Buy Or Sell Opportunity • Apr 13
Now 33% overvalued after recent price rise Over the last 90 days, the stock has risen 1.8% to NT$23.20. The fair value is estimated to be NT$17.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 07
Full year 2025 earnings released: NT$0.46 loss per share (vs NT$1.81 profit in FY 2024) Full year 2025 results: NT$0.46 loss per share (down from NT$1.81 profit in FY 2024). Revenue: NT$368.5m (down 18% from FY 2024). Net loss: NT$11.2m (down 125% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 8% per year. New Risk • Mar 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by earnings (135% payout ratio). Profit margins are more than 30% lower than last year (4.9% net profit margin). Market cap is less than US$100m (NT$602.7m market cap, or US$18.9m). Buy Or Sell Opportunity • Mar 23
Now 39% overvalued after recent price rise Over the last 90 days, the stock has risen 6.3% to NT$24.60. The fair value is estimated to be NT$17.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has grown by 24%. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to NT$19.00, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 26x in the Electronic industry in Taiwan. Total loss to shareholders of 25% over the past three years. Annuncio • Mar 13
Pixon Technologies Corporation, Annual General Meeting, Jun 11, 2026 Pixon Technologies Corporation, Annual General Meeting, Jun 11, 2026. Location: 1 floor no,219-2, sec.3 chung hsing rd., sindian district, new taipei city Taiwan New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by earnings (135% payout ratio). Profit margins are more than 30% lower than last year (4.9% net profit margin). Market cap is less than US$100m (NT$566.0m market cap, or US$18.0m). Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to NT$31.70, the stock trades at a trailing P/E ratio of 39x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 55% over the past three years. New Risk • Aug 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 17% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (4.9% net profit margin). Market cap is less than US$100m (NT$967.8m market cap, or US$31.6m). Reported Earnings • Aug 16
First half 2025 earnings released: EPS: NT$0.15 (vs NT$1.15 in 1H 2024) First half 2025 results: EPS: NT$0.15 (down from NT$1.15 in 1H 2024). Revenue: NT$187.1m (down 19% from 1H 2024). Net income: NT$3.66m (down 87% from 1H 2024). Profit margin: 2.0% (down from 12% in 1H 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Aug 13
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: 4.9% Last year net profit margin: 9.7% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.9% net profit margin). Market cap is less than US$100m (NT$553.7m market cap, or US$18.5m). Declared Dividend • Jun 13
Dividend increased to NT$1.10 Dividend of NT$1.10 is 120% higher than last year. Ex-date: 30th June 2025 Payment date: 31st July 2025 Dividend yield will be 4.8%, which is higher than the industry average of 4.0%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Apr 10
Full year 2024 earnings released: EPS: NT$1.81 (vs NT$0.86 in FY 2023) Full year 2024 results: EPS: NT$1.81 (up from NT$0.86 in FY 2023). Revenue: NT$447.7m (up 21% from FY 2023). Net income: NT$44.3m (up 111% from FY 2023). Profit margin: 9.9% (up from 5.6% in FY 2023). The increase in margin was driven by higher revenue. 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 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to NT$23.50, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 13% over the past three years. New Risk • Apr 07
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.7% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). 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$727.7m market cap, or US$22.0m). Annuncio • Mar 14
Pixon Technologies Corporation, Annual General Meeting, Jun 11, 2025 Pixon Technologies Corporation, Annual General Meeting, Jun 11, 2025. Location: 1 floor no,219-2, sec.3 chung hsing rd., sindian district, new taipei city Taiwan New Risk • Feb 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.7% average weekly change). Earnings have declined by 5.7% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (NT$768.1m market cap, or US$23.4m). New Risk • Dec 31
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 7.6% 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 Risk Earnings have declined by 5.7% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (NT$847.7m market cap, or US$25.9m). Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to NT$35.05, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 23x in the Electronic industry in Taiwan. Total returns to shareholders of 40% over the past three years. Upcoming Dividend • Jun 21
Upcoming dividend of NT$0.50 per share Eligible shareholders must have bought the stock before 28 June 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Taiwanese dividend payers (4.2%). Lower than average of industry peers (2.6%). New Risk • Apr 12
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 Earnings have declined by 28% per year over the past 5 years. 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$681.1m market cap, or US$21.1m). Reported Earnings • Apr 03
Full year 2023 earnings released: EPS: NT$0.86 (vs NT$0.54 in FY 2022) Full year 2023 results: EPS: NT$0.86 (up from NT$0.54 in FY 2022). Revenue: NT$371.5m (up 12% from FY 2022). Net income: NT$21.0m (up 64% from FY 2022). Profit margin: 5.6% (up from 3.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Annuncio • Mar 17
Pixon Technologies Corporation, Annual General Meeting, Jun 12, 2024 Pixon Technologies Corporation, Annual General Meeting, Jun 12, 2024. New Risk • Feb 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 37% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). 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 (4.3% net profit margin). Market cap is less than US$100m (NT$706.8m market cap, or US$22.4m). New Risk • Oct 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 5.9% 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 Earnings have declined by 37% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Profit margins are more than 30% lower than last year (4.3% net profit margin). Market cap is less than US$100m (NT$656.6m market cap, or US$20.4m). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$30.00, the stock trades at a trailing P/E ratio of 47.5x. Average trailing P/E is 19x in the Electronic industry in Taiwan. Total returns to shareholders of 27% over the past three years. Reported Earnings • Aug 09
First half 2023 earnings released: EPS: NT$0.42 (vs NT$0.32 in 1H 2022) First half 2023 results: EPS: NT$0.42 (up from NT$0.32 in 1H 2022). Revenue: NT$201.4m (up 20% from 1H 2022). Net income: NT$10.2m (up 36% from 1H 2022). Profit margin: 5.1% (up from 4.4% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Aug 08
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: 4.3% Last year net profit margin: 6.1% 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: Major Risks Earnings have declined by 37% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (4.3% net profit margin). Market cap is less than US$100m (NT$833.0m market cap, or US$26.1m). Upcoming Dividend • Jul 24
Upcoming dividend of NT$0.35 per share at 1.1% yield Eligible shareholders must have bought the stock before 31 July 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 65% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%). Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to NT$35.50, the stock trades at a trailing P/E ratio of 68.2x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 35% over the past three years. Reported Earnings • Apr 08
Full year 2022 earnings released: EPS: NT$0.54 (vs NT$0.63 in FY 2021) Full year 2022 results: EPS: NT$0.54. Revenue: NT$330.8m (down 23% from FY 2021). Net income: NT$12.8m (up 5.6% from FY 2021). Profit margin: 3.9% (up from 2.8% in FY 2021). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 48% After last week's 48% share price gain to NT$28.65, the stock trades at a trailing P/E ratio of 29.5x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 18% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent 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: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 19% share price gain to NT$23.15, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total loss to shareholders of 13% over the past three years. Reported Earnings • Aug 08
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up NT$4.24m from 1H 2021). Profit margin: (up from net loss in 1H 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$17.20, the stock trades at a trailing P/E ratio of 34.9x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total loss to shareholders of 30% over the past three years. Upcoming Dividend • Jun 23
Upcoming dividend of NT$0.35 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 55% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (6.4%). Lower than average of industry peers (4.6%). Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 06
Full year 2021 earnings released: EPS: NT$0.63 (vs NT$0.056 in FY 2020) Full year 2021 results: EPS: NT$0.63 (up from NT$0.056 in FY 2020). Revenue: NT$430.6m (up 22% from FY 2020). Net income: NT$12.1m (up NT$11.0m from FY 2020). Profit margin: 2.8% (up from 0.3% in FY 2020). The increase in margin 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 71 percentage points per year, which is a significant difference in performance. Buying Opportunity • Mar 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be NT$27.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.6% per annum over the last 3 years. The company became loss making over the last year. Annuncio • Mar 23
Pixon Technologies Corporation, Annual General Meeting, Jun 08, 2022 Pixon Technologies Corporation, Annual General Meeting, Jun 08, 2022. Reported Earnings • Aug 09
First half 2021 earnings released: NT$0.22 loss per share (vs NT$0.45 profit in 1H 2020) The company reported a soft first half result with weaker earnings and weaker control over costs, although revenues improved. First half 2021 results: Revenue: NT$211.2m (up 15% from 1H 2020). Net loss: NT$4.24m (down 149% from profit in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Jul 28
Upcoming dividend of NT$2.00 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 31 August 2021. Trailing yield: 6.9%. Within top quartile of Taiwanese dividend payers (4.9%). Higher than average of industry peers (3.0%). Reported Earnings • Mar 23
Full year 2020 earnings released: EPS NT$0.06 (vs NT$1.81 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$353.3m (down 14% from FY 2019). Net income: NT$1.06m (down 97% from FY 2019). Profit margin: 0.3% (down from 8.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Annuncio • Mar 20
Pixon Technologies Corporation, Annual General Meeting, Jun 10, 2021 Pixon Technologies Corporation, Annual General Meeting, Jun 10, 2021. Is New 90 Day High Low • Feb 24
New 90-day high: NT$27.75 The company is up 10.0% from its price of NT$25.15 on 26 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 27% over the same period. Is New 90 Day High Low • Jan 29
New 90-day low: NT$25.10 The company is down 7.0% from its price of NT$27.05 on 28 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 30% over the same period. Is New 90 Day High Low • Nov 11
New 90-day low: NT$25.55 The company is down 7.0% from its price of NT$27.50 on 12 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 3.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: NT$25.90 The company is down 23% from its price of NT$33.70 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 3.0% over the same period.