Reported Earnings • Jul 30
Second quarter 2026 earnings released: EPS: NT$1.45 (vs NT$1.15 in 2Q 2025) Second quarter 2026 results: EPS: NT$1.45 (up from NT$1.15 in 2Q 2025). Revenue: NT$7.59b (down 9.2% from 2Q 2025). Net income: NT$847.2m (up 27% from 2Q 2025). Profit margin: 11% (up from 8.0% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 1% per year. Price Target Changed • Jul 30
Price target increased by 8.9% to NT$71.50 Up from NT$65.67, the current price target is an average from 2 analysts. New target price is 7.2% above last closing price of NT$66.70. Stock is down 1.3% over the past year. The company is forecast to post earnings per share of NT$4.25 for next year compared to NT$3.88 last year. Reported Earnings • May 01
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: NT$0.91 (up from NT$0.81 in 1Q 2025). Revenue: NT$6.40b (down 14% from 1Q 2025). Net income: NT$526.7m (up 12% from 1Q 2025). Profit margin: 8.2% (up from 6.3% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 6.5%. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 3% per year. Upcoming Dividend • Mar 19
Upcoming dividend of NT$3.30 per share Eligible shareholders must have bought the stock before 26 March 2026. Payment date: 24 April 2026. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 5.2%. Within top quartile of Taiwanese dividend payers (5.2%). Higher than average of industry peers (2.9%). Declared Dividend • Mar 01
Dividend of NT$3.30 announced Shareholders will receive a dividend of NT$3.30. Ex-date: 26th March 2026 Payment date: 24th April 2026 Dividend yield will be 4.9%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is covered by both earnings (87% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 7.6% over the next 2 years. Since a fall of 3.9% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Annonce • Feb 26
Feng Hsin Steel Co., Ltd., Annual General Meeting, May 27, 2026 Feng Hsin Steel Co., Ltd., Annual General Meeting, May 27, 2026. Location: no,259, sec.3 hou k`o rd., houli district, taichung city Taiwan Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: NT$3.88 (vs NT$4.26 in FY 2024) Full year 2025 results: EPS: NT$3.88 (down from NT$4.26 in FY 2024). Revenue: NT$29.0b (down 16% from FY 2024). Net income: NT$2.25b (down 8.9% from FY 2024). Profit margin: 7.8% (up from 7.2% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 5.0% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 7% 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. Major Estimate Revision • Nov 27
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$31.8b to NT$29.0b. EPS estimate also fell from NT$4.22 per share to NT$3.75 per share. Net income forecast to shrink 4.8% next year vs 12% growth forecast for Metals and Mining industry in Taiwan . Consensus price target down from NT$67.00 to NT$65.00. Share price was steady at NT$62.50 over the past week. New Risk • Nov 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 Risk Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Major Estimate Revision • Nov 22
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$31.8b to NT$29.0b. EPS estimate also fell from NT$4.22 per share to NT$3.75 per share. Net income forecast to grow 3.2% next year vs 28% growth forecast for Metals and Mining industry in Taiwan. Consensus price target down from NT$67.00 to NT$65.50. Share price fell 3.1% to NT$62.30 over the past week. Reported Earnings • Nov 02
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: NT$0.98 (up from NT$0.78 in 3Q 2024). Revenue: NT$6.64b (down 19% from 3Q 2024). Net income: NT$567.6m (up 24% from 3Q 2024). Profit margin: 8.5% (up from 5.6% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 8.5%. Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Metals and Mining 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 4% per year, which means it is well ahead of earnings. Reported Earnings • Jul 31
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: NT$1.15 (down from NT$1.33 in 2Q 2024). Revenue: NT$8.36b (down 7.3% from 2Q 2024). Net income: NT$669.1m (down 14% from 2Q 2024). Profit margin: 8.0% (down from 8.6% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.7%. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Price Target Changed • May 08
Price target decreased by 20% to NT$68.00 Down from NT$85.50, the current price target is an average from 2 analysts. New target price is 13% above last closing price of NT$60.40. Stock is down 14% over the past year. The company is forecast to post earnings per share of NT$4.30 for next year compared to NT$4.26 last year. New Risk • May 02
New major risk - Revenue and earnings growth Earnings have declined by 1.7% 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 1.7% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: NT$0.81 (vs NT$1.03 in 1Q 2024) First quarter 2025 results: EPS: NT$0.81 (down from NT$1.03 in 1Q 2024). Revenue: NT$7.46b (down 12% from 1Q 2024). Net income: NT$472.5m (down 21% from 1Q 2024). Profit margin: 6.3% (down from 7.1% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Annonce • Apr 10
Feng Hsin Steel Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Feng Hsin Steel Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Buy Or Sell Opportunity • Apr 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to NT$57.40. The fair value is estimated to be NT$72.59, 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 22%. Revenue is forecast to grow by 2.0% in a year. Earnings are forecast to grow by 5.2% in the next year. Upcoming Dividend • Mar 20
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 27 March 2025. Payment date: 25 April 2025. Payout ratio and cash payout ratio are on the higher end at 82% and 82% respectively. Trailing yield: 4.6%. Within top quartile of Taiwanese dividend payers (4.6%). Higher than average of industry peers (2.7%). Reported Earnings • Mar 03
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: NT$4.26 (up from NT$4.08 in FY 2023). Revenue: NT$34.4b (down 1.4% from FY 2023). Net income: NT$2.48b (up 4.2% from FY 2023). Profit margin: 7.2% (up from 6.8% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the last 3 years on average, earnings per share has fallen by 22% 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. Annonce • Feb 27
Feng Hsin Steel Co., Ltd., Annual General Meeting, May 28, 2025 Feng Hsin Steel Co., Ltd., Annual General Meeting, May 28, 2025, at 09:00 Taipei Standard Time. Location: no,259, sec.3 hou k`o rd., houli district, taichung city Taiwan Annonce • Feb 09
Feng Hsin Steel Co., Ltd. to Report Fiscal Year 2024 Results on Feb 25, 2025 Feng Hsin Steel Co., Ltd. announced that they will report fiscal year 2024 results on Feb 25, 2025 Buy Or Sell Opportunity • Dec 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to NT$72.30. The fair value is estimated to be NT$90.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Major Estimate Revision • Nov 12
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$35.4b to NT$34.6b. EPS estimate also fell from NT$4.78 per share to NT$4.25 per share. Net income forecast to grow 3.9% next year vs 8.1% growth forecast for Metals and Mining industry in Taiwan. Consensus price target broadly unchanged at NT$85.50. Share price fell 3.8% to NT$78.90 over the past week. Reported Earnings • Nov 05
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: NT$0.78 (down from NT$0.91 in 3Q 2023). Revenue: NT$8.18b (up 1.4% from 3Q 2023). Net income: NT$456.1m (down 14% from 3Q 2023). Profit margin: 5.6% (down from 6.5% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Annonce • Oct 16
Feng Hsin Steel Co., Ltd. to Report Q3, 2024 Results on Oct 30, 2024 Feng Hsin Steel Co., Ltd. announced that they will report Q3, 2024 results on Oct 30, 2024 Annonce • Oct 02
Feng Hsin Steel Co., Ltd. Announces Demise of Lin Chiu-Huang, Corporate Director Representative Feng Hsin Steel Co., Ltd. announced the demise of Lin Chiu-Huang, Corporate Director Representative. Name of the functional committees: Nominating Committee. Date of occurrence of the change: October 1, 2024. Buy Or Sell Opportunity • Sep 04
Now 21% undervalued Over the last 90 days, the stock has risen 13% to NT$80.90. The fair value is estimated to be NT$102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 3.8% in a year. Earnings are forecast to grow by 12% in the next year. Price Target Changed • Aug 22
Price target increased by 8.0% to NT$80.67 Up from NT$74.67, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of NT$81.50. Stock is up 20% over the past year. The company is forecast to post earnings per share of NT$4.78 for next year compared to NT$4.08 last year. Reported Earnings • Aug 09
Second quarter 2024 earnings: EPS exceeds analyst expectations Second quarter 2024 results: EPS: NT$1.33 (up from NT$1.06 in 2Q 2023). Revenue: NT$9.02b (flat on 2Q 2023). Net income: NT$775.4m (up 26% from 2Q 2023). Profit margin: 8.6% (up from 6.8% in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 11%. Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Annonce • Jul 31
Feng Hsin Steel Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Feng Hsin Steel Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: NT$1.03 (vs NT$1.01 in 1Q 2023) First quarter 2024 results: EPS: NT$1.03 (up from NT$1.01 in 1Q 2023). Revenue: NT$8.50b (down 2.8% from 1Q 2023). Net income: NT$600.1m (up 1.7% from 1Q 2023). Profit margin: 7.1% (up from 6.7% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 04
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 11 April 2024. Payment date: 10 May 2024. Payout ratio is on the higher end at 86%, and the cash payout ratio is above 100%. Trailing yield: 4.8%. Within top quartile of Taiwanese dividend payers (4.6%). Higher than average of industry peers (2.8%). Reported Earnings • Mar 13
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: NT$4.08 (down from NT$5.28 in FY 2022). Revenue: NT$34.9b (down 9.6% from FY 2022). Net income: NT$2.38b (down 23% from FY 2022). Profit margin: 6.8% (down from 8.0% 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 3.2% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Declared Dividend • Mar 05
Dividend reduced to NT$3.50 Dividend of NT$3.50 is 13% lower than last year. Ex-date: 11th April 2024 Payment date: 10th May 2024 Dividend yield will be 5.0%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio) nor is it covered by cash flows (181% cash payout ratio). The dividend has increased by an average of 4.8% 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 6.0% to bring the payout ratio under control. EPS is expected to grow by 6.8% over the next 2 years, which should be enough to bring the dividend into a sustainable range. Annonce • Mar 01
Feng Hsin Steel Co., Ltd., Annual General Meeting, Jun 13, 2024 Feng Hsin Steel Co., Ltd., Annual General Meeting, Jun 13, 2024. Location: 259, Sec. 3, Houke Rd., Houli Dist.,Taichung(Administration Building) Taichung Taiwan Agenda: To report the business of 2023; to consider Audit Committee's review of the 2023 annual final accounting books and statements; to Report on 2023 employees' and directors' remuneration; to Report the Cash Dividend Earnings Distribution of 2023; to consider acknowledgment of the 2023 Business Report and Financial Statements; to consider acknowledgment of the 2023 Earnings Distribution; to consider discussion of amendments Rules of Procedure of a Shareholders Meeting; and to consider other matters. Reported Earnings • Oct 29
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: NT$0.91 (down from NT$1.01 in 3Q 2022). Revenue: NT$8.06b (down 8.8% from 3Q 2022). Net income: NT$528.1m (down 9.8% from 3Q 2022). Profit margin: 6.5% (down from 6.6% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.5%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 3.8% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Metals and Mining industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 3% per year. Buying Opportunity • Oct 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.4%. The fair value is estimated to be NT$79.72, 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 8.3%. Revenue is forecast to grow by 2.1% in a year. Earnings is forecast to grow by 1.8% in the next year. Reported Earnings • Jul 28
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: NT$1.06 (down from NT$1.56 in 2Q 2022). Revenue: NT$9.00b (down 17% from 2Q 2022). Net income: NT$615.0m (down 32% from 2Q 2022). Profit margin: 6.8% (down from 8.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 24%. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 10% per year. Buying Opportunity • May 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.5%. The fair value is estimated to be NT$85.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 17%. Upcoming Dividend • Mar 23
Upcoming dividend of NT$4.00 per share at 5.5% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 April 2023. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 5.5%. Lower than top quartile of Taiwanese dividend payers (6.0%). Higher than average of industry peers (3.8%). Price Target Changed • Mar 04
Price target increased by 8.8% to NT$78.00 Up from NT$71.67, the current price target is an average from 2 analysts. New target price is 6.4% above last closing price of NT$73.30. Stock is down 16% over the past year. The company posted earnings per share of NT$5.28 last year. Reported Earnings • Feb 24
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: NT$5.28 (down from NT$6.94 in FY 2021). Revenue: NT$38.6b (flat on FY 2021). Net income: NT$3.07b (down 24% from FY 2021). Profit margin: 8.0% (down from 11% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Annonce • Sep 27
Feng Hsin Steel Co., Ltd. Announces Impact of the Failure of the High-Voltage Switch in 161Kv Substation Feng Hsin Steel Co., Ltd. announced the high-voltage switch of the 161KV substation is faulty, and the whole plant is expected to be shut down for about 8 days for maintenance. Comparison of production capacity for the most recent three fiscal years and following the decrease in production: Adjusted the production plan, so the production capacity is expected to remain unchanged by the end of the year. Comparison of production output for the most recent three fiscal years and following the decrease in production: Adjusted the production plan, so the output is expected to remain unchanged by the end of the year. Production capacity of the fully or partially suspended work items: Production capacity is expected to remain unchanged by the end of the year. Production output of the fully or partially suspended work items: The output is expected to remain unchanged by the end of the year. Share of the company operating revenue that the fully or partially suspended work items account for: Revenue is not expected to be affected by the end of the year. Decision-making process: The production and business department readjusted the production and sales schedule. The chairman has approved the new schedule. It is estimated that there will be no significant. Price Target Changed • Aug 04
Price target decreased to NT$82.00 Down from NT$93.33, the current price target is an average from 2 analysts. New target price is 25% above last closing price of NT$65.50. Stock is down 18% over the past year. The company is forecast to post earnings per share of NT$5.23 for next year compared to NT$6.94 last year. Reported Earnings • Jul 29
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: NT$1.56 (down from NT$1.76 in 2Q 2021). Revenue: NT$10.9b (up 11% from 2Q 2021). Net income: NT$905.1m (down 11% from 2Q 2021). Profit margin: 8.3% (down from 10% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 9.0%. Earnings per share (EPS) missed analyst estimates by 1.3%. Over the next year, revenue is forecast to decline by 7.2% while the industry in Taiwan is not expected to grow. 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 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 03
Price target increased to NT$93.33 Up from NT$87.10, the current price target is an average from 3 analysts. New target price is 14% above last closing price of NT$82.10. Stock is up 1.5% over the past year. The company is forecast to post earnings per share of NT$6.83 for next year compared to NT$6.94 last year. Reported Earnings • Apr 28
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: NT$1.51 (up from NT$1.16 in 1Q 2021). Revenue: NT$9.95b (up 26% from 1Q 2021). Net income: NT$877.1m (up 30% from 1Q 2021). Profit margin: 8.8% (up from 8.5% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 14%. 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 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 31
Upcoming dividend of NT$5.00 per share Eligible shareholders must have bought the stock before 07 April 2022. Payment date: 06 May 2022. Payout ratio is a comfortable 72% but the company is paying out more than the cash it is generating. Trailing yield: 5.2%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (6.3%). Reported Earnings • Feb 27
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: NT$6.94 (up from NT$4.50 in FY 2020). Revenue: NT$38.4b (up 41% from FY 2020). Net income: NT$4.03b (up 54% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 9.0%, compared to a 11% growth forecast for the mining industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 13% per year. Annonce • Feb 26
Feng Hsin Steel Co.,Ltd, Annual General Meeting, Jun 09, 2022 Feng Hsin Steel Co.,Ltd, Annual General Meeting, Jun 09, 2022. Location: No. 259, Sec. 3, Houke Rd. Houli Dist.,Taichung(Administration Building) Taichung Taiwan Agenda: To report the business of 2021; to consider audit Committee's review of the 2021 annual final accounting books and statements; to report on 2021 employees' and directors' remuneration; to consider the Cash Dividend Earnings Distribution of 2021 ; and to consider other matters. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS NT$1.93 (vs NT$1.31 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$9.72b (up 48% from 3Q 2020). Net income: NT$1.12b (up 47% from 3Q 2020). Profit margin: 12% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 13
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 20 August 2021. Payment date: 15 September 2021. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$1.76 (vs NT$1.10 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: NT$9.81b (up 48% from 2Q 2020). Net income: NT$1.02b (up 60% from 2Q 2020). Profit margin: 10% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Executive Departure • Jul 25
CEO & Chairman Ming-Ju Lin has left the company During their tenure, earnings grew by 8.8% annually compared to the industry average, which went down by 5.1%. On the 22nd of July, Ming-Ju Lin left the company after 27.2 in the role. We don't have any record of a personal shareholding under Ming-Ju's name. Ming-Ju is the only executive to leave the company over the last 12 months. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 19% share price decline to NT$67.40, the stock trades at a trailing P/E ratio of 14.1x. Average forward P/E is 10x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$55.24 per share. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS NT$1.16 (vs NT$0.88 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$7.90b (up 21% from 1Q 2020). Net income: NT$674.9m (up 32% from 1Q 2020). Profit margin: 8.5% (up from 7.9% in 1Q 2020). The increase in margin was driven by higher revenue. 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 14% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 20% share price gain to NT$89.50, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Metals and Mining industry in Taiwan. Total returns to shareholders of 81% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$45.74 per share. Is New 90 Day High Low • Mar 11
New 90-day high: NT$73.00 The company is up 17% from its price of NT$62.30 on 11 December 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$43.52 per share. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue beats expectations Revenue exceeded analyst estimates by 0.0002%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 18% growth forecast for the Metals and Mining industry in Taiwan. Annonce • Feb 26
Feng Hsin Steel Co.,Ltd, Annual General Meeting, Jun 11, 2021 Feng Hsin Steel Co.,Ltd, Annual General Meeting, Jun 11, 2021. Location: No. 259, Sec. 3, Houke Rd., Houli Dist Taichung Taiwan Agenda: To report the business of 2020; to consider Audit Committee's review of the 2020 annual final accounting books and statements; to Report on 2020 employees' and directors' remuneration; to consider Acknowledgment of the 2020 Business Report and Financial Statements; to consider Acknowledgment of the 2020 Earnings Distribution; and to consider other matters thereon. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS NT$4.50 (vs NT$3.37 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$27.3b (down 1.6% from FY 2019). Net income: NT$2.62b (up 34% from FY 2019). Profit margin: 9.6% (up from 7.1% in FY 2019). The increase in margin was driven by lower expenses. 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 5% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Dec 10
New 90-day high: NT$61.50 The company is up 8.0% from its price of NT$56.80 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining 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 NT$47.73 per share. Is New 90 Day High Low • Nov 23
New 90-day high: NT$58.40 The company is up 5.0% from its price of NT$55.80 on 25 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining 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 NT$44.29 per share. Reported Earnings • Oct 31
Third quarter earnings released Over the last 12 months the company has reported total profits of NT$2.39b, up 4.1% from the prior year. Total revenue was NT$26.8b over the last 12 months, down 6.5% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 31
Third-quarter earnings released: Revenue behind estimates Third-quarter revenue missed analyst estimates by 0.001% at NT$6.55b. Earnings per share (EPS) were mostly in line with analyst estimates at NT$1.31. Revenue is forecast to grow 3.5% over the next year, compared to a 2.8% growth forecast for the Metals and Mining industry in Taiwan. Price Target Changed • Oct 29
Price target raised to NT$66.33 Up from NT$60.50, the current price target is an average from 4 analysts. The new target price is 16% above the current share price of NT$57.30. As of last close, the stock is up 8.7% over the past year. Price Target Changed • Oct 25
Price target raised to NT$62.17 Up from NT$57.33, the current price target is an average from 4 analysts. The new target price is 9.3% above the current share price of NT$56.90. As of last close, the stock is up 9.4% over the past year. Is New 90 Day High Low • Sep 21
New 90-day high: NT$58.30 The company is up 7.0% from its price of NT$54.30 on 23 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Metals and Mining industry, which is also up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$92.75 per share.