Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$173, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 29x in the Machinery industry in Taiwan. Total returns to shareholders of 121% over the past three years. Upcoming Dividend • Jul 02
Upcoming dividend of NT$5.50 per share Eligible shareholders must have bought the stock before 09 July 2026. Payment date: 03 August 2026. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (1.6%). Declared Dividend • Jun 12
Dividend of NT$5.50 announced Shareholders will receive a dividend of NT$5.50. Ex-date: 9th July 2026 Payment date: 3rd August 2026 Dividend yield will be 2.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 24% per year over the past 6 years. However, payments have been volatile during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 20
First quarter 2026 earnings released: EPS: NT$2.58 (vs NT$2.40 in 1Q 2025) First quarter 2026 results: EPS: NT$2.58 (up from NT$2.40 in 1Q 2025). Revenue: NT$623.6m (down 13% from 1Q 2025). Net income: NT$108.8m (up 7.5% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$254, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 30x in the Machinery industry in Taiwan. Total returns to shareholders of 388% over the past three years. New Risk • Apr 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.6% average weekly change). Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$234, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 25x in the Machinery industry in Taiwan. Total returns to shareholders of 316% over the past three years. Reported Earnings • Mar 17
Full year 2025 earnings released: EPS: NT$9.93 (vs NT$8.96 in FY 2024) Full year 2025 results: EPS: NT$9.93 (up from NT$8.96 in FY 2024). Revenue: NT$2.86b (up 27% from FY 2024). Net income: NT$418.3m (up 11% from FY 2024). Profit margin: 15% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Anuncio • Mar 04
Desiccant Technology Corporation, Annual General Meeting, May 20, 2026 Desiccant Technology Corporation, Annual General Meeting, May 20, 2026, at 09:00 Taipei Standard Time. Location: 17 floor no,88, chung shan rd., jhongli district, taoyuan city Taiwan Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$213, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 26x in the Machinery industry in Taiwan. Total returns to shareholders of 334% over the past three years. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$171, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 24x in the Machinery industry in Taiwan. Total returns to shareholders of 240% over the past three years. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$2.23 (vs NT$2.03 in 3Q 2024) Third quarter 2025 results: EPS: NT$2.23 (up from NT$2.03 in 3Q 2024). Revenue: NT$733.5m (up 38% from 3Q 2024). Net income: NT$93.9m (up 10.0% from 3Q 2024). Profit margin: 13% (down from 16% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$2.24 (vs NT$2.05 in 2Q 2024) Second quarter 2025 results: EPS: NT$2.24 (up from NT$2.05 in 2Q 2024). Revenue: NT$664.7m (up 46% from 2Q 2024). Net income: NT$94.5m (up 9.4% from 2Q 2024). Profit margin: 14% (down from 19% 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 18% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 03
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 10 July 2025. Payment date: 01 August 2025. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Taiwanese dividend payers (5.3%). In line with average of industry peers (2.8%). Declared Dividend • Jun 12
Dividend of NT$4.50 announced Shareholders will receive a dividend of NT$4.50. Ex-date: 10th July 2025 Payment date: 1st August 2025 Dividend yield will be 3.0%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 22% per year over the past 5 years. However, payments have been volatile during that time. Earnings per share has grown by 35% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Anuncio • May 23
Desiccant Technology Corporation Approves Board Elections Desiccant Technology Corporation approved the election of CHENG, SHIH-CHIH as Director and CHANG, JUNG-MING, HSIUE, JUNG-SHENG and HUNG, SHENG-HAO as Independent Directors, at its 2025 shareholders’ meeting held on May 22, 2025. 14th-term Board of Directors of the Company - Directors: CHENG, SHIH-CHIH, CHEN, HSIN-HUAN, LEE, LAI MING-CHU and Independent Directors: CHANG, JUNG-MING, GUO, ZI-HONG, HSIUE, JUNG-SHENG, and HUNG, SHENG-HAO. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: NT$2.64 (vs NT$2.22 in 1Q 2024) First quarter 2025 results: EPS: NT$2.64 (up from NT$2.22 in 1Q 2024). Revenue: NT$720.3m (up 31% from 1Q 2024). Net income: NT$101.2m (up 19% from 1Q 2024). Profit margin: 14% (down from 15% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Anuncio • May 06
Desiccant Technology Corporation to Report Q1, 2025 Results on May 13, 2025 Desiccant Technology Corporation announced that they will report Q1, 2025 results on May 13, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$126, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total returns to shareholders of 129% over the past three years. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$9.86 (vs NT$8.87 in FY 2023) Full year 2024 results: EPS: NT$9.86 (up from NT$8.87 in FY 2023). Revenue: NT$2.25b (up 7.5% from FY 2023). Net income: NT$377.3m (up 24% from FY 2023). Profit margin: 17% (up from 15% 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 24% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Anuncio • Mar 05
Desiccant Technology Corporation, Annual General Meeting, May 22, 2025 Desiccant Technology Corporation, Annual General Meeting, May 22, 2025, at 10:00 Taipei Standard Time. Location: 17 floor no,88, chung shan rd., jhongli district, taoyuan city Taiwan Anuncio • Feb 25
Desiccant Technology Corporation to Report Fiscal Year 2024 Results on Mar 04, 2025 Desiccant Technology Corporation announced that they will report fiscal year 2024 results on Mar 04, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$2.23 (vs NT$1.84 in 3Q 2023) Third quarter 2024 results: EPS: NT$2.23 (up from NT$1.84 in 3Q 2023). Revenue: NT$532.4m (up 31% from 3Q 2023). Net income: NT$85.3m (up 37% from 3Q 2023). Profit margin: 16% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Anuncio • Nov 05
Desiccant Technology Corporation to Report Q3, 2024 Results on Nov 12, 2024 Desiccant Technology Corporation announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$2.26 (vs NT$2.41 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.26. Revenue: NT$454.1m (up 14% from 2Q 2023). Net income: NT$86.3m (up 5.9% from 2Q 2023). Profit margin: 19% (down from 20% in 2Q 2023). The decrease in margin was driven by higher expenses. Anuncio • Aug 07
Desiccant Technology Corporation to Report Q2, 2024 Results on Aug 12, 2024 Desiccant Technology Corporation announced that they will report Q2, 2024 results on Aug 12, 2024 Upcoming Dividend • Jul 05
Upcoming dividend of NT$4.50 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 05 August 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (4.2%). In line with average of industry peers (2.4%). Declared Dividend • Jun 20
Dividend of NT$4.50 announced Shareholders will receive a dividend of NT$4.50. Ex-date: 11th July 2024 Payment date: 5th August 2024 Dividend yield will be 2.6%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 25% per year over the past 4 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: NT$2.45 (vs NT$2.07 in 1Q 2023) First quarter 2024 results: EPS: NT$2.45 (up from NT$2.07 in 1Q 2023). Revenue: NT$551.5m (down 13% from 1Q 2023). Net income: NT$85.1m (up 34% from 1Q 2023). Profit margin: 15% (up from 10.0% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$9.75 (vs NT$7.90 in FY 2022) Full year 2023 results: EPS: NT$9.75 (up from NT$7.90 in FY 2022). Revenue: NT$2.09b (up 3.7% from FY 2022). Net income: NT$305.1m (up 26% from FY 2022). Profit margin: 15% (up from 12% in FY 2022). Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 30% per year. Anuncio • Mar 13
Desiccant Technology Corporation, Annual General Meeting, Jun 07, 2024 Desiccant Technology Corporation, Annual General Meeting, Jun 07, 2024. Location: 17F., No. 88, Zhongshan Rd., Zhongli Dist Taoyuan City Taiwan Agenda: To consider 2023 business report; to consider audit committee's review of the 2023 annual final accounting books and statements; to consider report on 2023 employees' and directors' remuneration; to consider report on the performance assessments and remuneration for directors and managers; to consider amendment of the rules governing procedure for board of directors meetings of DTECH; to consider 2023 business report and financial statements; to consider 2023 earnings distribution; to consider amendment the rules of procedure for shareholders' meetings of DTECH; to consider proposal for the issuance of new shares for stock dividends; and to consider other issues. New Risk • Jan 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% 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: Major Risk Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (13% increase in shares outstanding). Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$138, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 18x in the Machinery industry in Taiwan. Total returns to shareholders of 242% over the past three years. New Risk • Nov 22
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 8.0% 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 (8.0% 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 • Nov 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$121, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total returns to shareholders of 213% over the past three years. New Risk • Oct 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.23b (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$3.23b market cap, or US$99.7m). Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$2.65 (vs NT$1.65 in 2Q 2022) Second quarter 2023 results: EPS: NT$2.65 (up from NT$1.65 in 2Q 2022). Revenue: NT$398.9m (down 22% from 2Q 2022). Net income: NT$81.5m (up 61% from 2Q 2022). Profit margin: 20% (up from 10.0% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$125, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 17x in the Machinery industry in Taiwan. Total returns to shareholders of 200% over the past three years. Upcoming Dividend • Jun 29
Upcoming dividend of NT$3.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 03 August 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (3.1%). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$95.30, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 16x in the Machinery industry in Taiwan. Total returns to shareholders of 131% over the past three years. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$79.30, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 14x in the Machinery industry in Taiwan. Total returns to shareholders of 96% over the past three years. Reported Earnings • Apr 26
Full year 2022 earnings released Full year 2022 results: Revenue: NT$2.02b (up 37% from FY 2021). Net income: NT$242.0m (up 67% from FY 2021). Profit margin: 12% (up from 9.9% in FY 2021). The increase in margin was driven by higher revenue. Upcoming Dividend • Jun 24
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 01 July 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 28% but the company is paying out more than the cash it is generating. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (3.3%). Reported Earnings • May 04
Full year 2021 earnings released: EPS: NT$5.42 (vs NT$4.33 in FY 2020) Full year 2021 results: EPS: NT$5.42 (up from NT$4.33 in FY 2020). Revenue: NT$1.47b (up 32% from FY 2020). Net income: NT$145.3m (up 25% from FY 2020). Profit margin: 9.9% (in line with FY 2020). Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improved over the past week After last week's 16% share price gain to NT$67.50, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 16x in the Machinery industry in Taiwan. Total returns to shareholders of 44% over the past year. Reported Earnings • Aug 18
First half 2021 earnings released: EPS NT$2.99 (vs NT$1.47 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: NT$710.7m (up 34% from 1H 2020). Net income: NT$80.1m (up 104% from 1H 2020). Profit margin: 11% (up from 7.4% in 1H 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Jul 23
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 30 July 2021. Payment date: 18 August 2021. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (4.9%). In line with average of industry peers (2.4%). Valuation Update With 7 Day Price Move • May 21
Investor sentiment improved over the past week After last week's 20% share price gain to NT$71.80, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 16x in the Machinery industry in Taiwan. Total returns to shareholders of 50% over the past year. Reported Earnings • May 02
Full year 2020 earnings released: EPS NT$4.33 (vs NT$2.80 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.11b (up 5.2% from FY 2019). Net income: NT$115.9m (up 73% from FY 2019). Profit margin: 10% (up from 6.3% in FY 2019). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 25% share price gain to NT$70.30, the stock is trading at a trailing P/E ratio of 25.2x, up from the previous P/E ratio of 20.2x. This compares to an average P/E of 20x in the Machinery industry in Taiwan. Total returns to shareholders over the past year are 70%. Is New 90 Day High Low • Feb 26
New 90-day high: NT$59.50 The company is up 24% from its price of NT$48.00 on 27 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 17% over the same period. Is New 90 Day High Low • Jan 02
New 90-day high: NT$50.60 The company is up 4.0% from its price of NT$48.80 on 05 October 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 18% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: NT$41.00 The company is down 20% from its price of NT$51.00 on 24 June 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 7.0% over the same period.