Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$107, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 19x in the Luxury industry in Taiwan. Total loss to shareholders of 21% over the past three years. Upcoming Dividend • Jul 09
Upcoming dividend of NT$4.05 per share Eligible shareholders must have bought the stock before 16 July 2026. Payment date: 14 August 2026. Payout ratio is a comfortable 48% and the cash payout ratio is 77%. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (4.7%). Reported Earnings • May 12
First quarter 2026 earnings released: EPS: NT$2.00 (vs NT$2.05 in 1Q 2025) First quarter 2026 results: EPS: NT$2.00. Revenue: NT$1.81b (up 2.1% from 1Q 2025). Net income: NT$98.7m (up 27% from 1Q 2025). Profit margin: 5.4% (up from 4.4% in 1Q 2025). Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$99.70, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 16x in the Luxury industry in Taiwan. Total loss to shareholders of 3.9% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$7.73 (vs NT$1.73 in FY 2024) Full year 2025 results: EPS: NT$7.73 (up from NT$1.73 in FY 2024). Revenue: NT$7.00b (up 29% from FY 2024). Net income: NT$294.1m (up 348% from FY 2024). Profit margin: 4.2% (up from 1.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% 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. New Risk • Mar 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.14b (US$98.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$3.14b market cap, or US$98.7m). Ankündigung • Mar 10
TST Group Holding Ltd., Annual General Meeting, Jun 17, 2026 TST Group Holding Ltd., Annual General Meeting, Jun 17, 2026, at 09:00 Taipei Standard Time. Location: 2 floor no,99, fu hsing n. rd., songshan district, taipei city Taiwan Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$82.60, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 17x in the Luxury industry in Taiwan. Total loss to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$106, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 19x in the Luxury industry in Taiwan. Total returns to shareholders of 17% over the past three years. Reported Earnings • Nov 16
Third quarter 2025 earnings released: EPS: NT$3.74 (vs NT$0.80 in 3Q 2024) Third quarter 2025 results: EPS: NT$3.74 (up from NT$0.80 in 3Q 2024). Revenue: NT$1.91b (up 38% from 3Q 2024). Net income: NT$142.2m (up 372% from 3Q 2024). Profit margin: 7.4% (up from 2.2% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 27
Second quarter 2025 earnings released: EPS: NT$1.92 (vs NT$1.13 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.92 (up from NT$1.13 in 2Q 2024). Revenue: NT$1.94b (up 26% from 2Q 2024). Net income: NT$72.9m (up 70% from 2Q 2024). Profit margin: 3.8% (up from 2.8% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 23
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 30 July 2025. Payment date: 28 August 2025. Payout ratio is on the higher end at 96% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (4.7%). Declared Dividend • Jul 04
Dividend reduced to NT$2.00 Dividend of NT$2.00 is 50% lower than last year. Ex-date: 30th July 2025 Payment date: 28th August 2025 Dividend yield will be 2.1%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (96% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 6.9% to bring the payout ratio under control. However, EPS has declined by 28% over the last 5 years so the company would need to reverse this trend. New Risk • May 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Paying a dividend despite having no free cash flows. Earnings have declined by 13% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). Reported Earnings • May 09
First quarter 2025 earnings released: EPS: NT$2.05 (vs NT$1.71 in 1Q 2024) First quarter 2025 results: EPS: NT$2.05 (up from NT$1.71 in 1Q 2024). Revenue: NT$1.78b (up 28% from 1Q 2024). Net income: NT$78.0m (up 21% from 1Q 2024). Profit margin: 4.4% (down from 4.6% 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 37% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Ankündigung • May 01
TST Group Holding Ltd. to Report Q1, 2025 Results on May 08, 2025 TST Group Holding Ltd. announced that they will report Q1, 2025 results on May 08, 2025 Buy Or Sell Opportunity • Apr 30
Now 22% overvalued Over the last 90 days, the stock has fallen 12% to NT$86.10. The fair value is estimated to be NT$70.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has declined by 25%. Buy Or Sell Opportunity • Apr 10
Now 20% overvalued Over the last 90 days, the stock has fallen 16% to NT$85.20. The fair value is estimated to be NT$70.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has declined by 25%. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$77.60, the stock trades at a trailing P/E ratio of 45x. Average trailing P/E is 16x in the Luxury industry in Taiwan. Total loss to shareholders of 23% over the past three years. New Risk • Apr 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.26b (US$98.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Paying a dividend despite having no free cash flows. Earnings have declined by 8.4% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (NT$3.26b market cap, or US$98.6m). Ankündigung • Mar 31
TST Group Holding Ltd., Annual General Meeting, Jun 19, 2025 TST Group Holding Ltd., Annual General Meeting, Jun 19, 2025, at 09:00 Taipei Standard Time. Location: 6 floor no,99, fu hsing n. rd., songshan district, taipei city Taiwan Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: NT$1.73 (vs NT$10.82 in FY 2023) Full year 2024 results: EPS: NT$1.73 (down from NT$10.82 in FY 2023). Revenue: NT$5.42b (up 4.4% from FY 2023). Net income: NT$65.7m (down 84% from FY 2023). Profit margin: 1.2% (down from 7.9% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Ankündigung • Mar 05
TST Group Holding Ltd. to Report Fiscal Year 2024 Results on Mar 12, 2025 TST Group Holding Ltd. announced that they will report fiscal year 2024 results on Mar 12, 2025 Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$0.80 (vs NT$1.47 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.80 (down from NT$1.47 in 3Q 2023). Revenue: NT$1.39b (up 10.0% from 3Q 2023). Net income: NT$30.1m (down 46% from 3Q 2023). Profit margin: 2.2% (down from 4.4% 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 13% per year whereas the company’s share price has fallen by 9% per year. Buy Or Sell Opportunity • Nov 11
Now 21% overvalued Over the last 90 days, the stock has fallen 8.4% to NT$91.00. The fair value is estimated to be NT$75.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 6.8%. Ankündigung • Nov 06
TST Group Holding Ltd. to Report Q3, 2024 Results on Nov 13, 2024 TST Group Holding Ltd. announced that they will report Q3, 2024 results on Nov 13, 2024 Buy Or Sell Opportunity • Sep 19
Now 20% overvalued Over the last 90 days, the stock has fallen 18% to NT$91.50. The fair value is estimated to be NT$76.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years, while earnings per share has been flat. Ankündigung • Aug 17
TST Group Holding Ltd. to Report Q2, 2024 Results on Aug 26, 2024 TST Group Holding Ltd. announced that they will report Q2, 2024 results on Aug 26, 2024 Upcoming Dividend • Jul 18
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 25 July 2024. Payment date: 23 August 2024. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.0%). Reported Earnings • May 11
First quarter 2024 earnings released: EPS: NT$1.70 (vs NT$4.21 in 1Q 2023) First quarter 2024 results: EPS: NT$1.70 (down from NT$4.21 in 1Q 2023). Revenue: NT$1.39b (down 4.8% from 1Q 2023). Net income: NT$64.6m (down 59% from 1Q 2023). Profit margin: 4.6% (down from 11% in 1Q 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year. Ankündigung • May 02
TST Group Holding Ltd. to Report Q1, 2024 Results on May 09, 2024 TST Group Holding Ltd. announced that they will report Q1, 2024 results on May 09, 2024 Reported Earnings • Mar 15
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: NT$10.82 (down from NT$11.74 in FY 2022). Revenue: NT$5.19b (down 30% from FY 2022). Net income: NT$408.2m (down 7.7% from FY 2022). Profit margin: 7.9% (up from 6.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 9.9%. 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 6% per year, which means it is significantly lagging earnings. Ankündigung • Mar 14
TST Group Holding Ltd., Annual General Meeting, Jun 19, 2024 TST Group Holding Ltd., Annual General Meeting, Jun 19, 2024. Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: NT$1.47 (down from NT$3.32 in 3Q 2022). Revenue: NT$1.26b (down 34% from 3Q 2022). Net income: NT$55.3m (down 56% from 3Q 2022). Profit margin: 4.4% (down from 6.5% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Luxury industry in Taiwan. 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 4% per year. Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: NT$4.82 (vs NT$3.36 in 2Q 2022) Second quarter 2023 results: EPS: NT$4.82 (up from NT$3.36 in 2Q 2022). Revenue: NT$1.49b (down 36% from 2Q 2022). Net income: NT$181.7m (up 44% from 2Q 2022). Profit margin: 12% (up from 5.4% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Luxury 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 7% per year. New Risk • Aug 13
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: 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). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$153, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 21x in the Luxury industry in Taiwan. Total returns to shareholders of 52% over the past three years. Upcoming Dividend • Jun 28
Upcoming dividend of NT$7.00 per share at 5.3% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 03 August 2023. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 5.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.4%). Ankündigung • Jun 16
TST Group Holding Ltd. Announces Dividend for the Year 2022, Payable on August 3, 2023 TST Group Holding Ltd. announced a cash dividend of cash dividends to common shareholders TWD 268,056,600 (TWD 7 allocated per share). Ex-rights (ex-dividend) trading date is on July 5, 2023. Ex-rights (ex-dividend) record date is on July 11, 2023. Payment date of cash dividend distribution is on August 3, 2023. Reported Earnings • May 13
First quarter 2023 earnings released First quarter 2023 results: Revenue: NT$1.46b (down 30% from 1Q 2022). Net income: NT$158.6m (up 18% from 1Q 2022). Profit margin: 11% (up from 6.5% in 1Q 2022). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$129, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 16x in the Luxury industry in Taiwan. Total returns to shareholders of 34% over the past three years. Board Change • Nov 16
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. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director King-Biau Lien was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 19
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$3.36 (up from NT$2.04 in 2Q 2021). Revenue: NT$2.32b (up 28% from 2Q 2021). Net income: NT$126.5m (up 65% from 2Q 2021). Profit margin: 5.4% (up from 4.2% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Ankündigung • Aug 18
TST Group Holding Ltd. Announces Executive Changes TST Group Holding Ltd. announced the 2nd term Audit Committee Convenor. Name of the previous position holder: King-Biau Lien. Resume of the previous position holder: Independent Director, Tainan Enterprises Co. Ltd. Name of the new position holder: Heng-Yih Liu. Resume of the new position holder: Full-time Associate Professor, College of Management, Yuan Ze University. Effective date of the new member is August 17, 2022. Any other matters that need to be specified: The members of the Audit Committee elected Heng-Yih Liu as the convener. Upcoming Dividend • Jul 05
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 12 July 2022. Payment date: 16 August 2022. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (4.0%). Ankündigung • Jun 16
TST Group Holding Ltd. Approves Cash Dividend for 2021 TST Group Holding Ltd. announced that at its shareholders meeting held on June 15, 2022, approved ratification of the proposal of 2021 earnings distribution that distributing dividends at TWD 4.5 in cash dividends per share and TWD 2 in stock dividends per share. Reported Earnings • May 17
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$4.29 (up from NT$4.03 in 1Q 2021). Revenue: NT$2.07b (up 38% from 1Q 2021). Net income: NT$134.5m (up 6.4% from 1Q 2021). Profit margin: 6.5% (down from 8.4% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates by 13%. 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 King-Biau Lien 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. Ankündigung • Mar 23
TST Group Holding Ltd., Annual General Meeting, Jun 15, 2022 TST Group Holding Ltd., Annual General Meeting, Jun 15, 2022. Location: 15F., No. 99, Fuxing N. Rd., Songshan Dist. Taipei City Taiwan Agenda: To consider the business report for 2021; to consider audit committee’s review report on the 2021 financial statements; to consider report on distribution of employees’ and directors’ 2021 remuneration; to consider the report on business performance and consolidated financial statements for 2021; to proposed distribution of earnings for 2021; to consider the amendments to part of the “Regulations Governing the Acquisition and Disposal of Assets; to discuss issue of new shares via capitalization of retained earnings for 2021; to consider the election of directors and independent directors; and other matters (if any). Buying Opportunity • Feb 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be NT$155, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.2% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS NT$3.16 (vs NT$6.16 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$2.27b (up 38% from 3Q 2020). Net income: NT$99.0m (down 49% from 3Q 2020). Profit margin: 4.4% (down from 12% in 3Q 2020). The decrease in margin was driven by higher expenses. Upcoming Dividend • Aug 30
Upcoming dividend of NT$6.50 per share Eligible shareholders must have bought the stock before 06 September 2021. Payment date: 07 October 2021. Trailing yield: 4.5%. Lower than top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.6%). Reported Earnings • Aug 20
Second quarter 2021 earnings released: EPS NT$2.45 (vs NT$1.59 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$1.81b (up 70% from 2Q 2020). Net income: NT$76.8m (up 54% from 2Q 2020). Profit margin: 4.2% (down from 4.7% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$4.03 (vs NT$3.06 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.51b (up 5.7% from 1Q 2020). Net income: NT$126.4m (up 31% from 1Q 2020). Profit margin: 8.4% (up from 6.8% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS NT$13.25 (vs NT$13.92 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$5.39b (down 27% from FY 2019). Net income: NT$416.0m (up 7.2% from FY 2019). Profit margin: 7.7% (up from 5.3% in FY 2019). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Mar 11
New 90-day high: NT$161 The company is up 3.0% from its price of NT$156 on 11 December 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 4.0% over the same period. Valuation Update With 7 Day Price Move • Nov 27
Market bids up stock over the past week After last week's 20% share price gain to NT$169, the stock is trading at a trailing P/E ratio of 14.2x, up from the previous P/E ratio of 11.9x. This compares to an average P/E of 20x in the Luxury industry in Taiwan. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 103%. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS NT$6.16 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$1.64b (down 22% from 3Q 2019). Net income: NT$193.1m (up 43% from 3Q 2019). Profit margin: 12% (up from 6.5% in 3Q 2019). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Sep 24
New 90-day low: NT$114 The company is down 20% from its price of NT$142 on 24 June 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 2.0% over the same period.