Buy Or Sell Opportunity • Jun 05
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at NT$41.15. The fair value is estimated to be NT$51.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 22%. Reported Earnings • May 19
First quarter 2026 earnings released: EPS: NT$0.54 (vs NT$0.43 in 1Q 2025) First quarter 2026 results: EPS: NT$0.54 (up from NT$0.43 in 1Q 2025). Revenue: NT$3.84b (up 11% from 1Q 2025). Net income: NT$36.6m (up 26% from 1Q 2025). Profit margin: 1.0% (up from 0.8% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: NT$2.14 (vs NT$2.02 in FY 2024) Full year 2025 results: EPS: NT$2.14 (up from NT$2.02 in FY 2024). Revenue: NT$14.8b (up 3.5% from FY 2024). Net income: NT$144.3m (up 5.8% from FY 2024). Profit margin: 1.0% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Annuncio • Feb 12
Simple Mart Retail Co., Ltd., Annual General Meeting, May 29, 2026 Simple Mart Retail Co., Ltd., Annual General Meeting, May 29, 2026. Location: 8 floor no,6, sec.3 min ch`uan e. rd., jhongshan district, taipei city Taiwan Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$44.70, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 21x in the Consumer Retailing industry in Taiwan. Total returns to shareholders of 14% over the past three years. Reported Earnings • Nov 09
Third quarter 2025 earnings released: EPS: NT$0.58 (vs NT$0.64 in 3Q 2024) Third quarter 2025 results: EPS: NT$0.58 (down from NT$0.64 in 3Q 2024). Revenue: NT$3.86b (up 2.8% from 3Q 2024). Net income: NT$39.2m (down 8.6% from 3Q 2024). Profit margin: 1.0% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 06
Second quarter 2025 earnings released: EPS: NT$0.43 (vs NT$0.40 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.43 (up from NT$0.40 in 2Q 2024). Revenue: NT$3.64b (up 4.5% from 2Q 2024). Net income: NT$29.1m (up 7.5% from 2Q 2024). Profit margin: 0.8% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 26
Dividend of NT$1.50 announced Shareholders will receive a dividend of NT$1.50. Ex-date: 9th July 2025 Payment date: 31st July 2025 Dividend yield will be 3.8%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. Annuncio • May 29
Simple Mart Retail Co., Ltd. Approves Cash Dividend Simple Mart Retail Co., Ltd. announced at annual general meeting held on May 28, 2025, the resolutions for the distribution of earnings for 2025 was approved, with a cash dividend of TWD 1.50 per share. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$0.43 (vs NT$0.43 in 1Q 2024) First quarter 2025 results: EPS: NT$0.43 (up from NT$0.43 in 1Q 2024). Revenue: NT$3.47b (up 3.2% from 1Q 2024). Net income: NT$29.0m (flat on 1Q 2024). Profit margin: 0.8% (down from 0.9% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Annuncio • Apr 25
Simple Mart Retail Co., Ltd. to Report Q1, 2025 Results on May 02, 2025 Simple Mart Retail Co., Ltd. announced that they will report Q1, 2025 results on May 02, 2025 Reported Earnings • Mar 05
Full year 2024 earnings released: EPS: NT$2.02 (vs NT$1.50 in FY 2023) Full year 2024 results: EPS: NT$2.02 (up from NT$1.50 in FY 2023). Revenue: NT$14.3b (up 1.8% from FY 2023). Net income: NT$136.4m (up 35% from FY 2023). Profit margin: 1.0% (up from 0.7% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 12% per year. Annuncio • Feb 24
Simple Mart Retail Co., Ltd., Annual General Meeting, May 28, 2025 Simple Mart Retail Co., Ltd., Annual General Meeting, May 28, 2025. Location: 8 floor no,6, sec.3 min ch`uan e. rd., jhongshan district, taipei city Taiwan Annuncio • Feb 22
Simple Mart Retail Co., Ltd. Announces Appointment of Yi-Hsiang Chiu as Chief Internal Auditor Simple Mart Retail Co., Ltd. announced appointment of Yi-Hsiang Chiu as Chief internal auditor. Resume of the new position holder: Chief internal auditor of Nobeleye Group. Effective date is March 3, 2025. Annuncio • Feb 14
Simple Mart Retail Co., Ltd. to Report Fiscal Year 2024 Results on Feb 21, 2025 Simple Mart Retail Co., Ltd. announced that they will report fiscal year 2024 results on Feb 21, 2025 Annuncio • Jan 18
Simple Mart Retail Co., Ltd. Announces Resignation of Kuan-Yu Lu as Chief Internal Auditor, Effective January 31, 2025 Simple Mart Retail Co., Ltd. announced resignation of Kuan-Yu Lu as Chief Internal Auditor. Name, title, and resume of the previous position holder: Kuan-Yu Lu/Audit manager. Reason for the change: Personal Career Planning. Effective date: January 31, 2025. Reported Earnings • Nov 12
Third quarter 2024 earnings released: EPS: NT$0.64 (vs NT$0.58 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.64 (up from NT$0.58 in 3Q 2023). Revenue: NT$3.75b (flat on 3Q 2023). Net income: NT$42.9m (up 8.6% from 3Q 2023). Profit margin: 1.1% (up from 1.0% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 26% per year. Annuncio • Oct 25
Simple Mart Retail Co., Ltd. to Report Q3, 2024 Results on Nov 01, 2024 Simple Mart Retail Co., Ltd. announced that they will report Q3, 2024 results on Nov 01, 2024 Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: NT$0.40 (vs NT$0.26 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.40 (up from NT$0.26 in 2Q 2023). Revenue: NT$3.48b (flat on 2Q 2023). Net income: NT$27.1m (up 54% from 2Q 2023). Profit margin: 0.8% (up from 0.5% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Annuncio • Jul 24
Simple Mart Retail Co., Ltd. to Report Q2, 2024 Results on Aug 02, 2024 Simple Mart Retail Co., Ltd. announced that they will report Q2, 2024 results on Aug 02, 2024 Declared Dividend • Jun 29
Dividend of NT$1.20 announced Shareholders will receive a dividend of NT$1.20. Ex-date: 17th July 2024 Payment date: 16th August 2024 Dividend yield will be 2.7%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 44% to shift the payout ratio to a potentially unsustainable range, which is more than the 8.2% EPS decline seen over the last 5 years. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: NT$0.43 (vs NT$0.15 in 1Q 2023) First quarter 2024 results: EPS: NT$0.43 (up from NT$0.15 in 1Q 2023). Revenue: NT$3.37b (up 1.9% from 1Q 2023). Net income: NT$29.0m (up 184% from 1Q 2023). Profit margin: 0.9% (up from 0.3% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Annuncio • Apr 28
Simple Mart Retail Co., Ltd. to Report Q1, 2024 Results on May 03, 2024 Simple Mart Retail Co., Ltd. announced that they will report Q1, 2024 results on May 03, 2024 Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: NT$1.50 (vs NT$0.82 in FY 2022) Full year 2023 results: EPS: NT$1.50 (up from NT$0.82 in FY 2022). Revenue: NT$14.0b (down 1.0% from FY 2022). Net income: NT$101.1m (up 83% from FY 2022). Profit margin: 0.7% (up from 0.4% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Annuncio • Feb 24
Simple Mart Retail Co., Ltd., Annual General Meeting, May 30, 2024 Simple Mart Retail Co., Ltd., Annual General Meeting, May 30, 2024. Location: Meeting Room located at 8F, No.6, Sec. 3, Minquan E. Rd., Zhongshan Dist., Taipei City Taipei Taiwan Agenda: To consider The Business Report of 2023; To consider The employees bonus and directors compensation of the Company of 2023; To consider Director's Remuneration Report; To consider Audit Report for all annual final accounting; To consider books and statements of 2023 by Audit Committee. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to NT$47.45, the stock trades at a trailing P/E ratio of 33x. Average trailing P/E is 27x in the Consumer Retailing industry in Taiwan. Total loss to shareholders of 42% over the past three years. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: NT$0.58 (vs NT$0.23 in 3Q 2022) Third quarter 2023 results: EPS: NT$0.58 (up from NT$0.23 in 3Q 2022). Revenue: NT$3.76b (flat on 3Q 2022). Net income: NT$39.5m (up 159% from 3Q 2022). Profit margin: 1.0% (up from 0.4% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: NT$0.26 (vs NT$0.11 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.26 (up from NT$0.11 in 2Q 2022). Revenue: NT$3.45b (down 4.7% from 2Q 2022). Net income: NT$17.6m (up 138% from 2Q 2022). Profit margin: 0.5% (up from 0.2% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 10
Upcoming dividend of NT$0.73 per share at 1.7% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 16 August 2023. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (3.1%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.23 (vs NT$1.24 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.23 (down from NT$1.24 in 3Q 2021). Revenue: NT$3.75b (flat on 3Q 2021). Net income: NT$15.2m (down 80% from 3Q 2021). Profit margin: 0.4% (down from 2.0% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.23 (vs NT$1.24 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.23 (down from NT$1.24 in 3Q 2021). Revenue: NT$3.75b (flat on 3Q 2021). Net income: NT$15.2m (down 80% from 3Q 2021). Profit margin: 0.4% (down from 2.0% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.11 (vs NT$0.80 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.11 (down from NT$0.80 in 2Q 2021). Revenue: NT$3.62b (down 6.5% from 2Q 2021). Net income: NT$7.39m (down 85% from 2Q 2021). Profit margin: 0.2% (down from 1.2% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 08
Upcoming dividend of NT$2.59 per share Eligible shareholders must have bought the stock before 15 July 2022. Payment date: 17 August 2022. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 5.1%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (2.6%). Reported Earnings • May 19
First quarter 2022 earnings released: EPS: NT$0.04 (vs NT$0.38 in 1Q 2021) First quarter 2022 results: EPS: NT$0.04 (down from NT$0.38 in 1Q 2021). Revenue: NT$3.11b (down 2.6% from 1Q 2021). Net income: NT$2.99m (down 87% from 1Q 2021). Profit margin: 0.1% (down from 0.7% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$50.20, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 35x in the Consumer Retailing industry in Taiwan. Total loss to shareholders of 53% over the past three years. Reported Earnings • Mar 06
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$3.21 (up from NT$3.04 in FY 2020). Revenue: NT$14.0b (up 5.8% from FY 2020). Net income: NT$194.5m (up 6.9% from FY 2020). Profit margin: 1.4% (in line with FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 19% share price gain to NT$102, the stock trades at a trailing P/E ratio of 32.2x. Average trailing P/E is 30x in the Multiline Retail industry in Taiwan. Total returns to shareholders of 16% over the past year. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$1.24 (vs NT$0.94 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$3.71b (up 10% from 3Q 2020). Net income: NT$74.1m (up 32% from 3Q 2020). Profit margin: 2.0% (up from 1.7% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 03
Second quarter 2021 earnings released: EPS NT$0.80 (vs NT$0.65 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: NT$3.87b (up 16% from 2Q 2020). Net income: NT$47.7m (up 23% from 2Q 2020). Profit margin: 1.2% (in line with 2Q 2020). Upcoming Dividend • Jul 19
Upcoming dividend of NT$2.73 per share Eligible shareholders must have bought the stock before 26 July 2021. Payment date: 12 August 2021. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (3.7%). Reported Earnings • May 11
First quarter 2021 earnings released: EPS NT$0.37 (vs NT$0.58 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$3.19b (down 1.6% from 1Q 2020). Net income: NT$22.4m (down 36% from 1Q 2020). Profit margin: 0.7% (down from 1.1% in 1Q 2020). The decrease in margin was driven by lower revenue. Annuncio • Mar 11
Simple Mart Retail Co., Ltd., Annual General Meeting, May 28, 2021 Simple Mart Retail Co., Ltd., Annual General Meeting, May 28, 2021. Reported Earnings • Mar 05
Full year 2020 earnings released: EPS NT$3.04 (vs NT$0.70 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$13.2b (up 9.2% from FY 2019). Net income: NT$182.0m (up 332% from FY 2019). Profit margin: 1.4% (up from 0.3% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Jan 13
New 90-day low: NT$85.60 The company is down 8.0% from its price of NT$93.20 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 Multiline Retail industry, which is up 1.0% over the same period. 
