BTL（6840）株式概要BTL Inc.は、東アジア、南アジア、東南アジア、中東、アフリカ、ヨーロッパ、南米、北米において、電磁適合性認証および安全検査サービスを提供しています。 詳細6840 ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長0/6過去の実績4/6財務の健全性6/6配当金2/6報酬当社が推定した公正価値より26.7%で取引されている 過去1年間で収益は499.9%増加しました リスク分析過去5年間で収益は年間37.6%減少しました。 意味のある時価総額がありません ( NT$2B )1.58%の配当はフリーキャッシュフローで十分にカバーされていない すべてのリスクチェックを見る6840 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueNT$Current PriceNT$63.4030.7% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-34m1b2016201920222025202620282031Revenue NT$1.0bEarnings NT$51.2mAdvancedSet Fair ValueView all narrativesBTL Inc. 競合他社Rich Honour International DesignsSymbol: TWSE:6754Market cap: NT$2.9bSporton InternationalSymbol: TPEX:6146Market cap: NT$22.5bChainSea Information IntegrationLtdSymbol: TPEX:6898Market cap: NT$3.0bRevivegenSymbol: TPEX:7578Market cap: NT$1.9b価格と性能株価の高値、安値、推移の概要BTL過去の株価現在の株価NT$63.4052週高値NT$83.8052週安値NT$38.55ベータ0.811ヶ月の変化-13.15%3ヶ月変化4.28%1年変化56.54%3年間の変化-0.37%5年間の変化n/aIPOからの変化-33.58%最新ニュースReported Earnings • May 14First quarter 2026 earnings released: EPS: NT$0.12 (vs NT$0.18 in 1Q 2025)First quarter 2026 results: EPS: NT$0.12 (down from NT$0.18 in 1Q 2025). Revenue: NT$213.2m (up 8.4% from 1Q 2025). Net income: NT$3.66m (down 33% from 1Q 2025). Profit margin: 1.7% (down from 2.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year.New Risk • May 06New 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: 1.5% 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 Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$2.08b market cap, or US$66.0m).Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$71.30, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 19x in the Professional Services industry in Taiwan. Total loss to shareholders of 7.9% over the past three years.Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.58 (vs NT$0.54 in FY 2024)Full year 2025 results: EPS: NT$1.58 (up from NT$0.54 in FY 2024). Revenue: NT$909.1m (up 8.5% from FY 2024). Net income: NT$48.0m (up 209% from FY 2024). Profit margin: 5.3% (up from 1.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.お知らせ • Mar 06BTL Inc., Annual General Meeting, Jun 09, 2026BTL Inc., Annual General Meeting, Jun 09, 2026. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city TaiwanNew Risk • Feb 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (NT$1.94b market cap, or US$61.7m).最新情報をもっと見るRecent updatesReported Earnings • May 14First quarter 2026 earnings released: EPS: NT$0.12 (vs NT$0.18 in 1Q 2025)First quarter 2026 results: EPS: NT$0.12 (down from NT$0.18 in 1Q 2025). Revenue: NT$213.2m (up 8.4% from 1Q 2025). Net income: NT$3.66m (down 33% from 1Q 2025). Profit margin: 1.7% (down from 2.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year.New Risk • May 06New 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: 1.5% 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 Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$2.08b market cap, or US$66.0m).Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$71.30, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 19x in the Professional Services industry in Taiwan. Total loss to shareholders of 7.9% over the past three years.Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.58 (vs NT$0.54 in FY 2024)Full year 2025 results: EPS: NT$1.58 (up from NT$0.54 in FY 2024). Revenue: NT$909.1m (up 8.5% from FY 2024). Net income: NT$48.0m (up 209% from FY 2024). Profit margin: 5.3% (up from 1.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.お知らせ • Mar 06BTL Inc., Annual General Meeting, Jun 09, 2026BTL Inc., Annual General Meeting, Jun 09, 2026. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city TaiwanNew Risk • Feb 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (NT$1.94b market cap, or US$61.7m).Valuation Update With 7 Day Price Move • Jan 19Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$76.20, the stock trades at a trailing P/E ratio of 74.8x. Average trailing P/E is 17x in the Professional Services industry in Asia. Total returns to shareholders of 8.5% over the past three years.Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$0.71 (vs NT$0.15 loss in 3Q 2024)Third quarter 2025 results: EPS: NT$0.71 (up from NT$0.15 loss in 3Q 2024). Revenue: NT$232.8m (up 2.7% from 3Q 2024). Net income: NT$21.6m (up NT$25.6m from 3Q 2024). Profit margin: 9.3% (up from net loss in 3Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.New Risk • Aug 31New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 128% 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 Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.06b market cap, or US$67.4m).New Risk • Aug 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (NT$2.06b market cap, or US$67.4m).Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: NT$0.28 (vs NT$0.40 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.28 (down from NT$0.40 in 2Q 2024). Revenue: NT$239.8m (up 9.4% from 2Q 2024). Net income: NT$8.61m (down 22% from 2Q 2024). Profit margin: 3.6% (down from 5.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance.Upcoming Dividend • Jul 01Upcoming dividend of NT$0.30 per shareEligible shareholders must have bought the stock before 08 July 2025. Payment date: 31 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (5.6%).Reported Earnings • May 12Full year 2024 earnings released: EPS: NT$0.54 (vs NT$1.96 loss in FY 2023)Full year 2024 results: EPS: NT$0.54 (up from NT$1.96 loss in FY 2023). Revenue: NT$838.2m (up 19% from FY 2023). Net income: NT$15.5m (up NT$69.0m from FY 2023). Profit margin: 1.8% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance.お知らせ • Mar 04BTL Inc., Annual General Meeting, Jun 11, 2025BTL Inc., Annual General Meeting, Jun 11, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city TaiwanNew Risk • Dec 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.55b market cap, or US$47.5m).Reported Earnings • Nov 17Third quarter 2024 earnings released: NT$0.15 loss per share (vs NT$0.63 loss in 3Q 2023)Third quarter 2024 results: NT$0.15 loss per share (improved from NT$0.63 loss in 3Q 2023). Revenue: NT$226.6m (up 35% from 3Q 2023). Net loss: NT$4.08m (loss narrowed 77% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance.New Risk • Oct 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.0% 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 41% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.77b market cap, or US$55.0m).Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: NT$0.40 (vs NT$0.071 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$0.40 (up from NT$0.071 loss in 2Q 2023). Revenue: NT$219.2m (up 24% from 2Q 2023). Net income: NT$11.1m (up NT$13.0m from 2Q 2023). Profit margin: 5.0% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 10Full year 2023 earnings released: NT$2.16 loss per share (vs NT$5.87 profit in FY 2022)Full year 2023 results: NT$2.16 loss per share (down from NT$5.87 profit in FY 2022). Revenue: NT$702.8m (down 21% from FY 2022). Net loss: NT$53.5m (down 140% from profit in FY 2022).お知らせ • Feb 29BTL Inc., Annual General Meeting, Jun 07, 2024BTL Inc., Annual General Meeting, Jun 07, 2024.New Risk • Aug 12New major risk - Revenue and earnings growthRevenue has declined by 8.5% 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 8.5% over the past year. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.4% net profit margin). Shareholders have been diluted in the past year (10.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.68b market cap, or US$52.6m).Reported Earnings • Aug 11Second quarter 2023 earnings released: NT$0.08 loss per share (vs NT$1.61 profit in 2Q 2022)Second quarter 2023 results: NT$0.08 loss per share (down from NT$1.61 profit in 2Q 2022). Revenue: NT$177.5m (down 23% from 2Q 2022). Net loss: NT$1.97m (down 105% from profit in 2Q 2022).Upcoming Dividend • Jun 30Upcoming dividend of NT$2.73 per share at 4.1% yieldEligible shareholders must have bought the stock before 07 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 70% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.4%).Reported Earnings • May 13First quarter 2023 earnings released: NT$0.26 loss per share (vs NT$1.31 profit in 1Q 2022)First quarter 2023 results: NT$0.26 loss per share (down from NT$1.31 profit in 1Q 2022). Revenue: NT$176.5m (down 16% from 1Q 2022). Net loss: NT$6.10m (down 120% from profit in 1Q 2022).Reported Earnings • Mar 06Full year 2022 earnings released: EPS: NT$5.87 (vs NT$5.62 in FY 2021)Full year 2022 results: EPS: NT$5.87 (up from NT$5.62 in FY 2021). Revenue: NT$888.2m (up 7.7% from FY 2021). Net income: NT$134.9m (up 4.5% from FY 2021). Profit margin: 15% (in line with FY 2021).Valuation Update With 7 Day Price Move • Feb 20Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$99.90, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 24x in the Professional Services industry in Asia. Total loss to shareholders of 19% over the past year.Reported Earnings • Nov 20Third quarter 2022 earnings released: EPS: NT$2.14 (vs NT$1.45 in 3Q 2021)Third quarter 2022 results: EPS: NT$2.14 (up from NT$1.45 in 3Q 2021). Revenue: NT$250.9m (up 15% from 3Q 2021). Net income: NT$49.1m (up 47% from 3Q 2021). Profit margin: 20% (up from 15% in 3Q 2021). The increase in margin was driven by higher revenue.Valuation Update With 7 Day Price Move • Aug 22Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$98.80, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 23x in the Professional Services industry in Asia. Total returns to shareholders of 20% over the past year.お知らせ • Mar 23BTL Inc., Annual General Meeting, Jun 20, 2022BTL Inc., Annual General Meeting, Jun 20, 2022.株主還元6840TW Professional ServicesTW 市場7D3.4%-0.09%-1.2%1Y56.5%7.0%90.3%株主還元を見る業界別リターン: 6840過去 1 年間で7 % の収益を上げたTW Professional Services業界を上回りました。リターン対市場: 6840は、過去 1 年間で90.3 % のリターンを上げたTW市場を下回りました。価格変動Is 6840's price volatile compared to industry and market?6840 volatility6840 Average Weekly Movement6.9%Professional Services Industry Average Movement5.6%Market Average Movement6.2%10% most volatile stocks in TW Market12.3%10% least volatile stocks in TW Market2.5%安定した株価: 6840 、 TW市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 6840の 週次ボラティリティ ( 7% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1976n/aDenny Wuwww.btl.com.twBTL Inc.は東アジア、南アジア、東南アジア、中東、アフリカ、ヨーロッパ、南米、北米で電磁適合性認証と安全検査サービスを提供している。同社の技術プラットフォームには、モバイル通信、ブルートゥースおよびBQB認証、SAR/OTA、IoT、電磁両立性、RF、電気通信、安全、新エネルギー、その他の技術プラットフォームも含まれる。同社は1976年に設立され、台湾の台北に本社を置いている。もっと見るBTL Inc. 基礎のまとめBTL の収益と売上を時価総額と比較するとどうか。6840 基礎統計学時価総額NT$1.95b収益（TTM）NT$46.13m売上高(TTM)NT$925.63m42.2xPER（株価収益率2.1xP/Sレシオ6840 は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計6840 損益計算書（TTM）収益NT$925.63m売上原価NT$543.68m売上総利益NT$381.94mその他の費用NT$335.81m収益NT$46.13m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）1.50グロス・マージン41.26%純利益率4.98%有利子負債／自己資本比率26.0%6840 の長期的なパフォーマンスは？過去の実績と比較を見る配当金1.6%現在の配当利回り67%配当性向View Valuation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2026/05/21 16:15終値2026/05/21 00:00収益2026/03/31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BTL Inc. 0 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null nullSinoPac Securities Investment Service
Reported Earnings • May 14First quarter 2026 earnings released: EPS: NT$0.12 (vs NT$0.18 in 1Q 2025)First quarter 2026 results: EPS: NT$0.12 (down from NT$0.18 in 1Q 2025). Revenue: NT$213.2m (up 8.4% from 1Q 2025). Net income: NT$3.66m (down 33% from 1Q 2025). Profit margin: 1.7% (down from 2.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year.
New Risk • May 06New 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: 1.5% 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 Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$2.08b market cap, or US$66.0m).
Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$71.30, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 19x in the Professional Services industry in Taiwan. Total loss to shareholders of 7.9% over the past three years.
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.58 (vs NT$0.54 in FY 2024)Full year 2025 results: EPS: NT$1.58 (up from NT$0.54 in FY 2024). Revenue: NT$909.1m (up 8.5% from FY 2024). Net income: NT$48.0m (up 209% from FY 2024). Profit margin: 5.3% (up from 1.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 06BTL Inc., Annual General Meeting, Jun 09, 2026BTL Inc., Annual General Meeting, Jun 09, 2026. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan
New Risk • Feb 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (NT$1.94b market cap, or US$61.7m).
Reported Earnings • May 14First quarter 2026 earnings released: EPS: NT$0.12 (vs NT$0.18 in 1Q 2025)First quarter 2026 results: EPS: NT$0.12 (down from NT$0.18 in 1Q 2025). Revenue: NT$213.2m (up 8.4% from 1Q 2025). Net income: NT$3.66m (down 33% from 1Q 2025). Profit margin: 1.7% (down from 2.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year.
New Risk • May 06New 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: 1.5% 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 Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (NT$2.08b market cap, or US$66.0m).
Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improves as stock rises 20%After last week's 20% share price gain to NT$71.30, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 19x in the Professional Services industry in Taiwan. Total loss to shareholders of 7.9% over the past three years.
Reported Earnings • Mar 12Full year 2025 earnings released: EPS: NT$1.58 (vs NT$0.54 in FY 2024)Full year 2025 results: EPS: NT$1.58 (up from NT$0.54 in FY 2024). Revenue: NT$909.1m (up 8.5% from FY 2024). Net income: NT$48.0m (up 209% from FY 2024). Profit margin: 5.3% (up from 1.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 06BTL Inc., Annual General Meeting, Jun 09, 2026BTL Inc., Annual General Meeting, Jun 09, 2026. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan
New Risk • Feb 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (NT$1.94b market cap, or US$61.7m).
Valuation Update With 7 Day Price Move • Jan 19Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$76.20, the stock trades at a trailing P/E ratio of 74.8x. Average trailing P/E is 17x in the Professional Services industry in Asia. Total returns to shareholders of 8.5% over the past three years.
Reported Earnings • Nov 12Third quarter 2025 earnings released: EPS: NT$0.71 (vs NT$0.15 loss in 3Q 2024)Third quarter 2025 results: EPS: NT$0.71 (up from NT$0.15 loss in 3Q 2024). Revenue: NT$232.8m (up 2.7% from 3Q 2024). Net income: NT$21.6m (up NT$25.6m from 3Q 2024). Profit margin: 9.3% (up from net loss in 3Q 2024). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.
New Risk • Aug 31New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 128% 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 Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (NT$2.06b market cap, or US$67.4m).
New Risk • Aug 29New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (NT$2.06b market cap, or US$67.4m).
Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: NT$0.28 (vs NT$0.40 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.28 (down from NT$0.40 in 2Q 2024). Revenue: NT$239.8m (up 9.4% from 2Q 2024). Net income: NT$8.61m (down 22% from 2Q 2024). Profit margin: 3.6% (down from 5.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance.
Upcoming Dividend • Jul 01Upcoming dividend of NT$0.30 per shareEligible shareholders must have bought the stock before 08 July 2025. Payment date: 31 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 0.7%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (5.6%).
Reported Earnings • May 12Full year 2024 earnings released: EPS: NT$0.54 (vs NT$1.96 loss in FY 2023)Full year 2024 results: EPS: NT$0.54 (up from NT$1.96 loss in FY 2023). Revenue: NT$838.2m (up 19% from FY 2023). Net income: NT$15.5m (up NT$69.0m from FY 2023). Profit margin: 1.8% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance.
お知らせ • Mar 04BTL Inc., Annual General Meeting, Jun 11, 2025BTL Inc., Annual General Meeting, Jun 11, 2025, at 09:00 Taipei Standard Time. Location: 1 floor no,399, jui kuang rd., neihu district, taipei city Taiwan
New Risk • Dec 23New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.55b market cap, or US$47.5m).
Reported Earnings • Nov 17Third quarter 2024 earnings released: NT$0.15 loss per share (vs NT$0.63 loss in 3Q 2023)Third quarter 2024 results: NT$0.15 loss per share (improved from NT$0.63 loss in 3Q 2023). Revenue: NT$226.6m (up 35% from 3Q 2023). Net loss: NT$4.08m (loss narrowed 77% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance.
New Risk • Oct 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.0% 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 41% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.77b market cap, or US$55.0m).
Reported Earnings • Aug 14Second quarter 2024 earnings released: EPS: NT$0.40 (vs NT$0.071 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$0.40 (up from NT$0.071 loss in 2Q 2023). Revenue: NT$219.2m (up 24% from 2Q 2023). Net income: NT$11.1m (up NT$13.0m from 2Q 2023). Profit margin: 5.0% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 10Full year 2023 earnings released: NT$2.16 loss per share (vs NT$5.87 profit in FY 2022)Full year 2023 results: NT$2.16 loss per share (down from NT$5.87 profit in FY 2022). Revenue: NT$702.8m (down 21% from FY 2022). Net loss: NT$53.5m (down 140% from profit in FY 2022).
お知らせ • Feb 29BTL Inc., Annual General Meeting, Jun 07, 2024BTL Inc., Annual General Meeting, Jun 07, 2024.
New Risk • Aug 12New major risk - Revenue and earnings growthRevenue has declined by 8.5% 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 8.5% over the past year. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.4% net profit margin). Shareholders have been diluted in the past year (10.0% increase in shares outstanding). Market cap is less than US$100m (NT$1.68b market cap, or US$52.6m).
Reported Earnings • Aug 11Second quarter 2023 earnings released: NT$0.08 loss per share (vs NT$1.61 profit in 2Q 2022)Second quarter 2023 results: NT$0.08 loss per share (down from NT$1.61 profit in 2Q 2022). Revenue: NT$177.5m (down 23% from 2Q 2022). Net loss: NT$1.97m (down 105% from profit in 2Q 2022).
Upcoming Dividend • Jun 30Upcoming dividend of NT$2.73 per share at 4.1% yieldEligible shareholders must have bought the stock before 07 July 2023. Payment date: 31 July 2023. Payout ratio is a comfortable 70% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (5.5%). Higher than average of industry peers (1.4%).
Reported Earnings • May 13First quarter 2023 earnings released: NT$0.26 loss per share (vs NT$1.31 profit in 1Q 2022)First quarter 2023 results: NT$0.26 loss per share (down from NT$1.31 profit in 1Q 2022). Revenue: NT$176.5m (down 16% from 1Q 2022). Net loss: NT$6.10m (down 120% from profit in 1Q 2022).
Reported Earnings • Mar 06Full year 2022 earnings released: EPS: NT$5.87 (vs NT$5.62 in FY 2021)Full year 2022 results: EPS: NT$5.87 (up from NT$5.62 in FY 2021). Revenue: NT$888.2m (up 7.7% from FY 2021). Net income: NT$134.9m (up 4.5% from FY 2021). Profit margin: 15% (in line with FY 2021).
Valuation Update With 7 Day Price Move • Feb 20Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$99.90, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 24x in the Professional Services industry in Asia. Total loss to shareholders of 19% over the past year.
Reported Earnings • Nov 20Third quarter 2022 earnings released: EPS: NT$2.14 (vs NT$1.45 in 3Q 2021)Third quarter 2022 results: EPS: NT$2.14 (up from NT$1.45 in 3Q 2021). Revenue: NT$250.9m (up 15% from 3Q 2021). Net income: NT$49.1m (up 47% from 3Q 2021). Profit margin: 20% (up from 15% in 3Q 2021). The increase in margin was driven by higher revenue.
Valuation Update With 7 Day Price Move • Aug 22Investor sentiment improved over the past weekAfter last week's 23% share price gain to NT$98.80, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 23x in the Professional Services industry in Asia. Total returns to shareholders of 20% over the past year.
お知らせ • Mar 23BTL Inc., Annual General Meeting, Jun 20, 2022BTL Inc., Annual General Meeting, Jun 20, 2022.
