_cash
想定日: 2034-07-22
year: 7.7070499657769
金額: 384.56614149967
ex_date: 2034-06-17
declaration_date_assumed: 2034-05-20
company_total_dividend_oku: 384.693790012
eligible_outstanding_shares: 2595749516
dividend_per_share_twd: 14.820142993027
old_holder_shares_on_ex_date: 2594888198.3164
old_holder_fraction_on_ex_date: 0.99966818151047
confirmed: いいえ
注記: 予測：会社配当総額×権利落ち時旧株主持分。実際の支払日に旧株主現金。

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種類: future_parent_equity_settled_award_issue
想定日: 2034-09-15
year: 7.8576317590691
金額: 0
confirmed: いいえ
issuer_new_shares: 122846
grant_expense_previously_included_in_ifrs_op_oku: 1.3739241724062
noncash_apic_equity_credit_oku: 1.3739241724062
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1118.4073987342
issuer_shares_after: 2595872362
old_holder_shares_after: 2594888198.3164
注記: 予測、2026-09実績では親株SBC交付を確認できず。非現金会計は利益から費用控除済み→資本貸方→CFO加算、旧株主は支払いゼロ・分母増加だけ。

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種類: old_holder_pro_rata_issuer_buyback_tender_cash
想定日: 2034-10-15
year: 7.9397672826831
金額: 4.5533417198103
confirmed: いいえ
company_issuer_repurchase_cash_oku: 4.5550686664905
company_total_shares_retired: 397348
old_holder_tendered_shares: 397197.35489238
old_holder_shares_after: 2594491000.9615
issuer_shares_after: 2595475014
old_holder_fraction_before: 0.99962087362306
old_holder_fraction_after: 0.99962087362306
assumed_tender_price_twd: 1146.3675837026
issuer_treasury_shares_after: 0
注記: 予測：旧株主は全体と同率で比例応札し代金を現金受取。会社買戻しは資本減・株数減で1回反映、同時消却仮定。

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種類: future_dividend_declaration
想定日: 2035-05-20
year: 8.5338809034908
金額: 0
company_total_declaration_oku: 400.84589397597
confirmed: いいえ
注記: 予測：株主総会・取締役会等の正式決議なし。宣言日で親会社資本を減額し、支払時は配当負債を現金決済。
ex_date_model_context: 2035-06-17

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種類: future_dividend_ex_rights
想定日: 2035-06-17
year: 8.6105407255305
金額: 0
confirmed: いいえ
注記: 予測：権利落ち日。未決議。売却前に権利が外れる場合だけ旧株主に配当請求権が残る。
ex_date_model_context: 2035-06-17

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種類: old_holder_dividend_cash
想定日: 2035-07-22
year: 8.7063655030801
金額: 400.69392272448
ex_date: 2035-06-17
declaration_date_assumed: 2035-05-20
company_total_dividend_oku: 400.84589397597
eligible_outstanding_shares: 2595475014
dividend_per_share_twd: 15.444028234285
old_holder_shares_on_ex_date: 2594491000.9615
old_holder_fraction_on_ex_date: 0.99962087362306
confirmed: いいえ
注記: 予測：会社配当総額×権利落ち時旧株主持分。実際の支払日に旧株主現金。

内容を開く

種類: future_parent_equity_settled_award_issue
想定日: 2035-09-15
year: 8.8569472963724
金額: 0
confirmed: いいえ
issuer_new_shares: 123432
grant_expense_previously_included_in_ifrs_op_oku: 1.421463890097
noncash_apic_equity_credit_oku: 1.421463890097
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1151.6138787685
issuer_shares_after: 2595598446
old_holder_shares_after: 2594491000.9615
注記: 予測、2026-09実績では親株SBC交付を確認できず。非現金会計は利益から費用控除済み→資本貸方→CFO加算、旧株主は支払いゼロ・分母増加だけ。

内容を開く

種類: old_holder_pro_rata_issuer_buyback_tender_cash
想定日: 2035-10-15
year: 8.9390828199863
金額: 4.7440735034027
confirmed: いいえ
company_issuer_repurchase_cash_oku: 4.7460984865927
company_total_shares_retired: 402074
old_holder_tendered_shares: 401902.45002196
old_holder_shares_after: 2594089098.5115
issuer_shares_after: 2595196372
old_holder_fraction_before: 0.999573337301
old_holder_fraction_after: 0.999573337301
assumed_tender_price_twd: 1180.4042257377
issuer_treasury_shares_after: 0
注記: 予測：旧株主は全体と同率で比例応札し代金を現金受取。会社買戻しは資本減・株数減で1回反映、同時消却仮定。

内容を開く

種類: future_dividend_declaration
想定日: 2036-05-20
year: 9.5359342915811
金額: 0
company_total_declaration_oku: 417.65616522637
confirmed: いいえ
注記: 予測：株主総会・取締役会等の正式決議なし。宣言日で親会社資本を減額し、支払時は配当負債を現金決済。
ex_date_model_context: 2036-06-17

内容を開く

種類: future_dividend_ex_rights
想定日: 2036-06-17
year: 9.6125941136208
金額: 0
confirmed: いいえ
注記: 予測：権利落ち日。未決議。売却前に権利が外れる場合だけ旧株主に配当請求権が残る。
ex_date_model_context: 2036-06-17

内容を開く

種類: old_holder_dividend_cash
想定日: 2036-07-22
year: 9.7084188911704
金額: 417.47796691966
ex_date: 2036-06-17
declaration_date_assumed: 2036-05-20
company_total_dividend_oku: 417.65616522637
eligible_outstanding_shares: 2595196372
dividend_per_share_twd: 16.093432070595
old_holder_shares_on_ex_date: 2594089098.5115
old_holder_fraction_on_ex_date: 0.999573337301
confirmed: いいえ
注記: 予測：会社配当総額×権利落ち時旧株主持分。実際の支払日に旧株主現金。

内容を開く

種類: future_parent_equity_settled_award_issue
想定日: 2036-09-15
year: 9.8590006844627
金額: 0
confirmed: いいえ
issuer_new_shares: 105487
grant_expense_previously_included_in_ifrs_op_oku: 1.2508178878203
noncash_apic_equity_credit_oku: 1.2508178878203
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1185.7610610956
issuer_shares_after: 2595301859
old_holder_shares_after: 2594089098.5115
注記: 予測、2026-09実績では親株SBC交付を確認できず。非現金会計は利益から費用控除済み→資本貸方→CFO加算、旧株主は支払いゼロ・分母増加だけ。

内容を開く

種類: old_holder_pro_rata_issuer_buyback_tender_cash
想定日: 2036-10-15
year: 9.9411362080767
金額: 4.1997041416897
confirmed: いいえ
company_issuer_repurchase_cash_oku: 4.2016675419635
company_total_shares_retired: 345701
old_holder_tendered_shares: 345539.45712891
old_holder_shares_after: 2593743559.0544
issuer_shares_after: 2594956158
old_holder_fraction_before: 0.99953270927453
old_holder_fraction_after: 0.99953270927453
assumed_tender_price_twd: 1215.405087623
issuer_treasury_shares_after: 0
注記: 予測：旧株主は全体と同率で比例応札し代金を現金受取。会社買戻しは資本減・株数減で1回反映、同時消却仮定。

その他の数値・前提

data_class

forecast_2026-11-07_to_2036-11-06

期間内株主受取

3669.5688224273

終価

9693.9376727932

company_whole_parent_equity_terminal_oku

9698.4696777249

company_issuer_common_mcap_proxy_terminal_oku

9698.4696777249

issuer_2026_11_06_mcap_oku

27404.08212095

terminal_company_value_per_share_twd

373.74310343647

dividend_cash_to_cohort_oku

3628.8972479189

issuer_repurchase_tender_cash_to_cohort_oku

40.671574508375

old_holder_terminal_equity_fraction

0.99953270927453

old_holder_residual_shares

2593743559.0544

company_shares_outstanding_at_exit

2594956158

現在価値（億）

6480.6374882875

pv_act36525_terminal_oku

6480.1544469628

net_pv_minus_initial_oku

-20923.444632663

irr

-0.07700697308025

irr_site_exponent_10

-0.07700697308025

irr_act36525_all_event_dates

-0.07699826438948

キャッシュフローの算出方法

timed_holder_cashflows_v1

fiscal_period_ledger_11

内容を開く

period_id

2026_postcutoff_partial

fiscal_year

2026

period_start

2026-11-07

期間末

2026-12-31

inclusive_days

fiscal_year_days

365

fiscal_year_fraction

0.15068493150685

data_class

forecast

opening

内容を開く

親会社持分（億）: 3293.8255683833
group_cash_oku: 2166.6468924
group_interest_bearing_debt_ex_lease_oku: 1106.25714
非支配持分資本（億）: 675.07636139935
issuer_economic_shares: 2597543329
old_holder_cohort_shares: 2597543329
old_holder_fraction: 1

pnl

内容を開く

consolidated_sales_oku

1297.065

segments_sales_oku

内容を開く

power_components: 710.325
infrastructure: 421.575
automation: 103.95
mobility: 57.75

operating_profit_pre_sbc_oku

202.62165

parent_share_sbc_expense_oku

subsidiary_share_sbc_expense_oku

0.02391304347826

ifrs_operating_profit_after_sbc_oku

202.59773695652

net_nonoperating_income_oku

14.945652173913

ifrs_profit_before_tax_oku

217.54338913043

income_tax_expense_oku

51.122696445652

consolidated_profit_oku

166.42069268478

parent_net_income_after_sbc_oku

149.4124978924

nci_profit_oku

17.008194792385

税率

23.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 209.21810238043
pnl_cash_bridge_oku: 166.42069268478
depreciation_and_amortization_addback_oku: 59.66499
parent_non_cash_sbc_addback_oku: 0
subsidiary_non_cash_sbc_addback_oku: 0.02391304347826
working_capital_investment_oku: 16.891493347826
maintenance_capex_cash_oku: 53.179665
growth_capex_cash_oku: 53.179665
total_capex_cash_oku: 106.35933
company_fcf_pre_distributions_oku: 102.85877238043
parent_declared_and_paid_dividends_oku: 0
nci_cash_dividends_oku: 0
issuer_buyback_cash_oku: 0
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 15.002665323288
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 0
company_parent_shares_bought_and_cancelled: 0
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 未確認
buyback_execution_price_twd_proxy: 未確認
old_cohort_shares_tendered_proportionately: 0
old_cohort_ownership_end: 1
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 149.4124978924
sbc_equity_paid_in_oku: 0
parent_dividends_oku: 0
issuer_repurchase_deduction_oku: 0
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 17.008194792385
subsidiary_sbc_credit_to_nci_oku_proxy: 0.02391304347826
nci_dividends_oku: 0
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 3443.2380662757
group_cash_oku: 2254.5029994571
group_interest_bearing_debt_ex_lease_oku: 1091.2544746767
group_net_cash_ex_lease_oku: 1163.2485247804
非支配持分資本（億）: 692.10846923521
issuer_economic_shares: 2597543329
old_holder_cohort_shares: 2597543329
old_holder_fraction: 1
total_other_liabilities_and_leases_proxy_oku: 3406.044
other_non_cash_assets_plug_proxy_oku: 6378.1420107304
total_assets_plug_proxy_oku: 8632.6450101876
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

7597.0229686957

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: 0.181

infrastructure

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: 0.171

automation

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: 0.035

mobility

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: -0.029

noncapex_working_capital_ratio_on_incremental_revenue

未確認

内容を開く

period_id

FY2027

fiscal_year

2027

period_start

2027-01-01

期間末

2027-12-31

inclusive_days

365

fiscal_year_days

365

fiscal_year_fraction

data_class

forecast

opening

内容を開く

親会社持分（億）: 3443.2380662757
group_cash_oku: 2254.5029994571
group_interest_bearing_debt_ex_lease_oku: 1091.2544746767
非支配持分資本（億）: 692.10846923521
issuer_economic_shares: 2597543329
old_holder_cohort_shares: 2597543329
old_holder_fraction: 1

pnl

内容を開く

consolidated_sales_oku

7657.3613312975

segments_sales_oku

内容を開く

power_components: 4099.6869462978
infrastructure: 2569.300772188
automation: 640.5926255913
mobility: 333.47994357037

operating_profit_pre_sbc_oku

992.57653065072

parent_share_sbc_expense_oku

1.1486041996946

subsidiary_share_sbc_expense_oku

0.10720305863817

ifrs_operating_profit_after_sbc_oku

991.32072339238

net_nonoperating_income_oku

41.189256106878

ifrs_profit_before_tax_oku

1032.5099794993

income_tax_expense_oku

263.29004477231

consolidated_profit_oku

769.21993472695

parent_net_income_after_sbc_oku

687.68262164589

nci_profit_oku

81.537313081057

税率

25.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1111.2500743306
pnl_cash_bridge_oku: 769.21993472695
depreciation_and_amortization_addback_oku: 352.23862123969
parent_non_cash_sbc_addback_oku: 1.1486041996946
subsidiary_non_cash_sbc_addback_oku: 0.10720305863817
working_capital_investment_oku: 11.464288894353
maintenance_capex_cash_oku: 306.2944532519
growth_capex_cash_oku: 375.21070523358
total_capex_cash_oku: 681.50515848548
company_fcf_pre_distributions_oku: 429.74491584514
parent_declared_and_paid_dividends_oku: 419.37422396129
nci_cash_dividends_oku: 32.550278770563
issuer_buyback_cash_oku: 3.4384172162071
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 98.212902720904
cash_end_reconciliation_residual_oku: 4.5E-13

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 125668
company_parent_shares_bought_and_cancelled: 367019
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 913.99992416345
buyback_execution_price_twd_proxy: 936.84992226754
old_cohort_shares_tendered_proportionately: 367001.24464178
old_cohort_ownership_end: 0.99995162278175
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 687.68262164589
sbc_equity_paid_in_oku: 1.1486041996946
parent_dividends_oku: 419.37422396129
issuer_repurchase_deduction_oku: 3.4384172162071
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 81.537313081057
subsidiary_sbc_credit_to_nci_oku_proxy: 0.10720305863817
nci_dividends_oku: 32.550278770563
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 3709.2566509437
group_cash_oku: 2130.6720926333
group_interest_bearing_debt_ex_lease_oku: 993.04157195581
group_net_cash_ex_lease_oku: 1137.6305206775
非支配持分資本（億）: 741.20270660434
issuer_economic_shares: 2597301978
old_holder_cohort_shares: 2597176327.7554
old_holder_fraction: 0.99995162278175
total_other_liabilities_and_leases_proxy_oku: 3424.9579589593
other_non_cash_assets_plug_proxy_oku: 6737.7867958299
total_assets_plug_proxy_oku: 8868.4588884632
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

7657.3613312975

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.008
price_growth: -0.004
annual_operating_margin_before_sbc: 0.158

infrastructure

volume_growth: 0.025
price_growth: -0.004
annual_operating_margin_before_sbc: 0.136

automation

volume_growth: 0.01
price_growth: 0
annual_operating_margin_before_sbc: 0.01

mobility

volume_growth: -0.04
price_growth: -0.004
annual_operating_margin_before_sbc: -0.033

noncapex_working_capital_ratio_on_incremental_revenue

0.19

内容を開く

period_id

FY2028

fiscal_year

2028

period_start

2028-01-01

期間末

2028-12-31

inclusive_days

366

fiscal_year_days

366

fiscal_year_fraction

data_class

forecast

opening

内容を開く

親会社持分（億）: 3709.2566509437
group_cash_oku: 2130.6720926333
group_interest_bearing_debt_ex_lease_oku: 993.04157195581
非支配持分資本（億）: 741.20270660434
issuer_economic_shares: 2597301978
old_holder_cohort_shares: 2597176327.7554
old_holder_fraction: 0.99995162278175

pnl

内容を開く

consolidated_sales_oku

7770.6191228577

segments_sales_oku

内容を開く

power_components: 4145.7935015832
infrastructure: 2636.4176193712
automation: 649.65060531717
mobility: 323.95581640839

operating_profit_pre_sbc_oku

1033.1803402472

parent_share_sbc_expense_oku

1.1655928684287

subsidiary_share_sbc_expense_oku

0.10878866772001

ifrs_operating_profit_after_sbc_oku

1031.9059587111

net_nonoperating_income_oku

42.285068245417

ifrs_profit_before_tax_oku

1074.1910269565

income_tax_expense_oku

273.9187118739

consolidated_profit_oku

800.27231508258

parent_net_income_after_sbc_oku

713.75398590754

nci_profit_oku

86.518329175038

税率

25.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1137.4761958737
pnl_cash_bridge_oku: 800.27231508258
depreciation_and_amortization_addback_oku: 357.44847965145
parent_non_cash_sbc_addback_oku: 1.1655928684287
subsidiary_non_cash_sbc_addback_oku: 0.10878866772001
working_capital_investment_oku: 21.518980396431
maintenance_capex_cash_oku: 310.82476491431
growth_capex_cash_oku: 362.62889240002
total_capex_cash_oku: 673.45365731433
company_fcf_pre_distributions_oku: 464.02253855941
parent_declared_and_paid_dividends_oku: 302.58035352419
nci_cash_dividends_oku: 24.461193924317
issuer_buyback_cash_oku: 3.5687656313671
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 89.373741476023
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 124075
company_parent_shares_bought_and_cancelled: 370622
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 939.42684654107
buyback_execution_price_twd_proxy: 962.9125177046
old_cohort_shares_tendered_proportionately: 370586.36715889
old_cohort_ownership_end: 0.99990385664903
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 713.75398590754
sbc_equity_paid_in_oku: 1.1655928684287
parent_dividends_oku: 302.58035352419
issuer_repurchase_deduction_oku: 3.5687656313671
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 86.518329175038
subsidiary_sbc_credit_to_nci_oku_proxy: 0.10878866772001
nci_dividends_oku: 24.461193924317
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 4118.0271105642
group_cash_oku: 2174.7105766368
group_interest_bearing_debt_ex_lease_oku: 903.66783047979
group_net_cash_ex_lease_oku: 1271.042746157
非支配持分資本（億）: 803.36863052278
issuer_economic_shares: 2597055431
old_holder_cohort_shares: 2596805741.3882
old_holder_fraction: 0.99990385664903
total_other_liabilities_and_leases_proxy_oku: 3460.3400724647
other_non_cash_assets_plug_proxy_oku: 7110.6930673946
total_assets_plug_proxy_oku: 9285.4036440314
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

7770.6191228577

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.0149
price_growth: -0.0036
annual_operating_margin_before_sbc: 0.15965

infrastructure

volume_growth: 0.02983
price_growth: -0.0036
annual_operating_margin_before_sbc: 0.13975

automation

volume_growth: 0.01414
price_growth: 0
annual_operating_margin_before_sbc: 0.0175

mobility

volume_growth: -0.02505
price_growth: -0.0036
annual_operating_margin_before_sbc: -0.02625

noncapex_working_capital_ratio_on_incremental_revenue

0.19

内容を開く

period_id

FY2029

fiscal_year

2029

period_start

2029-01-01

期間末

2029-12-31

inclusive_days

365

fiscal_year_days

365

fiscal_year_fraction

data_class

forecast

opening

内容を開く

親会社持分（億）: 4118.0271105642
group_cash_oku: 2174.7105766368
group_interest_bearing_debt_ex_lease_oku: 903.66783047979
非支配持分資本（億）: 803.36863052278
issuer_economic_shares: 2597055431
old_holder_cohort_shares: 2596805741.3882
old_holder_fraction: 0.99990385664903

pnl

内容を開く

consolidated_sales_oku

7926.6888251702

segments_sales_oku

内容を開く

power_components: 4215.8885461716
infrastructure: 2716.0384884582
automation: 660.90762107598
mobility: 318.53453398044

operating_profit_pre_sbc_oku

1076.4483713512

parent_share_sbc_expense_oku

1.1890033237755

subsidiary_share_sbc_expense_oku

0.11097364355238

ifrs_operating_profit_after_sbc_oku

1075.1483943839

net_nonoperating_income_oku

45.114528943583

ifrs_profit_before_tax_oku

1120.2629233275

income_tax_expense_oku

285.66704544851

consolidated_profit_oku

834.59587787897

parent_net_income_after_sbc_oku

742.60486556164

nci_profit_oku

91.991012317326

税率

25.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1170.8702973647
pnl_cash_bridge_oku: 834.59587787897
depreciation_and_amortization_addback_oku: 364.62768595783
parent_non_cash_sbc_addback_oku: 1.1890033237755
subsidiary_non_cash_sbc_addback_oku: 0.11097364355238
working_capital_investment_oku: 29.653243439387
maintenance_capex_cash_oku: 317.06755300681
growth_capex_cash_oku: 351.41653791588
total_capex_cash_oku: 668.48409092269
company_fcf_pre_distributions_oku: 502.38620644205
parent_declared_and_paid_dividends_oku: 314.05175379932
nci_cash_dividends_oku: 25.955498752512
issuer_buyback_cash_oku: 3.71302405019
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 81.330104743181
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 123001
company_parent_shares_bought_and_cancelled: 374741
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 966.65763500396
buyback_execution_price_twd_proxy: 990.82407587906
old_cohort_shares_tendered_proportionately: 374687.22531462
old_cohort_ownership_end: 0.99985650173003
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 742.60486556164
sbc_equity_paid_in_oku: 1.1890033237755
parent_dividends_oku: 314.05175379932
issuer_repurchase_deduction_oku: 3.71302405019
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 91.991012317326
subsidiary_sbc_credit_to_nci_oku_proxy: 0.11097364355238
nci_dividends_oku: 25.955498752512
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 4544.0562016001
group_cash_oku: 2252.0464017337
group_interest_bearing_debt_ex_lease_oku: 822.3377257366
group_net_cash_ex_lease_oku: 1429.7086759971
非支配持分資本（億）: 869.51511773115
issuer_economic_shares: 2596803691
old_holder_cohort_shares: 2596431054.1629
old_holder_fraction: 0.99985650173003
total_other_liabilities_and_leases_proxy_oku: 3508.8444263912
other_non_cash_assets_plug_proxy_oku: 7492.7070697254
total_assets_plug_proxy_oku: 9744.7534714591
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

7926.6888251702

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.020213
price_growth: -0.00324
annual_operating_margin_before_sbc: 0.1610525

infrastructure

volume_growth: 0.0335491
price_growth: -0.00324
annual_operating_margin_before_sbc: 0.1429375

automation

volume_growth: 0.0173278
price_growth: 0
annual_operating_margin_before_sbc: 0.023875

mobility

volume_growth: -0.0135385
price_growth: -0.00324
annual_operating_margin_before_sbc: -0.0205125

noncapex_working_capital_ratio_on_incremental_revenue

0.19

内容を開く

period_id

FY2030

fiscal_year

2030

period_start

2030-01-01

期間末

2030-12-31

inclusive_days

365

fiscal_year_days

365

fiscal_year_fraction

data_class

forecast

opening

内容を開く

親会社持分（億）: 4544.0562016001
group_cash_oku: 2252.0464017337
group_interest_bearing_debt_ex_lease_oku: 822.3377257366
非支配持分資本（億）: 869.51511773115
issuer_economic_shares: 2596803691
old_holder_cohort_shares: 2596431054.1629
old_holder_fraction: 0.99985650173003

pnl

内容を開く

consolidated_sales_oku

8118.4467278235

segments_sales_oku

内容を開く

power_components: 4305.7592304556
infrastructure: 2806.728717236
automation: 673.9819639646
mobility: 316.12099344134

operating_profit_pre_sbc_oku

1122.1782681726

parent_share_sbc_expense_oku

1.2177670091735

subsidiary_share_sbc_expense_oku

0.11365825418953

ifrs_operating_profit_after_sbc_oku

1120.8468429092

net_nonoperating_income_oku

48.310618593195

ifrs_profit_before_tax_oku

1169.1574615024

income_tax_expense_oku

298.13515268311

consolidated_profit_oku

871.02230881928

parent_net_income_after_sbc_oku

773.17746946192

nci_profit_oku

97.844839357366

税率

25.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1209.3682820584
pnl_cash_bridge_oku: 871.02230881928
depreciation_and_amortization_addback_oku: 373.44854947988
parent_non_cash_sbc_addback_oku: 1.2177670091735
subsidiary_non_cash_sbc_addback_oku: 0.11365825418953
working_capital_investment_oku: 36.434001504118
maintenance_capex_cash_oku: 324.73786911294
growth_capex_cash_oku: 340.97476256859
total_capex_cash_oku: 665.71263168153
company_fcf_pre_distributions_oku: 543.65565037688
parent_declared_and_paid_dividends_oku: 326.74614084712
nci_cash_dividends_oku: 27.597303695198
issuer_buyback_cash_oku: 3.8658899204334
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 74.010395316294
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 122387
company_parent_shares_bought_and_cancelled: 379050
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 995.01382993644
buyback_execution_price_twd_proxy: 1019.8891756848
old_cohort_shares_tendered_proportionately: 378977.74581194
old_cohort_ownership_end: 0.99980938085173
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 773.17746946192
sbc_equity_paid_in_oku: 1.2177670091735
parent_dividends_oku: 326.74614084712
issuer_repurchase_deduction_oku: 3.8658899204334
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 97.844839357366
subsidiary_sbc_credit_to_nci_oku_proxy: 0.11365825418953
nci_dividends_oku: 27.597303695198
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 4987.8394073036
group_cash_oku: 2363.4823223315
group_interest_bearing_debt_ex_lease_oku: 748.32733042031
group_net_cash_ex_lease_oku: 1615.1549919112
非支配持分資本（億）: 939.87631164751
issuer_economic_shares: 2596547028
old_holder_cohort_shares: 2596052076.4171
old_holder_fraction: 0.99980938085173
total_other_liabilities_and_leases_proxy_oku: 3568.0498061411
other_non_cash_assets_plug_proxy_oku: 7880.610533181
total_assets_plug_proxy_oku: 10244.092855512
assets_liabilities_equity_residual_oku: -9.1E-13

annual_run_rate

full_fiscal_year_sales_oku

8118.4467278235

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.02430401
price_growth: -0.002916
annual_operating_margin_before_sbc: 0.162244625

infrastructure

volume_growth: 0.036412807
price_growth: -0.002916
annual_operating_margin_before_sbc: 0.145646875

automation

volume_growth: 0.019782406
price_growth: 0
annual_operating_margin_before_sbc: 0.02929375

mobility

volume_growth: -0.004674645
price_growth: -0.002916
annual_operating_margin_before_sbc: -0.015635625

noncapex_working_capital_ratio_on_incremental_revenue

0.19

内容を開く

period_id

FY2031

fiscal_year

2031

period_start

2031-01-01

期間末

2031-12-31

inclusive_days

365

fiscal_year_days

365

fiscal_year_fraction

data_class

forecast

opening

内容を開く

親会社持分（億）: 4987.8394073036
group_cash_oku: 2363.4823223315
group_interest_bearing_debt_ex_lease_oku: 748.32733042031
非支配持分資本（億）: 939.87631164751
issuer_economic_shares: 2596547028
old_holder_cohort_shares: 2596052076.4171
old_holder_fraction: 0.99980938085173

pnl

内容を開く

consolidated_sales_oku

8340.7967855388

segments_sales_oku

内容を開く

power_components: 4412.3596553204
infrastructure: 2907.468140602
automation: 688.58880614536
mobility: 315.96940694972

operating_profit_pre_sbc_oku

1170.2245343608

parent_share_sbc_expense_oku

1.2511195178308

subsidiary_share_sbc_expense_oku

0.11677115499754

ifrs_operating_profit_after_sbc_oku

1168.856643688

net_nonoperating_income_oku

51.868915203443

ifrs_profit_before_tax_oku

1220.7255588914

income_tax_expense_oku

311.28501751731

consolidated_profit_oku

909.44054137412

parent_net_income_after_sbc_oku

805.3601238613

nci_profit_oku

104.08041751282

税率

25.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1252.2385732158
pnl_cash_bridge_oku: 909.44054137412
depreciation_and_amortization_addback_oku: 383.67665213478
parent_non_cash_sbc_addback_oku: 1.2511195178308
subsidiary_non_cash_sbc_addback_oku: 0.11677115499754
working_capital_investment_oku: 42.246510965905
maintenance_capex_cash_oku: 333.63187142155
growth_capex_cash_oku: 330.85160582637
total_capex_cash_oku: 664.48347724792
company_fcf_pre_distributions_oku: 587.7550959679
parent_declared_and_paid_dividends_oku: 340.19808656324
nci_cash_dividends_oku: 29.35345180721
issuer_buyback_cash_oku: 4.0268037596291
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 67.349459737828
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 122131
company_parent_shares_bought_and_cancelled: 383497
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1024.4119338051
buyback_execution_price_twd_proxy: 1050.0222321502
old_cohort_shares_tendered_proportionately: 383405.86427784
old_cohort_ownership_end: 0.99976235610117
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 805.3601238613
sbc_equity_paid_in_oku: 1.2511195178308
parent_dividends_oku: 340.19808656324
issuer_repurchase_deduction_oku: 4.0268037596291
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 104.08041751282
subsidiary_sbc_credit_to_nci_oku_proxy: 0.11677115499754
nci_dividends_oku: 29.35345180721
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 5450.2257603599
group_cash_oku: 2510.3096164315
group_interest_bearing_debt_ex_lease_oku: 680.97787068248
group_net_cash_ex_lease_oku: 1829.331745749
非支配持分資本（億）: 1014.7200485081
issuer_economic_shares: 2596285662
old_holder_cohort_shares: 2595668670.5528
old_holder_fraction: 0.99976235610117
total_other_liabilities_and_leases_proxy_oku: 3636.1779132346
other_non_cash_assets_plug_proxy_oku: 8271.7919763536
total_assets_plug_proxy_oku: 10782.101592785
assets_liabilities_equity_residual_oku: 9.1E-13

annual_run_rate

full_fiscal_year_sales_oku

8340.7967855388

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.0274540877
price_growth: -0.0026244
annual_operating_margin_before_sbc: 0.16325793125

infrastructure

volume_growth: 0.03861786139
price_growth: -0.0026244
annual_operating_margin_before_sbc: 0.14794984375

automation

volume_growth: 0.02167245262
price_growth: 0
annual_operating_margin_before_sbc: 0.0338996875

mobility

volume_growth: 0.00215052335
price_growth: -0.0026244
annual_operating_margin_before_sbc: -0.01149028125

noncapex_working_capital_ratio_on_incremental_revenue

0.19

内容を開く

period_id

FY2032

fiscal_year

2032

period_start

2032-01-01

期間末

2032-12-31

inclusive_days

366

fiscal_year_days

366

fiscal_year_fraction

data_class

forecast

opening

内容を開く

親会社持分（億）: 5450.2257603599
group_cash_oku: 2510.3096164315
group_interest_bearing_debt_ex_lease_oku: 680.97787068248
非支配持分資本（億）: 1014.7200485081
issuer_economic_shares: 2596285662
old_holder_cohort_shares: 2595668670.5528
old_holder_fraction: 0.99976235610117

pnl

内容を開く

consolidated_sales_oku

8590.0640210673

segments_sales_oku

内容を開く

power_components: 4533.4661893622
infrastructure: 3017.5407240326
automation: 704.51434242934
mobility: 317.55761154367

operating_profit_pre_sbc_oku

1220.491742062

parent_share_sbc_expense_oku

1.2885096031601

subsidiary_share_sbc_expense_oku

0.12026089629494

ifrs_operating_profit_after_sbc_oku

1219.0829715625

net_nonoperating_income_oku

55.795814597367

ifrs_profit_before_tax_oku

1274.8787861599

income_tax_expense_oku

325.09409047078

consolidated_profit_oku

949.78469568914

parent_net_income_after_sbc_oku

839.08201282492

nci_profit_oku

110.70268286421

税率

25.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1298.9756364073
pnl_cash_bridge_oku: 949.78469568914
depreciation_and_amortization_addback_oku: 395.14294496909
parent_non_cash_sbc_addback_oku: 1.2885096031601
subsidiary_non_cash_sbc_addback_oku: 0.12026089629494
working_capital_investment_oku: 47.360774750415
maintenance_capex_cash_oku: 343.60256084269
growth_capex_cash_oku: 320.69572345318
total_capex_cash_oku: 664.29828429587
company_fcf_pre_distributions_oku: 634.6773521114
parent_declared_and_paid_dividends_oku: 354.35845449897
nci_cash_dividends_oku: 31.224125253845
issuer_buyback_cash_oku: 4.1954125785749
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 61.288008361423
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 122157
company_parent_shares_bought_and_cancelled: 388045
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1054.796593826
buyback_execution_price_twd_proxy: 1081.1665086716
old_cohort_shares_tendered_proportionately: 387934.53089046
old_cohort_ownership_end: 0.99971531881787
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 839.08201282492
sbc_equity_paid_in_oku: 1.2885096031601
parent_dividends_oku: 354.35845449897
issuer_repurchase_deduction_oku: 4.1954125785749
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 110.70268286421
subsidiary_sbc_credit_to_nci_oku_proxy: 0.12026089629494
nci_dividends_oku: 31.224125253845
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 5932.0424157104
group_cash_oku: 2693.9209678501
group_interest_bearing_debt_ex_lease_oku: 619.68986232106
group_net_cash_ex_lease_oku: 2074.231105529
非支配持分資本（億）: 1094.3188670148
issuer_economic_shares: 2596019774
old_holder_cohort_shares: 2595280736.0219
old_holder_fraction: 0.99971531881787
total_other_liabilities_and_leases_proxy_oku: 3711.9090524336
other_non_cash_assets_plug_proxy_oku: 8664.0392296297
total_assets_plug_proxy_oku: 11357.96019748
assets_liabilities_equity_residual_oku: -9.1E-13

annual_run_rate

full_fiscal_year_sales_oku

8590.0640210673

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.029879647529
price_growth: -0.00236196
annual_operating_margin_before_sbc: 0.1641192415625

infrastructure

volume_growth: 0.0403157532703
price_growth: -0.00236196
annual_operating_margin_before_sbc: 0.1499073671875

automation

volume_growth: 0.0231277885174
price_growth: 0
annual_operating_margin_before_sbc: 0.037814734375

mobility

volume_growth: 0.0074059029795
price_growth: -0.00236196
annual_operating_margin_before_sbc: -0.0079667390625

noncapex_working_capital_ratio_on_incremental_revenue

0.19

内容を開く

period_id

FY2033

fiscal_year

2033

period_start

2033-01-01

期間末

2033-12-31

inclusive_days

365

fiscal_year_days

365

fiscal_year_fraction

data_class

forecast

opening

内容を開く

親会社持分（億）: 5932.0424157104
group_cash_oku: 2693.9209678501
group_interest_bearing_debt_ex_lease_oku: 619.68986232106
非支配持分資本（億）: 1094.3188670148
issuer_economic_shares: 2596019774
old_holder_cohort_shares: 2595280736.0219
old_holder_fraction: 0.99971531881787

pnl

内容を開く

consolidated_sales_oku

8863.5962299822

segments_sales_oku

内容を開く

power_components: 4667.4485994194
infrastructure: 3136.4586396103
automation: 721.59768600835
mobility: 320.51167086507

operating_profit_pre_sbc_oku

1272.9270754576

parent_share_sbc_expense_oku

1.3295394344973

subsidiary_share_sbc_expense_oku

0.12409034721975

ifrs_operating_profit_after_sbc_oku

1271.4734456758

net_nonoperating_income_oku

60.102773306633

ifrs_profit_before_tax_oku

1331.5762189825

income_tax_expense_oku

339.55193584053

consolidated_profit_oku

992.02428314194

parent_net_income_after_sbc_oku

874.3040682091

nci_profit_oku

117.72021493284

税率

25.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1349.232219809
pnl_cash_bridge_oku: 992.02428314194
depreciation_and_amortization_addback_oku: 407.72542657918
parent_non_cash_sbc_addback_oku: 1.3295394344973
subsidiary_non_cash_sbc_addback_oku: 0.12409034721975
working_capital_investment_oku: 51.971119693827
maintenance_capex_cash_oku: 354.54384919929
growth_capex_cash_oku: 310.22586804938
total_capex_cash_oku: 664.76971724866
company_fcf_pre_distributions_oku: 684.46250256035
parent_declared_and_paid_dividends_oku: 369.19608564297
nci_cash_dividends_oku: 33.210804859263
issuer_buyback_cash_oku: 4.3715230189113
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 55.772087608895
cash_end_reconciliation_residual_oku: -4.5E-13

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 122410
company_parent_shares_bought_and_cancelled: 392668
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1086.1339620888
buyback_execution_price_twd_proxy: 1113.287311141
old_cohort_shares_tendered_proportionately: 392537.70549726
old_cohort_ownership_end: 0.99966818151047
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 874.3040682091
sbc_equity_paid_in_oku: 1.3295394344973
parent_dividends_oku: 369.19608564297
issuer_repurchase_deduction_oku: 4.3715230189113
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 117.72021493284
subsidiary_sbc_credit_to_nci_oku_proxy: 0.12409034721975
nci_dividends_oku: 33.210804859263
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 6434.1084146921
group_cash_oku: 2915.8329692804
group_interest_bearing_debt_ex_lease_oku: 563.91777471216
group_net_cash_ex_lease_oku: 2351.9151945682
非支配持分資本（億）: 1178.9523674356
issuer_economic_shares: 2595749516
old_holder_cohort_shares: 2594888198.3164
old_holder_fraction: 0.99966818151047
total_other_liabilities_and_leases_proxy_oku: 3794.25767445
other_non_cash_assets_plug_proxy_oku: 9055.4032620094
total_assets_plug_proxy_oku: 11971.23623129
assets_liabilities_equity_residual_oku: 1.82E-12

annual_run_rate

full_fiscal_year_sales_oku

8863.5962299822

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.03174732859733
price_growth: -0.002125764
annual_operating_margin_before_sbc: 0.16485135532813

infrastructure

volume_growth: 0.04162313001813
price_growth: -0.002125764
annual_operating_margin_before_sbc: 0.15157126210937

automation

volume_growth: 0.0242483971584
price_growth: 0
annual_operating_margin_before_sbc: 0.04114252421875

mobility

volume_growth: 0.01145254529421
price_growth: -0.002125764
annual_operating_margin_before_sbc: -0.00497172820312

noncapex_working_capital_ratio_on_incremental_revenue

0.19

内容を開く

period_id

FY2034

fiscal_year

2034

period_start

2034-01-01

期間末

2034-12-31

inclusive_days

365

fiscal_year_days

365

fiscal_year_fraction

data_class

forecast

opening

内容を開く

親会社持分（億）: 6434.1084146921
group_cash_oku: 2915.8329692804
group_interest_bearing_debt_ex_lease_oku: 563.91777471216
非支配持分資本（億）: 1178.9523674356
issuer_economic_shares: 2595749516
old_holder_cohort_shares: 2594888198.3164
old_holder_fraction: 0.99966818151047

pnl

内容を開く

consolidated_sales_oku

9159.4944827082

segments_sales_oku

内容を開く

power_components: 4813.1139079706
infrastructure: 3263.9088361914
automation: 739.71791731101
mobility: 324.55889996332

operating_profit_pre_sbc_oku

1327.5133732453

parent_share_sbc_expense_oku

1.3739241724062

subsidiary_share_sbc_expense_oku

0.12823292275791

ifrs_operating_profit_after_sbc_oku

1326.0112161501

net_nonoperating_income_oku

64.805282161526

ifrs_profit_before_tax_oku

1390.8164983117

income_tax_expense_oku

354.65820706947

consolidated_profit_oku

1036.1582912422

parent_net_income_after_sbc_oku

911.01339539994

nci_profit_oku

125.14489584225

税率

25.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1402.776526524
pnl_cash_bridge_oku: 1036.1582912422
depreciation_and_amortization_addback_oku: 421.33674620458
parent_non_cash_sbc_addback_oku: 1.3739241724062
subsidiary_non_cash_sbc_addback_oku: 0.12823292275791
working_capital_investment_oku: 56.22066801795
maintenance_capex_cash_oku: 366.37977930833
growth_capex_cash_oku: 299.2101531018
total_capex_cash_oku: 665.58993241013
company_fcf_pre_distributions_oku: 737.18659411385
parent_declared_and_paid_dividends_oku: 384.693790012
nci_cash_dividends_oku: 35.316064479853
issuer_buyback_cash_oku: 4.5550686664905
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 50.752599724095
cash_end_reconciliation_residual_oku: -4.5E-13

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 122846
company_parent_shares_bought_and_cancelled: 397348
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1118.4073987342
buyback_execution_price_twd_proxy: 1146.3675837026
old_cohort_shares_tendered_proportionately: 397197.35489225
old_cohort_ownership_end: 0.99962087362306
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 911.01339539994
sbc_equity_paid_in_oku: 1.3739241724062
parent_dividends_oku: 384.693790012
issuer_repurchase_deduction_oku: 4.5550686664905
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 125.14489584225
subsidiary_sbc_credit_to_nci_oku_proxy: 0.12823292275791
nci_dividends_oku: 35.316064479853
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 6957.246875586
group_cash_oku: 3177.7020405118
group_interest_bearing_debt_ex_lease_oku: 513.16517498807
group_net_cash_ex_lease_oku: 2664.5368655237
非支配持分資本（億）: 1268.9094317207
issuer_economic_shares: 2595475014
old_holder_cohort_shares: 2594491000.9615
old_holder_fraction: 0.99962087362306
total_other_liabilities_and_leases_proxy_oku: 3882.4860158079
other_non_cash_assets_plug_proxy_oku: 9444.1054575908
total_assets_plug_proxy_oku: 12621.807498103
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

9159.4944827082

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.03318544301994
price_growth: -0.0019131876
annual_operating_margin_before_sbc: 0.16547365202891

infrastructure

volume_growth: 0.04262981011396
price_growth: -0.0019131876
annual_operating_margin_before_sbc: 0.15298557279297

automation

volume_growth: 0.02511126581197
price_growth: 0
annual_operating_margin_before_sbc: 0.04397114558594

mobility

volume_growth: 0.01456845987655
price_growth: -0.0019131876
annual_operating_margin_before_sbc: -0.00242596897266

noncapex_working_capital_ratio_on_incremental_revenue

0.19

内容を開く

period_id

FY2035

fiscal_year

2035

period_start

2035-01-01

期間末

2035-12-31

inclusive_days

365

fiscal_year_days

365

fiscal_year_fraction

data_class

forecast

opening

内容を開く

親会社持分（億）: 6957.246875586
group_cash_oku: 3177.7020405118
group_interest_bearing_debt_ex_lease_oku: 513.16517498807
非支配持分資本（億）: 1268.9094317207
issuer_economic_shares: 2595475014
old_holder_cohort_shares: 2594491000.9615
old_holder_fraction: 0.99962087362306

pnl

内容を開く

consolidated_sales_oku

9476.4259339802

segments_sales_oku

内容を開く

power_components: 4969.5972637671
infrastructure: 3399.7146886369
automation: 758.78464569904
mobility: 329.49759236086

operating_profit_pre_sbc_oku

1384.2630463789

parent_share_sbc_expense_oku

1.421463890097

subsidiary_share_sbc_expense_oku

0.13266996307572

ifrs_operating_profit_after_sbc_oku

1382.7089125258

net_nonoperating_income_oku

69.922176925234

ifrs_profit_before_tax_oku

1452.631089451

income_tax_expense_oku

370.42092781

consolidated_profit_oku

1082.210161641

parent_net_income_after_sbc_oku

949.21855733267

nci_profit_oku

132.99160430833

税率

25.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1459.4629127156
pnl_cash_bridge_oku: 1082.210161641
depreciation_and_amortization_addback_oku: 435.91559296309
parent_non_cash_sbc_addback_oku: 1.421463890097
subsidiary_non_cash_sbc_addback_oku: 0.13266996307572
working_capital_investment_oku: 60.216975741683
maintenance_capex_cash_oku: 379.05703735921
growth_capex_cash_oku: 287.45158666407
total_capex_cash_oku: 666.50862402328
company_fcf_pre_distributions_oku: 792.9542886923
parent_declared_and_paid_dividends_oku: 400.84589397597
nci_cash_dividends_oku: 37.543468752675
issuer_buyback_cash_oku: 4.7460984865927
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 46.184865748926
cash_end_reconciliation_residual_oku: 4.5E-13

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 123432
company_parent_shares_bought_and_cancelled: 402074
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1151.6138787685
buyback_execution_price_twd_proxy: 1180.4042257377
old_cohort_shares_tendered_proportionately: 401902.45002174
old_cohort_ownership_end: 0.999573337301
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 949.21855733267
sbc_equity_paid_in_oku: 1.421463890097
parent_dividends_oku: 400.84589397597
issuer_repurchase_deduction_oku: 4.7460984865927
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 132.99160430833
subsidiary_sbc_credit_to_nci_oku_proxy: 0.13266996307572
nci_dividends_oku: 37.543468752675
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 7502.2949043462
group_cash_oku: 3481.3360022399
group_interest_bearing_debt_ex_lease_oku: 466.98030923914
group_net_cash_ex_lease_oku: 3014.3556930008
非支配持分資本（億）: 1364.4902372395
issuer_economic_shares: 2595196372
old_holder_cohort_shares: 2594089098.5115
old_holder_fraction: 0.999573337301
total_other_liabilities_and_leases_proxy_oku: 3976.0427676967
other_non_cash_assets_plug_proxy_oku: 9828.4722162815
total_assets_plug_proxy_oku: 13309.808218521
assets_liabilities_equity_residual_oku: 2.73E-12

annual_run_rate

full_fiscal_year_sales_oku

9476.4259339802

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.03429279112536
price_growth: -0.00172186884
annual_operating_margin_before_sbc: 0.16600260422457

infrastructure

volume_growth: 0.04340495378775
price_growth: -0.00172186884
annual_operating_margin_before_sbc: 0.15418773687402

automation

volume_growth: 0.02577567467521
price_growth: 0
annual_operating_margin_before_sbc: 0.04637547374805

mobility

volume_growth: 0.01696771410494
price_growth: -0.00172186884
annual_operating_margin_before_sbc: -0.00026207362676

noncapex_working_capital_ratio_on_incremental_revenue

0.19

内容を開く

period_id

2036_preexit_partial

fiscal_year

2036

period_start

2036-01-01

期間末

2036-11-06

inclusive_days

311

fiscal_year_days

366

fiscal_year_fraction

0.84972677595628

data_class

forecast

opening

内容を開く

親会社持分（億）: 7502.2949043462
group_cash_oku: 3481.3360022399
group_interest_bearing_debt_ex_lease_oku: 466.98030923914
非支配持分資本（億）: 1364.4902372395
issuer_economic_shares: 2595196372
old_holder_cohort_shares: 2594089098.5115
old_holder_fraction: 0.999573337301

pnl

内容を開く

consolidated_sales_oku

8338.785918802

segments_sales_oku

内容を開く

power_components: 4364.4380701351
infrastructure: 3011.2685501881
automation: 661.70860080814
mobility: 284.80879668225

operating_profit_pre_sbc_oku

1226.3366746507

parent_share_sbc_expense_oku

1.2508178878203

subsidiary_share_sbc_expense_oku

0.11674300286323

ifrs_operating_profit_after_sbc_oku

1224.96911376

net_nonoperating_income_oku

64.133271659162

ifrs_profit_before_tax_oku

1289.1023854192

income_tax_expense_oku

328.7211082819

consolidated_profit_oku

960.3812771373

parent_net_income_after_sbc_oku

840.33361749514

nci_profit_oku

120.04765964216

税率

25.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1290.9145084497
pnl_cash_bridge_oku: 960.3812771373
depreciation_and_amortization_addback_oku: 383.58415226489
parent_non_cash_sbc_addback_oku: 1.2508178878203
subsidiary_non_cash_sbc_addback_oku: 0.11674300286323
working_capital_investment_oku: 54.418481843165
maintenance_capex_cash_oku: 333.55143675208
growth_capex_cash_oku: 233.48600572646
total_capex_cash_oku: 567.03744247853
company_fcf_pre_distributions_oku: 723.87706597118
parent_declared_and_paid_dividends_oku: 417.65616522637
nci_cash_dividends_oku: 39.897481292498
issuer_buyback_cash_oku: 4.2016675419635
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 35.712510534436
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 105487
company_parent_shares_bought_and_cancelled: 345701
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1185.7610610956
buyback_execution_price_twd_proxy: 1215.405087623
old_cohort_shares_tendered_proportionately: 345539.457129
old_cohort_ownership_end: 0.99953270927453
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 840.33361749514
sbc_equity_paid_in_oku: 1.2508178878203
parent_dividends_oku: 417.65616522637
issuer_repurchase_deduction_oku: 4.2016675419635
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 120.04765964216
subsidiary_sbc_credit_to_nci_oku_proxy: 0.11674300286323
nci_dividends_oku: 39.897481292498
delta_thailand_exchangeable_bond_to_nci_oku_assumed: 0
nci_equity_end_reconciliation_residual_oku: 0

closing

内容を開く

親会社持分（億）: 7922.0215069608
group_cash_oku: 3707.7452436159
group_interest_bearing_debt_ex_lease_oku: 431.26779870471
group_net_cash_ex_lease_oku: 3276.4774449111
非支配持分資本（億）: 1444.757158592
issuer_economic_shares: 2594956158
old_holder_cohort_shares: 2593743559.0544
old_holder_fraction: 0.99953270927453
total_other_liabilities_and_leases_proxy_oku: 4074.5186580791
other_non_cash_assets_plug_proxy_oku: 10164.819878721
total_assets_plug_proxy_oku: 13872.565122337
assets_liabilities_equity_residual_oku: 9.1E-13

annual_run_rate

full_fiscal_year_sales_oku

9813.4908240564

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.03514544916652
price_growth: -0.001549681956
annual_operating_margin_before_sbc: 0.16645221359088

infrastructure

volume_growth: 0.04400181441657
price_growth: -0.001549681956
annual_operating_margin_before_sbc: 0.15520957634292

automation

volume_growth: 0.02628726949991
price_growth: 0
annual_operating_margin_before_sbc: 0.04841915268584

mobility

volume_growth: 0.0188151398608
price_growth: -0.001549681956
annual_operating_margin_before_sbc: 0.00157723741726

noncapex_working_capital_ratio_on_incremental_revenue

0.19

forecast_full_fiscal_year_runrates

内容を開く

2028

内容を開く

full_year_annual_sales_oku

7657.3613312975

full_year_annual_segment_sales_oku

内容を開く

power_components: 4099.6869462978
infrastructure: 2569.300772188
automation: 640.5926255913
mobility: 333.47994357037

full_year_annual_parent_net_income_oku

687.68262164589

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.008
price_growth: -0.004
annual_operating_margin_before_sbc: 0.158

infrastructure

volume_growth: 0.025
price_growth: -0.004
annual_operating_margin_before_sbc: 0.136

automation

volume_growth: 0.01
price_growth: 0
annual_operating_margin_before_sbc: 0.01

mobility

volume_growth: -0.04
price_growth: -0.004
annual_operating_margin_before_sbc: -0.033

2029

内容を開く

full_year_annual_sales_oku

7770.6191228577

full_year_annual_segment_sales_oku

内容を開く

power_components: 4145.7935015832
infrastructure: 2636.4176193712
automation: 649.65060531717
mobility: 323.95581640839

full_year_annual_parent_net_income_oku

713.75398590754

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.0149
price_growth: -0.0036
annual_operating_margin_before_sbc: 0.15965

infrastructure

volume_growth: 0.02983
price_growth: -0.0036
annual_operating_margin_before_sbc: 0.13975

automation

volume_growth: 0.01414
price_growth: 0
annual_operating_margin_before_sbc: 0.0175

mobility

volume_growth: -0.02505
price_growth: -0.0036
annual_operating_margin_before_sbc: -0.02625

2030

内容を開く

full_year_annual_sales_oku

7926.6888251702

full_year_annual_segment_sales_oku

内容を開く

power_components: 4215.8885461716
infrastructure: 2716.0384884582
automation: 660.90762107598
mobility: 318.53453398044

full_year_annual_parent_net_income_oku

742.60486556164

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.020213
price_growth: -0.00324
annual_operating_margin_before_sbc: 0.1610525

infrastructure

volume_growth: 0.0335491
price_growth: -0.00324
annual_operating_margin_before_sbc: 0.1429375

automation

volume_growth: 0.0173278
price_growth: 0
annual_operating_margin_before_sbc: 0.023875

mobility

volume_growth: -0.0135385
price_growth: -0.00324
annual_operating_margin_before_sbc: -0.0205125

2031

内容を開く

full_year_annual_sales_oku

8118.4467278235

full_year_annual_segment_sales_oku

内容を開く

power_components: 4305.7592304556
infrastructure: 2806.728717236
automation: 673.9819639646
mobility: 316.12099344134

full_year_annual_parent_net_income_oku

773.17746946192

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.02430401
price_growth: -0.002916
annual_operating_margin_before_sbc: 0.162244625

infrastructure

volume_growth: 0.036412807
price_growth: -0.002916
annual_operating_margin_before_sbc: 0.145646875

automation

volume_growth: 0.019782406
price_growth: 0
annual_operating_margin_before_sbc: 0.02929375

mobility

volume_growth: -0.004674645
price_growth: -0.002916
annual_operating_margin_before_sbc: -0.015635625

2032

内容を開く

full_year_annual_sales_oku

8340.7967855388

full_year_annual_segment_sales_oku

内容を開く

power_components: 4412.3596553204
infrastructure: 2907.468140602
automation: 688.58880614536
mobility: 315.96940694972

full_year_annual_parent_net_income_oku

805.3601238613

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.0274540877
price_growth: -0.0026244
annual_operating_margin_before_sbc: 0.16325793125

infrastructure

volume_growth: 0.03861786139
price_growth: -0.0026244
annual_operating_margin_before_sbc: 0.14794984375

automation

volume_growth: 0.02167245262
price_growth: 0
annual_operating_margin_before_sbc: 0.0338996875

mobility

volume_growth: 0.00215052335
price_growth: -0.0026244
annual_operating_margin_before_sbc: -0.01149028125

2033

内容を開く

full_year_annual_sales_oku

8590.0640210673

full_year_annual_segment_sales_oku

内容を開く

power_components: 4533.4661893622
infrastructure: 3017.5407240326
automation: 704.51434242934
mobility: 317.55761154367

full_year_annual_parent_net_income_oku

839.08201282492

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.029879647529
price_growth: -0.00236196
annual_operating_margin_before_sbc: 0.1641192415625

infrastructure

volume_growth: 0.0403157532703
price_growth: -0.00236196
annual_operating_margin_before_sbc: 0.1499073671875

automation

volume_growth: 0.0231277885174
price_growth: 0
annual_operating_margin_before_sbc: 0.037814734375

mobility

volume_growth: 0.0074059029795
price_growth: -0.00236196
annual_operating_margin_before_sbc: -0.0079667390625

2034

内容を開く

full_year_annual_sales_oku

8863.5962299822

full_year_annual_segment_sales_oku

内容を開く

power_components: 4667.4485994194
infrastructure: 3136.4586396103
automation: 721.59768600835
mobility: 320.51167086507

full_year_annual_parent_net_income_oku

874.3040682091

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.03174732859733
price_growth: -0.002125764
annual_operating_margin_before_sbc: 0.16485135532813

infrastructure

volume_growth: 0.04162313001813
price_growth: -0.002125764
annual_operating_margin_before_sbc: 0.15157126210937

automation

volume_growth: 0.0242483971584
price_growth: 0
annual_operating_margin_before_sbc: 0.04114252421875

mobility

volume_growth: 0.01145254529421
price_growth: -0.002125764
annual_operating_margin_before_sbc: -0.00497172820312

2035

内容を開く

full_year_annual_sales_oku

9159.4944827082

full_year_annual_segment_sales_oku

内容を開く

power_components: 4813.1139079706
infrastructure: 3263.9088361914
automation: 739.71791731101
mobility: 324.55889996332

full_year_annual_parent_net_income_oku

911.01339539994

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.03318544301994
price_growth: -0.0019131876
annual_operating_margin_before_sbc: 0.16547365202891

infrastructure

volume_growth: 0.04262981011396
price_growth: -0.0019131876
annual_operating_margin_before_sbc: 0.15298557279297

automation

volume_growth: 0.02511126581197
price_growth: 0
annual_operating_margin_before_sbc: 0.04397114558594

mobility

volume_growth: 0.01456845987655
price_growth: -0.0019131876
annual_operating_margin_before_sbc: -0.00242596897266

2036

内容を開く

full_year_annual_sales_oku

9476.4259339802

full_year_annual_segment_sales_oku

内容を開く

power_components: 4969.5972637671
infrastructure: 3399.7146886369
automation: 758.78464569904
mobility: 329.49759236086

full_year_annual_parent_net_income_oku

949.21855733267

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.03429279112536
price_growth: -0.00172186884
annual_operating_margin_before_sbc: 0.16600260422457

infrastructure

volume_growth: 0.04340495378775
price_growth: -0.00172186884
annual_operating_margin_before_sbc: 0.15418773687402

automation

volume_growth: 0.02577567467521
price_growth: 0
annual_operating_margin_before_sbc: 0.04637547374805

mobility

volume_growth: 0.01696771410494
price_growth: -0.00172186884
annual_operating_margin_before_sbc: -0.00026207362676

2037

内容を開く

full_year_annual_sales_oku

9813.4908240564

full_year_annual_segment_sales_oku

内容を開く

power_components: 5136.2840310914
infrastructure: 3543.8080044015
automation: 778.73102217293
mobility: 335.17691185114

full_year_annual_parent_net_income_oku

988.94567203608

period_realized_fraction

0.84972677595628

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.03514544916652
price_growth: -0.001549681956
annual_operating_margin_before_sbc: 0.16645221359088

infrastructure

volume_growth: 0.04400181441657
price_growth: -0.001549681956
annual_operating_margin_before_sbc: 0.15520957634292

automation

volume_growth: 0.02628726949991
price_growth: 0
annual_operating_margin_before_sbc: 0.04841915268584

mobility

volume_growth: 0.0188151398608
price_growth: -0.001549681956
annual_operating_margin_before_sbc: 0.00157723741726

quarter_bridges

内容を開く

2026_FY_realized_9M_parent_income_oku: 691.85826
2026_Oct01_to_Nov06_37day_parent_proxy_oku: 111.85247838326
2026_Nov07_to_Dec31_55day_parent_forecast_oku: 149.4124978924
2026_full_FY_parent_income_actual_plus_proxy_plus_forecast_oku: 953.12323627566
2026_FY_revenue_actual_plus_proxy_plus_forecast_oku: 7597.0229686957
first_partial_55_92_of_Q4: 0.59782608695652
last_partial_311_366_of_FY2036: 0.84972677595628

scenario_drivers

内容を開く

prob

20.00%

q4_sales_mult

0.966

q4_margin_shift

-0.013

tax

0.255

nci_low

0.106

nci_up

0.125

nonop

0.005

growth

内容を開く

power_components

1: 0.008
2: 0.038

infrastructure

1: 0.025
2: 0.046

automation

1: 0.01
2: 0.028

mobility

1: -0.04
2: 0.025

prices

内容を開く

power_components: -0.004
infrastructure: -0.004
automation: 0
mobility: -0.004

margin_begin

内容を開く

power_components: 0.158
infrastructure: 0.136
automation: 0.01
mobility: -0.033

margin_end

内容を開く

power_components: 0.169
infrastructure: 0.161
automation: 0.06
mobility: 0.012

capex_begin

0.089

capex_end

0.068

0.19

payout

0.44

buyback

0.005

nci_div

0.3

terminal

内容を開く

日付

2036-11-06

year_of_actual_elapsed_days

10.001368925394

site_exponent_years

strict_exit_before_any_2037_ex_date

はい

post_exit_seller_dividend_receivable_oku

sells_cum_future_rights_at_exit

はい

方法

finite_18_year_competitive_ROE_fade_equity_FCFE_DCF_plus_mature_book_value; not_mkt_PE_or_PB

method_equivalent

current_parent_book +PV(residual_earnings_minus_extra_SBC_buyback_cost)

parent_book_equity_at_exit_oku

7922.0215069608

2036_full_fiscal_year_parent_profit_proxy_oku

988.94567203608

2037_full_fiscal_year_parent_profit_proxy_oku

1002.988700579

next12mo_2036_Nov07_to_Dec31_days

next12mo_2037_Jan01_to_Nov06_days

310

next12mo_NI_from_2036_FY_and_2037_FY_proxy_oku

1000.465471471

next12mo_roe

0.12628916376861

end_18_year_book_equity_oku

15346.555773509

book_equity_mature_value_after_year18_oku

15346.555773509

mature_year19_extra_sbc_buyback_over_grant_value_oku

0.31076775441357

mature_cash_FCFE_capital_growth_rate

0.025

perpetuity_extra_sbc_repurchase_cost_capitalized_at_year18_oku

4.7810423755933

mature_year18_continuation_value_oku

15341.774731134

finite_18_year_cash_FCFE_PV_oku

6446.1094719283

tail_PV_oku

3252.3602057966

company_parent_equity_valuation_DCF_oku

9698.4696777249

company_parent_equity_valuation_RI_crosscheck_oku

9698.4696777249

sbc_continuation_duplicate_count_prevention

NI after SBC; CFO plus noncash SBC; exact-granted-shares buyback at 15pct above grant FV; extra cash premium deducted; parent shares flat thereafter

18_year_owner_distribution_and_reinvestment

内容を開く

forward_year: 2037
years_after_exit: 1
start_book_equity_oku: 7922.0215069608
sustainable_roe: 0.12628916376861
parent_ni_after_sbc_oku: 1000.465471471
required_book_reinvestment_oku: 411.94511836196
book_growth_rate: 0.052
employee_sbc_expense_already_in_ni_oku: 1.5006982072066
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 1.7258029382876
repurchase_minus_sbc_addback_oku: 0.22510473108099
sustainable_distributable_to_parent_common_cash_oku: 588.29524837801
end_book_equity_oku: 8333.9666253227
residual_profit_after_capital_charge_oku: 287.2584311135
present_value_owner_fcfe_oku: 539.72041135597

内容を開く

forward_year: 2038
years_after_exit: 2
start_book_equity_oku: 8333.9666253227
sustainable_roe: 0.12370199853531
parent_ni_after_sbc_oku: 1030.928327279
required_book_reinvestment_oku: 417.83148484109
book_growth_rate: 0.05013596809609
employee_sbc_expense_already_in_ni_oku: 1.5463924909184
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 1.7783513645562
repurchase_minus_sbc_addback_oku: 0.23195887363776
sustainable_distributable_to_parent_common_cash_oku: 612.86488356423
end_book_equity_oku: 8751.7981101638
residual_profit_after_capital_charge_oku: 280.63937212627
present_value_owner_fcfe_oku: 515.83611107165

内容を開く

forward_year: 2039
years_after_exit: 3
start_book_equity_oku: 8751.7981101638
sustainable_roe: 0.12115018373249
parent_ni_after_sbc_oku: 1060.281949036
required_book_reinvestment_oku: 422.648847471
book_growth_rate: 0.04829280133647
employee_sbc_expense_already_in_ni_oku: 1.590422923554
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 1.8289863620871
repurchase_minus_sbc_addback_oku: 0.2385634385331
sustainable_distributable_to_parent_common_cash_oku: 637.39453812647
end_book_equity_oku: 9174.4469576348
residual_profit_after_capital_charge_oku: 272.38155568272
present_value_owner_fcfe_oku: 492.18553262241

内容を開く

forward_year: 2040
years_after_exit: 4
start_book_equity_oku: 9174.4469576348
sustainable_roe: 0.11863554677538
parent_ni_after_sbc_oku: 1088.4155311807
required_book_reinvestment_oku: 426.35155176069
book_growth_rate: 0.04647163515463
employee_sbc_expense_already_in_ni_oku: 1.6326232967711
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 1.8775167912868
repurchase_minus_sbc_addback_oku: 0.24489349451567
sustainable_distributable_to_parent_common_cash_oku: 661.81908592554
end_book_equity_oku: 9600.7985093955
residual_profit_after_capital_charge_oku: 262.47041149909
present_value_owner_fcfe_oku: 468.84932563377

内容を開く

forward_year: 2041
years_after_exit: 5
start_book_equity_oku: 9600.7985093955
sustainable_roe: 0.11616014617463
parent_ni_after_sbc_oku: 1115.2301582446
required_book_reinvestment_oku: 428.90369166371
book_growth_rate: 0.04467375200552
employee_sbc_expense_already_in_ni_oku: 1.6728452373669
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 1.9237720229719
repurchase_minus_sbc_addback_oku: 0.25092678560503
sustainable_distributable_to_parent_common_cash_oku: 686.07553979526
end_book_equity_oku: 10029.702201059
residual_profit_after_capital_charge_oku: 250.90736561338
present_value_owner_fcfe_oku: 445.90202668452

内容を開く

forward_year: 2042
years_after_exit: 6
start_book_equity_oku: 10029.702201059
sustainable_roe: 0.11372632072284
parent_ni_after_sbc_oku: 1140.6411292722
required_book_reinvestment_oku: 430.28037419441
book_growth_rate: 0.04290061315569
employee_sbc_expense_already_in_ni_oku: 1.7109616939083
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 1.9676059479945
repurchase_minus_sbc_addback_oku: 0.25664425408624
sustainable_distributable_to_parent_common_cash_oku: 710.10411082369
end_book_equity_oku: 10459.982575254
residual_profit_after_capital_charge_oku: 237.71128692277
present_value_owner_fcfe_oku: 423.41187996679

内容を開く

forward_year: 2043
years_after_exit: 7
start_book_equity_oku: 10459.982575254
sustainable_roe: 0.11133675411547
parent_ni_after_sbc_oku: 1164.5805080331
required_book_reinvestment_oku: 430.4690828745
book_growth_rate: 0.04115390057082
employee_sbc_expense_already_in_ni_oku: 1.7468707620497
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.0089013763571
repurchase_minus_sbc_addback_oku: 0.26203061430745
sustainable_distributable_to_parent_common_cash_oku: 733.84939454431
end_book_equity_oku: 10890.451658128
residual_profit_after_capital_charge_oku: 222.92004564598
present_value_owner_fcfe_oku: 401.44074937327

内容を開く

forward_year: 2044
years_after_exit: 8
start_book_equity_oku: 10890.451658128
sustainable_roe: 0.10899456169541
parent_ni_after_sbc_oku: 1187.0000051427
required_book_reinvestment_oku: 429.47120486321
book_growth_rate: 0.03943557332103
employee_sbc_expense_already_in_ni_oku: 1.7805000077141
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.0475750088712
repurchase_minus_sbc_addback_oku: 0.26707500115711
sustainable_distributable_to_parent_common_cash_oku: 757.26172527835
end_book_equity_oku: 11319.922862991
residual_profit_after_capital_charge_oku: 206.59228091003
present_value_owner_fcfe_oku: 380.04412480403

内容を開く

forward_year: 2045
years_after_exit: 9
start_book_equity_oku: 11319.922862991
sustainable_roe: 0.10670340987206
parent_ni_after_sbc_oku: 1207.8743689699
required_book_reinvestment_oku: 427.3038312833
book_growth_rate: 0.03774794549884
employee_sbc_expense_already_in_ni_oku: 1.8118115534548
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.0835832864731
repurchase_minus_sbc_addback_oku: 0.27177173301823
sustainable_distributable_to_parent_common_cash_oku: 780.29876595358
end_book_equity_oku: 11747.226694275
residual_profit_after_capital_charge_oku: 188.80953956766
present_value_owner_fcfe_oku: 359.27122816732

内容を開く

forward_year: 2046
years_after_exit: 10
start_book_equity_oku: 11747.226694275
sustainable_roe: 0.10446768554064
parent_ni_after_sbc_oku: 1227.2055842721
required_book_reinvestment_oku: 424.00201769003
book_growth_rate: 0.03609379717654
employee_sbc_expense_already_in_ni_oku: 1.8408083764082
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.1169296328695
repurchase_minus_sbc_addback_oku: 0.27612125646123
sustainable_distributable_to_parent_common_cash_oku: 802.92744532565
end_book_equity_oku: 12171.228711965
residual_profit_after_capital_charge_oku: 169.67906053097
present_value_owner_fcfe_oku: 339.1652300587

内容を開く

forward_year: 2047
years_after_exit: 11
start_book_equity_oku: 12171.228711965
sustainable_roe: 0.10229274535742
parent_ni_after_sbc_oku: 1245.0283993199
required_book_reinvestment_oku: 419.62183337099
book_growth_rate: 0.03447653834312
employee_sbc_expense_already_in_ni_oku: 1.8675425989799
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.1476739888268
repurchase_minus_sbc_addback_oku: 0.28013138984698
sustainable_distributable_to_parent_common_cash_oku: 825.12643455908
end_book_equity_oku: 12590.850545336
residual_profit_after_capital_charge_oku: 149.33768385325
present_value_owner_fcfe_oku: 319.76359909455

内容を開く

forward_year: 2048
years_after_exit: 12
start_book_equity_oku: 12590.850545336
sustainable_roe: 0.10018529945323
parent_ni_after_sbc_oku: 1261.4181322553
required_book_reinvestment_oku: 414.24480537872
book_growth_rate: 0.03290046243398
employee_sbc_expense_already_in_ni_oku: 1.892127198383
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.1759462781405
repurchase_minus_sbc_addback_oku: 0.28381907975745
sustainable_distributable_to_parent_common_cash_oku: 846.88950779686
end_book_equity_oku: 13005.095350714
residual_profit_after_capital_charge_oku: 127.95776409537
present_value_owner_fcfe_oku: 301.09862834775

内容を開く

forward_year: 2049
years_after_exit: 13
start_book_equity_oku: 13005.095350714
sustainable_roe: 0.09815403707598
parent_ni_after_sbc_oku: 1276.5026112307
required_book_reinvestment_oku: 407.98495192594
book_growth_rate: 0.03137116191182
employee_sbc_expense_already_in_ni_oku: 1.914753916846
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.2019670043729
repurchase_minus_sbc_addback_oku: 0.28721308752691
sustainable_distributable_to_parent_common_cash_oku: 868.23044621722
end_book_equity_oku: 13413.08030264
residual_profit_after_capital_charge_oku: 105.75681657887
present_value_owner_fcfe_oku: 283.19823213073

内容を開く

forward_year: 2050
years_after_exit: 14
start_book_equity_oku: 13413.08030264
sustainable_roe: 0.09621072737522
parent_ni_after_sbc_oku: 1290.4822122593
required_book_reinvestment_oku: 401.00098983443
book_growth_rate: 0.02989626400399
employee_sbc_expense_already_in_ni_oku: 1.935723318389
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.2260818161473
repurchase_minus_sbc_addback_oku: 0.29035849775835
sustainable_distributable_to_parent_common_cash_oku: 889.19086392713
end_book_equity_oku: 13814.081292475
residual_profit_after_capital_charge_oku: 83.014626523925
present_value_owner_fcfe_oku: 266.08722276832

内容を開く

forward_year: 2051
years_after_exit: 15
start_book_equity_oku: 13814.081292475
sustainable_roe: 0.09437237303516
parent_ni_after_sbc_oku: 1303.6676328714
required_book_reinvestment_oku: 393.52008895374
book_growth_rate: 0.02848688093128
employee_sbc_expense_already_in_ni_oku: 1.9555014493071
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.2488266667032
repurchase_minus_sbc_addback_oku: 0.29332521739607
sustainable_distributable_to_parent_common_cash_oku: 909.85421870027
end_book_equity_oku: 14207.601381429
residual_profit_after_capital_charge_oku: 60.10699133128
present_value_owner_fcfe_oku: 249.78959508245

内容を開く

forward_year: 2052
years_after_exit: 16
start_book_equity_oku: 14207.601381429
sustainable_roe: 0.09266615792975
parent_ni_after_sbc_oku: 1316.5638334144
required_book_reinvestment_oku: 385.89228395854
book_growth_rate: 0.02716097345348
employee_sbc_expense_already_in_ni_oku: 1.9748457501216
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.2710726126399
repurchase_minus_sbc_addback_oku: 0.29622686251825
sustainable_distributable_to_parent_common_cash_oku: 930.37532259337
end_book_equity_oku: 14593.493665387
residual_profit_after_capital_charge_oku: 37.583482223339
present_value_owner_fcfe_oku: 234.33341169802

内容を開く

forward_year: 2053
years_after_exit: 17
start_book_equity_oku: 14593.493665387
sustainable_roe: 0.09114453552328
parent_ni_after_sbc_oku: 1330.1172017937
required_book_reinvestment_oku: 378.75586974408
book_growth_rate: 0.02595374887114
employee_sbc_expense_already_in_ni_oku: 1.9951758026906
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.2944521730941
repurchase_minus_sbc_addback_oku: 0.29927637040358
sustainable_distributable_to_parent_common_cash_oku: 951.06205567922
end_book_equity_oku: 14972.249535131
residual_profit_after_capital_charge_oku: 16.403495538466
present_value_owner_fcfe_oku: 219.76493050534

内容を開く

forward_year: 2054
years_after_exit: 18
start_book_equity_oku: 14972.249535131
sustainable_roe: 0.09
parent_ni_after_sbc_oku: 1347.5024581618
required_book_reinvestment_oku: 374.30623837828
book_growth_rate: 0.025
employee_sbc_expense_already_in_ni_oku: 2.0212536872427
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 2.3244417403291
repurchase_minus_sbc_addback_oku: 0.30318805308641
sustainable_distributable_to_parent_common_cash_oku: 972.89303173044
end_book_equity_oku: 15346.555773509
residual_profit_after_capital_charge_oku: -0.30318805308641
present_value_owner_fcfe_oku: 206.24723256271

scenario_verification

内容を開く

rows

period_days

内容を開く

1: 55
2: 365
3: 366
4: 365
5: 365
6: 365
7: 366
8: 365
9: 365
10: 365
11: 311

max_absolute_balance_rollforward_residual_oku

4.5E-13

event_receipts_equals_payout_difference_oku

oldcohort_terminal_fraction_check_oku

terminal_DCF_minus_RI_oku

-7.28E-12

site_irr_npv_reconciliation_oku

-1.455E-11

act_irr_npv_reconciliation_oku

中立（確率 40.0%）

電源・部品、インフラ、製造投資と競争環境をケース別に仮定し、旧株主の配当と残存価値を算出します。

このシナリオの数値・キャッシュフローを開く →

強気（確率 22.0%）

電源・部品、インフラ、製造投資と競争環境をケース別に仮定し、旧株主の配当と残存価値を算出します。

このシナリオの数値・キャッシュフローを開く →

大幅上振れ（確率 8.0%）

電源・部品、インフラ、製造投資と競争環境をケース別に仮定し、旧株主の配当と残存価値を算出します。

このシナリオの数値・キャッシュフローを開く →

事業の詳細

company: 製造設備向け電源変換・工業制御・データセンター用電源/冷却等。収益区分は4つのIFRS開示セグメント
9m2026_revenue_oku: 5396.67536
9m2026_revenue_yoy_growth: 0.37391277901976
9m2026_operating_margin: 0.16974798165365
9m2026_parent_ni_oku: 691.85826
data_center_cooling: 会社IR質疑では2026Q3冷却関連約250億TWD、同四半期売上約13%; 内部集計で監査セグメントではない。AI横断領域約50%はセグメント別売上と足さない。
source_company_qualitative: Q3 2026 management English translated transcript Oct29; liquid cooling suppliers power platform, ±400VDC high voltage DC early trials, SOFC pilot not assured.
quantity_price_mix_logic: segment growth=(1+physical_volume_growth)*(1+price_mix_growth)-1; model annual per-segment table contains both; no assured 10-year 2026AI CAGR.
working_capital: Inventories 1,682.02oku at Sep2026 versus1,014.78oku Dec2025; dynamic inventory execution, AR and capex are material.
capex: 9m2026 paid for PPE 448.78oku and intangibles7.93oku (not synonymous with IFRS D&A); future funded in each scenario.
major_customer_concentration: 未確認
major_customer_concentration_unconfirmed: No independently audited customer revenue percentage was established; do not invent explicit Nvidia/Meta share.
mna: 2026 9m includes acquisitions Noda RF 90.23pct stake, Delta Controls Germany 100pct; modeling no standalone speculative acquisition gain.
financing: DET Thailand subsidiary exchangeable bonds and options are on subsidiary equity/NCI, not 2308 newly issued parent common stock.

競争力の詳細

strengths

1: 高効率電力変換IP・顧客認証・グローバル製造立地
2: AIラックのkW上昇と配電・液冷のクロスセル
3: 2026年前9か月親会社利益692億TWD、現金2090億TWD

risks

内容を開く

1: NCI662億TWDとDET交換社債: 連結利益/キャッシュを母公司普通株に100%帰属させない
2: 9M2026棚卸資産1682億TWD、前年末から+667億TWD、供給停滞/評価損リスク
3: 設備投資の負担増、電力網/建設日程で検収遅延
4: 競合が液冷と電源に参入し17%前後の営業利益率を圧迫
5: 2026Q3レビューの限定結論: 一部子会社/持分法投資のレビュー未実施、監査意見と混同しない
6: 台湾ドル/米ドル・タイバーツ為替、米中輸出管理/関税
7: 2036 terminal ROE fadeや9%kという大きな主観パラメータ

business_moat

顧客承認・高出力電源設計・液冷統合のスイッチングコストは強みだが永久の独占利潤を認めず、競争でROEは18年かけてCoCへ収斂。

reported_IFRS_review_outcome

qualified_review_due_to_certain_unreviewed_nonsignificant_subsidiaries_and_associates

no_audit_misrepresentation

はい

業界の詳細

data_center_power

1: AIアクセラレータのTDP増加→rack kW増大
2: 配電/高圧直流とAC-DC/DC-DCの効率改善
3: 顧客の内製化・原材料調達

cooling

1: 空冷から液冷への移行は設置サイト制約に左右
2: CDU/冷媒・保守標準化と信頼性保証
3: 電力網・施工人員の希少性

automation

1: 製造業景気・設備投資の循環
2: 長期保守サービス、製品差別化
3: ABB/Siemens/Omron/三菱など競合

mobility

1: EV車種ミックスと充電設備投資
2: 2026年9Mセグメント営業赤字約12.67億TWD

pricing_model

具体的な契約単価は非開示; annual price/mix growth is assumed, not reported unit ASP.

industry_demand_guarantees

none

財務・資本配分の詳細

reported_2026_Q3_IFRS

内容を開く

日付: 2026-09-30
種類: reported_IFRS_reviewed_2026Q3
sales_9m_oku: 5396.67536
operating_profit_9m_oku: 916.07475
pretax_profit_9m_oku: 997.5893
income_tax_9m_oku: 226.9709
profit_total_9m_oku: 770.6184
parent_profit_9m_oku: 691.85826
nci_profit_9m_oku: 78.76014
assets_oku: 8356.60191
total_liabilities_including_operating_oku: 4512.30114
親会社持分（億）: 3181.97309
非支配持分資本（億）: 662.32768
cash_and_equivalents_oku: 2090.2269
short_borrowings_oku: 127.79441
current_maturities_long_debt_bonds_and_loans_oku: 264.61754
noncurrent_bonds_oku: 487.97334
noncurrent_long_borrowings_oku: 225.87185
lease_noncurrent_oku: 33.69703
paid_ppe_capex_9m_oku: 448.77977
paid_intangibles_9m_oku: 7.92646
nci_dividends_paid_9m_oku: 27.25886
issued_shares_report_2026Q3_thousands: 2597543
issued_shares_legal_register_exact: 2597543329
treasury_shares_2026Q3_proxy: 0
ordinary_shares_2026Q3_proxy: 2597543329
shares_diluted_2026_9m_employee_remuneration_potential_thousands: 4323
subsidiary_option_outstanding_shares_9m: 5096000
subsidiary_equity_settled_sbc_expense_9m_oku: 0.07926
employee_remuneration_accrued_9m_oku: 74.53931
2026_dividend_per_share_paid_twd: 11.6
2026_dividend_ex_date: 2026-06-17
2026_dividend_payment_date: 2026-07-22
2026_dividend_total_disclosed_oku: 301.315026164
interest_bearing_borrowings_ex_lease_oku: 1106.25714
net_cash_ex_lease_oku: 983.96976
non_interest_liabilities_incl_lease_oku: 3406.044

prior_dividend_ex_and_paid_not_eligible_cashflow

per_share_twd: 11.6
ex_date: 2026-06-17
pay_date: 2026-07-22

ordinary_parent_treasury_shares_2026_09_30_proxy

mother_company_potential_diluted_EPS_employee_remuneration_shares_9m_thousands

4323

employee_remuneration_stock_awards_actual_outstanding_not_automatically_issued

はい

subsidiary_stock_options_actual_outstanding_not_parent_ordinary

5096000

financial_debt_definition

Short loan + current portion bonds&loans + noncurrent bonds + long-term loans, excludes lease obligations, excludes suppliers & other trade liabilities.

2026_11_06_proxy_balance

内容を開く

cash: 2166.6468924
debt: 1106.25714
parent_equity: 3293.8255683833
nci_equity: 675.07636139935
issuer_shares: 2597543329
old_shares: 2597543329
total_liabilities_other: 3406.044
other_noncash_assets: 6314.5561773826
company_assets: 8481.2030697826

nci_accounting

debt_and_cash

entity-wide IFRS group cash and financing borrowings are reported as such, not mistakenly deemed entirely freely remittable to listed parent.

subsidiary_exchangeable_bonds

2026 new offshore USD bonds may be exchangable into DELTA THAILAND subsidiary equity, not 2308 common; record in group bonds/debt/NCI. No automatic parent diluted share change.

parent_sbc_treatment

share_buyback_treatment

parent_equity_clean_surplus

opening + (parent IFRS NI after SBC) + parent SBC equity credit + cash new issuance + OCI - declared dividends - repurchase expense

nci_equity_clean_surplus

opening+NCI NI+subsidiary SBC equity credit - NCI dividends + NCI conversions. In scenarios all conversions 0 unless independently confirmed.

cash_identity

opening cash + GROUP NI + D&A + SBC noncash addback - delta operating WC - PP&E/intangible capex - parent&NCI dividend - issuer repurchase cash + new financial borrowing - debt cash repayment

total_company_asset_liability_plug

Other non-cash assets and operating liabilities after 2026Q3 are pro forma residuals only; no model-derived number is described as reported IFRS.

lease_liability_excluded_from_debt_proxies

Lease obligation tracked within other liabilities rather than interest-bearing bond/bank debt to avoid double subtraction; scenario debt excludes leases.

cash_and_equivalents_not_all_available_to_parent

Subsidiaries with NCI own some cash; valuation instead uses parent equity + parent earnings residual model.

no_unverified_postcutoff_dividend_asof

はい

評価根拠の詳細

forbid_terminal_market_PER_PBR_mean_reversion

はい

terminal_market_PE_PB_multiplier_applied

いいえ

source_exchange_PE_is_only_crosscheck

31.68

terminal_valuation

initial_price_value_oku

27404.08212095

no_terminal_plus_2037_dividend

2036-11-06 cum-right exit value includes future 2037 cashflows; seller does not also receive pre-ex-date 2037 dividend

initial_2026_dividend_removed

はい

sensitivity

k 8-10%, reinvestment fade and price of SBC neutralizing buyback stressed below in valuation sensitivities

discount_rate_sensitivity

内容を開く

id: stress
discount_k: 0.08
whole_company_terminal_oku: 4855.302026732
same_original_holder_terminal_oku: 4853.3903273232
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: stress
discount_k: 0.09
whole_company_terminal_oku: 4247.1248272838
same_original_holder_terminal_oku: 4245.452588157
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: stress
discount_k: 0.1
whole_company_terminal_oku: 3727.1285863972
same_original_holder_terminal_oku: 3725.661087676
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: bear
discount_k: 0.08
whole_company_terminal_oku: 10786.704662245
same_original_holder_terminal_oku: 10781.664135198
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: bear
discount_k: 0.09
whole_company_terminal_oku: 9698.4696777249
same_original_holder_terminal_oku: 9693.9376727932
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: bear
discount_k: 0.1
whole_company_terminal_oku: 8756.9946566323
same_original_holder_terminal_oku: 8752.9025942463
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: base
discount_k: 0.08
whole_company_terminal_oku: 21758.943145614
same_original_holder_terminal_oku: 21747.517671595
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: base
discount_k: 0.09
whole_company_terminal_oku: 19872.760069321
same_original_holder_terminal_oku: 19862.32501729
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: base
discount_k: 0.1
whole_company_terminal_oku: 18224.859337661
same_original_holder_terminal_oku: 18215.28958717
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: bull
discount_k: 0.08
whole_company_terminal_oku: 39108.520618324
same_original_holder_terminal_oku: 39084.831155283
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: bull
discount_k: 0.09
whole_company_terminal_oku: 36035.083717899
same_original_holder_terminal_oku: 36013.255948133
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: bull
discount_k: 0.1
whole_company_terminal_oku: 33330.723877615
same_original_holder_terminal_oku: 33310.534237634
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: superbull
discount_k: 0.08
whole_company_terminal_oku: 81210.956138283
same_original_holder_terminal_oku: 81151.858789713
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: superbull
discount_k: 0.09
whole_company_terminal_oku: 75188.446518314
same_original_holder_terminal_oku: 75133.731760065
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

内容を開く

id: superbull
discount_k: 0.1
whole_company_terminal_oku: 69865.116762899
same_original_holder_terminal_oku: 69814.275800613
valuation_sensitivity_changes_k_only: cashflow path and mature ROE held fixed for finite shock, not joint re-solving competitiveness
出典: analyst sensitivity

分析基準とデータ

日付

2026-11-06

価格・単価

1055

株数

2597543329

shares_unit

ordinary_parent_ex_treasury_proxy

currency

TWD

株価の出所

TWSE 2026-11-06 MI_INDEX individual security row 2308 (primary TWSE)

株数の出所

2026-09-30 IFRS issued/outstanding rounded thousands + Taiwan legal register 2597543329 shares; Nov06 unchanged is proxy

price_data_class

verified_TWSE_closing_price

shares_data_class

2026-09-30_verified_plus_2026-11-06_proxy

issued_shares_9m_exact_register

2597543329

treasury_shares_at_2026_09_30_proxy

treasury_shares_at_2026_11_06_proxy

treasury_shares_latest_date_after_2026_09_30

未確認

shares_verification_limitation

A 2026-11-06 independent MOPS instantaneous treasury register was not located; use 2026-09-30 issuance and zero-balance treasury inference. MOPS recheck gate required.

終価

27404.08212095

initial_old_shareholder_cohort_shares

2597543329

initial_old_shareholder_cohort_value_oku

27404.08212095

basis_old_cohort_scale

all economically outstanding 2308 common shares acquired at Nov06 close, then future issuer buybacks tendered proportionately

ex_date_2026_pre_asof

2026-06-17

paid_date_2026_pre_asof

2026-07-22

2026_pre_asof_dividend_in_future_cashflows

いいえ

asof_bridge_to_11_06

内容を開く

basis_balance_date

2026-09-30

days_2026_oct01_to_nov06_inclusive

assumption

37/92 x the common 2026Q4 analyst proxy; not publicly reported as of close

reported_2026_09_30

内容を開く

cash: 2090.2269
debt: 1106.25714
parent_equity: 3181.97309
nci_equity: 662.32768
issuer_shares: 2597543329
old_shares: 2597543329
total_liabilities_other: 3406.044

2026_q4_37_day_proxy

内容を開く

segment_sales

内容を開く

power_components: 494.67391304348
infrastructure: 293.58695652174
automation: 72.391304347826
mobility: 40.217391304348

other_sales

2.4130434782609

sales

903.28260869565

sbc_parent

sbc_sub

0.01608695652174

operating_profit_pre_sbc

152.81804347826

operating_profit

152.80195652174

nonoperating_net

10.054347826087

net_finance_income

pbt

162.85630434783

tax

38.271231521739

group_ni

124.58507282609

parent_ni

111.85247838326

nci_ni

12.732594442826

41.551

capex

74.069173913043

maintenance_capex

37.034586956522

growth_capex

37.034586956522

change_wc

15.662993469565

nci_dividend

parent_dividend

issuer_buyback_cash

capital_borrowing

debt_repayment

sbc_award_issuer_shares

issuer_buyback_shares

projected_buyback_price_twd

未確認

projected_award_price_twd

未確認

modeled_2026_11_06

内容を開く

cash: 2166.6468924
debt: 1106.25714
parent_equity: 3293.8255683833
nci_equity: 675.07636139935
issuer_shares: 2597543329
old_shares: 2597543329
total_liabilities_other: 3406.044
other_noncash_assets: 6314.5561773826
company_assets: 8481.2030697826

追加データ・検証記録

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分析に使用した資料

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