Reported Earnings • Mar 14
Full year 2025 earnings released: NT$1.06 loss per share (vs NT$0.22 loss in FY 2024) Full year 2025 results: NT$1.06 loss per share (further deteriorated from NT$0.22 loss in FY 2024). Revenue: NT$2.11b (up 4.2% from FY 2024). Net loss: NT$121.4m (loss widened 390% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Ankündigung • Jan 23
Billion Electric Co., Ltd., Annual General Meeting, May 21, 2026 Billion Electric Co., Ltd., Annual General Meeting, May 21, 2026. Location: 8 floor no,192, sec.2 chung hsing rd., sindian district, new taipei city Taiwan Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$28.25, the stock trades at a trailing P/E ratio of 64.5x. Average trailing P/E is 23x in the Communications industry in Taiwan. Total loss to shareholders of 21% over the past three years. Ankündigung • Jan 02
Billion Electric Co., Ltd. Announces Resignation of Directors and Supervisor At Billion Watts Technologies Co., Ltd., Effective December 31, 2025 Billion Electric Co., Ltd. announced the resignation of directors and supervisor on behalf of its major subsidiary, Billion Watts Technologies Co., Ltd. The directors who resigned are Xiao Qi-Ren, Director, General Administration Office, Billion Electric Co., Ltd.; Qiu She-Li, Director, PEM Business Division, Billion Electric Co., Ltd.; Cai Qiong-Ru, Manager, Legal Department, Billion Electric Co., Ltd.; Lin Jun-Hong, Manager, Accounting Department, Billion Electric Co., Ltd. The supervisor who resigned is Hu Zhe-Yi, Deputy Manager, Accounting Department, Billion Electric Co., Ltd. The change was due to an amendment of the Articles of Association regarding the number of directors and supervisors. The original term was from December 31, 2025 to December 30, 2028. The date of occurrence of the change was December 31, 2025. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: NT$0.44 (vs NT$0.48 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.44 (up from NT$0.48 loss in 3Q 2024). Revenue: NT$395.9m (down 26% from 3Q 2024). Net income: NT$51.0m (up NT$105.4m from 3Q 2024). Profit margin: 13% (up from net loss in 3Q 2024). 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 3% per year, which means it has not declined as severely as earnings. New Risk • Sep 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.02b (US$98.2m) 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 15% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.02b market cap, or US$98.2m). Reported Earnings • Aug 13
Second quarter 2025 earnings released: NT$0.45 loss per share (vs NT$0.18 loss in 2Q 2024) Second quarter 2025 results: NT$0.45 loss per share (further deteriorated from NT$0.18 loss in 2Q 2024). Revenue: NT$731.1m (up 68% from 2Q 2024). Net loss: NT$52.2m (loss widened 155% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings have declined by 5.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$0.32 (vs NT$0.30 in 1Q 2024) First quarter 2025 results: EPS: NT$0.32 (up from NT$0.30 in 1Q 2024). Revenue: NT$645.4m (up 22% from 1Q 2024). Net income: NT$36.2m (up 4.0% from 1Q 2024). Profit margin: 5.6% (down from 6.6% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Ankündigung • May 02
Billion Electric Co., Ltd. to Report Q1, 2025 Results on May 08, 2025 Billion Electric Co., Ltd. announced that they will report Q1, 2025 results on May 08, 2025 New Risk • Apr 07
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 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (NT$3.18b market cap, or US$96.2m). Ankündigung • Mar 14
Billion Electric Co., Ltd. Announces Board Changes Billion Electric Co., Ltd. announced appointment of Sino-American Silicon Products Inc.Legal representative CHEN, ZHENQIAN as Chairperson, effective date is March 13, 2025. Resume of the new position holder: Sino-American Sino-American Silicon Products Inc./general manager. Name of the previous position holder: Tim Chen. Resume of the previous position holder: Billion Electric Co., Ltd. /chairperson. Reason for the change: new appointment. Ankündigung • Mar 06
Billion Electric Co., Ltd. Announces Retirement of Tim Chen as Chairman/Director, Effective March 13, 2025 Billion Electric Co., Ltd. announced the retirement of Tim Chen as Chairman of the company. Mr. Tim Chen resigned as Chairman/Director on March 13, 2025. Ankündigung • Mar 03
Billion Electric Co., Ltd., Annual General Meeting, May 22, 2025 Billion Electric Co., Ltd., Annual General Meeting, May 22, 2025. Location: 16 floor no,192, sec.2 chung hsing rd., sindian district, new taipei city Taiwan Ankündigung • Feb 20
Billion Electric Co., Ltd. to Report Fiscal Year 2024 Results on Feb 27, 2025 Billion Electric Co., Ltd. announced that they will report fiscal year 2024 results on Feb 27, 2025 Ankündigung • Feb 19
Billion Electric Co., Ltd. Announces the Resignation of Ke,Yi-Shan as Director Billion Electric Co., Ltd. announced the resignation of Ke,Yi-Shan as Director, resigned from the position of director due to personal reasons. The company received the resignation letter on 2025/02/18, and the effective date of resignation is 2025/02/18. New Risk • Jan 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.29b (US$100.0m) 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.48 loss per share (vs NT$0.92 profit in 3Q 2023) Third quarter 2024 results: NT$0.48 loss per share (down from NT$0.92 profit in 3Q 2023). Revenue: NT$537.8m (up 15% from 3Q 2023). Net loss: NT$54.5m (down 152% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 13
Second quarter 2024 earnings released: NT$0.18 loss per share (vs NT$0.28 profit in 2Q 2023) Second quarter 2024 results: NT$0.18 loss per share (down from NT$0.28 profit in 2Q 2023). Revenue: NT$436.6m (down 27% from 2Q 2023). Net loss: NT$20.5m (down 165% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 10
Dividend of NT$0.37 announced Shareholders will receive a dividend of NT$0.37. Ex-date: 26th August 2024 Payment date: 23rd September 2024 Dividend yield will be 1.1%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 60% 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 • Aug 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$32.00, the stock trades at a trailing P/E ratio of 29.5x. Average trailing P/E is 25x in the Communications industry in Taiwan. Total returns to shareholders of 41% over the past three years. Ankündigung • Aug 02
Billion Electric Co., Ltd. to Report Q2, 2024 Results on Aug 08, 2024 Billion Electric Co., Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024 Ankündigung • May 30
Billion Electric Co., Ltd. Announces Board Changes Billion Electric Co., Ltd. announced board changes at Annual General Meeting on May 29, 2024. Title and name of the previous position holder: Director/Hong-Cheng Chen, Billion Electric Co., Ltd. Director; Director/Shih-Che Chien, Billion Electric Co., Ltd. Director; Director/Tsai, Kun-Chin, Billion Electric Co., Ltd. Director; Independent Director/Chun-Yao Li, Billion Electric Co., Ltd. Independent Director; Independent Director/Lin Chang Hua, Billion Electric Co., Ltd. Independent Director; Independent Director/Kuo-Hui Ning, Billion Electric Co., Ltd. Independent Director. Title and name of the new position holder: Director/Shu-Mei Chang, Billion Electric Co., Ltd. CFO; Director/Weng, Sheng-Hsien, Presiding lawyer of Hongqi Legal Firm; Director/Ke, Yi-Shan, Presiding lawyer of Li Kai Law Firm; Director/Yu-Chang Hung, Mao Hong power Chairman; Independent Director/Zheng Zhengyuan, Distinguished Professor, Department of Mechanical Engineering, engineering, National Taiwan University of Science and Technologyl Independent Director/Chan Sai Kit Kevin, Consultant, Chinese Arbitration Association Effective date of the new appointment is May 29, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.30 (vs NT$0.18 loss in 1Q 2023) First quarter 2024 results: EPS: NT$0.30 (up from NT$0.18 loss in 1Q 2023). Revenue: NT$528.9m (up 77% from 1Q 2023). Net income: NT$34.8m (up NT$52.7m from 1Q 2023). Profit margin: 6.6% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: NT$0.64 (vs NT$0.41 in FY 2022) Full year 2023 results: EPS: NT$0.64 (up from NT$0.41 in FY 2022). Revenue: NT$1.83b (up 51% from FY 2022). Net income: NT$71.1m (up 78% from FY 2022). Profit margin: 3.9% (up from 3.3% 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 31% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Ankündigung • Mar 12
Billion Electric Co., Ltd., Annual General Meeting, May 29, 2024 Billion Electric Co., Ltd., Annual General Meeting, May 29, 2024. Location: Meeting Room,16th Floor, No. 192, Section 2, Zhongxing Road, Xindian District, New Taipei City New Taipei City Taiwan Agenda: To consider the 2023 Business Report; to consider the Audit Committee's Review Report on the 2023 Financial Statements; to consider the Report on the implementation of the repurchase of treasury shares; to consider the Distribution of remuneration to employees and directors for 2023; to consider the Remuneration Report to Directors for 2023; to consider the 2023 Business Report and Financial Statements; to consider the 2023 Earnings Distribution. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$45.85, the stock trades at a trailing P/E ratio of 45.5x. Average trailing P/E is 29x in the Communications industry in Taiwan. Total returns to shareholders of 113% over the past three years. New Risk • Dec 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 158% 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: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (16% increase in shares outstanding). Board Change • Oct 05
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Chang-Huang Lin was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Upcoming Dividend • Aug 14
Upcoming dividend of NT$0.26 per share at 0.7% yield Eligible shareholders must have bought the stock before 21 August 2023. Payment date: 15 September 2023. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (5.6%). Lower than average of industry peers (2.9%). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.28 (vs NT$0.057 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.28 (up from NT$0.057 in 2Q 2022). Revenue: NT$598.0m (up 140% from 2Q 2022). Net income: NT$31.6m (up 467% from 2Q 2022). Profit margin: 5.3% (up from 2.2% in 2Q 2022). 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 44% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • Aug 04
Billion Electric Co., Ltd. Announces Cash Dividend, Payable on September 15, 2023 Billion Electric Co., Ltd. announced the cash dividend of TWD 29,387,343 (TWD 0.2582 per share). The dividend is payable on September 15, 2023 with Ex-rights (ex-dividend) trading date of August 21, 2023 and Ex-rights (ex-dividend) record date of August 27, 2023. Reported Earnings • Mar 29
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: NT$0.41 (up from NT$0.28 in FY 2021). Revenue: NT$1.21b (up 16% from FY 2021). Net income: NT$39.9m (up 48% from FY 2021). Profit margin: 3.3% (up from 2.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 54%. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 15% share price gain to NT$29.25, the stock trades at a trailing P/E ratio of 69.7x. Average trailing P/E is 14x in the Communications industry in Taiwan. Total returns to shareholders of 285% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.17 (vs NT$0.15 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.17 (up from NT$0.15 in 3Q 2021). Revenue: NT$330.5m (up 5.0% from 3Q 2021). Net income: NT$17.0m (up 19% from 3Q 2021). Profit margin: 5.1% (up from 4.5% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.17 (vs NT$0.15 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.17 (up from NT$0.15 in 3Q 2021). Revenue: NT$330.5m (up 5.0% from 3Q 2021). Net income: NT$17.0m (up 19% from 3Q 2021). Profit margin: 5.1% (up from 4.5% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 23% share price gain to NT$26.65, the stock trades at a trailing P/E ratio of 68.1x. Average trailing P/E is 18x in the Communications industry in Taiwan. Total returns to shareholders of 251% over the past three years. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 19% share price gain to NT$25.30, the stock trades at a trailing P/E ratio of 64.6x. Average trailing P/E is 19x in the Communications industry in Taiwan. Total returns to shareholders of 226% over the past three years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 29% share price gain to NT$27.95, the stock trades at a trailing P/E ratio of 71.4x. Average trailing P/E is 19x in the Communications industry in Taiwan. Total returns to shareholders of 275% over the past three years. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improved over the past week After last week's 16% share price gain to NT$21.95, the stock trades at a trailing P/E ratio of 56.1x. Average trailing P/E is 21x in the Communications industry in Taiwan. Total returns to shareholders of 192% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.06 (vs NT$0.10 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.06 (down from NT$0.10 in 2Q 2021). Revenue: NT$249.2m (flat on 2Q 2021). Net income: NT$5.58m (down 45% from 2Q 2021). Profit margin: 2.2% (down from 4.1% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 21% share price gain to NT$20.40, the stock trades at a trailing P/E ratio of 46.5x. Average trailing P/E is 20x in the Communications industry in Taiwan. Total returns to shareholders of 161% over the past three years. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.21 (vs NT$0.045 in 1Q 2021) First quarter 2022 results: EPS: NT$0.21 (up from NT$0.045 in 1Q 2021). Revenue: NT$252.7m (up 26% from 1Q 2021). Net income: NT$20.4m (up 358% from 1Q 2021). Profit margin: 8.1% (up from 2.2% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Chang-Huang Lin was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: NT$0.28 (vs NT$0.32 in FY 2020) Full year 2021 results: EPS: NT$0.28 (down from NT$0.32 in FY 2020). Revenue: NT$1.05b (up 23% from FY 2020). Net income: NT$27.0m (down 14% from FY 2020). Profit margin: 2.6% (down from 3.7% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Ankündigung • Mar 23
Billion Electric Co., Ltd., Annual General Meeting, Jun 09, 2022 Billion Electric Co., Ltd., Annual General Meeting, Jun 09, 2022. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS NT$0.15 (vs NT$0.29 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$314.6m (up 29% from 3Q 2020). Net income: NT$14.3m (down 50% from 3Q 2020). Profit margin: 4.5% (down from 12% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improved over the past week After last week's 15% share price gain to NT$24.50, the stock trades at a trailing P/E ratio of 76.6x. Average trailing P/E is 22x in the Communications industry in Taiwan. Total returns to shareholders of 206% over the past three years. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS NT$0.10 (vs NT$0.081 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$249.6m (up 19% from 2Q 2020). Net income: NT$10.2m (up 27% from 2Q 2020). Profit margin: 4.1% (up from 3.8% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.05 (vs NT$0.068 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: NT$200.7m (up 17% from 1Q 2020). Net income: NT$4.45m (down 34% from 1Q 2020). Profit margin: 2.2% (down from 3.9% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$21.45, the stock trades at a trailing P/E ratio of 67.9x. Average trailing P/E is 20x in the Communications industry in Taiwan. Total returns to shareholders of 124% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$0.32 (vs NT$0.20 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$849.8m (up 36% from FY 2019). Net income: NT$31.2m (up NT$51.5m from FY 2019). Profit margin: 3.7% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 22% share price gain to NT$22.00, the stock is trading at a trailing P/E ratio of 50.3x, up from the previous P/E ratio of 41.2x. This compares to an average P/E of 23x in the Communications industry in Taiwan. Total returns to shareholders over the past three years are 115%. Is New 90 Day High Low • Feb 01
New 90-day low: NT$17.05 The company is down 19% from its price of NT$21.15 on 03 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 19% over the same period. Is New 90 Day High Low • Jan 15
New 90-day low: NT$18.95 The company is down 17% from its price of NT$22.90 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 22% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.29 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$243.4m (up 64% from 3Q 2019). Net income: NT$28.7m (up NT$45.3m from 3Q 2019). Profit margin: 12% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 14
New 90-day high: NT$23.75 The company is up 88% from its price of NT$12.65 on 16 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is down 4.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day high: NT$22.20 The company is up 156% from its price of NT$8.68 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is up 2.0% over the same period.