Upcoming Dividend • Jun 28
Upcoming dividend of NT$2.10 per share Eligible shareholders must have bought the stock before 02 July 2026. Payment date: 31 July 2026. Payout ratio and cash payout ratio are on the higher end at 91% and 76% respectively. Trailing yield: 4.0%. Lower than top quartile of Taiwanese dividend payers (5.0%). In line with average of industry peers (4.0%). Declared Dividend • Jun 13
Dividend reduced to NT$2.10 Dividend of NT$2.10 is 4.5% lower than last year. Ex-date: 2nd July 2026 Payment date: 31st July 2026 Dividend yield will be 4.0%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio). However, it is covered by cash flows (76% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1.1% to bring the payout ratio under control, which is less than the 2.3% EPS growth achieved over the last 5 years. Reported Earnings • May 13
First quarter 2026 earnings released: EPS: NT$0.62 (vs NT$0.55 in 1Q 2025) First quarter 2026 results: EPS: NT$0.62 (up from NT$0.55 in 1Q 2025). Revenue: NT$795.5m (down 3.1% from 1Q 2025). Net income: NT$100.6m (up 14% from 1Q 2025). Profit margin: 13% (up from 11% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. New Risk • Mar 11
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 7.8% 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: Minor Risks Dividend is not well covered by earnings (103% payout ratio). Share price has been volatile over the past 3 months (7.8% average weekly change). Annuncio • Mar 11
Hsin Tai Gas Co., Ltd., Annual General Meeting, Jun 09, 2026 Hsin Tai Gas Co., Ltd., Annual General Meeting, Jun 09, 2026, at 09:00 Taipei Standard Time. Location: 4 floor no,134, wu kung 2nd rd., wugu district, new taipei city Taiwan Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: NT$2.23 (vs NT$2.36 in FY 2024) Full year 2025 results: EPS: NT$2.23 (down from NT$2.36 in FY 2024). Revenue: NT$3.10b (up 12% from FY 2024). Net income: NT$363.3m (down 5.4% from FY 2024). Profit margin: 12% (down from 14% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 09
Second quarter 2025 earnings released: EPS: NT$0.63 (vs NT$0.76 in 2Q 2024) Second quarter 2025 results: EPS: NT$0.63 (down from NT$0.76 in 2Q 2024). Revenue: NT$813.2m (up 23% from 2Q 2024). Net income: NT$102.4m (down 17% from 2Q 2024). Profit margin: 13% (down from 19% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 27
Upcoming dividend of NT$2.20 per share Eligible shareholders must have bought the stock before 02 July 2025. Payment date: 31 July 2025. Payout ratio is on the higher end at 97%, and the cash payout ratio is above 100%. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (5.2%). In line with average of industry peers (3.8%). Declared Dividend • Jun 13
Dividend of NT$2.20 announced Dividend of NT$2.20 is the same as last year. Ex-date: 2nd July 2025 Payment date: 31st July 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio) nor is it covered by cash flows (108% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 7.9% to bring the payout ratio under control. However, EPS has declined by 1.7% over the last 5 years so the company would need to reverse this trend. Annuncio • Jun 11
Hsin Tai Gas Co., Ltd. Appoints Shih-Feng Chien as Director, Effective June 10, 2025 Hsin Tai Gas Co., Ltd. appointed Shih-Feng Chien as Director, representing the Veterans Affairs Council, ROC. The effective date of the new appointment is June 10, 2025. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: NT$0.54 (vs NT$0.64 in 1Q 2024) First quarter 2025 results: EPS: NT$0.54 (down from NT$0.64 in 1Q 2024). Revenue: NT$820.9m (up 15% from 1Q 2024). Net income: NT$88.6m (down 15% from 1Q 2024). Profit margin: 11% (down from 15% 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 3% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Annuncio • Apr 24
Hsin Tai Gas Co., Ltd. to Report Q1, 2025 Results on May 06, 2025 Hsin Tai Gas Co., Ltd. announced that they will report Q1, 2025 results on May 06, 2025 Reported Earnings • Mar 15
Full year 2024 earnings released: EPS: NT$2.36 (vs NT$2.38 in FY 2023) Full year 2024 results: EPS: NT$2.36 (down from NT$2.38 in FY 2023). Revenue: NT$2.77b (up 7.3% from FY 2023). Net income: NT$383.9m (flat on FY 2023). Profit margin: 14% (down from 15% in FY 2023). 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 8% per year, which means it is significantly lagging earnings. Annuncio • Mar 14
Hsin Tai Gas Co., Ltd., Annual General Meeting, Jun 10, 2025 Hsin Tai Gas Co., Ltd., Annual General Meeting, Jun 10, 2025, at 09:00 Taipei Standard Time. Location: 4 floor no,134, wu kung 2nd rd., wugu district, new taipei city Taiwan Annuncio • Mar 12
Hsin Tai Gas Co., Ltd. Proposes Dividend Distribution for the Year 2024 Hsin Tai Gas Co., Ltd. proposed cash dividend of TWD 2.2 per share for the full year 2024. Total amount of cash dividends to shareholders of TWD 357,835,409. Annuncio • Feb 25
Hsin Tai Gas Co., Ltd. to Report Q4, 2024 Results on Mar 11, 2025 Hsin Tai Gas Co., Ltd. announced that they will report Q4, 2024 results on Mar 11, 2025 Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: NT$0.53 (vs NT$0.56 in 3Q 2023) Third quarter 2024 results: EPS: NT$0.53 (down from NT$0.56 in 3Q 2023). Revenue: NT$625.3m (up 7.5% from 3Q 2023). Net income: NT$86.3m (down 4.9% from 3Q 2023). Profit margin: 14% (down from 16% 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 6% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Annuncio • Oct 23
Hsin Tai Gas Co., Ltd. to Report Q3, 2024 Results on Nov 06, 2024 Hsin Tai Gas Co., Ltd. announced that they will report Q3, 2024 results on Nov 06, 2024 Annuncio • Jul 24
Hsin Tai Gas Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024 Hsin Tai Gas Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024 Upcoming Dividend • Jun 27
Upcoming dividend of NT$2.20 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 31 July 2024. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (3.1%). Annuncio • Jun 19
Hsin Tai Gas Co., Ltd. Announces Cash Dividends, Payable on July 31, 2024 Hsin Tai Gas Co., Ltd. announced cash dividends TWD 357,835,409 and Cash dividend TWD 2.2 per share, Ex-rights (Ex-dividend) date: July 4, 2024; Ex-rights (Ex-dividend) record date: July 10, 2024; Payment date of cash dividend distribution: July 31, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: NT$0.64 (vs NT$0.68 in 1Q 2023) First quarter 2024 results: EPS: NT$0.64 (down from NT$0.68 in 1Q 2023). Revenue: NT$715.0m (flat on 1Q 2023). Net income: NT$104.1m (down 6.2% from 1Q 2023). Profit margin: 15% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Buying Opportunity • Jan 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.7%. The fair value is estimated to be NT$79.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 3.2%. Annuncio • Nov 30
Hsin Tai Gas Co., Ltd. Announces Executive Changes Hsin Tai Gas Co., Ltd. announced the change in representative of a legal person director. Name of the previous position holder: An-Cheng Hsieh; Resume of the previous position holder: Representative Director. Name of the new position holder: Hui-Mei Chen. Resume of the new position holder: Representative Director. Reason for the change: Reassignment. Effective date of the new appointment is November 29, 2023. Annuncio • Nov 28
Hsin Tai Gas Co., Ltd. Announces the Demise of An-Cheng Hsieh, Representative Director Hsin Tai Gas Co., Ltd. announced the demise of An-Cheng Hsieh, Representative Director for Tong-Chan Enterprise Co., Ltd. Reason for the change: Died of illness. Date of occurrence of the change: November 25, 2023. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: NT$0.71 (vs NT$0.58 in 2Q 2022) Second quarter 2023 results: EPS: NT$0.71 (up from NT$0.58 in 2Q 2022). Revenue: NT$642.7m (down 1.7% from 2Q 2022). Net income: NT$115.4m (up 23% from 2Q 2022). Profit margin: 18% (up from 14% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 11
Upcoming dividend of NT$2.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 18 July 2023. Payment date: 08 August 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (2.4%). Annuncio • Jun 14
Hsin Tai Gas Co., Ltd. Approves Cash Dividend, Payable on August 8, 2023 Hsin Tai Gas Co., Ltd. announced that at the shareholders meeting held on June 13, 2023 approved Cash dividend of TWD 2.0 per share. Ex-rights (Ex-dividend) date is July 18, 2023. Ex-rights (Ex-dividend) record date is July 24, 2023. Payment date of cash dividend distribution is August 8, 2023. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: NT$2.26 (vs NT$2.01 in FY 2021) Full year 2022 results: EPS: NT$2.26 (up from NT$2.01 in FY 2021). Revenue: NT$2.54b (up 10% from FY 2021). Net income: NT$368.0m (up 13% from FY 2021). Profit margin: 14% (in line with FY 2021). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to NT$73.60, the stock trades at a trailing P/E ratio of 33.7x. Average trailing P/E is 31x in the Gas Utilities industry in Taiwan. Total returns to shareholders of 98% over the past three years. Board Change • Jan 31
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 3 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Chu-Hsun Chang was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: NT$0.61 (vs NT$0.52 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.61 (up from NT$0.52 in 3Q 2021). Revenue: NT$587.8m (up 13% from 3Q 2021). Net income: NT$98.6m (up 17% from 3Q 2021). Profit margin: 17% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 3 highly experienced directors. 3 independent directors (7 non-independent directors). Independent Director Chu-Hsun Chang was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: NT$0.61 (vs NT$0.52 in 3Q 2021) Third quarter 2022 results: EPS: NT$0.61 (up from NT$0.52 in 3Q 2021). Revenue: NT$587.8m (up 13% from 3Q 2021). Net income: NT$98.6m (up 17% from 3Q 2021). Profit margin: 17% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Reported Earnings • Aug 15
Second quarter 2022 earnings released: EPS: NT$0.64 (vs NT$0.59 in 2Q 2021) Second quarter 2022 results: EPS: NT$0.64. Revenue: NT$653.6m (up 12% from 2Q 2021). Net income: NT$94.2m (down 1.4% from 2Q 2021). Profit margin: 14% (down from 16% in 2Q 2021). The decrease in margin was driven by higher expenses. Upcoming Dividend • Aug 04
Upcoming dividend of NT$1.10 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 07 September 2022. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (2.3%). Reported Earnings • May 16
First quarter 2022 earnings released: EPS: NT$0.72 (vs NT$0.62 in 1Q 2021) First quarter 2022 results: EPS: NT$0.72 (up from NT$0.62 in 1Q 2021). Revenue: NT$678.0m (up 12% from 1Q 2021). Net income: NT$107.2m (up 17% from 1Q 2021). Profit margin: 16% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: NT$2.21 (vs NT$2.19 in FY 2020) Full year 2021 results: EPS: NT$2.21 (up from NT$2.19 in FY 2020). Revenue: NT$2.30b (flat on FY 2020). Net income: NT$326.4m (flat on FY 2020). Profit margin: 14% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS NT$0.57 (vs NT$0.59 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$519.0m (up 3.4% from 3Q 2020). Net income: NT$84.0m (down 3.3% from 3Q 2020). Profit margin: 16% (down from 17% in 3Q 2020). The decrease in margin was driven by higher 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 30% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 09
Upcoming dividend of NT$1.50 per share Eligible shareholders must have bought the stock before 16 September 2021. Payment date: 15 October 2021. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.6%). Reported Earnings • Aug 14
Second quarter 2021 earnings released: EPS NT$0.71 (vs NT$0.76 in 2Q 2020) The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: NT$582.2m (flat on 2Q 2020). Net income: NT$95.5m (down 7.0% from 2Q 2020). Profit margin: 16% (down from 18% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 15
First quarter 2021 earnings released: EPS NT$0.68 (vs NT$0.60 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$605.6m (down 11% from 1Q 2020). Net income: NT$91.4m (up 13% from 1Q 2020). Profit margin: 15% (up from 12% 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 20% per year whereas the company’s share price has increased by 23% per year. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improved over the past week After last week's 16% share price gain to NT$87.00, the stock trades at a trailing P/E ratio of 36.1x. Average trailing P/E is 22x in the Gas Utilities industry in Taiwan. Total returns to shareholders of 120% over the past three years. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS NT$2.41 (vs NT$2.72 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: NT$2.31b (down 5.8% from FY 2019). Net income: NT$324.0m (down 11% from FY 2019). Profit margin: 14% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 18% per year. Is New 90 Day High Low • Feb 18
New 90-day high: NT$70.00 The company is up 5.0% from its price of NT$66.50 on 20 November 2020. The Taiwanese market is up 18% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Gas Utilities industry, which is up 4.0% over the same period. Is New 90 Day High Low • Feb 06
New 90-day high: NT$69.60 The company is up 5.0% from its price of NT$66.00 on 05 November 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Gas Utilities industry, which is up 4.0% over the same period. Is New 90 Day High Low • Jan 13
New 90-day high: NT$69.00 The company is up 7.0% from its price of NT$64.60 on 15 October 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Gas Utilities industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 21
New 90-day high: NT$68.80 The company is up 7.0% from its price of NT$64.50 on 23 September 2020. The Taiwanese market is up 11% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Gas Utilities industry, which is also up 7.0% over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: NT$66.50 The company is up 6.0% from its price of NT$62.50 on 21 August 2020. The Taiwanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Gas Utilities industry, which is also up 6.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS NT$0.65 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$501.7m (down 2.2% from 3Q 2019). Net income: NT$86.9m (up 35% from 3Q 2019). Profit margin: 17% (up from 13% 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 26% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.