Reported Earnings • Aug 14
Second quarter 2026 earnings released: EPS: NT$5.58 (vs NT$1.61 in 2Q 2025) Second quarter 2026 results: EPS: NT$5.58 (up from NT$1.61 in 2Q 2025). Revenue: NT$280.1m (up 14% from 2Q 2025). Net income: NT$446.4m (up 246% from 2Q 2025). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 28
Upcoming dividend of NT$3.50 per share Eligible shareholders must have bought the stock before 04 June 2026. Payment date: 24 June 2026. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 6.5%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (1.2%). Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: NT$6.21 (vs NT$7.20 in FY 2024) Full year 2025 results: EPS: NT$6.21 (down from NT$7.20 in FY 2024). Revenue: NT$1.02b (down 15% from FY 2024). Net income: NT$496.3m (down 21% from FY 2024). Profit margin: 49% (down from 52% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 12
GeoVision Inc., Annual General Meeting, May 29, 2026 GeoVision Inc., Annual General Meeting, May 29, 2026, at 10:00 Taipei Standard Time. Location: r floor no,246, sec.1 nei hu rd., neihu district, taipei city Taiwan New Risk • Nov 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 173% 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 (173% accrual ratio). Minor Risk Dividend is not well covered by cash flows (134% cash payout ratio). Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: NT$3.27 (vs NT$0.15 in 3Q 2024) Third quarter 2025 results: EPS: NT$3.27 (up from NT$0.15 in 3Q 2024). Revenue: NT$236.4m (down 11% from 3Q 2024). Net income: NT$261.2m (up NT$248.0m from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 26
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 03 October 2025. Payment date: 30 October 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.6%. Within top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (2.3%). Reported Earnings • Aug 11
Second quarter 2025 earnings released: EPS: NT$1.61 (vs NT$2.57 in 2Q 2024) Second quarter 2025 results: EPS: NT$1.61 (down from NT$2.57 in 2Q 2024). Revenue: NT$246.4m (down 14% from 2Q 2024). Net income: NT$128.9m (down 37% from 2Q 2024). Profit margin: 52% (down from 71% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 01
Now 21% overvalued Over the last 90 days, the stock has fallen 17% to NT$49.40. The fair value is estimated to be NT$40.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years. Earnings per share has grown by 46%. Buy Or Sell Opportunity • Jun 30
Now 21% overvalued Over the last 90 days, the stock has fallen 5.6% to NT$50.50. The fair value is estimated to be NT$41.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last 3 years. Earnings per share has grown by 46%. Reported Earnings • May 14
First quarter 2025 earnings released: NT$1.72 loss per share (vs NT$2.91 profit in 1Q 2024) First quarter 2025 results: NT$1.72 loss per share (down from NT$2.91 profit in 1Q 2024). Revenue: NT$260.3m (down 20% from 1Q 2024). Net loss: NT$137.6m (down 159% from profit in 1Q 2024). 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 17% per year, which means it is significantly lagging earnings growth. Annuncio • May 01
GeoVision Inc. to Report Q1, 2025 Results on May 09, 2025 GeoVision Inc. announced that they will report Q1, 2025 results on May 09, 2025 New Risk • Apr 30
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 8.8% 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 High level of non-cash earnings (57% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.8% average weekly change). Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to NT$66.20, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 18x in the Electronic industry in Taiwan. Total returns to shareholders of 114% over the past three years. Buy Or Sell Opportunity • Apr 10
Now 29% overvalued Over the last 90 days, the stock has fallen 20% to NT$43.50. The fair value is estimated to be NT$33.76, however this is not to be taken as a sell 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 55%. New Risk • Apr 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: NT$3.16b (US$96.0m) 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 High level of non-cash earnings (57% accrual ratio). 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$3.16b market cap, or US$96.0m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$43.90, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 59% over the past three years. Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: NT$7.20 (vs NT$3.59 in FY 2023) Full year 2024 results: EPS: NT$7.20 (up from NT$3.59 in FY 2023). Revenue: NT$1.20b (down 5.2% from FY 2023). Net income: NT$625.2m (up 118% from FY 2023). Profit margin: 52% (up from 23% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Annuncio • Feb 26
GeoVision Inc., Annual General Meeting, May 29, 2025 GeoVision Inc., Annual General Meeting, May 29, 2025. Location: r floor no,246, sec.1 nei hu rd., neihu district, taipei city Taiwan Annuncio • Feb 18
GeoVision Inc. to Report Q4, 2024 Results on Feb 25, 2025 GeoVision Inc. announced that they will report Q4, 2024 results on Feb 25, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.15 (vs NT$0.38 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.15 (down from NT$0.38 in 3Q 2023). Revenue: NT$265.0m (down 16% from 3Q 2023). Net income: NT$13.3m (down 56% from 3Q 2023). Profit margin: 5.0% (down from 9.6% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 24
Upcoming dividend of NT$4.00 per share Eligible shareholders must have bought the stock before 31 October 2024. Payment date: 22 November 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Taiwanese dividend payers (4.3%). Higher than average of industry peers (2.6%). Annuncio • Oct 04
GeoVision Inc. Announces Cash Dividend, Payable on November 22, 2024 GeoVision Inc. announced cash dividend for common shares of TWD 260,484,099. Ex-rights (ex-dividend) trading date is October 31, 2024. Ex-rights (ex-dividend) record date is November 8, 2024. Payment date of cash dividend distribution is November 22, 2024. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: NT$2.28 (vs NT$1.05 in 2Q 2023) Second quarter 2024 results: EPS: NT$2.28 (up from NT$1.05 in 2Q 2023). Revenue: NT$287.8m (down 12% from 2Q 2023). Net income: NT$205.0m (up 117% from 2Q 2023). Profit margin: 71% (up from 29% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 07
Now 23% overvalued Over the last 90 days, the stock has fallen 6.7% to NT$59.60. The fair value is estimated to be NT$48.38, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 26%. Annuncio • Jul 31
GeoVision Inc. to Report Q2, 2024 Results on Aug 07, 2024 GeoVision Inc. announced that they will report Q2, 2024 results on Aug 07, 2024 New Risk • Jun 12
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 6.7% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Large one-off items impacting financial results. Reported Earnings • May 11
First quarter 2024 earnings released: EPS: NT$2.59 (vs NT$1.00 in 1Q 2023) First quarter 2024 results: EPS: NT$2.59 (up from NT$1.00 in 1Q 2023). Revenue: NT$323.6m (up 14% from 1Q 2023). Net income: NT$232.5m (up 159% from 1Q 2023). Profit margin: 72% (up from 32% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$63.90, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 24x in the Electronic industry in Taiwan. Total returns to shareholders of 160% over the past three years. Annuncio • May 03
GeoVision Inc. to Report Q1, 2024 Results on May 08, 2024 GeoVision Inc. announced that they will report Q1, 2024 results on May 08, 2024 Annuncio • Mar 14
GeoVision Inc., Annual General Meeting, May 30, 2024 GeoVision Inc., Annual General Meeting, May 30, 2024. New Risk • Mar 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 76% 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: Minor Risks Dividend is not well covered by earnings (91% payout ratio). Large one-off items impacting financial results. Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: NT$3.20 (vs NT$1.19 in FY 2022) Full year 2023 results: EPS: NT$3.20 (up from NT$1.19 in FY 2022). Revenue: NT$1.26b (down 4.1% from FY 2022). Net income: NT$287.2m (up 169% from FY 2022). Profit margin: 23% (up from 8.1% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 27
Upcoming dividend of NT$1.40 per share at 3.0% yield Eligible shareholders must have bought the stock before 04 October 2023. Payment date: 31 October 2023. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%). New Risk • Aug 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: NT$1.05 (vs NT$0.24 loss in 2Q 2022) Second quarter 2023 results: EPS: NT$1.05 (up from NT$0.24 loss in 2Q 2022). Revenue: NT$327.4m (down 4.2% from 2Q 2022). Net income: NT$94.3m (up NT$115.7m from 2Q 2022). Profit margin: 29% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Jul 26
Now 21% undervalued Over the last 90 days, the stock is up 39%. The fair value is estimated to be NT$64.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.5% over the last 3 years. Earnings per share has grown by 23%. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to NT$58.50, the stock trades at a trailing P/E ratio of 36.4x. Average trailing P/E is 16x in the Electronic industry in Taiwan. Total returns to shareholders of 174% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to NT$47.70, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 17x in the Electronic industry in Taiwan. Total returns to shareholders of 122% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to NT$45.95, the stock trades at a trailing P/E ratio of 30.3x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 90% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 16% share price gain to NT$48.80, the stock trades at a trailing P/E ratio of 32.2x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 69% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.48 (vs NT$0.27 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.48 (up from NT$0.27 in 3Q 2021). Revenue: NT$345.1m (up 4.7% from 3Q 2021). Net income: NT$43.1m (up 81% from 3Q 2021). Profit margin: 13% (up from 7.2% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. 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. 4 experienced directors. 4 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Chia-Chun Wen was the last independent director to join the board, commencing their role in 2011. 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 • Nov 07
Investor sentiment improved over the past week After last week's 21% share price gain to NT$40.15, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to NT$28.30, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 11x in the Electronic industry in Taiwan. Total loss to shareholders of 10% over the past three years. Upcoming Dividend • Sep 27
Upcoming dividend of NT$1.20 per share Eligible shareholders must have bought the stock before 04 October 2022. Payment date: 31 October 2022. Payout ratio is on the higher end at 92% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (7.0%). Lower than average of industry peers (4.8%). Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 19% share price gain to NT$32.50, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 12x in the Electronic industry in Taiwan. Total returns to shareholders of 9.2% over the past three years. Reported Earnings • Aug 08
Second quarter 2022 earnings released: NT$0.24 loss per share (vs NT$0.50 profit in 2Q 2021) Second quarter 2022 results: NT$0.24 loss per share (down from NT$0.50 profit in 2Q 2021). Revenue: NT$341.6m (up 6.5% from 2Q 2021). Net loss: NT$21.4m (down 148% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 22% share price gain to NT$36.15, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 13x in the Electronic industry in Taiwan. Total returns to shareholders of 3.5% over the past three years. Reported Earnings • May 09
First quarter 2022 earnings released: EPS: NT$0.58 (vs NT$0.51 in 1Q 2021) First quarter 2022 results: EPS: NT$0.58 (up from NT$0.51 in 1Q 2021). Revenue: NT$275.5m (up 4.3% from 1Q 2021). Net income: NT$52.2m (up 15% from 1Q 2021). Profit margin: 19% (up from 17% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. 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. 4 experienced directors. 4 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Chia-Chun Wen was the last independent director to join the board, commencing their role in 2011. 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 07
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NT$1.97 (up from NT$1.78 in FY 2020). Revenue: NT$1.25b (up 7.7% from FY 2020). Net income: NT$176.5m (up 11% from FY 2020). Profit margin: 14% (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 38% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Annuncio • Mar 06
GeoVision Inc., Annual General Meeting, May 26, 2022 GeoVision Inc., Annual General Meeting, May 26, 2022. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS NT$0.27 (vs NT$0.48 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$329.7m (up 12% from 3Q 2020). Net income: NT$23.8m (down 45% from 3Q 2020). Profit margin: 7.2% (down from 15% in 3Q 2020). 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 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS NT$0.50 (vs NT$0.12 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$320.8m (up 35% from 2Q 2020). Net income: NT$45.0m (up NT$55.3m from 2Q 2020). Profit margin: 14% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 20
Upcoming dividend of NT$1.00 per share Eligible shareholders must have bought the stock before 27 July 2021. Payment date: 24 August 2021. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorated over the past week After last week's 21% share price decline to NT$23.95, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 15x in the Electronic industry in Taiwan. Total loss to shareholders of 12% over the past three years. Reported Earnings • May 01
First quarter 2021 earnings released: EPS NT$0.51 (vs NT$0.54 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and revenues, although profit margins were improved. First quarter 2021 results: Revenue: NT$264.1m (down 20% from 1Q 2020). Net income: NT$45.5m (down 5.0% from 1Q 2020). Profit margin: 17% (up from 15% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$1.78 (vs NT$0.22 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$1.16b (down 16% from FY 2019). Net income: NT$159.0m (up NT$139.0m from FY 2019). Profit margin: 14% (up from 1.4% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 18% share price gain to NT$32.25, the stock is trading at a trailing P/E ratio of 70.7x, up from the previous P/E ratio of 60x. This compares to an average P/E of 17x in the Electronic industry in Taiwan. Total return to shareholders over the past three years is a loss of 17%. Is New 90 Day High Low • Dec 23
New 90-day high: NT$29.35 The company is up 23% from its price of NT$23.90 on 24 September 2020. The Taiwanese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: NT$28.65 The company is up 23% from its price of NT$23.25 on 02 September 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 7.0% over the same period. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS NT$0.48 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$295.0m (down 18% from 3Q 2019). Net income: NT$42.9m (up 326% from 3Q 2019). Profit margin: 15% (up from 2.8% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.