Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$92.10, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 67% over the past three years. Bekanntmachung • Mar 09
Forcecon Technology Co., Ltd., Annual General Meeting, May 25, 2026 Forcecon Technology Co., Ltd., Annual General Meeting, May 25, 2026, at 09:00 Taipei Standard Time. Location: 9 floor no,35, hsin t`ai rd., jhubei city, hsinchu county Taiwan New Risk • Mar 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.1% Last year net profit margin: 7.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (134% cash payout ratio). Profit margins are more than 30% lower than last year (4.1% net profit margin). Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: NT$1.62 (vs NT$1.15 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.62 (up from NT$1.15 in 3Q 2024). Revenue: NT$2.59b (up 1.0% from 3Q 2024). Net income: NT$160.1m (up 45% from 3Q 2024). Profit margin: 6.2% (up from 4.3% in 3Q 2024). 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 27% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$96.00, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 22x in the Tech industry in Taiwan. Total returns to shareholders of 136% over the past three years. Upcoming Dividend • Sep 02
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 09 September 2025. Payment date: 09 October 2025. Payout ratio is a comfortable 62% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.8%). Reported Earnings • Aug 15
Second quarter 2025 earnings released: EPS: NT$1.45 (vs NT$2.72 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.45 (down from NT$2.72 in 2Q 2024). Revenue: NT$2.51b (up 15% from 2Q 2024). Net income: NT$143.8m (down 36% from 2Q 2024). Profit margin: 5.7% (down from 10% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.3% Last year net profit margin: 8.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (162% cash payout ratio). Profit margins are more than 30% lower than last year (5.3% net profit margin). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$124, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 19x in the Tech industry in Taiwan. Total returns to shareholders of 91% over the past three years. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$0.06 (vs NT$1.61 in 1Q 2024) First quarter 2025 results: EPS: NT$0.06 (down from NT$1.61 in 1Q 2024). Revenue: NT$1.78b (down 6.8% from 1Q 2024). Net income: NT$4.88m (down 96% from 1Q 2024). Profit margin: 0.3% (down from 6.9% in 1Q 2024). 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 16% per year, which means it is tracking significantly ahead of earnings growth. Bekanntmachung • May 06
Forcecon Technology Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 Forcecon Technology Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$114, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 79% over the past three years. 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$103, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 40% over the past three years. 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 6.4% 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 Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change). Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: NT$8.27 (vs NT$8.03 in FY 2023) Full year 2024 results: EPS: NT$8.27 (up from NT$8.03 in FY 2023). Revenue: NT$9.00b (up 7.9% from FY 2023). Net income: NT$696.5m (up 9.4% from FY 2023). Profit margin: 7.7% (up from 7.6% in FY 2023). The increase in margin was driven by higher revenue. 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 22% per year, which means it is tracking significantly ahead of earnings growth. Bekanntmachung • Mar 04
Forcecon Technology Co., Ltd. to Report Fiscal Year 2024 Results on Mar 11, 2025 Forcecon Technology Co., Ltd. announced that they will report fiscal year 2024 results on Mar 11, 2025 Bekanntmachung • Jan 17
Forcecon Technology Co., Ltd., Annual General Meeting, May 27, 2025 Forcecon Technology Co., Ltd., Annual General Meeting, May 27, 2025. Location: 9 floor no,35, hsin t`ai rd., jhubei city, hsinchu county Taiwan Bekanntmachung • Oct 30
Forcecon Technology Co., Ltd. to Report Q3, 2024 Results on Nov 06, 2024 Forcecon Technology Co., Ltd. announced that they will report Q3, 2024 results on Nov 06, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$2.72 (vs NT$3.33 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.72 (down from NT$3.33 in 2Q 2023). Revenue: NT$2.18b (up 7.7% from 2Q 2023). Net income: NT$225.6m (down 13% from 2Q 2023). Profit margin: 10% (down from 13% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$139, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 20x in the Tech industry in Taiwan. Total returns to shareholders of 94% over the past three years. Upcoming Dividend • Jul 31
Upcoming dividend of NT$5.05 per share Eligible shareholders must have bought the stock before 07 August 2024. Payment date: 06 September 2024. Payout ratio is a comfortable 55% and the cash payout ratio is 100%. Trailing yield: 3.1%. Lower than top quartile of Taiwanese dividend payers (4.4%). In line with average of industry peers (3.2%). Bekanntmachung • Jul 31
Forcecon Technology Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Forcecon Technology Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Declared Dividend • Jul 08
Dividend increased to NT$5.05 Dividend of NT$5.05 is 27% higher than last year. Ex-date: 7th August 2024 Payment date: 6th September 2024 Dividend yield will be 2.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (54% earnings payout ratio) but not covered by cash flows (131% cash payout ratio). The dividend has increased by an average of 46% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 48% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$229, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 24x in the Tech industry in Taiwan. Total returns to shareholders of 204% over the past three years. New Risk • Jun 20
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 6.8% 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 Dividend is not well covered by cash flows (131% cash payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Bekanntmachung • Jun 08
Forcecon Technology Co., Ltd. Announces Changes to the Remuneration Committee Forcecon Technology Co., Ltd. board of directors resolved on the appointment of members of the sixth Remuneration Committee. Name of the previous position holder: Huang, Hsian-Fang; Chou, Rong-Hua; Resume of the previous position holder: Huang, Hsian-Fang/Independent director of Forcecon Technology Co., Ltd. Chou, Rong-Hua/Retired professfor of National Cheng Kung University. Name of the new position holder: Yang, Shi-Jin; Hsin-Fang. Resume of the new position holder: Yang, Shi-Jin/Professor, Department of Mechanical Engineering, National Taiwan University. Chung,Hsin-Fang/CPA, BO XING CPA Firm. Effective date of the new member: June 06, 2024. Bekanntmachung • May 31
Forcecon Technology Co., Ltd. Announces Changes to Audit Committee Forcecon Technology Co., Ltd. announced changes to Audit Committee. Name of the previous position holder: Huang, Hsian-Fang, Chou, Rong-Hua, Wu, Ying-Chi, Yang, Shi-Jin. Resume of the previous position holder: Huang, Hsian-Fang/Independent director of Forcecon Technology Co., Ltd., Chou, Rong-Hua/Retired professfor of National Cheng Kung University. Name of the new position holder: Chung,Hsin-Fang, Yang, Shi-Jin, Wu, Ying-Chi, Ouyang, Chia-Li. Resume of the new position holder: Chung,Hsin-Fang/CPA, BO XING CPA Firm, Ouyang, Chia-Li/Global Managing Director, HTC Corporation. Reason for the change: Comprehensive re-election at the end of the term. Effective date of the new appointment is May 29, 2024. Original term is from July 7, 2021 to July 6, 2024. Bekanntmachung • May 30
Forcecon Technology Co., Ltd. Announces Board Changes Forcecon Technology Co., Ltd. at its AGM held on May 29, 2024 announced board changes. Title and name of the previous position holder: Directors: Chen, Chong-Ruei. Independent directors: Huang, Hsian-Fang, Chou, Rong-Hua. Resume of the previous position holder: Chen, Chong-Ruei/Chairman of Ruei Chan Industrial Economics Research Company. Huang, Hsian-Fang/Independent director of Forcecon Technology Co., Ltd. Chou, Rong-Hua/Retired professfor of National Cheng Kung University. Title and name of the new position holder: Directors: Wu, Jun-Hsien. Independent directors: Chung,Hsin-Fang, Ouyang, Chia-Li. Resume of the new position holder: Wu, Jun-Hsien/Deputy general manager of Forcecon Technology Co., Ltd. Chung,Hsin-Fang/CPA, BO XING CPA Firm. Ouyang, Chia-Li/Global Managing Director, HTC Corporation. Effective date of the new appointment is May 29, 2024. Reason for the change:Term expired and full re-election. Original term is from July 7, 2021 to July 6, 2024. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$188, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 23x in the Tech industry in Taiwan. Total returns to shareholders of 136% over the past three years. Bekanntmachung • May 16
Forcecon Technology Co., Ltd. has filed a Follow-on Equity Offering. Forcecon Technology Co., Ltd. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 2,343,750
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 312,500
Transaction Features: Rights Offering Reported Earnings • May 14
First quarter 2024 earnings released: EPS: NT$1.61 (vs NT$0.40 in 1Q 2023) First quarter 2024 results: EPS: NT$1.61 (up from NT$0.40 in 1Q 2023). Revenue: NT$1.91b (up 11% from 1Q 2023). Net income: NT$132.4m (up 321% from 1Q 2023). Profit margin: 6.9% (up from 1.8% in 1Q 2023). The increase in margin was driven by higher revenue. 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 28% per year. Bekanntmachung • Apr 28
Forcecon Technology Co., Ltd. to Report Q1, 2024 Results on May 07, 2024 Forcecon Technology Co., Ltd. announced that they will report Q1, 2024 results on May 07, 2024 Reported Earnings • Mar 12
Full year 2023 earnings released: EPS: NT$8.03 (vs NT$6.40 in FY 2022) Full year 2023 results: EPS: NT$8.03 (up from NT$6.40 in FY 2022). Revenue: NT$8.34b (up 12% from FY 2022). Net income: NT$636.5m (up 28% from FY 2022). Profit margin: 7.6% (up from 6.7% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 17% per year. Bekanntmachung • Mar 09
Forcecon Technology Co., Ltd. Announces Cash Dividend for the Year Ended December 31, 2023 Forcecon Technology Co., Ltd. announced cash dividend for the year ended December 31, 2023 is TWD 5 per share. Total amount of cash dividends to shareholders is TWD 432,573,945. Bekanntmachung • Jan 13
Forcecon Technology Co., Ltd., Annual General Meeting, May 29, 2024 Forcecon Technology Co., Ltd., Annual General Meeting, May 29, 2024. Location: 9F, No. 35, Xintai Road, Zhubei City Hsinchu China Agenda: To consider 2023 Business Report; to consider Audit Committee's review of the 2023 annual final accounting ledgers and statements; to consider report on 2023 employees' and directors' remuneration; to consider convertible bond implementation status report; to consider earnings distribution-cash dividend report; and to consider other business issues. New Risk • Nov 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.1% 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 Dividend is not well covered by cash flows (121% cash payout ratio). Share price has been volatile over the past 3 months (7.1% average weekly change). Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$167, the stock trades at a trailing P/E ratio of 21.2x. Average forward P/E is 17x in the Tech industry in Taiwan. Total returns to shareholders of 175% over the past three years. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$3.43 (vs NT$2.06 in 3Q 2022) Third quarter 2023 results: EPS: NT$3.43 (up from NT$2.06 in 3Q 2022). Revenue: NT$2.50b (up 33% from 3Q 2022). Net income: NT$268.7m (up 67% from 3Q 2022). Profit margin: 11% (up from 8.5% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 37% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Tech industry in Taiwan. 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 30% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$3.33 (vs NT$1.92 in 2Q 2022) Second quarter 2023 results: EPS: NT$3.33 (up from NT$1.92 in 2Q 2022). Revenue: NT$2.02b (up 9.3% from 2Q 2022). Net income: NT$258.6m (up 73% from 2Q 2022). Profit margin: 13% (up from 8.1% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Tech 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 25% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$158, the stock trades at a trailing P/E ratio of 31x. Average forward P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 136% over the past three years. Upcoming Dividend • Jul 20
Upcoming dividend of NT$3.98 per share at 2.9% yield Eligible shareholders must have bought the stock before 27 July 2023. Payment date: 30 August 2023. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.3%). New Risk • Jul 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.2% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to NT$110, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 21x in the Tech industry in Taiwan. Total returns to shareholders of 98% over the past three years. Bekanntmachung • Jun 30
Forcecon Technology Co., Ltd. Announces Cash Dividend Payable on August 30, 2023 Forcecon Technology Co., Ltd. announced a cash dividend of TWD 312,560,940. Ex-rights (Ex-dividend) date is July 27, 2023. Ex-rights (Ex-dividend) record date is August 4, 2023. Payment date of cash dividend distribution is August 30, 2023. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$83.80, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 17x in the Tech industry in Taiwan. Total returns to shareholders of 69% over the past three years. Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: NT$6.40 (vs NT$5.34 in FY 2021) Full year 2022 results: EPS: NT$6.40 (up from NT$5.34 in FY 2021). Revenue: NT$7.42b (down 5.1% from FY 2021). Net income: NT$498.7m (up 25% from FY 2021). Profit margin: 6.7% (up from 5.1% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 27% per year and the company’s share price has also increased by 27% per year. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: NT$2.06 (vs NT$1.36 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.06 (up from NT$1.36 in 3Q 2021). Revenue: NT$1.88b (down 10% from 3Q 2021). Net income: NT$160.6m (up 59% from 3Q 2021). Profit margin: 8.5% (up from 4.8% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$47.00, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 12x in the Tech industry in Taiwan. Total returns to shareholders of 9.1% over the past three years. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: NT$1.92 (vs NT$1.22 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.92 (up from NT$1.22 in 2Q 2021). Revenue: NT$1.85b (up 9.3% from 2Q 2021). Net income: NT$149.7m (up 66% from 2Q 2021). Profit margin: 8.1% (up from 5.3% 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 34% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 15
Upcoming dividend of NT$3.00 per share Eligible shareholders must have bought the stock before 22 July 2022. Payment date: 24 August 2022. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.8%). Lower than average of industry peers (7.5%). Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$55.60, the stock trades at a trailing P/E ratio of 8.9x. Average forward P/E is 9x in the Tech industry in Taiwan. Total returns to shareholders of 92% over the past three years. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: NT$1.74 (vs NT$0.67 in 1Q 2021) First quarter 2022 results: EPS: NT$1.74 (up from NT$0.67 in 1Q 2021). Revenue: NT$1.98b (up 26% from 1Q 2021). Net income: NT$135.3m (up 173% from 1Q 2021). Profit margin: 6.8% (up from 3.1% 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 36% per year whereas the company’s share price has increased by 38% per year. Bekanntmachung • May 13
Forcecon Technology Co., Ltd. Approves Original Dividend Distribution Forcecon Technology Co., Ltd. announced the Appropriations of earnings in cash dividends to shareholders is TWD 2.5 per share. Bekanntmachung • Apr 03
Forcecon Technology Co., Ltd. Approves Cash Dividend for 2021 Forcecon Technology Co., Ltd. approved the Cash dividend is TWD 2.5 per share for 2021. Reported Earnings • Mar 31
Full year 2021 earnings released: EPS: NT$5.34 (vs NT$4.15 in FY 2020) Full year 2021 results: EPS: NT$5.34 (up from NT$4.15 in FY 2020). Revenue: NT$7.82b (up 33% from FY 2020). Net income: NT$400.0m (up 35% from FY 2020). Profit margin: 5.1% (in line with FY 2020). Over the next year, revenue is forecast to grow 13%, compared to a 8.3% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 15% share price gain to NT$105, the stock trades at a trailing P/E ratio of 29.2x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 497% over the past three years. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improved over the past week After last week's 23% share price gain to NT$92.00, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 449% over the past three years. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS NT$1.36 (vs NT$1.35 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: NT$2.10b (up 22% from 3Q 2020). Net income: NT$101.2m (up 2.5% from 3Q 2020). Profit margin: 4.8% (down from 5.7% 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 46% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 18% share price gain to NT$80.20, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 14x in the Tech industry in Taiwan. Total returns to shareholders of 426% over the past three years. Upcoming Dividend • Sep 16
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 23 September 2021. Payment date: 27 October 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (5.4%). Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$1.28 (vs NT$2.30 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$1.69b (up 6.0% from 2Q 2020). Net income: NT$90.3m (down 41% from 2Q 2020). Profit margin: 5.3% (down from 9.6% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 60% per year whereas the company’s share price has increased by 64% per year. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 17% share price gain to NT$101, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 15x in the Tech industry in Taiwan. Total returns to shareholders of 458% over the past three years. Reported Earnings • May 08
First quarter 2021 earnings released: EPS NT$0.70 (vs NT$0.082 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.58b (up 75% from 1Q 2020). Net income: NT$49.6m (up NT$44.4m from 1Q 2020). Profit margin: 3.1% (up from 0.6% 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 77% per year whereas the company’s share price has increased by 76% per year. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$99.90, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 18x in the Tech industry in Taiwan. Total returns to shareholders of 447% over the past three years. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improved over the past week After last week's 16% share price gain to NT$124, the stock trades at a trailing P/E ratio of 28.3x. Average trailing P/E is 17x in the Tech industry in Taiwan. Total returns to shareholders of 447% over the past three years. Analyst Estimate Surprise Post Earnings • Mar 07
Revenue beats expectations Revenue exceeded analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 12%, compared to a 6.0% growth forecast for the Tech industry in Taiwan. Bekanntmachung • Mar 05
Forcecon Technology Co., Ltd., Annual General Meeting, Jun 16, 2021 Forcecon Technology Co., Ltd., Annual General Meeting, Jun 16, 2021. Reported Earnings • Mar 05
Full year 2020 earnings released: EPS NT$4.36 (vs NT$2.83 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$5.86b (up 21% from FY 2019). Net income: NT$295.4m (up 69% from FY 2019). Profit margin: 5.0% (up from 3.6% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 71% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 31% share price gain to NT$113, the stock is trading at a trailing P/E ratio of 23.6x, up from the previous P/E ratio of 18x. This compares to an average P/E of 15x in the Tech industry in Taiwan. Total returns to shareholders over the past three years are 452%. Is New 90 Day High Low • Feb 23
New 90-day high: NT$113 The company is up 62% from its price of NT$69.80 on 25 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improved over the past week After last week's 18% share price gain to NT$86.10, the stock is trading at a trailing P/E ratio of 18x, up from the previous P/E ratio of 15.2x. This compares to an average P/E of 14x in the Tech industry in Taiwan. Total returns to shareholders over the past three years are 366%. Is New 90 Day High Low • Feb 06
New 90-day high: NT$86.10 The company is up 22% from its price of NT$70.30 on 06 November 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 13
New 90-day high: NT$80.50 The company is up 3.0% from its price of NT$78.50 on 16 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 9.0% over the same period. Is New 90 Day High Low • Dec 15
New 90-day low: NT$63.60 The company is down 23% from its price of NT$82.80 on 17 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 3.0% over the same period. Is New 90 Day High Low • Nov 27
New 90-day low: NT$68.50 The company is down 17% from its price of NT$82.21 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is down 1.0% over the same period. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS NT$1.42 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$1.72b (up 23% from 3Q 2019). Net income: NT$98.7m (down 3.8% from 3Q 2019). Profit margin: 5.7% (down from 7.3% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Sep 18
New 90-day high: NT$85.50 The company is up 52% from its price of NT$56.27 on 19 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 4.0% over the same period.