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。

このシナリオの数値・キャッシュフローを開く →

大幅上振れ（確率 8.0%）

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

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: 506.19630921554
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: 506.19630921554
ex_date: 2027-06-17
declaration_date_assumed: 2027-05-20
company_total_dividend_oku: 506.19630921554
eligible_outstanding_shares: 2597543329
dividend_per_share_twd: 19.487502039491
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: 114646
grant_expense_previously_included_in_ifrs_op_oku: 1.5885008879567
noncash_apic_equity_credit_oku: 1.5885008879567
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1385.5651019001
issuer_shares_after: 2597657975
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: 97.355091464366
confirmed: いいえ
company_issuer_repurchase_cash_oku: 97.359388359702
company_total_shares_retired: 6855309
old_holder_tendered_shares: 6855006.4452514
old_holder_shares_after: 2590688322.5547
issuer_shares_after: 2590802666
old_holder_fraction_before: 0.99995586562931
old_holder_fraction_after: 0.99995586562931
assumed_tender_price_twd: 1420.2042294476
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: 885.08534646528
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: 885.0462837805
ex_date: 2028-06-17
declaration_date_assumed: 2028-05-20
company_total_dividend_oku: 885.08534646528
eligible_outstanding_shares: 2590802666
dividend_per_share_twd: 34.162592083163
old_holder_shares_on_ex_date: 2590688322.5547
old_holder_fraction_on_ex_date: 0.99995586562931
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: 131028
grant_expense_previously_included_in_ifrs_op_oku: 2.0796530721762
noncash_apic_equity_credit_oku: 2.0796530721762
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1587.1869739085
issuer_shares_after: 2590933694
old_holder_shares_after: 2590688322.5547
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: 127.25552889072
confirmed: いいえ
company_issuer_repurchase_cash_oku: 127.26758162311
company_total_shares_retired: 7822865
old_holder_tendered_shares: 7822124.1444175
old_holder_shares_after: 2582866198.4103
issuer_shares_after: 2583110829
old_holder_fraction_before: 0.99990529613096
old_holder_fraction_after: 0.99990529613096
assumed_tender_price_twd: 1626.8666482562
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: 1156.9780218654
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: 1156.8684515704
ex_date: 2029-06-17
declaration_date_assumed: 2029-05-20
company_total_dividend_oku: 1156.9780218654
eligible_outstanding_shares: 2583110829
dividend_per_share_twd: 44.790103811123
old_holder_shares_on_ex_date: 2582866198.4103
old_holder_fraction_on_ex_date: 0.99990529613096
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: 147572
grant_expense_previously_included_in_ifrs_op_oku: 2.6434250112797
noncash_apic_equity_credit_oku: 2.6434250112797
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1791.2725104413
issuer_shares_after: 2583258401
old_holder_shares_after: 2582866198.4103
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: 161.15025355059
confirmed: いいえ
company_issuer_repurchase_cash_oku: 161.17472386454
company_total_shares_retired: 8778320
old_holder_tendered_shares: 8776987.2336629
old_holder_shares_after: 2574089211.1767
issuer_shares_after: 2574480081
old_holder_fraction_before: 0.99984817523887
old_holder_fraction_after: 0.99984817523887
assumed_tender_price_twd: 1836.0543232024
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: 1465.2247674311
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: 1465.0023100308
ex_date: 2030-06-17
declaration_date_assumed: 2030-05-20
company_total_dividend_oku: 1465.2247674311
eligible_outstanding_shares: 2574480081
dividend_per_share_twd: 56.913424121812
old_holder_shares_on_ex_date: 2574089211.1767
old_holder_fraction_on_ex_date: 0.99984817523887
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: 164217
grant_expense_previously_included_in_ifrs_op_oku: 3.2802889208281
noncash_apic_equity_credit_oku: 3.2802889208281
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 1997.5370263284
issuer_shares_after: 2574644298
old_holder_shares_after: 2574089211.1767
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: 198.9380127038
confirmed: いいえ
company_issuer_repurchase_cash_oku: 198.98091248716
company_total_shares_retired: 9718354
old_holder_tendered_shares: 9716258.7473649
old_holder_shares_after: 2564372952.4293
issuer_shares_after: 2564925944
old_holder_fraction_before: 0.99978440251969
old_holder_fraction_after: 0.99978440251969
assumed_tender_price_twd: 2047.4754519866
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: 1808.9173579144
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: 1808.5273598899
ex_date: 2031-06-17
declaration_date_assumed: 2031-05-20
company_total_dividend_oku: 1808.9173579144
eligible_outstanding_shares: 2564925944
dividend_per_share_twd: 70.525130058663
old_holder_shares_on_ex_date: 2564372952.4293
old_holder_fraction_on_ex_date: 0.99978440251969
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: 180861
grant_expense_previously_included_in_ifrs_op_oku: 3.992539803829
noncash_apic_equity_credit_oku: 3.992539803829
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 2207.5193595342
issuer_shares_after: 2565106805
old_holder_shares_after: 2564372952.4293
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: 240.90941310529
confirmed: いいえ
company_issuer_repurchase_cash_oku: 240.97835471222
company_total_shares_retired: 10650001
old_holder_tendered_shares: 10646954.136378
old_holder_shares_after: 2553725998.2929
issuer_shares_after: 2554456804
old_holder_fraction_before: 0.99971390954588
old_holder_fraction_after: 0.99971390954588
assumed_tender_price_twd: 2262.7073435225
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: 2190.7122720666
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: 2190.0855301978
ex_date: 2032-06-17
declaration_date_assumed: 2032-05-20
company_total_dividend_oku: 2190.7122720666
eligible_outstanding_shares: 2554456804
dividend_per_share_twd: 85.760396051174
old_holder_shares_on_ex_date: 2553725998.2929
old_holder_fraction_on_ex_date: 0.99971390954588
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: 2032-09-15
year: 5.8590006844627
金額: 0
confirmed: いいえ
issuer_new_shares: 197529
grant_expense_previously_included_in_ifrs_op_oku: 4.7846733883919
noncash_apic_equity_credit_oku: 4.7846733883919
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 2422.2646246489
issuer_shares_after: 2554654333
old_holder_shares_after: 2553725998.2929
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: 287.34705228768
confirmed: いいえ
company_issuer_repurchase_cash_oku: 287.45150916433
company_total_shares_retired: 11577616
old_holder_tendered_shares: 11573408.815247
old_holder_shares_after: 2542152589.4777
issuer_shares_after: 2543076717
old_holder_fraction_before: 0.99963661044272
old_holder_fraction_after: 0.99963661044272
assumed_tender_price_twd: 2482.8212402651
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: 2613.1956087625
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

内容を開く

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: 2612.2460007672
ex_date: 2033-06-17
declaration_date_assumed: 2033-05-20
company_total_dividend_oku: 2613.1956087625
eligible_outstanding_shares: 2543076717
dividend_per_share_twd: 102.75724642099
old_holder_shares_on_ex_date: 2542152589.4777
old_holder_fraction_on_ex_date: 0.99963661044272
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: 214281
grant_expense_previously_included_in_ifrs_op_oku: 5.6635144295586
noncash_apic_equity_credit_oku: 5.6635144295586
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 2643.0258254282
issuer_shares_after: 2543290998
old_holder_shares_after: 2542152589.4777
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: 338.6656114167
confirmed: いいえ
company_issuer_repurchase_cash_oku: 338.8172702195
company_total_shares_retired: 12506629
old_holder_tendered_shares: 12501030.878098
old_holder_shares_after: 2529651558.5996
issuer_shares_after: 2530784369
old_holder_fraction_before: 0.99955238762563
old_holder_fraction_after: 0.99955238762563
assumed_tender_price_twd: 2709.1014710639
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: 2034-05-20
year: 7.5345653661875
金額: 0
company_total_declaration_oku: 3080.1571100891
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

内容を開く

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: 3078.7783936516
ex_date: 2034-06-17
declaration_date_assumed: 2034-05-20
company_total_dividend_oku: 3080.1571100891
eligible_outstanding_shares: 2530784369
dividend_per_share_twd: 121.70760764206
old_holder_shares_on_ex_date: 2529651558.5996
old_holder_fraction_on_ex_date: 0.99955238762563
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: 231199
grant_expense_previously_included_in_ifrs_op_oku: 6.6382161933126
noncash_apic_equity_credit_oku: 6.6382161933126
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 2871.2156465242
issuer_shares_after: 2531015568
old_holder_shares_after: 2529651558.5996
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: 395.41854142595
confirmed: いいえ
company_issuer_repurchase_cash_oku: 395.63175442984
company_total_shares_retired: 13443163
old_holder_tendered_shares: 13435918.239859
old_holder_shares_after: 2516215640.3597
issuer_shares_after: 2517572405
old_holder_fraction_before: 0.99946108217679
old_holder_fraction_after: 0.99946108217679
assumed_tender_price_twd: 2942.9960376873
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: 2035-05-20
year: 8.5338809034908
金額: 0
company_total_declaration_oku: 3596.6524071035
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: 3594.7141070174
ex_date: 2035-06-17
declaration_date_assumed: 2035-05-20
company_total_dividend_oku: 3596.6524071035
eligible_outstanding_shares: 2517572405
dividend_per_share_twd: 142.86192524038
old_holder_shares_on_ex_date: 2516215640.3597
old_holder_fraction_on_ex_date: 0.99946108217679
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: 248372
grant_expense_previously_included_in_ifrs_op_oku: 7.7202218265281
noncash_apic_equity_credit_oku: 7.7202218265281
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 3108.3323946592
issuer_shares_after: 2517820777
old_holder_shares_after: 2516215640.3597
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: 458.29216877969
confirmed: いいえ
company_issuer_repurchase_cash_oku: 458.58452112829
company_total_shares_retired: 14393555
old_holder_tendered_shares: 14384378.960655
old_holder_shares_after: 2501831261.3991
issuer_shares_after: 2503427222
old_holder_fraction_before: 0.99936248971534
old_holder_fraction_after: 0.99936248971534
assumed_tender_price_twd: 3186.0407045257
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: 4168.950126818
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: 4166.2923782359
ex_date: 2036-06-17
declaration_date_assumed: 2036-05-20
company_total_dividend_oku: 4168.950126818
eligible_outstanding_shares: 2503427222
dividend_per_share_twd: 166.52971135656
old_holder_shares_on_ex_date: 2501831261.3991
old_holder_fraction_on_ex_date: 0.99936248971534
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: 225952
grant_expense_previously_included_in_ifrs_op_oku: 7.5823196059161
noncash_apic_equity_credit_oku: 7.5823196059161
cash_from_old_shareholders_oku: 0
fair_value_per_share_execution_proxy_twd: 3355.7153693099
issuer_shares_after: 2503653174
old_holder_shares_after: 2501831261.3991
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: 448.69281403571
confirmed: いいえ
company_issuer_repurchase_cash_oku: 449.01956632491
company_total_shares_retired: 13054381
old_holder_tendered_shares: 13044881.305119
old_holder_shares_after: 2488786380.0939
issuer_shares_after: 2490598793
old_holder_fraction_before: 0.99927229832796
old_holder_fraction_after: 0.99927229832796
assumed_tender_price_twd: 3439.6082535427
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

24217.781612018

終価

75133.731760065

company_whole_parent_equity_terminal_oku

75188.446518314

company_issuer_common_mcap_proxy_terminal_oku

75188.446518314

issuer_2026_11_06_mcap_oku

27404.08212095

terminal_company_value_per_share_twd

3018.8903459536

dividend_cash_to_cohort_oku

21463.757124357

issuer_repurchase_tender_cash_to_cohort_oku

2754.0244876605

old_holder_terminal_equity_fraction

0.99927229832796

old_holder_residual_shares

2488786380.0939

company_shares_outstanding_at_exit

2490598793

現在価値（億）

45636.981006226

pv_act36525_terminal_oku

45633.237151196

net_pv_minus_initial_oku

18232.898885276

irr

0.15616664700297

irr_site_exponent_10

0.15616664700297

irr_act36525_all_event_dates

0.15614922534289

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

1503.8434782609

segments_sales_oku

内容を開く

power_components: 823.5652173913
infrastructure: 488.78260869565
automation: 120.52173913043
mobility: 66.95652173913

operating_profit_pre_sbc_oku

288.91739130435

parent_share_sbc_expense_oku

subsidiary_share_sbc_expense_oku

0.02391304347826

ifrs_operating_profit_after_sbc_oku

288.89347826087

net_nonoperating_income_oku

14.945652173913

ifrs_profit_before_tax_oku

303.83913043478

income_tax_expense_oku

71.402195652174

consolidated_profit_oku

232.43693478261

parent_net_income_after_sbc_oku

208.68188004783

nci_profit_oku

23.755054734783

税率

23.50%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 255.79716752174
pnl_cash_bridge_oku: 232.43693478261
depreciation_and_amortization_addback_oku: 69.1768
parent_non_cash_sbc_addback_oku: 0
subsidiary_non_cash_sbc_addback_oku: 0.02391304347826
working_capital_investment_oku: 45.840480304348
maintenance_capex_cash_oku: 61.657582608696
growth_capex_cash_oku: 61.657582608696
total_capex_cash_oku: 123.31516521739
company_fcf_pre_distributions_oku: 132.48200230435
parent_declared_and_paid_dividends_oku: 0
nci_cash_dividends_oku: 0
issuer_buyback_cash_oku: 0
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 15.002665323288
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

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

equity_rollforward

内容を開く

parent_net_income_oku: 208.68188004783
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: 23.755054734783
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）: 3502.5074484311
group_cash_oku: 2284.1262293811
group_interest_bearing_debt_ex_lease_oku: 1091.2544746767
group_net_cash_ex_lease_oku: 1192.8717547043
非支配持分資本（億）: 698.85532917761
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: 6414.5350229043
total_assets_plug_proxy_oku: 8698.6612522854
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

7803.8014469565

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: 0.217

infrastructure

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: 0.207

automation

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: 0.071

mobility

volume_growth: 未確認
price_growth: 未確認
annual_operating_margin_before_sbc: 0.007

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）: 3502.5074484311
group_cash_oku: 2284.1262293811
group_interest_bearing_debt_ex_lease_oku: 1091.2544746767
非支配持分資本（億）: 698.85532917761
issuer_economic_shares: 2597543329
old_holder_cohort_shares: 2597543329
old_holder_fraction: 1

pnl

内容を開く

consolidated_sales_oku

10590.005919711

segments_sales_oku

内容を開く

power_components: 5694.1149881099
infrastructure: 3705.4809925807
automation: 767.78756878257
mobility: 407.74960158824

operating_profit_pre_sbc_oku

2430.4908401159

parent_share_sbc_expense_oku

1.5885008879567

subsidiary_share_sbc_expense_oku

0.14826008287596

ifrs_operating_profit_after_sbc_oku

2428.7540791451

net_nonoperating_income_oku

98.508735027032

ifrs_profit_before_tax_oku

2527.2628141721

income_tax_expense_oku

538.30697941866

consolidated_profit_oku

1988.9558347534

parent_net_income_after_sbc_oku

1770.1706929306

nci_profit_oku

218.78514182288

税率

21.30%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 2004.1781076627
pnl_cash_bridge_oku: 1988.9558347534
depreciation_and_amortization_addback_oku: 487.14027230672
parent_non_cash_sbc_addback_oku: 1.5885008879567
subsidiary_non_cash_sbc_addback_oku: 0.14826008287596
working_capital_investment_oku: 473.65476036833
maintenance_capex_cash_oku: 423.60023678846
growth_capex_cash_oku: 931.9205209346
total_capex_cash_oku: 1355.5207577231
company_fcf_pre_distributions_oku: 648.65734993961
parent_declared_and_paid_dividends_oku: 506.19630921554
nci_cash_dividends_oku: 46.099115671043
issuer_buyback_cash_oku: 97.359388359702
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: 114646
company_parent_shares_bought_and_cancelled: 6855309
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1385.5651019001
buyback_execution_price_twd_proxy: 1420.2042294476
old_cohort_shares_tendered_proportionately: 6855006.4452515
old_cohort_ownership_end: 0.99995586562931
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 1770.1706929306
sbc_equity_paid_in_oku: 1.5885008879567
parent_dividends_oku: 506.19630921554
issuer_repurchase_deduction_oku: 97.359388359702
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 218.78514182288
subsidiary_sbc_credit_to_nci_oku_proxy: 0.14826008287596
nci_dividends_oku: 46.099115671043
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）: 4670.7109446744
group_cash_oku: 2184.9158633535
group_interest_bearing_debt_ex_lease_oku: 993.04157195581
group_net_cash_ex_lease_oku: 1191.8742913977
非支配持分資本（億）: 871.68961541232
issuer_economic_shares: 2590802666
old_holder_cohort_shares: 2590688322.5547
old_holder_fraction: 0.99995586562931
total_other_liabilities_and_leases_proxy_oku: 4217.5792144393
other_non_cash_assets_plug_proxy_oku: 8568.1054831283
total_assets_plug_proxy_oku: 10753.021346482
assets_liabilities_equity_residual_oku: 1.82E-12

annual_run_rate

full_fiscal_year_sales_oku

10590.005919711

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.325
price_growth: 0.024
annual_operating_margin_before_sbc: 0.248

infrastructure

volume_growth: 0.395
price_growth: 0.028
annual_operating_margin_before_sbc: 0.256

automation

volume_growth: 0.16
price_growth: 0.017
annual_operating_margin_before_sbc: 0.085

mobility

volume_growth: 0.12
price_growth: 0.017
annual_operating_margin_before_sbc: 0.011

noncapex_working_capital_ratio_on_incremental_revenue

0.17

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）: 4670.7109446744
group_cash_oku: 2184.9158633535
group_interest_bearing_debt_ex_lease_oku: 993.04157195581
非支配持分資本（億）: 871.68961541232
issuer_economic_shares: 2590802666
old_holder_cohort_shares: 2590688322.5547
old_holder_fraction: 0.99995586562931

pnl

内容を開く

consolidated_sales_oku

13864.353814508

segments_sales_oku

内容を開く

power_components: 7433.3912940475
infrastructure: 5072.2366884703
automation: 886.33097503109
mobility: 457.00154140672

operating_profit_pre_sbc_oku

3187.4854951838

parent_share_sbc_expense_oku

2.0796530721762

subsidiary_share_sbc_expense_oku

0.19410095340312

ifrs_operating_profit_after_sbc_oku

3185.2117411582

net_nonoperating_income_oku

128.75359466891

ifrs_profit_before_tax_oku

3313.9653358271

income_tax_expense_oku

705.87461653117

consolidated_profit_oku

2608.0907192959

parent_net_income_after_sbc_oku

2313.9560437309

nci_profit_oku

294.13467556504

税率

21.30%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 2691.4856066734
pnl_cash_bridge_oku: 2608.0907192959
depreciation_and_amortization_addback_oku: 637.76027546738
parent_non_cash_sbc_addback_oku: 2.0796530721762
subsidiary_non_cash_sbc_addback_oku: 0.19410095340312
working_capital_investment_oku: 556.63914211548
maintenance_capex_cash_oku: 554.57415258033
growth_capex_cash_oku: 1164.6057204187
total_capex_cash_oku: 1719.179872999
company_fcf_pre_distributions_oku: 972.30573367439
parent_declared_and_paid_dividends_oku: 885.08534646528
nci_cash_dividends_oku: 87.514056729151
issuer_buyback_cash_oku: 127.26758162311
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 10.345128003458
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 131028
company_parent_shares_bought_and_cancelled: 7822865
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1587.1869739085
buyback_execution_price_twd_proxy: 1626.8666482562
old_cohort_shares_tendered_proportionately: 7822124.1444173
old_cohort_ownership_end: 0.99990529613096
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 2313.9560437309
sbc_equity_paid_in_oku: 2.0796530721762
parent_dividends_oku: 885.08534646528
issuer_repurchase_deduction_oku: 127.26758162311
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 294.13467556504
subsidiary_sbc_credit_to_nci_oku_proxy: 0.19410095340312
nci_dividends_oku: 87.514056729151
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）: 5974.393713389
group_cash_oku: 2047.0094842069
group_interest_bearing_debt_ex_lease_oku: 982.69644395235
group_net_cash_ex_lease_oku: 1064.3130402545
非支配持分資本（億）: 1078.5043352016
issuer_economic_shares: 2583110829
old_holder_cohort_shares: 2582866198.4103
old_holder_fraction: 0.99990529613096
total_other_liabilities_and_leases_proxy_oku: 5092.905868901
other_non_cash_assets_plug_proxy_oku: 11081.490877237
total_assets_plug_proxy_oku: 13128.500361444
assets_liabilities_equity_residual_oku: 9.1E-13

annual_run_rate

full_fiscal_year_sales_oku

13864.353814508

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.27785
price_growth: 0.0216
annual_operating_margin_before_sbc: 0.2447

infrastructure

volume_growth: 0.3352
price_growth: 0.0252
annual_operating_margin_before_sbc: 0.25285

automation

volume_growth: 0.137
price_growth: 0.0153
annual_operating_margin_before_sbc: 0.08875

mobility

volume_growth: 0.1039
price_growth: 0.0153
annual_operating_margin_before_sbc: 0.0161

noncapex_working_capital_ratio_on_incremental_revenue

0.17

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）: 5974.393713389
group_cash_oku: 2047.0094842069
group_interest_bearing_debt_ex_lease_oku: 982.69644395235
非支配持分資本（億）: 1078.5043352016
issuer_economic_shares: 2583110829
old_holder_cohort_shares: 2582866198.4103
old_holder_fraction: 0.99990529613096

pnl

内容を開く

consolidated_sales_oku

17622.833408531

segments_sales_oku

内容を開く

power_components: 9408.2956228186
infrastructure: 6687.1963367046
automation: 1005.7220824798
mobility: 505.68728493107

operating_profit_pre_sbc_oku

4051.5695888515

parent_share_sbc_expense_oku

2.6434250112797

subsidiary_share_sbc_expense_oku

0.24671966771944

ifrs_operating_profit_after_sbc_oku

4048.6794441725

net_nonoperating_income_oku

161.38705952771

ifrs_profit_before_tax_oku

4210.0665037002

income_tax_expense_oku

896.74416528814

consolidated_profit_oku

3313.322338412

parent_net_income_after_sbc_oku

2930.4495348622

nci_profit_oku

382.87280354984

税率

21.30%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 3487.9212888996
pnl_cash_bridge_oku: 3313.322338412
depreciation_and_amortization_addback_oku: 810.65033679243
parent_non_cash_sbc_addback_oku: 2.6434250112797
subsidiary_non_cash_sbc_addback_oku: 0.24671966771944
working_capital_investment_oku: 638.94153098388
maintenance_capex_cash_oku: 704.91333634125
growth_capex_cash_oku: 1409.8266726825
total_capex_cash_oku: 2114.7400090237
company_fcf_pre_distributions_oku: 1373.1812798759
parent_declared_and_paid_dividends_oku: 1156.9780218654
nci_cash_dividends_oku: 117.65387022602
issuer_buyback_cash_oku: 161.17472386454
new_interest_bearing_borrowing_cash_oku: 570.92669611028
interest_bearing_debt_principal_repaid_cash_oku: 0
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 147572
company_parent_shares_bought_and_cancelled: 8778320
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1791.2725104413
buyback_execution_price_twd_proxy: 1836.0543232024
old_cohort_shares_tendered_proportionately: 8776987.2336631
old_cohort_ownership_end: 0.99984817523887
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 2930.4495348622
sbc_equity_paid_in_oku: 2.6434250112797
parent_dividends_oku: 1156.9780218654
issuer_repurchase_deduction_oku: 161.17472386454
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 382.87280354984
subsidiary_sbc_credit_to_nci_oku_proxy: 0.24671966771944
nci_dividends_oku: 117.65387022602
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）: 7589.3339275325
group_cash_oku: 2555.310844237
group_interest_bearing_debt_ex_lease_oku: 1553.6231400626
group_net_cash_ex_lease_oku: 1001.6877041744
非支配持分資本（億）: 1343.9699881932
issuer_economic_shares: 2574480081
old_holder_cohort_shares: 2574089211.1767
old_holder_fraction: 0.99984817523887
total_other_liabilities_and_leases_proxy_oku: 6024.0549020168
other_non_cash_assets_plug_proxy_oku: 13955.671113568
total_assets_plug_proxy_oku: 16510.981957805
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

17622.833408531

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.2415445
price_growth: 0.01944
annual_operating_margin_before_sbc: 0.241895

infrastructure

volume_growth: 0.289154
price_growth: 0.02268
annual_operating_margin_before_sbc: 0.2501725

automation

volume_growth: 0.11929
price_growth: 0.01377
annual_operating_margin_before_sbc: 0.0919375

mobility

volume_growth: 0.091503
price_growth: 0.01377
annual_operating_margin_before_sbc: 0.020435

noncapex_working_capital_ratio_on_incremental_revenue

0.17

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）: 7589.3339275325
group_cash_oku: 2555.310844237
group_interest_bearing_debt_ex_lease_oku: 1553.6231400626
非支配持分資本（億）: 1343.9699881932
issuer_economic_shares: 2574480081
old_holder_cohort_shares: 2574089211.1767
old_holder_fraction: 0.99984817523887

pnl

内容を開く

consolidated_sales_oku

21868.59280552

segments_sales_oku

内容を開く

power_components: 11617.572513544
infrastructure: 8554.8572187011
automation: 1125.7607067654
mobility: 553.9126620567

operating_profit_pre_sbc_oku

5023.1637055951

parent_share_sbc_expense_oku

3.2802889208281

subsidiary_share_sbc_expense_oku

0.30616029927729

ifrs_operating_profit_after_sbc_oku

5019.5772563749

net_nonoperating_income_oku

194.40522717093

ifrs_profit_before_tax_oku

5213.9824835459

income_tax_expense_oku

1110.5782689953

consolidated_profit_oku

4103.4042145506

parent_net_income_after_sbc_oku

3617.8347158288

nci_profit_oku

485.56949872182

税率

21.30%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 4391.1668353365
pnl_cash_bridge_oku: 4103.4042145506
depreciation_and_amortization_addback_oku: 1005.9552690539
parent_non_cash_sbc_addback_oku: 3.2802889208281
subsidiary_non_cash_sbc_addback_oku: 0.30616029927729
working_capital_investment_oku: 721.77909748819
maintenance_capex_cash_oku: 874.74371222082
growth_capex_cash_oku: 1662.0130532196
total_capex_cash_oku: 2536.7567654404
company_fcf_pre_distributions_oku: 1854.4100698961
parent_declared_and_paid_dividends_oku: 1465.2247674311
nci_cash_dividends_oku: 153.14912141993
issuer_buyback_cash_oku: 198.98091248716
new_interest_bearing_borrowing_cash_oku: 578.57984400557
interest_bearing_debt_principal_repaid_cash_oku: 0
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 164217
company_parent_shares_bought_and_cancelled: 9718354
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 1997.5370263284
buyback_execution_price_twd_proxy: 2047.4754519866
old_cohort_shares_tendered_proportionately: 9716258.747365
old_cohort_ownership_end: 0.99978440251969
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 3617.8347158288
sbc_equity_paid_in_oku: 3.2802889208281
parent_dividends_oku: 1465.2247674311
issuer_repurchase_deduction_oku: 198.98091248716
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 485.56949872182
subsidiary_sbc_credit_to_nci_oku_proxy: 0.30616029927729
nci_dividends_oku: 153.14912141993
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）: 9546.2432523639
group_cash_oku: 3170.9459568005
group_interest_bearing_debt_ex_lease_oku: 2132.2029840682
group_net_cash_ex_lease_oku: 1038.7429727323
非支配持分資本（億）: 1676.6965257943
issuer_economic_shares: 2564925944
old_holder_cohort_shares: 2564372952.4293
old_holder_fraction: 0.99978440251969
total_other_liabilities_and_leases_proxy_oku: 7006.6511125425
other_non_cash_assets_plug_proxy_oku: 17190.847917968
total_assets_plug_proxy_oku: 20361.793874769
assets_liabilities_equity_residual_oku: -1.82E-12

annual_run_rate

full_fiscal_year_sales_oku

21868.59280552

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.213589265
price_growth: 0.017496
annual_operating_margin_before_sbc: 0.23951075

infrastructure

volume_growth: 0.25369858
price_growth: 0.020412
annual_operating_margin_before_sbc: 0.247896625

automation

volume_growth: 0.1056533
price_growth: 0.012393
annual_operating_margin_before_sbc: 0.094646875

mobility

volume_growth: 0.08195731
price_growth: 0.012393
annual_operating_margin_before_sbc: 0.02411975

noncapex_working_capital_ratio_on_incremental_revenue

0.17

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）: 9546.2432523639
group_cash_oku: 3170.9459568005
group_interest_bearing_debt_ex_lease_oku: 2132.2029840682
非支配持分資本（億）: 1676.6965257943
issuer_economic_shares: 2564925944
old_holder_cohort_shares: 2564372952.4293
old_holder_fraction: 0.99978440251969

pnl

内容を開く

consolidated_sales_oku

26616.932025527

segments_sales_oku

内容を開く

power_components: 14066.956983319
infrastructure: 10684.399153145
automation: 1246.6314380246
mobility: 601.87760692861

operating_profit_pre_sbc_oku

6105.8996970418

parent_share_sbc_expense_oku

3.992539803829

subsidiary_share_sbc_expense_oku

0.37263704835737

ifrs_operating_profit_after_sbc_oku

6101.5345201896

net_nonoperating_income_oku

232.88219408452

ifrs_profit_before_tax_oku

6334.4167142742

income_tax_expense_oku

1349.2307601404

consolidated_profit_oku

4985.1859541338

parent_net_income_after_sbc_oku

4381.4245441331

nci_profit_oku

603.76141000065

税率

21.30%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 5406.7123367591
pnl_cash_bridge_oku: 4985.1859541338
depreciation_and_amortization_addback_oku: 1224.3788731742
parent_non_cash_sbc_addback_oku: 3.992539803829
subsidiary_non_cash_sbc_addback_oku: 0.37263704835737
working_capital_investment_oku: 807.21766740103
maintenance_capex_cash_oku: 1064.6772810211
growth_capex_cash_oku: 1916.4191058379
total_capex_cash_oku: 2981.096386859
company_fcf_pre_distributions_oku: 2425.6159499002
parent_declared_and_paid_dividends_oku: 1808.9173579144
nci_cash_dividends_oku: 194.22779948873
issuer_buyback_cash_oku: 240.97835471222
new_interest_bearing_borrowing_cash_oku: 507.01674911606
interest_bearing_debt_principal_repaid_cash_oku: 0
cash_end_reconciliation_residual_oku: 9.1E-13

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 180861
company_parent_shares_bought_and_cancelled: 10650001
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 2207.5193595342
buyback_execution_price_twd_proxy: 2262.7073435225
old_cohort_shares_tendered_proportionately: 10646954.136378
old_cohort_ownership_end: 0.99971390954588
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 4381.4245441331
sbc_equity_paid_in_oku: 3.992539803829
parent_dividends_oku: 1808.9173579144
issuer_repurchase_deduction_oku: 240.97835471222
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 603.76141000065
subsidiary_sbc_credit_to_nci_oku_proxy: 0.37263704835737
nci_dividends_oku: 194.22779948873
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）: 11881.764623674
group_cash_oku: 3859.4551437014
group_interest_bearing_debt_ex_lease_oku: 2639.2197331843
group_net_cash_ex_lease_oku: 1220.2354105171
非支配持分資本（億）: 2086.6027733546
issuer_economic_shares: 2554456804
old_holder_cohort_shares: 2553725998.2929
old_holder_fraction: 0.99971390954588
total_other_liabilities_and_leases_proxy_oku: 8039.8232850306
other_non_cash_assets_plug_proxy_oku: 20787.955271542
total_assets_plug_proxy_oku: 24647.410415244
assets_liabilities_equity_residual_oku: 1.82E-12

annual_run_rate

full_fiscal_year_sales_oku

26616.932025527

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.19206373405
price_growth: 0.0157464
annual_operating_margin_before_sbc: 0.2374841375

infrastructure

volume_growth: 0.2263979066
price_growth: 0.0183708
annual_operating_margin_before_sbc: 0.24596213125

automation

volume_growth: 0.095153041
price_growth: 0.0111537
annual_operating_margin_before_sbc: 0.09694984375

mobility

volume_growth: 0.0746071287
price_growth: 0.0111537
annual_operating_margin_before_sbc: 0.0272517875

noncapex_working_capital_ratio_on_incremental_revenue

0.17

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）: 11881.764623674
group_cash_oku: 3859.4551437014
group_interest_bearing_debt_ex_lease_oku: 2639.2197331843
非支配持分資本（億）: 2086.6027733546
issuer_economic_shares: 2554456804
old_holder_cohort_shares: 2553725998.2929
old_holder_fraction: 0.99971390954588

pnl

内容を開く

consolidated_sales_oku

31897.82258928

segments_sales_oku

内容を開く

power_components: 16769.892161836
infrastructure: 13091.655651157
automation: 1368.7766198114
mobility: 649.83397282306

operating_profit_pre_sbc_oku

7307.0411101119

parent_share_sbc_expense_oku

4.7846733883919

subsidiary_share_sbc_expense_oku

0.44656951624991

ifrs_operating_profit_after_sbc_oku

7301.8098672073

net_nonoperating_income_oku

278.16899954321

ifrs_profit_before_tax_oku

7579.9788667505

income_tax_expense_oku

1614.5354986179

consolidated_profit_oku

5965.4433681326

parent_net_income_after_sbc_oku

5226.3912175251

nci_profit_oku

739.05215060754

税率

21.30%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 6540.2230543061
pnl_cash_bridge_oku: 5965.4433681326
depreciation_and_amortization_addback_oku: 1467.2998391069
parent_non_cash_sbc_addback_oku: 4.7846733883919
subsidiary_non_cash_sbc_addback_oku: 0.44656951624991
working_capital_investment_oku: 897.75139583801
maintenance_capex_cash_oku: 1275.9129035712
growth_capex_cash_oku: 2169.051936071
total_capex_cash_oku: 3444.9648396422
company_fcf_pre_distributions_oku: 3095.2582146639
parent_declared_and_paid_dividends_oku: 2190.7122720666
nci_cash_dividends_oku: 241.50456400026
issuer_buyback_cash_oku: 287.45150916433
new_interest_bearing_borrowing_cash_oku: 390.1392623114
interest_bearing_debt_principal_repaid_cash_oku: 0
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 197529
company_parent_shares_bought_and_cancelled: 11577616
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 2422.2646246489
buyback_execution_price_twd_proxy: 2482.8212402651
old_cohort_shares_tendered_proportionately: 11573408.815248
old_cohort_ownership_end: 0.99963661044272
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 5226.3912175251
sbc_equity_paid_in_oku: 4.7846733883919
parent_dividends_oku: 2190.7122720666
issuer_repurchase_deduction_oku: 287.45150916433
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 739.05215060754
subsidiary_sbc_credit_to_nci_oku_proxy: 0.44656951624991
nci_dividends_oku: 241.50456400026
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）: 14634.776733357
group_cash_oku: 4625.1842754455
group_interest_bearing_debt_ex_lease_oku: 3029.3589954957
group_net_cash_ex_lease_oku: 1595.8252799499
非支配持分資本（億）: 2584.5969294781
issuer_economic_shares: 2543076717
old_holder_cohort_shares: 2542152589.4777
old_holder_fraction: 0.99963661044272
total_other_liabilities_and_leases_proxy_oku: 9125.7513847275
other_non_cash_assets_plug_proxy_oku: 24749.299767613
total_assets_plug_proxy_oku: 29374.484043058
assets_liabilities_equity_residual_oku: -1.82E-12

annual_run_rate

full_fiscal_year_sales_oku

31897.82258928

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.1754890752185
price_growth: 0.01417176
annual_operating_margin_before_sbc: 0.235761516875

infrastructure

volume_growth: 0.205376388082
price_growth: 0.01653372
annual_operating_margin_before_sbc: 0.2443178115625

automation

volume_growth: 0.08706784157
price_growth: 0.01003833
annual_operating_margin_before_sbc: 0.0989073671875

mobility

volume_growth: 0.068947489099
price_growth: 0.01003833
annual_operating_margin_before_sbc: 0.029914019375

noncapex_working_capital_ratio_on_incremental_revenue

0.17

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）: 14634.776733357
group_cash_oku: 4625.1842754455
group_interest_bearing_debt_ex_lease_oku: 3029.3589954957
非支配持分資本（億）: 2584.5969294781
issuer_economic_shares: 2543076717
old_holder_cohort_shares: 2542152589.4777
old_holder_fraction: 0.99963661044272

pnl

内容を開く

consolidated_sales_oku

37756.762863724

segments_sales_oku

内容を開く

power_components: 19747.498569122
infrastructure: 15800.127768264
automation: 1492.7975053084
mobility: 698.05659094885

operating_profit_pre_sbc_oku

8637.5484706339

parent_share_sbc_expense_oku

5.6635144295586

subsidiary_share_sbc_expense_oku

0.52859468009214

ifrs_operating_profit_after_sbc_oku

8631.3563615242

net_nonoperating_income_oku

331.53424660905

ifrs_profit_before_tax_oku

8962.8906081333

income_tax_expense_oku

1909.0956995324

consolidated_profit_oku

7053.7949086009

parent_net_income_after_sbc_oku

6160.3142201781

nci_profit_oku

893.48068842278

税率

21.30%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 7800.7782627863
pnl_cash_bridge_oku: 7053.7949086009
depreciation_and_amortization_addback_oku: 1736.8110917313
parent_non_cash_sbc_addback_oku: 5.6635144295586
subsidiary_non_cash_sbc_addback_oku: 0.52859468009214
working_capital_investment_oku: 996.01984665556
maintenance_capex_cash_oku: 1510.270514549
growth_capex_cash_oku: 2416.4328232783
total_capex_cash_oku: 3926.7033378273
company_fcf_pre_distributions_oku: 3874.074924959
parent_declared_and_paid_dividends_oku: 2613.1956087625
nci_cash_dividends_oku: 295.62086024302
issuer_buyback_cash_oku: 338.8172702195
new_interest_bearing_borrowing_cash_oku: 223.10515406053
interest_bearing_debt_principal_repaid_cash_oku: 0
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 214281
company_parent_shares_bought_and_cancelled: 12506629
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 2643.0258254282
buyback_execution_price_twd_proxy: 2709.1014710639
old_cohort_shares_tendered_proportionately: 12501030.878098
old_cohort_ownership_end: 0.99955238762563
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 6160.3142201781
sbc_equity_paid_in_oku: 5.6635144295586
parent_dividends_oku: 2613.1956087625
issuer_repurchase_deduction_oku: 338.8172702195
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 893.48068842278
subsidiary_sbc_credit_to_nci_oku_proxy: 0.52859468009214
nci_dividends_oku: 295.62086024302
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）: 17848.741588982
group_cash_oku: 5474.73061524
group_interest_bearing_debt_ex_lease_oku: 3252.4641495562
group_net_cash_ex_lease_oku: 2222.2664656838
非支配持分資本（億）: 3182.985352338
issuer_economic_shares: 2530784369
old_holder_cohort_shares: 2529651558.5996
old_holder_fraction: 0.99955238762563
total_other_liabilities_and_leases_proxy_oku: 10269.096448896
other_non_cash_assets_plug_proxy_oku: 29078.556924533
total_assets_plug_proxy_oku: 34553.287539773
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

37756.762863724

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.16272658791825
price_growth: 0.012754584
annual_operating_margin_before_sbc: 0.23429728934375

infrastructure

volume_growth: 0.18918981882314
price_growth: 0.014880348
annual_operating_margin_before_sbc: 0.24292013982812

automation

volume_growth: 0.0808422380089
price_growth: 0.009034497
annual_operating_margin_before_sbc: 0.10057126210938

mobility

volume_growth: 0.06458956660623
price_growth: 0.009034497
annual_operating_margin_before_sbc: 0.03217691646875

noncapex_working_capital_ratio_on_incremental_revenue

0.17

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）: 17848.741588982
group_cash_oku: 5474.73061524
group_interest_bearing_debt_ex_lease_oku: 3252.4641495562
非支配持分資本（億）: 3182.985352338
issuer_economic_shares: 2530784369
old_holder_cohort_shares: 2529651558.5996
old_holder_fraction: 0.99955238762563

pnl

内容を開く

consolidated_sales_oku

44254.774622084

segments_sales_oku

内容を開く

power_components: 23028.224570358
infrastructure: 18841.419245185
automation: 1619.3836357658
mobility: 746.82485564162

operating_profit_pre_sbc_oku

10111.986793525

parent_share_sbc_expense_oku

6.6382161933126

subsidiary_share_sbc_expense_oku

0.61956684470917

ifrs_operating_profit_after_sbc_oku

10104.729010487

net_nonoperating_income_oku

394.49592305914

ifrs_profit_before_tax_oku

10499.224933547

income_tax_expense_oku

2236.3349108454

consolidated_profit_oku

8262.8900227011

parent_net_income_after_sbc_oku

7193.304814207

nci_profit_oku

1069.5852084941

税率

21.30%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 9201.2054394338
pnl_cash_bridge_oku: 8262.8900227011
depreciation_and_amortization_addback_oku: 2035.7196326159
parent_non_cash_sbc_addback_oku: 6.6382161933126
subsidiary_non_cash_sbc_addback_oku: 0.61956684470917
working_capital_investment_oku: 1104.6619989212
maintenance_capex_cash_oku: 1770.1909848834
growth_capex_cash_oku: 2655.286477325
total_capex_cash_oku: 4425.4774622084
company_fcf_pre_distributions_oku: 4775.7279772254
parent_declared_and_paid_dividends_oku: 3080.1571100891
nci_cash_dividends_oku: 357.39227536911
issuer_buyback_cash_oku: 395.63175442984
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 0.07372912255649
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 231199
company_parent_shares_bought_and_cancelled: 13443163
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 2871.2156465242
buyback_execution_price_twd_proxy: 2942.9960376873
old_cohort_shares_tendered_proportionately: 13435918.239859
old_cohort_ownership_end: 0.99946108217679
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 7193.304814207
sbc_equity_paid_in_oku: 6.6382161933126
parent_dividends_oku: 3080.1571100891
issuer_repurchase_deduction_oku: 395.63175442984
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 1069.5852084941
subsidiary_sbc_credit_to_nci_oku_proxy: 0.61956684470917
nci_dividends_oku: 357.39227536911
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）: 21572.895754864
group_cash_oku: 6417.2037234549
group_interest_bearing_debt_ex_lease_oku: 3252.3904204336
group_net_cash_ex_lease_oku: 3164.8133030212
非支配持分資本（億）: 3895.7978523077
issuer_economic_shares: 2517572405
old_holder_cohort_shares: 2516215640.3597
old_holder_fraction: 0.99946108217679
total_other_liabilities_and_leases_proxy_oku: 11476.461380381
other_non_cash_assets_plug_proxy_oku: 33780.341684532
total_assets_plug_proxy_oku: 40197.545407986
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

44254.774622084

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.15289947269705
price_growth: 0.0114791256
annual_operating_margin_before_sbc: 0.23305269594219

infrastructure

volume_growth: 0.17672616049382
price_growth: 0.0133923132
annual_operating_margin_before_sbc: 0.24173211885391

automation

volume_growth: 0.07604852326685
price_growth: 0.0081310473
annual_operating_margin_before_sbc: 0.10198557279297

mobility

volume_growth: 0.0612339662868
price_growth: 0.0081310473
annual_operating_margin_before_sbc: 0.03410037899844

noncapex_working_capital_ratio_on_incremental_revenue

0.17

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）: 21572.895754864
group_cash_oku: 6417.2037234549
group_interest_bearing_debt_ex_lease_oku: 3252.3904204336
非支配持分資本（億）: 3895.7978523077
issuer_economic_shares: 2517572405
old_holder_cohort_shares: 2516215640.3597
old_holder_fraction: 0.99946108217679

pnl

内容を開く

consolidated_sales_oku

51468.145510188

segments_sales_oku

内容を開く

power_components: 26647.461679706
infrastructure: 22255.421231715
automation: 1749.2659966571
mobility: 796.41200594713

operating_profit_pre_sbc_oku

11748.411365921

parent_share_sbc_expense_oku

7.7202218265281

subsidiary_share_sbc_expense_oku

0.72055403714263

ifrs_operating_profit_after_sbc_oku

11739.970590058

net_nonoperating_income_oku

468.84231925843

ifrs_profit_before_tax_oku

12208.812909316

income_tax_expense_oku

2600.4771496843

consolidated_profit_oku

9608.3357596318

parent_net_income_after_sbc_oku

8337.9002536361

nci_profit_oku

1270.4355059958

税率

21.30%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 10758.038177986
pnl_cash_bridge_oku: 9608.3357596318
depreciation_and_amortization_addback_oku: 2367.5346934686
parent_non_cash_sbc_addback_oku: 7.7202218265281
subsidiary_non_cash_sbc_addback_oku: 0.72055403714263
working_capital_investment_oku: 1226.2730509776
maintenance_capex_cash_oku: 2058.7258204075
growth_capex_cash_oku: 2882.2161485705
total_capex_cash_oku: 4940.941968978
company_fcf_pre_distributions_oku: 5817.0962090085
parent_declared_and_paid_dividends_oku: 3596.6524071035
nci_cash_dividends_oku: 427.83408339763
issuer_buyback_cash_oku: 458.58452112829
new_interest_bearing_borrowing_cash_oku: 0
interest_bearing_debt_principal_repaid_cash_oku: 63.436520808471
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 248372
company_parent_shares_bought_and_cancelled: 14393555
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 3108.3323946592
buyback_execution_price_twd_proxy: 3186.0407045257
old_cohort_shares_tendered_proportionately: 14384378.960655
old_cohort_ownership_end: 0.99936248971534
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 8337.9002536361
sbc_equity_paid_in_oku: 7.7202218265281
parent_dividends_oku: 3596.6524071035
issuer_repurchase_deduction_oku: 458.58452112829
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 1270.4355059958
subsidiary_sbc_credit_to_nci_oku_proxy: 0.72055403714263
nci_dividends_oku: 427.83408339763
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）: 25863.279302095
group_cash_oku: 7687.7924000254
group_interest_bearing_debt_ex_lease_oku: 3188.9538996252
group_net_cash_ex_lease_oku: 4498.8385004003
非支配持分資本（億）: 4739.1198289429
issuer_economic_shares: 2503427222
old_holder_cohort_shares: 2501831261.3991
old_holder_fraction: 0.99936248971534
total_other_liabilities_and_leases_proxy_oku: 12755.951822891
other_non_cash_assets_plug_proxy_oku: 38859.512453528
total_assets_plug_proxy_oku: 46547.304853554
assets_liabilities_equity_residual_oku: 0

annual_run_rate

full_fiscal_year_sales_oku

51468.145510188

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.14533259397673
price_growth: 0.01033121304
annual_operating_margin_before_sbc: 0.23199479155086

infrastructure

volume_growth: 0.16712914358024
price_growth: 0.01205308188
annual_operating_margin_before_sbc: 0.24072230102582

automation

volume_growth: 0.07235736291548
price_growth: 0.00731794257
annual_operating_margin_before_sbc: 0.10318773687402

mobility

volume_growth: 0.05865015404083
price_growth: 0.00731794257
annual_operating_margin_before_sbc: 0.03573532214867

noncapex_working_capital_ratio_on_incremental_revenue

0.17

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）: 25863.279302095
group_cash_oku: 7687.7924000254
group_interest_bearing_debt_ex_lease_oku: 3188.9538996252
非支配持分資本（億）: 4739.1198289429
issuer_economic_shares: 2503427222
old_holder_cohort_shares: 2501831261.3991
old_holder_fraction: 0.99936248971534

pnl

内容を開く

consolidated_sales_oku

50548.797372774

segments_sales_oku

内容を開く

power_components: 26041.81536773
infrastructure: 22169.776157049
automation: 1600.1955423791
mobility: 719.78629540859

operating_profit_pre_sbc_oku

11529.356232362

parent_share_sbc_expense_oku

7.5823196059161

subsidiary_share_sbc_expense_oku

0.70768316321883

ifrs_operating_profit_after_sbc_oku

11521.066229592

net_nonoperating_income_oku

471.48909557348

ifrs_profit_before_tax_oku

11992.555325166

income_tax_expense_oku

2554.4142842603

consolidated_profit_oku

9438.1410409056

parent_net_income_after_sbc_oku

8163.9920003833

nci_profit_oku

1274.1490405223

税率

21.30%

reported_vs_projected

forecast_only

cashflows_group

内容を開く

operating_cash_flow_proxy_oku: 10613.13659875
pnl_cash_bridge_oku: 9438.1410409056
depreciation_and_amortization_addback_oku: 2325.2446791476
parent_non_cash_sbc_addback_oku: 7.5823196059161
subsidiary_non_cash_sbc_addback_oku: 0.70768316321883
working_capital_investment_oku: 1158.5391240721
maintenance_capex_cash_oku: 2021.951894911
growth_capex_cash_oku: 2628.5374633842
total_capex_cash_oku: 4650.4893582952
company_fcf_pre_distributions_oku: 5962.647240455
parent_declared_and_paid_dividends_oku: 4168.950126818
nci_cash_dividends_oku: 508.17420239831
issuer_buyback_cash_oku: 449.01956632491
new_interest_bearing_borrowing_cash_oku: 101.50707362385
interest_bearing_debt_principal_repaid_cash_oku: 0
cash_end_reconciliation_residual_oku: 0

ordinary_shares

内容を開く

company_parent_shares_awarded_free: 225952
company_parent_shares_bought_and_cancelled: 13054381
subsidiary_stock_options_excluded_from_parent_share_number: はい
award_execution_price_twd_proxy: 3355.7153693099
buyback_execution_price_twd_proxy: 3439.6082535427
old_cohort_shares_tendered_proportionately: 13044881.305119
old_cohort_ownership_end: 0.99927229832796
treasury_shares_end_assumed: 0

equity_rollforward

内容を開く

parent_net_income_oku: 8163.9920003833
sbc_equity_paid_in_oku: 7.5823196059161
parent_dividends_oku: 4168.950126818
issuer_repurchase_deduction_oku: 449.01956632491
oci_oku_assumed: 0
paid_new_issues_oku_assumed: 0
parent_equity_end_reconciliation_residual_oku: 0
nci_profit_oku: 1274.1490405223
subsidiary_sbc_credit_to_nci_oku_proxy: 0.70768316321883
nci_dividends_oku: 508.17420239831
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）: 29416.883928941
group_cash_oku: 8625.8028185631
group_interest_bearing_debt_ex_lease_oku: 3290.460973249
group_net_cash_ex_lease_oku: 5335.3418453141
非支配持分資本（億）: 5505.8023502301
issuer_economic_shares: 2490598793
old_holder_cohort_shares: 2488786380.0939
old_holder_fraction: 0.99927229832796
total_other_liabilities_and_leases_proxy_oku: 14116.85561983
other_non_cash_assets_plug_proxy_oku: 43704.200053687
total_assets_plug_proxy_oku: 52330.00287225
assets_liabilities_equity_residual_oku: 3.64E-12

annual_run_rate

full_fiscal_year_sales_oku

59488.295300435

segment_vol_price_margin_assumptions

内容を開く

power_components

volume_growth: 0.13950609736208
price_growth: 0.009298091736
annual_operating_margin_before_sbc: 0.23109557281823

infrastructure

volume_growth: 0.15973944055678
price_growth: 0.010847773692
annual_operating_margin_before_sbc: 0.23986395587195

automation

volume_growth: 0.06951516944492
price_growth: 0.006586148313
annual_operating_margin_before_sbc: 0.10420957634292

mobility

volume_growth: 0.05666061861144
price_growth: 0.006586148313
annual_operating_margin_before_sbc: 0.03712502382637

noncapex_working_capital_ratio_on_incremental_revenue

0.17

forecast_full_fiscal_year_runrates

内容を開く

2028

内容を開く

full_year_annual_sales_oku

10590.005919711

full_year_annual_segment_sales_oku

内容を開く

power_components: 5694.1149881099
infrastructure: 3705.4809925807
automation: 767.78756878257
mobility: 407.74960158824

full_year_annual_parent_net_income_oku

1770.1706929306

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.325
price_growth: 0.024
annual_operating_margin_before_sbc: 0.248

infrastructure

volume_growth: 0.395
price_growth: 0.028
annual_operating_margin_before_sbc: 0.256

automation

volume_growth: 0.16
price_growth: 0.017
annual_operating_margin_before_sbc: 0.085

mobility

volume_growth: 0.12
price_growth: 0.017
annual_operating_margin_before_sbc: 0.011

2029

内容を開く

full_year_annual_sales_oku

13864.353814508

full_year_annual_segment_sales_oku

内容を開く

power_components: 7433.3912940475
infrastructure: 5072.2366884703
automation: 886.33097503109
mobility: 457.00154140672

full_year_annual_parent_net_income_oku

2313.9560437309

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.27785
price_growth: 0.0216
annual_operating_margin_before_sbc: 0.2447

infrastructure

volume_growth: 0.3352
price_growth: 0.0252
annual_operating_margin_before_sbc: 0.25285

automation

volume_growth: 0.137
price_growth: 0.0153
annual_operating_margin_before_sbc: 0.08875

mobility

volume_growth: 0.1039
price_growth: 0.0153
annual_operating_margin_before_sbc: 0.0161

2030

内容を開く

full_year_annual_sales_oku

17622.833408531

full_year_annual_segment_sales_oku

内容を開く

power_components: 9408.2956228186
infrastructure: 6687.1963367046
automation: 1005.7220824798
mobility: 505.68728493107

full_year_annual_parent_net_income_oku

2930.4495348622

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.2415445
price_growth: 0.01944
annual_operating_margin_before_sbc: 0.241895

infrastructure

volume_growth: 0.289154
price_growth: 0.02268
annual_operating_margin_before_sbc: 0.2501725

automation

volume_growth: 0.11929
price_growth: 0.01377
annual_operating_margin_before_sbc: 0.0919375

mobility

volume_growth: 0.091503
price_growth: 0.01377
annual_operating_margin_before_sbc: 0.020435

2031

内容を開く

full_year_annual_sales_oku

21868.59280552

full_year_annual_segment_sales_oku

内容を開く

power_components: 11617.572513544
infrastructure: 8554.8572187011
automation: 1125.7607067654
mobility: 553.9126620567

full_year_annual_parent_net_income_oku

3617.8347158288

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.213589265
price_growth: 0.017496
annual_operating_margin_before_sbc: 0.23951075

infrastructure

volume_growth: 0.25369858
price_growth: 0.020412
annual_operating_margin_before_sbc: 0.247896625

automation

volume_growth: 0.1056533
price_growth: 0.012393
annual_operating_margin_before_sbc: 0.094646875

mobility

volume_growth: 0.08195731
price_growth: 0.012393
annual_operating_margin_before_sbc: 0.02411975

2032

内容を開く

full_year_annual_sales_oku

26616.932025527

full_year_annual_segment_sales_oku

内容を開く

power_components: 14066.956983319
infrastructure: 10684.399153145
automation: 1246.6314380246
mobility: 601.87760692861

full_year_annual_parent_net_income_oku

4381.4245441331

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.19206373405
price_growth: 0.0157464
annual_operating_margin_before_sbc: 0.2374841375

infrastructure

volume_growth: 0.2263979066
price_growth: 0.0183708
annual_operating_margin_before_sbc: 0.24596213125

automation

volume_growth: 0.095153041
price_growth: 0.0111537
annual_operating_margin_before_sbc: 0.09694984375

mobility

volume_growth: 0.0746071287
price_growth: 0.0111537
annual_operating_margin_before_sbc: 0.0272517875

2033

内容を開く

full_year_annual_sales_oku

31897.82258928

full_year_annual_segment_sales_oku

内容を開く

power_components: 16769.892161836
infrastructure: 13091.655651157
automation: 1368.7766198114
mobility: 649.83397282306

full_year_annual_parent_net_income_oku

5226.3912175251

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.1754890752185
price_growth: 0.01417176
annual_operating_margin_before_sbc: 0.235761516875

infrastructure

volume_growth: 0.205376388082
price_growth: 0.01653372
annual_operating_margin_before_sbc: 0.2443178115625

automation

volume_growth: 0.08706784157
price_growth: 0.01003833
annual_operating_margin_before_sbc: 0.0989073671875

mobility

volume_growth: 0.068947489099
price_growth: 0.01003833
annual_operating_margin_before_sbc: 0.029914019375

2034

内容を開く

full_year_annual_sales_oku

37756.762863724

full_year_annual_segment_sales_oku

内容を開く

power_components: 19747.498569122
infrastructure: 15800.127768264
automation: 1492.7975053084
mobility: 698.05659094885

full_year_annual_parent_net_income_oku

6160.3142201781

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.16272658791825
price_growth: 0.012754584
annual_operating_margin_before_sbc: 0.23429728934375

infrastructure

volume_growth: 0.18918981882314
price_growth: 0.014880348
annual_operating_margin_before_sbc: 0.24292013982812

automation

volume_growth: 0.0808422380089
price_growth: 0.009034497
annual_operating_margin_before_sbc: 0.10057126210938

mobility

volume_growth: 0.06458956660623
price_growth: 0.009034497
annual_operating_margin_before_sbc: 0.03217691646875

2035

内容を開く

full_year_annual_sales_oku

44254.774622084

full_year_annual_segment_sales_oku

内容を開く

power_components: 23028.224570358
infrastructure: 18841.419245185
automation: 1619.3836357658
mobility: 746.82485564162

full_year_annual_parent_net_income_oku

7193.304814207

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.15289947269705
price_growth: 0.0114791256
annual_operating_margin_before_sbc: 0.23305269594219

infrastructure

volume_growth: 0.17672616049382
price_growth: 0.0133923132
annual_operating_margin_before_sbc: 0.24173211885391

automation

volume_growth: 0.07604852326685
price_growth: 0.0081310473
annual_operating_margin_before_sbc: 0.10198557279297

mobility

volume_growth: 0.0612339662868
price_growth: 0.0081310473
annual_operating_margin_before_sbc: 0.03410037899844

2036

内容を開く

full_year_annual_sales_oku

51468.145510188

full_year_annual_segment_sales_oku

内容を開く

power_components: 26647.461679706
infrastructure: 22255.421231715
automation: 1749.2659966571
mobility: 796.41200594713

full_year_annual_parent_net_income_oku

8337.9002536361

period_realized_fraction

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.14533259397673
price_growth: 0.01033121304
annual_operating_margin_before_sbc: 0.23199479155086

infrastructure

volume_growth: 0.16712914358024
price_growth: 0.01205308188
annual_operating_margin_before_sbc: 0.24072230102582

automation

volume_growth: 0.07235736291548
price_growth: 0.00731794257
annual_operating_margin_before_sbc: 0.10318773687402

mobility

volume_growth: 0.05865015404083
price_growth: 0.00731794257
annual_operating_margin_before_sbc: 0.03573532214867

2037

内容を開く

full_year_annual_sales_oku

59488.295300435

full_year_annual_segment_sales_oku

内容を開く

power_components: 30647.281108004
infrastructure: 26090.476120514
automation: 1883.1883231857
mobility: 847.07969170271

full_year_annual_parent_net_income_oku

9607.7847978788

period_realized_fraction

0.84972677595628

forecast_annual_unit_price

内容を開く

power_components

volume_growth: 0.13950609736208
price_growth: 0.009298091736
annual_operating_margin_before_sbc: 0.23109557281823

infrastructure

volume_growth: 0.15973944055678
price_growth: 0.010847773692
annual_operating_margin_before_sbc: 0.23986395587195

automation

volume_growth: 0.06951516944492
price_growth: 0.006586148313
annual_operating_margin_before_sbc: 0.10420957634292

mobility

volume_growth: 0.05666061861144
price_growth: 0.006586148313
annual_operating_margin_before_sbc: 0.03712502382637

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: 208.68188004783
2026_full_FY_parent_income_actual_plus_proxy_plus_forecast_oku: 1012.3926184311
2026_FY_revenue_actual_plus_proxy_plus_forecast_oku: 7803.8014469565
first_partial_55_92_of_Q4: 0.59782608695652
last_partial_311_366_of_FY2036: 0.84972677595628

scenario_drivers

内容を開く

prob

8.00%

q4_sales_mult

1.12

q4_margin_shift

0.023

tax

0.213

nci_low

0.11

nci_up

0.135

nonop

0.009

growth

内容を開く

power_components

1: 0.325
2: 0.12

infrastructure

1: 0.395
2: 0.135

automation

1: 0.16
2: 0.06

mobility

1: 0.12
2: 0.05

prices

内容を開く

power_components: 0.024
infrastructure: 0.028
automation: 0.017
mobility: 0.017

margin_begin

内容を開く

power_components: 0.248
infrastructure: 0.256
automation: 0.085
mobility: 0.011

margin_end

内容を開く

power_components: 0.226
infrastructure: 0.235
automation: 0.11
mobility: 0.045

capex_begin

0.128

capex_end

0.092

0.17

payout

0.5

buyback

0.055

nci_div

0.4

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

29416.883928941

2036_full_fiscal_year_parent_profit_proxy_oku

9607.7847978788

2037_full_fiscal_year_parent_profit_proxy_oku

10126.605176964

next12mo_2036_Nov07_to_Dec31_days

next12mo_2037_Jan01_to_Nov06_days

310

next12mo_NI_from_2036_FY_and_2037_FY_proxy_oku

10044.471166972

next12mo_roe

0.34145258863023

end_18_year_book_equity_oku

56986.445884005

book_equity_mature_value_after_year18_oku

56986.445884005

mature_year19_extra_sbc_buyback_over_grant_value_oku

1.1539755291511

mature_cash_FCFE_capital_growth_rate

0.025

perpetuity_extra_sbc_repurchase_cost_capitalized_at_year18_oku

17.753469679248

mature_year18_continuation_value_oku

56968.692414326

finite_18_year_cash_FCFE_PV_oku

63111.440341929

tail_PV_oku

12077.006176386

company_parent_equity_valuation_DCF_oku

75188.446518314

company_parent_equity_valuation_RI_crosscheck_oku

75188.446518315

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: 29416.883928941
sustainable_roe: 0.34145258863023
parent_ni_after_sbc_oku: 10044.471166972
required_book_reinvestment_oku: 1529.6779643049
book_growth_rate: 0.052
employee_sbc_expense_already_in_ni_oku: 15.066706750458
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 17.326712763027
repurchase_minus_sbc_addback_oku: 2.2600060125687
sustainable_distributable_to_parent_common_cash_oku: 8512.5331966544
end_book_equity_oku: 30946.561893246
residual_profit_after_capital_charge_oku: 7394.6916073546
present_value_owner_fcfe_oku: 7809.6634831692

内容を開く

forward_year: 2038
years_after_exit: 2
start_book_equity_oku: 30946.561893246
sustainable_roe: 0.32352576619702
parent_ni_after_sbc_oku: 10012.010147676
required_book_reinvestment_oku: 1551.5358397636
book_growth_rate: 0.05013596809609
employee_sbc_expense_already_in_ni_oku: 15.018015221514
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 17.270717504741
repurchase_minus_sbc_addback_oku: 2.2527022832271
sustainable_distributable_to_parent_common_cash_oku: 8458.2216056292
end_book_equity_oku: 32498.097733009
residual_profit_after_capital_charge_oku: 7224.5668750006
present_value_owner_fcfe_oku: 7119.1159040731

内容を開く

forward_year: 2039
years_after_exit: 3
start_book_equity_oku: 32498.097733009
sustainable_roe: 0.30584389174094
parent_ni_after_sbc_oku: 9939.344684841
required_book_reinvestment_oku: 1569.4241776333
book_growth_rate: 0.04829280133647
employee_sbc_expense_already_in_ni_oku: 14.909017027261
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 17.145369581351
repurchase_minus_sbc_addback_oku: 2.2363525540892
sustainable_distributable_to_parent_common_cash_oku: 8367.6841546536
end_book_equity_oku: 34067.521910643
residual_profit_after_capital_charge_oku: 7012.279536316
present_value_owner_fcfe_oku: 6461.3874705922

内容を開く

forward_year: 2040
years_after_exit: 4
start_book_equity_oku: 34067.521910643
sustainable_roe: 0.28841962767242
parent_ni_after_sbc_oku: 9825.7419851895
required_book_reinvestment_oku: 1583.1734488537
book_growth_rate: 0.04647163515463
employee_sbc_expense_already_in_ni_oku: 14.738612977784
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 16.949404924452
repurchase_minus_sbc_addback_oku: 2.2107919466676
sustainable_distributable_to_parent_common_cash_oku: 8240.3577443891
end_book_equity_oku: 35650.695359496
residual_profit_after_capital_charge_oku: 6757.454221285
present_value_owner_fcfe_oku: 5837.6771743216

内容を開く

forward_year: 2041
years_after_exit: 5
start_book_equity_oku: 35650.695359496
sustainable_roe: 0.27126723769386
parent_ni_after_sbc_oku: 9670.8656520359
required_book_reinvestment_oku: 1592.6503233145
book_growth_rate: 0.04467375200552
employee_sbc_expense_already_in_ni_oku: 14.506298478054
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 16.682243249762
repurchase_minus_sbc_addback_oku: 2.1759447717081
sustainable_distributable_to_parent_common_cash_oku: 8076.0393839497
end_book_equity_oku: 37243.345682811
residual_profit_after_capital_charge_oku: 6460.1271249095
present_value_owner_fcfe_oku: 5248.8714726105

内容を開く

forward_year: 2042
years_after_exit: 6
start_book_equity_oku: 37243.345682811
sustainable_roe: 0.25440292761962
parent_ni_after_sbc_oku: 9474.8161760568
required_book_reinvestment_oku: 1597.7623657619
book_growth_rate: 0.04290061315569
employee_sbc_expense_already_in_ni_oku: 14.212224264085
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 16.344057903698
repurchase_minus_sbc_addback_oku: 2.1318336396128
sustainable_distributable_to_parent_common_cash_oku: 7874.9219766553
end_book_equity_oku: 38841.108048573
residual_profit_after_capital_charge_oku: 6120.7832309642
present_value_owner_fcfe_oku: 4695.5586764026

内容を開く

forward_year: 2043
years_after_exit: 7
start_book_equity_oku: 38841.108048573
sustainable_roe: 0.23784529314346
parent_ni_after_sbc_oku: 9238.1747298295
required_book_reinvestment_oku: 1598.4630986914
book_growth_rate: 0.04115390057082
employee_sbc_expense_already_in_ni_oku: 13.857262094744
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 15.935851408956
repurchase_minus_sbc_addback_oku: 2.0785893142116
sustainable_distributable_to_parent_common_cash_oku: 7637.6330418239
end_book_equity_oku: 40439.571147264
residual_profit_after_capital_charge_oku: 5740.3964161437
present_value_owner_fcfe_oku: 4178.0468234245

内容を開く

forward_year: 2044
years_after_exit: 8
start_book_equity_oku: 40439.571147264
sustainable_roe: 0.22161592090304
parent_ni_after_sbc_oku: 8962.0528007249
required_book_reinvestment_oku: 1594.7576730488
book_growth_rate: 0.03943557332103
employee_sbc_expense_already_in_ni_oku: 13.443079201087
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 15.45954108125
repurchase_minus_sbc_addback_oku: 2.0164618801631
sustainable_distributable_to_parent_common_cash_oku: 7365.2786657959
end_book_equity_oku: 42034.328820313
residual_profit_after_capital_charge_oku: 5320.4749355909
present_value_owner_fcfe_oku: 3696.3850027562

内容を開く

forward_year: 2045
years_after_exit: 9
start_book_equity_oku: 42034.328820313
sustainable_roe: 0.20574021595159
parent_ni_after_sbc_oku: 8648.1518888712
required_book_reinvestment_oku: 1586.7095533896
book_growth_rate: 0.03774794549884
employee_sbc_expense_already_in_ni_oku: 12.972227833307
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 14.918062008303
repurchase_minus_sbc_addback_oku: 1.945834174996
sustainable_distributable_to_parent_common_cash_oku: 7059.4965013066
end_book_equity_oku: 43621.038373703
residual_profit_after_capital_charge_oku: 4863.116460868
present_value_owner_fcfe_oku: 3250.3882985997

内容を開く

forward_year: 2046
years_after_exit: 10
start_book_equity_oku: 43621.038373703
sustainable_roe: 0.1902485756872
parent_ni_after_sbc_oku: 8298.8404205938
required_book_reinvestment_oku: 1574.4489116907
book_growth_rate: 0.03609379717654
employee_sbc_expense_already_in_ni_oku: 12.448260630891
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 14.315499725524
repurchase_minus_sbc_addback_oku: 1.8672390946336
sustainable_distributable_to_parent_common_cash_oku: 6722.5242698085
end_book_equity_oku: 45195.487285393
residual_profit_after_capital_charge_oku: 4371.0797278659
present_value_owner_fcfe_oku: 2839.6669011857

内容を開く

forward_year: 2047
years_after_exit: 11
start_book_equity_oku: 45195.487285393
sustainable_roe: 0.17517811711519
parent_ni_after_sbc_oku: 7917.2603647588
required_book_reinvestment_oku: 1558.1839503311
book_growth_rate: 0.03447653834312
employee_sbc_expense_already_in_ni_oku: 11.875890547138
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 13.657274129209
repurchase_minus_sbc_addback_oku: 1.7813835820707
sustainable_distributable_to_parent_common_cash_oku: 6357.2950308457
end_book_equity_oku: 46753.671235724
residual_profit_after_capital_charge_oku: 3847.8851254914
present_value_owner_fcfe_oku: 2463.6606639023

内容を開く

forward_year: 2048
years_after_exit: 12
start_book_equity_oku: 46753.671235724
sustainable_roe: 0.16057533565169
parent_ni_after_sbc_oku: 7507.4864516254
required_book_reinvestment_oku: 1538.2174041418
book_growth_rate: 0.03290046243398
employee_sbc_expense_already_in_ni_oku: 11.261229677438
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 12.950414129054
repurchase_minus_sbc_addback_oku: 1.6891844516157
sustainable_distributable_to_parent_common_cash_oku: 5967.579863032
end_book_equity_oku: 48291.888639866
residual_profit_after_capital_charge_oku: 3297.9668559586
present_value_owner_fcfe_oku: 2121.6818661374

内容を開く

forward_year: 2049
years_after_exit: 13
start_book_equity_oku: 48291.888639866
sustainable_roe: 0.14650044028614
parent_ni_after_sbc_oku: 7074.7829479895
required_book_reinvestment_oku: 1514.9726575489
book_growth_rate: 0.03137116191182
employee_sbc_expense_already_in_ni_oku: 10.612174421984
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 12.204000585282
repurchase_minus_sbc_addback_oku: 1.5918261632976
sustainable_distributable_to_parent_common_cash_oku: 5558.2184642773
end_book_equity_oku: 49806.861297415
residual_profit_after_capital_charge_oku: 2726.9211442382
present_value_owner_fcfe_oku: 1812.9721777643

内容を開く

forward_year: 2050
years_after_exit: 14
start_book_equity_oku: 49806.861297415
sustainable_roe: 0.13303498106857
parent_ni_after_sbc_oku: 6626.0548497867
required_book_reinvestment_oku: 1489.0390745575
book_growth_rate: 0.02989626400399
employee_sbc_expense_already_in_ni_oku: 9.9390822746801
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 11.429944615882
repurchase_minus_sbc_addback_oku: 1.490862341202
sustainable_distributable_to_parent_common_cash_oku: 5135.524912888
end_book_equity_oku: 51295.900371973
residual_profit_after_capital_charge_oku: 2141.9464706781
present_value_owner_fcfe_oku: 1536.7876762619

内容を開く

forward_year: 2051
years_after_exit: 15
start_book_equity_oku: 51295.900371973
sustainable_roe: 0.12029677192777
parent_ni_after_sbc_oku: 6170.7312278767
required_book_reinvestment_oku: 1461.2602061592
book_growth_rate: 0.02848688093128
employee_sbc_expense_already_in_ni_oku: 9.2560968418151
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 10.644511368087
repurchase_minus_sbc_addback_oku: 1.3884145262723
sustainable_distributable_to_parent_common_cash_oku: 4708.0826071913
end_book_equity_oku: 52757.160578132
residual_profit_after_capital_charge_oku: 1552.7117798729
present_value_owner_fcfe_oku: 1292.5477773187

内容を開く

forward_year: 2052
years_after_exit: 16
start_book_equity_oku: 52757.160578132
sustainable_roe: 0.10847417365162
parent_ni_after_sbc_oku: 5722.7893979184
required_book_reinvestment_oku: 1432.9358379434
book_growth_rate: 0.02716097345348
employee_sbc_expense_already_in_ni_oku: 8.5841840968776
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 9.8718117114093
repurchase_minus_sbc_addback_oku: 1.2876276145317
sustainable_distributable_to_parent_common_cash_oku: 4288.5659323605
end_book_equity_oku: 54190.096416075
residual_profit_after_capital_charge_oku: 973.35731827203
present_value_owner_fcfe_oku: 1080.1600835894

内容を開く

forward_year: 2053
years_after_exit: 17
start_book_equity_oku: 54190.096416075
sustainable_roe: 0.09793064348201
parent_ni_after_sbc_oku: 5306.8710123786
required_book_reinvestment_oku: 1406.4361536859
book_growth_rate: 0.02595374887114
employee_sbc_expense_already_in_ni_oku: 7.9603065185679
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 9.154352496353
repurchase_minus_sbc_addback_oku: 1.1940459777852
sustainable_distributable_to_parent_common_cash_oku: 3899.2408127149
end_book_equity_oku: 55596.532569761
residual_profit_after_capital_charge_oku: 428.56828895402
present_value_owner_fcfe_oku: 901.00996156125

内容を開く

forward_year: 2054
years_after_exit: 18
start_book_equity_oku: 55596.532569761
sustainable_roe: 0.09
parent_ni_after_sbc_oku: 5003.6879312785
required_book_reinvestment_oku: 1389.913314244
book_growth_rate: 0.025
employee_sbc_expense_already_in_ni_oku: 7.5055318969177
shares_awarded_and_offset_at_equal_counts_price_proxy: はい
market_cash_repurchase_to_keep_parent_shares_flat_oku: 8.6313616814554
repurchase_minus_sbc_addback_oku: 1.1258297845377
sustainable_distributable_to_parent_common_cash_oku: 3612.6487872499
end_book_equity_oku: 56986.445884005
residual_profit_after_capital_charge_oku: -1.1258297845377
present_value_owner_fcfe_oku: 765.8589282586

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

9.1E-13

event_receipts_equals_payout_difference_oku

oldcohort_terminal_fraction_check_oku

terminal_DCF_minus_RI_oku

-2.91E-11

site_irr_npv_reconciliation_oku

-7.28E-12

act_irr_npv_reconciliation_oku

1.455E-11

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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