Reported Earnings • Mar 14
Full year 2025 earnings released: NT$0.65 loss per share (vs NT$0.28 profit in FY 2024) Full year 2025 results: NT$0.65 loss per share (down from NT$0.28 profit in FY 2024). Revenue: NT$681.8m (flat on FY 2024). Net loss: NT$25.6m (down 330% from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Anuncio • Mar 11
Higgstec Inc., Annual General Meeting, May 27, 2026 Higgstec Inc., Annual General Meeting, May 27, 2026, at 10:00 Taipei Standard Time. Location: no,2, fu hsing 1st rd., gueishan district, taoyuan city Taiwan Reported Earnings • Nov 13
Third quarter 2025 earnings released: NT$0.24 loss per share (vs NT$0.14 loss in 3Q 2024) Third quarter 2025 results: NT$0.24 loss per share (further deteriorated from NT$0.14 loss in 3Q 2024). Revenue: NT$148.8m (down 6.5% from 3Q 2024). Net loss: NT$9.43m (loss widened 67% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
Second quarter 2025 earnings released: NT$0.31 loss per share (vs NT$0.19 profit in 2Q 2024) Second quarter 2025 results: NT$0.31 loss per share (down from NT$0.19 profit in 2Q 2024). Revenue: NT$187.0m (up 7.0% from 2Q 2024). Net loss: NT$12.4m (down 264% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Declared Dividend • Jun 26
Dividend reduced to NT$0.50 Dividend of NT$0.50 is 44% lower than last year. Ex-date: 9th July 2025 Payment date: 30th July 2025 Dividend yield will be 2.5%, which is lower than the industry average of 4.0%. Sustainability & Growth Dividend is not covered by earnings (254% earnings payout ratio) nor is it adequately covered by cash flows (94% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 182% to bring the payout ratio under control. However, EPS has declined by 34% over the last 5 years so the company would need to reverse this trend. Reported Earnings • May 19
First quarter 2025 earnings released: EPS: NT$0.17 (vs NT$0.26 in 1Q 2024) First quarter 2025 results: EPS: NT$0.17 (down from NT$0.26 in 1Q 2024). Revenue: NT$211.2m (up 13% from 1Q 2024). Net income: NT$6.79m (down 33% from 1Q 2024). Profit margin: 3.2% (down from 5.4% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$17.60, the stock trades at a trailing P/E ratio of 62.7x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total loss to shareholders of 42% over the past three years. Reported Earnings • Mar 14
Full year 2024 earnings released: EPS: NT$0.28 (vs NT$0.95 in FY 2023) Full year 2024 results: EPS: NT$0.28 (down from NT$0.95 in FY 2023). Revenue: NT$682.7m (down 13% from FY 2023). Net income: NT$11.1m (down 70% from FY 2023). Profit margin: 1.6% (down from 4.8% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Anuncio • Mar 13
Higgstec Inc., Annual General Meeting, May 27, 2025 Higgstec Inc., Annual General Meeting, May 27, 2025, at 10:00 Taipei Standard Time. Location: no,2, fu hsing 1st rd., gueishan district, taoyuan city Taiwan Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$24.35, the stock trades at a trailing P/E ratio of 66.2x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total loss to shareholders of 22% over the past three years. Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.14 loss per share (vs NT$0.015 profit in 3Q 2023) Third quarter 2024 results: NT$0.14 loss per share (down from NT$0.015 profit in 3Q 2023). Revenue: NT$159.1m (down 1.7% from 3Q 2023). Net loss: NT$5.66m (down NT$6.25m from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.19 (vs NT$0.53 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.19 (down from NT$0.53 in 2Q 2023). Revenue: NT$174.7m (down 21% from 2Q 2023). Net income: NT$7.60m (down 64% from 2Q 2023). Profit margin: 4.3% (down from 9.5% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 02
Upcoming dividend of NT$0.90 per share Eligible shareholders must have bought the stock before 09 July 2024. Payment date: 01 August 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.6%). Anuncio • Mar 14
Higgstec Inc., Annual General Meeting, Jun 21, 2024 Higgstec Inc., Annual General Meeting, Jun 21, 2024. Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: NT$0.95 (vs NT$2.89 in FY 2022) Full year 2023 results: EPS: NT$0.95 (down from NT$2.89 in FY 2022). Revenue: NT$785.0m (down 20% from FY 2022). Net income: NT$37.6m (down 67% from FY 2022). Profit margin: 4.8% (down from 12% 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 41% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: NT$0.01 (vs NT$1.10 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.01 (down from NT$1.10 in 3Q 2022). Revenue: NT$161.9m (down 38% from 3Q 2022). Net income: NT$592.0k (down 99% from 3Q 2022). Profit margin: 0.4% (down from 17% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. New Risk • Aug 12
New major risk - Revenue and earnings growth Earnings have declined by 1.9% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.9% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (92% payout ratio). Profit margins are more than 30% lower than last year (8.8% net profit margin). Market cap is less than US$100m (NT$1.14b market cap, or US$35.6m). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.53 (vs NT$0.99 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.53 (down from NT$0.99 in 2Q 2022). Revenue: NT$222.3m (down 14% from 2Q 2022). Net income: NT$21.2m (down 46% from 2Q 2022). Profit margin: 9.5% (down from 15% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Jun 29
Upcoming dividend of NT$1.80 per share at 5.9% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 03 August 2023. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 5.9%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.3%). Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: NT$2.88 (vs NT$3.43 in FY 2021) Full year 2022 results: EPS: NT$2.88 (down from NT$3.43 in FY 2021). Revenue: NT$975.6m (down 3.2% from FY 2021). Net income: NT$114.4m (down 16% from FY 2021). Profit margin: 12% (down from 14% 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 9% per year whereas the company’s share price has increased by 13% per year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.99 (vs NT$0.89 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.99 (up from NT$0.89 in 2Q 2021). Revenue: NT$258.2m (flat on 2Q 2021). Net income: NT$39.3m (up 12% from 2Q 2021). Profit margin: 15% (up from 14% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buying Opportunity • Jul 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be NT$36.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Earnings per share has grown by 7.1%. Upcoming Dividend • Jul 07
Upcoming dividend of NT$2.20 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 67% but the company is paying out more than the cash it is generating. Trailing yield: 7.1%. Within top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (5.1%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.80 (vs NT$0.96 in 1Q 2021) First quarter 2022 results: EPS: NT$0.80 (down from NT$0.96 in 1Q 2021). Revenue: NT$273.7m (up 8.7% from 1Q 2021). Net income: NT$31.9m (down 16% from 1Q 2021). Profit margin: 12% (down from 15% in 1Q 2021). 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 fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS NT$1.00 (vs NT$2.05 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$280.9m (down 31% from 3Q 2020). Net income: NT$39.5m (down 51% from 3Q 2020). Profit margin: 14% (down from 20% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year and the company’s share price has also increased by 8% per year. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.89 (vs NT$1.49 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$260.0m (down 18% from 2Q 2020). Net income: NT$35.2m (down 41% from 2Q 2020). Profit margin: 14% (down from 19% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.96 (vs NT$0.51 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$251.7m (up 17% from 1Q 2020). Net income: NT$37.9m (up 86% from 1Q 2020). Profit margin: 15% (up from 9.4% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS NT$4.71 (vs NT$2.00 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$1.18b (up 13% from FY 2019). Net income: NT$186.9m (up 136% from FY 2019). Profit margin: 16% (up from 7.6% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 11
New 90-day high: NT$44.30 The company is up 5.0% from its price of NT$42.10 on 11 December 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 13% over the same period. Is New 90 Day High Low • Feb 01
New 90-day low: NT$36.95 The company is down 9.0% from its price of NT$40.75 on 04 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 26% over the same period. Is New 90 Day High Low • Jan 11
New 90-day low: NT$39.55 The company is down 11% from its price of NT$44.30 on 14 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 24% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$2.05 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$409.3m (up 60% from 3Q 2019). Net income: NT$81.4m (up 250% from 3Q 2019). Profit margin: 20% (up from 9.1% 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 5% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 27
New 90-day low: NT$40.60 The company is down 2.0% from its price of NT$41.60 on 29 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 1.0% over the same period.