Price Target Changed • 18h
Price target decreased by 7.1% to RM2.85 Down from RM3.07, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of RM2.94. Stock is down 11% over the past year. The company is forecast to post earnings per share of RM0.19 for next year compared to RM0.20 last year. Reported Earnings • Apr 24
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: RM0.20 (down from RM0.25 in FY 2024). Revenue: RM184.2m (down 17% from FY 2024). Net income: RM92.3m (down 19% from FY 2024). Profit margin: 50% (down from 51% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) also missed analyst estimates by 7.8%. Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 22
Fourth quarter dividend of RM0.06 announced Shareholders will receive a dividend of RM0.06. Ex-date: 9th June 2026 Payment date: 25th June 2026 Dividend yield will be 6.9%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not adequately covered by earnings (98% earnings payout ratio) nor is it covered by cash flows (103% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 8.5% to bring the payout ratio under control. EPS is expected to grow by 6.8% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Annonce • Apr 21
Uchi Technologies Berhad, Annual General Meeting, May 20, 2026 Uchi Technologies Berhad, Annual General Meeting, May 20, 2026, at 15:00 Singapore Standard Time. Location: ballroom, level 1, gurney bay hotel, 53 persiaran gurney, 10250 penang, Malaysia Buy Or Sell Opportunity • Mar 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.5% to RM2.84. The fair value is estimated to be RM3.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.4% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 9.8% in 2 years. Earnings are forecast to grow by 9.0% in the next 2 years. Reported Earnings • Mar 01
Full year 2025 earnings released: EPS: RM0.20 (vs RM0.25 in FY 2024) Full year 2025 results: EPS: RM0.20 (down from RM0.25 in FY 2024). Revenue: RM184.2m (down 17% from FY 2024). Net income: RM92.3m (down 19% from FY 2024). Profit margin: 50% (down from 51% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 01
Fourth quarter dividend of RM0.045 announced Shareholders will receive a dividend of RM0.045. Ex-date: 13th March 2026 Payment date: 31st March 2026 Dividend yield will be 6.4%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not adequately covered by earnings (100% earnings payout ratio) nor is it covered by cash flows (129% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. EPS is expected to grow by 15% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Annonce • Nov 28
Uchi Technologies Berhad Declares Second Interim Dividend for the Year Ending December 31, 2025, Payable on December 24, 2025 Uchi Technologies Berhad's Board of Directors declared a second interim dividend of 4.5 Sen per share, exempt from income tax for the year ending December 31, 2025. The dates of the entitlement and payment for the aforesaid dividend are on December 10, 2025 and December 24, 2025 respectively. Ex-Date is 9 December 2025. Declared Dividend • Nov 27
Third quarter dividend of RM0.045 announced Shareholders will receive a dividend of RM0.045. Ex-date: 9th December 2025 Payment date: 24th December 2025 Dividend yield will be 7.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (125% earnings payout ratio) nor is it covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 39% to bring the payout ratio under control. EPS is expected to grow by 16% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Nov 26
Third quarter 2025 earnings released: EPS: RM0.055 (vs RM0.062 in 3Q 2024) Third quarter 2025 results: EPS: RM0.055 (down from RM0.062 in 3Q 2024). Revenue: RM50.0m (down 9.9% from 3Q 2024). Net income: RM25.5m (down 9.9% from 3Q 2024). Profit margin: 51% (in line with 3Q 2024). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 10% 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. Declared Dividend • Aug 23
Second quarter dividend of RM0.045 announced Shareholders will receive a dividend of RM0.045. Ex-date: 8th September 2025 Payment date: 25th September 2025 Dividend yield will be 8.6%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (121% earnings payout ratio) nor is it covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 9.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 35% to bring the payout ratio under control. EPS is expected to grow by 20% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: RM0.049 (vs RM0.07 in 2Q 2024) Second quarter 2025 results: EPS: RM0.049 (down from RM0.07 in 2Q 2024). Revenue: RM44.8m (down 24% from 2Q 2024). Net income: RM22.4m (down 30% from 2Q 2024). Profit margin: 50% (down from 55% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has remained flat. Upcoming Dividend • Jun 04
Upcoming dividend of RM0.06 per share Eligible shareholders must have bought the stock before 11 June 2025. Payment date: 26 June 2025. Payout ratio is on the higher end at 81%, and the cash payout ratio is above 100%. Trailing yield: 8.1%. Within top quartile of Malaysian dividend payers (5.6%). Higher than average of industry peers (2.3%). Annonce • May 28
Uchi Technologies Berhad Declares Final Single Tier Dividend for the Year Ended December 31, 2024 Uchi Technologies Berhad at its AGM held on May 28, 2025 approved to declare a Final Single Tier Dividend of 6 sen per share for the year ended December 31, 2024. Reported Earnings • May 28
First quarter 2025 earnings released: EPS: RM0.046 (vs RM0.07 in 1Q 2024) First quarter 2025 results: EPS: RM0.046 (down from RM0.07 in 1Q 2024). Revenue: RM44.9m (down 28% from 1Q 2024). Net income: RM21.4m (down 33% from 1Q 2024). Profit margin: 48% (down from 52% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Price Target Changed • May 23
Price target decreased by 12% to RM3.42 Down from RM3.88, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of RM3.31. Stock is down 20% over the past year. The company is forecast to post earnings per share of RM0.23 for next year compared to RM0.25 last year. Declared Dividend • Apr 30
Fourth quarter dividend of RM0.06 announced Shareholders will receive a dividend of RM0.06. Ex-date: 11th June 2025 Payment date: 26th June 2025 Dividend yield will be 9.6%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio) nor is it covered by cash flows (106% cash payout ratio). The dividend has increased by an average of 9.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 10% to bring the payout ratio under control. EPS is expected to grow by 6.1% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to RM2.97, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Electronic industry in Malaysia. Total returns to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM4.69 per share. Major Estimate Revision • Mar 04
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from RM235.8m to RM212.4m. EPS estimate also fell from RM0.263 per share to RM0.229 per share. Net income forecast to shrink 7.5% next year vs 21% growth forecast for Electronic industry in Malaysia . Consensus price target down from RM3.88 to RM3.69. Share price fell 5.6% to RM3.70 over the past week. New Risk • Feb 28
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 105% Dividend yield: 6.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Feb 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.8% to RM3.75. The fair value is estimated to be RM4.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 7.5%. For the next 3 years, revenue is forecast to grow by 0.6% per annum. Earnings are also forecast to grow by 1.2% per annum over the same time period. Declared Dividend • Feb 27
Fourth quarter dividend of RM0.09 announced Shareholders will receive a dividend of RM0.09. Ex-date: 11th March 2025 Payment date: 27th March 2025 Dividend yield will be 8.2%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (27% earnings payout ratio) but not covered by cash flows (127% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 5.2% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: RM0.25 (vs RM0.30 in FY 2023) Full year 2024 results: EPS: RM0.25 (down from RM0.30 in FY 2023). Revenue: RM222.1m (down 8.4% from FY 2023). Net income: RM113.7m (down 16% from FY 2023). Profit margin: 51% (down from 56% in FY 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Annonce • Feb 25
Uchi Technologies Berhad Announces Special Tax Exempt Dividend for the Financial Year Ended 31 December 2024, Payable on 27 March 2025 Uchi Technologies Berhad announced special tax exempt dividend of 5 sen per share for the financial year ended 31 December 2024. Ex-Date is 11 March 2025. Entitlement date is 12 March 2025. Payment date is 27 March 2025. Buy Or Sell Opportunity • Nov 29
Now 21% undervalued Over the last 90 days, the stock has risen 3.1% to RM3.94. The fair value is estimated to be RM4.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to decline by 1.6% in 2 years. Earnings are forecast to decline by 3.4% in the next 2 years. Declared Dividend • Nov 28
Third quarter dividend of RM0.08 announced Shareholders will receive a dividend of RM0.08. Ex-date: 10th December 2024 Payment date: 27th December 2024 Dividend yield will be 6.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (106% earnings payout ratio) nor is it covered by cash flows (118% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 18% to bring the payout ratio under control. However, EPS is expected to remain steady over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Nov 27
Third quarter 2024 earnings released: EPS: RM0.062 (vs RM0.073 in 3Q 2023) Third quarter 2024 results: EPS: RM0.062 (down from RM0.073 in 3Q 2023). Revenue: RM55.5m (down 12% from 3Q 2023). Net income: RM28.3m (down 15% from 3Q 2023). Profit margin: 51% (down from 53% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 21% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 8% per year. New Risk • Oct 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. High level of non-cash earnings (43% accrual ratio). Minor Risk Dividend is not well covered by cash flows (119% cash payout ratio). Declared Dividend • Aug 26
Second quarter dividend of RM0.065 announced Shareholders will receive a dividend of RM0.065. Ex-date: 6th September 2024 Payment date: 26th September 2024 Dividend yield will be 7.5%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio) nor is it covered by cash flows (119% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. EPS is expected to grow by 2.9% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Aug 24
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 43% 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: 102% Cash payout ratio: 119% High level of non-cash earnings (43% accrual ratio). Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: RM0.07 (vs RM0.062 in 2Q 2023) Second quarter 2024 results: EPS: RM0.07 (up from RM0.062 in 2Q 2023). Revenue: RM59.1m (up 2.2% from 2Q 2023). Net income: RM32.2m (up 13% from 2Q 2023). Profit margin: 55% (up from 49% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 20% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 18
Now 22% undervalued Over the last 90 days, the stock has risen 2.1% to RM3.90. The fair value is estimated to be RM4.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to decline by 1.0% in 2 years. Earnings are forecast to decline by 3.0% in the next 2 years. Upcoming Dividend • May 31
Upcoming dividend of RM0.075 per share Eligible shareholders must have bought the stock before 07 June 2024. Payment date: 26 June 2024. Payout ratio is on the higher end at 100%, and the cash payout ratio is above 100%. Trailing yield: 7.4%. Within top quartile of Malaysian dividend payers (4.3%). Higher than average of industry peers (2.0%). Annonce • May 25
Uchi Technologies Berhad Approves Final Dividend Single Tier for the Year Ended 31 December 2023 Uchi Technologies Berhad announced that at the Annual General Meeting held on 24 May 2024, approved to Declare a Final Single Tier Dividend of 7.5 sen per share for the year ended 31 December 2023. New Risk • May 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 100% Cash payout ratio: 111% Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. High level of non-cash earnings (50% accrual ratio). Reported Earnings • Apr 24
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: RM0.30 (up from RM0.28 in FY 2022). Revenue: RM242.5m (up 13% from FY 2022). Net income: RM135.2m (up 8.3% from FY 2022). Profit margin: 56% (down from 58% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 8.7%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Annonce • Apr 21
Uchi Technologies Berhad, Annual General Meeting, May 24, 2024 Uchi Technologies Berhad, Annual General Meeting, May 24, 2024, at 14:00 Singapore Standard Time. Agenda: To receive the Audited Financial Statements of the Company for the year ended December 31, 2023 together with the Reports of the Directors and Auditors thereon; to Declare a Final Single Tier Dividend of 7.5 sen per share for the year ended December 31, 2023; to approve the payment of Directors' Fees of RM505,200 for the year ending December 31, 2024; to re-elect Mr. Kao, De-Tsan, also known as Ted Kao retiring under Clause 76(3) of the Constitution of the Company; to re-elect Mr. Charlie Ong Chye Lee retiring under Clause 76(3) of the Constitution of the Company; to re-appoint Messrs. Deloitte PLT as Auditors of the Company and to authorize the Board of Directors to fix their remuneration; and to transact other business. Price Target Changed • Mar 29
Price target increased by 8.7% to RM3.92 Up from RM3.61, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of RM3.91. Stock is up 21% over the past year. The company is forecast to post earnings per share of RM0.26 for next year compared to RM0.30 last year. Upcoming Dividend • Mar 05
Upcoming dividend of RM0.05 per share Eligible shareholders must have bought the stock before 12 March 2024. Payment date: 27 March 2024. Payout ratio is on the higher end at 100%, and the cash payout ratio is above 100%. Trailing yield: 7.5%. Within top quartile of Malaysian dividend payers (4.9%). Higher than average of industry peers (2.6%). Annonce • Feb 28
Uchi Technologies Berhad Proposes Declaration of Final Single Tier Dividend for the Year Ended 31 December 2023 The Board of Directors of Uchi Technologies Berhad has, on 27 February 2024, Proposed Declaration of a Final Single Tier Dividend of 7.5 sen per share for the year ended 31 December 2023. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: RM0.30 (vs RM0.28 in FY 2022) Full year 2023 results: EPS: RM0.30 (up from RM0.28 in FY 2022). Revenue: RM242.5m (up 13% from FY 2022). Net income: RM135.2m (up 8.3% from FY 2022). Profit margin: 56% (down from 58% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 3.5% p.a. on average during the next 2 years, while revenues in the Electronic industry in Malaysia are expected to grow by 15%. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 04
Upcoming dividend of RM0.09 per share at 5.6% yield Eligible shareholders must have bought the stock before 11 December 2023. Payment date: 28 December 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.6%. Within top quartile of Malaysian dividend payers (5.1%). Higher than average of industry peers (2.3%). Reported Earnings • Nov 25
Third quarter 2023 earnings released: EPS: RM0.073 (vs RM0.072 in 3Q 2022) Third quarter 2023 results: EPS: RM0.073 (up from RM0.072 in 3Q 2022). Revenue: RM62.9m (up 15% from 3Q 2022). Net income: RM33.4m (up 2.8% from 3Q 2022). Profit margin: 53% (down from 60% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 16% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 04
Upcoming dividend of RM0.08 per share at 7.4% yield Eligible shareholders must have bought the stock before 11 September 2023. Payment date: 27 September 2023. Payout ratio is a comfortable 73% but the company is paying out more than the cash it is generating. Trailing yield: 7.4%. Within top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (2.3%). Upcoming Dividend • Sep 04
Upcoming dividend of RM0.08 per share at 7.4% yield Eligible shareholders must have bought the stock before 11 September 2023. Payment date: 27 September 2023. Payout ratio is a comfortable 73% but the company is paying out more than the cash it is generating. Trailing yield: 7.4%. Within top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (2.3%). New Risk • Aug 26
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 32% 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 Earnings are forecast to decline by an average of 5.8% per year for the foreseeable future. High level of non-cash earnings (32% accrual ratio). Minor Risk Dividend is not well covered by cash flows (95% cash payout ratio). Reported Earnings • May 24
First quarter 2023 earnings released: EPS: RM0.083 (vs RM0.059 in 1Q 2022) First quarter 2023 results: EPS: RM0.083 (up from RM0.059 in 1Q 2022). Revenue: RM57.4m (up 20% from 1Q 2022). Net income: RM37.8m (up 41% from 1Q 2022). Profit margin: 66% (up from 56% in 1Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 05
Upcoming dividend of RM0.18 per share at 7.4% yield Eligible shareholders must have bought the stock before 12 May 2023. Payment date: 26 May 2023. Payout ratio and cash payout ratio are on the higher end at 91% and 79% respectively. Trailing yield: 7.4%. Within top quartile of Malaysian dividend payers (5.3%). Higher than average of industry peers (2.7%). Reported Earnings • Apr 24
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: RM0.28 (up from RM0.20 in FY 2021). Revenue: RM214.3m (up 27% from FY 2021). Net income: RM124.9m (up 37% from FY 2021). Profit margin: 58% (up from 54% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: RM0.28 (vs RM0.20 in FY 2021) Full year 2022 results: EPS: RM0.28 (up from RM0.20 in FY 2021). Revenue: RM214.3m (up 27% from FY 2021). Net income: RM124.9m (up 37% from FY 2021). Profit margin: 58% (up from 54% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 22
Upcoming dividend of RM0.12 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 19 January 2023. Payout ratio and cash payout ratio are on the higher end at 90% and 80% respectively. Trailing yield: 6.8%. Within top quartile of Malaysian dividend payers (5.0%). Higher than average of industry peers (3.2%). Annonce • Dec 14
Uchi Technologies Berhad Announces Interim Tax-Exempt Dividend for the Year Ending December 31, 2022, Payable on 19 January 2023 Uchi Technologies Berhad announced interim tax-exempt dividend of 12.0 sen per share for the year ending December 31, 2022. Ex-date is 29 December 2022. Entitlement date is 30 December 2022. Payment date is 19 January 2023. Major Estimate Revision • Dec 02
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from RM190.4m to RM201.5m. EPS estimate increased from RM0.22 to RM0.25 per share. Net income forecast to shrink 3.4% next year vs 7.3% growth forecast for Electronic industry in Malaysia . Consensus price target up from RM3.53 to RM3.66. Share price was steady at RM3.31 over the past week. Annonce • Nov 26
Uchi Technologies Berhad Declares an Interim Tax Exempt Dividend for the Year Ending 31 December 2022 The Board of Directors of Uchi Technologies Berhad has, on 25 November 2022, declared an Interim Tax Exempt Dividend of 12.0 sen per share for the year ending 31 December 2022. Reported Earnings • Nov 26
Third quarter 2022 earnings released: EPS: RM0.072 (vs RM0.054 in 3Q 2021) Third quarter 2022 results: EPS: RM0.072 (up from RM0.054 in 3Q 2021). Revenue: RM54.7m (up 23% from 3Q 2021). Net income: RM32.5m (up 33% from 3Q 2021). Profit margin: 60% (up from 55% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Non Executive Director Chin Han was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: RM0.073 (vs RM0.052 in 2Q 2021) Second quarter 2022 results: EPS: RM0.073 (up from RM0.052 in 2Q 2021). Revenue: RM57.1m (up 36% from 2Q 2021). Net income: RM32.9m (up 40% from 2Q 2021). Profit margin: 58% (up from 56% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to stay flat compared to a 18% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Aug 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Non Executive Director Chin Han was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Non Executive Director Chin Han was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 22
Upcoming dividend of RM0.11 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 21 July 2022. Payout ratio and cash payout ratio are on the higher end at 92% and 91% respectively. Trailing yield: 6.6%. Within top quartile of Malaysian dividend payers (4.9%). Higher than average of industry peers (4.1%). Reported Earnings • May 27
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: RM0.059 (up from RM0.045 in 1Q 2021). Revenue: RM47.9m (up 21% from 1Q 2021). Net income: RM26.8m (up 33% from 1Q 2021). Profit margin: 56% (up from 51% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 4.4%, compared to a 18% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annonce • Apr 23
Uchi Technologies Berhad Announces Final Tax Exempt Dividend for the Year Ended 31 December 2021 Uchi Technologies Berhad announced Final Tax Exempt Dividend of 11 sen per share for the year ended 31 December 2021. Ex-Date: 29 June 2022. Entitlement date: 30 June 2022. Payment Date: 21 July 2022. Annonce • Feb 24
Uchi Technologies Berhad Declares of Final Dividend for the Year Ended 31 December 2021 Uchi Technologies Berhad announced that the Board of Directors of Uchi Technologies Berhad has, on 23 February 2022, declared a Final Tax Exempt Dividend of 11 sen per share for the year ended 31 December 2021. Reported Earnings • Feb 24
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: RM0.20 (up from RM0.19 in FY 2020). Revenue: RM168.5m (up 8.5% from FY 2020). Net income: RM91.4m (up 9.1% from FY 2020). Profit margin: 54% (in line with FY 2020). Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 6.3%, compared to a 18% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 23
Upcoming dividend of RM0.09 per share Eligible shareholders must have bought the stock before 30 December 2021. Payment date: 25 January 2022. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 5.9%. Within top quartile of Malaysian dividend payers (4.5%). Higher than average of industry peers (2.8%). Reported Earnings • Nov 26
Third quarter 2021 earnings: EPS and revenues exceed analyst expectations Third quarter 2021 results: EPS: RM0.054 (up from RM0.053 in 3Q 2020). Revenue: RM44.4m (up 9.9% from 3Q 2020). Net income: RM24.5m (up 3.3% from 3Q 2020). Profit margin: 55% (down from 59% in 3Q 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 9.1%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Earnings per share (EPS) surpassed analyst estimates by 20%. Over the next year, revenue is expected to shrink by 4.7% compared to a 18% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS RM0.052 (vs RM0.026 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM42.0m (up 63% from 2Q 2020). Net income: RM23.4m (up 99% from 2Q 2020). Profit margin: 56% (up from 46% 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 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 23
Upcoming dividend of RM0.095 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 22 July 2021. Trailing yield: 5.3%. Within top quartile of Malaysian dividend payers (3.9%). Higher than average of industry peers (1.9%). Reported Earnings • May 25
First quarter 2021 earnings released: EPS RM0.045 (vs RM0.036 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: RM39.6m (up 11% from 1Q 2020). Net income: RM20.2m (up 26% from 1Q 2020). Profit margin: 51% (up from 45% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 2% per year. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS RM0.19 (vs RM0.17 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: RM155.3m (flat on FY 2019). Net income: RM83.8m (up 10% from FY 2019). Profit margin: 54% (up from 49% in FY 2019). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS RM0.19 (vs RM0.17 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: RM155.3m (flat on FY 2019). Net income: RM83.8m (up 10% from FY 2019). Profit margin: 54% (up from 49% in FY 2019). Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 9.1%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Over the next year, revenue is forecast to grow 5.8%, compared to a 33% growth forecast for the Electronic industry in Malaysia. Is New 90 Day High Low • Feb 23
New 90-day high: RM3.09 The company is up 19% from its price of RM2.59 on 25 November 2020. The Malaysian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM2.15 per share. Is New 90 Day High Low • Feb 02
New 90-day high: RM2.80 The company is up 9.0% from its price of RM2.58 on 04 November 2020. The Malaysian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM2.18 per share. Is New 90 Day High Low • Jan 06
New 90-day low: RM2.50 The company is down 5.0% from its price of RM2.64 on 08 October 2020. The Malaysian 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 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM2.18 per share.