New Risk • Apr 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 54% 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 Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Large one-off items impacting financial results. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$0.41 (vs NT$0.44 loss in FY 2024) Full year 2025 results: EPS: NT$0.41 (up from NT$0.44 loss in FY 2024). Revenue: NT$3.34b (up 3.5% from FY 2024). Net income: NT$52.5m (up NT$108.0m from FY 2024). Profit margin: 1.6% (up from net loss in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Annonce • Mar 06
Universal Microelectronics Co., Ltd., Annual General Meeting, Jun 16, 2026 Universal Microelectronics Co., Ltd., Annual General Meeting, Jun 16, 2026. Location: 5 floor no,2, kung yeh rd., industrial area, taichung city Taiwan Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: NT$0.69 (vs NT$0.41 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.69 (up from NT$0.41 loss in 3Q 2024). Revenue: NT$902.5m (up 22% from 3Q 2024). Net income: NT$88.5m (up NT$141.1m from 3Q 2024). Profit margin: 9.8% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. New Risk • Sep 12
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 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (NT$2.91b market cap, or US$96.1m). Reported Earnings • Aug 08
Second quarter 2025 earnings released: NT$1.10 loss per share (vs NT$0.31 loss in 2Q 2024) Second quarter 2025 results: NT$1.10 loss per share (further deteriorated from NT$0.31 loss in 2Q 2024). Revenue: NT$747.2m (up 7.0% from 2Q 2024). Net loss: NT$140.0m (loss widened 253% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.15 (vs NT$0.066 in 1Q 2024) First quarter 2025 results: EPS: NT$0.15 (up from NT$0.066 in 1Q 2024). Revenue: NT$816.1m (down 3.0% from 1Q 2024). Net income: NT$19.1m (up 128% from 1Q 2024). Profit margin: 2.3% (up from 1.0% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Annonce • May 01
Universal Microelectronics Co., Ltd. to Report Q1, 2025 Results on May 08, 2025 Universal Microelectronics Co., Ltd. announced that they will report Q1, 2025 results on May 08, 2025 Buy Or Sell Opportunity • Apr 01
Now 22% overvalued Over the last 90 days, the stock has fallen 12% to NT$23.00. The fair value is estimated to be NT$18.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.4% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 19
Full year 2024 earnings released: NT$0.44 loss per share (vs NT$0.84 profit in FY 2023) Full year 2024 results: NT$0.44 loss per share (down from NT$0.84 profit in FY 2023). Revenue: NT$3.23b (down 30% from FY 2023). Net loss: NT$55.5m (down 152% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Annonce • Mar 13
Universal Microelectronics Co., Ltd., Annual General Meeting, Jun 19, 2025 Universal Microelectronics Co., Ltd., Annual General Meeting, Jun 19, 2025, at 09:00 Taipei Standard Time. Location: 5 floor no,2, kung yeh rd., industrial area, taichung city Taiwan Annonce • Mar 12
Universal Microelectronics Co., Ltd. Appoints Liao Chih Wei as Chief Internal Auditor Universal Microelectronics Co., Ltd. appointed Liao Chih Wei /Manager of the General Manager's Office, UMEC, as Chief internal auditor. Effective date is March 11, 2025. Annonce • Mar 04
Universal Microelectronics Co., Ltd. to Report Q4, 2024 Results on Mar 11, 2025 Universal Microelectronics Co., Ltd. announced that they will report Q4, 2024 results on Mar 11, 2025 Annonce • Feb 21
Universal Microelectronics Co., Ltd. Announces Demise of OU,CHENG-MING, Corporate Director Universal Microelectronics Co., Ltd. announced Passing of a Company Director. Title and name of the previous position holder: Mr. OU,CHENG-MING, Corporate Director of UNIVERSL MICROELECTRONICS Co.,Ltd. Date of occurrence of the change February 20, 2025. Reason for the change: Death. New Risk • Dec 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.25b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.1% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.1% average weekly change). Minor Risk Market cap is less than US$100m (NT$3.25b market cap, or US$99.8m). Reported Earnings • Nov 18
Third quarter 2024 earnings released: NT$0.41 loss per share (vs NT$0.73 profit in 3Q 2023) Third quarter 2024 results: NT$0.41 loss per share (down from NT$0.73 profit in 3Q 2023). Revenue: NT$742.9m (down 37% from 3Q 2023). Net loss: NT$52.6m (down 157% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 20
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 27 August 2024. Payment date: 16 September 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (4.4%). Lower than average of industry peers (2.8%). Reported Earnings • Aug 17
Second quarter 2024 earnings released: NT$0.31 loss per share (vs NT$0.12 profit in 2Q 2023) Second quarter 2024 results: NT$0.31 loss per share (down from NT$0.12 profit in 2Q 2023). Revenue: NT$698.3m (down 40% from 2Q 2023). Net loss: NT$39.6m (down 356% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$19.50, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 22x in the Electronic industry in Taiwan. Total returns to shareholders of 5.7% over the past three years. Annonce • Aug 03
Universal Microelectronics Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024 Universal Microelectronics Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024 Annonce • Jun 27
Universal Microelectronics Co., Ltd. Approves 2023 Cash Dividends Universal Microelectronics Co., Ltd. at its AGM held on June 26, 2024 approved 2023 earning distribution. Allocated cash dividends of TWD 0.2 per share. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.07 (vs NT$0.31 in 1Q 2023) First quarter 2024 results: EPS: NT$0.07 (down from NT$0.31 in 1Q 2023). Revenue: NT$841.6m (down 33% from 1Q 2023). Net income: NT$8.37m (down 79% from 1Q 2023). Profit margin: 1.0% (down from 3.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Apr 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.18b (US$97.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (2.3% net profit margin). Market cap is less than US$100m (NT$3.18b market cap, or US$97.8m). Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: NT$0.84 (vs NT$2.07 in FY 2022) Full year 2023 results: EPS: NT$0.84 (down from NT$2.07 in FY 2022). Revenue: NT$4.60b (down 4.8% from FY 2022). Net income: NT$106.5m (down 59% from FY 2022). Profit margin: 2.3% (down from 5.4% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Annonce • Mar 13
Universal Microelectronics Co., Ltd., Annual General Meeting, Jun 26, 2024 Universal Microelectronics Co., Ltd., Annual General Meeting, Jun 26, 2024. Location: 5F., No. 2, Gongyequ 27th Rd., Nantun Dist., The Company's conference room on the fifth floor Taichung City Taiwan Agenda: To consider report on the Company's 2023 operating performance; to consider Audit Committee's review report on the 2023 financial statements; to consider report on external endorsement and guarantee of the Company; to consider report on the distribution of employee and director remuneration for 2023; to consider report on the amendment of the Company's Procedure for Board of Directors Meetings; to consider adoption of the Company's business report and financial statements for 2023; and to consider other matters. New Risk • Mar 13
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (42% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Dec 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (43% net debt to equity). Share price has been volatile over the past 3 months (5.5% average weekly change). New Risk • Nov 19
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 43% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: NT$0.73 (vs NT$0.81 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.73 (down from NT$0.81 in 3Q 2022). Revenue: NT$1.18b (down 10% from 3Q 2022). Net income: NT$92.7m (down 9.6% from 3Q 2022). Profit margin: 7.9% (up from 7.8% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 94% 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 • Nov 10
Upcoming dividend of NT$0.50 per share at 1.9% yield Eligible shareholders must have bought the stock before 17 November 2023. Payment date: 13 December 2023. Trailing yield: 1.9%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.3%). New Risk • Oct 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.09b (US$95.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risk Market cap is less than US$100m (NT$3.09b market cap, or US$95.6m). New Risk • Aug 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.12 (vs NT$0.34 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.12 (down from NT$0.34 in 2Q 2022). Revenue: NT$1.17b (down 4.8% from 2Q 2022). Net income: NT$15.5m (down 64% from 2Q 2022). Profit margin: 1.3% (down from 3.5% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$41.45, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 14x in the Electronic industry in Taiwan. Total returns to shareholders of 289% over the past three years. Reported Earnings • Mar 28
Full year 2022 earnings released: EPS: NT$2.07 (vs NT$0.35 in FY 2021) Full year 2022 results: EPS: NT$2.07 (up from NT$0.35 in FY 2021). Revenue: NT$4.83b (up 20% from FY 2021). Net income: NT$262.6m (up 487% from FY 2021). Profit margin: 5.4% (up from 1.1% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$34.55, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 194% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.81 (vs NT$0.11 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.81 (up from NT$0.11 in 3Q 2021). Revenue: NT$1.31b (up 29% from 3Q 2021). Net income: NT$102.5m (up NT$88.1m from 3Q 2021). Profit margin: 7.8% (up from 1.4% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.81 (vs NT$0.11 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.81 (up from NT$0.11 in 3Q 2021). Revenue: NT$1.31b (up 29% from 3Q 2021). Net income: NT$102.5m (up NT$88.1m from 3Q 2021). Profit margin: 7.8% (up from 1.4% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 15% share price gain to NT$27.15, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 65% over the past three years. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 17% share price gain to NT$26.40, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 10x in the Electronic industry in Taiwan. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improved over the past week After last week's 19% share price gain to NT$24.05, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 39% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.34 (vs NT$0.29 loss in 2Q 2021) Second quarter 2022 results: EPS: NT$0.34 (up from NT$0.29 loss in 2Q 2021). Revenue: NT$1.23b (up 27% from 2Q 2021). Net income: NT$43.4m (up NT$80.2m from 2Q 2021). Profit margin: 3.5% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: NT$0.22 (vs NT$0.077 in 1Q 2021) First quarter 2022 results: EPS: NT$0.22 (up from NT$0.077 in 1Q 2021). Revenue: NT$898.6m (down 18% from 1Q 2021). Net income: NT$28.3m (up 189% from 1Q 2021). Profit margin: 3.1% (up from 0.9% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.11 (vs NT$0.29 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.02b (down 5.1% from 3Q 2020). Net income: NT$14.4m (down 61% from 3Q 2020). Profit margin: 1.4% (down from 3.5% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 12
Second quarter 2021 earnings released: NT$0.29 loss per share (vs NT$0.29 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses were not reduced. Second quarter 2021 results: Revenue: NT$967.5m (up 11% from 2Q 2020). Net loss: NT$36.7m (flat on 2Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • May 13
First quarter 2021 earnings released: EPS NT$0.08 (vs NT$0.28 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$1.09b (up 41% from 1Q 2020). Net income: NT$9.81m (up NT$45.1m from 1Q 2020). Profit margin: 0.9% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: NT$0.10 loss per share (vs NT$1.48 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: NT$3.80b (up 4.5% from FY 2019). Net loss: NT$12.3m (loss narrowed 94% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 15
New 90-day high: NT$27.95 The company is up 46% from its price of NT$19.10 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 29% over the same period. Is New 90 Day High Low • Dec 23
New 90-day high: NT$25.55 The company is up 71% from its price of NT$14.90 on 24 September 2020. The Taiwanese market is up 12% 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. Is New 90 Day High Low • Nov 25
New 90-day high: NT$21.15 The company is up 35% from its price of NT$15.70 on 27 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 5.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.29 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.08b (up 22% from 3Q 2019). Net income: NT$37.3m (up NT$80.6m from 3Q 2019). Profit margin: 3.5% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 15
New 90-day high: NT$19.60 The company is up 20% from its price of NT$16.30 on 17 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 4.0% over the same period.