Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to NT$273, the stock trades at a trailing P/E ratio of 72.8x. Average trailing P/E is 40x in the Electronic industry in Taiwan. Total returns to shareholders of 586% over the past three years. Upcoming Dividend • Jul 02
Upcoming dividend of NT$1.80 per share Eligible shareholders must have bought the stock before 09 July 2026. Payment date: 29 July 2026. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Taiwanese dividend payers (5.0%). Lower than average of industry peers (1.3%). Declared Dividend • Jun 18
Dividend of NT$1.80 announced Shareholders will receive a dividend of NT$1.80. Ex-date: 9th July 2026 Payment date: 29th July 2026 Dividend yield will be 0.6%, which is lower than the industry average of 4.0%. Payout Ratios Payout ratio: 52%. Cash payout ratio: 33%. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$252, the stock trades at a trailing P/E ratio of 67.1x. Average trailing P/E is 40x in the Electronic industry in Taiwan. Total returns to shareholders of 514% over the past three years. New Risk • May 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 20% per year over the past 5 years. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$193, the stock trades at a trailing P/E ratio of 51.4x. Average trailing P/E is 36x in the Electronic industry in Taiwan. Total returns to shareholders of 396% over the past three years. Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$0.70 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00 (up from NT$0.70 in 1Q 2025). Revenue: NT$1.02b (up 7.7% from 1Q 2025). Net income: NT$204.5m (up 70% from 1Q 2025). Profit margin: 20% (up from 13% in 1Q 2025). The increase in margin was primarily 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 increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$89.90, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 28x in the Electronic industry in Taiwan. Total returns to shareholders of 126% over the past three years. Buy Or Sell Opportunity • Apr 16
Now 32% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to NT$83.90. The fair value is estimated to be NT$63.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 2.7%. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to NT$71.80, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 27x in the Electronic industry in Taiwan. Total returns to shareholders of 91% over the past three years. Reported Earnings • Mar 15
Full year 2025 earnings released: EPS: NT$3.26 (vs NT$2.91 in FY 2024) Full year 2025 results: EPS: NT$3.26 (up from NT$2.91 in FY 2024). Revenue: NT$4.06b (up 8.9% from FY 2024). Net income: NT$557.6m (up 12% from FY 2024). Profit margin: 14% (in line with FY 2024). 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 17% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Feb 26
Prosperity Dielectrics Co., Ltd., Annual General Meeting, Jun 11, 2026 Prosperity Dielectrics Co., Ltd., Annual General Meeting, Jun 11, 2026. Location: no,3, ch`ing nien rd., yangmei district, taoyuan city Taiwan Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$73.10, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 87% over the past three years. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to NT$64.30, the stock trades at a trailing P/E ratio of 23.6x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 84% over the past three years. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$74.10, the stock trades at a trailing P/E ratio of 27.1x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 138% over the past three years. Buy Or Sell Opportunity • Jan 14
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 55% to NT$76.60. The fair value is estimated to be NT$63.28, however this is not to be taken as a sell 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 9.7%. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$67.80, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 21x in the Electronic industry in Taiwan. Total returns to shareholders of 112% over the past three years. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: NT$1.18 (vs NT$0.52 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.18 (up from NT$0.52 in 3Q 2024). Revenue: NT$1.06b (up 8.4% from 3Q 2024). Net income: NT$202.7m (up 127% from 3Q 2024). Profit margin: 19% (up from 9.2% in 3Q 2024). The increase in margin was primarily driven by higher revenue. 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 22% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Nov 06
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 62% to NT$61.70. The fair value is estimated to be NT$50.35, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Earnings per share has declined by 24%. Buy Or Sell Opportunity • Oct 21
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 56% to NT$60.20. The fair value is estimated to be NT$50.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Earnings per share has declined by 24%. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$59.60, the stock trades at a trailing P/E ratio of 28.8x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 107% over the past three years. New Risk • Oct 14
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 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 19% per year over the past 5 years. 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 (6.7% average weekly change). Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$47.10, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 31% over the past three years. Buy Or Sell Opportunity • Sep 15
Now 22% undervalued Over the last 90 days, the stock has risen 6.7% to NT$39.90. The fair value is estimated to be NT$50.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Earnings per share has declined by 24%. Buy Or Sell Opportunity • Aug 29
Now 20% undervalued Over the last 90 days, the stock has risen 8.9% to NT$41.15. The fair value is estimated to be NT$51.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.1% over the last 3 years. Earnings per share has declined by 24%. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: NT$0.23 (vs NT$0.92 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.23 (down from NT$0.92 in 2Q 2024). Revenue: NT$1.11b (up 14% from 2Q 2024). Net income: NT$39.7m (down 75% from 2Q 2024). Profit margin: 3.6% (down from 16% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% 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. Upcoming Dividend • Jul 06
Upcoming dividend of NT$1.41 per share Eligible shareholders must have bought the stock before 10 July 2025. Payment date: 31 July 2025. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.1%). Declared Dividend • Jun 21
Dividend of NT$1.41 announced Shareholders will receive a dividend of NT$1.41. Ex-date: 10th July 2025 Payment date: 31st July 2025 Dividend yield will be 3.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 13% 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 decline by 44% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.3% EPS decline seen over the last 5 years. Annonce • Jun 20
Prosperity Dielectrics Co., Ltd. Approves Cash Dividend, Payable on July 31, 2025 On June 19, 2025, Prosperity Dielectrics Co., Ltd. in its the board of directors or shareholders meeting resolved ex dividend distribution: Original types and amounts of dividends distributed: The total cash dividend for common stock amounts to TWD 240,800,000 with a cash dividend of TWD 1.4 per share. Revised types and amounts of dividends distributed: The total cash dividend for common stock amounts to TWD 240,800,000 with a cash dividend of TWD 1.40654205 per share. Ex-rights (Ex-dividend) date: July 10, 2025. Ex-rights (Ex-dividend) record date: July 16, 2025. Payment date of cash dividend distribution: July 31, 2025. Reported Earnings • May 08
First quarter 2025 earnings released: EPS: NT$0.70 (vs NT$0.85 in 1Q 2024) First quarter 2025 results: EPS: NT$0.70 (down from NT$0.85 in 1Q 2024). Revenue: NT$944.2m (up 8.2% from 1Q 2024). Net income: NT$120.5m (down 18% from 1Q 2024). Profit margin: 13% (down from 17% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to NT$35.40. The fair value is estimated to be NT$44.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has declined by 38%. Annonce • Apr 27
Prosperity Dielectrics Co., Ltd. to Report Q1, 2025 Results on May 05, 2025 Prosperity Dielectrics Co., Ltd. announced that they will report Q1, 2025 results on May 05, 2025 Buy Or Sell Opportunity • Apr 08
Now 28% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to NT$32.90. The fair value is estimated to be NT$45.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has declined by 38%. Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: NT$2.91 (vs NT$2.64 in FY 2023) Full year 2024 results: EPS: NT$2.91 (up from NT$2.64 in FY 2023). Revenue: NT$3.72b (up 1.9% from FY 2023). Net income: NT$498.1m (up 10% from FY 2023). Profit margin: 13% (up from 12% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Annonce • Feb 20
Prosperity Dielectrics Co., Ltd., Annual General Meeting, Jun 17, 2025 Prosperity Dielectrics Co., Ltd., Annual General Meeting, Jun 17, 2025, at 09:30 Taipei Standard Time. Location: no,3, ch`ing nien rd., yangmei district, taoyuan city Taiwan Annonce • Feb 12
Prosperity Dielectrics Co., Ltd. to Report Fiscal Year 2024 Results on Feb 19, 2025 Prosperity Dielectrics Co., Ltd. announced that they will report fiscal year 2024 results on Feb 19, 2025 Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$49.95, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total loss to shareholders of 8.2% over the past three years. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: NT$0.52 (vs NT$0.66 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.52 (down from NT$0.66 in 3Q 2023). Revenue: NT$975.4m (up 2.8% from 3Q 2023). Net income: NT$89.4m (down 20% from 3Q 2023). Profit margin: 9.2% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Annonce • Oct 23
Prosperity Dielectrics Co., Ltd. to Report Nine Months, 2024 Results on Oct 30, 2024 Prosperity Dielectrics Co., Ltd. announced that they will report nine months, 2024 results on Oct 30, 2024 Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: NT$0.92 (vs NT$0.87 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.92 (up from NT$0.87 in 2Q 2023). Revenue: NT$971.3m (flat on 2Q 2023). Net income: NT$158.2m (up 6.6% from 2Q 2023). Profit margin: 16% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Annonce • Jul 24
Prosperity Dielectrics Co., Ltd. to Report Q2, 2024 Results on Aug 01, 2024 Prosperity Dielectrics Co., Ltd. announced that they will report Q2, 2024 results on Aug 01, 2024 Upcoming Dividend • Jul 03
Upcoming dividend of NT$1.21 per share Eligible shareholders must have bought the stock before 10 July 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.6%). Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.85 (vs NT$0.87 in 1Q 2023) First quarter 2024 results: EPS: NT$0.85 (down from NT$0.87 in 1Q 2023). Revenue: NT$872.6m (flat on 1Q 2023). Net income: NT$146.0m (down 2.4% from 1Q 2023). Profit margin: 17% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.1% to NT$45.30. The fair value is estimated to be NT$57.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Earnings per share has declined by 30%. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: NT$2.64 (vs NT$2.96 in FY 2022) Full year 2023 results: EPS: NT$2.64 (down from NT$2.96 in FY 2022). Revenue: NT$3.65b (down 12% from FY 2022). Net income: NT$451.4m (down 11% from FY 2022). Profit margin: 12% (in line with FY 2022). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Annonce • Feb 23
Prosperity Dielectrics Co., Ltd., Annual General Meeting, Jun 14, 2024 Prosperity Dielectrics Co., Ltd., Annual General Meeting, Jun 14, 2024, at 09:30 Taipei Standard Time. Location: E68 Conference Room, China Motor Training Center, No.3, Qingnian Rd., Yangmei Dist., Taoyuan City , Taiwan(R.O.C.) Tao Yuan City Taiwan Agenda: To consider The 2023 business report and final account report; To consider Audit Committee's Review Report; To consider The distribution report of compensation of employees and directors for the year 2023. Buy Or Sell Opportunity • Feb 17
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at NT$46.50. The fair value is estimated to be NT$38.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 23%. New Risk • Dec 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 16% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (11% net profit margin). Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$55.00, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 21x in the Electronic industry in Taiwan. Total loss to shareholders of 5.2% over the past three years. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: NT$0.66 (vs NT$0.70 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.66 (down from NT$0.70 in 3Q 2022). Revenue: NT$949.2m (up 8.5% from 3Q 2022). Net income: NT$112.4m (down 6.7% from 3Q 2022). Profit margin: 12% (down from 14% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.87 (vs NT$1.04 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.87 (down from NT$1.04 in 2Q 2022). Revenue: NT$966.1m (down 18% from 2Q 2022). Net income: NT$148.3m (down 17% from 2Q 2022). Profit margin: 15% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 9% per year. Upcoming Dividend • Jul 13
Upcoming dividend of NT$1.21 per share at 2.8% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 15 August 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%). Buying Opportunity • May 09
Now 22% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be NT$54.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has grown by 7.4%. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$43.00, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total loss to shareholders of 28% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.70 (vs NT$2.36 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.70 (down from NT$2.36 in 3Q 2021). Revenue: NT$874.6m (down 45% from 3Q 2021). Net income: NT$120.5m (down 70% from 3Q 2021). Profit margin: 14% (down from 26% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.70 (vs NT$2.36 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.70 (down from NT$2.36 in 3Q 2021). Revenue: NT$874.6m (down 45% from 3Q 2021). Net income: NT$120.5m (down 70% from 3Q 2021). Profit margin: 14% (down from 26% in 3Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: NT$1.04 (vs NT$1.27 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.04 (down from NT$1.27 in 2Q 2021). Revenue: NT$1.17b (down 28% from 2Q 2021). Net income: NT$178.4m (down 18% from 2Q 2021). Profit margin: 15% (up from 13% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 05
Upcoming dividend of NT$2.01 per share Eligible shareholders must have bought the stock before 12 July 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 31% and the cash payout ratio is 90%. Trailing yield: 5.2%. Lower than top quartile of Taiwanese dividend payers (6.7%). In line with average of industry peers (5.0%). Reported Earnings • May 08
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: NT$1.28 (down from NT$1.58 in 1Q 2021). Revenue: NT$1.27b (down 13% from 1Q 2021). Net income: NT$219.1m (down 19% from 1Q 2021). Profit margin: 17% (down from 19% in 1Q 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 77%. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • Mar 09
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: NT$6.67 (up from NT$4.60 in FY 2020). Revenue: NT$6.01b (up 15% from FY 2020). Net income: NT$1.14b (up 45% from FY 2020). Profit margin: 19% (up from 15% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 77%. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 9% per year. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS NT$2.36 (vs NT$1.77 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.58b (up 9.7% from 3Q 2020). Net income: NT$404.0m (up 33% from 3Q 2020). Profit margin: 26% (up from 21% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS NT$1.27 (vs NT$1.24 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$1.63b (up 23% from 2Q 2020). Net income: NT$217.3m (up 2.2% from 2Q 2020). Profit margin: 13% (down from 16% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 13% per year. Upcoming Dividend • Jul 21
Upcoming dividend of NT$2.01 per share Eligible shareholders must have bought the stock before 28 July 2021. Payment date: 18 August 2021. Trailing yield: 2.7%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (3.0%). Reported Earnings • May 14
First quarter 2021 earnings released: EPS NT$1.57 (vs NT$0.54 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.46b (up 35% from 1Q 2020). Net income: NT$270.8m (up 191% from 1Q 2020). Profit margin: 19% (up from 8.6% 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 9% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$4.60 (vs NT$4.49 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: NT$5.21b (up 20% from FY 2019). Net income: NT$791.3m (up 2.6% from FY 2019). Profit margin: 15% (down from 18% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 01
New 90-day low: NT$59.90 The company is down 2.0% from its price of NT$60.90 on 04 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 26% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: NT$70.20 The company is up 32% from its price of NT$53.20 on 11 September 2020. The Taiwanese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 12% over the same period. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS NT$1.77 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.44b (up 48% from 3Q 2019). Net income: NT$304.3m (up 77% from 3Q 2019). Profit margin: 21% (up from 18% 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 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 06
Market bids up stock over the past week After last week's 16% share price gain to NT$61.50, the stock is trading at a trailing P/E ratio of 16.8x, up from the previous P/E ratio of 14.5x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total returns to shareholders over the past three years are 102%. Is New 90 Day High Low • Nov 04
New 90-day high: NT$58.70 The company is up 4.0% from its price of NT$56.30 on 06 August 2020. The Taiwanese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 5.0% over the same period.