Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$609, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 31x in the Machinery industry in Taiwan. Total returns to shareholders of 399% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$437 per share. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$742, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 37x in the Machinery industry in Taiwan. Total returns to shareholders of 588% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$425 per share. Price Target Changed • May 13
Price target increased by 17% to NT$607 Up from NT$518, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of NT$633. Stock is up 127% over the past year. The company is forecast to post earnings per share of NT$13.03 for next year compared to NT$9.28 last year. Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$2.00 (vs NT$1.96 in 1Q 2025) First quarter 2026 results: EPS: NT$2.00 (up from NT$1.96 in 1Q 2025). Revenue: NT$2.29b (up 29% from 1Q 2025). Net income: NT$436.4m (up 53% from 1Q 2025). Profit margin: 19% (up from 16% in 1Q 2025). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$669, the stock trades at a forward P/E ratio of 53x. Average forward P/E is 31x in the Machinery industry in Taiwan. Total returns to shareholders of 537% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$280 per share. Announcement • May 09
Kinik Company to Report Q1, 2026 Results on May 12, 2026 Kinik Company announced that they will report Q1, 2026 results on May 12, 2026 New Risk • Apr 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 8.4% 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: Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$517, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 27x in the Machinery industry in Taiwan. Total returns to shareholders of 369% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$378 per share. Buy Or Sell Opportunity • Apr 07
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to NT$475. The fair value is estimated to be NT$379, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has grown by 3.6%. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 66% in the next 2 years. New Risk • Mar 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Mar 18
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 34% to NT$486. The fair value is estimated to be NT$384, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has grown by 3.6%. Revenue is forecast to grow by 49% in 2 years. Earnings are forecast to grow by 66% in the next 2 years. Price Target Changed • Mar 12
Price target increased by 14% to NT$501 Up from NT$438, the current price target is an average from 8 analysts. New target price is 10.0% above last closing price of NT$456. Stock is up 81% over the past year. The company is forecast to post earnings per share of NT$12.54 for next year compared to NT$9.28 last year. Announcement • Mar 11
Kinik Company, Annual General Meeting, Jun 23, 2026 Kinik Company, Annual General Meeting, Jun 23, 2026. Location: no,64, chung shan rd., yingge district, new taipei city Taiwan Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$9.28 (vs NT$7.10 in FY 2024) Full year 2025 results: EPS: NT$9.28 (up from NT$7.10 in FY 2024). Revenue: NT$8.15b (up 16% from FY 2024). Net income: NT$1.36b (up 31% from FY 2024). Profit margin: 17% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Machinery 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 increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Feb 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 63% to NT$524. The fair value is estimated to be NT$432, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has declined by 4.1%. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 88% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$498, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 37x in the Machinery industry in Taiwan. Total returns to shareholders of 362% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$432 per share. Price Target Changed • Jan 14
Price target increased by 7.5% to NT$411 Up from NT$382, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of NT$422. Stock is up 48% over the past year. The company is forecast to post earnings per share of NT$8.63 for next year compared to NT$7.10 last year. Buy Or Sell Opportunity • Nov 25
Now 20% overvalued Over the last 90 days, the stock has fallen 9.1% to NT$310. The fair value is estimated to be NT$257, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has declined by 4.1%. Revenue is forecast to grow by 39% in 2 years. Earnings are forecast to grow by 102% in the next 2 years. Reported Earnings • Nov 10
Third quarter 2025 earnings released: EPS: NT$2.24 (vs NT$1.96 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.24 (up from NT$1.96 in 3Q 2024). Revenue: NT$2.09b (up 13% from 3Q 2024). Net income: NT$328.4m (up 15% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Nov 05
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at NT$309. The fair value is estimated to be NT$257, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years. Earnings per share has declined by 6.1%. Revenue is forecast to grow by 40% in 2 years. Earnings are forecast to grow by 96% in the next 2 years. Announcement • Oct 28
Kinik Company to Report Q3, 2025 Results on Oct 28, 2025 Kinik Company announced that they will report Q3, 2025 results on Oct 28, 2025 Reported Earnings • Aug 01
Second quarter 2025 earnings released: EPS: NT$1.82 (vs NT$1.75 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.82 (up from NT$1.75 in 2Q 2024). Revenue: NT$2.11b (up 22% from 2Q 2024). Net income: NT$266.4m (up 5.0% from 2Q 2024). Profit margin: 13% (down from 15% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Price Target Changed • Jul 31
Price target increased by 11% to NT$381 Up from NT$343, the current price target is an average from 6 analysts. New target price is 17% above last closing price of NT$326. Stock is up 11% over the past year. The company is forecast to post earnings per share of NT$9.01 for next year compared to NT$7.10 last year. Upcoming Dividend • Jul 14
Upcoming dividend of NT$3.99 per share Eligible shareholders must have bought the stock before 21 July 2025. Payment date: 13 August 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.8%). New Risk • Jun 24
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 10% 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. This is currently the only risk that has been identified for the company. Declared Dividend • Jun 21
Dividend of NT$4.00 announced Shareholders will receive a dividend of NT$4.00. Ex-date: 21st July 2025 Payment date: 13th August 2025 Dividend yield will be 1.4%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. EPS is expected to grow by 35% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 20
Kinik Company Approves Cash Dividend for Common Shareholders, Payable on August 13, 2025 KINIK COMPANY approved a total common stock cash dividend of TWD 584,175,736 (TWD 4 per share) to common shareholders. The ex-dividend date is July 21, 2025; the record date is July 27, 2025; and the payment date is August 13, 2025. Buy Or Sell Opportunity • Jun 02
Now 22% undervalued Over the last 90 days, the stock has risen 3.1% to NT$270. The fair value is estimated to be NT$345, 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 4.3%. Revenue is forecast to grow by 21% in a year. Earnings are forecast to grow by 42% in the next year. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$222, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 20x in the Machinery industry in Taiwan. Total returns to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$304 per share. Announcement • Apr 22
Kinik Company to Report Q1, 2025 Results on Apr 29, 2025 Kinik Company announced that they will report Q1, 2025 results on Apr 29, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$183, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 21x in the Machinery industry in Taiwan. Total returns to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$307 per share. New Risk • Mar 31
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 6.1% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Mar 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to NT$239. The fair value is estimated to be NT$299, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 94% in the next 2 years. Announcement • Mar 01
Kinik Company Approves Dividend Distribution Plan for the Year Ended December 31, 2024 Kinik Company approved dividend distribution plan for the year ended December 31, 2024. Date of the board of directors resolution is February 26, 2025. Appropriations of earnings in cash dividends to shareholders is TWD 2.7 per share. Total amount of cash distributed to shareholders is TWD 584,175,736. Cash distributed from legal reserve and capital surplus to shareholders is TWD 3 per share. Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: NT$7.10 (vs NT$5.91 in FY 2023) Full year 2024 results: EPS: NT$7.10 (up from NT$5.91 in FY 2023). Revenue: NT$7.02b (up 10.0% from FY 2023). Net income: NT$1.04b (up 22% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Announcement • Feb 27
Kinik Company, Annual General Meeting, Jun 19, 2025 Kinik Company, Annual General Meeting, Jun 19, 2025. Location: no,64, chung shan rd., yingge district, new taipei city Taiwan Announcement • Feb 19
Kinik Company to Report Fiscal Year 2024 Results on Feb 26, 2025 Kinik Company announced that they will report fiscal year 2024 results on Feb 26, 2025 Announcement • Jan 23
Kinik Company (TWSE:1560) entered into a formal acquisition agreement to acquire Mitsui Grinding Wheel Co., Ltd. from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥1.9 billion. Kinik Company (TWSE:1560) entered into a formal acquisition agreement to acquire Mitsui Grinding Wheel Co., Ltd. from Mitsui Mining & Smelting Co., Ltd. (TSE:5706) for ¥1.9 billion on January 22, 2025.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. Wu, Meng-da of Crowe (TW) CPAs/Taipei acted as the accountant for Kinik Company (TWSE:1560). Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: NT$1.96 (vs NT$2.02 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.96 (down from NT$2.02 in 3Q 2023). Revenue: NT$1.86b (up 13% from 3Q 2023). Net income: NT$285.3m (down 2.3% from 3Q 2023). Profit margin: 15% (down from 18% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in Taiwan. 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 53% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 22
Kinik Company to Report Q3, 2024 Results on Oct 29, 2024 Kinik Company announced that they will report Q3, 2024 results on Oct 29, 2024 Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$375, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 25x in the Machinery industry in Taiwan. Total returns to shareholders of 457% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$696 per share. Price Target Changed • Aug 16
Price target increased by 18% to NT$360 Up from NT$304, the current price target is an average from 4 analysts. New target price is 7.1% above last closing price of NT$336. Stock is up 170% over the past year. The company is forecast to post earnings per share of NT$7.85 for next year compared to NT$5.91 last year. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$327, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 26x in the Machinery industry in Taiwan. Total returns to shareholders of 451% over the past three years. Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: NT$1.75 (vs NT$1.54 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.75 (up from NT$1.54 in 2Q 2023). Revenue: NT$1.73b (up 9.9% from 2Q 2023). Net income: NT$253.7m (up 15% from 2Q 2023). Profit margin: 15% (in line with 2Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 27
Kinik Company to Report Q2, 2024 Results on Jul 31, 2024 Kinik Company announced that they will report Q2, 2024 results on Jul 31, 2024 Declared Dividend • Jun 28
Dividend of NT$4.00 announced Shareholders will receive a dividend of NT$4.00. Ex-date: 11th July 2024 Payment date: 2nd August 2024 Dividend yield will be 1.2%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 1.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 132% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 27
Kinik Company Announces Common Stock Dividend Distribution, Payable on August 02, 2024 Kinik Company announced that the company on the ex-dividend base date. Type and monetary amount of common stock dividend distribution: Total common stock cash dividends are TWD 580,082,000 (TWD 4 per share). Ex-rights (ex-dividend) trading date is July 11, 2024. Ex-rights (ex-dividend) record date is July 07, 2024. Payment date of common stock cash dividend distribution is August 08, 2024. Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: NT$1.77 (vs NT$1.24 in 1Q 2023) First quarter 2024 results: EPS: NT$1.77 (up from NT$1.24 in 1Q 2023). Revenue: NT$1.60b (up 2.1% from 1Q 2023). Net income: NT$256.7m (up 44% from 1Q 2023). Profit margin: 16% (up from 11% in 1Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 26
Kinik Company announced that it expects to receive TWD 1 billion in funding Kinik Company announced a private placement of series 1 domestic unsecured convertible corporate bonds for gross proceeds of TWD 1,000,000,000 on April 24, 2024. The bonds carry a coupon rate of 0%. The transaction has been approved by the board of directors of the company. Buy Or Sell Opportunity • Apr 24
Now 31% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to NT$243. The fair value is estimated to be NT$185, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 108% in the next 2 years. Announcement • Apr 19
Kinik Company to Report Q1, 2024 Results on Apr 24, 2024 Kinik Company announced that they will report Q1, 2024 results on Apr 24, 2024 Reported Earnings • Mar 03
Full year 2023 earnings released: EPS: NT$5.91 (vs NT$8.71 in FY 2022) Full year 2023 results: EPS: NT$5.91 (down from NT$8.71 in FY 2022). Revenue: NT$6.38b (down 7.6% from FY 2022). Net income: NT$852.1m (down 32% from FY 2022). Profit margin: 13% (down from 18% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 29
Price target increased by 17% to NT$252 Up from NT$215, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$258. Stock is up 127% over the past year. The company is forecast to post earnings per share of NT$5.92 for next year compared to NT$8.71 last year. Announcement • Feb 29
Kinik Company Approves Dividend Distribution Plan for the Year Ended December 31, 2023 Kinik Company approved dividend distribution plan for the year ended December 31, 2023. Date of the board of directors resolution is February 27, 2024. Appropriations of earnings in cash dividends to shareholders is TWD 2.5 per share. Total amount of cash distributed to shareholders is TWD 580,082,000. Cash distributed from legal reserve and capital surplus to shareholders is TWD 1.5 per share. Announcement • Feb 28
Kinik Company, Annual General Meeting, Jun 24, 2024 Kinik Company, Annual General Meeting, Jun 24, 2024. Location: No. 64, Zhongshan Rd., Yingge Dist. New Taipei City Taiwan Agenda: To consider the 2023 Business Report and 2024 Business Outlook Report; to consider the audit committee’s review report on the 2023 financial statements; to consider the 2023 Remuneration for Directors and employees compensation; to consider the distribution report on cash disbursement from Capital Surplus; to consider the distribution report on cash dividends from earnings for the year 2023; to ratify the 2023 financial statements; to ratify the 2023 Earnings Distribution Plan; and to consider the other resolutions. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$276, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 28x in the Machinery industry in Taiwan. Total returns to shareholders of 337% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$252 per share. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$220, the stock trades at a trailing P/E ratio of 35.9x. Average forward P/E is 21x in the Machinery industry in Taiwan. Total returns to shareholders of 278% over the past three years. New Risk • Jan 30
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 5.6% 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. This is currently the only risk that has been identified for the company. New Risk • Dec 05
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. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: NT$2.02 (vs NT$2.44 in 3Q 2022) Third quarter 2023 results: EPS: NT$2.02 (down from NT$2.44 in 3Q 2022). Revenue: NT$1.65b (down 9.2% from 3Q 2022). Net income: NT$292.1m (down 16% from 3Q 2022). Profit margin: 18% (down from 19% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Sep 28
Price target increased by 16% to NT$151 Up from NT$130, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of NT$155. Stock is up 29% over the past year. The company posted earnings per share of NT$8.71 last year. Buying Opportunity • Aug 24
Now 20% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be NT$160, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 31%. Buying Opportunity • Aug 09
Now 20% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be NT$159, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 31%. New Risk • Aug 03
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 6.2% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: NT$1.54 (vs NT$2.72 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.54 (down from NT$2.72 in 2Q 2022). Revenue: NT$1.58b (down 15% from 2Q 2022). Net income: NT$221.3m (down 43% from 2Q 2022). Profit margin: 14% (down from 21% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Machinery industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 29% per year. Announcement • Jul 27
Kinik Company Announces Sustainable Development Committee Changes Kinik Company announced the change in one member of the Sustainable Development Committee. Name of the previous position holder: JUNG-CHE,HSIEH /Chief Executive Officer of the Company. Name of the new position holder: WEN-LIANG,PAI, Vice Chairman of the Company. Effective date of the new member is July 26, 2023. Any other matters that need to be specified:The term of the new position holder is the same as that of the previous position holder. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$143, the stock trades at a trailing P/E ratio of 18.5x. Average forward P/E is 25x in the Machinery industry in Taiwan. Total returns to shareholders of 140% over the past three years. Upcoming Dividend • Jul 06
Upcoming dividend of NT$4.00 per share at 3.2% yield Eligible shareholders must have bought the stock before 13 July 2023. Payment date: 28 July 2023. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.4%). In line with average of industry peers (3.0%). Announcement • Jun 22
Kinik Company Announces Cash Dividend, Payable on July 28, 2023 Kinik Company announced common stock cash dividends of TWD 576,239,000 (TWD 4 per share). Ex-rights (ex-dividend) record date is July 19, 2023. Ex-rights (ex-dividend) trading date is July 13, 2023. Payment date of cash dividend distribution is July 28, 2023. Reported Earnings • May 03
First quarter 2023 earnings released: EPS: NT$1.24 (vs NT$2.20 in 1Q 2022) First quarter 2023 results: EPS: NT$1.24 (down from NT$2.20 in 1Q 2022). Revenue: NT$1.56b (down 5.0% from 1Q 2022). Net income: NT$178.8m (down 43% from 1Q 2022). Profit margin: 11% (down from 19% in 1Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: NT$8.71 (vs NT$4.78 in FY 2021) Full year 2022 results: EPS: NT$8.71 (up from NT$4.78 in FY 2021). Revenue: NT$6.91b (up 15% from FY 2021). Net income: NT$1.25b (up 84% from FY 2021). Profit margin: 18% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improved over the past week After last week's 16% share price gain to NT$128, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 12x in the Machinery industry in Taiwan. Total returns to shareholders of 109% over the past three years. 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 Wen-Yi Hsiao was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: NT$2.43 (vs NT$1.13 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.43 (up from NT$1.13 in 3Q 2021). Revenue: NT$1.82b (up 18% from 3Q 2021). Net income: NT$349.3m (up 117% from 3Q 2021). Profit margin: 19% (up from 10% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% 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 • Sep 29
Price target increased to NT$165 Up from NT$143, the current price target is provided by 1 analyst. New target price is 38% above last closing price of NT$120. Stock is up 66% over the past year. The company posted earnings per share of NT$4.78 last year. Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: NT$2.72 (vs NT$0.98 in 2Q 2021) Second quarter 2022 results: EPS: NT$2.72 (up from NT$0.98 in 2Q 2021). Revenue: NT$1.86b (up 25% from 2Q 2021). Net income: NT$389.0m (up 181% from 2Q 2021). Profit margin: 21% (up from 9.3% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 17% share price gain to NT$150, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 13x in the Machinery industry in Taiwan. Total returns to shareholders of 182% over the past three years. Upcoming Dividend • Jul 07
Upcoming dividend of NT$2.80 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (6.8%). Lower than average of industry peers (3.5%). Valuation Update With 7 Day Price Move • May 27
Investor sentiment improved over the past week After last week's 19% share price gain to NT$153, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 14x in the Machinery industry in Taiwan. Total returns to shareholders of 195% over the past three years. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: NT$2.20 (vs NT$1.05 in 1Q 2021) First quarter 2022 results: EPS: NT$2.20 (up from NT$1.05 in 1Q 2021). Revenue: NT$1.64b (up 12% from 1Q 2021). Net income: NT$313.4m (up 111% from 1Q 2021). Profit margin: 19% (up from 10% in 1Q 2021). The increase in margin was driven by higher revenue. 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 25% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target increased to NT$143 Up from NT$109, the current price target is provided by 1 analyst. New target price is 16% above last closing price of NT$123. Stock is up 65% over the past year. The company posted earnings per share of NT$4.78 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. 4 non-independent directors. Independent Director Wen-Yi Hsiao was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$4.78 (up from NT$3.63 in FY 2020). Revenue: NT$6.03b (up 17% from FY 2020). Net income: NT$676.6m (up 32% from FY 2020). Profit margin: 11% (up from 9.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Feb 26
Kinik Company, Annual General Meeting, Jun 22, 2022 Kinik Company, Annual General Meeting, Jun 22, 2022. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improved over the past week After last week's 15% share price gain to NT$113, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total returns to shareholders of 120% over the past three years. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 18% share price gain to NT$107, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 16x in the Machinery industry in Taiwan. Total returns to shareholders of 113% over the past three years. Reported Earnings • Jul 31
Second quarter 2021 earnings released: EPS NT$0.98 (vs NT$0.95 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$1.49b (up 14% from 2Q 2020). Net income: NT$138.3m (up 2.8% from 2Q 2020). Profit margin: 9.3% (down from 10% 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 11% 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 • Jul 21
Upcoming dividend of NT$2.80 per share Eligible shareholders must have bought the stock before 28 July 2021. Payment date: 20 August 2021. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.4%). Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS NT$1.05 (vs NT$0.92 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: NT$1.46b (up 19% from 1Q 2020). Net income: NT$148.8m (up 14% from 1Q 2020). Profit margin: 10% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 25
Full year 2020 earnings released: EPS NT$3.63 (vs NT$3.81 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$5.16b (up 5.9% from FY 2019). Net income: NT$512.3m (down 4.5% from FY 2019). Profit margin: 9.9% (down from 11% 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 13% 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. 
