Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to NT$391, the stock trades at a trailing P/E ratio of 74.9x. Average trailing P/E is 39x in the Electronic industry in Taiwan. Total returns to shareholders of 326% over the past three years. Declared Dividend • Jun 26
Dividend increased to NT$2.50 Dividend of NT$2.50 is 4.1% higher than last year. Ex-date: 9th July 2026 Payment date: 29th July 2026 Dividend yield will be 0.5%, which is lower than the industry average of 4.0%. Payout Ratios Payout ratio: 48%. Cash payout ratio: 28%. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to NT$416, the stock trades at a trailing P/E ratio of 79.6x. Average trailing P/E is 40x in the Electronic industry in Taiwan. Total returns to shareholders of 329% over the past three years. New Risk • May 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 33% per year over the past 5 years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to NT$200, the stock trades at a trailing P/E ratio of 38.2x. Average trailing P/E is 31x in the Electronic industry in Taiwan. Total returns to shareholders of 118% over the past three years. Reported Earnings • May 07
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$1.21 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00. Revenue: NT$9.54b (up 9.1% from 1Q 2025). Net income: NT$819.6m (up 40% from 1Q 2025). Profit margin: 8.6% (up from 6.7% in 1Q 2025). The increase in margin was driven by higher revenue. Buy Or Sell Opportunity • May 05
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to NT$148. The fair value is estimated to be NT$121, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has grown by 19%. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$136, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 27x in the Electronic industry in Taiwan. Total returns to shareholders of 37% over the past three years. New Risk • Mar 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 9.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.4% average weekly change). Earnings have declined by 34% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Mar 03
Full year 2025 earnings released: EPS: NT$4.74 (vs NT$6.15 in FY 2024) Full year 2025 results: EPS: NT$4.74 (down from NT$6.15 in FY 2024). Revenue: NT$36.5b (up 4.9% from FY 2024). Net income: NT$2.30b (down 23% from FY 2024). Profit margin: 6.3% (down from 8.6% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Feb 26
Walsin Technology Corporation, Annual General Meeting, Jun 12, 2026 Walsin Technology Corporation, Annual General Meeting, Jun 12, 2026. Location: no,3, ch`ing nien rd., yangmei district, taoyuan city Taiwan Buy Or Sell Opportunity • Feb 24
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to NT$149. The fair value is estimated to be NT$114, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 10%. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$149, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$129, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$147, the stock trades at a trailing P/E ratio of 30.3x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 88% over the past three years. Buy Or Sell Opportunity • Jan 14
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 37% to NT$135. The fair value is estimated to be NT$111, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 10%. New Risk • Nov 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). Earnings have declined by 33% per year over the past 5 years. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: NT$2.18 (vs NT$0.92 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.18 (up from NT$0.92 in 3Q 2024). Revenue: NT$9.41b (flat on 3Q 2024). Net income: NT$1.06b (up 138% from 3Q 2024). Profit margin: 11% (up from 4.8% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 12% per year. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$114, the stock trades at a trailing P/E ratio of 31.7x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 59% over the past three years. New Risk • Sep 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 31% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.5% average weekly change). Profit margins are more than 30% lower than last year (4.8% net profit margin). Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to NT$105, the stock trades at a trailing P/E ratio of 29.3x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 47% over the past three years. Board Change • Sep 11
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Ker-Hsin Chang was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$0.44 loss per share (vs NT$2.06 profit in 2Q 2024) Second quarter 2025 results: NT$0.44 loss per share (down from NT$2.06 profit in 2Q 2024). Revenue: NT$9.55b (up 7.5% from 2Q 2024). Net loss: NT$214.9m (down 122% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 5% per year. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Independent Director Ker-Hsin Chang was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Jun 25
Dividend increased to NT$2.40 Dividend of NT$2.40 is 12% higher than last year. Ex-date: 9th July 2025 Payment date: 25th July 2025 Dividend yield will be 3.0%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 19% 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 56% to shift the payout ratio to a potentially unsustainable range, which is more than the 10.0% EPS decline seen over the last 5 years. Announcement • Jun 21
Walsin Technology Corporation Announces Cash Dividend for the Year 2024, Payable on July 25, 2025 Walsin Technology Corporation announced cash dividend to common shareholders of TWD 1,165,931,458 distribution ratio TWD 2.40495045 per share. Ex-rights (ex-dividend) trading date: July 09, 2025. Ex-rights (ex-dividend) record date: July 15, 2025. Payment date of common stock cash dividend distribution: July 25, 2025. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$1.21 (vs NT$1.27 in 1Q 2024) First quarter 2025 results: EPS: NT$1.21 (down from NT$1.27 in 1Q 2024). Revenue: NT$8.74b (up 7.2% from 1Q 2024). Net income: NT$585.3m (down 5.2% from 1Q 2024). Profit margin: 6.7% (down from 7.6% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% 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 • Apr 27
Walsin Technology Corporation to Report Q1, 2025 Results on May 05, 2025 Walsin Technology Corporation announced that they will report Q1, 2025 results on May 05, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$73.80, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 37% over the past three years. Announcement • Mar 31
Walsin Technology Corporation, Annual General Meeting, Jun 17, 2025 Walsin Technology Corporation, Annual General Meeting, Jun 17, 2025, at 09:30 Taipei Standard Time. Location: no,3, ch`ing nien rd., yangmei district, taoyuan city Taiwan Reported Earnings • Mar 09
Full year 2024 earnings released: EPS: NT$6.15 (vs NT$4.09 in FY 2023) Full year 2024 results: EPS: NT$6.15 (up from NT$4.09 in FY 2023). Revenue: NT$34.8b (up 6.0% from FY 2023). Net income: NT$2.98b (up 50% from FY 2023). Profit margin: 8.6% (up from 6.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Feb 13
Walsin Technology Corporation to Report Fiscal Year 2024 Results on Feb 20, 2025 Walsin Technology Corporation announced that they will report fiscal year 2024 results on Feb 20, 2025 New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: NT$0.92 (vs NT$2.19 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.92 (down from NT$2.19 in 3Q 2023). Revenue: NT$9.35b (up 7.6% from 3Q 2023). Net income: NT$445.4m (down 58% from 3Q 2023). Profit margin: 4.8% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Oct 23
Walsin Technology Corporation to Report Q3, 2024 Results on Oct 30, 2024 Walsin Technology Corporation announced that they will report Q3, 2024 results on Oct 30, 2024 Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: NT$2.06 (vs NT$1.74 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.06 (up from NT$1.74 in 2Q 2023). Revenue: NT$8.89b (up 8.1% from 2Q 2023). Net income: NT$999.9m (up 19% from 2Q 2023). Profit margin: 11% (up from 10% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Announcement • Jul 24
Walsin Technology Corporation to Report Q2, 2024 Results on Aug 01, 2024 Walsin Technology Corporation announced that they will report Q2, 2024 results on Aug 01, 2024 Upcoming Dividend • Jul 03
Upcoming dividend of NT$2.15 per share Eligible shareholders must have bought the stock before 10 July 2024. Payment date: 01 August 2024. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.6%). Announcement • Jun 24
Walsin Technology Corporation Announces Cash Dividend, Payable on August 1, 2024 Walsin Technology Corporation announced Cash dividend to common shareholders of TWD 1,044,479,243 distribution ratio of TWD 2.15443267 per share. Ex-rights (ex-dividend) trading date: July 10, 2024. Ex-rights (ex-dividend) record date: July 16, 2024. Payment date of common stock cash dividend distribution: August 1, 2024. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: June 21, 2024. Reported Earnings • May 11
First quarter 2024 earnings released: EPS: NT$2.54 (vs NT$0.57 in 1Q 2023) First quarter 2024 results: EPS: NT$2.54 (up from NT$0.57 in 1Q 2023). Revenue: NT$16.3b (up 108% from 1Q 2023). Net income: NT$1.23b (up 348% from 1Q 2023). Profit margin: 7.6% (up from 3.5% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: NT$4.09 (vs NT$3.41 in FY 2022) Full year 2023 results: EPS: NT$4.09 (up from NT$3.41 in FY 2022). Revenue: NT$32.8b (down 7.1% from FY 2022). Net income: NT$1.98b (up 20% from FY 2022). Profit margin: 6.1% (up from 4.7% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Announcement • Feb 24
Walsin Technology Corporation, Annual General Meeting, Jun 13, 2024 Walsin Technology Corporation, Annual General Meeting, Jun 13, 2024. Location: No.3, Qingnian Rd., Yangmei Dis Tao-Yuan City Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committee's review report; to consider The distribution report of compensation of the employees and directors for Year 2023; to admit Business Report and Financial Statements of Year 2023; to admit the earnings distribution of Year 2023; and to consider other matter. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$140, the stock trades at a trailing P/E ratio of 40x. Average trailing P/E is 21x in the Electronic industry in Taiwan. Total loss to shareholders of 22% over the past three years. New Risk • Nov 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 33% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Profit margins are more than 30% lower than last year (3.6% net profit margin). Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$122, the stock trades at a trailing P/E ratio of 51.8x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total loss to shareholders of 24% over the past three years. Announcement • Sep 01
Walsin Technology Corporation Announces Research and Development Officer Changes Walsin Technology Corporation announced the resignation of Chang Jui Tsung as Research and development officer, effective September 1, 2023. Walsin Technology Corporation announced the appointment of Tseng Ming-Tsan as Research and development officer, effective September 1, 2023. Tseng Ming-Tsan is President of Walsin Technology Corporation. Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: NT$1.74 (vs NT$1.57 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.74 (up from NT$1.57 in 2Q 2022). Revenue: NT$8.22b (down 17% from 2Q 2022). Net income: NT$841.8m (up 11% from 2Q 2022). Profit margin: 10% (up from 7.7% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Aug 11
Walsin Technology Corporation Announces Sustainable Development Committee Changes Walsin Technology Corporation announced the resignation of Ku Li-Chin, Former president of the company as member of sustainable Development Committee and appointed Tseng Ming-Tsan, President of the company as member of sustainable Development Committee. Effective date of the new member is August 10, 2023. Upcoming Dividend • Jul 21
Upcoming dividend of NT$2.40 per share at 2.5% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 16 August 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%). Announcement • May 06
Walsin Technology Corporation Proposes Cash Dividend for 2022 Walsin Technology Corporation proposed cash dividend of TWD 2.4 per share for 2022. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$109, the stock trades at a trailing P/E ratio of 32x. Average trailing P/E is 14x in the Electronic industry in Taiwan. Total loss to shareholders of 39% over the past three years. Reported Earnings • Mar 04
Full year 2022 earnings released: EPS: NT$3.40 (vs NT$16.35 in FY 2021) Full year 2022 results: EPS: NT$3.40 (down from NT$16.35 in FY 2021). Revenue: NT$35.3b (down 16% from FY 2021). Net income: NT$1.65b (down 79% from FY 2021). Profit margin: 4.7% (down from 19% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$98.80, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total loss to shareholders of 53% over the past three years. Announcement • Dec 15
Walsin Technology Corporation Appoints Members of Sustainable Development Committee Walsin Technology Corporation appointed Members of Sustainable Development Committee. Date of occurrence of the change: December 14, 2022. Name of the functional committees: Sustainable Development Committee. Name of the new position holder: Fan Po-Kang,Tan Yong-Chian,Ku Li-Chin. Resume of the new position holder: Fan Po-Kang,Independent director of WTC Tan Yong-Chian, Independent director of WTC Ku Li-Chin,President of WTC. Effective date of the new member: December 14, 2022. Price Target Changed • Nov 16
Price target decreased to NT$86.00 Down from NT$238, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$87.30. Stock is down 49% over the past year. The company is forecast to post earnings per share of NT$7.48 for next year compared to NT$16.35 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Chlen-Chun Ng was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$1.05 (vs NT$5.52 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.05 (down from NT$5.52 in 3Q 2021). Revenue: NT$8.23b (down 25% from 3Q 2021). Net income: NT$509.0m (down 81% from 3Q 2021). Profit margin: 6.2% (down from 25% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Nov 02
Walsin Technology Corporation Announces Management Changes Walsin Technology Corporation appoints Huang Jui Chang,manager of audit office of WTC as chief internal auditor in place of Lu Wen Chuan, director of audit office of WTC, effective date is November 1, 2022. Announcement • Oct 01
Walsin Technology Corporation Announces Retirement of Lu Wen Chuan as Chief Internal Auditor Walsin Technology Corporation announced change of internal audit officer of the Company. Type of personnel changed: chief internal auditor. Name, title, and resume of the previous position holder: Lu Wen Chuan, director of audit office of WTC. Name, title, and resume of the new position holder: Will be announced after the approval of the board of directors of the Company. Reason for the change: retirement. Effective date: September 30, 2022. The new replacement will be announced after the approval of the board of directors of the Company. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: NT$1.57 (vs NT$4.82 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.57 (down from NT$4.82 in 2Q 2021). Revenue: NT$9.85b (down 16% from 2Q 2021). Net income: NT$760.4m (down 68% from 2Q 2021). Profit margin: 7.7% (down from 20% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 14% per year. Upcoming Dividend • Aug 03
Upcoming dividend of NT$4.51 per share Eligible shareholders must have bought the stock before 10 August 2022. Payment date: 02 September 2022. Payout ratio is a comfortable 32% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (6.7%). In line with average of industry peers (4.6%). Announcement • Jul 12
Walsin Technology Corporation Announces Cash Dividend, Payable on September 2, 2022 Walsin Technology Corporation announced cash dividend to common shareholders TWD 2,186,119,346, distribution ratio TWD 4.50928209 per share. Ex-rights (ex-dividend) trading date is August 10, 2022, record date is August 16, 2022 and Cash dividend payment day is September 2, 2022. Announcement • Jun 16
Walsin Technology Corporation Announces 16Th Directors Election List Walsin Technology Corporation announced 16th Directors election list. Title and name of the previous position holder: Director: Lee Chia-Hwa, Director: HannStar Board Corporation representive: Shu Yao-Hsien, Director: Ku Li-Chin, Independent Director: Francis Chi. Resume of the previous position holder: Director: Lee Chia-Hwa(Director of International Mobile IOT Corp.). Director: HannStar Board Corporation representive: Shu Yao-Hsien (Director of HannStar Board Corporation), Director: Ku Li-Chin(director and president of Walsin Technology Corporation), Independent Director: Francis Chi(President of Obio pharmacentical limited.). Title and name of the new position holder: Director: Oliver Co. Ltd. representative: Chu Yeu-Yuh. Independent Director: NG Chlen-Chun. Resume of the new position holder: Director: Oliver Co. Ltd. representative: Chu Yeu-Yuh (Director of HannStar Board Corporation), Independent Director: NG Chlen Chun(Deloitte Consulting, Kuala Lumpur,Malaysia). Effective date of the new appointment is June 15, 2022. Announcement • May 04
Walsin Technology Corporation Proposes Cash Dividend for 2021 Walsin Technology Corporation proposed cash dividend of TWD 4.5 per share for 2021. Price Target Changed • Apr 27
Price target decreased to NT$153 Down from NT$238, the current price target is provided by 1 analyst. New target price is 26% above last closing price of NT$121. Stock is down 50% over the past year. The company is forecast to post earnings per share of NT$13.93 for next year compared to NT$16.35 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Po-Kang Fan was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: NT$16.35 (up from NT$13.66 in FY 2020). Revenue: NT$42.1b (up 18% from FY 2020). Net income: NT$7.93b (up 20% from FY 2020). Profit margin: 19% (in line with FY 2020). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 11%. Over the next year, revenue is forecast to grow 6.0%, compared to a 9.1% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 38% 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. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$5.52 (vs NT$4.89 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$10.9b (up 5.9% from 3Q 2020). Net income: NT$2.68b (up 13% from 3Q 2020). Profit margin: 25% (up from 23% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Aug 23
Upcoming dividend of NT$6.01 per share Eligible shareholders must have bought the stock before 30 August 2021. Payment date: 15 September 2021. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (3.3%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$4.82 (vs NT$3.98 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$11.7b (up 33% from 2Q 2020). Net income: NT$2.34b (up 21% from 2Q 2020). Profit margin: 20% (down from 22% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$195, the stock trades at a trailing P/E ratio of 11.9x. Average forward P/E is 11x in the Electronic industry in Taiwan. Total loss to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$192 per share. Reported Earnings • May 05
First quarter 2021 earnings released: EPS NT$4.06 (vs NT$1.35 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$10.5b (up 65% from 1Q 2020). Net income: NT$1.97b (up 201% from 1Q 2020). Profit margin: 19% (up from 10% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.008%. Earnings per share (EPS) missed analyst estimates by 11%. Over the next year, revenue is forecast to grow 22%, compared to a 16% growth forecast for the Electronic industry in Taiwan. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS NT$13.65 (vs NT$13.72 in FY 2019) The company reported a mediocre full year result with weaker profit margins, although earnings were flat and revenues improved. Full year 2020 results: Revenue: NT$35.6b (up 18% from FY 2019). Net income: NT$6.63b (flat on FY 2019). Profit margin: 19% (down from 22% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 18% share price gain to NT$279, the stock is trading at a trailing P/E ratio of 22.2x, up from the previous P/E ratio of 18.8x. This compares to an average P/E of 19x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 269%. Is New 90 Day High Low • Feb 17
New 90-day high: NT$260 The company is up 37% from its price of NT$189 on 19 November 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$153 per share.