Declared Dividend • Jun 19
Dividend reduced to NT$5.04 Dividend of NT$5.04 is 16% lower than last year. Ex-date: 3rd July 2026 Payment date: 24th July 2026 Dividend yield will be 7.8%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (90.2% earnings payout ratio). However, it is covered by cash flows (50% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share declined by 6.8% over the last 5 years, which if continued should see the payout ratio increase to a potentially unsustainable range. Reported Earnings • Mar 30
Full year 2025 earnings released: EPS: NT$5.54 (vs NT$8.86 in FY 2024) Full year 2025 results: EPS: NT$5.54 (down from NT$8.86 in FY 2024). Revenue: NT$3.29b (down 8.1% from FY 2024). Net income: NT$559.3m (down 37% from FY 2024). Profit margin: 17% (down from 25% in FY 2024). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Mar 20
Cashbox Partyworld Co., Ltd., Annual General Meeting, Jun 17, 2026 Cashbox Partyworld Co., Ltd., Annual General Meeting, Jun 17, 2026, at 10:00 Taipei Standard Time. Location: 11 floor no,39, jui hu st., neihu district, taipei city Taiwan Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$74.60, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 17x in the Entertainment industry in Taiwan. Negligible returns to shareholders over past three years. New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by earnings (113% payout ratio). Profit margins are more than 30% lower than last year (15% net profit margin). New Risk • Sep 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 15% Last year net profit margin: 25% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (113% payout ratio). Profit margins are more than 30% lower than last year (15% net profit margin). Declared Dividend • Jun 22
Dividend reduced to NT$6.00 Dividend of NT$6.00 is 4.8% lower than last year. Ex-date: 3rd July 2025 Payment date: 25th July 2025 Dividend yield will be 6.9%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (68% earnings payout ratio) and cash flows (66% cash payout ratio). The dividend has increased by an average of 4.6% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 25% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.6% EPS decline seen over the last 5 years. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: NT$8.86 (vs NT$9.52 in FY 2023) Full year 2024 results: EPS: NT$8.86 (down from NT$9.52 in FY 2023). Revenue: NT$3.59b (down 6.2% from FY 2023). Net income: NT$894.1m (down 6.9% from FY 2023). Profit margin: 25% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Mar 21
Cashbox Partyworld Co., Ltd., Annual General Meeting, Jun 18, 2025 Cashbox Partyworld Co., Ltd., Annual General Meeting, Jun 18, 2025, at 10:00 Taipei Standard Time. Location: 11 floor no,39, jui hu st., neihu district, taipei city Taiwan New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.2% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Jun 28
Upcoming dividend of NT$6.30 per share Eligible shareholders must have bought the stock before 05 July 2024. Payment date: 25 July 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (3.1%). Reported Earnings • Apr 09
Full year 2023 earnings released: EPS: NT$9.52 (vs NT$4.96 in FY 2022) Full year 2023 results: EPS: NT$9.52 (up from NT$4.96 in FY 2022). Revenue: NT$3.82b (up 18% from FY 2022). Net income: NT$960.5m (up 42% from FY 2022). Profit margin: 25% (up from 21% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Mar 28
Cashbox Partyworld Co., Ltd., Annual General Meeting, Jun 20, 2024 Cashbox Partyworld Co., Ltd., Annual General Meeting, Jun 20, 2024. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buying Opportunity • Nov 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.6%. The fair value is estimated to be NT$124, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 2.9%. Reported Earnings • Aug 14
First half 2023 earnings released: EPS: NT$5.42 (vs NT$1.67 in 1H 2022) First half 2023 results: EPS: NT$5.42 (up from NT$1.67 in 1H 2022). Revenue: NT$1.95b (up 36% from 1H 2022). Net income: NT$547.4m (up 140% from 1H 2022). Profit margin: 28% (up from 16% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 2% per year. Buying Opportunity • Aug 12
Now 20% undervalued Over the last 90 days, the stock is up 9.2%. The fair value is estimated to be NT$128, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.2%. Upcoming Dividend • Jun 30
Upcoming dividend of NT$4.50 per share at 4.2% yield Eligible shareholders must have bought the stock before 07 July 2023. Payment date: 25 July 2023. Payout ratio is on the higher end at 91%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (5.2%). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 8 highly experienced directors. No independent directors (5 non-independent directors). Chairman of the Board Tai Sheng Lian was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 15
First half 2022 earnings released: EPS: NT$1.67 (vs NT$1.23 in 1H 2021) First half 2022 results: EPS: NT$1.67 (up from NT$1.23 in 1H 2021). Revenue: NT$1.43b (up 8.2% from 1H 2021). Net income: NT$228.5m (up 37% from 1H 2021). Profit margin: 16% (up from 13% in 1H 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 24
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 01 July 2022. Payment date: 22 July 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (6.2%). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 8 highly experienced directors. No independent directors (5 non-independent directors). Chairman of the Board Tai Sheng Lian was the last director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 18
First half 2021 earnings released: EPS NT$1.23 (vs NT$2.09 in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: NT$1.32b (down 14% from 1H 2020). Net income: NT$167.4m (down 41% from 1H 2020). Profit margin: 13% (down from 19% in 1H 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS NT$5.84 (vs NT$8.30 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.26b (down 15% from FY 2019). Net income: NT$797.0m (down 30% from FY 2019). Profit margin: 24% (down from 30% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 04
New 90-day high: NT$112 The company is up 6.0% from its price of NT$106 on 04 December 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 23
New 90-day low: NT$99.10 The company is down 14% from its price of NT$115 on 24 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 4.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: NT$100.00 The company is down 15% from its price of NT$118 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is down 9.0% over the same period.