Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to NT$15.55, the stock trades at a trailing P/E ratio of 47.3x. Average trailing P/E is 22x in the Electrical industry in Taiwan. Total returns to shareholders of 31% over the past three years. Upcoming Dividend • Jul 20
Upcoming dividend of NT$0.33 per share Eligible shareholders must have bought the stock before 27 July 2026. Payment date: 25 August 2026. Payout ratio is on the higher end at 100%, and the cash payout ratio is above 100%. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to NT$22.90, the stock trades at a trailing P/E ratio of 69.6x. Average trailing P/E is 26x in the Electrical industry in Taiwan. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$20.00, the stock trades at a trailing P/E ratio of 60.8x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 59% over the past three years. Reported Earnings • May 19
First quarter 2026 earnings released: NT$0.01 loss per share (vs NT$0.013 profit in 1Q 2025) First quarter 2026 results: NT$0.01 loss per share (down from NT$0.013 profit in 1Q 2025). Revenue: NT$190.9m (up 30% from 1Q 2025). Net loss: NT$1.51m (down 211% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$0.36 (vs NT$0.052 in FY 2024) Full year 2025 results: EPS: NT$0.36 (up from NT$0.052 in FY 2024). Revenue: NT$690.3m (up 17% from FY 2024). Net income: NT$36.4m (up NT$31.2m from FY 2024). Profit margin: 5.3% (up from 0.9% in FY 2024). The increase in margin was driven by higher revenue. 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 20% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 09
AHOKU Electronic Company, Annual General Meeting, Jun 09, 2026 AHOKU Electronic Company, Annual General Meeting, Jun 09, 2026. Location: 5-1 floor no,92, sec.1 nei hu rd., neihu district, taipei city Taiwan Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to NT$28.70, the stock trades at a trailing P/E ratio of 65.2x. Average trailing P/E is 23x in the Electrical industry in Taiwan. Total returns to shareholders of 153% over the past three years. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$0.18 (vs NT$0.015 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.18 (up from NT$0.015 in 3Q 2024). Revenue: NT$207.1m (up 41% from 3Q 2024). Net income: NT$18.5m (up NT$17.0m from 3Q 2024). Profit margin: 8.9% (up from 1.0% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. New Risk • Oct 15
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 6.9% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 255% Paying a dividend despite having no free cash flows. Earnings have declined by 32% per year over the past 5 years. High level of non-cash earnings (36% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (NT$2.15b market cap, or US$70.1m). Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$18.75, the stock trades at a trailing P/E ratio of 68.7x. Average trailing P/E is 26x in the Electrical industry in Taiwan. Total returns to shareholders of 76% over the past three years. Upcoming Dividend • Sep 10
Upcoming dividend of NT$0.70 per share Eligible shareholders must have bought the stock before 17 September 2025. Payment date: 17 October 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to NT$18.75, the stock trades at a trailing P/E ratio of 68.7x. Average trailing P/E is 23x in the Electrical industry in Taiwan. Total returns to shareholders of 39% over the past three years. Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: NT$0.28 (vs NT$0.079 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.28 (up from NT$0.079 in 2Q 2024). Revenue: NT$180.3m (up 12% from 2Q 2024). Net income: NT$28.3m (up 258% from 2Q 2024). Profit margin: 16% (up from 4.9% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 63% 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 14
First quarter 2025 earnings released: EPS: NT$0.01 (vs NT$0.006 loss in 1Q 2024) First quarter 2025 results: EPS: NT$0.01 (up from NT$0.006 loss in 1Q 2024). Revenue: NT$146.9m (down 7.6% from 1Q 2024). Net income: NT$1.36m (up NT$1.99m from 1Q 2024). Profit margin: 0.9% (up from net loss in 1Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Annuncio • Apr 29
AHOKU Electronic Company to Report Q1, 2025 Results on May 07, 2025 AHOKU Electronic Company announced that they will report Q1, 2025 results on May 07, 2025 Buy Or Sell Opportunity • Apr 10
Now 28% overvalued Over the last 90 days, the stock has fallen 14% to NT$11.90. The fair value is estimated to be NT$9.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.2% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: NT$0.05 (vs NT$0.11 in FY 2023) Full year 2024 results: EPS: NT$0.05 (down from NT$0.11 in FY 2023). Revenue: NT$591.2m (down 1.4% from FY 2023). Net income: NT$5.27m (down 54% from FY 2023). Profit margin: 0.9% (down from 1.9% in FY 2023). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 10
AHOKU Electronic Company, Annual General Meeting, Jun 10, 2025 AHOKU Electronic Company, Annual General Meeting, Jun 10, 2025. Location: 5-1 floor no,92, sec.1 nei hu rd., neihu district, taipei city Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.02 (vs NT$0.065 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.02 (down from NT$0.065 in 3Q 2023). Revenue: NT$146.6m (flat on 3Q 2023). Net income: NT$1.50m (down 77% from 3Q 2023). Profit margin: 1.0% (down from 4.4% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Annuncio • Oct 30
AHOKU Electronic Company to Report Q3, 2024 Results on Nov 07, 2024 AHOKU Electronic Company announced that they will report Q3, 2024 results on Nov 07, 2024 Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$15.50, the stock trades at a trailing P/E ratio of 71.9x. Average trailing P/E is 24x in the Electrical industry in Taiwan. Total returns to shareholders of 46% over the past three years. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: NT$0.08 (vs NT$0.12 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.08 (down from NT$0.12 in 2Q 2023). Revenue: NT$160.4m (down 9.1% from 2Q 2023). Net income: NT$7.90m (down 31% from 2Q 2023). Profit margin: 4.9% (down from 6.5% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 09
Dividend increased to NT$0.32 Dividend of NT$0.32 is 113% higher than last year. Ex-date: 26th August 2024 Payment date: 20th September 2024 Dividend yield will be 2.2%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (127% earnings payout ratio) nor is it adequately covered by cash flows (94% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 41% to bring the payout ratio under control. However, EPS has declined by 3.9% over the last 5 years so the company would need to reverse this trend. Annuncio • Jul 30
AHOKU Electronic Company to Report Q2, 2024 Results on Aug 07, 2024 AHOKU Electronic Company announced that they will report Q2, 2024 results on Aug 07, 2024 New Risk • May 23
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 94% Dividend yield: 2.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Earnings have declined by 37% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (94% cash payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (NT$1.57b market cap, or US$48.7m). Reported Earnings • May 10
First quarter 2024 earnings released: NT$0.01 loss per share (vs NT$0.15 loss in 1Q 2023) First quarter 2024 results: NT$0.01 loss per share (improved from NT$0.15 loss in 1Q 2023). Revenue: NT$159.1m (up 4.4% from 1Q 2023). Net loss: NT$634.0k (loss narrowed 96% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Annuncio • Apr 26
AHOKU Electronic Company to Report Q1, 2024 Results on May 02, 2024 AHOKU Electronic Company announced that they will report Q1, 2024 results on May 02, 2024 Annuncio • Mar 29
AHOKU Electronic Company, Annual General Meeting, Jun 19, 2024 AHOKU Electronic Company, Annual General Meeting, Jun 19, 2024. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: NT$0.11 (vs NT$0.063 in FY 2022) Full year 2023 results: EPS: NT$0.11 (up from NT$0.063 in FY 2022). Revenue: NT$599.7m (down 20% from FY 2022). Net income: NT$11.3m (up 80% from FY 2022). Profit margin: 1.9% (up from 0.8% in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Annuncio • Mar 13
Ahoku Electronic Company Approves Cash Dividend for the Year Ended December 31, 2023 AHOKU Electronic Company approved dividend of TWD 0.32 per share for the year ended December 31, 2023. Total amount of cash distributed to shareholders TWD:32,130,880 . New Risk • Feb 19
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: 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$1.79b market cap, or US$56.9m). Upcoming Dividend • Aug 15
Upcoming dividend of NT$0.15 per share at 1.1% yield Eligible shareholders must have bought the stock before 22 August 2023. Payment date: 15 September 2023. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (5.7%). Lower than average of industry peers (3.4%). Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: NT$0.11 (vs NT$0.048 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$0.11 (up from NT$0.048 loss in 2Q 2022). Revenue: NT$176.4m (down 18% from 2Q 2022). Net income: NT$11.5m (up NT$16.3m from 2Q 2022). Profit margin: 6.5% (up from net loss in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Annuncio • Aug 05
AHOKU Electronic Company Declares Cash Dividend, Payable on September 15, 2023 AHOKU Electronic Company board of directors declared cash dividend to common shareholders: TWD 15,000,000 (TWD 0.15 per share). Ex-rights (ex-dividend) trading date: August 22, 2023. Ex-rights (ex-dividend) record date: August 28, 2023. Payment date of cash dividend distribution: September 15, 2023. Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: NT$0.06 (vs NT$0.019 loss in FY 2021) Full year 2022 results: EPS: NT$0.06 (up from NT$0.019 loss in FY 2021). Revenue: NT$748.4m (up 27% from FY 2021). Net income: NT$6.29m (up NT$8.20m from FY 2021). Profit margin: 0.8% (up from net loss in FY 2021). 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 • Aug 15
Second quarter 2022 earnings released: NT$0.05 loss per share (vs NT$0.017 loss in 2Q 2021) Second quarter 2022 results: NT$0.05 loss per share (down from NT$0.017 loss in 2Q 2021). Revenue: NT$216.2m (up 59% from 2Q 2021). Net loss: NT$4.81m (loss widened 183% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Mar 14
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: NT$0.02 loss per share (down from NT$0.57 profit in FY 2020). Revenue: NT$588.4m (down 28% from FY 2020). Net loss: NT$1.92m (down 103% from profit in FY 2020). Revenue missed analyst estimates by 26%. Over the last 3 years on average, earnings per share has increased by 5% per year and the company’s share price has also increased by 5% per year. Upcoming Dividend • Aug 24
Upcoming dividend of NT$0.10 per share Eligible shareholders must have bought the stock before 31 August 2021. Payment date: 23 September 2021. Trailing yield: 0.9%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.3%). Reported Earnings • May 03
First quarter 2021 earnings released: EPS NT$0.02 (vs NT$0.039 loss in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$133.5m (down 11% from 1Q 2020). Net income: NT$2.05m (up NT$6.04m from 1Q 2020). Profit margin: 1.5% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 74% 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 • Mar 23
Full year 2020 earnings released: EPS NT$0.57 (vs NT$0.64 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: NT$818.7m (up 20% from FY 2019). Net income: NT$57.8m (down 12% from FY 2019). Profit margin: 7.1% (down from 9.6% in FY 2019). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Annuncio • Mar 20
AHOKU Electronic Company Announces Appointment of Li, Wan-Ting as R&D Associate Vice President AHOKU Electronic Company announced name, title, and resume of the new position holder Li, Wan-Ting /R&D associate vice president, reason for the change is new replacement, effective date is February 20, 2021. Is New 90 Day High Low • Feb 17
New 90-day low: NT$10.75 The company is down 13% from its price of NT$12.40 on 19 November 2020. The Taiwanese market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 28
New 90-day low: NT$11.15 The company is down 11% from its price of NT$12.50 on 30 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 11% over the same period. Is New 90 Day High Low • Jan 12
New 90-day low: NT$11.90 The company is down 5.0% from its price of NT$12.50 on 14 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: NT$13.05 The company is up 19% from its price of NT$10.95 on 04 September 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 5.0% over the same period. Reported Earnings • Nov 14
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$237.0m (up 31% from 3Q 2019). Net income: NT$29.9m (up 86% from 3Q 2019). Profit margin: 13% (up from 8.9% 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 20% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 05
New 90-day high: NT$12.70 The company is up 10.0% from its price of NT$11.50 on 07 August 2020. The Taiwanese market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Electrical industry, which is also up 10.0% over the same period. Is New 90 Day High Low • Oct 14
New 90-day high: NT$12.50 The company is up 6.0% from its price of NT$11.75 on 16 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electrical industry, which is up 11% over the same period. Is New 90 Day High Low • Sep 21
New 90-day high: NT$11.95 The company is up 6.0% from its price of NT$11.25 on 23 June 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 15% over the same period. 
