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。

このシナリオの数値・キャッシュフローを開く →

強気（確率 22.0%）

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

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: 546.14337953961
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: 546.14337953961
ex_date: 2027-06-17
declaration_date_assumed: 2027-05-20
company_total_dividend_oku: 546.14337953961
eligible_outstanding_shares: 2597543329
dividend_per_share_twd: 21.025380922129
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: 114303
grant_expense_previously_included_in_ifrs_op_oku: 1.4469889996007
noncash_apic_equity_credit_oku: 1.4469889996007
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1265.9281534679
issuer_shares_after: 2597657632
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: 64.47054017752
confirmed: いいえ
company_issuer_repurchase_cash_oku: 64.473377156627
company_total_shares_retired: 4968754
old_holder_tendered_shares: 4968535.3632245
old_holder_shares_after: 2592574793.6368
issuer_shares_after: 2592688878
old_holder_fraction_before: 0.99995599766552
old_holder_fraction_after: 0.99995599766552
assumed_tender_price_twd: 1297.5763573046
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: 788.00787270861
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: 787.97319852262
ex_date: 2028-06-17
declaration_date_assumed: 2028-05-20
company_total_dividend_oku: 788.00787270861
eligible_outstanding_shares: 2592688878
dividend_per_share_twd: 30.393460603591
old_holder_shares_on_ex_date: 2592574793.6368
old_holder_fraction_on_ex_date: 0.99995599766552
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: 125495
grant_expense_previously_included_in_ifrs_op_oku: 1.7552488109978
noncash_apic_equity_credit_oku: 1.7552488109978
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1398.6585927366
issuer_shares_after: 2592814373
old_holder_shares_after: 2592574793.6368
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: 78.033158179398
confirmed: いいえ
company_issuer_repurchase_cash_oku: 78.040369209295
company_total_shares_retired: 5443569
old_holder_tendered_shares: 5443066.0072643
old_holder_shares_after: 2587131727.6295
issuer_shares_after: 2587370804
old_holder_fraction_before: 0.99990759872141
old_holder_fraction_after: 0.99990759872141
assumed_tender_price_twd: 1433.625057555
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: 953.82667067824
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: 953.73853587432
ex_date: 2029-06-17
declaration_date_assumed: 2029-05-20
company_total_dividend_oku: 953.82667067824
eligible_outstanding_shares: 2587370804
dividend_per_share_twd: 36.864707184747
old_holder_shares_on_ex_date: 2587131727.6295
old_holder_fraction_on_ex_date: 0.99990759872141
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: 136147
grant_expense_previously_included_in_ifrs_op_oku: 2.0789047320699
noncash_apic_equity_credit_oku: 2.0789047320699
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1526.9572445038
issuer_shares_after: 2587506951
old_holder_shares_after: 2587131727.6295
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: 92.078447327916
confirmed: いいえ
company_issuer_repurchase_cash_oku: 92.091801879981
company_total_shares_retired: 5883967
old_holder_tendered_shares: 5883113.7455078
old_holder_shares_after: 2581248613.884
issuer_shares_after: 2581622984
old_holder_fraction_before: 0.99985498652657
old_holder_fraction_after: 0.99985498652657
assumed_tender_price_twd: 1565.1311756164
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: 1125.5664320107
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: 1125.4032097128
ex_date: 2030-06-17
declaration_date_assumed: 2030-05-20
company_total_dividend_oku: 1125.5664320107
eligible_outstanding_shares: 2581622984
dividend_per_share_twd: 43.599179236726
old_holder_shares_on_ex_date: 2581248613.884
old_holder_fraction_on_ex_date: 0.99985498652657
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: 146226
grant_expense_previously_included_in_ifrs_op_oku: 2.4151439624783
noncash_apic_equity_credit_oku: 2.4151439624783
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1651.6516304532
issuer_shares_after: 2581769210
old_holder_shares_after: 2581248613.884
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: 106.53056437855
confirmed: いいえ
company_issuer_repurchase_cash_oku: 106.55204987117
company_total_shares_retired: 6293895
old_holder_tendered_shares: 6292625.8790891
old_holder_shares_after: 2574955988.0049
issuer_shares_after: 2575475315
old_holder_fraction_before: 0.99979835683454
old_holder_fraction_after: 0.99979835683454
assumed_tender_price_twd: 1692.9429212145
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: 1302.302826988
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: 1302.0402265236
ex_date: 2031-06-17
declaration_date_assumed: 2031-05-20
company_total_dividend_oku: 1302.302826988
eligible_outstanding_shares: 2575475315
dividend_per_share_twd: 50.565533259168
old_holder_shares_on_ex_date: 2574955988.0049
old_holder_fraction_on_ex_date: 0.99979835683454
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: 155772
grant_expense_previously_included_in_ifrs_op_oku: 2.7626444458927
noncash_apic_equity_credit_oku: 2.7626444458927
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1773.5232627558
issuer_shares_after: 2575631087
old_holder_shares_after: 2574955988.0049
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: 121.34934991227
confirmed: いいえ
company_issuer_repurchase_cash_oku: 121.38116514506
company_total_shares_retired: 6677141
old_holder_tendered_shares: 6675390.8537147
old_holder_shares_after: 2568280597.1512
issuer_shares_after: 2568953946
old_holder_fraction_before: 0.99973788987154
old_holder_fraction_after: 0.99973788987154
assumed_tender_price_twd: 1817.8613443247
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: 1483.5475942412
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: 1483.1587413907
ex_date: 2032-06-17
declaration_date_assumed: 2032-05-20
company_total_dividend_oku: 1483.5475942412
eligible_outstanding_shares: 2568953946
dividend_per_share_twd: 57.749092643376
old_holder_shares_on_ex_date: 2568280597.1512
old_holder_fraction_on_ex_date: 0.99973788987154
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: 164840
grant_expense_previously_included_in_ifrs_op_oku: 3.1213469527119
noncash_apic_equity_credit_oku: 3.1213469527119
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1893.5603735027
issuer_shares_after: 2569118786
old_holder_shares_after: 2568280597.1512
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: 2032-10-15
year: 5.9411362080767
金額: 136.56223778051
confirmed: いいえ
company_issuer_repurchase_cash_oku: 136.60680648729
company_total_shares_retired: 7038325
old_holder_tendered_shares: 7036028.7085395
old_holder_shares_after: 2561244568.4427
issuer_shares_after: 2562080461
old_holder_fraction_before: 0.99967374461104
old_holder_fraction_after: 0.99967374461104
assumed_tender_price_twd: 1940.8993828403
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: 1669.6388188221
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: 1669.0940901599
ex_date: 2033-06-17
declaration_date_assumed: 2033-05-20
company_total_dividend_oku: 1669.6388188221
eligible_outstanding_shares: 2562080461
dividend_per_share_twd: 65.167306188754
old_holder_shares_on_ex_date: 2561244568.4427
old_holder_fraction_on_ex_date: 0.99967374461104
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: 2033-09-15
year: 6.8583162217659
金額: 0
confirmed: いいえ
issuer_new_shares: 173500
grant_expense_previously_included_in_ifrs_op_oku: 3.4921751306515
noncash_apic_equity_credit_oku: 3.4921751306515
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 2012.7762491045
issuer_shares_after: 2562253961
old_holder_shares_after: 2561244568.4427
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: 2033-10-15
year: 6.9404517453799
金額: 152.23852831894
confirmed: いいえ
company_issuer_repurchase_cash_oku: 152.29852588392
company_total_shares_retired: 7382039
old_holder_tendered_shares: 7379130.8670288
old_holder_shares_after: 2553865437.5756
issuer_shares_after: 2554871922
old_holder_fraction_before: 0.99960605288441
old_holder_fraction_after: 0.99960605288441
assumed_tender_price_twd: 2063.0956553321
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: 1861.4264092884
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: 1860.6931057236
ex_date: 2034-06-17
declaration_date_assumed: 2034-05-20
company_total_dividend_oku: 1861.4264092884
eligible_outstanding_shares: 2554871922
dividend_per_share_twd: 72.857914843388
old_holder_shares_on_ex_date: 2553865437.5756
old_holder_fraction_on_ex_date: 0.99960605288441
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: 2034-09-15
year: 7.8576317590691
金額: 0
confirmed: いいえ
issuer_new_shares: 181831
grant_expense_previously_included_in_ifrs_op_oku: 3.8767733999933
noncash_apic_equity_credit_oku: 3.8767733999933
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 2132.0706660106
issuer_shares_after: 2555053753
old_holder_shares_after: 2553865437.5756
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: 2034-10-15
year: 7.9397672826831
金額: 168.4626718297
confirmed: いいえ
company_issuer_repurchase_cash_oku: 168.54105763202
company_total_shares_retired: 7712235
old_holder_tendered_shares: 7708648.1604683
old_holder_shares_after: 2546156789.4152
issuer_shares_after: 2547341518
old_holder_fraction_before: 0.99953491568505
old_holder_fraction_after: 0.99953491568505
assumed_tender_price_twd: 2185.3724326609
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: 2059.9463912428
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

内容を開く

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: 2058.9883424866
ex_date: 2035-06-17
declaration_date_assumed: 2035-05-20
company_total_dividend_oku: 2059.9463912428
eligible_outstanding_shares: 2547341518
dividend_per_share_twd: 80.866518159692
old_holder_shares_on_ex_date: 2546156789.4152
old_holder_fraction_on_ex_date: 0.99953491568505
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: 189906
grant_expense_previously_included_in_ifrs_op_oku: 4.2772937859176
noncash_apic_equity_credit_oku: 4.2772937859176
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 2252.3205014466
issuer_shares_after: 2547531424
old_holder_shares_after: 2546156789.4152
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: 185.34294537107
confirmed: いいえ
company_issuer_repurchase_cash_oku: 185.4430094456
company_total_shares_retired: 8032605
old_holder_tendered_shares: 8028270.6485038
old_holder_shares_after: 2538128518.7667
issuer_shares_after: 2539498819
old_holder_fraction_before: 0.99946040524883
old_holder_fraction_after: 0.99946040524883
assumed_tender_price_twd: 2308.6285139828
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: 2266.5256810043
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: 2265.3026756434
ex_date: 2036-06-17
declaration_date_assumed: 2036-05-20
company_total_dividend_oku: 2266.5256810043
eligible_outstanding_shares: 2539498819
dividend_per_share_twd: 89.250905101692
old_holder_shares_on_ex_date: 2538128518.7667
old_holder_fraction_on_ex_date: 0.99946040524883
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: 168069
grant_expense_previously_included_in_ifrs_op_oku: 3.9905197028398
noncash_apic_equity_credit_oku: 3.9905197028398
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 2374.3345996718
issuer_shares_after: 2539666888
old_holder_shares_after: 2538128518.7667
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: 172.49660475302
confirmed: いいえ
company_issuer_repurchase_cash_oku: 172.60115559339
company_total_shares_retired: 7092150
old_holder_tendered_shares: 7087854.0250397
old_holder_shares_after: 2531040664.7416
issuer_shares_after: 2532574738
old_holder_fraction_before: 0.99939426338131
old_holder_fraction_after: 0.99939426338131
assumed_tender_price_twd: 2433.6929646636
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

15330.100553606

終価

36013.255948133

company_whole_parent_equity_terminal_oku

36035.083717899

company_issuer_common_mcap_proxy_terminal_oku

36035.083717899

issuer_2026_11_06_mcap_oku

27404.08212095

terminal_company_value_per_share_twd

1422.8635853154

dividend_cash_to_cohort_oku

14052.535505577

issuer_repurchase_tender_cash_to_cohort_oku

1277.5650480289

old_holder_terminal_equity_fraction

0.99939426338131

old_holder_residual_shares

2531040664.7416

company_shares_outstanding_at_exit

2532574738

現在価値（億）

24363.280109246

pv_act36525_terminal_oku

24361.485596898

net_pv_minus_initial_oku

-3040.8020117038

irr

0.07488281234709

irr_site_exponent_10

0.07488281234709

irr_act36525_all_event_dates

0.07487480605974

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

1423.2804347826

segments_sales_oku

内容を開く

power_components: 779.44565217391
infrastructure: 462.59782608696
automation: 114.0652173913
mobility: 63.369565217391

operating_profit_pre_sbc_oku

260.66436956522

parent_share_sbc_expense_oku

subsidiary_share_sbc_expense_oku

0.02391304347826

ifrs_operating_profit_after_sbc_oku

260.64045652174

net_nonoperating_income_oku

14.945652173913

ifrs_profit_before_tax_oku

275.58610869565

income_tax_expense_oku

64.762735543478

consolidated_profit_oku

210.82337315217

parent_net_income_after_sbc_oku

189.27722441602

nci_profit_oku

21.546148736152

税率

23.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 241.75653197826
pnl_cash_bridge_oku: 210.82337315217
depreciation_and_amortization_addback_oku: 65.4709
parent_non_cash_sbc_addback_oku: 0
subsidiary_non_cash_sbc_addback_oku: 0.02391304347826
working_capital_investment_oku: 34.561654217391
maintenance_capex_cash_oku: 58.354497826087
growth_capex_cash_oku: 58.354497826087
total_capex_cash_oku: 116.70899565217
company_fcf_pre_distributions_oku: 125.04753632609
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: 189.27722441602
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: 21.546148736152
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）: 3483.1027927993
group_cash_oku: 2276.6917634028
group_interest_bearing_debt_ex_lease_oku: 1091.2544746767
group_net_cash_ex_lease_oku: 1185.4372887261
非支配持分資本（億）: 696.64642317898
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: 6400.3559272522
total_assets_plug_proxy_oku: 8677.047690655
assets_liabilities_equity_residual_oku: 4.5E-13

annual_run_rate

full_fiscal_year_sales_oku

7723.2384034783

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: 0.208

infrastructure

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: 0.198

automation

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: 0.062

mobility

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: -0.002

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）: 3483.1027927993
group_cash_oku: 2276.6917634028
group_interest_bearing_debt_ex_lease_oku: 1091.2544746767
非支配持分資本（億）: 696.64642317898
issuer_economic_shares: 2597543329
old_holder_cohort_shares: 2597543329
old_holder_fraction: 1

pnl

内容を開く

consolidated_sales_oku

9646.5933306711

segments_sales_oku

内容を開く

power_components: 5178.5052362328
infrastructure: 3349.1228688658
automation: 720.5679870532
mobility: 383.7472198692

operating_profit_pre_sbc_oku

1997.7891972638

parent_share_sbc_expense_oku

1.4469889996007

subsidiary_share_sbc_expense_oku

0.13505230662939

ifrs_operating_profit_after_sbc_oku

1996.2071559576

net_nonoperating_income_oku

70.650490404545

ifrs_profit_before_tax_oku

2066.8576463621

income_tax_expense_oku

458.84239749239

consolidated_profit_oku

1608.0152488697

parent_net_income_after_sbc_oku

1432.7415867429

nci_profit_oku

175.2736621268

税率

22.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 1764.8373443079
pnl_cash_bridge_oku: 1608.0152488697
depreciation_and_amortization_addback_oku: 443.74329321087
parent_non_cash_sbc_addback_oku: 1.4469889996007
subsidiary_non_cash_sbc_addback_oku: 0.13505230662939
working_capital_investment_oku: 288.50323907892
maintenance_capex_cash_oku: 385.86373322684
growth_capex_cash_oku: 627.02856649362
total_capex_cash_oku: 1012.8922997205
company_fcf_pre_distributions_oku: 751.94504458744
parent_declared_and_paid_dividends_oku: 546.14337953961
nci_cash_dividends_oku: 39.563609112642
issuer_buyback_cash_oku: 64.473377156627
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: 114303
company_parent_shares_bought_and_cancelled: 4968754
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1265.9281534679
buyback_execution_price_twd_proxy: 1297.5763573046
old_cohort_shares_tendered_proportionately: 4968535.3632245
old_cohort_ownership_end: 0.99995599766552
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1432.7415867429
sbc_equity_paid_in_oku: 1.4469889996007
parent_dividends_oku: 546.14337953961
issuer_repurchase_deduction_oku: 64.473377156627
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 175.2736621268
subsidiary_sbc_credit_to_nci_oku_proxy: 0.13505230662939
nci_dividends_oku: 39.563609112642
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）: 4306.6746118456
group_cash_oku: 2280.2435394605
group_interest_bearing_debt_ex_lease_oku: 993.04157195581
group_net_cash_ex_lease_oku: 1287.2019675047
非支配持分資本（億）: 832.49152849977
issuer_economic_shares: 2592688878
old_holder_cohort_shares: 2592574793.6368
old_holder_fraction: 0.99995599766552
total_other_liabilities_and_leases_proxy_oku: 3979.719147561
other_non_cash_assets_plug_proxy_oku: 7831.6833204017
total_assets_plug_proxy_oku: 10111.926859862
assets_liabilities_equity_residual_oku: -9.1E-13

annual_run_rate

full_fiscal_year_sales_oku

9646.5933306711

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.225
price_growth: 0.018
annual_operating_margin_before_sbc: 0.226

infrastructure

volume_growth: 0.285
price_growth: 0.019
annual_operating_margin_before_sbc: 0.231

automation

volume_growth: 0.105
price_growth: 0.012
annual_operating_margin_before_sbc: 0.072

mobility

volume_growth: 0.07
price_growth: 0.012
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）: 4306.6746118456
group_cash_oku: 2280.2435394605
group_interest_bearing_debt_ex_lease_oku: 993.04157195581
非支配持分資本（億）: 832.49152849977
issuer_economic_shares: 2592688878
old_holder_cohort_shares: 2592574793.6368
old_holder_fraction: 0.99995599766552

pnl

内容を開く

consolidated_sales_oku

11701.658739985

segments_sales_oku

内容を開く

power_components: 6258.8318969975
infrastructure: 4220.5207658351
automation: 794.77565237715
mobility: 412.36765547293

operating_profit_pre_sbc_oku

2421.8635076361

parent_share_sbc_expense_oku

1.7552488109978

subsidiary_share_sbc_expense_oku

0.1638232223598

ifrs_operating_profit_after_sbc_oku

2419.9444356027

net_nonoperating_income_oku

86.839298279298

ifrs_profit_before_tax_oku

2506.783733882

income_tax_expense_oku

556.50598892181

consolidated_profit_oku

1950.2777449602

parent_net_income_after_sbc_oku

1734.2303103241

nci_profit_oku

216.04743463615

税率

22.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 2182.2133076358
pnl_cash_bridge_oku: 1950.2777449602
depreciation_and_amortization_addback_oku: 538.27630203933
parent_non_cash_sbc_addback_oku: 1.7552488109978
subsidiary_non_cash_sbc_addback_oku: 0.1638232223598
working_capital_investment_oku: 308.25981139716
maintenance_capex_cash_oku: 468.06634959942
growth_capex_cash_oku: 719.00192035688
total_capex_cash_oku: 1187.0682699563
company_fcf_pre_distributions_oku: 995.14503767946
parent_declared_and_paid_dividends_oku: 788.00787270861
nci_cash_dividends_oku: 61.34578174438
issuer_buyback_cash_oku: 78.040369209295
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 89.373741476023
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 125495
company_parent_shares_bought_and_cancelled: 5443569
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1398.6585927366
buyback_execution_price_twd_proxy: 1433.625057555
old_cohort_shares_tendered_proportionately: 5443066.0072641
old_cohort_ownership_end: 0.99990759872141
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1734.2303103241
sbc_equity_paid_in_oku: 1.7552488109978
parent_dividends_oku: 788.00787270861
issuer_repurchase_deduction_oku: 78.040369209295
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 216.04743463615
subsidiary_sbc_credit_to_nci_oku_proxy: 0.1638232223598
nci_dividends_oku: 61.34578174438
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）: 5176.6119290628
group_cash_oku: 2258.6208120016
group_interest_bearing_debt_ex_lease_oku: 903.66783047979
group_net_cash_ex_lease_oku: 1354.9529815218
非支配持分資本（億）: 987.35700461389
issuer_economic_shares: 2587370804
old_holder_cohort_shares: 2587131727.6295
old_holder_fraction: 0.99990759872141
total_other_liabilities_and_leases_proxy_oku: 4555.7915548187
other_non_cash_assets_plug_proxy_oku: 9364.8075069735
total_assets_plug_proxy_oku: 11623.428318975
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

11701.658739985

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.18935
price_growth: 0.0162
annual_operating_margin_before_sbc: 0.22315

infrastructure

volume_growth: 0.239
price_growth: 0.0171
annual_operating_margin_before_sbc: 0.2277

automation

volume_growth: 0.0912
price_growth: 0.0108
annual_operating_margin_before_sbc: 0.07545

mobility

volume_growth: 0.0631
price_growth: 0.0108
annual_operating_margin_before_sbc: 0.01025

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）: 5176.6119290628
group_cash_oku: 2258.6208120016
group_interest_bearing_debt_ex_lease_oku: 903.66783047979
非支配持分資本（億）: 987.35700461389
issuer_economic_shares: 2587370804
old_holder_cohort_shares: 2587131727.6295
old_holder_fraction: 0.99990759872141

pnl

内容を開く

consolidated_sales_oku

13859.364880466

segments_sales_oku

内容を開く

power_components: 7378.1613603473
infrastructure: 5157.9114955035
automation: 867.16157695609
mobility: 440.43698143089

operating_profit_pre_sbc_oku

2863.0018388424

parent_share_sbc_expense_oku

2.0789047320699

subsidiary_share_sbc_expense_oku

0.19403110832653

ifrs_operating_profit_after_sbc_oku

2860.728903002

net_nonoperating_income_oku

103.33574133464

ifrs_profit_before_tax_oku

2964.0646443366

income_tax_expense_oku

658.02235104273

consolidated_profit_oku

2306.0422932939

parent_net_income_after_sbc_oku

2046.4844218376

nci_profit_oku

259.5578714563

税率

22.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 2622.1900925636
pnl_cash_bridge_oku: 2306.0422932939
depreciation_and_amortization_addback_oku: 637.53078450144
parent_non_cash_sbc_addback_oku: 2.0789047320699
subsidiary_non_cash_sbc_addback_oku: 0.19403110832653
working_capital_investment_oku: 323.6559210721
maintenance_capex_cash_oku: 554.37459521865
growth_capex_cash_oku: 802.30323363587
total_capex_cash_oku: 1356.6778288545
company_fcf_pre_distributions_oku: 1265.5122637091
parent_declared_and_paid_dividends_oku: 953.82667067824
nci_cash_dividends_oku: 75.616602122652
issuer_buyback_cash_oku: 92.091801879981
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 81.330104743181
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 136147
company_parent_shares_bought_and_cancelled: 5883967
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1526.9572445038
buyback_execution_price_twd_proxy: 1565.1311756164
old_cohort_shares_tendered_proportionately: 5883113.7455077
old_cohort_ownership_end: 0.99985498652657
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 2046.4844218376
sbc_equity_paid_in_oku: 2.0789047320699
parent_dividends_oku: 953.82667067824
issuer_repurchase_deduction_oku: 92.091801879981
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 259.5578714563
subsidiary_sbc_credit_to_nci_oku_proxy: 0.19403110832653
nci_dividends_oku: 75.616602122652
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）: 6179.2567830742
group_cash_oku: 2321.2678962867
group_interest_bearing_debt_ex_lease_oku: 822.3377257366
group_net_cash_ex_lease_oku: 1498.9301705501
非支配持分資本（億）: 1171.4923050559
issuer_economic_shares: 2581622984
old_holder_cohort_shares: 2581248613.884
old_holder_fraction: 0.99985498652657
total_other_liabilities_and_leases_proxy_oku: 5128.7434507965
other_non_cash_assets_plug_proxy_oku: 10980.562368376
total_assets_plug_proxy_oku: 13301.830264663
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

13859.364880466

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.1618995
price_growth: 0.01458
annual_operating_margin_before_sbc: 0.2207275

infrastructure

volume_growth: 0.20358
price_growth: 0.01539
annual_operating_margin_before_sbc: 0.224895

automation

volume_growth: 0.080574
price_growth: 0.00972
annual_operating_margin_before_sbc: 0.0783825

mobility

volume_growth: 0.057787
price_growth: 0.00972
annual_operating_margin_before_sbc: 0.0147125

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）: 6179.2567830742
group_cash_oku: 2321.2678962867
group_interest_bearing_debt_ex_lease_oku: 822.3377257366
非支配持分資本（億）: 1171.4923050559
issuer_economic_shares: 2581622984
old_holder_cohort_shares: 2581248613.884
old_holder_fraction: 0.99985498652657

pnl

内容を開く

consolidated_sales_oku

16100.959749856

segments_sales_oku

内容を開く

power_components: 8527.1749868759
infrastructure: 6151.3233035431
automation: 938.07221042192
mobility: 468.14651146841

operating_profit_pre_sbc_oku

3317.8891105478

parent_share_sbc_expense_oku

2.4151439624783

subsidiary_share_sbc_expense_oku

0.22541343649798

ifrs_operating_profit_after_sbc_oku

3315.2485531489

net_nonoperating_income_oku

121.1173181486

ifrs_profit_before_tax_oku

3436.3658712975

income_tax_expense_oku

762.87322342804

consolidated_profit_oku

2673.4926478694

parent_net_income_after_sbc_oku

2367.8233217964

nci_profit_oku

305.66932607307

税率

22.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 3080.5381233533
pnl_cash_bridge_oku: 2673.4926478694
depreciation_and_amortization_addback_oku: 740.64414849336
parent_non_cash_sbc_addback_oku: 2.4151439624783
subsidiary_non_cash_sbc_addback_oku: 0.22541343649798
working_capital_investment_oku: 336.23923040843
maintenance_capex_cash_oku: 644.03838999423
growth_capex_cash_oku: 874.81881307549
total_capex_cash_oku: 1518.8572030697
company_fcf_pre_distributions_oku: 1561.6809202836
parent_declared_and_paid_dividends_oku: 1125.5664320107
nci_cash_dividends_oku: 90.845255009706
issuer_buyback_cash_oku: 106.55204987117
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 49.576101508925
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 146226
company_parent_shares_bought_and_cancelled: 6293895
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1651.6516304532
buyback_execution_price_twd_proxy: 1692.9429212145
old_cohort_shares_tendered_proportionately: 6292625.8790889
old_cohort_ownership_end: 0.99979835683454
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 2367.8233217964
sbc_equity_paid_in_oku: 2.4151439624783
parent_dividends_oku: 1125.5664320107
issuer_repurchase_deduction_oku: 106.55204987117
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 305.66932607307
subsidiary_sbc_credit_to_nci_oku_proxy: 0.22541343649798
nci_dividends_oku: 90.845255009706
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）: 7317.3767669512
group_cash_oku: 2510.4089781698
group_interest_bearing_debt_ex_lease_oku: 772.76162422768
group_net_cash_ex_lease_oku: 1737.6473539421
非支配持分資本（億）: 1386.5417895557
issuer_economic_shares: 2575475315
old_holder_cohort_shares: 2574955988.0049
old_holder_fraction: 0.99979835683454
total_other_liabilities_and_leases_proxy_oku: 5696.2216525031
other_non_cash_assets_plug_proxy_oku: 12662.492855068
total_assets_plug_proxy_oku: 15172.901833238
assets_liabilities_equity_residual_oku: 1.82E-12

annual_run_rate

full_fiscal_year_sales_oku

16100.959749856

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.140762615
price_growth: 0.013122
annual_operating_margin_before_sbc: 0.218668375

infrastructure

volume_growth: 0.1763066
price_growth: 0.013851
annual_operating_margin_before_sbc: 0.22251075

automation

volume_growth: 0.07239198
price_growth: 0.008748
annual_operating_margin_before_sbc: 0.080875125

mobility

volume_growth: 0.05369599
price_growth: 0.008748
annual_operating_margin_before_sbc: 0.018505625

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）: 7317.3767669512
group_cash_oku: 2510.4089781698
group_interest_bearing_debt_ex_lease_oku: 772.76162422768
非支配持分資本（億）: 1386.5417895557
issuer_economic_shares: 2575475315
old_holder_cohort_shares: 2574955988.0049
old_holder_fraction: 0.99979835683454

pnl

内容を開く

consolidated_sales_oku

18417.629639284

segments_sales_oku

内容を開く

power_components: 9701.9398607352
infrastructure: 7195.2521530955
automation: 1007.9448743133
mobility: 495.68151778006

operating_profit_pre_sbc_oku

3785.3897908443

parent_share_sbc_expense_oku

2.7626444458927

subsidiary_share_sbc_expense_oku

0.25784681494998

ifrs_operating_profit_after_sbc_oku

3782.3692995835

net_nonoperating_income_oku

140.11778802059

ifrs_profit_before_tax_oku

3922.4870876041

income_tax_expense_oku

870.7921334481

consolidated_profit_oku

3051.694954156

parent_net_income_after_sbc_oku

2697.3592622567

nci_profit_oku

354.33569189922

税率

22.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 3554.4259254096
pnl_cash_bridge_oku: 3051.694954156
depreciation_and_amortization_addback_oku: 847.21096340709
parent_non_cash_sbc_addback_oku: 2.7626444458927
subsidiary_non_cash_sbc_addback_oku: 0.25784681494998
working_capital_investment_oku: 347.50048341432
maintenance_capex_cash_oku: 736.70518557138
growth_capex_cash_oku: 935.206305017
total_capex_cash_oku: 1671.9114905884
company_fcf_pre_distributions_oku: 1882.5144348212
parent_declared_and_paid_dividends_oku: 1302.302826988
nci_cash_dividends_oku: 106.98426412557
issuer_buyback_cash_oku: 121.38116514506
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 42.173748987943
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 155772
company_parent_shares_bought_and_cancelled: 6677141
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1773.5232627558
buyback_execution_price_twd_proxy: 1817.8613443247
old_cohort_shares_tendered_proportionately: 6675390.8537149
old_cohort_ownership_end: 0.99973788987154
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 2697.3592622567
sbc_equity_paid_in_oku: 2.7626444458927
parent_dividends_oku: 1302.302826988
issuer_repurchase_deduction_oku: 121.38116514506
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 354.33569189922
subsidiary_sbc_credit_to_nci_oku_proxy: 0.25784681494998
nci_dividends_oku: 106.98426412557
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）: 8593.8146815207
group_cash_oku: 2820.0814077444
group_interest_bearing_debt_ex_lease_oku: 730.58787523974
group_net_cash_ex_lease_oku: 2089.4935325047
非支配持分資本（億）: 1634.1510641443
issuer_economic_shares: 2568953946
old_holder_cohort_shares: 2568280597.1512
old_holder_fraction: 0.99973788987154
total_other_liabilities_and_leases_proxy_oku: 6258.2694836786
other_non_cash_assets_plug_proxy_oku: 14396.741696839
total_assets_plug_proxy_oku: 17216.823104583
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

18417.629639284

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.12448721355
price_growth: 0.0118098
annual_operating_margin_before_sbc: 0.21691811875

infrastructure

volume_growth: 0.155306082
price_growth: 0.0124659
annual_operating_margin_before_sbc: 0.2204841375

automation

volume_growth: 0.0660918246
price_growth: 0.0078732
annual_operating_margin_before_sbc: 0.08299385625

mobility

volume_growth: 0.0505459123
price_growth: 0.0078732
annual_operating_margin_before_sbc: 0.02172978125

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）: 8593.8146815207
group_cash_oku: 2820.0814077444
group_interest_bearing_debt_ex_lease_oku: 730.58787523974
非支配持分資本（億）: 1634.1510641443
issuer_economic_shares: 2568953946
old_holder_cohort_shares: 2568280597.1512
old_holder_fraction: 0.99973788987154

pnl

内容を開く

consolidated_sales_oku

20808.979684746

segments_sales_oku

内容を開く

power_components: 10902.787043409
infrastructure: 8288.3260755963
automation: 1077.251697304
mobility: 523.21524190913

operating_profit_pre_sbc_oku

4266.1071283626

parent_share_sbc_expense_oku

3.1213469527119

subsidiary_share_sbc_expense_oku

0.29132571558644

ifrs_operating_profit_after_sbc_oku

4262.6944556943

net_nonoperating_income_oku

160.71309011635

ifrs_profit_before_tax_oku

4423.4075458106

income_tax_expense_oku

981.99647516996

consolidated_profit_oku

3441.4110706407

parent_net_income_after_sbc_oku

3035.7069433129

nci_profit_oku

405.70412732775

税率

22.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 4043.334301988
pnl_cash_bridge_oku: 3441.4110706407
depreciation_and_amortization_addback_oku: 957.21306549832
parent_non_cash_sbc_addback_oku: 3.1213469527119
subsidiary_non_cash_sbc_addback_oku: 0.29132571558644
working_capital_investment_oku: 358.70250681924
maintenance_capex_cash_oku: 832.35918738984
growth_capex_cash_oku: 982.64626289079
total_capex_cash_oku: 1815.0054502806
company_fcf_pre_distributions_oku: 2228.3288517074
parent_declared_and_paid_dividends_oku: 1483.5475942412
nci_cash_dividends_oku: 124.01749216473
issuer_buyback_cash_oku: 136.60680648729
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 63.125988699494
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 164840
company_parent_shares_bought_and_cancelled: 7038325
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1893.5603735027
buyback_execution_price_twd_proxy: 1940.8993828403
old_cohort_shares_tendered_proportionately: 7036028.7085395
old_cohort_ownership_end: 0.99967374461104
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 3035.7069433129
sbc_equity_paid_in_oku: 3.1213469527119
parent_dividends_oku: 1483.5475942412
issuer_repurchase_deduction_oku: 136.60680648729
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 405.70412732775
subsidiary_sbc_credit_to_nci_oku_proxy: 0.29132571558644
nci_dividends_oku: 124.01749216473
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）: 10012.488571058
group_cash_oku: 3241.1123778591
group_interest_bearing_debt_ex_lease_oku: 667.46188654024
group_net_cash_ex_lease_oku: 2573.6504913189
非支配持分資本（億）: 1916.1290250229
issuer_economic_shares: 2562080461
old_holder_cohort_shares: 2561244568.4427
old_holder_fraction: 0.99967374461104
total_other_liabilities_and_leases_proxy_oku: 6816.574657625
other_non_cash_assets_plug_proxy_oku: 16171.541762387
total_assets_plug_proxy_oku: 19412.654140246
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

20808.979684746

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.1119551544335
price_growth: 0.01062882
annual_operating_margin_before_sbc: 0.2154304009375

infrastructure

volume_growth: 0.13913568314
price_growth: 0.01121931
annual_operating_margin_before_sbc: 0.218761516875

automation

volume_growth: 0.061240704942
price_growth: 0.00708588
annual_operating_margin_before_sbc: 0.0847947778125

mobility

volume_growth: 0.048120352471
price_growth: 0.00708588
annual_operating_margin_before_sbc: 0.0244703140625

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）: 10012.488571058
group_cash_oku: 3241.1123778591
group_interest_bearing_debt_ex_lease_oku: 667.46188654024
非支配持分資本（億）: 1916.1290250229
issuer_economic_shares: 2562080461
old_holder_cohort_shares: 2561244568.4427
old_holder_fraction: 0.99967374461104

pnl

内容を開く

consolidated_sales_oku

23281.167537677

segments_sales_oku

内容を開く

power_components: 12133.167157492
infrastructure: 9432.6209618369
automation: 1146.4644328274
mobility: 550.9063720636

operating_profit_pre_sbc_oku

4761.9262601035

parent_share_sbc_expense_oku

3.4921751306515

subsidiary_share_sbc_expense_oku

0.32593634552748

ifrs_operating_profit_after_sbc_oku

4758.1081486273

net_nonoperating_income_oku

183.3649825846

ifrs_profit_before_tax_oku

4941.4731312119

income_tax_expense_oku

1097.007035129

consolidated_profit_oku

3844.4660960829

parent_net_income_after_sbc_oku

3384.4116532516

nci_profit_oku

460.05444283125

税率

22.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 4548.3897363525
pnl_cash_bridge_oku: 3844.4660960829
depreciation_and_amortization_addback_oku: 1070.9337067331
parent_non_cash_sbc_addback_oku: 3.4921751306515
subsidiary_non_cash_sbc_addback_oku: 0.32593634552748
working_capital_investment_oku: 370.82817793962
maintenance_capex_cash_oku: 931.24670150707
growth_capex_cash_oku: 1016.6109824786
total_capex_cash_oku: 1947.8576839856
company_fcf_pre_distributions_oku: 2600.5320523669
parent_declared_and_paid_dividends_oku: 1669.6388188221
nci_cash_dividends_oku: 141.99644456471
issuer_buyback_cash_oku: 152.29852588392
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 60.071569788622
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 173500
company_parent_shares_bought_and_cancelled: 7382039
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 2012.7762491045
buyback_execution_price_twd_proxy: 2063.0956553321
old_cohort_shares_tendered_proportionately: 7379130.8670287
old_cohort_ownership_end: 0.99960605288441
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 3384.4116532516
sbc_equity_paid_in_oku: 3.4921751306515
parent_dividends_oku: 1669.6388188221
issuer_repurchase_deduction_oku: 152.29852588392
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 460.05444283125
subsidiary_sbc_credit_to_nci_oku_proxy: 0.32593634552748
nci_dividends_oku: 141.99644456471
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）: 11578.455054734
group_cash_oku: 3817.6390711667
group_interest_bearing_debt_ex_lease_oku: 607.39031675162
group_net_cash_ex_lease_oku: 3210.248754415
非支配持分資本（億）: 2234.512959635
issuer_economic_shares: 2554871922
old_holder_cohort_shares: 2553865437.5756
old_holder_fraction: 0.99960605288441
total_other_liabilities_and_leases_proxy_oku: 7373.8444939033
other_non_cash_assets_plug_proxy_oku: 17976.563753857
total_assets_plug_proxy_oku: 21794.202825024
assets_liabilities_equity_residual_oku: -1.82E-12

annual_run_rate

full_fiscal_year_sales_oku

23281.167537677

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.1023054689138
price_growth: 0.009565938
annual_operating_margin_before_sbc: 0.21416584079688

infrastructure

volume_growth: 0.1266844760178
price_growth: 0.010097379
annual_operating_margin_before_sbc: 0.21729728934375

automation

volume_growth: 0.05750534280534
price_growth: 0.006377292
annual_operating_margin_before_sbc: 0.08632556114063

mobility

volume_growth: 0.04625267140267
price_growth: 0.006377292
annual_operating_margin_before_sbc: 0.02679976695313

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）: 11578.455054734
group_cash_oku: 3817.6390711667
group_interest_bearing_debt_ex_lease_oku: 607.39031675162
非支配持分資本（億）: 2234.512959635
issuer_economic_shares: 2554871922
old_holder_cohort_shares: 2553865437.5756
old_holder_fraction: 0.99960605288441

pnl

内容を開く

consolidated_sales_oku

25845.155999956

segments_sales_oku

内容を開く

power_components: 13398.673097613
infrastructure: 10632.910882379
automation: 1216.0344443373
mobility: 578.89866069814

operating_profit_pre_sbc_oku

5275.6229446383

parent_share_sbc_expense_oku

3.8767733999933

subsidiary_share_sbc_expense_oku

0.36183218399938

ifrs_operating_profit_after_sbc_oku

5271.3843390543

net_nonoperating_income_oku

208.15945700983

ifrs_profit_before_tax_oku

5479.5437960641

income_tax_expense_oku

1216.4587227262

consolidated_profit_oku

4263.0850733379

parent_net_income_after_sbc_oku

3745.357074987

nci_profit_oku

517.72799835093

税率

22.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 5071.602585578
pnl_cash_bridge_oku: 4263.0850733379
depreciation_and_amortization_addback_oku: 1188.877175998
parent_non_cash_sbc_addback_oku: 3.8767733999933
subsidiary_non_cash_sbc_addback_oku: 0.36183218399938
working_capital_investment_oku: 384.59826934182
maintenance_capex_cash_oku: 1033.8062399982
growth_capex_cash_oku: 1036.6779239982
total_capex_cash_oku: 2070.4841639964
company_fcf_pre_distributions_oku: 3001.1184215816
parent_declared_and_paid_dividends_oku: 1861.4264092884
nci_cash_dividends_oku: 161.01905499094
issuer_buyback_cash_oku: 168.54105763202
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 54.665128507646
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 181831
company_parent_shares_bought_and_cancelled: 7712235
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 2132.0706660106
buyback_execution_price_twd_proxy: 2185.3724326609
old_cohort_shares_tendered_proportionately: 7708648.1604681
old_cohort_ownership_end: 0.99953491568505
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 3745.357074987
sbc_equity_paid_in_oku: 3.8767733999933
parent_dividends_oku: 1861.4264092884
issuer_repurchase_deduction_oku: 168.54105763202
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 517.72799835093
subsidiary_sbc_credit_to_nci_oku_proxy: 0.36183218399938
nci_dividends_oku: 161.01905499094
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）: 13297.721436201
group_cash_oku: 4573.1058423293
group_interest_bearing_debt_ex_lease_oku: 552.72518824398
group_net_cash_ex_lease_oku: 4020.3806540853
非支配持分資本（億）: 2591.583735179
issuer_economic_shares: 2547341518
old_holder_cohort_shares: 2546156789.4152
old_holder_fraction: 0.99953491568505
total_other_liabilities_and_leases_proxy_oku: 7933.3397901114
other_non_cash_assets_plug_proxy_oku: 19802.264307406
total_assets_plug_proxy_oku: 24375.370149735
assets_liabilities_equity_residual_oku: 1.82E-12

annual_run_rate

full_fiscal_year_sales_oku

25845.155999956

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.09487521106362
price_growth: 0.0086093442
annual_operating_margin_before_sbc: 0.21309096467734

infrastructure

volume_growth: 0.11709704653371
price_growth: 0.0090876411
annual_operating_margin_before_sbc: 0.21605269594219

automation

volume_growth: 0.05462911396011
price_growth: 0.0057395628
annual_operating_margin_before_sbc: 0.08762672696953

mobility

volume_growth: 0.04481455698006
price_growth: 0.0057395628
annual_operating_margin_before_sbc: 0.02877980191016

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）: 13297.721436201
group_cash_oku: 4573.1058423293
group_interest_bearing_debt_ex_lease_oku: 552.72518824398
非支配持分資本（億）: 2591.583735179
issuer_economic_shares: 2547341518
old_holder_cohort_shares: 2546156789.4152
old_holder_fraction: 0.99953491568505

pnl

内容を開く

consolidated_sales_oku

28515.291906117

segments_sales_oku

内容を開く

power_components: 14706.291453911
infrastructure: 11896.004425549
automation: 1286.3829812262
mobility: 607.32176848162

operating_profit_pre_sbc_oku

5810.565498222

parent_share_sbc_expense_oku

4.2772937859176

subsidiary_share_sbc_expense_oku

0.39921408668564

ifrs_operating_profit_after_sbc_oku

5805.8889903494

net_nonoperating_income_oku

235.38904837772

ifrs_profit_before_tax_oku

6041.2780387271

income_tax_expense_oku

1341.1637245974

consolidated_profit_oku

4700.1143141297

parent_net_income_after_sbc_oku

4120.9557836441

nci_profit_oku

579.15853048554

税率

22.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 5615.9738637595
pnl_cash_bridge_oku: 4700.1143141297
depreciation_and_amortization_addback_oku: 1311.7034276814
parent_non_cash_sbc_addback_oku: 4.2772937859176
subsidiary_non_cash_sbc_addback_oku: 0.39921408668564
working_capital_investment_oku: 400.52038592422
maintenance_capex_cash_oku: 1140.6116762447
growth_capex_cash_oku: 1042.3923374569
total_capex_cash_oku: 2183.0040137016
company_fcf_pre_distributions_oku: 3432.9698500578
parent_declared_and_paid_dividends_oku: 2059.9463912428
nci_cash_dividends_oku: 181.20479942282
issuer_buyback_cash_oku: 185.4430094456
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 49.745266941958
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 189906
company_parent_shares_bought_and_cancelled: 8032605
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 2252.3205014466
buyback_execution_price_twd_proxy: 2308.6285139828
old_cohort_shares_tendered_proportionately: 8028270.6485038
old_cohort_ownership_end: 0.99946040524883
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 4120.9557836441
sbc_equity_paid_in_oku: 4.2772937859176
parent_dividends_oku: 2059.9463912428
issuer_repurchase_deduction_oku: 185.4430094456
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 579.15853048554
subsidiary_sbc_credit_to_nci_oku_proxy: 0.39921408668564
nci_dividends_oku: 181.20479942282
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）: 15177.565112942
group_cash_oku: 5529.7362253339
group_interest_bearing_debt_ex_lease_oku: 502.97992130202
group_net_cash_ex_lease_oku: 5026.7563040319
非支配持分資本（億）: 2989.9366803284
issuer_economic_shares: 2539498819
old_holder_cohort_shares: 2538128518.7667
old_holder_fraction: 0.99946040524883
total_other_liabilities_and_leases_proxy_oku: 8498.5556089841
other_non_cash_assets_plug_proxy_oku: 21639.301098223
total_assets_plug_proxy_oku: 27169.037323557
assets_liabilities_equity_residual_oku: -3.64E-12

annual_run_rate

full_fiscal_year_sales_oku

28515.291906117

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.08915391251899
price_growth: 0.00774840978
annual_operating_margin_before_sbc: 0.21217731997574

infrastructure

volume_growth: 0.10971472583095
price_growth: 0.00817887699
annual_operating_margin_before_sbc: 0.21499479155086

automation

volume_growth: 0.05241441774929
price_growth: 0.00516560652
annual_operating_margin_before_sbc: 0.0887327179241

mobility

volume_growth: 0.04370720887464
price_growth: 0.00516560652
annual_operating_margin_before_sbc: 0.03046283162363

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）: 15177.565112942
group_cash_oku: 5529.7362253339
group_interest_bearing_debt_ex_lease_oku: 502.97992130202
非支配持分資本（億）: 2989.9366803284
issuer_economic_shares: 2539498819
old_holder_cohort_shares: 2538128518.7667
old_holder_fraction: 0.99946040524883

pnl

内容を開く

consolidated_sales_oku

26603.464685599

segments_sales_oku

内容を開く

power_components: 13649.90431245
infrastructure: 11242.077043497
automation: 1153.8423095955
mobility: 540.67497447931

operating_profit_pre_sbc_oku

5413.1908003167

parent_share_sbc_expense_oku

3.9905197028398

subsidiary_share_sbc_expense_oku

0.37244850559839

ifrs_operating_profit_after_sbc_oku

5408.8278321082

net_nonoperating_income_oku

225.51878302143

ifrs_profit_before_tax_oku

5634.3466151297

income_tax_expense_oku

1250.8249485588

consolidated_profit_oku

4383.5216665709

parent_net_income_after_sbc_oku

3835.5814582495

nci_profit_oku

547.94020832136

税率

22.20%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 5255.6553660026
pnl_cash_bridge_oku: 4383.5216665709
depreciation_and_amortization_addback_oku: 1223.7593755376
parent_non_cash_sbc_addback_oku: 3.9905197028398
subsidiary_non_cash_sbc_addback_oku: 0.37244850559839
working_capital_investment_oku: 355.98864431427
maintenance_capex_cash_oku: 1064.138587424
growth_capex_cash_oku: 877.91433462477
total_capex_cash_oku: 1942.0529220487
company_fcf_pre_distributions_oku: 3313.6024439539
parent_declared_and_paid_dividends_oku: 2266.5256810043
nci_cash_dividends_oku: 202.70548566994
issuer_buyback_cash_oku: 172.60115559339
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 38.465595620884
cash_end_reconciliation_residual_oku: -1.82E-12

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 168069
company_parent_shares_bought_and_cancelled: 7092150
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 2374.3345996718
buyback_execution_price_twd_proxy: 2433.6929646636
old_cohort_shares_tendered_proportionately: 7087854.0250397
old_cohort_ownership_end: 0.99939426338131
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 3835.5814582495
sbc_equity_paid_in_oku: 3.9905197028398
parent_dividends_oku: 2266.5256810043
issuer_repurchase_deduction_oku: 172.60115559339
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 547.94020832136
subsidiary_sbc_credit_to_nci_oku_proxy: 0.37244850559839
nci_dividends_oku: 202.70548566994
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）: 16578.010254297
group_cash_oku: 6163.0407513992
group_interest_bearing_debt_ex_lease_oku: 464.51432568113
group_net_cash_ex_lease_oku: 5698.5264257181
非支配持分資本（億）: 3335.5438514854
issuer_economic_shares: 2532574738
old_holder_cohort_shares: 2531040664.7416
old_holder_fraction: 0.99939426338131
total_other_liabilities_and_leases_proxy_oku: 9073.0201001568
other_non_cash_assets_plug_proxy_oku: 23288.047780221
total_assets_plug_proxy_oku: 29451.08853162
assets_liabilities_equity_residual_oku: -3.64E-12

annual_run_rate

full_fiscal_year_sales_oku

31308.257475657

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.08474851263962
price_growth: 0.006973568802
annual_operating_margin_before_sbc: 0.21140072197938

infrastructure

volume_growth: 0.10403033888983
price_growth: 0.007360989291
annual_operating_margin_before_sbc: 0.21409557281823

automation

volume_growth: 0.05070910166695
price_growth: 0.004649045868
annual_operating_margin_before_sbc: 0.08967281023549

mobility

volume_growth: 0.04285455083348
price_growth: 0.004649045868
annual_operating_margin_before_sbc: 0.03189340688009

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

9646.5933306711

full_year_annual_segment_sales_oku

内容を開く

power_components: 5178.5052362328
infrastructure: 3349.1228688658
automation: 720.5679870532
mobility: 383.7472198692

full_year_annual_parent_net_income_oku

1432.7415867429

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.225
price_growth: 0.018
annual_operating_margin_before_sbc: 0.226

infrastructure

volume_growth: 0.285
price_growth: 0.019
annual_operating_margin_before_sbc: 0.231

automation

volume_growth: 0.105
price_growth: 0.012
annual_operating_margin_before_sbc: 0.072

mobility

volume_growth: 0.07
price_growth: 0.012
annual_operating_margin_before_sbc: 0.005

2029

内容を開く

full_year_annual_sales_oku

11701.658739985

full_year_annual_segment_sales_oku

内容を開く

power_components: 6258.8318969975
infrastructure: 4220.5207658351
automation: 794.77565237715
mobility: 412.36765547293

full_year_annual_parent_net_income_oku

1734.2303103241

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.18935
price_growth: 0.0162
annual_operating_margin_before_sbc: 0.22315

infrastructure

volume_growth: 0.239
price_growth: 0.0171
annual_operating_margin_before_sbc: 0.2277

automation

volume_growth: 0.0912
price_growth: 0.0108
annual_operating_margin_before_sbc: 0.07545

mobility

volume_growth: 0.0631
price_growth: 0.0108
annual_operating_margin_before_sbc: 0.01025

2030

内容を開く

full_year_annual_sales_oku

13859.364880466

full_year_annual_segment_sales_oku

内容を開く

power_components: 7378.1613603473
infrastructure: 5157.9114955035
automation: 867.16157695609
mobility: 440.43698143089

full_year_annual_parent_net_income_oku

2046.4844218376

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.1618995
price_growth: 0.01458
annual_operating_margin_before_sbc: 0.2207275

infrastructure

volume_growth: 0.20358
price_growth: 0.01539
annual_operating_margin_before_sbc: 0.224895

automation

volume_growth: 0.080574
price_growth: 0.00972
annual_operating_margin_before_sbc: 0.0783825

mobility

volume_growth: 0.057787
price_growth: 0.00972
annual_operating_margin_before_sbc: 0.0147125

2031

内容を開く

full_year_annual_sales_oku

16100.959749856

full_year_annual_segment_sales_oku

内容を開く

power_components: 8527.1749868759
infrastructure: 6151.3233035431
automation: 938.07221042192
mobility: 468.14651146841

full_year_annual_parent_net_income_oku

2367.8233217964

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.140762615
price_growth: 0.013122
annual_operating_margin_before_sbc: 0.218668375

infrastructure

volume_growth: 0.1763066
price_growth: 0.013851
annual_operating_margin_before_sbc: 0.22251075

automation

volume_growth: 0.07239198
price_growth: 0.008748
annual_operating_margin_before_sbc: 0.080875125

mobility

volume_growth: 0.05369599
price_growth: 0.008748
annual_operating_margin_before_sbc: 0.018505625

2032

内容を開く

full_year_annual_sales_oku

18417.629639284

full_year_annual_segment_sales_oku

内容を開く

power_components: 9701.9398607352
infrastructure: 7195.2521530955
automation: 1007.9448743133
mobility: 495.68151778006

full_year_annual_parent_net_income_oku

2697.3592622567

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.12448721355
price_growth: 0.0118098
annual_operating_margin_before_sbc: 0.21691811875

infrastructure

volume_growth: 0.155306082
price_growth: 0.0124659
annual_operating_margin_before_sbc: 0.2204841375

automation

volume_growth: 0.0660918246
price_growth: 0.0078732
annual_operating_margin_before_sbc: 0.08299385625

mobility

volume_growth: 0.0505459123
price_growth: 0.0078732
annual_operating_margin_before_sbc: 0.02172978125

2033

内容を開く

full_year_annual_sales_oku

20808.979684746

full_year_annual_segment_sales_oku

内容を開く

power_components: 10902.787043409
infrastructure: 8288.3260755963
automation: 1077.251697304
mobility: 523.21524190913

full_year_annual_parent_net_income_oku

3035.7069433129

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.1119551544335
price_growth: 0.01062882
annual_operating_margin_before_sbc: 0.2154304009375

infrastructure

volume_growth: 0.13913568314
price_growth: 0.01121931
annual_operating_margin_before_sbc: 0.218761516875

automation

volume_growth: 0.061240704942
price_growth: 0.00708588
annual_operating_margin_before_sbc: 0.0847947778125

mobility

volume_growth: 0.048120352471
price_growth: 0.00708588
annual_operating_margin_before_sbc: 0.0244703140625

2034

内容を開く

full_year_annual_sales_oku

23281.167537677

full_year_annual_segment_sales_oku

内容を開く

power_components: 12133.167157492
infrastructure: 9432.6209618369
automation: 1146.4644328274
mobility: 550.9063720636

full_year_annual_parent_net_income_oku

3384.4116532516

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.1023054689138
price_growth: 0.009565938
annual_operating_margin_before_sbc: 0.21416584079688

infrastructure

volume_growth: 0.1266844760178
price_growth: 0.010097379
annual_operating_margin_before_sbc: 0.21729728934375

automation

volume_growth: 0.05750534280534
price_growth: 0.006377292
annual_operating_margin_before_sbc: 0.08632556114063

mobility

volume_growth: 0.04625267140267
price_growth: 0.006377292
annual_operating_margin_before_sbc: 0.02679976695313

2035

内容を開く

full_year_annual_sales_oku

25845.155999956

full_year_annual_segment_sales_oku

内容を開く

power_components: 13398.673097613
infrastructure: 10632.910882379
automation: 1216.0344443373
mobility: 578.89866069814

full_year_annual_parent_net_income_oku

3745.357074987

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.09487521106362
price_growth: 0.0086093442
annual_operating_margin_before_sbc: 0.21309096467734

infrastructure

volume_growth: 0.11709704653371
price_growth: 0.0090876411
annual_operating_margin_before_sbc: 0.21605269594219

automation

volume_growth: 0.05462911396011
price_growth: 0.0057395628
annual_operating_margin_before_sbc: 0.08762672696953

mobility

volume_growth: 0.04481455698006
price_growth: 0.0057395628
annual_operating_margin_before_sbc: 0.02877980191016

2036

内容を開く

full_year_annual_sales_oku

28515.291906117

full_year_annual_segment_sales_oku

内容を開く

power_components: 14706.291453911
infrastructure: 11896.004425549
automation: 1286.3829812262
mobility: 607.32176848162

full_year_annual_parent_net_income_oku

4120.9557836441

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.08915391251899
price_growth: 0.00774840978
annual_operating_margin_before_sbc: 0.21217731997574

infrastructure

volume_growth: 0.10971472583095
price_growth: 0.00817887699
annual_operating_margin_before_sbc: 0.21499479155086

automation

volume_growth: 0.05241441774929
price_growth: 0.00516560652
annual_operating_margin_before_sbc: 0.0887327179241

mobility

volume_growth: 0.04370720887464
price_growth: 0.00516560652
annual_operating_margin_before_sbc: 0.03046283162363

2037

内容を開く

full_year_annual_sales_oku

31308.257475657

full_year_annual_segment_sales_oku

内容を開く

power_components: 16063.874528478
infrastructure: 13230.225716785
automation: 1357.8980235111
mobility: 636.29273523932

full_year_annual_parent_net_income_oku

4513.8997225702

period_realized_fraction

0.84972677595628

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.08474851263962
price_growth: 0.006973568802
annual_operating_margin_before_sbc: 0.21140072197938

infrastructure

volume_growth: 0.10403033888983
price_growth: 0.007360989291
annual_operating_margin_before_sbc: 0.21409557281823

automation

volume_growth: 0.05070910166695
price_growth: 0.004649045868
annual_operating_margin_before_sbc: 0.08967281023549

mobility

volume_growth: 0.04285455083348
price_growth: 0.004649045868
annual_operating_margin_before_sbc: 0.03189340688009

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: 189.27722441602
2026_full_FY_parent_income_actual_plus_proxy_plus_forecast_oku: 992.98796279928
2026_FY_revenue_actual_plus_proxy_plus_forecast_oku: 7723.2384034783
first_partial_55_92_of_Q4: 0.59782608695652
last_partial_311_366_of_FY2036: 0.84972677595628

scenario_drivers

内容を開く

prob

22.00%

q4_sales_mult

1.06

q4_margin_shift

0.014

tax

0.222

nci_low

0.109

nci_up

0.125

nonop

0.007

growth

内容を開く

power_components

1: 0.225
2: 0.07

infrastructure

1: 0.285
2: 0.085

automation

1: 0.105
2: 0.045

mobility

1: 0.07
2: 0.04

prices

内容を開く

power_components: 0.018
infrastructure: 0.019
automation: 0.012
mobility: 0.012

margin_begin

内容を開く

power_components: 0.226
infrastructure: 0.231
automation: 0.072
mobility: 0.005

margin_end

内容を開く

power_components: 0.207
infrastructure: 0.209
automation: 0.095
mobility: 0.04

capex_begin

0.105

capex_end

0.073

0.15

payout

0.55

buyback

0.045

nci_div

0.35

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

16578.010254297

2036_full_fiscal_year_parent_profit_proxy_oku

4513.8997225702

2037_full_fiscal_year_parent_profit_proxy_oku

4660.6014635537

next12mo_2036_Nov07_to_Dec31_days

next12mo_2037_Jan01_to_Nov06_days

310

next12mo_NI_from_2036_FY_and_2037_FY_proxy_oku

4636.637315558

next12mo_roe

0.2796859963551

end_18_year_book_equity_oku

32114.95434061

book_equity_mature_value_after_year18_oku

32114.95434061

mature_year19_extra_sbc_buyback_over_grant_value_oku

0.65032782539736

mature_cash_FCFE_capital_growth_rate

0.025

perpetuity_extra_sbc_repurchase_cost_capitalized_at_year18_oku

10.005043467652

mature_year18_continuation_value_oku

32104.949297143

finite_18_year_cash_FCFE_PV_oku

29229.035439061

tail_PV_oku

6806.0482788374

company_parent_equity_valuation_DCF_oku

36035.083717899

company_parent_equity_valuation_RI_crosscheck_oku

36035.083717899

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: 16578.010254297
sustainable_roe: 0.2796859963551
parent_ni_after_sbc_oku: 4636.637315558
required_book_reinvestment_oku: 862.05653322344
book_growth_rate: 0.052
employee_sbc_expense_already_in_ni_oku: 6.9549559733371
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 7.9981993693376
repurchase_minus_sbc_addback_oku: 1.0432433960006
sustainable_distributable_to_parent_common_cash_oku: 3773.5375389386
end_book_equity_oku: 17440.06678752
residual_profit_after_capital_charge_oku: 3143.5731492753
present_value_owner_fcfe_oku: 3461.9610448978

内容を開く

forward_year: 2038
years_after_exit: 2
start_book_equity_oku: 17440.06678752
sustainable_roe: 0.26616270278613
parent_ni_after_sbc_oku: 4641.895312937
required_book_reinvestment_oku: 874.37463205287
book_growth_rate: 0.05013596809609
employee_sbc_expense_already_in_ni_oku: 6.9628429694055
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 8.0072694148163
repurchase_minus_sbc_addback_oku: 1.0444264454108
sustainable_distributable_to_parent_common_cash_oku: 3766.4762544387
end_book_equity_oku: 18314.441419573
residual_profit_after_capital_charge_oku: 3071.2448756148
present_value_owner_fcfe_oku: 3170.1677084747

内容を開く

forward_year: 2039
years_after_exit: 3
start_book_equity_oku: 18314.441419573
sustainable_roe: 0.25282418838904
parent_ni_after_sbc_oku: 4630.3337877023
required_book_reinvestment_oku: 884.4556810638
book_growth_rate: 0.04829280133647
employee_sbc_expense_already_in_ni_oku: 6.9455006815535
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 7.9873257837865
repurchase_minus_sbc_addback_oku: 1.041825102233
sustainable_distributable_to_parent_common_cash_oku: 3744.8362815363
end_book_equity_oku: 19198.897100637
residual_profit_after_capital_charge_oku: 2980.9922348385
present_value_owner_fcfe_oku: 2891.7007121356

内容を開く

forward_year: 2040
years_after_exit: 4
start_book_equity_oku: 19198.897100637
sustainable_roe: 0.23968000519095
parent_ni_after_sbc_oku: 4601.5917567411
required_book_reinvestment_oku: 892.20414143204
book_growth_rate: 0.04647163515463
employee_sbc_expense_already_in_ni_oku: 6.9023876351117
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 7.9377457803785
repurchase_minus_sbc_addback_oku: 1.0353581452667
sustainable_distributable_to_parent_common_cash_oku: 3708.3522571638
end_book_equity_oku: 20091.101242069
residual_profit_after_capital_charge_oku: 2872.6556595385
present_value_owner_fcfe_oku: 2627.0902304854

内容を開く

forward_year: 2041
years_after_exit: 5
start_book_equity_oku: 20091.101242069
sustainable_roe: 0.22674091317095
parent_ni_after_sbc_oku: 4555.4746422367
required_book_reinvestment_oku: 897.54487440602
book_growth_rate: 0.04467375200552
employee_sbc_expense_already_in_ni_oku: 6.833211963355
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 7.8581937578583
repurchase_minus_sbc_addback_oku: 1.0249817945033
sustainable_distributable_to_parent_common_cash_oku: 3656.9047860362
end_book_equity_oku: 20988.646116475
residual_profit_after_capital_charge_oku: 2746.250548656
present_value_owner_fcfe_oku: 2376.7371971495

内容を開く

forward_year: 2042
years_after_exit: 6
start_book_equity_oku: 20988.646116475
sustainable_roe: 0.21401913736144
parent_ni_after_sbc_oku: 4491.9719362326
required_book_reinvestment_oku: 900.42578770457
book_growth_rate: 0.04290061315569
employee_sbc_expense_already_in_ni_oku: 6.7379579043489
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 7.7486515900013
repurchase_minus_sbc_addback_oku: 1.0106936856523
sustainable_distributable_to_parent_common_cash_oku: 3590.5354548424
end_book_equity_oku: 21889.07190418
residual_profit_after_capital_charge_oku: 2601.9830920642
present_value_owner_fcfe_oku: 2140.9189777239

内容を開く

forward_year: 2043
years_after_exit: 7
start_book_equity_oku: 21889.07190418
sustainable_roe: 0.20152870562636
parent_ni_after_sbc_oku: 4411.2763282117
required_book_reinvestment_oku: 900.82068873214
book_growth_rate: 0.04115390057082
employee_sbc_expense_already_in_ni_oku: 6.6169144923176
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 7.6094516661652
repurchase_minus_sbc_addback_oku: 0.99253717384764
sustainable_distributable_to_parent_common_cash_oku: 3509.4631023057
end_book_equity_oku: 22789.892592912
residual_profit_after_capital_charge_oku: 2440.2673196617
present_value_owner_fcfe_oku: 1919.7964979753

内容を開く

forward_year: 2044
years_after_exit: 8
start_book_equity_oku: 22789.892592912
sustainable_roe: 0.18928590208073
parent_ni_after_sbc_oku: 4313.8053777722
required_book_reinvestment_oku: 898.7324803261
book_growth_rate: 0.03943557332103
employee_sbc_expense_already_in_ni_oku: 6.4707080666583
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 7.441314276657
repurchase_minus_sbc_addback_oku: 0.97060620999874
sustainable_distributable_to_parent_common_cash_oku: 3414.1022912361
end_book_equity_oku: 23688.625073238
residual_profit_after_capital_charge_oku: 2261.7444382001
present_value_owner_fcfe_oku: 1713.4228153249

内容を開く

forward_year: 2045
years_after_exit: 9
start_book_equity_oku: 23688.625073238
sustainable_roe: 0.17730989130287
parent_ni_after_sbc_oku: 4200.2275368503
required_book_reinvestment_oku: 894.1969282071
book_growth_rate: 0.03774794549884
employee_sbc_expense_already_in_ni_oku: 6.3003413052754
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 7.2453925010667
repurchase_minus_sbc_addback_oku: 0.94505119579131
sustainable_distributable_to_parent_common_cash_oku: 3305.0855574474
end_book_equity_oku: 24582.822001445
residual_profit_after_capital_charge_oku: 2067.3062290631
present_value_owner_fcfe_oku: 1521.7532043269

内容を開く

forward_year: 2046
years_after_exit: 10
start_book_equity_oku: 24582.822001445
sustainable_roe: 0.16562360390081
parent_ni_after_sbc_oku: 4071.4955739315
required_book_reinvestment_oku: 887.28739134724
book_growth_rate: 0.03609379717654
employee_sbc_expense_already_in_ni_oku: 6.1072433608973
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 7.0233298650319
repurchase_minus_sbc_addback_oku: 0.91608650413459
sustainable_distributable_to_parent_common_cash_oku: 3183.2920960801
end_book_equity_oku: 25470.109392792
residual_profit_after_capital_charge_oku: 1858.1255072973
present_value_owner_fcfe_oku: 1344.6569828899

内容を開く

forward_year: 2047
years_after_exit: 11
start_book_equity_oku: 25470.109392792
sustainable_roe: 0.15425503949138
parent_ni_after_sbc_oku: 3928.8927302351
required_book_reinvestment_oku: 878.12120308419
book_growth_rate: 0.03447653834312
employee_sbc_expense_already_in_ni_oku: 5.8933390953526
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 6.7773399596555
repurchase_minus_sbc_addback_oku: 0.88400086430289
sustainable_distributable_to_parent_common_cash_oku: 3049.8875262866
end_book_equity_oku: 26348.230595877
residual_profit_after_capital_charge_oku: 1635.6988840195
present_value_owner_fcfe_oku: 1181.9316063485

内容を開く

forward_year: 2048
years_after_exit: 12
start_book_equity_oku: 26348.230595877
sustainable_roe: 0.14323927239768
parent_ni_after_sbc_oku: 3774.1013795197
required_book_reinvestment_oku: 866.86897092157
book_growth_rate: 0.03290046243398
employee_sbc_expense_already_in_ni_oku: 5.6611520692795
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 6.5103248796714
repurchase_minus_sbc_addback_oku: 0.84917281039192
sustainable_distributable_to_parent_common_cash_oku: 2906.3832357877
end_book_equity_oku: 27215.099566798
residual_profit_after_capital_charge_oku: 1401.9114530804
present_value_owner_fcfe_oku: 1033.3201647817

内容を開く

forward_year: 2049
years_after_exit: 13
start_book_equity_oku: 27215.099566798
sustainable_roe: 0.13262172192603
parent_ni_after_sbc_oku: 3609.313366937
required_book_reinvestment_oku: 853.76929495638
book_growth_rate: 0.03137116191182
employee_sbc_expense_already_in_ni_oku: 5.4139700504056
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 6.2260655579664
repurchase_minus_sbc_addback_oku: 0.81209550756083
sustainable_distributable_to_parent_common_cash_oku: 2754.7319764731
end_book_equity_oku: 28068.868861754
residual_profit_after_capital_charge_oku: 1159.1423104177
present_value_owner_fcfe_oku: 898.5347486144

内容を開く

forward_year: 2050
years_after_exit: 14
start_book_equity_oku: 28068.868861754
sustainable_roe: 0.12246390624405
parent_ni_after_sbc_oku: 3437.4233246624
required_book_reinvestment_oku: 839.15431378433
book_growth_rate: 0.02989626400399
employee_sbc_expense_already_in_ni_oku: 5.1561349869936
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 5.9295552350426
repurchase_minus_sbc_addback_oku: 0.77342024804904
sustainable_distributable_to_parent_common_cash_oku: 2597.49559063
end_book_equity_oku: 28908.023175539
residual_profit_after_capital_charge_oku: 910.45170685644
present_value_owner_fcfe_oku: 777.29137343042

内容を開く

forward_year: 2051
years_after_exit: 15
start_book_equity_oku: 28908.023175539
sustainable_roe: 0.11285469957087
parent_ni_after_sbc_oku: 3262.4062706632
required_book_reinvestment_oku: 823.49941416024
book_growth_rate: 0.02848688093128
employee_sbc_expense_already_in_ni_oku: 4.8936094059948
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 5.6276508168941
repurchase_minus_sbc_addback_oku: 0.73404141089923
sustainable_distributable_to_parent_common_cash_oku: 2438.1728150921
end_book_equity_oku: 29731.522589699
residual_profit_after_capital_charge_oku: 659.95014345383
present_value_owner_fcfe_oku: 669.37118903827

内容を開く

forward_year: 2052
years_after_exit: 16
start_book_equity_oku: 29731.522589699
sustainable_roe: 0.10393619391645
parent_ni_after_sbc_oku: 3090.1812973142
required_book_reinvestment_oku: 807.53709579021
book_growth_rate: 0.02716097345348
employee_sbc_expense_already_in_ni_oku: 4.6352719459713
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 5.330562737867
repurchase_minus_sbc_addback_oku: 0.6952907918957
sustainable_distributable_to_parent_common_cash_oku: 2281.9489107321
end_book_equity_oku: 30539.059685489
residual_profit_after_capital_charge_oku: 413.6489734494
present_value_owner_fcfe_oku: 574.75393057706

内容を開く

forward_year: 2053
years_after_exit: 17
start_book_equity_oku: 30539.059685489
sustainable_roe: 0.09598256720608
parent_ni_after_sbc_oku: 2931.2173486729
required_book_reinvestment_oku: 792.60308583805
book_growth_rate: 0.02595374887114
employee_sbc_expense_already_in_ni_oku: 4.3968260230093
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 5.0563499264608
repurchase_minus_sbc_addback_oku: 0.6595239034514
sustainable_distributable_to_parent_common_cash_oku: 2137.9547389314
end_book_equity_oku: 31331.662771327
residual_profit_after_capital_charge_oku: 182.04245307542
present_value_owner_fcfe_oku: 494.02399330218

内容を開く

forward_year: 2054
years_after_exit: 18
start_book_equity_oku: 31331.662771327
sustainable_roe: 0.09
parent_ni_after_sbc_oku: 2819.8496494195
required_book_reinvestment_oku: 783.29156928318
book_growth_rate: 0.025
employee_sbc_expense_already_in_ni_oku: 4.2297744741292
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 4.8642406452486
repurchase_minus_sbc_addback_oku: 0.63446617111938
sustainable_distributable_to_parent_common_cash_oku: 2035.9236139652
end_book_equity_oku: 32114.95434061
residual_profit_after_capital_charge_oku: -0.63446617111938
present_value_owner_fcfe_oku: 431.60306158481

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

site_irr_npv_reconciliation_oku

-3.274E-11

act_irr_npv_reconciliation_oku

-1.455E-11

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

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分析に使用した資料

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