New Risk • Jul 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 9.5% 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 Interest payments are not well covered by earnings (0.5x net interest cover). Minor Risk Share price has been volatile over the past 3 months (9.5% average weekly change). Board Change • Jun 03
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Zheng-De Shao was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 15
First quarter 2026 earnings released: NT$0.58 loss per share (vs NT$0.018 profit in 1Q 2025) First quarter 2026 results: NT$0.58 loss per share (down from NT$0.018 profit in 1Q 2025). Revenue: NT$441.2m (up 158% from 1Q 2025). Net loss: NT$27.5m (down NT$28.4m from profit in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$0.39 (vs NT$2.76 in FY 2024) Full year 2025 results: EPS: NT$0.39 (down from NT$2.76 in FY 2024). Revenue: NT$1.23b (up 21% from FY 2024). Net income: NT$18.7m (down 86% from FY 2024). Profit margin: 1.5% (down from 13% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Anuncio • Mar 09
Ingentec Corporation, Annual General Meeting, May 27, 2026 Ingentec Corporation, Annual General Meeting, May 27, 2026. Location: no,106, kung yuan rd., jhunan township, miaoli county Taiwan Reported Earnings • Nov 14
Third quarter 2025 earnings released: NT$0.10 loss per share (vs NT$0.64 profit in 3Q 2024) Third quarter 2025 results: NT$0.10 loss per share (down from NT$0.64 profit in 3Q 2024). Revenue: NT$241.1m (down 7.6% from 3Q 2024). Net loss: NT$4.58m (down 115% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$0.01 loss per share (vs NT$0.69 profit in 2Q 2024) Second quarter 2025 results: NT$0.01 loss per share (down from NT$0.69 profit in 2Q 2024). Revenue: NT$169.3m (down 32% from 2Q 2024). Net loss: NT$507.0k (down 101% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 30% 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 • Jul 28
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 04 August 2025. Payment date: 05 September 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%). New Risk • Jul 16
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 6.6% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 206% Paying a dividend despite having no free cash flows. High level of non-cash earnings (21% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (9.3% net profit margin). Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$115, the stock trades at a trailing P/E ratio of 59x. Average trailing P/E is 19x in the Chemicals industry in Taiwan. Total returns to shareholders of 9.1% over the past three years. New Risk • May 17
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: 9.3% Last year net profit margin: 13% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 205% Paying a dividend despite having no free cash flows. High level of non-cash earnings (21% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (9.3% net profit margin). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to NT$106, the stock trades at a trailing P/E ratio of 36.5x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total returns to shareholders of 6.4% over the past three years. New Risk • Mar 23
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 124% Paying a dividend despite having no free cash flows. High level of non-cash earnings (21% accrual ratio). Reported Earnings • Mar 23
Full year 2024 earnings released: EPS: NT$2.90 (vs NT$2.63 in FY 2023) Full year 2024 results: EPS: NT$2.90 (up from NT$2.63 in FY 2023). Revenue: NT$1.02b (up 25% from FY 2023). Net income: NT$131.2m (up 21% from FY 2023). Profit margin: 13% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Anuncio • Mar 07
Ingentec Corporation, Annual General Meeting, May 27, 2025 Ingentec Corporation, Annual General Meeting, May 27, 2025. Location: no,106, kung yuan, jhunan township, miaoli county Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.67 (vs NT$0.53 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.67 (up from NT$0.53 in 3Q 2023). Revenue: NT$261.0m (up 54% from 3Q 2023). Net income: NT$30.4m (up 41% from 3Q 2023). Profit margin: 12% (down from 13% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 19
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 26 August 2024. Payment date: 30 September 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.4%). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.77 (vs NT$0.82 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.77. Revenue: NT$248.3m (up 24% from 2Q 2023). Net income: NT$33.0m (up 3.5% from 2Q 2023). Profit margin: 13% (down from 16% in 2Q 2023). The decrease in margin was driven by higher expenses. Reported Earnings • May 12
First quarter 2024 earnings released: EPS: NT$1.03 (vs NT$1.12 in 1Q 2023) First quarter 2024 results: EPS: NT$1.03. Revenue: NT$245.8m (flat on 1Q 2023). Net income: NT$44.3m (up 2.5% from 1Q 2023). Profit margin: 18% (in line with 1Q 2023). Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: NT$2.76 (vs NT$5.72 in FY 2022) Full year 2023 results: EPS: NT$2.76 (down from NT$5.72 in FY 2022). Revenue: NT$815.2m (down 25% from FY 2022). Net income: NT$108.3m (down 50% from FY 2022). Profit margin: 13% (down from 20% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Anuncio • Mar 19
Ingentec Corporation, Annual General Meeting, Jun 19, 2024 Ingentec Corporation, Annual General Meeting, Jun 19, 2024. New Risk • Mar 19
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 6.0% 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 (6.0% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). New Risk • Dec 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 108% Paying a dividend despite having no free cash flows. Dividend is not well covered by earnings and cash flows. Payout ratio: 108% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Share price has been volatile over the past 3 months (6.0% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). New Risk • Oct 03
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 Dividend is not well covered by cash flows (187% cash payout ratio). Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$209, the stock trades at a trailing P/E ratio of 34.1x. Average trailing P/E is 25x in the Chemicals industry in Taiwan. Total returns to shareholders of 54% over the past three years. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$0.82 (vs NT$1.04 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.82 (down from NT$1.04 in 2Q 2022). Revenue: NT$200.7m (down 13% from 2Q 2022). Net income: NT$31.9m (down 20% from 2Q 2022). Profit margin: 16% (down from 17% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. New Risk • Jul 19
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 6.3% 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 High level of non-cash earnings (21% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$232, the stock trades at a trailing P/E ratio of 36.7x. Average trailing P/E is 22x in the Chemicals industry in Taiwan. Total returns to shareholders of 38% over the past three years. Upcoming Dividend • Jul 10
Upcoming dividend of NT$4.50 per share at 2.2% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 10 August 2023. Payout ratio is a comfortable 68% but the company is paying out more than the cash it is generating. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.8%). Reported Earnings • Mar 16
Full year 2022 earnings released: EPS: NT$6.00 (vs NT$2.08 in FY 2021) Full year 2022 results: EPS: NT$6.00 (up from NT$2.08 in FY 2021). Revenue: NT$1.09b (up 55% from FY 2021). Net income: NT$215.0m (up 217% from FY 2021). Profit margin: 20% (up from 9.7% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$176, the stock trades at a trailing P/E ratio of 37.7x. Average trailing P/E is 14x in the Chemicals industry in Taiwan. Total returns to shareholders of 466% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$2.86 (vs NT$0.69 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.86 (up from NT$0.69 in 3Q 2021). Revenue: NT$352.5m (up 60% from 3Q 2021). Net income: NT$105.7m (up 369% from 3Q 2021). Profit margin: 30% (up from 10% in 3Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$2.86 (vs NT$0.69 in 3Q 2021) Third quarter 2022 results: EPS: NT$2.86 (up from NT$0.69 in 3Q 2021). Revenue: NT$352.5m (up 60% from 3Q 2021). Net income: NT$105.7m (up 369% from 3Q 2021). Profit margin: 30% (up from 10% in 3Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to NT$170, the stock trades at a trailing P/E ratio of 70.3x. Average forward P/E is 12x in the Chemicals industry in Taiwan. Total returns to shareholders of 73% over the past year. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improved over the past week After last week's 24% share price gain to NT$155, the stock trades at a trailing P/E ratio of 62.4x. Average forward P/E is 13x in the Chemicals industry in Taiwan. Total returns to shareholders of 40% over the past year. Upcoming Dividend • Aug 18
Upcoming dividend of NT$1.70 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 29 September 2022. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (7.7%). Reported Earnings • Aug 15
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$1.13. Net income: NT$39.9m (up NT$39.9m from 2Q 2021). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 74%. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$118, the stock trades at a trailing P/E ratio of 61.6x. Average forward P/E is 12x in the Chemicals industry in Taiwan. Total returns to shareholders of 25% over the past year. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 21% share price gain to NT$134, the stock trades at a trailing P/E ratio of 70x. Average forward P/E is 13x in the Chemicals industry in Taiwan. Total returns to shareholders of 31% over the past year. Reported Earnings • May 16
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: NT$0.41 (down from NT$0.51 in 1Q 2021). Revenue: NT$186.4m (up 21% from 1Q 2021). Net income: NT$12.9m (down 18% from 1Q 2021). Profit margin: 6.9% (down from 10% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) missed analyst estimates by 16%. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 16% share price gain to NT$121, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 14x in the Chemicals industry in Taiwan. Total loss to shareholders of 7.9% over the past year. Anuncio • Apr 16
Ingentec Corporation, Annual General Meeting, Jun 29, 2022 Ingentec Corporation, Annual General Meeting, Jun 29, 2022. Reported Earnings • Mar 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$2.15 (up from NT$1.70 in FY 2020). Revenue: NT$700.4m (up 31% from FY 2020). Net income: NT$67.8m (up 30% from FY 2020). Profit margin: 9.7% (in line with FY 2020). Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 16% share price gain to NT$158, the stock trades at a trailing P/E ratio of 79.1x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total returns to shareholders of 11% over the past year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.71 (vs NT$0.47 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$220.4m (up 51% from 3Q 2020). Net income: NT$22.5m (up 55% from 3Q 2020). Profit margin: 10% (in line with 3Q 2020). Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improved over the past week After last week's 16% share price gain to NT$118, the stock trades at a trailing P/E ratio of 62x. Average trailing P/E is 18x in the Chemicals industry in Taiwan. Total loss to shareholders of 22% over the past year. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 20% share price gain to NT$133, the stock trades at a trailing P/E ratio of 66.3x. Average trailing P/E is 16x in the Chemicals industry in Taiwan. Total loss to shareholders of 23% over the past year. Upcoming Dividend • Aug 20
Upcoming dividend of NT$0.80 per share Eligible shareholders must have bought the stock before 27 August 2021. Payment date: 27 September 2021. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.0%). Reported Earnings • Aug 18
First half 2021 earnings released: EPS NT$1.03 (vs NT$0.76 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: NT$307.7m (up 27% from 1H 2020). Net income: NT$31.6m (up 38% from 1H 2020). Profit margin: 10% (in line with 1H 2020). Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 22% share price gain to NT$122, the stock trades at a trailing P/E ratio of 70.2x. Average trailing P/E is 16x in the Chemicals industry in Taiwan. Total loss to shareholders of 35% over the past year. Valuation Update With 7 Day Price Move • May 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$104, the stock trades at a trailing P/E ratio of 60.1x. Average trailing P/E is 16x in the Chemicals industry in Taiwan. Total returns to shareholders of 196% over the past year. Reported Earnings • Apr 13
Full year 2020 earnings released: EPS NT$1.73 (vs NT$0.24 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$533.5m (up 4.2% from FY 2019). Net income: NT$52.0m (up NT$45.3m from FY 2019). Profit margin: 9.7% (up from 1.3% in FY 2019). The increase in margin was primarily driven by lower expenses. Is New 90 Day High Low • Mar 05
New 90-day low: NT$122 The company is down 23% from its price of NT$157 on 04 December 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 9.0% over the same period. Is New 90 Day High Low • Feb 04
New 90-day low: NT$134 The company is down 15% from its price of NT$158 on 06 November 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 8.0% over the same period. Is New 90 Day High Low • Nov 20
New 90-day low: NT$153 The company is down 1.0% from its price of NT$155 on 21 August 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 9.0% over the same period.