Reported Earnings • May 09
First quarter 2026 earnings released: EPS: NT$0.68 (vs NT$0.62 in 1Q 2025) First quarter 2026 results: EPS: NT$0.68 (up from NT$0.62 in 1Q 2025). Revenue: NT$451.3m (up 31% from 1Q 2025). Net income: NT$45.8m (up 9.3% from 1Q 2025). Profit margin: 10% (down from 12% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Asia. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 12
Magnate Technology Co., Ltd., Annual General Meeting, Jun 11, 2026 Magnate Technology Co., Ltd., Annual General Meeting, Jun 11, 2026. Location: no,23, lu k`o 5th rd., lujhu district, kaohsiung city Taiwan New Risk • Feb 06
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: 1.8% 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: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$2.89b market cap, or US$91.2m). Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$47.75, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 44x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 72% over the past three years. Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$47.75, the stock trades at a trailing P/E ratio of 29x. Average forward P/E is 37x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 59% over the past three years. New Risk • Nov 18
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 12% 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. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (NT$2.77b market cap, or US$88.8m). Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: NT$0.94 (vs NT$0.57 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.94 (up from NT$0.57 in 3Q 2024). Revenue: NT$427.4m (up 8.3% from 3Q 2024). Net income: NT$63.6m (up 66% from 3Q 2024). Profit margin: 15% (up from 9.7% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.04b (US$99.2m) 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 Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (NT$3.04b market cap, or US$99.2m). Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to NT$55.10, the stock trades at a trailing P/E ratio of 43.2x. Average forward P/E is 41x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 89% over the past three years. New Risk • Aug 14
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 09
Second quarter 2025 earnings released: NT$0.57 loss per share (vs NT$0.18 profit in 2Q 2024) Second quarter 2025 results: NT$0.57 loss per share (down from NT$0.18 profit in 2Q 2024). Revenue: NT$407.2m (up 17% from 2Q 2024). Net loss: NT$38.6m (down 417% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. New Risk • Jul 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$2.82b (US$97.0m) 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 (13% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (NT$2.82b market cap, or US$97.0m). Upcoming Dividend • Jul 01
Upcoming dividend of NT$0.75 per share Eligible shareholders must have bought the stock before 08 July 2025. Payment date: 13 August 2025. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.3%). New Risk • May 21
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (12% average weekly change). Price Target Changed • May 19
Price target increased by 11% to NT$38.00 Up from NT$34.33, the current price target is provided by 1 analyst. New target price is 27% below last closing price of NT$52.10. Stock is up 71% over the past year. The company is forecast to post earnings per share of NT$1.41 for next year compared to NT$1.26 last year. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: NT$0.62 (vs NT$0.15 loss in 1Q 2024) First quarter 2025 results: EPS: NT$0.62 (up from NT$0.15 loss in 1Q 2024). Revenue: NT$343.5m (up 20% from 1Q 2024). Net income: NT$41.9m (up NT$52.2m from 1Q 2024). Profit margin: 12% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Annuncio • May 01
Magnate Technology Co., Ltd. to Report Q1, 2025 Results on May 08, 2025 Magnate Technology Co., Ltd. announced that they will report Q1, 2025 results on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$44.80, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 30x in the Aerospace & Defense industry in Asia. Total returns to shareholders of 103% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$45.90, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 32x in the Aerospace & Defense industry in Asia. Total returns to shareholders of 111% over the past three years. New Risk • Mar 12
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.7% 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. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (6.7% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (NT$2.74b market cap, or US$83.1m). Reported Earnings • Mar 11
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: NT$1.26 (up from NT$1.12 loss in FY 2023). Revenue: NT$1.42b (up 18% from FY 2023). Net income: NT$84.9m (up NT$160.9m from FY 2023). Profit margin: 6.0% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) exceeded analyst estimates by 21%. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Annuncio • Mar 10
Magnate Technology Co., Ltd., Annual General Meeting, Jun 11, 2025 Magnate Technology Co., Ltd., Annual General Meeting, Jun 11, 2025. Location: no,23, lu k`o 5th rd., lujhu district, kaohsiung city Taiwan New Risk • Mar 10
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 6.1% 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 Risks Debt is not well covered by operating cash flow (1.6% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.60b market cap, or US$79.1m). Annuncio • Feb 27
Magnate Technology Co., Ltd. to Report Q4, 2024 Results on Mar 07, 2025 Magnate Technology Co., Ltd. announced that they will report Q4, 2024 results on Mar 07, 2025 New Risk • Dec 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.2% 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 Risks Debt is not well covered by operating cash flow (1.6% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.22b market cap, or US$68.4m). New Risk • Dec 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 566% 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 Risks Debt is not well covered by operating cash flow (1.6% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.19b market cap, or US$67.5m). Reported Earnings • Nov 18
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: NT$0.57 (up from NT$0.041 loss in 3Q 2023). Revenue: NT$394.5m (up 26% from 3Q 2023). Net income: NT$38.4m (up NT$41.1m from 3Q 2023). Profit margin: 9.7% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.6%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Aerospace & Defense industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. New Risk • Aug 24
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.0% 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.0% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 285% Minor Risk Market cap is less than US$100m (NT$1.80b market cap, or US$56.6m). Reported Earnings • Aug 17
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: NT$0.18 (up from NT$0.16 loss in 2Q 2023). Revenue: NT$346.8m (up 15% from 2Q 2023). Net income: NT$12.2m (up NT$22.9m from 2Q 2023). Profit margin: 3.5% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 36%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Aerospace & Defense industry in Taiwan. 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 8% per year, which means it is well ahead of earnings. Price Target Changed • Aug 06
Price target decreased by 21% to NT$29.50 Down from NT$37.50, the current price target is an average from 2 analysts. New target price is 23% above last closing price of NT$24.00. Stock is down 35% over the past year. The company is forecast to post earnings per share of NT$0.88 next year compared to a net loss per share of NT$1.12 last year. Annuncio • Aug 02
Magnate Technology Co., Ltd. to Report Q2, 2024 Results on Aug 09, 2024 Magnate Technology Co., Ltd. announced that they will report Q2, 2024 results on Aug 09, 2024 New Risk • Jun 06
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 9.9% 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.9% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 133% Minor Risk Market cap is less than US$100m (NT$2.00b market cap, or US$62.0m). Reported Earnings • May 12
First quarter 2024 earnings: EPS misses analyst expectations First quarter 2024 results: NT$0.15 loss per share (improved from NT$0.34 loss in 1Q 2023). Revenue: NT$285.6m (flat on 1Q 2023). Net loss: NT$10.2m (loss narrowed 56% from 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Aerospace & Defense industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 19% per year. Annuncio • Apr 26
Magnate Technology Co., Ltd. to Report Q1, 2024 Results on Apr 26, 2024 Magnate Technology Co., Ltd. announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Mar 16
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: NT$1.12 loss per share (down from NT$1.80 profit in FY 2022). Revenue: NT$1.20b (down 12% from FY 2022). Net loss: NT$76.0m (down 162% from profit in FY 2022). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Aerospace & Defense industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 11
Magnate Technology Co., Ltd., Annual General Meeting, Jun 12, 2024 Magnate Technology Co., Ltd., Annual General Meeting, Jun 12, 2024. Location: No. 21, Luke 5th Rd., Luzhu Dist Kaohsiung Science Park Conference Room Kaohsiung City Taiwan Agenda: To consider 2023 business report; to consider audit committee's review of the 2023 annual final accounting ledgers and statements; to consider report on 2023 employees' and directors' remuneration; to consider report the formulation to the company's rules of corporate governance best practice principles; to consider report the amendment to the company's rules of procedure for meetings of its board of directors; to consider acknowledgment of the 2023 annual final accounting ledgers and statements; to consider acknowledgment of the 2023 deficit compensation; to consider election of new directors; to consider discussion to approve the lifting of non-competition restrictions for directors; and to consider other issues. Major Estimate Revision • Oct 05
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$1.39b to NT$1.21b. Forecast loss of -NT$0.58, down from profit of NT$0.67 per share profit previously. Aerospace & Defense industry in Taiwan expected to see average net income growth of 45% next year. Consensus price target down from NT$53.00 to NT$34.00. Share price fell 3.7% to NT$32.85 over the past week. New Risk • Aug 07
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 44% 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. Currently, the following risks have been identified for the company: Minor Risks High level of debt (44% net debt to equity). Dividend is not well covered by earnings (118% payout ratio). Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (NT$2.54b market cap, or US$80.0m). New Risk • Aug 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.9% Last year net profit margin: 7.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (249% payout ratio). Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (NT$2.60b market cap, or US$82.0m). Reported Earnings • Aug 05
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: NT$0.16 loss per share (down from NT$0.47 profit in 2Q 2022). Revenue: NT$301.4m (down 12% from 2Q 2022). Net loss: NT$10.7m (down 134% from profit in 2Q 2022). Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Aerospace & Defense industry in Asia. 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 26% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 27
Upcoming dividend of NT$1.40 per share at 3.3% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 03 August 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$47.20, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 34x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 167% over the past three years. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to NT$40.75, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 29x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 139% over the past three years. Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: NT$1.80 (vs NT$0.002 in FY 2021) Full year 2022 results: EPS: NT$1.80 (up from NT$0.002 in FY 2021). Revenue: NT$1.37b (up 29% from FY 2021). Net income: NT$122.0m (up NT$121.9m from FY 2021). Profit margin: 8.9% (up from 0% 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 52% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 07
Now 20% undervalued Over the last 90 days, the stock is up 9.7%. The fair value is estimated to be NT$38.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Jan 06
Now 21% undervalued Over the last 90 days, the stock is up 3.0%. The fair value is estimated to be NT$38.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company has become profitable. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: NT$0.75 (vs NT$0.33 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.75 (up from NT$0.33 in 3Q 2021). Revenue: NT$395.3m (up 43% from 3Q 2021). Net income: NT$50.7m (up 125% from 3Q 2021). Profit margin: 13% (up from 8.1% in 3Q 2021). 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 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$30.30, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 26x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 23% over the past three years. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: NT$0.47 (vs NT$0.059 loss in 2Q 2021) Second quarter 2022 results: EPS: NT$0.47 (up from NT$0.059 loss in 2Q 2021). Revenue: NT$341.8m (up 27% from 2Q 2021). Net income: NT$31.8m (up NT$35.8m from 2Q 2021). Profit margin: 9.3% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improved over the past week After last week's 17% share price gain to NT$30.25, the stock trades at a trailing P/E ratio of 41.1x. Average trailing P/E is 37x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 7.9% over the past three years. Upcoming Dividend • Jun 27
Upcoming dividend of NT$0.40 per share Eligible shareholders must have bought the stock before 04 July 2022. Payment date: 04 August 2022. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Taiwanese dividend payers (6.3%). Lower than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improved over the past week After last week's 16% share price gain to NT$28.10, the stock trades at a trailing P/E ratio of 38.2x. Average trailing P/E is 35x in the Aerospace & Defense industry in Taiwan. Total returns to shareholders of 2.6% over the past three years. Reported Earnings • May 07
First quarter 2022 earnings released: EPS: NT$0.27 (vs NT$0.46 loss in 1Q 2021) First quarter 2022 results: EPS: NT$0.27 (up from NT$0.46 loss in 1Q 2021). Revenue: NT$304.0m (up 42% from 1Q 2021). Net income: NT$18.5m (up NT$49.7m from 1Q 2021). Profit margin: 6.1% (up from net loss in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 27
Price target increased to NT$30.00 Up from NT$27.00, the current price target is provided by 1 analyst. New target price is 20% above last closing price of NT$24.90. Stock is up 17% over the past year. The company posted earnings per share of NT$0.0018 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: NT$1.06b (up 18% from FY 2020). Net income: NT$119.0k (up NT$77.3m from FY 2020). Profit margin: 0% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Price Target Changed • Nov 19
Price target increased to NT$30.00 Up from NT$27.00, the current price target is provided by 1 analyst. New target price is 21% above last closing price of NT$24.70. Stock is up 33% over the past year. The company posted a net loss per share of NT$1.13 last year. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.33 (vs NT$0.47 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$277.0m (up 49% from 3Q 2020). Net income: NT$22.5m (up NT$54.4m from 3Q 2020). Profit margin: 8.1% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Aug 19
Upcoming dividend of NT$0.20 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 30 September 2021. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (5.2%). Lower than average of industry peers (1.2%). Reported Earnings • Aug 09
Second quarter 2021 earnings released: NT$0.06 loss per share (vs NT$0.37 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: NT$269.6m (up 19% from 2Q 2020). Net loss: NT$4.01m (loss narrowed 84% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • May 06
First quarter 2021 earnings released: NT$0.46 loss per share (vs NT$0.11 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: NT$214.7m (down 31% from 1Q 2020). Net loss: NT$31.2m (loss widened 301% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Annuncio • Mar 19
Magnate Technology Co., Ltd., Annual General Meeting, Jun 15, 2021 Magnate Technology Co., Ltd., Annual General Meeting, Jun 15, 2021. Reported Earnings • Mar 19
Full year 2020 earnings released: NT$1.13 loss per share (vs NT$1.02 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NT$902.5m (down 43% from FY 2019). Net loss: NT$77.1m (down 209% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 17% 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. Is New 90 Day High Low • Feb 18
New 90-day low: NT$17.25 The company is down 7.0% from its price of NT$18.55 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is down 5.0% over the same period. Is New 90 Day High Low • Jan 29
New 90-day low: NT$17.40 The company is down 5.0% from its price of NT$18.30 on 30 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is flat over the same period. Is New 90 Day High Low • Jan 12
New 90-day low: NT$18.00 The company is down 6.0% from its price of NT$19.10 on 15 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is up 2.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day high: NT$19.45 The company is up 4.0% from its price of NT$18.70 on 23 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Aerospace & Defense industry, which is flat over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: NT$0.47 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: NT$186.3m (down 56% from 3Q 2019). Net loss: NT$31.8m (down 212% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 27
New 90-day low: NT$18.45 The company is down 4.0% from its price of NT$19.30 on 29 July 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is up 2.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: NT$18.50 The company is down 8.0% from its price of NT$20.10 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Aerospace & Defense industry, which is down 9.0% over the same period.