Buy Or Sell Opportunity • Jul 22
Now 21% undervalued Over the last 90 days, the stock has risen 13% to NT$195. The fair value is estimated to be NT$246, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Earnings per share has declined by 6.0%. Revenue is forecast to grow by 41% in a year. Earnings are forecast to grow by 50% in the next year. Declared Dividend • Jul 20
Dividend of NT$6.50 announced Shareholders will receive a dividend of NT$6.50. Ex-date: 6th August 2026 Payment date: 4th September 2026 Dividend yield will be 3.5%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (54% earnings payout ratio) but not covered by cash flows (100% cash payout ratio). The dividend has increased by an average of 2.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 30% over the next year, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Jul 10
Consensus revenue estimates increase by 11% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from NT$8.45b to NT$9.37b. EPS estimate increased from NT$16.53 to NT$17.16 per share. Net income forecast to grow 51% next year vs 38% growth forecast for Auto Components industry in Taiwan. Consensus price target up from NT$215 to NT$225. Share price rose 2.7% to NT$190 over the past week. Reported Earnings • May 06
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: NT$3.00 (down from NT$3.78 in 1Q 2025). Revenue: NT$2.06b (up 8.9% from 1Q 2025). Net income: NT$249.1m (down 3.9% from 1Q 2025). Profit margin: 12% (down from 14% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 24%. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 5% per year. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$172, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Auto Components industry in Taiwan. Total returns to shareholders of 11% over the past three years. Announcement • Mar 13
Eurocharm Holdings Co., Ltd., Annual General Meeting, May 29, 2026 Eurocharm Holdings Co., Ltd., Annual General Meeting, May 29, 2026. Location: no,2, wen yih rd., sinjhuang district, new taipei city Taiwan Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$12.25 (vs NT$17.01 in FY 2024) Full year 2025 results: EPS: NT$12.25 (down from NT$17.01 in FY 2024). Revenue: NT$6.81b (down 6.6% from FY 2024). Net income: NT$848.3m (down 26% from FY 2024). Profit margin: 13% (down from 16% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 7% per year. Reported Earnings • Nov 06
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: NT$3.51 (up from NT$2.47 in 3Q 2024). Revenue: NT$1.53b (down 12% from 3Q 2024). Net income: NT$244.2m (up 47% from 3Q 2024). Profit margin: 16% (up from 9.6% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.4%. Earnings per share (EPS) also missed analyst estimates by 3.8%. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 05
Second quarter 2025 earnings released: EPS: NT$1.46 (vs NT$4.46 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.46 (down from NT$4.46 in 2Q 2024). Revenue: NT$1.57b (down 17% from 2Q 2024). Net income: NT$100.8m (down 66% from 2Q 2024). Profit margin: 6.4% (down from 16% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 23
Dividend increased to NT$8.51 Dividend of NT$8.51 is 10% higher than last year. Ex-date: 7th August 2025 Payment date: 4th September 2025 Dividend yield will be 6.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 9.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: NT$3.78 (vs NT$3.91 in 1Q 2024) First quarter 2025 results: EPS: NT$3.78 (down from NT$3.91 in 1Q 2024). Revenue: NT$1.89b (up 6.6% from 1Q 2024). Net income: NT$259.0m (flat on 1Q 2024). Profit margin: 14% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Apr 29
Eurocharm Holdings Co., Ltd. to Report Q1, 2025 Results on May 06, 2025 Eurocharm Holdings Co., Ltd. announced that they will report Q1, 2025 results on May 06, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$142, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Auto Components industry in Taiwan. Total returns to shareholders of 3.3% over the past three years. Reported Earnings • Mar 11
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: NT$17.01 (up from NT$15.60 in FY 2023). Revenue: NT$7.28b (flat on FY 2023). Net income: NT$1.14b (up 11% from FY 2023). Profit margin: 16% (up from 14% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.4%. 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 8% per year, which means it is significantly lagging earnings growth. Announcement • Mar 07
Eurocharm Holdings Co., Ltd., Annual General Meeting, May 29, 2025 Eurocharm Holdings Co., Ltd., Annual General Meeting, May 29, 2025. Location: 3 floor no,469, chung yang rd., sinjhuang district, new taipei city Taiwan Announcement • Feb 27
Eurocharm Holdings Co., Ltd. to Report Q4, 2024 Results on Mar 06, 2025 Eurocharm Holdings Co., Ltd. announced that they will report Q4, 2024 results on Mar 06, 2025 Price Target Changed • Dec 27
Price target decreased by 12% to NT$178 Down from NT$202, the current price target is provided by 1 analyst. New target price is 9.2% below last closing price of NT$196. Stock is up 7.7% over the past year. The company posted earnings per share of NT$15.60 last year. Reported Earnings • Oct 31
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: NT$2.47 (down from NT$4.04 in 3Q 2023). Revenue: NT$1.74b (flat on 3Q 2023). Net income: NT$166.1m (down 38% from 3Q 2023). Profit margin: 9.6% (down from 16% in 3Q 2023). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 39%. 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 9% per year, which means it is significantly lagging earnings growth. Announcement • Oct 22
Eurocharm Holdings Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Eurocharm Holdings Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 New Risk • Oct 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$232, the stock trades at a trailing P/E ratio of 13.7x. Average forward P/E is 16x in the Auto Components industry in Taiwan. Total returns to shareholders of 90% over the past three years. Buy Or Sell Opportunity • Sep 12
Now 21% overvalued Over the last 90 days, the stock has fallen 5.4% to NT$193. The fair value is estimated to be NT$160, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 19%. Reported Earnings • Aug 09
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: NT$4.46 (up from NT$3.35 in 2Q 2023). Revenue: NT$1.90b (up 5.8% from 2Q 2023). Net income: NT$298.0m (up 35% from 2Q 2023). Profit margin: 16% (up from 12% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 27%. 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 12% per year, which means it is significantly lagging earnings growth. Announcement • Jul 31
Eurocharm Holdings Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Eurocharm Holdings Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Declared Dividend • Jul 21
Dividend increased to NT$7.81 Dividend of NT$7.81 is 11% higher than last year. Ex-date: 15th August 2024 Payment date: 11th September 2024 Dividend yield will be 3.7%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has increased by an average of 9.3% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 05
First quarter 2024 earnings released: EPS: NT$3.91 (vs NT$3.57 in 1Q 2023) First quarter 2024 results: EPS: NT$3.91 (up from NT$3.57 in 1Q 2023). Revenue: NT$1.78b (down 3.3% from 1Q 2023). Net income: NT$260.2m (up 10% from 1Q 2023). Profit margin: 15% (up from 13% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Apr 26
Eurocharm Holdings Co., Ltd. to Report Q1, 2024 Results on May 02, 2024 Eurocharm Holdings Co., Ltd. announced that they will report Q1, 2024 results on May 02, 2024 Announcement • Mar 14
Eurocharm Holdings Co., Ltd., Annual General Meeting, May 31, 2024 Eurocharm Holdings Co., Ltd., Annual General Meeting, May 31, 2024. Reported Earnings • Mar 06
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: NT$15.60 (up from NT$14.29 in FY 2022). Revenue: NT$7.27b (down 9.6% from FY 2022). Net income: NT$1.03b (up 9.7% from FY 2022). Profit margin: 14% (up from 12% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 4.0%. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 13
Price target decreased by 12% to NT$178 Down from NT$202, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$176. Stock is up 0.3% over the past year. The company is forecast to post earnings per share of NT$15.58 for next year compared to NT$14.29 last year. Reported Earnings • Nov 02
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: NT$4.04 (up from NT$4.01 in 3Q 2022). Revenue: NT$1.73b (down 17% from 3Q 2022). Net income: NT$268.2m (up 1.6% from 3Q 2022). Profit margin: 16% (up from 13% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 9.8%. Earnings per share (EPS) exceeded analyst estimates by 4.0%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 20% per year. Announcement • Nov 01
Eurocharm Holdings Co., Ltd. Announces Chief Internal Auditor Changes Eurocharm Holdings Co., Ltd. announced the appointment of Lin Yu Tong as Chief Internal Auditor in place of Chang Ming Yuan. Changes are effective from October 31, 2023. Announcement • Sep 29
Eurocharm Holdings Co., Ltd. Announces Resignation of Chang Ming Yuan as Internal Audit Officer Eurocharm Holdings Co., Ltd. announced that resignation of Chang Ming Yuan as internal audit officer. Effective date is September 30, 2023. Reported Earnings • Aug 10
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: NT$3.35 (up from NT$3.02 in 2Q 2022). Revenue: NT$1.80b (down 4.6% from 2Q 2022). Net income: NT$221.5m (up 11% from 2Q 2022). Profit margin: 12% (up from 11% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 4.7%. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year. Upcoming Dividend • Aug 04
Upcoming dividend of NT$7.06 per share at 4.0% yield Eligible shareholders must have bought the stock before 11 August 2023. Payment date: 11 September 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (3.3%). Announcement • Jul 18
Eurocharm Holdings Co., Ltd. Announces Cash Dividend, Payable on September 11, 2023 Eurocharm Holdings Co., Ltd. announced cash dividend of TWD 468,005,908. The dividend is payable on September 11, 2023 with Ex-rights (ex-dividend) trading date of August 11, 2023 and Ex-rights (ex-dividend) record date of August 19, 2023. Reported Earnings • May 13
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: NT$3.57 (up from NT$2.68 in 1Q 2022). Revenue: NT$1.84b (up 2.4% from 1Q 2022). Net income: NT$235.8m (up 34% from 1Q 2022). Profit margin: 13% (up from 9.8% in 1Q 2022). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 3.7%. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 25
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: NT$14.29 (up from NT$9.53 in FY 2021). Revenue: NT$8.04b (up 40% from FY 2021). Net income: NT$941.4m (up 50% from FY 2021). Profit margin: 12% (in line with FY 2021). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 2.3%. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 13% per year. 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. 1 experienced director. 4 highly experienced directors. No independent directors (5 non-independent directors). Director Steven Chang was the last director to join the board, commencing their role in 2013. 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 • Nov 04
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: NT$4.01 (up from NT$1.80 in 3Q 2021). Revenue: NT$2.08b (up 52% from 3Q 2021). Net income: NT$264.0m (up 123% from 3Q 2021). Profit margin: 13% (up from 8.6% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 7.5%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 9.0% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Aug 25
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 28 September 2022. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (6.5%). In line with average of industry peers (2.7%). Reported Earnings • Aug 19
Second quarter 2022 earnings: EPS misses analyst expectations Second quarter 2022 results: EPS: NT$3.02 (up from NT$2.97 in 2Q 2021). Revenue: NT$1.88b (up 29% from 2Q 2021). Net income: NT$198.9m (up 1.9% from 2Q 2021). Profit margin: 11% (down from 13% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.8%. Over the next year, revenue is forecast to grow 28%, compared to a 16% growth forecast for the Auto Components industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 8% per year. Announcement • Jun 11
Eurocharm Holdings Co., Ltd. Announces Kao,Hung-Yi as New Corporate Governance Officer Eurocharm Holdings Co., Ltd. announced New corporate governance officer. Name, title, and resume of the new position holder: Kao,Hung-Yi /Director of Eurocharm Holdings Co., Ltd. Type of the change: new replacement. Effective date is June 10, 2022. Reported Earnings • May 03
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$2.68 (down from NT$2.69 in 1Q 2021). Revenue: NT$1.79b (up 36% from 1Q 2021). Net income: NT$176.3m (flat on 1Q 2021). Profit margin: 9.8% (down from 13% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 27%, compared to a 6.0% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 1% per year. Board Change • Apr 27
Less than half of directors are independent 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. 7 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jerry Fong was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Mar 05
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$13.95 to NT$12.33 per share. Revenue forecast steady at NT$7.23b. Net income forecast to grow 29% next year vs 34% growth forecast for Auto Components industry in Taiwan. Consensus price target down from NT$203 to NT$193. Share price was steady at NT$153 over the past week. Reported Earnings • Mar 01
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: NT$9.53 (up from NT$8.40 in FY 2020). Revenue: NT$5.72b (up 23% from FY 2020). Net income: NT$627.5m (up 13% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.6%. Over the next year, revenue is forecast to grow 27%, compared to a 34% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year. Announcement • Feb 26
Eurocharm Holdings Co., Ltd., Annual General Meeting, May 31, 2022 Eurocharm Holdings Co., Ltd., Annual General Meeting, May 31, 2022. Location: No.82, ZhongZheng Rd., Xinzhuang Dist., New Taipei City 242 (Chateau de Chine Hotel 2F, Equinox and Harvest Room) Taipei City Taiwan Agenda: To consider 2021 business report; to consider Audit Committee's review of the 2021 annual final accounting books and statements; to consider Report on 2021 employees' and directors' remuneration; to consider Report on 2021 cash dividend earnings distribution; and to consider other matters. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$1.80 (vs NT$2.53 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$1.37b (up 5.4% from 3Q 2020). Net income: NT$118.4m (down 29% from 3Q 2020). Profit margin: 8.6% (down from 13% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 20
Second quarter 2021 earnings released: EPS NT$2.97 (vs NT$0.18 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.46b (up 87% from 2Q 2020). Net income: NT$195.2m (up NT$183.5m from 2Q 2020). Profit margin: 13% (up from 1.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 12
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 19 August 2021. Payment date: 15 September 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (2.4%). Major Estimate Revision • May 06
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from NT$10.06 to NT$11.09. Revenue forecast steady at NT$5.68b. Net income forecast to grow 31% next year vs 75% growth forecast for Auto Components industry in Taiwan. Consensus price target of NT$154 unchanged from last update. Share price was steady at NT$155 over the past week. Reported Earnings • May 02
First quarter 2021 earnings released: EPS NT$2.69 (vs NT$2.15 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.32b (up 4.3% from 1Q 2020). Net income: NT$176.9m (up 25% from 1Q 2020). Profit margin: 13% (up from 11% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.7%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Over the next year, revenue is forecast to grow 20%, compared to a 22% growth forecast for the Auto Components industry in Taiwan. Announcement • Feb 27
Eurocharm Holdings Co., Ltd., Annual General Meeting, May 28, 2021 Eurocharm Holdings Co., Ltd., Annual General Meeting, May 28, 2021. Location: No. 82, Zhongzheng Rd., Xinzhuang Dist New Taipei City Taiwan Agenda: To consider the business report for fiscal year 2020; to consider the audit committee's review report for the 2020 consolidated financial statements; to consider the report on 2020 remuneration to directors and employees' compensation; to consider the report on 2020 earning distribution proposal; to consider the report on revision of the company's integrity management operating procedures and conduct guidelines; to consider the adoption of the 2020 business report and consolidated financial statements; to consider the adoption of the proposal for distribution of 2020 profits; to consider the proposal to amend the memorandum and articles of association of the company; to consider the proposal to amend the procedures for shareholders meetings; and to consider other matters. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS NT$8.40 (vs NT$9.50 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$4.66b (down 11% from FY 2019). Net income: NT$553.2m (down 12% from FY 2019). Profit margin: 12% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 24
New 90-day high: NT$131 The company is up 16% from its price of NT$113 on 26 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Auto Components industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$64.46 per share. Is New 90 Day High Low • Jan 27
New 90-day high: NT$125 The company is up 30% from its price of NT$95.80 on 29 October 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$63.12 per share. Price Target Changed • Jan 26
Price target raised to NT$128 Up from NT$116, the current price target is an average from 2 analysts. The new target price is 9.1% above the current share price of NT$117. As of last close, the stock is down 3.3% over the past year. Is New 90 Day High Low • Jan 05
New 90-day high: NT$117 The company is up 18% from its price of NT$99.30 on 07 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$63.60 per share. Price Target Changed • Nov 09
Price target raised to NT$135 Up from NT$108, the current price target is an average from 3 analysts. The new target price is 32% above the current share price of NT$103. As of last close, the stock is down 16% over the past year. Analyst Estimate Surprise Post Earnings • Nov 04
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Over the next year, revenue is forecast to grow 14%, compared to a 12% growth forecast for the Auto Components industry in Taiwan. Reported Earnings • Nov 04
Third quarter 2020 earnings released: EPS NT$2.53 The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: NT$1.30b (flat on 3Q 2019). Net income: NT$166.5m (up 13% from 3Q 2019). Profit margin: 13% (up from 11% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 2% per year. Is New 90 Day High Low • Oct 30
New 90-day low: NT$94.30 The company is down 1.0% from its price of NT$95.20 on 31 July 2020. The Taiwanese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$42.37 per share.