Major Estimate Revision • May 22
Consensus EPS estimates increase by 11%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from NT$85.4b to NT$82.7b. EPS estimate rose from NT$30.99 to NT$34.30. Net income forecast to grow 16% next year vs 46% growth forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$450. Share price rose 3.4% to NT$381 over the past week. Reported Earnings • May 16
First quarter 2026 earnings: EPS misses analyst expectations First quarter 2026 results: EPS: NT$6.00 (down from NT$7.74 in 1Q 2025). Revenue: NT$18.5b (flat on 1Q 2025). Net income: NT$1.26b (down 12% from 1Q 2025). Profit margin: 6.8% (down from 7.8% in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 24% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Mar 31
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: NT$30.60 (up from NT$28.88 in FY 2024). Revenue: NT$82.1b (up 2.6% from FY 2024). Net income: NT$5.66b (up 6.0% from FY 2024). Profit margin: 6.9% (up from 6.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Anuncio • Mar 10
Simplo Technology Co., Ltd., Annual General Meeting, May 29, 2026 Simplo Technology Co., Ltd., Annual General Meeting, May 29, 2026, at 09:00 Taipei Standard Time. Location: b1 floor no,471, sec.2 pa to rd., hukou township, hsinchu county Taiwan Declared Dividend • Dec 04
Dividend of NT$9.50 announced Shareholders will receive a dividend of NT$9.50. Ex-date: 17th December 2025 Payment date: 21st January 2026 Dividend yield will be 6.0%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but not covered by cash flows (103% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: NT$7.87 (vs NT$7.73 in 3Q 2024) Third quarter 2025 results: EPS: NT$7.87 (up from NT$7.73 in 3Q 2024). Revenue: NT$20.4b (down 7.4% from 3Q 2024). Net income: NT$1.46b (up 1.9% from 3Q 2024). Profit margin: 7.1% (up from 6.5% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Major Estimate Revision • Aug 28
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$84.6b to NT$81.0b. EPS estimate also fell from NT$31.95 per share to NT$28.20 per share. Net income forecast to grow 12% next year vs 22% growth forecast for Electronic industry in Taiwan. Consensus price target broadly unchanged at NT$447. Share price was steady at NT$393 over the past week. Reported Earnings • Aug 15
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: NT$5.65 (down from NT$7.12 in 2Q 2024). Revenue: NT$19.6b (up 3.3% from 2Q 2024). Net income: NT$1.04b (down 21% from 2Q 2024). Profit margin: 5.3% (down from 6.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Anuncio • Jun 20
Simplo Technology Co., Ltd. Announces Cash Dividend for the Second Half of 2024, Payable on July 29, 2025 Simplo Technology Co., Ltd. announced cash dividend of TWD 2,108,663,917 (TWD 11.4 per share) for the second half of 2024. Ex-rights (Ex-dividend) date: July 02, 2025; Ex-rights (Ex-dividend) record date: July 08, 2025; Payment date of cash dividend distribution: July 29, 2025. Declared Dividend • Jun 19
Dividend reduced to NT$11.40 Dividend of NT$11.40 is 2.6% lower than last year. Ex-date: 2nd July 2025 Payment date: 29th July 2025 Dividend yield will be 5.4%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (66% earnings payout ratio) but not adequately covered by cash flows (91% cash payout ratio). The dividend has increased by an average of 5.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 15
First quarter 2025 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2025 results: EPS: NT$7.74 (up from NT$5.72 in 1Q 2024). Revenue: NT$18.4b (up 4.5% from 1Q 2024). Net income: NT$1.43b (up 35% from 1Q 2024). Profit margin: 7.8% (up from 6.0% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Anuncio • May 01
Simplo Technology Co., Ltd. to Report Q1, 2025 Results on May 09, 2025 Simplo Technology Co., Ltd. announced that they will report Q1, 2025 results on May 09, 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$320, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 41% over the past three years. Anuncio • Mar 07
Simplo Technology Co., Ltd., Annual General Meeting, May 29, 2025 Simplo Technology Co., Ltd., Annual General Meeting, May 29, 2025, at 09:00 Taipei Standard Time. Location: b1 floor no,471, sec.2 pa to rd., hukou township, hsinchu county Taiwan New Risk • Feb 03
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: Minor Risks Dividend is not well covered by cash flows (119% cash payout ratio). Share price has been volatile over the past 3 months (6.6% average weekly change). Declared Dividend • Dec 13
Dividend reduced to NT$9.10 Dividend of NT$9.10 is 9.0% lower than last year. Ex-date: 25th December 2024 Payment date: 22nd January 2025 Dividend yield will be 5.3%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (73% earnings payout ratio) but not covered by cash flows (124% cash payout ratio). The dividend has increased by an average of 6.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 17
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: NT$7.73 (down from NT$8.58 in 3Q 2023). Revenue: NT$22.0b (flat on 3Q 2023). Net income: NT$1.43b (down 9.9% from 3Q 2023). Profit margin: 6.5% (down from 7.2% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.6%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Anuncio • Oct 30
Simplo Technology Co., Ltd. to Report Q3, 2024 Results on Nov 06, 2024 Simplo Technology Co., Ltd. announced that they will report Q3, 2024 results on Nov 06, 2024 Price Target Changed • Oct 01
Price target decreased by 7.1% to NT$451 Down from NT$485, the current price target is an average from 4 analysts. New target price is 28% above last closing price of NT$354. Stock is up 5.8% over the past year. The company is forecast to post earnings per share of NT$30.94 for next year compared to NT$30.67 last year. Reported Earnings • Aug 15
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: NT$7.11 (down from NT$7.36 in 2Q 2023). Revenue: NT$19.0b (down 4.0% from 2Q 2023). Net income: NT$1.32b (down 3.4% from 2Q 2023). Profit margin: 6.9% (in line with 2Q 2023). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. 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 6% per year, which means it is well ahead of earnings. Anuncio • Aug 06
Simplo Technology Co., Ltd. to Report Q2, 2024 Results on Aug 13, 2024 Simplo Technology Co., Ltd. announced that they will report Q2, 2024 results on Aug 13, 2024 Buy Or Sell Opportunity • Jul 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.9% to NT$417. The fair value is estimated to be NT$522, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.0% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 22% in the next 2 years. Declared Dividend • Jun 21
Dividend of NT$11.70 announced Shareholders will receive a dividend of NT$11.70. Ex-date: 4th July 2024 Payment date: 31st July 2024 Dividend yield will be 5.2%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (73% earnings payout ratio) but not covered by cash flows (120% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Anuncio • Jun 20
Simplo Technology Co., Ltd. Approves Cash Dividend for the Second Half of 2023, Payable on July 31, 2024 Simplo Technology Co., Ltd. sets the ex-dividend date for the second half of 2023 cash dividend. Type and monetary amount of dividend distribution: Cash dividends TWD 2,164,155,072 (TWD 11.7 per share). Ex-rights (Ex-dividend) is July 07, 2024. Ex-rights (Ex-dividend) record date is July 10, 2024. Payment date of cash dividend distribution is July 31, 2024. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: NT$5.72 (vs NT$6.72 in 1Q 2023) First quarter 2024 results: EPS: NT$5.72 (down from NT$6.72 in 1Q 2023). Revenue: NT$17.6b (down 8.9% from 1Q 2023). Net income: NT$1.06b (down 15% from 1Q 2023). Profit margin: 6.0% (down from 6.4% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Taiwan. 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 4% per year, which means it is well ahead of earnings. Anuncio • May 03
Simplo Technology Co., Ltd. to Report Q1, 2024 Results on May 08, 2024 Simplo Technology Co., Ltd. announced that they will report Q1, 2024 results on May 08, 2024 New Risk • Apr 08
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 5.0% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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 (7.4% average weekly change). Reported Earnings • Apr 01
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: NT$30.67 (down from NT$39.13 in FY 2022). Revenue: NT$84.8b (down 11% from FY 2022). Net income: NT$5.67b (down 22% from FY 2022). Profit margin: 6.7% (down from 7.6% in FY 2022). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 6% per year. Anuncio • Mar 16
Simplo Technology Co., Ltd., Annual General Meeting, May 30, 2024 Simplo Technology Co., Ltd., Annual General Meeting, May 30, 2024. Price Target Changed • Mar 14
Price target increased by 13% to NT$511 Up from NT$451, the current price target is an average from 3 analysts. New target price is 8.2% below last closing price of NT$556. Stock is up 90% over the past year. The company is forecast to post earnings per share of NT$30.50 for next year compared to NT$39.13 last year. New Risk • Mar 13
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 5.9% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$487, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$584 per share. Upcoming Dividend • Dec 14
Upcoming dividend of NT$10.00 per share at 6.8% yield Eligible shareholders must have bought the stock before 21 December 2023. Payment date: 18 January 2024. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 6.8%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (4.1%). Anuncio • Dec 07
Simplo Technology Co., Ltd. Declares Cash Dividend Distribution for the First Half of 2023, Payable on January 18, 2024 Simplo Technology Co., Ltd. declared cash dividend distribution of TWD 10.0 per share for the first half ending June 30, 2023. Total amount of cash dividends to shareholders: TWD 1,849,705,190 (TWD 10.0 per share). Ex-rights (Ex-dividend) date: December 21, 2023. Ex-rights (Ex-dividend) record date: December 28, 2023. Payment date of cash dividend distribution: January 18, 2024. Price Target Changed • Dec 02
Price target increased by 22% to NT$422 Up from NT$347, the current price target is an average from 3 analysts. New target price is 8.3% above last closing price of NT$390. Stock is up 26% over the past year. The company is forecast to post earnings per share of NT$29.50 for next year compared to NT$39.13 last year. Anuncio • Nov 15
Simplo Technology Co., Ltd. Approves Cash Dividend Distribution for the First Half Ending June 30, 2023 Simplo Technology Co., Ltd. approved cash dividend distribution of TWD 10.0 per share for the first half ending June 30, 2023. Total amount of cash dividends to shareholders: TWD 1,849,705,190. Per value of common stock: TWD 10. Buying Opportunity • Nov 03
Now 20% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be NT$425, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 6.3% in 2 years. Earnings is forecast to grow by 12% in the next 2 years. Major Estimate Revision • Aug 18
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$87.9b to NT$82.2b. EPS estimate also fell from NT$31.50 per share to NT$27.85 per share. Net income forecast to shrink 14% next year vs 4.5% growth forecast for Electronic industry in Taiwan . Consensus price target broadly unchanged at NT$327. Share price was steady at NT$303 over the past week. Reported Earnings • Aug 13
Second quarter 2023 earnings: EPS in line with expectations, revenues disappoint Second quarter 2023 results: EPS: NT$7.36 (down from NT$10.50 in 2Q 2022). Revenue: NT$19.8b (down 17% from 2Q 2022). Net income: NT$1.36b (down 30% from 2Q 2022). Profit margin: 6.9% (down from 8.2% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 29
Upcoming dividend of NT$14.50 per share at 8.8% yield Eligible shareholders must have bought the stock before 06 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 73% and the cash payout ratio is 78%. Trailing yield: 8.8%. Within top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (4.3%). Anuncio • Jun 21
Simplo Technology Co., Ltd. Announces Cash Dividend for the Second Half of 2022, Payable on July 31, 2023 Simplo Technology Co., Ltd. sets the ex-dividend date for the second half of 2022 cash dividend. Type and monetary amount of dividend distribution: Cash dividends TWD 2,682,072,526 (TWD 14.5 per share). Ex-rights (Ex-dividend) is July 06, 2023. Ex-rights (Ex-dividend) record date is July 12, 2023. Payment date of cash dividend distribution is July 31, 2023. Upcoming Dividend • Dec 14
Upcoming dividend of NT$13.10 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 18 January 2023. The company is paying out more than 100% of its profits and is paying out 78% of its cash flow. Trailing yield: 8.9%. Within top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (4.6%). Anuncio • Dec 02
Simplo Technology Co., Ltd. Announces the Cash Dividend for the First Half of 2022, Payable on January 18, 2023 Simplo Technology Co., Ltd. announced the Cash dividends TWD 2,423,113,799 (TWD 13.1 per share) for the first half of 2022. Ex-rights (Ex-dividend) date is December 21, 2022. Ex-rights (Ex-dividend) record date December 27, 2022. Payment date of cash dividend distribution is January 18, 2023. Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: NT$10.97 (up from NT$9.82 in 3Q 2021). Revenue: NT$24.6b (flat on 3Q 2021). Net income: NT$2.03b (up 12% from 3Q 2021). Profit margin: 8.3% (up from 7.3% in 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. 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. No experienced directors. 7 highly experienced directors. Independent Director Pi-Jung Lin was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: NT$10.97 (up from NT$9.82 in 3Q 2021). Revenue: NT$24.6b (flat on 3Q 2021). Net income: NT$2.03b (up 12% from 3Q 2021). Profit margin: 8.3% (up from 7.3% in 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Anuncio • Nov 11
Simplo Technology Co., Ltd. Approves Dividend Distribution for the First Half of 2022 Simplo Technology Co., Ltd.'s Board of Directors approved dividend distribution. Appropriations of earnings in cash dividends to shareholders TWD 13.1. Total amount of cash dividends to shareholders TWD 2,423,113,799. Date of the board of directors resolution: November 9, 2022. Year or quarter which dividends belong to: First half of 2022. Period which dividends belong to: January 1, 2022 - June 30, 2022. Price Target Changed • Oct 08
Price target decreased to NT$340 Down from NT$366, the current price target is an average from 4 analysts. New target price is 24% above last closing price of NT$275. Stock is down 7.6% over the past year. The company is forecast to post earnings per share of NT$37.58 for next year compared to NT$34.50 last year. Reported Earnings • Aug 13
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$10.50 (up from NT$8.57 in 2Q 2021). Revenue: NT$23.8b (down 1.3% from 2Q 2021). Net income: NT$1.94b (up 22% from 2Q 2021). Profit margin: 8.2% (up from 6.6% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Over the next year, revenue is forecast to grow 2.9%, compared to a 8.6% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improved over the past week After last week's 19% share price gain to NT$279, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Electronic industry in Taiwan. Total returns to shareholders of 35% over the past three years. Upcoming Dividend • Jul 06
Upcoming dividend of NT$26.00 per share Eligible shareholders must have bought the stock before 13 July 2022. Payment date: 18 August 2022. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of Taiwanese dividend payers (6.6%). Higher than average of industry peers (4.9%). Anuncio • Jun 23
Simplo Technology Co., Ltd. Announces Cash Dividend, Payable on August 18, 2022 Simplo Technology Co., Ltd. announced Cash dividend TWD 4,809,233,494 and Per share for shareholders at TWD 26. Ex-rights (Ex-dividend) date is July 13, 2022. Ex-rights (Ex-dividend) record date is July 19, 2022. Payment date of cash dividend distribution is August 18, 2022. Price Target Changed • May 21
Price target decreased to NT$366 Down from NT$399, the current price target is an average from 4 analysts. New target price is 28% above last closing price of NT$286. Stock is down 19% over the past year. The company is forecast to post earnings per share of NT$34.56 for next year compared to NT$34.50 last year. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$8.10 (up from NT$7.28 in 1Q 2021). Revenue: NT$22.4b (flat on 1Q 2021). Net income: NT$1.50b (up 11% from 1Q 2021). Profit margin: 6.7% (up from 6.0% in 1Q 2021). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 2.6%, compared to a 9.7% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. 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. 1 experienced director. 6 highly experienced directors. Independent Director Pi-Jung Lin was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 04
Price target decreased to NT$402 Down from NT$444, the current price target is an average from 4 analysts. New target price is 27% above last closing price of NT$316. Stock is down 11% over the past year. The company is forecast to post earnings per share of NT$35.25 for next year compared to NT$27.30 last year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$9.82 (vs NT$7.80 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$24.8b (up 8.7% from 3Q 2020). Net income: NT$1.82b (up 26% from 3Q 2020). Profit margin: 7.3% (up from 6.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$8.57 (vs NT$6.39 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$24.1b (up 23% from 2Q 2020). Net income: NT$1.59b (up 34% from 2Q 2020). Profit margin: 6.6% (up from 6.0% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 06
Upcoming dividend of NT$19.10 per share Eligible shareholders must have bought the stock before 13 August 2021. Payment date: 03 September 2021. Trailing yield: 5.1%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.0%). Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$7.28 (vs NT$3.60 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$22.4b (up 55% from 1Q 2020). Net income: NT$1.35b (up 102% from 1Q 2020). Profit margin: 6.0% (up from 4.6% 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 29% per year whereas the company’s share price has increased by 24% per year. Reported Earnings • Mar 26
Full year 2020 earnings released: EPS NT$27.30 (vs NT$20.68 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$85.5b (up 16% from FY 2019). Net income: NT$5.05b (up 32% from FY 2019). Profit margin: 5.9% (up from 5.2% 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 29% per year whereas the company’s share price has increased by 25% per year. Is New 90 Day High Low • Feb 26
New 90-day high: NT$390 The company is up 18% from its price of NT$331 on 27 November 2020. The Taiwanese market is also up 18% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Electronic industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$528 per share. Is New 90 Day High Low • Jan 04
New 90-day high: NT$363 The company is up 17% from its price of NT$311 on 07 October 2020. The Taiwanese market is also up 17% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Electronic industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$224 per share. Is New 90 Day High Low • Dec 03
New 90-day high: NT$337 The company is up 3.0% from its price of NT$328 on 04 September 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$198 per share. Major Estimate Revision • Nov 19
Analysts increase EPS estimates to NT$26.80 The 2020 consensus revenue estimate increased from NT$79.7b to NT$82.7b. The earnings per share estimate also received an upgrade from NT$23.68 to NT$26.80 for the same period. Net income is expected to grow by 23% next year compared to 30% growth forecast for the Electronic industry in Taiwan. The consensus price target increased from NT$370 to NT$395. Share price is up 6.0% to NT$334 over the past week. Analyst Estimate Surprise Post Earnings • Nov 16
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the next year, revenue is forecast to grow 8.8%, compared to a 11% growth forecast for the Electronic industry in Taiwan. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$7.80 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$22.8b (up 12% from 3Q 2019). Net income: NT$1.44b (up 18% from 3Q 2019). Profit margin: 6.3% (up from 6.0% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.