Forest Water Environmental Engineering（8473）株式概要フォレスト・ウォーター環境エンジニアリング株式会社 詳細8473 ファンダメンタル分析スノーフレーク・スコア評価4/6将来の成長0/6過去の実績5/6財務の健全性6/6配当金3/6報酬当社が推定した公正価値より94.7%で取引されている 過去1年間で収益は151.8%増加しました リスク分析不安定な配当実績 すべてのリスクチェックを見る8473 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW495,270 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINROAG495,270 investors already sharing narrativesYour Fair ValueNT$Current PriceNT$49.1523.3% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-380m6b2016201920222025202620282031Revenue NT$5.7bEarnings NT$561.6mAdvancedSet Fair ValueView all narrativesForest Water Environmental Engineering Co., Ltd. 競合他社Sunny Friend Environmental TechnologySymbol: TWSE:8341Market cap: NT$10.0bJiin Yeeh Ding EnterprisesSymbol: TPEX:8390Market cap: NT$10.5bCHUNGTAI RESOURCE TechnologySymbol: TWSE:6923Market cap: NT$7.0bTechzone Technology MaterialsSymbol: TPEX:6947Market cap: NT$7.9b価格と性能株価の高値、安値、推移の概要Forest Water Environmental Engineering過去の株価現在の株価NT$49.1552週高値NT$57.2052週安値NT$31.25ベータ0.441ヶ月の変化-9.98%3ヶ月変化30.37%1年変化52.17%3年間の変化69.93%5年間の変化35.68%IPOからの変化-8.01%最新ニュースValuation Update With 7 Day Price Move • Jun 04Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$54.60, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 20x in the Commercial Services industry in Taiwan. Total returns to shareholders of 96% over the past three years.Valuation Update With 7 Day Price Move • May 21Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$40.70, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 18x in the Commercial Services industry in Taiwan. Total returns to shareholders of 45% over the past three years.Reported Earnings • May 20First quarter 2026 earnings released: EPS: NT$1.23 (vs NT$0.92 in 1Q 2025)First quarter 2026 results: EPS: NT$1.23 (up from NT$0.92 in 1Q 2025). Revenue: NT$1.29b (up 10% from 1Q 2025). Net income: NT$222.0m (up 33% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 21Full year 2025 earnings released: EPS: NT$2.55 (vs NT$0.97 in FY 2024)Full year 2025 results: EPS: NT$2.55 (up from NT$0.97 in FY 2024). Revenue: NT$5.12b (up 51% from FY 2024). Net income: NT$461.9m (up 176% from FY 2024). Profit margin: 9.0% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 13Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 15, 2026Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 15, 2026. Location: b1 floor no,162, sung chiang rd., jhongshan district, taipei city TaiwanReported Earnings • Nov 17Third quarter 2025 earnings released: EPS: NT$0.54 (vs NT$0.008 loss in 3Q 2024)Third quarter 2025 results: EPS: NT$0.54 (up from NT$0.008 loss in 3Q 2024). Revenue: NT$1.48b (up 86% from 3Q 2024). Net income: NT$97.8m (up NT$99.3m from 3Q 2024). Profit margin: 6.6% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.最新情報をもっと見るRecent updatesValuation Update With 7 Day Price Move • Jun 04Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$54.60, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 20x in the Commercial Services industry in Taiwan. Total returns to shareholders of 96% over the past three years.Valuation Update With 7 Day Price Move • May 21Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$40.70, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 18x in the Commercial Services industry in Taiwan. Total returns to shareholders of 45% over the past three years.Reported Earnings • May 20First quarter 2026 earnings released: EPS: NT$1.23 (vs NT$0.92 in 1Q 2025)First quarter 2026 results: EPS: NT$1.23 (up from NT$0.92 in 1Q 2025). Revenue: NT$1.29b (up 10% from 1Q 2025). Net income: NT$222.0m (up 33% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 21Full year 2025 earnings released: EPS: NT$2.55 (vs NT$0.97 in FY 2024)Full year 2025 results: EPS: NT$2.55 (up from NT$0.97 in FY 2024). Revenue: NT$5.12b (up 51% from FY 2024). Net income: NT$461.9m (up 176% from FY 2024). Profit margin: 9.0% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 13Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 15, 2026Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 15, 2026. Location: b1 floor no,162, sung chiang rd., jhongshan district, taipei city TaiwanReported Earnings • Nov 17Third quarter 2025 earnings released: EPS: NT$0.54 (vs NT$0.008 loss in 3Q 2024)Third quarter 2025 results: EPS: NT$0.54 (up from NT$0.008 loss in 3Q 2024). Revenue: NT$1.48b (up 86% from 3Q 2024). Net income: NT$97.8m (up NT$99.3m from 3Q 2024). Profit margin: 6.6% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$0.59 (vs NT$0.20 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.59 (up from NT$0.20 in 2Q 2024). Revenue: NT$953.5m (up 42% from 2Q 2024). Net income: NT$106.7m (up 219% from 2Q 2024). Profit margin: 11% (up from 5.0% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jul 16Upcoming dividend of NT$0.72 per shareEligible shareholders must have bought the stock before 23 July 2025. Payment date: 13 August 2025. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (4.5%).Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.92 (vs NT$0.79 in 1Q 2024)First quarter 2025 results: EPS: NT$0.92 (up from NT$0.79 in 1Q 2024). Revenue: NT$1.17b (up 57% from 1Q 2024). Net income: NT$167.1m (up 30% from 1Q 2024). Profit margin: 14% (down from 17% 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 49% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.お知らせ • May 06Forest Water Environmental Engineering Co., Ltd. to Report Q1, 2025 Results on May 13, 2025Forest Water Environmental Engineering Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to NT$24.80, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 17x in the Commercial Services industry in Taiwan. Total loss to shareholders of 17% over the past three years.New Risk • Apr 07New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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 28% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Mar 27Full year 2024 earnings released: EPS: NT$0.97 (vs NT$0.26 in FY 2023)Full year 2024 results: EPS: NT$0.97 (up from NT$0.26 in FY 2023). Revenue: NT$3.39b (down 8.0% from FY 2023). Net income: NT$167.2m (up 321% from FY 2023). Profit margin: 4.9% (up from 1.1% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 14Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 26, 2025Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 26, 2025. Location: b1 floor no,162, sung chiang rd., jhongshan district, taipei city Taiwanお知らせ • Mar 06Forest Water Environmental Engineering Co., Ltd. to Report Q4, 2024 Results on Mar 13, 2025Forest Water Environmental Engineering Co., Ltd. announced that they will report Q4, 2024 results on Mar 13, 2025New Risk • Dec 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 22% 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 34% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (15% increase in shares outstanding).分析記事 • Nov 22We Think That There Are Some Issues For Forest Water Environmental Engineering (TWSE:8473) Beyond Its Promising EarningsForest Water Environmental Engineering Co., Ltd.'s ( TWSE:8473 ) stock didn't jump after it announced some healthy...Reported Earnings • Nov 19Third quarter 2024 earnings released: NT$0.01 loss per share (vs NT$0.24 profit in 3Q 2023)Third quarter 2024 results: NT$0.01 loss per share (down from NT$0.24 profit in 3Q 2023). Revenue: NT$797.7m (down 4.1% from 3Q 2023). Net loss: NT$1.45m (down 104% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year.お知らせ • Nov 05Forest Water Environmental Engineering Co., Ltd. to Report Q3, 2024 Results on Nov 12, 2024Forest Water Environmental Engineering Co., Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.21 (vs NT$0.08 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$0.21 (up from NT$0.08 loss in 2Q 2023). Revenue: NT$670.0m (down 36% from 2Q 2023). Net income: NT$33.4m (up NT$45.2m from 2Q 2023). Profit margin: 5.0% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.Valuation Update With 7 Day Price Move • Aug 06Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$40.40, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 27x in the Commercial Services industry in Taiwan. Total returns to shareholders of 16% over the past three years.お知らせ • Aug 02Forest Water Environmental Engineering Co., Ltd. to Report Q2, 2024 Results on Aug 09, 2024Forest Water Environmental Engineering Co., Ltd. announced that they will report Q2, 2024 results on Aug 09, 2024分析記事 • Jul 19Revenues Not Telling The Story For Forest Water Environmental Engineering Co., Ltd. (TWSE:8473) After Shares Rise 29%Forest Water Environmental Engineering Co., Ltd. ( TWSE:8473 ) shareholders would be excited to see that the share...Valuation Update With 7 Day Price Move • Jul 18Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$51.80, the stock trades at a trailing P/E ratio of 44.3x. Average trailing P/E is 29x in the Commercial Services industry in Taiwan. Total returns to shareholders of 47% over the past three years.分析記事 • Jun 18Slowing Rates Of Return At Forest Water Environmental Engineering (TWSE:8473) Leave Little Room For ExcitementIf we want to find a potential multi-bagger, often there are underlying trends that can provide clues. One common...New Risk • Jun 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 64% 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 48% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (11% increase in shares outstanding).Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.81 (vs NT$0.15 loss in 1Q 2023)First quarter 2024 results: EPS: NT$0.81 (up from NT$0.15 loss in 1Q 2023). Revenue: NT$745.1m (down 22% from 1Q 2023). Net income: NT$129.0m (up NT$150.3m from 1Q 2023). Profit margin: 17% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.お知らせ • May 05Forest Water Environmental Engineering Co., Ltd. to Report Q1, 2024 Results on May 13, 2024Forest Water Environmental Engineering Co., Ltd. announced that they will report Q1, 2024 results on May 13, 2024New Risk • Apr 22New 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 8.5% 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 (8.5% average weekly change). Earnings have declined by 54% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (9.1% increase in shares outstanding).分析記事 • Apr 05Concerns Surrounding Forest Water Environmental Engineering's (TWSE:8473) PerformanceThe recent earnings posted by Forest Water Environmental Engineering Co., Ltd. ( TWSE:8473 ) were solid, but the stock...Reported Earnings • Mar 31Full year 2023 earnings released: EPS: NT$0.27 (vs NT$1.89 loss in FY 2022)Full year 2023 results: EPS: NT$0.27 (up from NT$1.89 loss in FY 2022). Revenue: NT$3.68b (down 6.2% from FY 2022). Net income: NT$39.8m (up NT$312.8m from FY 2022). Profit margin: 1.1% (up from net loss in FY 2022). The move to profitability was 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 84 percentage points per year, which is a significant difference in performance.分析記事 • Mar 21Revenues Working Against Forest Water Environmental Engineering Co., Ltd.'s (TWSE:8473) Share PriceWhen you see that almost half of the companies in the Commercial Services industry in Taiwan have price-to-sales ratios...お知らせ • Mar 16Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 13, 2024Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 13, 2024. Location: B1.,No.162,Songjiang Rd.,Zhongshan Dist.,Taipei City,Taiwan(R.O.C.) Taipei City Taiwan Agenda: To consider 2023 business report; to consider Supervisor's review of the 2023 annual final accounting ledgers and statements; to consider Report on 2023 employees' and directors' remuneration; to consider Cause for convening the meeting; and to discuss other matters.New Risk • Feb 15New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings have declined by 54% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (9.1% increase in shares outstanding).お知らせ • Oct 19Forest Water Environmental Engineering Co., Ltd. announced a financing transactionForest Water Environmental Engineering Co., Ltd. announced a private placement to issue not less than 23,000,000 shares at an issue price no less than 80% of the reference price on October 17, 2023. The transaction has been approved by the shareholders of the company.Reported Earnings • Aug 19Second quarter 2023 earnings released: NT$0.08 loss per share (vs NT$0.13 profit in 2Q 2022)Second quarter 2023 results: NT$0.08 loss per share (down from NT$0.13 profit in 2Q 2022). Revenue: NT$1.05b (down 4.6% from 2Q 2022). Net loss: NT$11.8m (down 164% from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance.Reported Earnings • Nov 19Third quarter 2022 earnings released: NT$1.92 loss per share (vs NT$0.41 profit in 3Q 2021)Third quarter 2022 results: NT$1.92 loss per share (down from NT$0.41 profit in 3Q 2021). Revenue: NT$903.4m (up 11% from 3Q 2021). Net loss: NT$276.5m (down NT$335.1m from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 3 highly experienced directors. 3 independent directors (9 non-independent directors). Director Hai Feng Li was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.お知らせ • Nov 11Forest Water Environmental Engineering Co., Ltd. Appoints Lin Ming-Chih as Corporate Governance OfficerForest Water Environmental Engineering Co., Ltd. announced the appointment of Lin Ming-Chih, Parent company's Corporate Governance Officer and Stock Affairs Officer as Corporate governance officer. Effective date is November 10, 2022.Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$0.13 (vs NT$0.19 loss in 2Q 2021)Second quarter 2022 results: EPS: NT$0.13 (up from NT$0.19 loss in 2Q 2021). Revenue: NT$1.10b (up 27% from 2Q 2021). Net income: NT$18.5m (up NT$46.4m from 2Q 2021). Profit margin: 1.7% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Aug 04Upcoming dividend of NT$0.85 per shareEligible shareholders must have bought the stock before 11 August 2022. Payment date: 30 August 2022. Payout ratio is on the higher end at 91% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (5.0%).Reported Earnings • May 19First quarter 2022 earnings released: EPS: NT$0.59 (vs NT$1.01 in 1Q 2021)First quarter 2022 results: EPS: NT$0.59 (down from NT$1.01 in 1Q 2021). Revenue: NT$791.6m (down 33% from 1Q 2021). Net income: NT$85.3m (down 42% from 1Q 2021). Profit margin: 11% (down from 12% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 3 independent directors (9 non-independent directors). Director Hai Feng Li was the last director to join the board, commencing their role in 2014. 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 • Apr 03Full year 2021 earnings released: EPS: NT$1.36 (vs NT$1.07 in FY 2020)Full year 2021 results: EPS: NT$1.36 (up from NT$1.07 in FY 2020). Revenue: NT$3.96b (down 12% from FY 2020). Net income: NT$195.9m (up 26% from FY 2020). Profit margin: 4.9% (up from 3.5% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$0.41 (vs NT$0.19 in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$813.8m (down 20% from 3Q 2020). Net income: NT$58.6m (up 119% from 3Q 2020). Profit margin: 7.2% (up from 2.6% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 18Second quarter 2021 earnings released: NT$0.21 loss per share (vs NT$0.55 profit in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: NT$867.8m (down 26% from 2Q 2020). Net loss: NT$27.9m (down 137% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Aug 12Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 19 August 2021. Payment date: 08 September 2021. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (4.8%).Valuation Update With 7 Day Price Move • May 21Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$44.95, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 17x in the Commercial Services industry in Taiwan. Total loss to shareholders of 26% over the past three years.Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$1.08 (vs NT$0.93 in 1Q 2020)The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: NT$1.18b (up 7.6% from 1Q 2020). Net income: NT$145.8m (up 16% from 1Q 2020). Profit margin: 12% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 17% per year.Reported Earnings • Apr 01Full year 2020 earnings released: EPS NT$1.15 (vs NT$2.25 in FY 2019)The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: NT$4.49b (flat on FY 2019). Net income: NT$155.0m (down 49% from FY 2019). Profit margin: 3.5% (down from 6.9% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 17% per year.Is New 90 Day High Low • Mar 10New 90-day high: NT$43.10The company is up 2.0% from its price of NT$42.30 on 10 December 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Commercial Services industry, which is also up 2.0% over the same period.分析記事 • Feb 25Should You Buy Forest Water Environmental Engineering Co., Ltd. (TPE:8473) For Its Dividend?Is Forest Water Environmental Engineering Co., Ltd. ( TPE:8473 ) a good dividend stock? How can we tell? Dividend...分析記事 • Jan 21Is Forest Water Environmental Engineering (TPE:8473) Using Too Much Debt?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Is New 90 Day High Low • Jan 18New 90-day low: NT$39.70The company is down 11% from its price of NT$44.65 on 20 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 2.0% over the same period.分析記事 • Dec 16Forest Water Environmental Engineering Co., Ltd. (TPE:8473) Stock's On A Decline: Are Poor Fundamentals The Cause?Forest Water Environmental Engineering (TPE:8473) has had a rough month with its share price down 2.4%. To decide if...分析記事 • Nov 18Is Forest Water Environmental Engineering (TPE:8473) Likely To Turn Things Around?If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep...Reported Earnings • Nov 15Third quarter 2020 earnings released: EPS NT$0.20The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.02b (down 7.1% from 3Q 2019). Net income: NT$26.7m (down 62% from 3Q 2019). Profit margin: 2.6% (down from 6.5% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year and the company’s share price has also fallen by 10% per year.株主還元8473TW Commercial ServicesTW 市場7D2.2%4.3%5.1%1Y52.2%56.0%106.1%株主還元を見る業界別リターン: 8473過去 1 年間で56 % の収益を上げたTW Commercial Services業界を下回りました。リターン対市場: 8473は、過去 1 年間で106.1 % のリターンを上げたTW市場を下回りました。価格変動Is 8473's price volatile compared to industry and market?8473 volatility8473 Average Weekly Movement6.9%Commercial Services Industry Average Movement5.4%Market Average Movement6.4%10% most volatile stocks in TW Market12.1%10% least volatile stocks in TW Market2.6%安定した株価: 8473 、 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: 8473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2004n/aJen-Chieh Wumfw.com.tw森林水環境工程有限公司は台湾で環境エンジニアリング事業を行う。同社は下水処理場、リサイクルプラント、海水淡水化プラントなどの運営・管理に携わっている。また、海水淡水化エンジニアリング技術・設備の設計・建設・運営・メンテナンスサービス、家畜ふん尿、生ごみ、有機廃棄物のリサイクル・再利用のためのエンジニアリング技術・設備の設計・建設・運営・メンテナンスサービス、汚泥処理リサイクルエンジニアリング技術・設備、廃水リサイクルエンジニアリング・再生水技術・設備の設計・建設・運営統合サービスも提供している。また、土壌汚染調査・評価、オンサイト・オフサイト汚染修復、ブラウンフィールド開発、汚染土壌のオフサイト修復、廃棄物焼却炉底部スラグ処理も行っている。森林水環境工程有限公司は1993年に設立され、台湾の台北市に本社を置いている。フォレスト・ウォーター・エンバイロメンタル・エンジニアリングは、Ho Ching Enterprises Co.もっと見るForest Water Environmental Engineering Co., Ltd. 基礎のまとめForest Water Environmental Engineering の収益と売上を時価総額と比較するとどうか。8473 基礎統計学時価総額NT$8.91b収益（TTM）NT$516.84m売上高(TTM)NT$5.25b17.2xPER（株価収益率1.7xP/Sレシオ8473 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8473 損益計算書（TTM）収益NT$5.25b売上原価NT$3.95b売上総利益NT$1.30bその他の費用NT$779.96m収益NT$516.84m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）2.85グロス・マージン24.72%純利益率9.85%有利子負債／自己資本比率61.8%8473 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28%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2026/07/04 12:38終値2026/07/03 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この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、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。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Forest Water Environmental Engineering Co., Ltd. 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。2 アナリスト機関Jihong LaiCapital Securities CorporationZhilong YenMasterlink Securities Investment Advisory
Valuation Update With 7 Day Price Move • Jun 04Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$54.60, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 20x in the Commercial Services industry in Taiwan. Total returns to shareholders of 96% over the past three years.
Valuation Update With 7 Day Price Move • May 21Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$40.70, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 18x in the Commercial Services industry in Taiwan. Total returns to shareholders of 45% over the past three years.
Reported Earnings • May 20First quarter 2026 earnings released: EPS: NT$1.23 (vs NT$0.92 in 1Q 2025)First quarter 2026 results: EPS: NT$1.23 (up from NT$0.92 in 1Q 2025). Revenue: NT$1.29b (up 10% from 1Q 2025). Net income: NT$222.0m (up 33% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 21Full year 2025 earnings released: EPS: NT$2.55 (vs NT$0.97 in FY 2024)Full year 2025 results: EPS: NT$2.55 (up from NT$0.97 in FY 2024). Revenue: NT$5.12b (up 51% from FY 2024). Net income: NT$461.9m (up 176% from FY 2024). Profit margin: 9.0% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 13Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 15, 2026Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 15, 2026. Location: b1 floor no,162, sung chiang rd., jhongshan district, taipei city Taiwan
Reported Earnings • Nov 17Third quarter 2025 earnings released: EPS: NT$0.54 (vs NT$0.008 loss in 3Q 2024)Third quarter 2025 results: EPS: NT$0.54 (up from NT$0.008 loss in 3Q 2024). Revenue: NT$1.48b (up 86% from 3Q 2024). Net income: NT$97.8m (up NT$99.3m from 3Q 2024). Profit margin: 6.6% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jun 04Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$54.60, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 20x in the Commercial Services industry in Taiwan. Total returns to shareholders of 96% over the past three years.
Valuation Update With 7 Day Price Move • May 21Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$40.70, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 18x in the Commercial Services industry in Taiwan. Total returns to shareholders of 45% over the past three years.
Reported Earnings • May 20First quarter 2026 earnings released: EPS: NT$1.23 (vs NT$0.92 in 1Q 2025)First quarter 2026 results: EPS: NT$1.23 (up from NT$0.92 in 1Q 2025). Revenue: NT$1.29b (up 10% from 1Q 2025). Net income: NT$222.0m (up 33% from 1Q 2025). Profit margin: 17% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 21Full year 2025 earnings released: EPS: NT$2.55 (vs NT$0.97 in FY 2024)Full year 2025 results: EPS: NT$2.55 (up from NT$0.97 in FY 2024). Revenue: NT$5.12b (up 51% from FY 2024). Net income: NT$461.9m (up 176% from FY 2024). Profit margin: 9.0% (up from 4.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 13Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 15, 2026Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 15, 2026. Location: b1 floor no,162, sung chiang rd., jhongshan district, taipei city Taiwan
Reported Earnings • Nov 17Third quarter 2025 earnings released: EPS: NT$0.54 (vs NT$0.008 loss in 3Q 2024)Third quarter 2025 results: EPS: NT$0.54 (up from NT$0.008 loss in 3Q 2024). Revenue: NT$1.48b (up 86% from 3Q 2024). Net income: NT$97.8m (up NT$99.3m from 3Q 2024). Profit margin: 6.6% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 17Second quarter 2025 earnings released: EPS: NT$0.59 (vs NT$0.20 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.59 (up from NT$0.20 in 2Q 2024). Revenue: NT$953.5m (up 42% from 2Q 2024). Net income: NT$106.7m (up 219% from 2Q 2024). Profit margin: 11% (up from 5.0% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jul 16Upcoming dividend of NT$0.72 per shareEligible shareholders must have bought the stock before 23 July 2025. Payment date: 13 August 2025. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (4.5%).
Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$0.92 (vs NT$0.79 in 1Q 2024)First quarter 2025 results: EPS: NT$0.92 (up from NT$0.79 in 1Q 2024). Revenue: NT$1.17b (up 57% from 1Q 2024). Net income: NT$167.1m (up 30% from 1Q 2024). Profit margin: 14% (down from 17% 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 49% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.
お知らせ • May 06Forest Water Environmental Engineering Co., Ltd. to Report Q1, 2025 Results on May 13, 2025Forest Water Environmental Engineering Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025
Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to NT$24.80, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 17x in the Commercial Services industry in Taiwan. Total loss to shareholders of 17% over the past three years.
New Risk • Apr 07New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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 28% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Mar 27Full year 2024 earnings released: EPS: NT$0.97 (vs NT$0.26 in FY 2023)Full year 2024 results: EPS: NT$0.97 (up from NT$0.26 in FY 2023). Revenue: NT$3.39b (down 8.0% from FY 2023). Net income: NT$167.2m (up 321% from FY 2023). Profit margin: 4.9% (up from 1.1% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 14Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 26, 2025Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 26, 2025. Location: b1 floor no,162, sung chiang rd., jhongshan district, taipei city Taiwan
お知らせ • Mar 06Forest Water Environmental Engineering Co., Ltd. to Report Q4, 2024 Results on Mar 13, 2025Forest Water Environmental Engineering Co., Ltd. announced that they will report Q4, 2024 results on Mar 13, 2025
New Risk • Dec 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 22% 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 34% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (15% increase in shares outstanding).
分析記事 • Nov 22We Think That There Are Some Issues For Forest Water Environmental Engineering (TWSE:8473) Beyond Its Promising EarningsForest Water Environmental Engineering Co., Ltd.'s ( TWSE:8473 ) stock didn't jump after it announced some healthy...
Reported Earnings • Nov 19Third quarter 2024 earnings released: NT$0.01 loss per share (vs NT$0.24 profit in 3Q 2023)Third quarter 2024 results: NT$0.01 loss per share (down from NT$0.24 profit in 3Q 2023). Revenue: NT$797.7m (down 4.1% from 3Q 2023). Net loss: NT$1.45m (down 104% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year.
お知らせ • Nov 05Forest Water Environmental Engineering Co., Ltd. to Report Q3, 2024 Results on Nov 12, 2024Forest Water Environmental Engineering Co., Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.21 (vs NT$0.08 loss in 2Q 2023)Second quarter 2024 results: EPS: NT$0.21 (up from NT$0.08 loss in 2Q 2023). Revenue: NT$670.0m (down 36% from 2Q 2023). Net income: NT$33.4m (up NT$45.2m from 2Q 2023). Profit margin: 5.0% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
Valuation Update With 7 Day Price Move • Aug 06Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$40.40, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 27x in the Commercial Services industry in Taiwan. Total returns to shareholders of 16% over the past three years.
お知らせ • Aug 02Forest Water Environmental Engineering Co., Ltd. to Report Q2, 2024 Results on Aug 09, 2024Forest Water Environmental Engineering Co., Ltd. announced that they will report Q2, 2024 results on Aug 09, 2024
分析記事 • Jul 19Revenues Not Telling The Story For Forest Water Environmental Engineering Co., Ltd. (TWSE:8473) After Shares Rise 29%Forest Water Environmental Engineering Co., Ltd. ( TWSE:8473 ) shareholders would be excited to see that the share...
Valuation Update With 7 Day Price Move • Jul 18Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$51.80, the stock trades at a trailing P/E ratio of 44.3x. Average trailing P/E is 29x in the Commercial Services industry in Taiwan. Total returns to shareholders of 47% over the past three years.
分析記事 • Jun 18Slowing Rates Of Return At Forest Water Environmental Engineering (TWSE:8473) Leave Little Room For ExcitementIf we want to find a potential multi-bagger, often there are underlying trends that can provide clues. One common...
New Risk • Jun 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 64% 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 48% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (11% increase in shares outstanding).
Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.81 (vs NT$0.15 loss in 1Q 2023)First quarter 2024 results: EPS: NT$0.81 (up from NT$0.15 loss in 1Q 2023). Revenue: NT$745.1m (down 22% from 1Q 2023). Net income: NT$129.0m (up NT$150.3m from 1Q 2023). Profit margin: 17% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
お知らせ • May 05Forest Water Environmental Engineering Co., Ltd. to Report Q1, 2024 Results on May 13, 2024Forest Water Environmental Engineering Co., Ltd. announced that they will report Q1, 2024 results on May 13, 2024
New Risk • Apr 22New 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 8.5% 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 (8.5% average weekly change). Earnings have declined by 54% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (9.1% increase in shares outstanding).
分析記事 • Apr 05Concerns Surrounding Forest Water Environmental Engineering's (TWSE:8473) PerformanceThe recent earnings posted by Forest Water Environmental Engineering Co., Ltd. ( TWSE:8473 ) were solid, but the stock...
Reported Earnings • Mar 31Full year 2023 earnings released: EPS: NT$0.27 (vs NT$1.89 loss in FY 2022)Full year 2023 results: EPS: NT$0.27 (up from NT$1.89 loss in FY 2022). Revenue: NT$3.68b (down 6.2% from FY 2022). Net income: NT$39.8m (up NT$312.8m from FY 2022). Profit margin: 1.1% (up from net loss in FY 2022). The move to profitability was 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 84 percentage points per year, which is a significant difference in performance.
分析記事 • Mar 21Revenues Working Against Forest Water Environmental Engineering Co., Ltd.'s (TWSE:8473) Share PriceWhen you see that almost half of the companies in the Commercial Services industry in Taiwan have price-to-sales ratios...
お知らせ • Mar 16Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 13, 2024Forest Water Environmental Engineering Co., Ltd., Annual General Meeting, Jun 13, 2024. Location: B1.,No.162,Songjiang Rd.,Zhongshan Dist.,Taipei City,Taiwan(R.O.C.) Taipei City Taiwan Agenda: To consider 2023 business report; to consider Supervisor's review of the 2023 annual final accounting ledgers and statements; to consider Report on 2023 employees' and directors' remuneration; to consider Cause for convening the meeting; and to discuss other matters.
New Risk • Feb 15New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings have declined by 54% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (9.1% increase in shares outstanding).
お知らせ • Oct 19Forest Water Environmental Engineering Co., Ltd. announced a financing transactionForest Water Environmental Engineering Co., Ltd. announced a private placement to issue not less than 23,000,000 shares at an issue price no less than 80% of the reference price on October 17, 2023. The transaction has been approved by the shareholders of the company.
Reported Earnings • Aug 19Second quarter 2023 earnings released: NT$0.08 loss per share (vs NT$0.13 profit in 2Q 2022)Second quarter 2023 results: NT$0.08 loss per share (down from NT$0.13 profit in 2Q 2022). Revenue: NT$1.05b (down 4.6% from 2Q 2022). Net loss: NT$11.8m (down 164% from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance.
Reported Earnings • Nov 19Third quarter 2022 earnings released: NT$1.92 loss per share (vs NT$0.41 profit in 3Q 2021)Third quarter 2022 results: NT$1.92 loss per share (down from NT$0.41 profit in 3Q 2021). Revenue: NT$903.4m (up 11% from 3Q 2021). Net loss: NT$276.5m (down NT$335.1m from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
Board Change • Nov 16Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 3 highly experienced directors. 3 independent directors (9 non-independent directors). Director Hai Feng Li was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
お知らせ • Nov 11Forest Water Environmental Engineering Co., Ltd. Appoints Lin Ming-Chih as Corporate Governance OfficerForest Water Environmental Engineering Co., Ltd. announced the appointment of Lin Ming-Chih, Parent company's Corporate Governance Officer and Stock Affairs Officer as Corporate governance officer. Effective date is November 10, 2022.
Reported Earnings • Aug 15Second quarter 2022 earnings released: EPS: NT$0.13 (vs NT$0.19 loss in 2Q 2021)Second quarter 2022 results: EPS: NT$0.13 (up from NT$0.19 loss in 2Q 2021). Revenue: NT$1.10b (up 27% from 2Q 2021). Net income: NT$18.5m (up NT$46.4m from 2Q 2021). Profit margin: 1.7% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Aug 04Upcoming dividend of NT$0.85 per shareEligible shareholders must have bought the stock before 11 August 2022. Payment date: 30 August 2022. Payout ratio is on the higher end at 91% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Taiwanese dividend payers (6.7%). Lower than average of industry peers (5.0%).
Reported Earnings • May 19First quarter 2022 earnings released: EPS: NT$0.59 (vs NT$1.01 in 1Q 2021)First quarter 2022 results: EPS: NT$0.59 (down from NT$1.01 in 1Q 2021). Revenue: NT$791.6m (down 33% from 1Q 2021). Net income: NT$85.3m (down 42% from 1Q 2021). Profit margin: 11% (down from 12% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. 1 highly experienced director. 3 independent directors (9 non-independent directors). Director Hai Feng Li was the last director to join the board, commencing their role in 2014. 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 • Apr 03Full year 2021 earnings released: EPS: NT$1.36 (vs NT$1.07 in FY 2020)Full year 2021 results: EPS: NT$1.36 (up from NT$1.07 in FY 2020). Revenue: NT$3.96b (down 12% from FY 2020). Net income: NT$195.9m (up 26% from FY 2020). Profit margin: 4.9% (up from 3.5% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$0.41 (vs NT$0.19 in 3Q 2020)The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: NT$813.8m (down 20% from 3Q 2020). Net income: NT$58.6m (up 119% from 3Q 2020). Profit margin: 7.2% (up from 2.6% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 18Second quarter 2021 earnings released: NT$0.21 loss per share (vs NT$0.55 profit in 2Q 2020)The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: NT$867.8m (down 26% from 2Q 2020). Net loss: NT$27.9m (down 137% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Aug 12Upcoming dividend of NT$1.00 per shareEligible shareholders must have bought the stock before 19 August 2021. Payment date: 08 September 2021. Trailing yield: 2.6%. Lower than top quartile of Taiwanese dividend payers (5.1%). Lower than average of industry peers (4.8%).
Valuation Update With 7 Day Price Move • May 21Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$44.95, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 17x in the Commercial Services industry in Taiwan. Total loss to shareholders of 26% over the past three years.
Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$1.08 (vs NT$0.93 in 1Q 2020)The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: NT$1.18b (up 7.6% from 1Q 2020). Net income: NT$145.8m (up 16% from 1Q 2020). Profit margin: 12% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 17% per year.
Reported Earnings • Apr 01Full year 2020 earnings released: EPS NT$1.15 (vs NT$2.25 in FY 2019)The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: NT$4.49b (flat on FY 2019). Net income: NT$155.0m (down 49% from FY 2019). Profit margin: 3.5% (down from 6.9% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 17% per year.
Is New 90 Day High Low • Mar 10New 90-day high: NT$43.10The company is up 2.0% from its price of NT$42.30 on 10 December 2020. The Taiwanese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Commercial Services industry, which is also up 2.0% over the same period.
分析記事 • Feb 25Should You Buy Forest Water Environmental Engineering Co., Ltd. (TPE:8473) For Its Dividend?Is Forest Water Environmental Engineering Co., Ltd. ( TPE:8473 ) a good dividend stock? How can we tell? Dividend...
分析記事 • Jan 21Is Forest Water Environmental Engineering (TPE:8473) Using Too Much Debt?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Is New 90 Day High Low • Jan 18New 90-day low: NT$39.70The company is down 11% from its price of NT$44.65 on 20 October 2020. The Taiwanese market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 2.0% over the same period.
分析記事 • Dec 16Forest Water Environmental Engineering Co., Ltd. (TPE:8473) Stock's On A Decline: Are Poor Fundamentals The Cause?Forest Water Environmental Engineering (TPE:8473) has had a rough month with its share price down 2.4%. To decide if...
分析記事 • Nov 18Is Forest Water Environmental Engineering (TPE:8473) Likely To Turn Things Around?If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep...
Reported Earnings • Nov 15Third quarter 2020 earnings released: EPS NT$0.20The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$1.02b (down 7.1% from 3Q 2019). Net income: NT$26.7m (down 62% from 3Q 2019). Profit margin: 2.6% (down from 6.5% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year and the company’s share price has also fallen by 10% per year.
