Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$4.00 (vs NT$4.52 in 1Q 2025) First quarter 2026 results: EPS: NT$4.00. Revenue: NT$2.30b (up 3.6% from 1Q 2025). Net income: NT$330.1m (up 1.0% from 1Q 2025). Profit margin: 14% (in line with 1Q 2025). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Commercial Services industry in Asia. Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$18.44 (vs NT$17.43 in FY 2024) Full year 2025 results: EPS: NT$18.44 (up from NT$17.43 in FY 2024). Revenue: NT$9.66b (up 13% from FY 2024). Net income: NT$1.34b (up 6.5% from FY 2024). Profit margin: 14% (in line with FY 2024). Revenue is expected to decline by 3.7% p.a. on average during the next 2 years, while revenues in the Commercial Services industry in Asia are expected to grow by 8.6%. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 3% per year. Annuncio • Mar 10
ECOVE Environment Corp., Annual General Meeting, May 25, 2026 ECOVE Environment Corp., Annual General Meeting, May 25, 2026, at 09:00 Taipei Standard Time. Location: no,127, sec.7 chung shan n. rd., shihlin district, taipei city Taiwan Reported Earnings • Nov 05
Third quarter 2025 earnings released: EPS: NT$5.38 (vs NT$4.89 in 3Q 2024) Third quarter 2025 results: EPS: NT$5.38 (up from NT$4.89 in 3Q 2024). Revenue: NT$2.66b (up 16% from 3Q 2024). Net income: NT$390.9m (up 11% from 3Q 2024). Profit margin: 15% (in line with 3Q 2024). Revenue is expected to decline by 3.3% p.a. on average during the next 3 years, while revenues in the Commercial Services industry in Asia are expected to grow by 13%. Over the last 3 years on average, earnings per share has increased by 6% per year and the company’s share price has also increased by 6% per year. New Risk • Aug 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 34% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (34% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Upcoming Dividend • Jun 26
Upcoming dividend of NT$15.24 per share Eligible shareholders must have bought the stock before 03 July 2025. Payment date: 23 July 2025. Payout ratio and cash payout ratio are on the higher end at 86% and 77% respectively. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (4.4%). Declared Dividend • Jun 04
Dividend of NT$15.30 announced Shareholders will receive a dividend of NT$15.30. Ex-date: 3rd July 2025 Payment date: 23rd July 2025 Dividend yield will be 5.1%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 5.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 06
First quarter 2025 earnings released: EPS: NT$4.52 (vs NT$4.15 in 1Q 2024) First quarter 2025 results: EPS: NT$4.52 (up from NT$4.15 in 1Q 2024). Revenue: NT$2.22b (up 14% from 1Q 2024). Net income: NT$326.9m (up 9.8% from 1Q 2024). Profit margin: 15% (in line with 1Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 10% growth forecast for the Commercial Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Annuncio • Apr 27
ECOVE Environment Corp. to Report Q1, 2025 Results on May 05, 2025 ECOVE Environment Corp. announced that they will report Q1, 2025 results on May 05, 2025 Reported Earnings • Mar 09
Full year 2024 earnings released: EPS: NT$17.43 (vs NT$16.36 in FY 2023) Full year 2024 results: EPS: NT$17.43 (up from NT$16.36 in FY 2023). Revenue: NT$8.53b (up 12% from FY 2023). Net income: NT$1.26b (up 7.9% from FY 2023). Profit margin: 15% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 9% per year and the company’s share price has also increased by 9% per year. Annuncio • Feb 27
ECOVE Environment Corp., Annual General Meeting, May 28, 2025 ECOVE Environment Corp., Annual General Meeting, May 28, 2025. Location: no,127, sec.7 chung shan n. rd., shihlin district, taipei city Taiwan Annuncio • Feb 19
ECOVE Environment Corp. to Report Q4, 2024 Results on Feb 26, 2025 ECOVE Environment Corp. announced that they will report Q4, 2024 results on Feb 26, 2025 New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: NT$4.89 (vs NT$4.65 in 3Q 2023) Third quarter 2024 results: EPS: NT$4.89 (up from NT$4.65 in 3Q 2023). Revenue: NT$2.29b (up 11% from 3Q 2023). Net income: NT$353.2m (up 6.4% from 3Q 2023). Profit margin: 15% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year. Annuncio • Oct 26
ECOVE Environment Corp. to Report Q3, 2024 Results on Nov 04, 2024 ECOVE Environment Corp. announced that they will report Q3, 2024 results on Nov 04, 2024 Reported Earnings • Aug 04
Second quarter 2024 earnings released: EPS: NT$4.60 (vs NT$4.61 in 2Q 2023) Second quarter 2024 results: EPS: NT$4.60. Revenue: NT$2.10b (up 8.5% from 2Q 2023). Net income: NT$331.1m (up 1.2% from 2Q 2023). Profit margin: 16% (down from 17% in 2Q 2023). The decrease in margin was driven by higher expenses. Annuncio • Jul 24
ECOVE Environment Corp. to Report Q2, 2024 Results on Jul 31, 2024 ECOVE Environment Corp. announced that they will report Q2, 2024 results on Jul 31, 2024 Upcoming Dividend • Jun 27
Upcoming dividend of NT$14.49 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 24 July 2024. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 4.6%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.8%). Declared Dividend • May 29
Dividend increased to NT$14.59 Dividend of NT$14.59 is 8.0% higher than last year. Ex-date: 4th July 2024 Payment date: 24th July 2024 Dividend yield will be 4.7%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 4.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 5.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: NT$4.15 (vs NT$4.01 in 1Q 2023) First quarter 2024 results: EPS: NT$4.15 (up from NT$4.01 in 1Q 2023). Revenue: NT$1.95b (up 6.0% from 1Q 2023). Net income: NT$297.7m (up 4.8% from 1Q 2023). Profit margin: 15% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% per year. Annuncio • Apr 26
ECOVE Environment Corp. to Report Q1, 2024 Results on May 02, 2024 ECOVE Environment Corp. announced that they will report Q1, 2024 results on May 02, 2024 Reported Earnings • Mar 08
Full year 2023 earnings released: EPS: NT$16.36 (vs NT$14.91 in FY 2022) Full year 2023 results: EPS: NT$16.36 (up from NT$14.91 in FY 2022). Revenue: NT$7.63b (up 8.5% from FY 2022). Net income: NT$1.16b (up 11% from FY 2022). Profit margin: 15% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year. Annuncio • Mar 05
ECOVE Environment Corp., Annual General Meeting, May 27, 2024 ECOVE Environment Corp., Annual General Meeting, May 27, 2024. Location: Mellow Fields Hotel 502 Room, No.127, Sec. 7, Zhongshan N. Rd., Shilin Dist Taipei City Taiwan Agenda: To consider the Company's business report of 2023; to consider the audit committee's review report of 2023; to consider the Directors & Employee's compensation of 2023; to consider the aggregate amount of guarantees provided by the Company; to consider the distribution of cash dividends report of 2023; to consider the Company and ECOVE Solvent Recycling Corp. shares transfer report; to consider the adoption of the Company's 2023 business report and financial statements; to consider the adoption of the Company's distribution of 2023 profits; to consider the approval of removing the non-competition restrictions on board directors; to consider the approval of the Amendment to the Company's Articles of Incorporation; and to consider the approval of the Amendment to the Company's the Procedure for Marking of Endorsements or Guarantees. Annuncio • Mar 01
ECOVE Environment Corp., Annual General Meeting, May 21, 2024 ECOVE Environment Corp., Annual General Meeting, May 21, 2024. Location: 201 Room, 2 Fl., No. 16, Fushan Road Beitou District Taipei City Taiwan Agenda: To consider the Company's business report of 2023; to consider supervisors' review report of 2023; to consider 2023 Distribution of board directors & supervisors compensation, and employees' compensation; to consider adoption of the Company's 2023 business report and financial statements; to consider adoption of the Company's distribution of 2023 profits; and to consider other matters. Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: NT$4.65 (vs NT$4.34 in 3Q 2022) Third quarter 2023 results: EPS: NT$4.65 (up from NT$4.34 in 3Q 2022). Revenue: NT$2.07b (up 9.0% from 3Q 2022). Net income: NT$332.0m (up 8.8% from 3Q 2022). Profit margin: 16% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 14% per year. Annuncio • Sep 23
ECOVE Environment Corp. Announces President Changes ECOVE Environment Corp. announced the retirement of Y. P. Shih as President, effective September 22, 2023. The company announced the appointment of H. H. Tiao as President, effective September 22, 2023. H. H. Tiao is Executive Vice President of ECOVE Environment Corp. Reported Earnings • Aug 02
Second quarter 2023 earnings released: EPS: NT$4.61 (vs NT$3.78 in 2Q 2022) Second quarter 2023 results: EPS: NT$4.61 (up from NT$3.78 in 2Q 2022). Revenue: NT$1.94b (up 14% from 2Q 2022). Net income: NT$327.2m (up 24% from 2Q 2022). Profit margin: 17% (up from 16% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 14% per year. Upcoming Dividend • Jun 26
Upcoming dividend of NT$13.51 per share at 4.4% yield Eligible shareholders must have bought the stock before 03 July 2023. Payment date: 21 July 2023. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (5.5%). In line with average of industry peers (4.2%). Annuncio • Jun 16
Ecove Environment Corp. Announces Adjustment to the Payout Ratio from 2022 ECOVE Environment Corp. announced adjustment to the payout ratio from 2022. Type and monetary amount of original dividend distribution: TWD 960,072,657 (TWD 13.58 Per share). Type and monetary amount of dividend distribution after the change: TWD 960,072,657 (TWD 13.50609174 Per share). Reported Earnings • Mar 10
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: NT$14.91 (up from NT$13.15 in FY 2021). Revenue: NT$7.03b (up 18% from FY 2021). Net income: NT$1.05b (up 15% from FY 2021). Profit margin: 15% (in line with FY 2021). Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) also surpassed analyst estimates by 5.7%. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 10% per year. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 3 highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Shan-Shan Chou was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 06
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: NT$4.34 (up from NT$4.02 in 3Q 2021). Revenue: NT$1.90b (up 19% from 3Q 2021). Net income: NT$305.2m (up 9.6% from 3Q 2021). Profit margin: 16% (down from 17% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Commercial Services industry in Asia. 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. Reported Earnings • Jul 31
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: NT$3.78 (up from NT$3.39 in 2Q 2021). Revenue: NT$1.69b (up 21% from 2Q 2021). Net income: NT$263.9m (up 13% from 2Q 2021). Profit margin: 16% (down from 17% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 8.6%. Over the next year, revenue is forecast to stay flat compared to a 11% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Jun 24
Upcoming dividend of NT$11.94 per share Eligible shareholders must have bought the stock before 01 July 2022. Payment date: 27 July 2022. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (6.4%). In line with average of industry peers (4.9%). Annuncio • Jun 03
ECOVE Environment Corp. Announces Cash Dividend, Payable on July 27, 2022 ECOVE Environment Corp. announced cash dividends to common share holders TWD 834,674,594 (TWD 11.99 per share based on common share outstanding is 69,614,228 shares). Ex-rights (ex-dividend) trading date is July 1, 2022. Ex-rights (ex-dividend) record date is July 9, 2022. Payment date of cash dividend distribution is July 27, 2022. Reported Earnings • May 05
First quarter 2022 earnings released: EPS: NT$3.27 (vs NT$3.06 in 1Q 2021) First quarter 2022 results: EPS: NT$3.27 (up from NT$3.06 in 1Q 2021). Revenue: NT$1.59b (up 12% from 1Q 2021). Net income: NT$227.7m (up 7.7% from 1Q 2021). Profit margin: 14% (in line with 1Q 2021). 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 9% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). Independent Director Shan-Shan Chou was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: NT$13.15 (up from NT$12.53 in FY 2020). Revenue: NT$5.96b (up 5.6% from FY 2020). Net income: NT$910.8m (up 8.1% from FY 2020). Profit margin: 15% (in line with FY 2020). Revenue exceeded analyst estimates by 13%. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS NT$4.02 (vs NT$3.77 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: NT$1.60b (up 4.0% from 3Q 2020). Net income: NT$278.5m (up 10.0% from 3Q 2020). Profit margin: 17% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 16
Upcoming dividend of NT$10.95 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 15 September 2021. Trailing yield: 4.7%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (4.8%). Reported Earnings • Aug 02
Second quarter 2021 earnings released: EPS NT$3.39 (vs NT$3.03 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.40b (up 4.1% from 2Q 2020). Net income: NT$234.3m (up 15% from 2Q 2020). Profit margin: 17% (up from 15% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 05
First quarter 2021 earnings released: EPS NT$3.06 (vs NT$3.05 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: NT$1.42b (up 8.9% from 1Q 2020). Net income: NT$211.5m (up 3.4% from 1Q 2020). Profit margin: 15% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS NT$12.53 (vs NT$12.09 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$5.64b (up 5.9% from FY 2019). Net income: NT$842.3m (up 3.8% from FY 2019). Profit margin: 15% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 8% per year. Annuncio • Mar 12
ECOVE Environment Corp., Annual General Meeting, May 28, 2021 ECOVE Environment Corp., Annual General Meeting, May 28, 2021. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS NT$12.53 (vs NT$12.09 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$5.64b (up 5.9% from FY 2019). Net income: NT$842.3m (up 3.8% from FY 2019). Profit margin: 15% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 8% per year. Is New 90 Day High Low • Mar 10
New 90-day high: NT$222 The company is up 1.0% from its price of NT$220 on 10 December 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$171 per share. Analyst Estimate Surprise Post Earnings • Mar 10
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is forecast to grow 4.1%, compared to a 23% growth forecast for the Commercial Services industry in Taiwan. Is New 90 Day High Low • Feb 01
New 90-day low: NT$213 The company is down 1.0% from its price of NT$214 on 04 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Commercial Services industry, which is also down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$284 per share. Is New 90 Day High Low • Nov 27
New 90-day high: NT$217 The company is up 1.0% from its price of NT$215 on 28 August 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Commercial Services industry, which is flat over the same period. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of NT$825.1m, up 2.0% from the prior year. Total revenue was NT$5.50b over the last 12 months, up 5.6% from the prior year. Analyst Estimate Surprise Post Earnings • Nov 01
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 1.5% at NT$1.54b. Revenue is forecast to grow 6.1% over the next year, compared to a 21% growth forecast for the Commercial Services industry in Taiwan. Is New 90 Day High Low • Oct 13
New 90-day low: NT$211 The company is down 6.0% from its price of NT$225 on 15 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Commercial Services industry, which is also down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$157 per share. Is New 90 Day High Low • Sep 26
New 90-day low: NT$211 The company is down 2.0% from its price of NT$216 on 24 June 2020. The Taiwanese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Commercial Services industry, which is down 4.0% over the same period.