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。

このシナリオの数値・キャッシュフローを開く →

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。

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: 514.0883060694
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: 514.0883060694
ex_date: 2027-06-17
declaration_date_assumed: 2027-05-20
company_total_dividend_oku: 514.0883060694
eligible_outstanding_shares: 2597543329
dividend_per_share_twd: 19.791327456598
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: 114185
grant_expense_previously_included_in_ifrs_op_oku: 1.3269655669565
noncash_apic_equity_credit_oku: 1.3269655669565
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1162.1237203895
issuer_shares_after: 2597657514
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: 34.997023114236
confirmed: いいえ
company_issuer_repurchase_cash_oku: 34.998561542889
company_total_shares_retired: 2938150
old_holder_tendered_shares: 2938020.8480021
old_holder_shares_after: 2594605308.152
issuer_shares_after: 2594719364
old_holder_fraction_before: 0.99995604308906
old_holder_fraction_after: 0.99995604308906
assumed_tender_price_twd: 1191.1768133992
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: 618.30792817602
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: 618.28074926949
ex_date: 2028-06-17
declaration_date_assumed: 2028-05-20
company_total_dividend_oku: 618.30792817602
eligible_outstanding_shares: 2594719364
dividend_per_share_twd: 23.829472148496
old_holder_shares_on_ex_date: 2594605308.152
old_holder_fraction_on_ex_date: 0.99995604308906
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: 121061
grant_expense_previously_included_in_ifrs_op_oku: 1.5039742826728
noncash_apic_equity_credit_oku: 1.5039742826728
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1242.3279114536
issuer_shares_after: 2594840425
old_holder_shares_after: 2594605308.152
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: 39.489740415653
confirmed: いいえ
company_issuer_repurchase_cash_oku: 39.493318880272
company_total_shares_retired: 3101441
old_holder_tendered_shares: 3101159.9803946
old_holder_shares_after: 2591504148.1716
issuer_shares_after: 2591738984
old_holder_fraction_before: 0.99990939063314
old_holder_fraction_after: 0.99990939063314
assumed_tender_price_twd: 1273.3861092399
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: 697.71526702026
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: 697.65204748167
ex_date: 2029-06-17
declaration_date_assumed: 2029-05-20
company_total_dividend_oku: 697.71526702026
eligible_outstanding_shares: 2591738984
dividend_per_share_twd: 26.920738211972
old_holder_shares_on_ex_date: 2591504148.1716
old_holder_fraction_on_ex_date: 0.99990939063314
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: 127228
grant_expense_previously_included_in_ifrs_op_oku: 1.6757682697032
noncash_apic_equity_credit_oku: 1.6757682697032
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1317.1343450903
issuer_shares_after: 2591866212
old_holder_shares_after: 2591504148.1716
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: 43.78223535489
confirmed: いいえ
company_issuer_repurchase_cash_oku: 43.788352251812
company_total_shares_retired: 3243431
old_holder_tendered_shares: 3242977.9175687
old_holder_shares_after: 2588261170.254
issuer_shares_after: 2588622781
old_holder_fraction_before: 0.9998603076707
old_holder_fraction_after: 0.9998603076707
assumed_tender_price_twd: 1350.0627037175
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: 773.59426776057
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: 773.48620257537
ex_date: 2030-06-17
declaration_date_assumed: 2030-05-20
company_total_dividend_oku: 773.59426776057
eligible_outstanding_shares: 2588622781
dividend_per_share_twd: 29.884395418236
old_holder_shares_on_ex_date: 2588261170.254
old_holder_fraction_on_ex_date: 0.9998603076707
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: 132738
grant_expense_previously_included_in_ifrs_op_oku: 1.8417781186633
noncash_apic_equity_credit_oku: 1.8417781186633
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1387.525941174
issuer_shares_after: 2588755519
old_holder_shares_after: 2588261170.254
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: 47.883942251122
confirmed: いいえ
company_issuer_repurchase_cash_oku: 47.893087915043
company_total_shares_retired: 3367502
old_holder_tendered_shares: 3366858.9418284
old_holder_shares_after: 2584894311.3122
issuer_shares_after: 2585388017
old_holder_fraction_before: 0.99980904000307
old_holder_fraction_after: 0.99980904000307
assumed_tender_price_twd: 1422.2140897034
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: 846.11115383318
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: 845.94958044984
ex_date: 2031-06-17
declaration_date_assumed: 2031-05-20
company_total_dividend_oku: 846.11115383318
eligible_outstanding_shares: 2585388017
dividend_per_share_twd: 32.726660302811
old_holder_shares_on_ex_date: 2584894311.3122
old_holder_fraction_on_ex_date: 0.99980904000307
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: 137665
grant_expense_previously_included_in_ifrs_op_oku: 2.0022131976818
noncash_apic_equity_credit_oku: 2.0022131976818
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1454.4062672435
issuer_shares_after: 2585525682
old_holder_shares_after: 2584894311.3122
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: 51.816909220978
confirmed: いいえ
company_issuer_repurchase_cash_oku: 51.829565706572
company_total_shares_retired: 3476706
old_holder_tendered_shares: 3475857.0081398
old_holder_shares_after: 2581418454.3041
issuer_shares_after: 2582048976
old_holder_fraction_before: 0.99975580567921
old_holder_fraction_after: 0.99975580567921
assumed_tender_price_twd: 1490.7664239246
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: 915.65571814762
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: 915.43212022145
ex_date: 2032-06-17
declaration_date_assumed: 2032-05-20
company_total_dividend_oku: 915.65571814762
eligible_outstanding_shares: 2582048976
dividend_per_share_twd: 35.462368322932
old_holder_shares_on_ex_date: 2581418454.3041
old_holder_fraction_on_ex_date: 0.99975580567921
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: 142088
grant_expense_previously_included_in_ifrs_op_oku: 2.1577800480754
noncash_apic_equity_credit_oku: 2.1577800480754
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1518.6200524046
issuer_shares_after: 2582191064
old_holder_shares_after: 2581418454.3041
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: 55.612874395499
confirmed: いいえ
company_issuer_repurchase_cash_oku: 55.629519138201
company_total_shares_retired: 3573817
old_holder_tendered_shares: 3572747.6888618
old_holder_shares_after: 2577845706.6152
issuer_shares_after: 2578617247
old_holder_fraction_before: 0.99970079297899
old_holder_fraction_after: 0.99970079297899
assumed_tender_price_twd: 1556.5855537147
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: 982.78815150922
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: 982.49409439413
ex_date: 2033-06-17
declaration_date_assumed: 2033-05-20
company_total_dividend_oku: 982.78815150922
eligible_outstanding_shares: 2578617247
dividend_per_share_twd: 38.112990698895
old_holder_shares_on_ex_date: 2577845706.6152
old_holder_fraction_on_ex_date: 0.99970079297899
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: 146083
grant_expense_previously_included_in_ifrs_op_oku: 2.309460925475
noncash_apic_equity_credit_oku: 2.309460925475
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1580.9244227401
issuer_shares_after: 2578763330
old_holder_shares_after: 2577845706.6152
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: 59.307475302017
confirmed: いいえ
company_issuer_repurchase_cash_oku: 59.328586699837
company_total_shares_retired: 3661247
old_holder_tendered_shares: 3659944.1872038
old_holder_shares_after: 2574185762.428
issuer_shares_after: 2575102083
old_holder_fraction_before: 0.9996441614575
old_holder_fraction_after: 0.9996441614575
assumed_tender_price_twd: 1620.4475333087
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: 1048.1384317927
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: 1047.7654637408
ex_date: 2034-06-17
declaration_date_assumed: 2034-05-20
company_total_dividend_oku: 1048.1384317927
eligible_outstanding_shares: 2575102083
dividend_per_share_twd: 40.702791501438
old_holder_shares_on_ex_date: 2574185762.428
old_holder_fraction_on_ex_date: 0.9996441614575
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: 149719
grant_expense_previously_included_in_ifrs_op_oku: 2.458356384091
noncash_apic_equity_credit_oku: 2.458356384091
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1641.9791093159
issuer_shares_after: 2575251802
old_holder_shares_after: 2574185762.428
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: 62.936658398779
confirmed: いいえ
company_issuer_repurchase_cash_oku: 62.962722162071
company_total_shares_retired: 3741037
old_holder_tendered_shares: 3739488.3772676
old_holder_shares_after: 2570446274.0507
issuer_shares_after: 2571510765
old_holder_fraction_before: 0.99958604452925
old_holder_fraction_after: 0.99958604452925
assumed_tender_price_twd: 1683.0285870488
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: 1112.3414031604
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

内容を開く

種類: old_holder_dividend_cash
想定日: 2035-07-22
year: 8.7063655030801
金額: 1111.8809433513
ex_date: 2035-06-17
declaration_date_assumed: 2035-05-20
company_total_dividend_oku: 1112.3414031604
eligible_outstanding_shares: 2571510765
dividend_per_share_twd: 43.256338581201
old_holder_shares_on_ex_date: 2570446274.0507
old_holder_fraction_on_ex_date: 0.99958604452925
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: 153058
grant_expense_previously_included_in_ifrs_op_oku: 2.6055828397751
noncash_apic_equity_credit_oku: 2.6055828397751
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1702.3483236522
issuer_shares_after: 2571663823
old_holder_shares_after: 2570446274.0507
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: 66.534489140108
confirmed: いいえ
company_issuer_repurchase_cash_oku: 66.566004678153
company_total_shares_retired: 3814874
old_holder_tendered_shares: 3813067.8557487
old_holder_shares_after: 2566633206.195
issuer_shares_after: 2567848949
old_holder_fraction_before: 0.99952655205615
old_holder_fraction_after: 0.99952655205615
assumed_tender_price_twd: 1744.9070317435
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: 1175.9993853483
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: 1175.4426108573
ex_date: 2036-06-17
declaration_date_assumed: 2036-05-20
company_total_dividend_oku: 1175.9993853483
eligible_outstanding_shares: 2567848949
dividend_per_share_twd: 45.797062393654
old_holder_shares_on_ex_date: 2566633206.195
old_holder_fraction_on_ex_date: 0.99952655205615
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: 132687
grant_expense_previously_included_in_ifrs_op_oku: 2.3386282396729
noncash_apic_equity_credit_oku: 2.3386282396729
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1762.5089133092
issuer_shares_after: 2567981636
old_holder_shares_after: 2566633206.195
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: 59.593720996275
confirmed: いいえ
company_issuer_repurchase_cash_oku: 59.625029696478
company_total_shares_retired: 3300452
old_holder_tendered_shares: 3298718.9549562
old_holder_shares_after: 2563334487.24
issuer_shares_after: 2564681184
old_holder_fraction_before: 0.99947490675708
old_holder_fraction_after: 0.99947490675708
assumed_tender_price_twd: 1806.5716361419
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

9204.4271870003

終価

19862.32501729

company_whole_parent_equity_terminal_oku

19872.760069321

company_issuer_common_mcap_proxy_terminal_oku

19872.760069321

issuer_2026_11_06_mcap_oku

27404.08212095

terminal_company_value_per_share_twd

774.86278580351

dividend_cash_to_cohort_oku

8682.4721184107

issuer_repurchase_tender_cash_to_cohort_oku

521.95506858956

old_holder_terminal_equity_fraction

0.99947490675708

old_holder_residual_shares

2563334487.24

company_shares_outstanding_at_exit

2564681184

現在価値（億）

14091.547331742

pv_act36525_terminal_oku

14090.557607637

net_pv_minus_initial_oku

-13312.534789208

irr

0.00680994516298

irr_site_exponent_10

0.00680994516298

irr_act36525_all_event_dates

0.00680921355925

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

1342.7173913043

segments_sales_oku

内容を開く

power_components: 735.32608695652
infrastructure: 436.41304347826
automation: 107.60869565217
mobility: 59.782608695652

operating_profit_pre_sbc_oku

227.16195652174

parent_share_sbc_expense_oku

subsidiary_share_sbc_expense_oku

0.02391304347826

ifrs_operating_profit_after_sbc_oku

227.13804347826

net_nonoperating_income_oku

14.945652173913

ifrs_profit_before_tax_oku

242.08369565217

income_tax_expense_oku

56.889668478261

consolidated_profit_oku

185.19402717391

parent_net_income_after_sbc_oku

166.26719759674

nci_profit_oku

18.926829577174

税率

23.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 223.70011208696
pnl_cash_bridge_oku: 185.19402717391
depreciation_and_amortization_addback_oku: 61.765
parent_non_cash_sbc_addback_oku: 0
subsidiary_non_cash_sbc_addback_oku: 0.02391304347826
working_capital_investment_oku: 23.282828130435
maintenance_capex_cash_oku: 55.051413043478
growth_capex_cash_oku: 55.051413043478
total_capex_cash_oku: 110.10282608696
company_fcf_pre_distributions_oku: 113.597286
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: 4.5E-13

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: 166.26719759674
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: 18.926829577174
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）: 3460.09276598
group_cash_oku: 2265.2415130767
group_interest_bearing_debt_ex_lease_oku: 1091.2544746767
group_net_cash_ex_lease_oku: 1173.9870384
非支配持分資本（億）: 694.02710402
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: 6386.1768316
total_assets_plug_proxy_oku: 8651.4183446767
assets_liabilities_equity_residual_oku: 4.5E-13

annual_run_rate

full_fiscal_year_sales_oku

7642.67536

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: 0.194

infrastructure

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: 0.184

automation

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: 0.048

mobility

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: -0.016

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）: 3460.09276598
group_cash_oku: 2265.2415130767
group_interest_bearing_debt_ex_lease_oku: 1091.2544746767
非支配持分資本（億）: 694.02710402
issuer_economic_shares: 2597543329
old_holder_cohort_shares: 2597543329
old_holder_fraction: 1

pnl

内容を開く

consolidated_sales_oku

8846.4371130432

segments_sales_oku

内容を開く

power_components: 4719.0877765174
infrastructure: 3061.492281265
automation: 684.77087773484
mobility: 366.658908876

operating_profit_pre_sbc_oku

1646.409175692

parent_share_sbc_expense_oku

1.3269655669565

subsidiary_share_sbc_expense_oku

0.12385011958261

ifrs_operating_profit_after_sbc_oku

1644.9583600055

net_nonoperating_income_oku

56.088457264846

ifrs_profit_before_tax_oku

1701.0468172703

income_tax_expense_oku

394.64286160671

consolidated_profit_oku

1306.4039556636

parent_net_income_after_sbc_oku

1166.6187324076

nci_profit_oku

139.785223256

税率

23.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1534.2266155936
pnl_cash_bridge_oku: 1306.4039556636
depreciation_and_amortization_addback_oku: 406.93610719999
parent_non_cash_sbc_addback_oku: 1.3269655669565
subsidiary_non_cash_sbc_addback_oku: 0.12385011958261
working_capital_investment_oku: 180.56426295649
maintenance_capex_cash_oku: 353.85748452173
growth_capex_cash_oku: 433.47541853912
total_capex_cash_oku: 787.33290306085
company_fcf_pre_distributions_oku: 746.89371253278
parent_declared_and_paid_dividends_oku: 514.0883060694
nci_cash_dividends_oku: 36.4384561266
issuer_buyback_cash_oku: 34.998561542889
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 98.212902720904
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 114185
company_parent_shares_bought_and_cancelled: 2938150
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1162.1237203895
buyback_execution_price_twd_proxy: 1191.1768133992
old_cohort_shares_tendered_proportionately: 2938020.848002
old_cohort_ownership_end: 0.99995604308906
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1166.6187324076
sbc_equity_paid_in_oku: 1.3269655669565
parent_dividends_oku: 514.0883060694
issuer_repurchase_deduction_oku: 34.998561542889
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 139.785223256
subsidiary_sbc_credit_to_nci_oku_proxy: 0.12385011958261
nci_dividends_oku: 36.4384561266
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）: 4078.9515963423
group_cash_oku: 2328.3969991497
group_interest_bearing_debt_ex_lease_oku: 993.04157195581
group_net_cash_ex_lease_oku: 1335.3554271939
非支配持分資本（億）: 797.49772126899
issuer_economic_shares: 2594719364
old_holder_cohort_shares: 2594605308.152
old_holder_fraction: 0.99995604308906
total_other_liabilities_and_leases_proxy_oku: 3773.2566102108
other_non_cash_assets_plug_proxy_oku: 7314.3505006281
total_assets_plug_proxy_oku: 9642.7474997778
assets_liabilities_equity_residual_oku: 4.5E-13

annual_run_rate

full_fiscal_year_sales_oku

8846.4371130432

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.135
price_growth: 0.012
annual_operating_margin_before_sbc: 0.207

infrastructure

volume_growth: 0.195
price_growth: 0.012
annual_operating_margin_before_sbc: 0.207

automation

volume_growth: 0.066
price_growth: 0.007
annual_operating_margin_before_sbc: 0.055

mobility

volume_growth: 0.04
price_growth: 0.005
annual_operating_margin_before_sbc: -0.005

noncapex_working_capital_ratio_on_incremental_revenue

0.15

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）: 4078.9515963423
group_cash_oku: 2328.3969991497
group_interest_bearing_debt_ex_lease_oku: 993.04157195581
非支配持分資本（億）: 797.49772126899
issuer_economic_shares: 2594719364
old_holder_cohort_shares: 2594605308.152
old_holder_fraction: 0.99995604308906

pnl

内容を開く

consolidated_sales_oku

10026.495217819

segments_sales_oku

内容を開く

power_components: 5309.7855260614
infrastructure: 3591.232699766
automation: 728.85891667032
mobility: 381.68585226838

operating_profit_pre_sbc_oku

1858.4533426889

parent_share_sbc_expense_oku

1.5039742826728

subsidiary_share_sbc_expense_oku

0.14037093304946

ifrs_operating_profit_after_sbc_oku

1856.8089974732

net_nonoperating_income_oku

65.568193003206

ifrs_profit_before_tax_oku

1922.3771904764

income_tax_expense_oku

445.99150819052

consolidated_profit_oku

1476.3856822859

parent_net_income_after_sbc_oku

1316.4439000382

nci_profit_oku

159.94178224764

税率

23.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1762.2400918049
pnl_cash_bridge_oku: 1476.3856822859
depreciation_and_amortization_addback_oku: 461.21878001967
parent_non_cash_sbc_addback_oku: 1.5039742826728
subsidiary_non_cash_sbc_addback_oku: 0.14037093304946
working_capital_investment_oku: 177.00871571635
maintenance_capex_cash_oku: 401.05980871276
growth_capex_cash_oku: 462.33283504387
total_capex_cash_oku: 863.39264375663
company_fcf_pre_distributions_oku: 898.84744804829
parent_declared_and_paid_dividends_oku: 618.30792817602
nci_cash_dividends_oku: 46.129123674481
issuer_buyback_cash_oku: 39.493318880272
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 89.373741476023
cash_end_reconciliation_residual_oku: 4.5E-13

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 121061
company_parent_shares_bought_and_cancelled: 3101441
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1242.3279114536
buyback_execution_price_twd_proxy: 1273.3861092399
old_cohort_shares_tendered_proportionately: 3101159.9803948
old_cohort_ownership_end: 0.99990939063314
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1316.4439000382
sbc_equity_paid_in_oku: 1.5039742826728
parent_dividends_oku: 618.30792817602
issuer_repurchase_deduction_oku: 39.493318880272
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 159.94178224764
subsidiary_sbc_credit_to_nci_oku_proxy: 0.14037093304946
nci_dividends_oku: 46.129123674481
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）: 4739.0982236069
group_cash_oku: 2433.9403349912
group_interest_bearing_debt_ex_lease_oku: 903.66783047979
group_net_cash_ex_lease_oku: 1530.2725045114
非支配持分資本（億）: 911.45075077519
issuer_economic_shares: 2591738984
old_holder_cohort_shares: 2591504148.1716
old_holder_fraction: 0.99990939063314
total_other_liabilities_and_leases_proxy_oku: 4118.9153918527
other_non_cash_assets_plug_proxy_oku: 8239.1918617233
total_assets_plug_proxy_oku: 10673.132196715
assets_liabilities_equity_residual_oku: -9.1E-13

annual_run_rate

full_fiscal_year_sales_oku

10026.495217819

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.11315
price_growth: 0.0108
annual_operating_margin_before_sbc: 0.20445

infrastructure

volume_growth: 0.1605
price_growth: 0.0108
annual_operating_margin_before_sbc: 0.2034

automation

volume_growth: 0.05772
price_growth: 0.0063
annual_operating_margin_before_sbc: 0.05845

mobility

volume_growth: 0.03632
price_growth: 0.0045
annual_operating_margin_before_sbc: -0.0005

noncapex_working_capital_ratio_on_incremental_revenue

0.15

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）: 4739.0982236069
group_cash_oku: 2433.9403349912
group_interest_bearing_debt_ex_lease_oku: 903.66783047979
非支配持分資本（億）: 911.45075077519
issuer_economic_shares: 2591738984
old_holder_cohort_shares: 2591504148.1716
old_holder_fraction: 0.99990939063314

pnl

内容を開く

consolidated_sales_oku

11171.788464688

segments_sales_oku

内容を開く

power_components: 5877.8358535534
infrastructure: 4111.8064730769
automation: 770.62655789965
mobility: 396.06472929822

operating_profit_pre_sbc_oku

2061.3625397778

parent_share_sbc_expense_oku

1.6757682697032

subsidiary_share_sbc_expense_oku

0.15640503850563

ifrs_operating_profit_after_sbc_oku

2059.5303664696

net_nonoperating_income_oku

75.104113189403

ifrs_profit_before_tax_oku

2134.634479659

income_tax_expense_oku

495.2351992809

consolidated_profit_oku

1639.3992803781

parent_net_income_after_sbc_oku

1459.6118259633

nci_profit_oku

179.7874544148

税率

23.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1983.3397360316
pnl_cash_bridge_oku: 1639.3992803781
depreciation_and_amortization_addback_oku: 513.90226937564
parent_non_cash_sbc_addback_oku: 1.6757682697032
subsidiary_non_cash_sbc_addback_oku: 0.15640503850563
working_capital_investment_oku: 171.79398703034
maintenance_capex_cash_oku: 446.87153858751
growth_capex_cash_oku: 482.8695236404
total_capex_cash_oku: 929.74106222791
company_fcf_pre_distributions_oku: 1053.5986738037
parent_declared_and_paid_dividends_oku: 697.71526702026
nci_cash_dividends_oku: 52.78078814172
issuer_buyback_cash_oku: 43.788352251812
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 81.330104743181
cash_end_reconciliation_residual_oku: -4.5E-13

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 127228
company_parent_shares_bought_and_cancelled: 3243431
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1317.1343450903
buyback_execution_price_twd_proxy: 1350.0627037175
old_cohort_shares_tendered_proportionately: 3242977.9175687
old_cohort_ownership_end: 0.9998603076707
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1459.6118259633
sbc_equity_paid_in_oku: 1.6757682697032
parent_dividends_oku: 697.71526702026
issuer_repurchase_deduction_oku: 43.788352251812
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 179.7874544148
subsidiary_sbc_credit_to_nci_oku_proxy: 0.15640503850563
nci_dividends_oku: 52.78078814172
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）: 5458.8821985678
group_cash_oku: 2611.924496638
group_interest_bearing_debt_ex_lease_oku: 822.3377257366
group_net_cash_ex_lease_oku: 1789.5867709014
非支配持分資本（億）: 1038.6138220868
issuer_economic_shares: 2588622781
old_holder_cohort_shares: 2588261170.254
old_holder_fraction: 0.9998603076707
total_other_liabilities_and_leases_proxy_oku: 4442.8776952207
other_non_cash_assets_plug_proxy_oku: 9150.7869449739
total_assets_plug_proxy_oku: 11762.711441612
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

11171.788464688

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.0963255
price_growth: 0.00972
annual_operating_margin_before_sbc: 0.2022825

infrastructure

volume_growth: 0.133935
price_growth: 0.00972
annual_operating_margin_before_sbc: 0.20034

automation

volume_growth: 0.0513444
price_growth: 0.00567
annual_operating_margin_before_sbc: 0.0613825

mobility

volume_growth: 0.0334864
price_growth: 0.00405
annual_operating_margin_before_sbc: 0.003325

noncapex_working_capital_ratio_on_incremental_revenue

0.15

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）: 5458.8821985678
group_cash_oku: 2611.924496638
group_interest_bearing_debt_ex_lease_oku: 822.3377257366
非支配持分資本（億）: 1038.6138220868
issuer_economic_shares: 2588622781
old_holder_cohort_shares: 2588261170.254
old_holder_fraction: 0.9998603076707

pnl

内容を開く

consolidated_sales_oku

12278.520791089

segments_sales_oku

内容を開く

power_components: 6423.5809295
infrastructure: 4618.4660323012
automation: 810.52586103543
mobility: 409.95219761238

operating_profit_pre_sbc_oku

2255.2626080467

parent_share_sbc_expense_oku

1.8417781186633

subsidiary_share_sbc_expense_oku

0.17189929107524

ifrs_operating_profit_after_sbc_oku

2253.248930637

net_nonoperating_income_oku

84.988290649653

ifrs_profit_before_tax_oku

2338.2372212866

income_tax_expense_oku

542.4710353385

consolidated_profit_oku

1795.7661859481

parent_net_income_after_sbc_oku

1596.4361393079

nci_profit_oku

199.33004664024

税率

23.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 2196.5819707878
pnl_cash_bridge_oku: 1795.7661859481
depreciation_and_amortization_addback_oku: 564.81195639008
parent_non_cash_sbc_addback_oku: 1.8417781186633
subsidiary_non_cash_sbc_addback_oku: 0.17189929107524
working_capital_investment_oku: 166.00984896012
maintenance_capex_cash_oku: 491.14083164355
growth_capex_cash_oku: 495.23367190724
total_capex_cash_oku: 986.37450355079
company_fcf_pre_distributions_oku: 1210.207467237
parent_declared_and_paid_dividends_oku: 773.59426776057
nci_cash_dividends_oku: 59.329859956885
issuer_buyback_cash_oku: 47.893087915043
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: 132738
company_parent_shares_bought_and_cancelled: 3367502
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1387.525941174
buyback_execution_price_twd_proxy: 1422.2140897034
old_cohort_shares_tendered_proportionately: 3366858.9418283
old_cohort_ownership_end: 0.99980904000307
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1596.4361393079
sbc_equity_paid_in_oku: 1.8417781186633
parent_dividends_oku: 773.59426776057
issuer_repurchase_deduction_oku: 47.893087915043
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 199.33004664024
subsidiary_sbc_credit_to_nci_oku_proxy: 0.17189929107524
nci_dividends_oku: 59.329859956885
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）: 6235.6727603188
group_cash_oku: 2867.3043529262
group_interest_bearing_debt_ex_lease_oku: 748.32733042031
group_net_cash_ex_lease_oku: 2118.9770225059
非支配持分資本（億）: 1178.7859080612
issuer_economic_shares: 2585388017
old_holder_cohort_shares: 2584894311.3122
old_holder_fraction: 0.99980904000307
total_other_liabilities_and_leases_proxy_oku: 4746.5788560218
other_non_cash_assets_plug_proxy_oku: 10042.060501896
total_assets_plug_proxy_oku: 12909.364854822
assets_liabilities_equity_residual_oku: -9.1E-13

annual_run_rate

full_fiscal_year_sales_oku

12278.520791089

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.083370635
price_growth: 0.008748
annual_operating_margin_before_sbc: 0.200440125

infrastructure

volume_growth: 0.11347995
price_growth: 0.008748
annual_operating_margin_before_sbc: 0.197739

automation

volume_growth: 0.046435188
price_growth: 0.005103
annual_operating_margin_before_sbc: 0.063875125

mobility

volume_growth: 0.031304528
price_growth: 0.003645
annual_operating_margin_before_sbc: 0.00657625

noncapex_working_capital_ratio_on_incremental_revenue

0.15

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）: 6235.6727603188
group_cash_oku: 2867.3043529262
group_interest_bearing_debt_ex_lease_oku: 748.32733042031
非支配持分資本（億）: 1178.7859080612
issuer_economic_shares: 2585388017
old_holder_cohort_shares: 2584894311.3122
old_holder_fraction: 0.99980904000307

pnl

内容を開く

consolidated_sales_oku

13348.087984546

segments_sales_oku

内容を開く

power_components: 6949.32819613
infrastructure: 5109.7424519555
automation: 848.98020424606
mobility: 423.48150960202

operating_profit_pre_sbc_oku

2441.1226381056

parent_share_sbc_expense_oku

2.0022131976818

subsidiary_share_sbc_expense_oku

0.18687323178364

ifrs_operating_profit_after_sbc_oku

2438.9335516761

net_nonoperating_income_oku

95.29167948897

ifrs_profit_before_tax_oku

2534.2252311651

income_tax_expense_oku

587.94025363031

consolidated_profit_oku

1946.2849775348

parent_net_income_after_sbc_oku

1727.6522983917

nci_profit_oku

218.63267914308

税率

23.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 2402.0510322348
pnl_cash_bridge_oku: 1946.2849775348
depreciation_and_amortization_addback_oku: 614.0120472891
parent_non_cash_sbc_addback_oku: 2.0022131976818
subsidiary_non_cash_sbc_addback_oku: 0.18687323178364
working_capital_investment_oku: 160.43507901855
maintenance_capex_cash_oku: 533.92351938183
growth_capex_cash_oku: 499.81173897688
total_capex_cash_oku: 1033.7352583587
company_fcf_pre_distributions_oku: 1368.3157738761
parent_declared_and_paid_dividends_oku: 846.11115383318
nci_cash_dividends_oku: 65.77891539128
issuer_buyback_cash_oku: 51.829565706572
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: 137665
company_parent_shares_bought_and_cancelled: 3476706
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1454.4062672435
buyback_execution_price_twd_proxy: 1490.7664239246
old_cohort_shares_tendered_proportionately: 3475857.0081396
old_cohort_ownership_end: 0.99975580567921
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1727.6522983917
sbc_equity_paid_in_oku: 2.0022131976818
parent_dividends_oku: 846.11115383318
issuer_repurchase_deduction_oku: 51.829565706572
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 218.63267914308
subsidiary_sbc_credit_to_nci_oku_proxy: 0.18687323178364
nci_dividends_oku: 65.77891539128
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）: 7067.3865523684
group_cash_oku: 3204.5510321335
group_interest_bearing_debt_ex_lease_oku: 680.97787068248
group_net_cash_ex_lease_oku: 2523.573161451
非支配持分資本（億）: 1331.8265450448
issuer_economic_shares: 2582048976
old_holder_cohort_shares: 2581418454.3041
old_holder_fraction: 0.99975580567921
total_other_liabilities_and_leases_proxy_oku: 5032.3612297256
other_non_cash_assets_plug_proxy_oku: 10908.001165688
total_assets_plug_proxy_oku: 14112.552197821
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

13348.087984546

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.07339538895
price_growth: 0.0078732
annual_operating_margin_before_sbc: 0.19887410625

infrastructure

volume_growth: 0.0977295615
price_growth: 0.0078732
annual_operating_margin_before_sbc: 0.19552815

automation

volume_growth: 0.04265509476
price_growth: 0.0045927
annual_operating_margin_before_sbc: 0.06599385625

mobility

volume_growth: 0.02962448656
price_growth: 0.0032805
annual_operating_margin_before_sbc: 0.0093398125

noncapex_working_capital_ratio_on_incremental_revenue

0.15

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）: 7067.3865523684
group_cash_oku: 3204.5510321335
group_interest_bearing_debt_ex_lease_oku: 680.97787068248
非支配持分資本（億）: 1331.8265450448
issuer_economic_shares: 2582048976
old_holder_cohort_shares: 2581418454.3041
old_holder_fraction: 0.99975580567921

pnl

内容を開く

consolidated_sales_oku

14385.200320503

segments_sales_oku

内容を開く

power_components: 7458.4774964192
infrastructure: 5586.4518177481
automation: 886.37110395716
mobility: 436.76483297479

operating_profit_pre_sbc_oku

2620.3769574339

parent_share_sbc_expense_oku

2.1577800480754

subsidiary_share_sbc_expense_oku

0.20139280448704

ifrs_operating_profit_after_sbc_oku

2618.0177845814

net_nonoperating_income_oku

106.09911057207

ifrs_profit_before_tax_oku

2724.1168951534

income_tax_expense_oku

631.9951196756

consolidated_profit_oku

2092.1217754778

parent_net_income_after_sbc_oku

1854.3172669985

nci_profit_oku

237.80450847932

税率

23.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 2600.63331268
pnl_cash_bridge_oku: 2092.1217754778
depreciation_and_amortization_addback_oku: 661.71921474313
parent_non_cash_sbc_addback_oku: 2.1577800480754
subsidiary_non_cash_sbc_addback_oku: 0.20139280448704
working_capital_investment_oku: 155.56685039358
maintenance_capex_cash_oku: 575.40801282011
growth_capex_cash_oku: 497.08858885293
total_capex_cash_oku: 1072.496601673
company_fcf_pre_distributions_oku: 1528.1367110069
parent_declared_and_paid_dividends_oku: 915.65571814762
nci_cash_dividends_oku: 72.148784117215
issuer_buyback_cash_oku: 55.629519138201
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 61.288008361423
cash_end_reconciliation_residual_oku: -9.1E-13

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 142088
company_parent_shares_bought_and_cancelled: 3573817
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1518.6200524046
buyback_execution_price_twd_proxy: 1556.5855537147
old_cohort_shares_tendered_proportionately: 3572747.6888618
old_cohort_ownership_end: 0.99970079297899
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1854.3172669985
sbc_equity_paid_in_oku: 2.1577800480754
parent_dividends_oku: 915.65571814762
issuer_repurchase_deduction_oku: 55.629519138201
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 237.80450847932
subsidiary_sbc_credit_to_nci_oku_proxy: 0.20139280448704
nci_dividends_oku: 72.148784117215
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）: 7952.5763621292
group_cash_oku: 3627.9657133759
group_interest_bearing_debt_ex_lease_oku: 619.68986232106
group_net_cash_ex_lease_oku: 3008.2758510549
非支配持分資本（億）: 1497.6836622114
issuer_economic_shares: 2578617247
old_holder_cohort_shares: 2577845706.6152
old_holder_fraction: 0.99970079297899
total_other_liabilities_and_leases_proxy_oku: 5302.9753106083
other_non_cash_assets_plug_proxy_oku: 11744.959483894
total_assets_plug_proxy_oku: 15372.92519727
assets_liabilities_equity_residual_oku: 1.82E-12

annual_run_rate

full_fiscal_year_sales_oku

14385.200320503

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.0657144494915
price_growth: 0.00708588
annual_operating_margin_before_sbc: 0.1975429903125

infrastructure

volume_growth: 0.085601762355
price_growth: 0.00708588
annual_operating_margin_before_sbc: 0.1936489275

automation

volume_growth: 0.0397444229652
price_growth: 0.00413343
annual_operating_margin_before_sbc: 0.0677947778125

mobility

volume_growth: 0.0283308546512
price_growth: 0.00295245
annual_operating_margin_before_sbc: 0.011688840625

noncapex_working_capital_ratio_on_incremental_revenue

0.15

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）: 7952.5763621292
group_cash_oku: 3627.9657133759
group_interest_bearing_debt_ex_lease_oku: 619.68986232106
非支配持分資本（億）: 1497.6836622114
issuer_economic_shares: 2578617247
old_holder_cohort_shares: 2577845706.6152
old_holder_fraction: 0.99970079297899

pnl

内容を開く

consolidated_sales_oku

15396.406169833

segments_sales_oku

内容を開く

power_components: 7954.9046665051
infrastructure: 6050.8368131409
automation: 923.03390163266
mobility: 449.8959917219

operating_profit_pre_sbc_oku

2794.6548124232

parent_share_sbc_expense_oku

2.309460925475

subsidiary_share_sbc_expense_oku

0.21554968637766

ifrs_operating_profit_after_sbc_oku

2792.1298018114

net_nonoperating_income_oku

117.50367663098

ifrs_profit_before_tax_oku

2909.6334784424

income_tax_expense_oku

675.03496699863

consolidated_profit_oku

2234.5985114437

parent_net_income_after_sbc_oku

1977.6196826277

nci_profit_oku

256.97882881603

税率

23.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 2793.6773284684
pnl_cash_bridge_oku: 2234.5985114437
depreciation_and_amortization_addback_oku: 708.23468381233
parent_non_cash_sbc_addback_oku: 2.309460925475
subsidiary_non_cash_sbc_addback_oku: 0.21554968637766
working_capital_investment_oku: 151.68087739955
maintenance_capex_cash_oku: 615.85624679333
growth_capex_cash_oku: 487.55286204472
total_capex_cash_oku: 1103.409108838
company_fcf_pre_distributions_oku: 1690.2682196303
parent_declared_and_paid_dividends_oku: 982.78815150922
nci_cash_dividends_oku: 78.475487798174
issuer_buyback_cash_oku: 59.328586699837
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 55.772087608895
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 146083
company_parent_shares_bought_and_cancelled: 3661247
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1580.9244227401
buyback_execution_price_twd_proxy: 1620.4475333087
old_cohort_shares_tendered_proportionately: 3659944.1872039
old_cohort_ownership_end: 0.9996441614575
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1977.6196826277
sbc_equity_paid_in_oku: 2.309460925475
parent_dividends_oku: 982.78815150922
issuer_repurchase_deduction_oku: 59.328586699837
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 256.97882881603
subsidiary_sbc_credit_to_nci_oku_proxy: 0.21554968637766
nci_dividends_oku: 78.475487798174
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）: 8890.3887674733
group_cash_oku: 4141.8696193901
group_interest_bearing_debt_ex_lease_oku: 563.91777471216
group_net_cash_ex_lease_oku: 3577.9518446779
非支配持分資本（億）: 1676.4025529156
issuer_economic_shares: 2575102083
old_holder_cohort_shares: 2574185762.428
old_holder_fraction: 0.9996441614575
total_other_liabilities_and_leases_proxy_oku: 5561.2448563349
other_non_cash_assets_plug_proxy_oku: 12550.084332046
total_assets_plug_proxy_oku: 16691.953951436
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

15396.406169833

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.05980012610846
price_growth: 0.006377292
annual_operating_margin_before_sbc: 0.19641154176563

infrastructure

volume_growth: 0.07626335701335
price_growth: 0.006377292
annual_operating_margin_before_sbc: 0.192051588375

automation

volume_growth: 0.0375032056832
price_growth: 0.003720087
annual_operating_margin_before_sbc: 0.06932556114063

mobility

volume_growth: 0.02733475808142
price_growth: 0.002657205
annual_operating_margin_before_sbc: 0.01368551453125

noncapex_working_capital_ratio_on_incremental_revenue

0.15

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）: 8890.3887674733
group_cash_oku: 4141.8696193901
group_interest_bearing_debt_ex_lease_oku: 563.91777471216
非支配持分資本（億）: 1676.4025529156
issuer_economic_shares: 2575102083
old_holder_cohort_shares: 2574185762.428
old_holder_fraction: 0.9996441614575

pnl

内容を開く

consolidated_sales_oku

16389.042560607

segments_sales_oku

内容を開く

power_components: 8442.5621854025
infrastructure: 6505.9129603354
automation: 959.25867395707
mobility: 462.95322619008

operating_profit_pre_sbc_oku

2965.6055354174

parent_share_sbc_expense_oku

2.458356384091

subsidiary_share_sbc_expense_oku

0.2294465958485

ifrs_operating_profit_after_sbc_oku

2962.9177324375

net_nonoperating_income_oku

129.60243161272

ifrs_profit_before_tax_oku

3092.5201640502

income_tax_expense_oku

717.46467805965

consolidated_profit_oku

2375.0554859906

parent_net_income_after_sbc_oku

2098.7573644537

nci_profit_oku

276.2981215369

税率

23.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 2982.7437881424
pnl_cash_bridge_oku: 2375.0554859906
depreciation_and_amortization_addback_oku: 753.89595778791
parent_non_cash_sbc_addback_oku: 2.458356384091
subsidiary_non_cash_sbc_addback_oku: 0.2294465958485
working_capital_investment_oku: 148.89545861605
maintenance_capex_cash_oku: 655.56170242427
growth_capex_cash_oku: 471.64022479969
total_capex_cash_oku: 1127.201927224
company_fcf_pre_distributions_oku: 1855.5418609184
parent_declared_and_paid_dividends_oku: 1048.1384317927
nci_cash_dividends_oku: 84.80301350929
issuer_buyback_cash_oku: 62.962722162071
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 50.752599724095
cash_end_reconciliation_residual_oku: -1.82E-12

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 149719
company_parent_shares_bought_and_cancelled: 3741037
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1641.9791093159
buyback_execution_price_twd_proxy: 1683.0285870488
old_cohort_shares_tendered_proportionately: 3739488.3772674
old_cohort_ownership_end: 0.99958604452925
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 2098.7573644537
sbc_equity_paid_in_oku: 2.458356384091
parent_dividends_oku: 1048.1384317927
issuer_repurchase_deduction_oku: 62.962722162071
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 276.2981215369
subsidiary_sbc_credit_to_nci_oku_proxy: 0.2294465958485
nci_dividends_oku: 84.80301350929
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）: 9880.5033343563
group_cash_oku: 4750.7547131204
group_interest_bearing_debt_ex_lease_oku: 513.16517498807
group_net_cash_ex_lease_oku: 4237.5895381323
非支配持分資本（億）: 1868.1271075391
issuer_economic_shares: 2571510765
old_holder_cohort_shares: 2570446274.0507
old_holder_fraction: 0.99958604452925
total_other_liabilities_and_leases_proxy_oku: 5809.8640954309
other_non_cash_assets_plug_proxy_oku: 13320.904999194
total_assets_plug_proxy_oku: 18071.659712314
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

16389.042560607

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.05524609710351
price_growth: 0.0057395628
annual_operating_margin_before_sbc: 0.19544981050078

infrastructure

volume_growth: 0.06907278490028
price_growth: 0.0057395628
annual_operating_margin_before_sbc: 0.19069385011875

automation

volume_growth: 0.03577746837607
price_growth: 0.0033480783
annual_operating_margin_before_sbc: 0.07062672696953

mobility

volume_growth: 0.0265677637227
price_growth: 0.0023914845
annual_operating_margin_before_sbc: 0.01538268735156

noncapex_working_capital_ratio_on_incremental_revenue

0.15

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）: 9880.5033343563
group_cash_oku: 4750.7547131204
group_interest_bearing_debt_ex_lease_oku: 513.16517498807
非支配持分資本（億）: 1868.1271075391
issuer_economic_shares: 2571510765
old_holder_cohort_shares: 2570446274.0507
old_holder_fraction: 0.99958604452925

pnl

内容を開く

consolidated_sales_oku

17370.552265167

segments_sales_oku

内容を開く

power_components: 8925.2434504478
infrastructure: 6955.0151762576
automation: 995.29392075983
mobility: 476.00175996485

operating_profit_pre_sbc_oku

3134.7970061693

parent_share_sbc_expense_oku

2.6055828397751

subsidiary_share_sbc_expense_oku

0.24318773171234

ifrs_operating_profit_after_sbc_oku

3131.9482355979

net_nonoperating_income_oku

142.49388757242

ifrs_profit_before_tax_oku

3274.4421231703

income_tax_expense_oku

759.67057257551

consolidated_profit_oku

2514.7715505948

parent_net_income_after_sbc_oku

2218.8667648081

nci_profit_oku

295.90478578665

税率

23.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 3169.4392696799
pnl_cash_bridge_oku: 2514.7715505948
depreciation_and_amortization_addback_oku: 799.04540419769
parent_non_cash_sbc_addback_oku: 2.6055828397751
subsidiary_non_cash_sbc_addback_oku: 0.24318773171234
working_capital_investment_oku: 147.22645568404
maintenance_capex_cash_oku: 694.82209060669
growth_capex_cash_oku: 449.70429753155
total_capex_cash_oku: 1144.5263881382
company_fcf_pre_distributions_oku: 2024.9128815417
parent_declared_and_paid_dividends_oku: 1112.3414031604
nci_cash_dividends_oku: 91.178380107177
issuer_buyback_cash_oku: 66.566004678153
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 46.184865748926
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 153058
company_parent_shares_bought_and_cancelled: 3814874
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1702.3483236522
buyback_execution_price_twd_proxy: 1744.9070317435
old_cohort_shares_tendered_proportionately: 3813067.8557487
old_cohort_ownership_end: 0.99952655205615
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 2218.8667648081
sbc_equity_paid_in_oku: 2.6055828397751
parent_dividends_oku: 1112.3414031604
issuer_repurchase_deduction_oku: 66.566004678153
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 295.90478578665
subsidiary_sbc_credit_to_nci_oku_proxy: 0.24318773171234
nci_dividends_oku: 91.178380107177
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）: 10923.068274166
group_cash_oku: 5459.3969409674
group_interest_bearing_debt_ex_lease_oku: 466.98030923914
group_net_cash_ex_lease_oku: 4992.4166317282
非支配持分資本（億）: 2073.0967009503
issuer_economic_shares: 2567848949
old_holder_cohort_shares: 2566633206.195
old_holder_fraction: 0.99952655205615
total_other_liabilities_and_leases_proxy_oku: 6051.2905199157
other_non_cash_assets_plug_proxy_oku: 14055.038863303
total_assets_plug_proxy_oku: 19514.435804271
assets_liabilities_equity_residual_oku: 1.82E-12

annual_run_rate

full_fiscal_year_sales_oku

17370.552265167

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.0517394947697
price_growth: 0.00516560652
annual_operating_margin_before_sbc: 0.19463233892566

infrastructure

volume_growth: 0.06353604437322
price_growth: 0.00516560652
annual_operating_margin_before_sbc: 0.18953977260094

automation

volume_growth: 0.03444865064957
price_growth: 0.00301327047
annual_operating_margin_before_sbc: 0.0717327179241

mobility

volume_growth: 0.02597717806648
price_growth: 0.00215233605
annual_operating_margin_before_sbc: 0.01682528424883

noncapex_working_capital_ratio_on_incremental_revenue

0.15

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）: 10923.068274166
group_cash_oku: 5459.3969409674
group_interest_bearing_debt_ex_lease_oku: 466.98030923914
非支配持分資本（億）: 2073.0967009503
issuer_economic_shares: 2567848949
old_holder_cohort_shares: 2566633206.195
old_holder_fraction: 0.99952655205615

pnl

内容を開く

consolidated_sales_oku

15590.854931152

segments_sales_oku

内容を開く

power_components: 7992.9216367725
infrastructure: 6289.2602113404
automation: 876.36696887622
mobility: 415.59803321739

operating_profit_pre_sbc_oku

2807.2127600906

parent_share_sbc_expense_oku

2.3386282396729

subsidiary_share_sbc_expense_oku

0.21827196903613

ifrs_operating_profit_after_sbc_oku

2804.6558598819

net_nonoperating_income_oku

132.79258509317

ifrs_profit_before_tax_oku

2937.4484449751

income_tax_expense_oku

681.48803923422

consolidated_profit_oku

2255.9604057409

parent_net_income_after_sbc_oku

1987.5011174577

nci_profit_oku

268.45928828316

税率

23.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 2851.1018990388
pnl_cash_bridge_oku: 2255.9604057409
depreciation_and_amortization_addback_oku: 717.17932683301
parent_non_cash_sbc_addback_oku: 2.3386282396729
subsidiary_non_cash_sbc_addback_oku: 0.21827196903613
working_capital_investment_oku: 124.59473374377
maintenance_capex_cash_oku: 623.6341972461
growth_capex_cash_oku: 358.58966341651
total_capex_cash_oku: 982.2238606626
company_fcf_pre_distributions_oku: 1868.8780383762
parent_declared_and_paid_dividends_oku: 1175.9993853483
nci_cash_dividends_oku: 97.648579309595
issuer_buyback_cash_oku: 59.625029696478
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 35.712510534436
cash_end_reconciliation_residual_oku: 9.1E-13

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 132687
company_parent_shares_bought_and_cancelled: 3300452
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1762.5089133092
buyback_execution_price_twd_proxy: 1806.5716361419
old_cohort_shares_tendered_proportionately: 3298718.9549561
old_cohort_ownership_end: 0.99947490675708
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1987.5011174577
sbc_equity_paid_in_oku: 2.3386282396729
parent_dividends_oku: 1175.9993853483
issuer_repurchase_deduction_oku: 59.625029696478
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 268.45928828316
subsidiary_sbc_credit_to_nci_oku_proxy: 0.21827196903613
nci_dividends_oku: 97.648579309595
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）: 11677.283604818
group_cash_oku: 5959.2894744547
group_interest_bearing_debt_ex_lease_oku: 431.26779870471
group_net_cash_ex_lease_oku: 5528.02167575
非支配持分資本（億）: 2244.1256818929
issuer_economic_shares: 2564681184
old_holder_cohort_shares: 2563334487.24
old_holder_fraction: 0.99947490675708
total_other_liabilities_and_leases_proxy_oku: 6287.7013292308
other_non_cash_assets_plug_proxy_oku: 14681.088940192
total_assets_plug_proxy_oku: 20640.378414647
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

18348.080079748

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.04903941097267
price_growth: 0.004649045868
annual_operating_margin_before_sbc: 0.19393748808681

infrastructure

volume_growth: 0.05927275416738
price_growth: 0.004649045868
annual_operating_margin_before_sbc: 0.1885588067108

automation

volume_growth: 0.03342546100017
price_growth: 0.002711943423
annual_operating_margin_before_sbc: 0.07267281023549

mobility

volume_growth: 0.02552242711119
price_growth: 0.001937102445
annual_operating_margin_before_sbc: 0.0180514916115

noncapex_working_capital_ratio_on_incremental_revenue

0.15

forecast_full_fiscal_year_runrates

内容を開く

2028

内容を開く

full_year_annual_sales_oku

8846.4371130432

full_year_annual_segment_sales_oku

内容を開く

power_components: 4719.0877765174
infrastructure: 3061.492281265
automation: 684.77087773484
mobility: 366.658908876

full_year_annual_parent_net_income_oku

1166.6187324076

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.135
price_growth: 0.012
annual_operating_margin_before_sbc: 0.207

infrastructure

volume_growth: 0.195
price_growth: 0.012
annual_operating_margin_before_sbc: 0.207

automation

volume_growth: 0.066
price_growth: 0.007
annual_operating_margin_before_sbc: 0.055

mobility

volume_growth: 0.04
price_growth: 0.005
annual_operating_margin_before_sbc: -0.005

2029

内容を開く

full_year_annual_sales_oku

10026.495217819

full_year_annual_segment_sales_oku

内容を開く

power_components: 5309.7855260614
infrastructure: 3591.232699766
automation: 728.85891667032
mobility: 381.68585226838

full_year_annual_parent_net_income_oku

1316.4439000382

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.11315
price_growth: 0.0108
annual_operating_margin_before_sbc: 0.20445

infrastructure

volume_growth: 0.1605
price_growth: 0.0108
annual_operating_margin_before_sbc: 0.2034

automation

volume_growth: 0.05772
price_growth: 0.0063
annual_operating_margin_before_sbc: 0.05845

mobility

volume_growth: 0.03632
price_growth: 0.0045
annual_operating_margin_before_sbc: -0.0005

2030

内容を開く

full_year_annual_sales_oku

11171.788464688

full_year_annual_segment_sales_oku

内容を開く

power_components: 5877.8358535534
infrastructure: 4111.8064730769
automation: 770.62655789965
mobility: 396.06472929822

full_year_annual_parent_net_income_oku

1459.6118259633

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.0963255
price_growth: 0.00972
annual_operating_margin_before_sbc: 0.2022825

infrastructure

volume_growth: 0.133935
price_growth: 0.00972
annual_operating_margin_before_sbc: 0.20034

automation

volume_growth: 0.0513444
price_growth: 0.00567
annual_operating_margin_before_sbc: 0.0613825

mobility

volume_growth: 0.0334864
price_growth: 0.00405
annual_operating_margin_before_sbc: 0.003325

2031

内容を開く

full_year_annual_sales_oku

12278.520791089

full_year_annual_segment_sales_oku

内容を開く

power_components: 6423.5809295
infrastructure: 4618.4660323012
automation: 810.52586103543
mobility: 409.95219761238

full_year_annual_parent_net_income_oku

1596.4361393079

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.083370635
price_growth: 0.008748
annual_operating_margin_before_sbc: 0.200440125

infrastructure

volume_growth: 0.11347995
price_growth: 0.008748
annual_operating_margin_before_sbc: 0.197739

automation

volume_growth: 0.046435188
price_growth: 0.005103
annual_operating_margin_before_sbc: 0.063875125

mobility

volume_growth: 0.031304528
price_growth: 0.003645
annual_operating_margin_before_sbc: 0.00657625

2032

内容を開く

full_year_annual_sales_oku

13348.087984546

full_year_annual_segment_sales_oku

内容を開く

power_components: 6949.32819613
infrastructure: 5109.7424519555
automation: 848.98020424606
mobility: 423.48150960202

full_year_annual_parent_net_income_oku

1727.6522983917

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.07339538895
price_growth: 0.0078732
annual_operating_margin_before_sbc: 0.19887410625

infrastructure

volume_growth: 0.0977295615
price_growth: 0.0078732
annual_operating_margin_before_sbc: 0.19552815

automation

volume_growth: 0.04265509476
price_growth: 0.0045927
annual_operating_margin_before_sbc: 0.06599385625

mobility

volume_growth: 0.02962448656
price_growth: 0.0032805
annual_operating_margin_before_sbc: 0.0093398125

2033

内容を開く

full_year_annual_sales_oku

14385.200320503

full_year_annual_segment_sales_oku

内容を開く

power_components: 7458.4774964192
infrastructure: 5586.4518177481
automation: 886.37110395716
mobility: 436.76483297479

full_year_annual_parent_net_income_oku

1854.3172669985

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.0657144494915
price_growth: 0.00708588
annual_operating_margin_before_sbc: 0.1975429903125

infrastructure

volume_growth: 0.085601762355
price_growth: 0.00708588
annual_operating_margin_before_sbc: 0.1936489275

automation

volume_growth: 0.0397444229652
price_growth: 0.00413343
annual_operating_margin_before_sbc: 0.0677947778125

mobility

volume_growth: 0.0283308546512
price_growth: 0.00295245
annual_operating_margin_before_sbc: 0.011688840625

2034

内容を開く

full_year_annual_sales_oku

15396.406169833

full_year_annual_segment_sales_oku

内容を開く

power_components: 7954.9046665051
infrastructure: 6050.8368131409
automation: 923.03390163266
mobility: 449.8959917219

full_year_annual_parent_net_income_oku

1977.6196826277

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.05980012610846
price_growth: 0.006377292
annual_operating_margin_before_sbc: 0.19641154176563

infrastructure

volume_growth: 0.07626335701335
price_growth: 0.006377292
annual_operating_margin_before_sbc: 0.192051588375

automation

volume_growth: 0.0375032056832
price_growth: 0.003720087
annual_operating_margin_before_sbc: 0.06932556114063

mobility

volume_growth: 0.02733475808142
price_growth: 0.002657205
annual_operating_margin_before_sbc: 0.01368551453125

2035

内容を開く

full_year_annual_sales_oku

16389.042560607

full_year_annual_segment_sales_oku

内容を開く

power_components: 8442.5621854025
infrastructure: 6505.9129603354
automation: 959.25867395707
mobility: 462.95322619008

full_year_annual_parent_net_income_oku

2098.7573644537

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.05524609710351
price_growth: 0.0057395628
annual_operating_margin_before_sbc: 0.19544981050078

infrastructure

volume_growth: 0.06907278490028
price_growth: 0.0057395628
annual_operating_margin_before_sbc: 0.19069385011875

automation

volume_growth: 0.03577746837607
price_growth: 0.0033480783
annual_operating_margin_before_sbc: 0.07062672696953

mobility

volume_growth: 0.0265677637227
price_growth: 0.0023914845
annual_operating_margin_before_sbc: 0.01538268735156

2036

内容を開く

full_year_annual_sales_oku

17370.552265167

full_year_annual_segment_sales_oku

内容を開く

power_components: 8925.2434504478
infrastructure: 6955.0151762576
automation: 995.29392075983
mobility: 476.00175996485

full_year_annual_parent_net_income_oku

2218.8667648081

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.0517394947697
price_growth: 0.00516560652
annual_operating_margin_before_sbc: 0.19463233892566

infrastructure

volume_growth: 0.06353604437322
price_growth: 0.00516560652
annual_operating_margin_before_sbc: 0.18953977260094

automation

volume_growth: 0.03444865064957
price_growth: 0.00301327047
annual_operating_margin_before_sbc: 0.0717327179241

mobility

volume_growth: 0.02597717806648
price_growth: 0.00215233605
annual_operating_margin_before_sbc: 0.01682528424883

2037

内容を開く

full_year_annual_sales_oku

18348.080079748

full_year_annual_segment_sales_oku

内容を開く

power_components: 9406.4608329863
infrastructure: 7401.5088017704
automation: 1031.3514810569
mobility: 489.09607767705

full_year_annual_parent_net_income_oku

2338.9884533425

period_realized_fraction

0.84972677595628

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.04903941097267
price_growth: 0.004649045868
annual_operating_margin_before_sbc: 0.19393748808681

infrastructure

volume_growth: 0.05927275416738
price_growth: 0.004649045868
annual_operating_margin_before_sbc: 0.1885588067108

automation

volume_growth: 0.03342546100017
price_growth: 0.002711943423
annual_operating_margin_before_sbc: 0.07267281023549

mobility

volume_growth: 0.02552242711119
price_growth: 0.001937102445
annual_operating_margin_before_sbc: 0.0180514916115

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: 166.26719759674
2026_full_FY_parent_income_actual_plus_proxy_plus_forecast_oku: 969.97793598
2026_FY_revenue_actual_plus_proxy_plus_forecast_oku: 7642.67536
first_partial_55_92_of_Q4: 0.59782608695652
last_partial_311_366_of_FY2036: 0.84972677595628

scenario_drivers

内容を開く

prob

40.00%

q4_sales_mult

q4_margin_shift

tax

0.232

nci_low

0.107

nci_up

0.119

nonop

0.006

growth

内容を開く

power_components

1: 0.135
2: 0.04

infrastructure

1: 0.195
2: 0.045

automation

1: 0.066
2: 0.03

mobility

1: 0.04
2: 0.024

prices

内容を開く

power_components: 0.012
infrastructure: 0.012
automation: 0.007
mobility: 0.005

margin_begin

内容を開く

power_components: 0.207
infrastructure: 0.207
automation: 0.055
mobility: -0.005

margin_end

内容を開く

power_components: 0.19
infrastructure: 0.183
automation: 0.078
mobility: 0.025

capex_begin

0.089

capex_end

0.063

0.15

payout

0.53

buyback

0.03

nci_div

0.33

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

11677.283604818

2036_full_fiscal_year_parent_profit_proxy_oku

2338.9884533425

2037_full_fiscal_year_parent_profit_proxy_oku

2383.429233956

next12mo_2036_Nov07_to_Dec31_days

next12mo_2037_Jan01_to_Nov06_days

310

next12mo_NI_from_2036_FY_and_2037_FY_proxy_oku

2375.7696989707

next12mo_roe

0.20345225648116

end_18_year_book_equity_oku

22621.25695657

book_equity_mature_value_after_year18_oku

22621.25695657

mature_year19_extra_sbc_buyback_over_grant_value_oku

0.45808045337053

mature_cash_FCFE_capital_growth_rate

0.025

perpetuity_extra_sbc_repurchase_cost_capitalized_at_year18_oku

7.0473915903159

mature_year18_continuation_value_oku

22614.209564979

finite_18_year_cash_FCFE_PV_oku

15078.689203098

tail_PV_oku

4794.0708662229

company_parent_equity_valuation_DCF_oku

19872.760069321

company_parent_equity_valuation_RI_crosscheck_oku

19872.760069321

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: 11677.283604818
sustainable_roe: 0.20345225648116
parent_ni_after_sbc_oku: 2375.7696989707
required_book_reinvestment_oku: 607.21874745055
book_growth_rate: 0.052
employee_sbc_expense_already_in_ni_oku: 3.5636545484561
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.0982027307245
repurchase_minus_sbc_addback_oku: 0.53454818226841
sustainable_distributable_to_parent_common_cash_oku: 1768.0164033379
end_book_equity_oku: 12284.502352269
residual_profit_after_capital_charge_oku: 1324.2796263548
present_value_owner_fcfe_oku: 1622.0333975577

内容を開く

forward_year: 2038
years_after_exit: 2
start_book_equity_oku: 12284.502352269
sustainable_roe: 0.19536389887998
parent_ni_after_sbc_oku: 2399.9482753395
required_book_reinvestment_oku: 615.89541800974
book_growth_rate: 0.05013596809609
employee_sbc_expense_already_in_ni_oku: 3.5999224130092
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.1399107749606
repurchase_minus_sbc_addback_oku: 0.53998836195139
sustainable_distributable_to_parent_common_cash_oku: 1783.5128689678
end_book_equity_oku: 12900.397770279
residual_profit_after_capital_charge_oku: 1293.8030752733
present_value_owner_fcfe_oku: 1501.1470995436

内容を開く

forward_year: 2039
years_after_exit: 3
start_book_equity_oku: 12900.397770279
sustainable_roe: 0.18738605873609
parent_ni_after_sbc_oku: 2417.3546943003
required_book_reinvestment_oku: 622.99634668145
book_growth_rate: 0.04829280133647
employee_sbc_expense_already_in_ni_oku: 3.6260320414505
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.169936847668
repurchase_minus_sbc_addback_oku: 0.54390480621757
sustainable_distributable_to_parent_common_cash_oku: 1793.8144428126
end_book_equity_oku: 13523.39411696
residual_profit_after_capital_charge_oku: 1255.774990169
present_value_owner_fcfe_oku: 1385.1538790349

内容を開く

forward_year: 2040
years_after_exit: 4
start_book_equity_oku: 13523.39411696
sustainable_roe: 0.17952444917038
parent_ni_after_sbc_oku: 2427.7798797612
required_book_reinvestment_oku: 628.4542374556
book_growth_rate: 0.04647163515463
employee_sbc_expense_already_in_ni_oku: 3.6416698196418
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.1879202925881
repurchase_minus_sbc_addback_oku: 0.54625047294627
sustainable_distributable_to_parent_common_cash_oku: 1798.7793918326
end_book_equity_oku: 14151.848354416
residual_profit_after_capital_charge_oku: 1210.1281587618
present_value_owner_fcfe_oku: 1274.3006703188

内容を開く

forward_year: 2041
years_after_exit: 5
start_book_equity_oku: 14151.848354416
sustainable_roe: 0.17178550578661
parent_ni_after_sbc_oku: 2431.0824273787
required_book_reinvestment_oku: 632.2161638049
book_growth_rate: 0.04467375200552
employee_sbc_expense_already_in_ni_oku: 3.646623641068
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.1936171872282
repurchase_minus_sbc_addback_oku: 0.5469935461602
sustainable_distributable_to_parent_common_cash_oku: 1798.3192700276
end_book_equity_oku: 14784.06451822
residual_profit_after_capital_charge_oku: 1156.8690819351
present_value_owner_fcfe_oku: 1168.7841361761

内容を開く

forward_year: 2042
years_after_exit: 6
start_book_equity_oku: 14784.06451822
sustainable_roe: 0.1641765404451
parent_ni_after_sbc_oku: 2427.1965663186
required_book_reinvestment_oku: 634.24543276493
book_growth_rate: 0.04290061315569
employee_sbc_expense_already_in_ni_oku: 3.6407948494779
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.1869140768996
repurchase_minus_sbc_addback_oku: 0.54611922742168
sustainable_distributable_to_parent_common_cash_oku: 1792.4050143262
end_book_equity_oku: 15418.309950985
residual_profit_after_capital_charge_oku: 1096.0846404513
present_value_owner_fcfe_oku: 1068.7525465772

内容を開く

forward_year: 2043
years_after_exit: 7
start_book_equity_oku: 15418.309950985
sustainable_roe: 0.15670594328981
parent_ni_after_sbc_oku: 2416.1408048038
required_book_reinvestment_oku: 634.52359469294
book_growth_rate: 0.04115390057082
employee_sbc_expense_already_in_ni_oku: 3.6242112072057
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.1678428882866
repurchase_minus_sbc_addback_oku: 0.54363168108086
sustainable_distributable_to_parent_common_cash_oku: 1781.0735784298
end_book_equity_oku: 16052.833545678
residual_profit_after_capital_charge_oku: 1027.9492775341
present_value_owner_fcfe_oku: 974.30823998673

内容を開く

forward_year: 2044
years_after_exit: 8
start_book_equity_oku: 16052.833545678
sustainable_roe: 0.14938345394111
parent_ni_after_sbc_oku: 2398.0277205951
required_book_reinvestment_oku: 633.05269430084
book_growth_rate: 0.03943557332103
employee_sbc_expense_already_in_ni_oku: 3.5970415808927
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.1365978180266
repurchase_minus_sbc_addback_oku: 0.5395562371339
sustainable_distributable_to_parent_common_cash_oku: 1764.4354700571
end_book_equity_oku: 16685.886239979
residual_profit_after_capital_charge_oku: 952.73314524692
present_value_owner_fcfe_oku: 885.51066508025

内容を開く

forward_year: 2045
years_after_exit: 9
start_book_equity_oku: 16685.886239979
sustainable_roe: 0.1422205348406
parent_ni_after_sbc_oku: 2373.0756653393
required_book_reinvestment_oku: 629.85792438662
book_growth_rate: 0.03774794549884
employee_sbc_expense_already_in_ni_oku: 3.5596134980089
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.0935555227102
repurchase_minus_sbc_addback_oku: 0.53394202470134
sustainable_distributable_to_parent_common_cash_oku: 1742.6837989279
end_book_equity_oku: 17315.744164366
residual_profit_after_capital_charge_oku: 870.81196171644
present_value_owner_fcfe_oku: 802.38003193943

内容を開く

forward_year: 2046
years_after_exit: 10
start_book_equity_oku: 17315.744164366
sustainable_roe: 0.13523090091334
parent_ni_after_sbc_oku: 2341.623683332
required_book_reinvestment_oku: 624.99095782955
book_growth_rate: 0.03609379717654
employee_sbc_expense_already_in_ni_oku: 3.512435524998
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.0393008537477
repurchase_minus_sbc_addback_oku: 0.52686532874971
sustainable_distributable_to_parent_common_cash_oku: 1716.1058601737
end_book_equity_oku: 17940.735122195
residual_profit_after_capital_charge_oku: 782.67984321035
present_value_owner_fcfe_oku: 724.90166111441

内容を開く

forward_year: 2047
years_after_exit: 11
start_book_equity_oku: 17940.735122195
sustainable_roe: 0.12843129888691
parent_ni_after_sbc_oku: 2304.1519147295
required_book_reinvestment_oku: 618.53444234421
book_growth_rate: 0.03447653834312
employee_sbc_expense_already_in_ni_oku: 3.4562278720943
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 3.9746620529084
repurchase_minus_sbc_addback_oku: 0.51843418081414
sustainable_distributable_to_parent_common_cash_oku: 1685.0990382045
end_book_equity_oku: 18559.26956454
residual_profit_after_capital_charge_oku: 688.96731955113
present_value_owner_fcfe_oku: 653.03123341937

内容を開く

forward_year: 2048
years_after_exit: 12
start_book_equity_oku: 18559.26956454
sustainable_roe: 0.12184270691034
parent_ni_after_sbc_oku: 2261.3116420223
required_book_reinvestment_oku: 610.60855111031
book_growth_rate: 0.03290046243398
employee_sbc_expense_already_in_ni_oku: 3.3919674630334
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 3.9007625824884
repurchase_minus_sbc_addback_oku: 0.50879511945501
sustainable_distributable_to_parent_common_cash_oku: 1650.1942957925
end_book_equity_oku: 19169.87811565
residual_profit_after_capital_charge_oku: 590.46858609426
present_value_owner_fcfe_oku: 586.70137532226

内容を開く

forward_year: 2049
years_after_exit: 13
start_book_equity_oku: 19169.87811565
sustainable_roe: 0.11549229052506
parent_ni_after_sbc_oku: 2213.9731326627
required_book_reinvestment_oku: 601.38135019594
book_growth_rate: 0.03137116191182
employee_sbc_expense_already_in_ni_oku: 3.3209596989941
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 3.8191036538432
repurchase_minus_sbc_addback_oku: 0.49814395484911
sustainable_distributable_to_parent_common_cash_oku: 1612.0936385119
end_book_equity_oku: 19771.259465846
residual_profit_after_capital_charge_oku: 488.18595829937
present_value_owner_fcfe_oku: 525.83052166031

内容を開く

forward_year: 2050
years_after_exit: 14
start_book_equity_oku: 19771.259465846
sustainable_roe: 0.10941684409157
parent_ni_after_sbc_oku: 2163.3088144683
required_book_reinvestment_oku: 591.08679268228
book_growth_rate: 0.02989626400399
employee_sbc_expense_already_in_ni_oku: 3.2449632217025
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 3.7317077049579
repurchase_minus_sbc_addback_oku: 0.48674448325538
sustainable_distributable_to_parent_common_cash_oku: 1571.7352773028
end_book_equity_oku: 20362.346258528
residual_profit_after_capital_charge_oku: 383.40871805896
present_value_owner_fcfe_oku: 470.33622569785

内容を開く

forward_year: 2051
years_after_exit: 15
start_book_equity_oku: 20362.346258528
sustainable_roe: 0.10366952377792
parent_ni_after_sbc_oku: 2110.9547396227
required_book_reinvestment_oku: 580.05973334817
book_growth_rate: 0.02848688093128
employee_sbc_expense_already_in_ni_oku: 3.1664321094341
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 3.6413969258492
repurchase_minus_sbc_addback_oku: 0.47496481641511
sustainable_distributable_to_parent_common_cash_oku: 1530.4200414581
end_book_equity_oku: 20942.405991876
residual_profit_after_capital_charge_oku: 277.86861153877
present_value_owner_fcfe_oku: 420.15852056825

内容を開く

forward_year: 2052
years_after_exit: 16
start_book_equity_oku: 20942.405991876
sustainable_roe: 0.09833531561086
parent_ni_after_sbc_oku: 2059.3781028619
required_book_reinvestment_oku: 568.81613319725
book_growth_rate: 0.02716097345348
employee_sbc_expense_already_in_ni_oku: 3.0890671542929
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 3.5524272274368
repurchase_minus_sbc_addback_oku: 0.46336007314393
sustainable_distributable_to_parent_common_cash_oku: 1490.0986095915
end_book_equity_oku: 21511.222125074
residual_profit_after_capital_charge_oku: 174.0982035199
present_value_owner_fcfe_oku: 375.31078315656

内容を開く

forward_year: 2053
years_after_exit: 17
start_book_equity_oku: 21511.222125074
sustainable_roe: 0.09357820694264
parent_ni_after_sbc_oku: 2012.9815956093
required_book_reinvestment_oku: 558.29685694554
book_growth_rate: 0.02595374887114
employee_sbc_expense_already_in_ni_oku: 3.0194723934139
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 3.472393252426
repurchase_minus_sbc_addback_oku: 0.45292085901208
sustainable_distributable_to_parent_common_cash_oku: 1454.2318178047
end_book_equity_oku: 22069.518982019
residual_profit_after_capital_charge_oku: 76.518683493639
present_value_owner_fcfe_oku: 336.03396589119

内容を開く

forward_year: 2054
years_after_exit: 18
start_book_equity_oku: 22069.518982019
sustainable_roe: 0.09
parent_ni_after_sbc_oku: 1986.2567083817
required_book_reinvestment_oku: 551.73797455048
book_growth_rate: 0.025
employee_sbc_expense_already_in_ni_oku: 2.9793850625726
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 3.4262928219585
repurchase_minus_sbc_addback_oku: 0.44690775938589
sustainable_distributable_to_parent_common_cash_oku: 1434.0718260719
end_book_equity_oku: 22621.25695657
residual_profit_after_capital_charge_oku: -0.44690775938589
present_value_owner_fcfe_oku: 304.01425005316

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

1.82E-12

event_receipts_equals_payout_difference_oku

oldcohort_terminal_fraction_check_oku

terminal_DCF_minus_RI_oku

-1.455E-11

site_irr_npv_reconciliation_oku

3.638E-11

act_irr_npv_reconciliation_oku

2.183E-11

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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