Reported Earnings • Aug 18
Second quarter 2026 earnings released: EPS: NT$1.10 (vs NT$0.80 in 2Q 2025) Second quarter 2026 results: EPS: NT$1.10 (up from NT$0.80 in 2Q 2025). Revenue: NT$765.4m (down 2.6% from 2Q 2025). Net income: NT$106.8m (up 38% from 2Q 2025). Profit margin: 14% (up from 9.9% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 24
Dividend increased to NT$4.00 Dividend of NT$4.00 is 29% higher than last year. Ex-date: 8th July 2026 Payment date: 31st July 2026 Dividend yield will be 7.7%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is covered by both earnings (87% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 16
First quarter 2026 earnings released: EPS: NT$1.00 (vs NT$0.99 in 1Q 2025) First quarter 2026 results: EPS: NT$1.00 (up from NT$0.99 in 1Q 2025). Revenue: NT$823.2m (flat on 1Q 2025). Net income: NT$105.7m (up 10.0% from 1Q 2025). Profit margin: 13% (up from 12% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 28
Full year 2025 earnings released: EPS: NT$4.49 (vs NT$3.39 in FY 2024) Full year 2025 results: EPS: NT$4.49 (up from NT$3.39 in FY 2024). Revenue: NT$3.19b (up 9.7% from FY 2024). Net income: NT$437.2m (up 32% from FY 2024). Profit margin: 14% (up from 11% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Annuncio • Mar 16
Welldone Company, Annual General Meeting, Jun 11, 2026 Welldone Company, Annual General Meeting, Jun 11, 2026, at 09:00 Taipei Standard Time. Location: no,181, an mei st., neihu district, taipei city Taiwan Annuncio • Jan 09
The Securities and Futures Investors Protection Center Files Commercial Lawsuit Against Welldone Company The Securities and Futures Investors Protection Center has filed a commercial lawsuit against Welldone Company and the legal representative. Parties to the legal matter: Welldone Company and the company's legal representative Alexander Chen; Name of the court or punishing agency of the legal matter: Intellectual Property and Commercial Court; Reference/Case number of relevant documents of the legal matter: Zhiyuan Juntian 114th Annual Commercial Investigation No. 37; Date of occurrence of the event: January 08, 2026; Details of occurrence (including the matter under dispute): company's legal representative, Alexander Chen, formerly served as the head of an invested company and was indicted for allegedly violatingthe Commercial Accounting Act; the case has entered the judicial process. The Securities and Futures Investors Protection Cente believes that Alexander Chen has violated the Securities and Exchange Act and has filed a lawsuit to remove him from the board of directors. Handling procedure: A lawyer has been appointed to handle the matter in accordance with the law. Impact on the Company’s finance and business and projected amount: It has not had any impact on the company's finances or operations. Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: NT$1.60 (vs NT$0.51 in 3Q 2024) Third quarter 2025 results: EPS: NT$1.60 (up from NT$0.51 in 3Q 2024). Revenue: NT$813.5m (up 10% from 3Q 2024). Net income: NT$155.3m (up 215% from 3Q 2024). Profit margin: 19% (up from 6.7% in 3Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • Aug 10
Second quarter 2025 earnings released: EPS: NT$0.80 (vs NT$0.48 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.80 (up from NT$0.48 in 2Q 2024). Revenue: NT$785.5m (up 13% from 2Q 2024). Net income: NT$77.7m (up 65% from 2Q 2024). Profit margin: 9.9% (up from 6.8% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jun 25
Dividend increased to NT$3.11 Dividend of NT$3.11 is 14% higher than last year. Ex-date: 10th July 2025 Payment date: 8th August 2025 Dividend yield will be 6.0%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is not adequately covered by earnings (90.4% earnings payout ratio) nor is it covered by cash flows (106% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 25% over the last 5 years, which if continued should maintain adequate earnings cover for the dividend. Reported Earnings • May 10
First quarter 2025 earnings released: EPS: NT$0.99 (vs NT$0.94 in 1Q 2024) First quarter 2025 results: EPS: NT$0.99 (up from NT$0.94 in 1Q 2024). Revenue: NT$817.9m (up 17% from 1Q 2024). Net income: NT$96.0m (up 5.0% from 1Q 2024). Profit margin: 12% (down from 13% 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 6% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • May 01
Welldone Company to Report Q1, 2025 Results on May 09, 2025 Welldone Company announced that they will report Q1, 2025 results on May 09, 2025 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$44.15, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 25x in the Telecom industry in Taiwan. Total returns to shareholders of 66% over the past three years. Reported Earnings • Apr 01
Full year 2024 earnings released: EPS: NT$3.39 (vs NT$2.74 in FY 2023) Full year 2024 results: EPS: NT$3.39 (up from NT$2.74 in FY 2023). Revenue: NT$2.91b (up 28% from FY 2023). Net income: NT$330.1m (up 33% from FY 2023). Profit margin: 11% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Mar 19
Welldone Company, Annual General Meeting, Jun 11, 2025 Welldone Company, Annual General Meeting, Jun 11, 2025, at 09:00 Taipei Standard Time. Location: no,181, an mei st., neihu district, taipei city Taiwan Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.51 (vs NT$1.35 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.51 (down from NT$1.35 in 3Q 2023). Revenue: NT$736.9m (up 25% from 3Q 2023). Net income: NT$49.3m (down 60% from 3Q 2023). Profit margin: 6.7% (down from 21% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Annuncio • Nov 02
Welldone Company to Report Q3, 2024 Results on Nov 08, 2024 Welldone Company announced that they will report Q3, 2024 results on Nov 08, 2024 Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: NT$0.49 (vs NT$0.73 in 2Q 2023) Second quarter 2024 results: EPS: NT$0.49 (down from NT$0.73 in 2Q 2023). Revenue: NT$693.9m (up 36% from 2Q 2023). Net income: NT$47.2m (down 26% from 2Q 2023). Profit margin: 6.8% (down from 13% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Annuncio • Aug 02
Welldone Company to Report Q2, 2024 Results on Aug 09, 2024 Welldone Company announced that they will report Q2, 2024 results on Aug 09, 2024 Upcoming Dividend • Jul 08
Upcoming dividend of NT$2.73 per share Eligible shareholders must have bought the stock before 15 July 2024. Payment date: 09 August 2024. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 4.7%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.9%). New Risk • Jun 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% 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 High level of debt (73% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (11% increase in shares outstanding). Buy Or Sell Opportunity • Jun 03
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.3% to NT$57.70. The fair value is estimated to be NT$47.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Earnings per share has grown by 21%. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.94 (vs NT$0.57 in 1Q 2023) First quarter 2024 results: EPS: NT$0.94 (up from NT$0.57 in 1Q 2023). Revenue: NT$700.4m (up 29% from 1Q 2023). Net income: NT$91.5m (up 84% from 1Q 2023). Profit margin: 13% (up from 9.1% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • May 05
Welldone Company to Report Q1, 2024 Results on May 10, 2024 Welldone Company announced that they will report Q1, 2024 results on May 10, 2024 New Risk • Apr 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% 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: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (131% cash payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (11% increase in shares outstanding). Annuncio • Apr 10
Welldone Company has filed a Follow-on Equity Offering in the amount of TWD 72 million. Welldone Company has filed a Follow-on Equity Offering in the amount of TWD 72 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 300,000
Price\Range: TWD 24
Security Name: Shares
Security Type: Common Stock
Securities Offered: 2,700,000
Price\Range: TWD 24
Transaction Features: Reserved Share Offering Reported Earnings • Apr 03
Full year 2023 earnings released: EPS: NT$2.74 (vs NT$2.73 in FY 2022) Full year 2023 results: EPS: NT$2.74 (up from NT$2.73 in FY 2022). Revenue: NT$2.26b (down 8.4% from FY 2022). Net income: NT$249.1m (up 4.7% from FY 2022). Profit margin: 11% (up from 9.6% 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 22% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Mar 16
Welldone Company, Annual General Meeting, Jun 12, 2024 Welldone Company, Annual General Meeting, Jun 12, 2024. Location: No 181, Anmei St., Neihu District Taipei City Taiwan Agenda: To consider 2023 business report; to consider audit Committee's review of the 2023 annual final accounting books and statements; to consider 2023 employees' and directors' remuneration; to consider 2023 Earnings Distribution and cash dividend; to consider private placement securities management status report; to consider amendments to the corporate charter; and to transact other business. Buy Or Sell Opportunity • Feb 19
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 8.6% to NT$58.30. The fair value is estimated to be NT$47.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Earnings per share has grown by 24%. Buy Or Sell Opportunity • Jan 22
Now 22% overvalued Over the last 90 days, the stock has fallen 3.9% to NT$54.00. The fair value is estimated to be NT$44.42, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Earnings per share has grown by 24%. New Risk • Dec 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 90% Paying a dividend despite having no free cash flows. High level of non-cash earnings (25% accrual ratio). Minor Risk Shareholders have been diluted in the past year (11% increase in shares outstanding). New Risk • Nov 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (25% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.4% average weekly change). Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to NT$57.50, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 24x in the Telecom industry in Taiwan. Total returns to shareholders of 247% over the past three years. Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: NT$0.73 (vs NT$1.17 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.73 (down from NT$1.17 in 2Q 2022). Revenue: NT$510.5m (down 32% from 2Q 2022). Net income: NT$64.1m (down 37% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Aug 04
Welldone Company announced that it expects to receive TWD 400.5 million in funding from Acer Incorporated Welldone Company announced that it will issue 10,000,000 shares at an issue price of TWD 40.05 per share for proceeds of TWD 400,500,000 on August 3, 2023. The transaction will include participation from new investor Acer Incorporated. The transaction was approved by the board of directors of the investor. Upcoming Dividend • Jul 11
Upcoming dividend of NT$2.10 per share at 4.8% yield Eligible shareholders must have bought the stock before 18 July 2023. Payment date: 10 August 2023. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.1%). Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: NT$2.73 (vs NT$1.86 in FY 2021) Full year 2022 results: EPS: NT$2.73 (up from NT$1.86 in FY 2021). Revenue: NT$2.47b (down 17% from FY 2021). Net income: NT$237.9m (up 47% from FY 2021). Profit margin: 9.6% (up from 5.4% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced 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: Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.65 (vs NT$0.40 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.65 (up from NT$0.40 in 3Q 2021). Revenue: NT$457.6m (down 40% from 3Q 2021). Net income: NT$56.8m (up 61% from 3Q 2021). Profit margin: 12% (up from 4.6% in 3Q 2021). The increase in margin was driven by lower expenses. 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 27% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: NT$1.17 (vs NT$0.20 in 2Q 2021) Second quarter 2022 results: EPS: NT$1.17 (up from NT$0.20 in 2Q 2021). Revenue: NT$754.1m (up 2.1% from 2Q 2021). Net income: NT$102.1m (up 477% from 2Q 2021). Profit margin: 14% (up from 2.4% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 07
Upcoming dividend of NT$1.60 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 10 August 2022. Payout ratio is on the higher end at 82% but the company is not cash flow positive. Trailing yield: 6.3%. Lower than top quartile of Taiwanese dividend payers (6.8%). Higher than average of industry peers (4.1%). Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$29.20, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 18x in the Telecom industry in Taiwan. Total returns to shareholders of 128% over the past three years. Buying Opportunity • Jun 16
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 1.1%. The fair value is estimated to be NT$41.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.6% over the last 3 years. Earnings per share has grown by 43%. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: NT$0.54 (vs NT$0.44 in 1Q 2021) First quarter 2022 results: EPS: NT$0.54 (up from NT$0.44 in 1Q 2021). Revenue: NT$768.6m (up 6.8% from 1Q 2021). Net income: NT$46.9m (up 22% from 1Q 2021). Profit margin: 6.1% (up from 5.3% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced 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: Insufficient board refreshment. Buying Opportunity • Apr 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be NT$36.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.5% over the last 3 years. Earnings per share has grown by 54%. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$30.60, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 26x in the Telecom industry in Taiwan. Total returns to shareholders of 162% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.40 (vs NT$0.59 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$759.4m (down 29% from 3Q 2020). Net income: NT$35.2m (down 32% from 3Q 2020). Profit margin: 4.6% (down from 4.8% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 66% per year whereas the company’s share price has increased by 69% per year. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 20% share price gain to NT$51.70, the stock trades at a trailing P/E ratio of 31.8x. Average trailing P/E is 30x in the Telecom industry in Taiwan. Total returns to shareholders of 485% over the past three years. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS NT$0.20 (vs NT$0.34 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$738.7m (down 20% from 2Q 2020). Net income: NT$17.7m (down 41% from 2Q 2020). Profit margin: 2.4% (down from 3.3% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 22% share price gain to NT$47.15, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 34x in the Telecom industry in Taiwan. Total returns to shareholders of 334% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 23% share price gain to NT$30.05, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 34x in the Telecom industry in Taiwan. Total returns to shareholders of 167% over the past three years. Upcoming Dividend • Jun 25
Upcoming dividend of NT$1.40 per share Eligible shareholders must have bought the stock before 02 July 2021. Payment date: 29 July 2021. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.7%). Reported Earnings • May 16
First quarter 2021 earnings released: EPS NT$0.44 (vs NT$0.30 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: NT$719.5m (down 7.4% from 1Q 2020). Net income: NT$38.3m (up 48% from 1Q 2020). Profit margin: 5.3% (up from 3.3% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to NT$22.15, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 32x in the Telecom industry in Taiwan. Total returns to shareholders of 107% over the past three years. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS NT$1.63 (vs NT$0.95 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$3.56b (down 7.4% from FY 2019). Net income: NT$142.0m (up 66% from FY 2019). Profit margin: 4.0% (up from 2.2% 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 99% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 04
New 90-day low: NT$16.70 The company is down 11% from its price of NT$18.70 on 06 November 2020. The Taiwanese market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is down 1.0% over the same period. Is New 90 Day High Low • Jan 18
New 90-day low: NT$17.30 The company is down 4.0% from its price of NT$18.05 on 21 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 3.0% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: NT$20.10 The company is up 5.0% from its price of NT$19.15 on 28 August 2020. The Taiwanese market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Telecom industry, which is flat over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS NT$0.59 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.07b (up 2.6% from 3Q 2019). Net income: NT$51.5m (up 74% from 3Q 2019). Profit margin: 4.8% (up from 2.8% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.