New Risk • Aug 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 06
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: NT$3.87 (up from NT$1.39 in 2Q 2025). Revenue: NT$4.10b (up 25% from 2Q 2025). Net income: NT$641.8m (up 179% from 2Q 2025). Profit margin: 16% (up from 7.0% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 27% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 83% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$460, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 438% over the past three years. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to NT$621, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 627% over the past three years. Upcoming Dividend • Jun 15
Upcoming dividend of NT$5.80 per share Eligible shareholders must have bought the stock before 22 June 2026. Payment date: 17 July 2026. Payout ratio is a comfortable 75% but the company is paying out more than the cash it is generating. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (1.3%). Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to NT$590, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 25x in the Electronic industry in Taiwan. Total returns to shareholders of 601% over the past three years. Declared Dividend • May 27
Dividend increased to NT$5.80 Dividend of NT$5.80 is 5.5% higher than last year. Ex-date: 22nd June 2026 Payment date: 17th July 2026 Dividend yield will be 1.0%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (88% earnings payout ratio) but not covered by cash flows (108% cash payout ratio). The dividend has increased by an average of 2.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 66% over the next year, which should provide support to the dividend and adequate earnings cover. New Risk • May 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 15% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (108% cash payout ratio). Reported Earnings • May 07
First quarter 2026 earnings released: EPS: NT$2.00 (vs NT$1.68 in 1Q 2025) First quarter 2026 results: EPS: NT$2.00 (up from NT$1.68 in 1Q 2025). Revenue: NT$3.62b (up 6.4% from 1Q 2025). Net income: NT$474.6m (up 70% from 1Q 2025). Profit margin: 13% (up from 8.2% in 1Q 2025). Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 23% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$273, the stock trades at a trailing P/E ratio of 41.5x. Average forward P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 236% over the past three years. New Risk • Apr 08
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 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 16% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (119% cash payout ratio). Share price has been volatile over the past 3 months (8.5% average weekly change). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$167, the stock trades at a trailing P/E ratio of 25.4x. Average forward P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 97% over the past three years. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$122, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 26x in the Electronic industry in Taiwan. Total returns to shareholders of 52% over the past three years. Reported Earnings • Mar 05
Full year 2025 earnings released: EPS: NT$6.58 (vs NT$5.87 in FY 2024) Full year 2025 results: EPS: NT$6.58 (up from NT$5.87 in FY 2024). Revenue: NT$13.4b (up 5.0% from FY 2024). Net income: NT$1.09b (up 12% from FY 2024). Profit margin: 8.1% (up from 7.6% 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 1% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Ankündigung • Mar 05
Holy Stone Enterprise Co.,Ltd., Annual General Meeting, May 25, 2026 Holy Stone Enterprise Co.,Ltd., Annual General Meeting, May 25, 2026, at 09:00 Taipei Standard Time. Location: 7 floor no,17 ln.91, sec.1 nei hu rd., neihu district, taipei city Taiwan Buy Or Sell Opportunity • Mar 05
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 4.8% to NT$109. The fair value is estimated to be NT$88.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.0% over the last 3 years. Earnings per share has declined by 4.0%. New Risk • Nov 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (131% cash payout ratio). Share price has been volatile over the past 3 months (6.5% average weekly change). Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: NT$1.68 (vs NT$1.80 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.68 (down from NT$1.80 in 3Q 2024). Revenue: NT$3.43b (flat on 3Q 2024). Net income: NT$279.9m (down 6.2% from 3Q 2024). Profit margin: 8.2% (down from 8.8% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$120, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 72% over the past three years. Buy Or Sell Opportunity • Sep 19
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to NT$95.80. The fair value is estimated to be NT$75.68, 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. Earnings per share has declined by 17%. Reported Earnings • Aug 11
Second quarter 2025 earnings released: EPS: NT$1.39 (vs NT$1.38 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.39 (up from NT$1.38 in 2Q 2024). Revenue: NT$3.27b (up 1.0% from 2Q 2024). Net income: NT$230.0m (flat on 2Q 2024). Profit margin: 7.0% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 17% 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. Upcoming Dividend • Jun 16
Upcoming dividend of NT$5.50 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 18 July 2025. Payout ratio and cash payout ratio are on the higher end at 88% and 78% respectively. Trailing yield: 6.5%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (3.3%). Reported Earnings • May 08
First quarter 2025 earnings released: EPS: NT$1.68 (vs NT$1.31 in 1Q 2024) First quarter 2025 results: EPS: NT$1.68 (up from NT$1.31 in 1Q 2024). Revenue: NT$3.40b (up 16% from 1Q 2024). Net income: NT$278.5m (up 28% from 1Q 2024). Profit margin: 8.2% (up from 7.4% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Ankündigung • Apr 30
Holy Stone Enterprise Co.,Ltd. to Report Q1, 2025 Results on May 07, 2025 Holy Stone Enterprise Co.,Ltd. announced that they will report Q1, 2025 results on May 07, 2025 Buy Or Sell Opportunity • Apr 09
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to NT$72.10. The fair value is estimated to be NT$94.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 34%. New Risk • Mar 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 60% 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 Risk Earnings have declined by 6.5% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (94% payout ratio). Large one-off items impacting financial results. Reported Earnings • Mar 09
Full year 2024 earnings released: EPS: NT$5.87 (vs NT$5.13 in FY 2023) Full year 2024 results: EPS: NT$5.87 (up from NT$5.13 in FY 2023). Revenue: NT$12.8b (down 3.4% from FY 2023). Net income: NT$973.3m (up 14% from FY 2023). Profit margin: 7.6% (up from 6.4% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 34% 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. Ankündigung • Mar 04
Holy Stone Enterprise Co.,Ltd., Annual General Meeting, May 28, 2025 Holy Stone Enterprise Co.,Ltd., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: 7 floor no,17 ln.91, sec.1 nei hu rd., neihu district, taipei city Taiwan Ankündigung • Feb 20
Holy Stone Enterprise Co.,Ltd. to Report Fiscal Year 2024 Results on Feb 27, 2025 Holy Stone Enterprise Co.,Ltd. announced that they will report fiscal year 2024 results on Feb 27, 2025 New Risk • Dec 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 73% 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 Risk Earnings have declined by 4.7% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (101% payout ratio). Large one-off items impacting financial results. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: NT$1.80 (vs NT$1.10 in 3Q 2023) Third quarter 2024 results: EPS: NT$1.80 (up from NT$1.10 in 3Q 2023). Revenue: NT$3.41b (down 1.3% from 3Q 2023). Net income: NT$298.5m (up 64% from 3Q 2023). Profit margin: 8.8% (up from 5.3% in 3Q 2023). The increase in margin was driven by lower 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 7% per year, which means it has not declined as severely as earnings. Ankündigung • Oct 30
Holy Stone Enterprise Co.,Ltd. to Report Q3, 2024 Results on Nov 06, 2024 Holy Stone Enterprise Co.,Ltd. announced that they will report Q3, 2024 results on Nov 06, 2024 New Risk • Aug 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% 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 Risk Earnings have declined by 5.5% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (118% payout ratio). Large one-off items impacting financial results. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: NT$1.38 (vs NT$1.34 in 2Q 2023) Second quarter 2024 results: EPS: NT$1.38 (up from NT$1.34 in 2Q 2023). Revenue: NT$3.24b (down 3.1% from 2Q 2023). Net income: NT$229.0m (up 2.9% from 2Q 2023). Profit margin: 7.1% (up from 6.7% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 36% 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. Buy Or Sell Opportunity • Jul 31
Now 21% overvalued Over the last 90 days, the stock has fallen 8.0% to NT$89.00. The fair value is estimated to be NT$73.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.5% over the last 3 years. Earnings per share has declined by 29%. Ankündigung • Jul 31
Holy Stone Enterprise Co.,Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Holy Stone Enterprise Co.,Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Upcoming Dividend • Jun 17
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 24 June 2024. Payment date: 19 July 2024. The company is paying out more than 100% of its profits and is paying out 80% of its cash flow. Trailing yield: 5.0%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.7%). Ankündigung • Jun 01
Holy Stone Enterprise Co.,Ltd. Announces Distribution for 2023 Holy Stone Enterprise Co.,Ltd. Announced important resolutions for 2024, To accept the earnings distribution of 2023 announced cash dividend of TWD 5.0 per share distributed from earnings. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: NT$1.31 (vs NT$2.25 in 1Q 2023) First quarter 2024 results: EPS: NT$1.31 (down from NT$2.25 in 1Q 2023). Revenue: NT$2.94b (down 16% from 1Q 2023). Net income: NT$217.7m (down 42% from 1Q 2023). Profit margin: 7.4% (down from 11% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% 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. Ankündigung • May 01
Holy Stone Enterprise Co.,Ltd. to Report Q1, 2024 Results on May 07, 2024 Holy Stone Enterprise Co.,Ltd. announced that they will report Q1, 2024 results on May 07, 2024 Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: NT$5.13 (vs NT$7.42 in FY 2022) Full year 2023 results: EPS: NT$5.13 (down from NT$7.42 in FY 2022). Revenue: NT$13.2b (down 12% from FY 2022). Net income: NT$850.5m (down 31% from FY 2022). Profit margin: 6.4% (down from 8.2% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% 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. Ankündigung • Feb 28
Holy Stone Enterprise Co.,Ltd., Annual General Meeting, May 30, 2024 Holy Stone Enterprise Co.,Ltd., Annual General Meeting, May 30, 2024. Location: 7F, No.17, Lane 91, Section 1, NeiHu Road, NeiHu District 7F Conference Room, Chu Pao Building Taipei Taiwan Agenda: To consider 2023 business report; to consider audit committee audit report; to consider 2023 report on annual earnings distribution of cash dividends; to consider 2023 distribution of employees and directors' remuneration; to consider 2023 business reports and financial statements; to consider 2023 earnings Distribution; to consider the 16th Directors election; to consider the release of non-competition restriction of the Directors; and to consider other issues. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$1.34 (vs NT$2.19 in 2Q 2022) Second quarter 2023 results: EPS: NT$1.34 (down from NT$2.19 in 2Q 2022). Revenue: NT$3.34b (down 13% from 2Q 2022). Net income: NT$222.6m (down 39% from 2Q 2022). Profit margin: 6.7% (down from 9.5% in 2Q 2022). The decrease in margin was 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 3% per year. Upcoming Dividend • Jul 13
Upcoming dividend of NT$5.00 per share at 4.7% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 71% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.2%). Ankündigung • May 31
Holy Stone Enterprise Co.,Ltd. Appoints Independent Director, Jen-Wei Ko Holy Stone Enterprise Co.,Ltd. announced the appointment of Independent Director, Jen-Wei Ko. Resume of the new position holder: Chairman, co-founder and financial manager, Cheetahasia Inc. CPA, Weyong International CPAs & Co. Director, Chief Consultant Co. Ltd., Independent Director, Air Asia Co. Ltd., Independent Director, Wiltrom Co. Ltd. Effective date of the new appointment: May 30, 2023. Ankündigung • May 11
Holy Stone Enterprise Co.,Ltd. Appoints Shu-Ying Chang as Corporate Governance Officer Holy Stone Enterprise Co.,Ltd. announced the appointment of Shu-Ying Chang, director of finance and accounting department as corporate governance officer of the company, with effect from May 10, 2023. Reported Earnings • Mar 06
Full year 2022 earnings released: EPS: NT$7.79 (vs NT$12.36 in FY 2021) Full year 2022 results: EPS: NT$7.79 (down from NT$12.36 in FY 2021). Revenue: NT$15.1b (down 9.2% from FY 2021). Net income: NT$1.23b (down 37% from FY 2021). Profit margin: 8.2% (down from 12% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 03
Now 20% undervalued Over the last 90 days, the stock is up 2.4%. The fair value is estimated to be NT$113, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 26%. Buying Opportunity • Dec 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.2%. The fair value is estimated to be NT$113, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 26%. 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. 2 experienced directors. 8 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Nai-Hua Wu was the last independent director to join the board, commencing their role in 2004. 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 • Nov 06
Third quarter 2022 earnings released: EPS: NT$1.17 (vs NT$3.25 in 3Q 2021) Third quarter 2022 results: EPS: NT$1.17 (down from NT$3.25 in 3Q 2021). Revenue: NT$3.63b (down 15% from 3Q 2021). Net income: NT$183.8m (down 64% from 3Q 2021). Profit margin: 5.1% (down from 12% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 06
Second quarter 2022 earnings released: EPS: NT$2.29 (vs NT$3.68 in 2Q 2021) Second quarter 2022 results: EPS: NT$2.29 (down from NT$3.68 in 2Q 2021). Revenue: NT$3.84b (down 13% from 2Q 2021). Net income: NT$362.7m (down 38% from 2Q 2021). Profit margin: 9.5% (down from 13% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 11
Upcoming dividend of NT$9.00 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 12 August 2022. Payout ratio is a comfortable 75% but the company is not cash flow positive. Trailing yield: 9.3%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (4.8%). Ankündigung • May 29
Holy Stone Enterprise Co.,Ltd. Approves Cash Dividend for the Year 2021 Holy Stone Enterprise Co.,Ltd. at its shareholders meeting held on May 27, 2022, approved the cash dividend of TWD 9.0 per share distributed from earnings for the year 2021. Reported Earnings • May 07
First quarter 2022 earnings released: EPS: NT$3.12 (vs NT$3.45 in 1Q 2021) First quarter 2022 results: EPS: NT$3.12 (down from NT$3.45 in 1Q 2021). Revenue: NT$4.32b (down 2.1% from 1Q 2021). Net income: NT$492.4m (down 9.6% from 1Q 2021). Profit margin: 11% (down from 12% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 9 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Nai-Hua Wu was the last independent director to join the board, commencing their role in 2004. 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 • Mar 11
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: NT$12.36 (up from NT$8.31 in FY 2020). Revenue: NT$16.6b (up 12% from FY 2020). Net income: NT$1.95b (up 49% from FY 2020). Profit margin: 12% (up from 8.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 6.8%. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$3.24 (vs NT$2.54 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$4.28b (up 3.0% from 3Q 2020). Net income: NT$512.8m (up 28% from 3Q 2020). Profit margin: 12% (up from 9.6% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Aug 04
Second quarter 2021 earnings released: EPS NT$3.68 (vs NT$2.24 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$4.41b (up 21% from 2Q 2020). Net income: NT$581.3m (up 64% from 2Q 2020). Profit margin: 13% (up from 9.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% 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. Upcoming Dividend • Jul 15
Upcoming dividend of NT$8.00 per share Eligible shareholders must have bought the stock before 22 July 2021. Payment date: 18 August 2021. Trailing yield: 5.5%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$122, the stock trades at a trailing P/E ratio of 12.4x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 34% over the past three years. Reported Earnings • May 04
First quarter 2021 earnings released: EPS NT$3.45 (vs NT$1.94 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$4.41b (up 39% from 1Q 2020). Net income: NT$545.0m (up 78% from 1Q 2020). Profit margin: 12% (up from 9.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% 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. Ankündigung • Mar 11
Holy Stone Enterprise Co.,Ltd., Annual General Meeting, Jun 07, 2021 Holy Stone Enterprise Co.,Ltd., Annual General Meeting, Jun 07, 2021. Reported Earnings • Mar 11
Full year 2020 earnings released: EPS NT$8.31 (vs NT$5.02 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$14.8b (up 1.6% from FY 2019). Net income: NT$1.31b (up 66% from FY 2019). Profit margin: 8.8% (up from 5.4% in FY 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Ankündigung • Feb 27
Holy Stone Enterprise Co.,Ltd., Annual General Meeting, Feb 26, 2021 Holy Stone Enterprise Co.,Ltd., Annual General Meeting, Feb 26, 2021. Agenda: To consider Profit distribution/ deficit compensation; to consider Amendments to the corporate charter; to consider Business report and financial statements: Acknowledge 2020 Financial Report; to consider Elections for board of directors and supervisors; and to consider any other proposals. Is New 90 Day High Low • Feb 22
New 90-day high: NT$123 The company is up 7.0% from its price of NT$115 on 24 November 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 23% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: NT$121 The company is up 16% from its price of NT$104 on 10 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 12% over the same period. Is New 90 Day High Low • Nov 11
New 90-day high: NT$111 The company is up 1.0% from its price of NT$109 on 13 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electronic industry, which is down 3.0% over the same period. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS NT$2.54 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$4.16b (up 2.6% from 3Q 2019). Net income: NT$400.6m (up 17% from 3Q 2019). Profit margin: 9.6% (up from 8.5% in 3Q 2019). The increase in margin was driven by higher revenue. 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 21% per year, which means it is well ahead of earnings. Reported Earnings • Nov 05
Third quarter 2020 earnings released: EPS NT$2.54 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$4.16b (up 2.6% from 3Q 2019). Net income: NT$400.6m (up 17% from 3Q 2019). Profit margin: 9.6% (up from 8.5% in 3Q 2019). The increase in margin was driven by higher revenue. 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 21% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Sep 25
New 90-day low: NT$97.20 The company is down 23% from its price of NT$126 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 3.0% over the same period.