View ValuationVSO Electronics 将来の成長Future 基準チェック /06 VSO Electronicsは収益が増加すると予測されています。主要情報n/a収益成長率n/aEPS成長率Electrical 収益成長31.2%収益成長率16.6%将来の株主資本利益率17.97%アナリストカバレッジLow最終更新日14 Apr 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesValuation Update With 7 Day Price Move • Apr 27Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$148, the stock trades at a trailing P/E ratio of 33.9x. Average forward P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 56% over the past three years.Valuation Update With 7 Day Price Move • Apr 10Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$126, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 15% over the past three years.Reported Earnings • Mar 15Full year 2025 earnings released: EPS: NT$4.34 (vs NT$4.55 in FY 2024)Full year 2025 results: EPS: NT$4.34. Revenue: NT$2.63b (up 22% from FY 2024). Net income: NT$189.5m (up 2.1% from FY 2024). Profit margin: 7.2% (down from 8.6% in FY 2024). The decrease in margin was driven by higher expenses.New Risk • Mar 13New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risks Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.お知らせ • Jan 21VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2026VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2026. Location: 13 floor no,95, sec.2 chung hsiao e. rd., taipei city TaiwanNew Risk • Nov 20New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.6% 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 Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio).Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$1.57 (vs NT$1.07 in 3Q 2024)Third quarter 2025 results: EPS: NT$1.57 (up from NT$1.07 in 3Q 2024). Revenue: NT$727.0m (up 27% from 3Q 2024). Net income: NT$68.3m (up 60% from 3Q 2024). Profit margin: 9.4% (up from 7.5% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Nov 10Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to NT$119, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 75% over the past three years.Valuation Update With 7 Day Price Move • Sep 02Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$142, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 23x in the Electrical industry in Taiwan. Total returns to shareholders of 22% over the past year.Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: NT$0.78 (vs NT$0.99 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.78 (down from NT$0.99 in 2Q 2024). Revenue: NT$647.9m (up 25% from 2Q 2024). Net income: NT$33.9m (down 14% from 2Q 2024). Profit margin: 5.2% (down from 7.6% in 2Q 2024). The decrease in margin was driven by higher expenses.New Risk • Jul 11New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.2% 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 Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 2.8% per year over the past 5 years. High level of non-cash earnings (49% accrual ratio).Upcoming Dividend • Jun 24Upcoming dividend of NT$2.01 per shareEligible shareholders must have bought the stock before 01 July 2025. Payment date: 21 July 2025. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.8%).Valuation Update With 7 Day Price Move • Jun 23Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$129, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 4.0% over the past year.Reported Earnings • May 14First quarter 2025 earnings released: EPS: NT$1.12 (vs NT$0.64 in 1Q 2024)First quarter 2025 results: EPS: NT$1.12 (up from NT$0.64 in 1Q 2024). Revenue: NT$578.6m (up 38% from 1Q 2024). Net income: NT$46.9m (up 93% from 1Q 2024). Profit margin: 8.1% (up from 5.8% in 1Q 2024). The increase in margin was driven by higher revenue.お知らせ • May 03VSO Electronics Co., Ltd. to Report Q1, 2025 Results on May 12, 2025VSO Electronics Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$106, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 44% over the past year.Reported Earnings • Mar 20Full year 2024 earnings released: EPS: NT$4.78 (vs NT$3.05 in FY 2023)Full year 2024 results: EPS: NT$4.78 (up from NT$3.05 in FY 2023). Revenue: NT$2.16b (up 19% from FY 2023). Net income: NT$185.6m (up 62% from FY 2023). Profit margin: 8.6% (up from 6.3% in FY 2023). The increase in margin was driven by higher revenue.お知らせ • Mar 01VSO Electronics Co., Ltd. Announces the Retirement of Roger Tsai as CEO, Effective March 31, 2025VSO Electronics Co., Ltd. announced the retirement of Roger Tsai as CEO of the Company, effective March 31, 2025.Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improves as stock rises 26%After last week's 26% share price gain to NT$152, the stock trades at a trailing P/E ratio of 54.1x. Average trailing P/E is 21x in the Electrical industry in Taiwan. Total returns to shareholders of 104% over the past year.お知らせ • Jan 17VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2025VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2025. Location: 13 floor no,95, sec.2 chung hsiao e. rd., taipei city TaiwanNew Risk • Dec 05New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.2% 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 Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 4.9% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (6.0% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding).Valuation Update With 7 Day Price Move • Dec 05Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$149, the stock trades at a trailing P/E ratio of 52.7x. Average trailing P/E is 24x in the Electrical industry in Taiwan. Total returns to shareholders of 86% over the past year.Reported Earnings • Nov 19Third quarter 2024 earnings released: EPS: NT$1.12 (vs NT$0.63 in 3Q 2023)Third quarter 2024 results: EPS: NT$1.12 (up from NT$0.63 in 3Q 2023). Revenue: NT$572.3m (up 24% from 3Q 2023). Net income: NT$42.8m (up 81% from 3Q 2023). Profit margin: 7.5% (up from 5.1% in 3Q 2023). The increase in margin was driven by higher revenue.New Risk • Nov 09New minor risk - Shareholder dilutionThe 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 Risk Earnings have declined by 0.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding).New Risk • Nov 04New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% 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 Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (5.3% net profit margin).Valuation Update With 7 Day Price Move • Oct 22Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$127, the stock trades at a trailing P/E ratio of 49.2x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 64% over the past year.Valuation Update With 7 Day Price Move • Oct 04Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$107, the stock trades at a trailing P/E ratio of 41.2x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 36% over the past year.Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$1.04 (vs NT$0.49 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.04 (up from NT$0.49 in 2Q 2023). Revenue: NT$519.0m (up 40% from 2Q 2023). Net income: NT$39.4m (up 114% from 2Q 2023). Profit margin: 7.6% (up from 5.0% in 2Q 2023). The increase in margin was driven by higher revenue.Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$109, the stock trades at a trailing P/E ratio of 53.6x. Average trailing P/E is 28x in the Electrical industry in Taiwan. Total returns to shareholders of 46% over the past year.Valuation Update With 7 Day Price Move • Jun 17Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$123, the stock trades at a trailing P/E ratio of 60.3x. Average trailing P/E is 29x in the Electrical industry in Taiwan. Total returns to shareholders of 50% over the past year.Upcoming Dividend • Jun 05Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 12 June 2024. Payment date: 05 July 2024. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.5%).Reported Earnings • May 21First quarter 2024 earnings released: EPS: NT$0.64 (vs NT$1.07 in 1Q 2023)First quarter 2024 results: EPS: NT$0.64 (down from NT$1.07 in 1Q 2023). Revenue: NT$420.0m (down 7.2% from 1Q 2023). Net income: NT$24.2m (down 39% from 1Q 2023). Profit margin: 5.8% (down from 8.8% in 1Q 2023). The decrease in margin was driven by lower revenue.Buy Or Sell Opportunity • May 14Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 28% to NT$96.90. The fair value is estimated to be NT$79.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only.Reported Earnings • Apr 09Full year 2023 earnings released: EPS: NT$3.05 (vs NT$9.90 in FY 2022)Full year 2023 results: EPS: NT$3.05 (down from NT$9.90 in FY 2022). Revenue: NT$1.82b (down 20% from FY 2022). Net income: NT$114.3m (down 68% from FY 2022). Profit margin: 6.3% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue.New Risk • Feb 27New minor risk - Financial data availabilityThe 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 Risk Revenue has declined by 6.4% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (NT$2.86b market cap, or US$90.6m).お知らせ • Jan 11VSO Electronics Co., Ltd., Annual General Meeting, May 15, 2024VSO Electronics Co., Ltd., Annual General Meeting, May 15, 2024.New Risk • Aug 14New major risk - Revenue and earnings growthRevenue has declined by 6.4% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 6.4% over the past year. Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Market cap is less than US$100m (NT$2.69b market cap, or US$84.2m).New Risk • Jun 21New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.06b (US$98.8m) 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 (24% accrual ratio). Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$3.06b market cap, or US$98.8m).Valuation Update With 7 Day Price Move • May 15Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$103, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 15x in the Electrical industry in Taiwan.Reported Earnings • Apr 11Full year 2022 earnings released: EPS: NT$10.89 (vs NT$3.47 in FY 2021)Full year 2022 results: EPS: NT$10.89 (up from NT$3.47 in FY 2021). Revenue: NT$2.27b (up 7.3% from FY 2021). Net income: NT$360.3m (up 237% from FY 2021). Profit margin: 16% (up from 5.0% in FY 2021). The increase in margin was primarily driven by higher revenue.Buying Opportunity • Mar 28Now 20% undervaluedOver the last 90 days, the stock is up 30%. The fair value is estimated to be NT$163, however this is not to be taken as a buy recommendation but rather should be used as a guide only.Valuation Update With 7 Day Price Move • Mar 27Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$133, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 15x in the Electrical industry in Taiwan.お知らせ • Jan 14VSO Electronics Co., Ltd., Annual General Meeting, May 11, 2023VSO Electronics Co., Ltd., Annual General Meeting, May 11, 2023.業績と収益の成長予測TPEX:6913 - アナリストの将来予測と過去の財務データ ( )TWD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/20273,686N/AN/A547112/31/20263,240N/AN/A414112/31/20252,632190-115206N/A9/30/20252,605228-134111N/A6/30/20252,451203-164105N/A3/31/20252,322208-20159N/A12/31/20242,163186-6650N/A9/30/20241,960117-5044N/A6/30/20241,85098-652N/A3/31/20241,7017763128N/A12/31/20231,816114201289N/A9/30/20231,943210268379N/A6/30/20232,057294296431N/A3/31/20232,248348317430N/A12/31/20222,274360229323N/A9/30/20222,236287261339N/A6/30/20222,198213293355N/A3/31/20222,158160221284N/A12/31/20212,119107149214N/A12/31/20201,988101196406N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 6913の予測収益成長が 貯蓄率 ( 1.3% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: 6913の収益がTW市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: 6913の収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: 6913の収益 ( 16.6% ) TW市場 ( 18.2% ) よりも低い成長が予測されています。高い収益成長: 6913の収益 ( 16.6% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 6913の 自己資本利益率 は、3年後には低くなると予測されています ( 18 %)。成長企業の発掘7D1Y7D1Y7D1YCapital-goods 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/09 00:44終値2026/05/08 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋VSO Electronics Co., Ltd. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Meizhen WangCapital Securities Corporation
Valuation Update With 7 Day Price Move • Apr 27Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$148, the stock trades at a trailing P/E ratio of 33.9x. Average forward P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 56% over the past three years.
Valuation Update With 7 Day Price Move • Apr 10Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$126, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 15% over the past three years.
Reported Earnings • Mar 15Full year 2025 earnings released: EPS: NT$4.34 (vs NT$4.55 in FY 2024)Full year 2025 results: EPS: NT$4.34. Revenue: NT$2.63b (up 22% from FY 2024). Net income: NT$189.5m (up 2.1% from FY 2024). Profit margin: 7.2% (down from 8.6% in FY 2024). The decrease in margin was driven by higher expenses.
New Risk • Mar 13New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risks Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
お知らせ • Jan 21VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2026VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2026. Location: 13 floor no,95, sec.2 chung hsiao e. rd., taipei city Taiwan
New Risk • Nov 20New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.6% 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 Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). Earnings have declined by 0.3% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio).
Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$1.57 (vs NT$1.07 in 3Q 2024)Third quarter 2025 results: EPS: NT$1.57 (up from NT$1.07 in 3Q 2024). Revenue: NT$727.0m (up 27% from 3Q 2024). Net income: NT$68.3m (up 60% from 3Q 2024). Profit margin: 9.4% (up from 7.5% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Nov 10Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to NT$119, the stock trades at a trailing P/E ratio of 25.4x. Average trailing P/E is 27x in the Electrical industry in Taiwan. Total returns to shareholders of 75% over the past three years.
Valuation Update With 7 Day Price Move • Sep 02Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$142, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 23x in the Electrical industry in Taiwan. Total returns to shareholders of 22% over the past year.
Reported Earnings • Aug 16Second quarter 2025 earnings released: EPS: NT$0.78 (vs NT$0.99 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.78 (down from NT$0.99 in 2Q 2024). Revenue: NT$647.9m (up 25% from 2Q 2024). Net income: NT$33.9m (down 14% from 2Q 2024). Profit margin: 5.2% (down from 7.6% in 2Q 2024). The decrease in margin was driven by higher expenses.
New Risk • Jul 11New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.2% 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 Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 2.8% per year over the past 5 years. High level of non-cash earnings (49% accrual ratio).
Upcoming Dividend • Jun 24Upcoming dividend of NT$2.01 per shareEligible shareholders must have bought the stock before 01 July 2025. Payment date: 21 July 2025. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (2.8%).
Valuation Update With 7 Day Price Move • Jun 23Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$129, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 20x in the Electrical industry in Taiwan. Total returns to shareholders of 4.0% over the past year.
Reported Earnings • May 14First quarter 2025 earnings released: EPS: NT$1.12 (vs NT$0.64 in 1Q 2024)First quarter 2025 results: EPS: NT$1.12 (up from NT$0.64 in 1Q 2024). Revenue: NT$578.6m (up 38% from 1Q 2024). Net income: NT$46.9m (up 93% from 1Q 2024). Profit margin: 8.1% (up from 5.8% in 1Q 2024). The increase in margin was driven by higher revenue.
お知らせ • May 03VSO Electronics Co., Ltd. to Report Q1, 2025 Results on May 12, 2025VSO Electronics Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$106, the stock trades at a trailing P/E ratio of 23.7x. Average trailing P/E is 17x in the Electrical industry in Taiwan. Total returns to shareholders of 44% over the past year.
Reported Earnings • Mar 20Full year 2024 earnings released: EPS: NT$4.78 (vs NT$3.05 in FY 2023)Full year 2024 results: EPS: NT$4.78 (up from NT$3.05 in FY 2023). Revenue: NT$2.16b (up 19% from FY 2023). Net income: NT$185.6m (up 62% from FY 2023). Profit margin: 8.6% (up from 6.3% in FY 2023). The increase in margin was driven by higher revenue.
お知らせ • Mar 01VSO Electronics Co., Ltd. Announces the Retirement of Roger Tsai as CEO, Effective March 31, 2025VSO Electronics Co., Ltd. announced the retirement of Roger Tsai as CEO of the Company, effective March 31, 2025.
Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improves as stock rises 26%After last week's 26% share price gain to NT$152, the stock trades at a trailing P/E ratio of 54.1x. Average trailing P/E is 21x in the Electrical industry in Taiwan. Total returns to shareholders of 104% over the past year.
お知らせ • Jan 17VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2025VSO Electronics Co., Ltd., Annual General Meeting, May 12, 2025. Location: 13 floor no,95, sec.2 chung hsiao e. rd., taipei city Taiwan
New Risk • Dec 05New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.2% 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 Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 4.9% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (6.0% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding).
Valuation Update With 7 Day Price Move • Dec 05Investor sentiment improves as stock rises 16%After last week's 16% share price gain to NT$149, the stock trades at a trailing P/E ratio of 52.7x. Average trailing P/E is 24x in the Electrical industry in Taiwan. Total returns to shareholders of 86% over the past year.
Reported Earnings • Nov 19Third quarter 2024 earnings released: EPS: NT$1.12 (vs NT$0.63 in 3Q 2023)Third quarter 2024 results: EPS: NT$1.12 (up from NT$0.63 in 3Q 2023). Revenue: NT$572.3m (up 24% from 3Q 2023). Net income: NT$42.8m (up 81% from 3Q 2023). Profit margin: 7.5% (up from 5.1% in 3Q 2023). The increase in margin was driven by higher revenue.
New Risk • Nov 09New minor risk - Shareholder dilutionThe 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 Risk Earnings have declined by 0.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (5.3% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding).
New Risk • Nov 04New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.8% 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 Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (5.3% net profit margin).
Valuation Update With 7 Day Price Move • Oct 22Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$127, the stock trades at a trailing P/E ratio of 49.2x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 64% over the past year.
Valuation Update With 7 Day Price Move • Oct 04Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$107, the stock trades at a trailing P/E ratio of 41.2x. Average trailing P/E is 25x in the Electrical industry in Taiwan. Total returns to shareholders of 36% over the past year.
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$1.04 (vs NT$0.49 in 2Q 2023)Second quarter 2024 results: EPS: NT$1.04 (up from NT$0.49 in 2Q 2023). Revenue: NT$519.0m (up 40% from 2Q 2023). Net income: NT$39.4m (up 114% from 2Q 2023). Profit margin: 7.6% (up from 5.0% in 2Q 2023). The increase in margin was driven by higher revenue.
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$109, the stock trades at a trailing P/E ratio of 53.6x. Average trailing P/E is 28x in the Electrical industry in Taiwan. Total returns to shareholders of 46% over the past year.
Valuation Update With 7 Day Price Move • Jun 17Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$123, the stock trades at a trailing P/E ratio of 60.3x. Average trailing P/E is 29x in the Electrical industry in Taiwan. Total returns to shareholders of 50% over the past year.
Upcoming Dividend • Jun 05Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 12 June 2024. Payment date: 05 July 2024. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Taiwanese dividend payers (4.3%). Lower than average of industry peers (2.5%).
Reported Earnings • May 21First quarter 2024 earnings released: EPS: NT$0.64 (vs NT$1.07 in 1Q 2023)First quarter 2024 results: EPS: NT$0.64 (down from NT$1.07 in 1Q 2023). Revenue: NT$420.0m (down 7.2% from 1Q 2023). Net income: NT$24.2m (down 39% from 1Q 2023). Profit margin: 5.8% (down from 8.8% in 1Q 2023). The decrease in margin was driven by lower revenue.
Buy Or Sell Opportunity • May 14Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 28% to NT$96.90. The fair value is estimated to be NT$79.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only.
Reported Earnings • Apr 09Full year 2023 earnings released: EPS: NT$3.05 (vs NT$9.90 in FY 2022)Full year 2023 results: EPS: NT$3.05 (down from NT$9.90 in FY 2022). Revenue: NT$1.82b (down 20% from FY 2022). Net income: NT$114.3m (down 68% from FY 2022). Profit margin: 6.3% (down from 16% in FY 2022). The decrease in margin was driven by lower revenue.
New Risk • Feb 27New minor risk - Financial data availabilityThe 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 Risk Revenue has declined by 6.4% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (NT$2.86b market cap, or US$90.6m).
お知らせ • Jan 11VSO Electronics Co., Ltd., Annual General Meeting, May 15, 2024VSO Electronics Co., Ltd., Annual General Meeting, May 15, 2024.
New Risk • Aug 14New major risk - Revenue and earnings growthRevenue has declined by 6.4% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 6.4% over the past year. Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Market cap is less than US$100m (NT$2.69b market cap, or US$84.2m).
New Risk • Jun 21New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.06b (US$98.8m) 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 (24% accrual ratio). Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (NT$3.06b market cap, or US$98.8m).
Valuation Update With 7 Day Price Move • May 15Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to NT$103, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 15x in the Electrical industry in Taiwan.
Reported Earnings • Apr 11Full year 2022 earnings released: EPS: NT$10.89 (vs NT$3.47 in FY 2021)Full year 2022 results: EPS: NT$10.89 (up from NT$3.47 in FY 2021). Revenue: NT$2.27b (up 7.3% from FY 2021). Net income: NT$360.3m (up 237% from FY 2021). Profit margin: 16% (up from 5.0% in FY 2021). The increase in margin was primarily driven by higher revenue.
Buying Opportunity • Mar 28Now 20% undervaluedOver the last 90 days, the stock is up 30%. The fair value is estimated to be NT$163, however this is not to be taken as a buy recommendation but rather should be used as a guide only.
Valuation Update With 7 Day Price Move • Mar 27Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$133, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 15x in the Electrical industry in Taiwan.
お知らせ • Jan 14VSO Electronics Co., Ltd., Annual General Meeting, May 11, 2023VSO Electronics Co., Ltd., Annual General Meeting, May 11, 2023.