View Future GrowthMerry Electronics 過去の業績過去 基準チェック /16Merry Electronicsは、平均年間7%の収益成長を遂げていますが、 Consumer Durables業界の収益は、年間 成長しています。収益は、平均年間3% 6%収益成長率で 成長しています。 Merry Electronicsの自己資本利益率は9.7%であり、純利益率は2.6%です。主要情報6.97%収益成長率3.69%EPS成長率Consumer Durables 業界の成長6.66%収益成長率5.96%株主資本利益率9.71%ネット・マージン2.55%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • May 01First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2026 results: EPS: NT$1.00 (down from NT$1.42 in 1Q 2025). Revenue: NT$11.0b (up 24% from 1Q 2025). Net income: NT$257.8m (down 27% from 1Q 2025). Profit margin: 2.3% (down from 4.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat.Reported Earnings • Feb 26Full year 2025 earnings released: EPS: NT$5.36 (vs NT$9.26 in FY 2024)Full year 2025 results: EPS: NT$5.36 (down from NT$9.26 in FY 2024). Revenue: NT$46.5b (up 6.0% from FY 2024). Net income: NT$1.34b (down 38% from FY 2024). Profit margin: 2.9% (down from 4.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year.Reported Earnings • Nov 01Third quarter 2025 earnings: EPS and revenues exceed analyst expectationsThird quarter 2025 results: EPS: NT$2.33 (down from NT$2.59 in 3Q 2024). Revenue: NT$13.1b (up 2.1% from 3Q 2024). Net income: NT$582.6m (down 7.0% from 3Q 2024). Profit margin: 4.4% (down from 4.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year.Reported Earnings • Jul 26Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: NT$0.011 (down from NT$2.24 in 2Q 2024). Revenue: NT$10.3b (flat on 2Q 2024). Net income: NT$2.62m (down 100% from 2Q 2024). Profit margin: 0% (down from 4.8% in 2Q 2024). Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 99%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 12% per year.お知らせ • Apr 17Merry Electronics Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025Merry Electronics Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025分析記事 • Mar 06Additional Considerations Required While Assessing Merry Electronics' (TWSE:2439) Strong EarningsMerry Electronics Co., Ltd.'s ( TWSE:2439 ) robust earnings report didn't manage to move the market for its stock. Our...すべての更新を表示Recent updatesReported Earnings • May 01First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2026 results: EPS: NT$1.00 (down from NT$1.42 in 1Q 2025). Revenue: NT$11.0b (up 24% from 1Q 2025). Net income: NT$257.8m (down 27% from 1Q 2025). Profit margin: 2.3% (down from 4.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat.Price Target Changed • Mar 05Price target decreased by 7.1% to NT$114Down from NT$123, the current price target is an average from 2 analysts. New target price is 39% above last closing price of NT$82.10. Stock is down 33% over the past year. The company is forecast to post earnings per share of NT$7.46 for next year compared to NT$5.36 last year.Valuation Update With 7 Day Price Move • Mar 04Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$82.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Consumer Durables industry in Asia. Total returns to shareholders of 8.3% over the past three years.Reported Earnings • Feb 26Full year 2025 earnings released: EPS: NT$5.36 (vs NT$9.26 in FY 2024)Full year 2025 results: EPS: NT$5.36 (down from NT$9.26 in FY 2024). Revenue: NT$46.5b (up 6.0% from FY 2024). Net income: NT$1.34b (down 38% from FY 2024). Profit margin: 2.9% (down from 4.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year.お知らせ • Feb 26Merry Electronics Co., Ltd., Annual General Meeting, May 26, 2026Merry Electronics Co., Ltd., Annual General Meeting, May 26, 2026. Location: no,22, kung yeh ou rd., nan tun district, taichung city TaiwanMajor Estimate Revision • Nov 06Consensus EPS estimates increase by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$43.7b to NT$45.2b. EPS estimate increased from NT$5.01 to NT$5.84 per share. Net income forecast to grow 13% next year vs 26% growth forecast for Consumer Durables industry in Taiwan. Consensus price target of NT$124 unchanged from last update. Share price rose 5.8% to NT$109 over the past week.Reported Earnings • Nov 01Third quarter 2025 earnings: EPS and revenues exceed analyst expectationsThird quarter 2025 results: EPS: NT$2.33 (down from NT$2.59 in 3Q 2024). Revenue: NT$13.1b (up 2.1% from 3Q 2024). Net income: NT$582.6m (down 7.0% from 3Q 2024). Profit margin: 4.4% (down from 4.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year.Upcoming Dividend • Aug 21Upcoming dividend of NT$7.29 per shareEligible shareholders must have bought the stock before 28 August 2025. Payment date: 26 September 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.3%).Major Estimate Revision • Jul 30Consensus EPS estimates fall by 27%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$44.5b to NT$43.8b. EPS estimate also fell from NT$6.80 per share to NT$4.94 per share. Net income forecast to shrink 4.4% next year vs 20% growth forecast for Consumer Durables industry in Taiwan . Consensus price target of NT$128 unchanged from last update. Share price fell 6.3% to NT$112 over the past week.New Risk • Jul 27New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 110% The company is paying a dividend despite having no free cash flows. Dividend yield: 6.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.Reported Earnings • Jul 26Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: NT$0.011 (down from NT$2.24 in 2Q 2024). Revenue: NT$10.3b (flat on 2Q 2024). Net income: NT$2.62m (down 100% from 2Q 2024). Profit margin: 0% (down from 4.8% in 2Q 2024). Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 99%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 12% per year.Major Estimate Revision • Jul 09Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$45.2b to NT$44.5b. EPS estimate also fell from NT$8.18 per share to NT$6.80 per share. Net income forecast to shrink 13% next year vs 18% growth forecast for Consumer Durables industry in Taiwan . Consensus price target of NT$128 unchanged from last update. Share price fell 3.1% to NT$111 over the past week.New Risk • Jul 08New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.5% per year for the foreseeable future. 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 profits are expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 1.5% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (169% cash payout ratio).Price Target Changed • May 04Price target increased by 8.3% to NT$131Up from NT$121, the current price target is an average from 3 analysts. New target price is 15% above last closing price of NT$114. Stock is down 6.6% over the past year. The company is forecast to post earnings per share of NT$8.68 for next year compared to NT$9.26 last year.お知らせ • Apr 17Merry Electronics Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025Merry Electronics Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$103, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$51.64 per share.お知らせ • Mar 18Merry Electronics Co., Ltd. (TWSE:2439) agreed to acquire MWT Holdings CO., Ltd from J-Star No. 3 Investment Limited Partnership, J-Star No.3 Jf, LP, J-Star No.3 Jc, LP, J-Star No.3 Gf, LP, J-STAR LLP 2016 managed by J-STAR Co., Ltd. for ¥10.3 billion.Merry Electronics Co., Ltd. (TWSE:2439) agreed to acquire MWT Holdings CO., Ltd from J-Star No. 3 Investment Limited Partnership, J-Star No.3 Jf, LP, J-Star No.3 Jc, LP, J-Star No.3 Gf, LP, J-STAR LLP 2016 managed by J-STAR Co., Ltd. for ¥10.3 billion on March 17, 2025. A cash consideration of ¥10.28 billion will be paid by Merry Electronics Co., Ltd. As part of consideration, ¥10.28 billion is paid towards common equity of MWT Holdings CO., Ltd. The transaction is subject to approval by regulatory board / committee and approval of offer by acquirer board.分析記事 • Mar 06Additional Considerations Required While Assessing Merry Electronics' (TWSE:2439) Strong EarningsMerry Electronics Co., Ltd.'s ( TWSE:2439 ) robust earnings report didn't manage to move the market for its stock. Our...Reported Earnings • Feb 28Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: NT$9.26 (up from NT$6.16 in FY 2023). Revenue: NT$43.9b (up 20% from FY 2023). Net income: NT$2.14b (up 62% from FY 2023). Profit margin: 4.9% (up from 3.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.4%. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Consumer Durables industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year.お知らせ • Feb 27Merry Electronics Co., Ltd., Annual General Meeting, May 26, 2025Merry Electronics Co., Ltd., Annual General Meeting, May 26, 2025. Location: no,22, kung yeh ou rd., nan tun district, taichung city Taiwanお知らせ • Feb 19Merry Electronics Co., Ltd. to Report Q4, 2024 Results on Feb 26, 2025Merry Electronics Co., Ltd. announced that they will report Q4, 2024 results on Feb 26, 2025Reported Earnings • Oct 26Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2024 results: EPS: NT$2.59 (up from NT$1.97 in 3Q 2023). Revenue: NT$12.9b (up 36% from 3Q 2023). Net income: NT$626.4m (up 49% from 3Q 2023). Profit margin: 4.9% (up from 4.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 5.1%. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Consumer Durables industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year.お知らせ • Oct 17Merry Electronics Co., Ltd. to Report Q3, 2024 Results on Oct 24, 2024Merry Electronics Co., Ltd. announced that they will report Q3, 2024 results on Oct 24, 2024Buy Or Sell Opportunity • Sep 23Now 23% overvaluedThe stock has been flat over the last 90 days, currently trading at NT$133. The fair value is estimated to be NT$108, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 9.1%. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 26% in the next year.分析記事 • Aug 27Merry Electronics' (TWSE:2439) Shareholders Will Receive A Smaller Dividend Than Last YearMerry Electronics Co., Ltd. ( TWSE:2439 ) is reducing its dividend from last year's comparable payment to NT$4.15 on...Buy Or Sell Opportunity • Aug 16Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 11% to NT$137. The fair value is estimated to be NT$111, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 9.1%. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 26% in the next year.分析記事 • Aug 12Merry Electronics (TWSE:2439) Has Announced That It Will Be Increasing Its Dividend To NT$4.70Merry Electronics Co., Ltd. ( TWSE:2439 ) has announced that it will be increasing its dividend from last year's...分析記事 • Aug 03We Think That There Are Issues Underlying Merry Electronics' (TWSE:2439) EarningsLast week's profit announcement from Merry Electronics Co., Ltd. ( TWSE:2439 ) was underwhelming for investors, despite...分析記事 • Jul 29Merry Electronics (TWSE:2439) Is Increasing Its Dividend To NT$4.70The board of Merry Electronics Co., Ltd. ( TWSE:2439 ) has announced that it will be paying its dividend of NT$4.70 on...Declared Dividend • Jul 27Dividend increased to NT$4.70Dividend of NT$4.70 is 5.1% higher than last year. Ex-date: 30th August 2024 Payment date: 25th September 2024 Dividend yield will be 3.8%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 4.2% over the next year, which should provide support to the dividend and adequate earnings cover.お知らせ • Jul 26Merry Electronics Co., Ltd. Announces Cash Dividend, Payable on September 25, 2024Merry Electronics Co., Ltd. announced distribution of cash dividend of TWD 1,030,914,177 to shareholders (equals to TWD 4.7 per share). Ex-rights (ex-dividend) trading date is August 30, 2024. Ex-rights (ex-dividend) record date is September 07, 2024; Payment date of common stock cash dividend distribution is September 25, 2024.お知らせ • Jul 18Merry Electronics Co., Ltd. to Report Q2, 2024 Results on Jul 25, 2024Merry Electronics Co., Ltd. announced that they will report Q2, 2024 results on Jul 25, 2024Reported Earnings • Apr 27First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: NT$1.70 (up from NT$0.26 in 1Q 2023). Revenue: NT$8.35b (up 17% from 1Q 2023). Net income: NT$365.1m (up NT$309.1m from 1Q 2023). Profit margin: 4.4% (up from 0.8% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 39%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.お知らせ • Apr 27Merry Electronics Co., Ltd. announced that it expects to receive TWD 3.05 billion in fundingMerry Electronics Co., Ltd. announced a private placement of 5,000,000 common shares at a price of TWD 10 per share for the gross proceeds of TWD 50,000,000 and series 4 unsecured corporate convertible bonds for the gross proceeds of TWD 2,500,000,000 and series 5 unsecured corporate convertible bonds for the gross proceeds of TWD 500,000,000; for total gross proceeds of TWD 3,050,000,000 on April 25, 2024. The transaction has been approved by the shareholders of the company.お知らせ • Apr 20Merry Electronics Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024Merry Electronics Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024分析記事 • Apr 17Is Merry Electronics (TWSE:2439) A Risky Investment?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Major Estimate Revision • Mar 01Consensus EPS estimates increase by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$37.6b to NT$41.2b. EPS estimate increased from NT$6.63 to NT$7.52 per share. Net income forecast to grow 24% next year vs 22% growth forecast for Consumer Durables industry in Taiwan. Consensus price target up from NT$94.67 to NT$126. Share price rose 6.4% to NT$116 over the past week.Reported Earnings • Feb 25Full year 2023 earnings released: EPS: NT$6.16 (vs NT$6.81 in FY 2022)Full year 2023 results: EPS: NT$6.16 (down from NT$6.81 in FY 2022). Revenue: NT$36.7b (up 3.6% from FY 2022). Net income: NT$1.32b (down 9.3% from FY 2022). Profit margin: 3.6% (down from 4.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Consumer Durables industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.Price Target Changed • Nov 08Price target increased by 9.6% to NT$91.33Up from NT$83.33, the current price target is an average from 3 analysts. New target price is 9.6% below last closing price of NT$101. Stock is up 19% over the past year. The company is forecast to post earnings per share of NT$6.40 for next year compared to NT$6.81 last year.Major Estimate Revision • Nov 04Consensus EPS estimates increase by 21%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from NT$34.5b to NT$35.5b. EPS estimate increased from NT$5.29 to NT$6.42 per share. Net income forecast to grow 5.8% next year vs 20% growth forecast for Consumer Durables industry in Taiwan. Consensus price target up from NT$83.33 to NT$88.33. Share price rose 3.5% to NT$92.10 over the past week.Reported Earnings • Oct 28Third quarter 2023 earnings: EPS and revenues exceed analyst expectationsThird quarter 2023 results: EPS: NT$1.97 (down from NT$2.74 in 3Q 2022). Revenue: NT$9.45b (down 14% from 3Q 2022). Net income: NT$421.7m (down 28% from 3Q 2022). Profit margin: 4.5% (down from 5.3% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Consumer Durables industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.New Risk • Oct 02New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 5.4% per year for the foreseeable future. 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 profits are expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Upcoming Dividend • Aug 24Upcoming dividend of NT$4.47 per share at 4.9% yieldEligible shareholders must have bought the stock before 31 August 2023. Payment date: 22 September 2023. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (4.4%).Reported Earnings • Jul 29Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: NT$1.69 (down from NT$1.84 in 2Q 2022). Revenue: NT$8.36b (up 4.4% from 2Q 2022). Net income: NT$362.6m (down 7.7% from 2Q 2022). Profit margin: 4.3% (down from 4.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 45%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings.お知らせ • Jul 28Merry Electronics Co., Ltd. Announces Ex-Dividend, Payable on September 22, 2023Merry Electronics Co., Ltd. announced Distribution of cash dividend TWD 981,234,639 to shareholders (equals to TWD 4.5 per share). Ex-rights (ex-dividend) record date: September 8, 2023. Payment date of cash dividend distribution: September 22, 2023. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: July 27, 2023.お知らせ • Jun 15Merry Electronics Co., Ltd. Approves the Cash Dividend of 2022Merry Electronics Co., Ltd. at shareholders meeting on June 14, 2023 the company approved the Proposal for the Distribution of 2022 profits with cash dividend TWD 981,234,639 to shareholders (equals to TWD 4.5 per share).Reported Earnings • May 02First quarter 2023 earnings: EPS and revenues miss analyst expectationsFirst quarter 2023 results: EPS: NT$0.26 (down from NT$0.52 in 1Q 2022). Revenue: NT$7.13b (up 19% from 1Q 2022). Net income: NT$56.0m (down 49% from 1Q 2022). Profit margin: 0.8% (down from 1.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 40%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 13% per year.Price Target Changed • Mar 10Price target increased by 12% to NT$103Up from NT$92.00, the current price target is an average from 5 analysts. New target price is 20% above last closing price of NT$86.40. Stock is up 7.1% over the past year. The company is forecast to post earnings per share of NT$6.35 for next year compared to NT$6.81 last year.Reported Earnings • Feb 26Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: NT$6.81 (up from NT$5.40 in FY 2021). Revenue: NT$35.4b (down 2.2% from FY 2021). Net income: NT$1.46b (up 29% from FY 2021). Profit margin: 4.1% (up from 3.1% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Consumer Durables industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 15% per year.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Chang-Yun I was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Price Target Changed • Nov 02Price target decreased to NT$92.33Down from NT$103, the current price target is an average from 6 analysts. New target price is 15% above last closing price of NT$80.20. Stock is down 16% over the past year. The company is forecast to post earnings per share of NT$7.41 for next year compared to NT$5.40 last year.Reported Earnings • Oct 29Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beatThird quarter 2022 results: EPS: NT$2.74 (up from NT$2.20 in 3Q 2021). Revenue: NT$11.1b (up 31% from 3Q 2021). Net income: NT$586.3m (up 28% from 3Q 2021). Profit margin: 5.3% (down from 5.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Aug 18Upcoming dividend of NT$3.97 per shareEligible shareholders must have bought the stock before 25 August 2022. Payment date: 22 September 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (6.4%). In line with average of industry peers (4.7%).お知らせ • Aug 11Merry Electronics Co., Ltd. Announces Dividend Rate Adjustment for 2021Merry Electronics Co., Ltd. announced the Dividend Rate Adjustment for 2021. Type and monetary amount of original dividend distribution: Cash dividend of common shares amounting to TWD 866,040,168, equal to TWD 4.0 per share. Type and monetary amount of dividend distribution after the change: Cash dividend of common shares amounting to TWD 866,040,168, equal to TWD 3.97082633 per share.Reported Earnings • Jul 30Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2022 results: EPS: NT$1.84 (up from NT$0.54 in 2Q 2021). Revenue: NT$8.00b (down 2.0% from 2Q 2021). Net income: NT$392.6m (up 253% from 2Q 2021). Profit margin: 4.9% (up from 1.4% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 28%. Over the next year, revenue is forecast to grow 8.8%, compared to a 9.0% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings.お知らせ • Jul 29Merry Electronics Co., Ltd. Announces Cash Dividend for 2021Merry Electronics Co., Ltd. announced distribution of cash dividend TWD 866,040,168 to shareholders (equals to TWD 4.0 per share). Ex-rights (ex-dividend) record date: August 31, 2022. Ex-rights (ex-dividend) trading date: August 25, 2022.お知らせ • Jun 16Merry Electronics Co., Ltd. Approves Cash Dividend for 2021Merry Electronics Co., Ltd. announced that at its shareholders meeting held on June 15, 2022, approved the proposal for the distribution of 2021 profits with cash dividend TWD 866,040,168 to shareholders (equals to TWD 4.0 per share).Reported Earnings • May 02First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: NT$0.52 (up from NT$0.10 in 1Q 2021). Revenue: NT$6.02b (down 22% from 1Q 2021). Net income: NT$110.3m (up 427% from 1Q 2021). Profit margin: 1.8% (up from 0.3% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 267%. Over the next year, revenue is forecast to grow 15%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.Price Target Changed • Apr 27Price target increased to NT$105Up from NT$94.00, the current price target is an average from 6 analysts. New target price is 30% above last closing price of NT$80.40. Stock is down 36% over the past year. The company is forecast to post earnings per share of NT$6.81 for next year compared to NT$5.40 last year.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director Harvey Wu was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Major Estimate Revision • Mar 04Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$7.82 to NT$6.97 per share. Revenue forecast steady at NT$39.6b. Net income forecast to grow 37% next year vs 19% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$95.29 to NT$106. Share price was steady at NT$83.00 over the past week.Price Target Changed • Mar 01Price target increased to NT$105Up from NT$95.29, the current price target is an average from 5 analysts. New target price is 27% above last closing price of NT$82.50. Stock is down 41% over the past year. The company is forecast to post earnings per share of NT$6.79 for next year compared to NT$5.40 last year.Reported Earnings • Feb 27Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: NT$5.40 (down from NT$6.39 in FY 2020). Revenue: NT$36.2b (up 5.0% from FY 2020). Net income: NT$1.13b (down 15% from FY 2020). Profit margin: 3.1% (down from 3.8% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 9.0%, compared to a 9.3% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings.お知らせ • Feb 26Merry Electronics Co., Ltd., Annual General Meeting, Jun 15, 2022Merry Electronics Co., Ltd., Annual General Meeting, Jun 15, 2022. Location: Merry Corporation No. 22, 23rd Road Taichung Industrial Park Taichung Taiwan Agenda: To report the business report of 2021; to report the Audit Committees review report on the financial statements of 2021; to report the compensation to employees and remuneration to directors of 2021; to report the earnings distribution of 2021; to report on the connection and reasonableness between the contents and amounts of remuneration to directors and managerial officers and performance assessments results of directors and managerial officers; to report on the offering of the third domestic unsecured convertible bonds; to report the amendment of the Corporate Social Responsibility Best Practice Principles; and to transact other matters.Price Target Changed • Nov 03Price target decreased to NT$111Down from NT$119, the current price target is an average from 6 analysts. New target price is 16% above last closing price of NT$95.00. Stock is down 32% over the past year. The company is forecast to post earnings per share of NT$6.26 for next year compared to NT$6.39 last year.Price Target Changed • Nov 01Price target decreased to NT$118Down from NT$128, the current price target is an average from 5 analysts. New target price is 30% above last closing price of NT$90.40. Stock is down 35% over the past year. The company is forecast to post earnings per share of NT$5.78 for next year compared to NT$6.39 last year.Reported Earnings • Oct 31Third quarter 2021 earnings released: EPS NT$2.20 (vs NT$1.90 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$8.46b (down 17% from 3Q 2020). Net income: NT$457.6m (up 16% from 3Q 2020). Profit margin: 5.4% (up from 3.9% 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 36% 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.Price Target Changed • Oct 13Price target decreased to NT$119Down from NT$128, the current price target is an average from 6 analysts. New target price is 45% above last closing price of NT$82.00. Stock is down 46% over the past year.Upcoming Dividend • Aug 18Upcoming dividend of NT$5.07 per shareEligible shareholders must have bought the stock before 25 August 2021. Payment date: 17 September 2021. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.3%).Major Estimate Revision • Aug 06Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 EPS estimate fell from NT$6.91 to NT$6.05 per share. Revenue forecast steady at NT$38.0b. Net income forecast to grow 42% next year vs 23% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$130 to NT$127. Share price was steady at NT$111 over the past week.Reported Earnings • Jul 30Second quarter 2021 earnings released: EPS NT$0.54 (vs NT$1.47 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$8.17b (up 27% from 2Q 2020). Net income: NT$111.2m (down 63% from 2Q 2020). Profit margin: 1.4% (down from 4.7% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.Major Estimate Revision • Jun 11Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 EPS estimate fell from NT$7.87 to NT$6.99 per share. Revenue forecast steady at NT$38.1b. Net income forecast to grow 23% next year vs 20% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$136 to NT$130. Share price was steady at NT$108 over the past week.Price Target Changed • May 09Price target decreased to NT$144Down from NT$160, the current price target is an average from 6 analysts. New target price is 32% above last closing price of NT$109. Stock is down 18% over the past year.Major Estimate Revision • May 08Consensus EPS estimates fall to NT$8.38The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from NT$40.0b to NT$38.4b. EPS estimate also fell from NT$10.03 to NT$8.38. Net income forecast to grow 47% next year vs 26% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$160 to NT$149. Share price fell 14% to NT$109 over the past week.Reported Earnings • May 02First quarter 2021 earnings released: EPS NT$0.10 (vs NT$0.23 in 1Q 2020)The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: NT$7.73b (up 49% from 1Q 2020). Net income: NT$20.9m (down 56% from 1Q 2020). Profit margin: 0.3% (down from 0.9% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.分析記事 • Apr 25Are Investors Undervaluing Merry Electronics Co., Ltd. (TPE:2439) By 25%?In this article we are going to estimate the intrinsic value of Merry Electronics Co., Ltd. ( TPE:2439 ) by taking the...分析記事 • Apr 12Does Merry Electronics (TPE:2439) Have A Healthy Balance Sheet?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...分析記事 • Mar 17Merry Electronics (TPE:2439) Has Gifted Shareholders With A Fantastic 219% Total Return On Their InvestmentWhen you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose...Major Estimate Revision • Mar 05Analysts update estimatesThe 2021 consensus earning per share (EPS) estimate was lowered from NT$10.90 to NT$9.44. Revenue estimate was approximately flat at NT$39.6b. Net income is expected to grow by 54% next year compared to 27% growth forecast for the Electronic industry in Taiwan. The consensus price target was lowered from NT$165 to NT$159. Share price is down by 1.5% to NT$135 over the past week.分析記事 • Mar 04Key Things To Consider Before Buying Merry Electronics Co., Ltd. (TPE:2439) For Its DividendCould Merry Electronics Co., Ltd. ( TPE:2439 ) be an attractive dividend share to own for the long haul? Investors are...Analyst Estimate Surprise Post Earnings • Feb 27Revenue and earnings miss expectationsRevenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 26%. Over the next year, revenue is forecast to grow 13%, compared to a 16% growth forecast for the Electronic industry in Taiwan.お知らせ • Feb 26Merry Electronics Co., Ltd., Annual General Meeting, Jun 15, 2021Merry Electronics Co., Ltd., Annual General Meeting, Jun 15, 2021. Location: Merry Corporation No. 22, 23rd Road Taichung Industrial Park, Taichung Taichung Taiwan Agenda: To consider report the business report of 2020; to consider report the Audit Committee’s review report on the financial statements of 2020; to consider report the compensation to employees and remuneration to directors of 2020; to consider report the earnings distribution of 2020; to consider report on the connection and reasonableness between the contents and amounts of remuneration to directors and managerial officers and performance assessments results of directors and managerial officers; to consider report the amendment of the Corporate Social Responsibility Best Practice Principles; and to consider any other matter.Reported Earnings • Feb 26Full year 2020 earnings released: EPS NT$6.39 (vs NT$12.51 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$34.4b (down 5.4% from FY 2019). Net income: NT$1.32b (down 48% from FY 2019). Profit margin: 3.8% (down from 7.0% in FY 2019). The decrease in margin was driven by lower revenue. 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 7% per year, which means it has not declined as severely as earnings.分析記事 • Feb 19Why Merry Electronics Co., Ltd. (TPE:2439) Could Be Worth WatchingMerry Electronics Co., Ltd. ( TPE:2439 ), might not be a large cap stock, but it saw significant share price movement...分析記事 • Feb 06The Trends At Merry Electronics (TPE:2439) That You Should Know AboutFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Is New 90 Day High Low • Feb 02New 90-day low: NT$133The company is down 5.0% from its price of NT$140 on 04 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$218 per share.分析記事 • Jan 24Is There An Opportunity With Merry Electronics Co., Ltd.'s (TPE:2439) 38% Undervaluation?Today we will run through one way of estimating the intrinsic value of Merry Electronics Co., Ltd. ( TPE:2439 ) by...Is New 90 Day High Low • Jan 15New 90-day low: NT$136The company is down 11% from its price of NT$153 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 29% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$219 per share.分析記事 • Jan 10Does Merry Electronics (TPE:2439) Have A Healthy Balance Sheet?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...分析記事 • Dec 28Merry Electronics Co., Ltd.'s (TPE:2439) Stock Has Fared Decently: Is the Market Following Strong Financials?Merry Electronics' (TPE:2439) stock is up by 5.0% over the past month. Since the market usually pay for a company’s...分析記事 • Dec 15Merry Electronics (TPE:2439) Has Gifted Shareholders With A Fantastic 220% Total Return On Their InvestmentThe worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...分析記事 • Dec 02Are Dividend Investors Making A Mistake With Merry Electronics Co., Ltd. (TPE:2439)?Dividend paying stocks like Merry Electronics Co., Ltd. ( TPE:2439 ) tend to be popular with investors, and for good...分析記事 • Nov 18Is Now The Time To Look At Buying Merry Electronics Co., Ltd. (TPE:2439)?Merry Electronics Co., Ltd. (TPE:2439), might not be a large cap stock, but it received a lot of attention from a...Major Estimate Revision • Nov 05Analysts update estimatesThe 2020 consensus revenue estimate increased from NT$33.4b to NT$35.3b. Earnings per share (EPS) estimate was lowered from NT$9.91 to NT$8.13 for the same period. Net income is expected to grow by 83% next year compared to 22% growth forecast for the Electronic industry in Taiwan. The consensus price target was lowered from NT$173 to NT$163. Share price is down by 3.1% to NT$141 over the past week.Is New 90 Day High Low • Oct 30New 90-day low: NT$141The company is down 11% from its price of NT$159 on 31 July 2020. The Taiwanese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$173 per share.収支内訳Merry Electronics の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史TWSE:2439 収益、費用、利益 ( )TWD Millions日付収益収益G+A経費研究開発費31 Mar 2648,6041,2411,8842,37931 Dec 2546,4911,3371,8092,35330 Sep 2544,6591,5991,8882,36630 Jun 2544,3921,6431,8242,30431 Mar 2544,3602,1321,8612,24731 Dec 2443,8552,1431,8442,14330 Sep 2443,2521,9631,7422,09530 Jun 2439,8511,7581,7282,05231 Mar 2437,9131,6291,6582,02531 Dec 2336,6901,3201,6391,96530 Sep 2335,2671,2061,6011,83530 Jun 2336,8631,3711,6501,83831 Mar 2336,5111,4011,5641,80131 Dec 2235,3991,4551,6791,80130 Sep 2236,8891,6281,6371,69230 Jun 2234,3021,4991,5871,62531 Mar 2234,4661,2181,6781,64431 Dec 2136,1831,1281,5771,69930 Sep 2137,0541,1681,6501,89530 Jun 2138,7261,1041,6131,93631 Mar 2137,0031,2951,5731,86331 Dec 2034,4451,3221,4731,70530 Sep 2030,3591,2101,3631,52430 Jun 2030,3241,7071,3601,36631 Mar 2033,9432,1801,4461,30831 Dec 1936,3982,5491,4991,30530 Sep 1941,1863,3261,5761,31230 Jun 1942,1223,2541,6151,28631 Mar 1938,7672,5511,4301,19131 Dec 1835,4952,0641,3191,10330 Sep 1832,4162,9681,3331,07530 Jun 1827,8632,7651,1731,01831 Mar 1826,5233,2321,17097731 Dec 1726,6793,6221,16991930 Sep 1722,4092,21298775930 Jun 1720,8572,5131,01773431 Mar 1719,1642,2921,02072931 Dec 1616,9392,0111,00970330 Sep 1614,4941,56795969530 Jun 1612,88690691465831 Mar 1611,82561589362131 Dec 1512,24064190264130 Sep 1511,90763295870730 Jun 1512,046775924702質の高い収益: 2439 非現金収入 のレベルが高いです。利益率の向上: 2439の現在の純利益率 (2.6%)は、昨年(4.8%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: 2439の収益は過去 5 年間で年間7%増加しました。成長の加速: 2439は過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。収益対業界: 2439は過去 1 年間で収益成長率がマイナス ( -41.8% ) となったため、 Consumer Durables業界平均 ( -24.3% ) と比較することが困難です。株主資本利益率高いROE: 2439の 自己資本利益率 ( 9.7% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YConsumer-durables 、過去の業績が好調な企業。View Financial Health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 17:46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Merry Electronics Co., Ltd. 3 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。14 アナリスト機関Chia Yi ChenBofA Global ResearchYiho LiuCapital Securities CorporationChangrong ChenCapital Securities Corporation11 その他のアナリストを表示
Reported Earnings • May 01First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2026 results: EPS: NT$1.00 (down from NT$1.42 in 1Q 2025). Revenue: NT$11.0b (up 24% from 1Q 2025). Net income: NT$257.8m (down 27% from 1Q 2025). Profit margin: 2.3% (down from 4.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat.
Reported Earnings • Feb 26Full year 2025 earnings released: EPS: NT$5.36 (vs NT$9.26 in FY 2024)Full year 2025 results: EPS: NT$5.36 (down from NT$9.26 in FY 2024). Revenue: NT$46.5b (up 6.0% from FY 2024). Net income: NT$1.34b (down 38% from FY 2024). Profit margin: 2.9% (down from 4.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year.
Reported Earnings • Nov 01Third quarter 2025 earnings: EPS and revenues exceed analyst expectationsThird quarter 2025 results: EPS: NT$2.33 (down from NT$2.59 in 3Q 2024). Revenue: NT$13.1b (up 2.1% from 3Q 2024). Net income: NT$582.6m (down 7.0% from 3Q 2024). Profit margin: 4.4% (down from 4.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year.
Reported Earnings • Jul 26Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: NT$0.011 (down from NT$2.24 in 2Q 2024). Revenue: NT$10.3b (flat on 2Q 2024). Net income: NT$2.62m (down 100% from 2Q 2024). Profit margin: 0% (down from 4.8% in 2Q 2024). Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 99%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 12% per year.
お知らせ • Apr 17Merry Electronics Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025Merry Electronics Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025
分析記事 • Mar 06Additional Considerations Required While Assessing Merry Electronics' (TWSE:2439) Strong EarningsMerry Electronics Co., Ltd.'s ( TWSE:2439 ) robust earnings report didn't manage to move the market for its stock. Our...
Reported Earnings • May 01First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2026 results: EPS: NT$1.00 (down from NT$1.42 in 1Q 2025). Revenue: NT$11.0b (up 24% from 1Q 2025). Net income: NT$257.8m (down 27% from 1Q 2025). Profit margin: 2.3% (down from 4.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat.
Price Target Changed • Mar 05Price target decreased by 7.1% to NT$114Down from NT$123, the current price target is an average from 2 analysts. New target price is 39% above last closing price of NT$82.10. Stock is down 33% over the past year. The company is forecast to post earnings per share of NT$7.46 for next year compared to NT$5.36 last year.
Valuation Update With 7 Day Price Move • Mar 04Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$82.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Consumer Durables industry in Asia. Total returns to shareholders of 8.3% over the past three years.
Reported Earnings • Feb 26Full year 2025 earnings released: EPS: NT$5.36 (vs NT$9.26 in FY 2024)Full year 2025 results: EPS: NT$5.36 (down from NT$9.26 in FY 2024). Revenue: NT$46.5b (up 6.0% from FY 2024). Net income: NT$1.34b (down 38% from FY 2024). Profit margin: 2.9% (down from 4.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year.
お知らせ • Feb 26Merry Electronics Co., Ltd., Annual General Meeting, May 26, 2026Merry Electronics Co., Ltd., Annual General Meeting, May 26, 2026. Location: no,22, kung yeh ou rd., nan tun district, taichung city Taiwan
Major Estimate Revision • Nov 06Consensus EPS estimates increase by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from NT$43.7b to NT$45.2b. EPS estimate increased from NT$5.01 to NT$5.84 per share. Net income forecast to grow 13% next year vs 26% growth forecast for Consumer Durables industry in Taiwan. Consensus price target of NT$124 unchanged from last update. Share price rose 5.8% to NT$109 over the past week.
Reported Earnings • Nov 01Third quarter 2025 earnings: EPS and revenues exceed analyst expectationsThird quarter 2025 results: EPS: NT$2.33 (down from NT$2.59 in 3Q 2024). Revenue: NT$13.1b (up 2.1% from 3Q 2024). Net income: NT$582.6m (down 7.0% from 3Q 2024). Profit margin: 4.4% (down from 4.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year.
Upcoming Dividend • Aug 21Upcoming dividend of NT$7.29 per shareEligible shareholders must have bought the stock before 28 August 2025. Payment date: 26 September 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 6.2%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.3%).
Major Estimate Revision • Jul 30Consensus EPS estimates fall by 27%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$44.5b to NT$43.8b. EPS estimate also fell from NT$6.80 per share to NT$4.94 per share. Net income forecast to shrink 4.4% next year vs 20% growth forecast for Consumer Durables industry in Taiwan . Consensus price target of NT$128 unchanged from last update. Share price fell 6.3% to NT$112 over the past week.
New Risk • Jul 27New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 110% The company is paying a dividend despite having no free cash flows. Dividend yield: 6.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.
Reported Earnings • Jul 26Second quarter 2025 earnings: EPS and revenues miss analyst expectationsSecond quarter 2025 results: EPS: NT$0.011 (down from NT$2.24 in 2Q 2024). Revenue: NT$10.3b (flat on 2Q 2024). Net income: NT$2.62m (down 100% from 2Q 2024). Profit margin: 0% (down from 4.8% in 2Q 2024). Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 99%. Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 12% per year.
Major Estimate Revision • Jul 09Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from NT$45.2b to NT$44.5b. EPS estimate also fell from NT$8.18 per share to NT$6.80 per share. Net income forecast to shrink 13% next year vs 18% growth forecast for Consumer Durables industry in Taiwan . Consensus price target of NT$128 unchanged from last update. Share price fell 3.1% to NT$111 over the past week.
New Risk • Jul 08New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.5% per year for the foreseeable future. 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 profits are expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 1.5% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (169% cash payout ratio).
Price Target Changed • May 04Price target increased by 8.3% to NT$131Up from NT$121, the current price target is an average from 3 analysts. New target price is 15% above last closing price of NT$114. Stock is down 6.6% over the past year. The company is forecast to post earnings per share of NT$8.68 for next year compared to NT$9.26 last year.
お知らせ • Apr 17Merry Electronics Co., Ltd. to Report Q1, 2025 Results on Apr 24, 2025Merry Electronics Co., Ltd. announced that they will report Q1, 2025 results on Apr 24, 2025
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$103, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$51.64 per share.
お知らせ • Mar 18Merry Electronics Co., Ltd. (TWSE:2439) agreed to acquire MWT Holdings CO., Ltd from J-Star No. 3 Investment Limited Partnership, J-Star No.3 Jf, LP, J-Star No.3 Jc, LP, J-Star No.3 Gf, LP, J-STAR LLP 2016 managed by J-STAR Co., Ltd. for ¥10.3 billion.Merry Electronics Co., Ltd. (TWSE:2439) agreed to acquire MWT Holdings CO., Ltd from J-Star No. 3 Investment Limited Partnership, J-Star No.3 Jf, LP, J-Star No.3 Jc, LP, J-Star No.3 Gf, LP, J-STAR LLP 2016 managed by J-STAR Co., Ltd. for ¥10.3 billion on March 17, 2025. A cash consideration of ¥10.28 billion will be paid by Merry Electronics Co., Ltd. As part of consideration, ¥10.28 billion is paid towards common equity of MWT Holdings CO., Ltd. The transaction is subject to approval by regulatory board / committee and approval of offer by acquirer board.
分析記事 • Mar 06Additional Considerations Required While Assessing Merry Electronics' (TWSE:2439) Strong EarningsMerry Electronics Co., Ltd.'s ( TWSE:2439 ) robust earnings report didn't manage to move the market for its stock. Our...
Reported Earnings • Feb 28Full year 2024 earnings: EPS and revenues exceed analyst expectationsFull year 2024 results: EPS: NT$9.26 (up from NT$6.16 in FY 2023). Revenue: NT$43.9b (up 20% from FY 2023). Net income: NT$2.14b (up 62% from FY 2023). Profit margin: 4.9% (up from 3.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.4%. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Consumer Durables industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year.
お知らせ • Feb 27Merry Electronics Co., Ltd., Annual General Meeting, May 26, 2025Merry Electronics Co., Ltd., Annual General Meeting, May 26, 2025. Location: no,22, kung yeh ou rd., nan tun district, taichung city Taiwan
お知らせ • Feb 19Merry Electronics Co., Ltd. to Report Q4, 2024 Results on Feb 26, 2025Merry Electronics Co., Ltd. announced that they will report Q4, 2024 results on Feb 26, 2025
Reported Earnings • Oct 26Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindThird quarter 2024 results: EPS: NT$2.59 (up from NT$1.97 in 3Q 2023). Revenue: NT$12.9b (up 36% from 3Q 2023). Net income: NT$626.4m (up 49% from 3Q 2023). Profit margin: 4.9% (up from 4.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 5.1%. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Consumer Durables industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year.
お知らせ • Oct 17Merry Electronics Co., Ltd. to Report Q3, 2024 Results on Oct 24, 2024Merry Electronics Co., Ltd. announced that they will report Q3, 2024 results on Oct 24, 2024
Buy Or Sell Opportunity • Sep 23Now 23% overvaluedThe stock has been flat over the last 90 days, currently trading at NT$133. The fair value is estimated to be NT$108, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 9.1%. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 26% in the next year.
分析記事 • Aug 27Merry Electronics' (TWSE:2439) Shareholders Will Receive A Smaller Dividend Than Last YearMerry Electronics Co., Ltd. ( TWSE:2439 ) is reducing its dividend from last year's comparable payment to NT$4.15 on...
Buy Or Sell Opportunity • Aug 16Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 11% to NT$137. The fair value is estimated to be NT$111, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 9.1%. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 26% in the next year.
分析記事 • Aug 12Merry Electronics (TWSE:2439) Has Announced That It Will Be Increasing Its Dividend To NT$4.70Merry Electronics Co., Ltd. ( TWSE:2439 ) has announced that it will be increasing its dividend from last year's...
分析記事 • Aug 03We Think That There Are Issues Underlying Merry Electronics' (TWSE:2439) EarningsLast week's profit announcement from Merry Electronics Co., Ltd. ( TWSE:2439 ) was underwhelming for investors, despite...
分析記事 • Jul 29Merry Electronics (TWSE:2439) Is Increasing Its Dividend To NT$4.70The board of Merry Electronics Co., Ltd. ( TWSE:2439 ) has announced that it will be paying its dividend of NT$4.70 on...
Declared Dividend • Jul 27Dividend increased to NT$4.70Dividend of NT$4.70 is 5.1% higher than last year. Ex-date: 30th August 2024 Payment date: 25th September 2024 Dividend yield will be 3.8%, which is lower than the industry average of 4.1%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 4.2% over the next year, which should provide support to the dividend and adequate earnings cover.
お知らせ • Jul 26Merry Electronics Co., Ltd. Announces Cash Dividend, Payable on September 25, 2024Merry Electronics Co., Ltd. announced distribution of cash dividend of TWD 1,030,914,177 to shareholders (equals to TWD 4.7 per share). Ex-rights (ex-dividend) trading date is August 30, 2024. Ex-rights (ex-dividend) record date is September 07, 2024; Payment date of common stock cash dividend distribution is September 25, 2024.
お知らせ • Jul 18Merry Electronics Co., Ltd. to Report Q2, 2024 Results on Jul 25, 2024Merry Electronics Co., Ltd. announced that they will report Q2, 2024 results on Jul 25, 2024
Reported Earnings • Apr 27First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2024 results: EPS: NT$1.70 (up from NT$0.26 in 1Q 2023). Revenue: NT$8.35b (up 17% from 1Q 2023). Net income: NT$365.1m (up NT$309.1m from 1Q 2023). Profit margin: 4.4% (up from 0.8% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 39%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
お知らせ • Apr 27Merry Electronics Co., Ltd. announced that it expects to receive TWD 3.05 billion in fundingMerry Electronics Co., Ltd. announced a private placement of 5,000,000 common shares at a price of TWD 10 per share for the gross proceeds of TWD 50,000,000 and series 4 unsecured corporate convertible bonds for the gross proceeds of TWD 2,500,000,000 and series 5 unsecured corporate convertible bonds for the gross proceeds of TWD 500,000,000; for total gross proceeds of TWD 3,050,000,000 on April 25, 2024. The transaction has been approved by the shareholders of the company.
お知らせ • Apr 20Merry Electronics Co., Ltd. to Report Q1, 2024 Results on Apr 25, 2024Merry Electronics Co., Ltd. announced that they will report Q1, 2024 results on Apr 25, 2024
分析記事 • Apr 17Is Merry Electronics (TWSE:2439) A Risky Investment?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Major Estimate Revision • Mar 01Consensus EPS estimates increase by 13%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from NT$37.6b to NT$41.2b. EPS estimate increased from NT$6.63 to NT$7.52 per share. Net income forecast to grow 24% next year vs 22% growth forecast for Consumer Durables industry in Taiwan. Consensus price target up from NT$94.67 to NT$126. Share price rose 6.4% to NT$116 over the past week.
Reported Earnings • Feb 25Full year 2023 earnings released: EPS: NT$6.16 (vs NT$6.81 in FY 2022)Full year 2023 results: EPS: NT$6.16 (down from NT$6.81 in FY 2022). Revenue: NT$36.7b (up 3.6% from FY 2022). Net income: NT$1.32b (down 9.3% from FY 2022). Profit margin: 3.6% (down from 4.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Consumer Durables industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
Price Target Changed • Nov 08Price target increased by 9.6% to NT$91.33Up from NT$83.33, the current price target is an average from 3 analysts. New target price is 9.6% below last closing price of NT$101. Stock is up 19% over the past year. The company is forecast to post earnings per share of NT$6.40 for next year compared to NT$6.81 last year.
Major Estimate Revision • Nov 04Consensus EPS estimates increase by 21%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from NT$34.5b to NT$35.5b. EPS estimate increased from NT$5.29 to NT$6.42 per share. Net income forecast to grow 5.8% next year vs 20% growth forecast for Consumer Durables industry in Taiwan. Consensus price target up from NT$83.33 to NT$88.33. Share price rose 3.5% to NT$92.10 over the past week.
Reported Earnings • Oct 28Third quarter 2023 earnings: EPS and revenues exceed analyst expectationsThird quarter 2023 results: EPS: NT$1.97 (down from NT$2.74 in 3Q 2022). Revenue: NT$9.45b (down 14% from 3Q 2022). Net income: NT$421.7m (down 28% from 3Q 2022). Profit margin: 4.5% (down from 5.3% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Consumer Durables industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
New Risk • Oct 02New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 5.4% per year for the foreseeable future. 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 profits are expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Upcoming Dividend • Aug 24Upcoming dividend of NT$4.47 per share at 4.9% yieldEligible shareholders must have bought the stock before 31 August 2023. Payment date: 22 September 2023. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (5.6%). Higher than average of industry peers (4.4%).
Reported Earnings • Jul 29Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: NT$1.69 (down from NT$1.84 in 2Q 2022). Revenue: NT$8.36b (up 4.4% from 2Q 2022). Net income: NT$362.6m (down 7.7% from 2Q 2022). Profit margin: 4.3% (down from 4.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 45%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings.
お知らせ • Jul 28Merry Electronics Co., Ltd. Announces Ex-Dividend, Payable on September 22, 2023Merry Electronics Co., Ltd. announced Distribution of cash dividend TWD 981,234,639 to shareholders (equals to TWD 4.5 per share). Ex-rights (ex-dividend) record date: September 8, 2023. Payment date of cash dividend distribution: September 22, 2023. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: July 27, 2023.
お知らせ • Jun 15Merry Electronics Co., Ltd. Approves the Cash Dividend of 2022Merry Electronics Co., Ltd. at shareholders meeting on June 14, 2023 the company approved the Proposal for the Distribution of 2022 profits with cash dividend TWD 981,234,639 to shareholders (equals to TWD 4.5 per share).
Reported Earnings • May 02First quarter 2023 earnings: EPS and revenues miss analyst expectationsFirst quarter 2023 results: EPS: NT$0.26 (down from NT$0.52 in 1Q 2022). Revenue: NT$7.13b (up 19% from 1Q 2022). Net income: NT$56.0m (down 49% from 1Q 2022). Profit margin: 0.8% (down from 1.8% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 40%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 13% per year.
Price Target Changed • Mar 10Price target increased by 12% to NT$103Up from NT$92.00, the current price target is an average from 5 analysts. New target price is 20% above last closing price of NT$86.40. Stock is up 7.1% over the past year. The company is forecast to post earnings per share of NT$6.35 for next year compared to NT$6.81 last year.
Reported Earnings • Feb 26Full year 2022 earnings: EPS and revenues miss analyst expectationsFull year 2022 results: EPS: NT$6.81 (up from NT$5.40 in FY 2021). Revenue: NT$35.4b (down 2.2% from FY 2021). Net income: NT$1.46b (up 29% from FY 2021). Profit margin: 4.1% (up from 3.1% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Consumer Durables industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 15% per year.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Chang-Yun I was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Price Target Changed • Nov 02Price target decreased to NT$92.33Down from NT$103, the current price target is an average from 6 analysts. New target price is 15% above last closing price of NT$80.20. Stock is down 16% over the past year. The company is forecast to post earnings per share of NT$7.41 for next year compared to NT$5.40 last year.
Reported Earnings • Oct 29Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beatThird quarter 2022 results: EPS: NT$2.74 (up from NT$2.20 in 3Q 2021). Revenue: NT$11.1b (up 31% from 3Q 2021). Net income: NT$586.3m (up 28% from 3Q 2021). Profit margin: 5.3% (down from 5.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Consumer Durables industry in Asia. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Aug 18Upcoming dividend of NT$3.97 per shareEligible shareholders must have bought the stock before 25 August 2022. Payment date: 22 September 2022. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Taiwanese dividend payers (6.4%). In line with average of industry peers (4.7%).
お知らせ • Aug 11Merry Electronics Co., Ltd. Announces Dividend Rate Adjustment for 2021Merry Electronics Co., Ltd. announced the Dividend Rate Adjustment for 2021. Type and monetary amount of original dividend distribution: Cash dividend of common shares amounting to TWD 866,040,168, equal to TWD 4.0 per share. Type and monetary amount of dividend distribution after the change: Cash dividend of common shares amounting to TWD 866,040,168, equal to TWD 3.97082633 per share.
Reported Earnings • Jul 30Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2022 results: EPS: NT$1.84 (up from NT$0.54 in 2Q 2021). Revenue: NT$8.00b (down 2.0% from 2Q 2021). Net income: NT$392.6m (up 253% from 2Q 2021). Profit margin: 4.9% (up from 1.4% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 28%. Over the next year, revenue is forecast to grow 8.8%, compared to a 9.0% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings.
お知らせ • Jul 29Merry Electronics Co., Ltd. Announces Cash Dividend for 2021Merry Electronics Co., Ltd. announced distribution of cash dividend TWD 866,040,168 to shareholders (equals to TWD 4.0 per share). Ex-rights (ex-dividend) record date: August 31, 2022. Ex-rights (ex-dividend) trading date: August 25, 2022.
お知らせ • Jun 16Merry Electronics Co., Ltd. Approves Cash Dividend for 2021Merry Electronics Co., Ltd. announced that at its shareholders meeting held on June 15, 2022, approved the proposal for the distribution of 2021 profits with cash dividend TWD 866,040,168 to shareholders (equals to TWD 4.0 per share).
Reported Earnings • May 02First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behindFirst quarter 2022 results: EPS: NT$0.52 (up from NT$0.10 in 1Q 2021). Revenue: NT$6.02b (down 22% from 1Q 2021). Net income: NT$110.3m (up 427% from 1Q 2021). Profit margin: 1.8% (up from 0.3% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 267%. Over the next year, revenue is forecast to grow 15%, compared to a 10% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.
Price Target Changed • Apr 27Price target increased to NT$105Up from NT$94.00, the current price target is an average from 6 analysts. New target price is 30% above last closing price of NT$80.40. Stock is down 36% over the past year. The company is forecast to post earnings per share of NT$6.81 for next year compared to NT$5.40 last year.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director Harvey Wu was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Major Estimate Revision • Mar 04Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$7.82 to NT$6.97 per share. Revenue forecast steady at NT$39.6b. Net income forecast to grow 37% next year vs 19% growth forecast for Electronic industry in Taiwan. Consensus price target up from NT$95.29 to NT$106. Share price was steady at NT$83.00 over the past week.
Price Target Changed • Mar 01Price target increased to NT$105Up from NT$95.29, the current price target is an average from 5 analysts. New target price is 27% above last closing price of NT$82.50. Stock is down 41% over the past year. The company is forecast to post earnings per share of NT$6.79 for next year compared to NT$5.40 last year.
Reported Earnings • Feb 27Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: NT$5.40 (down from NT$6.39 in FY 2020). Revenue: NT$36.2b (up 5.0% from FY 2020). Net income: NT$1.13b (down 15% from FY 2020). Profit margin: 3.1% (down from 3.8% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 9.0%, compared to a 9.3% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 26Merry Electronics Co., Ltd., Annual General Meeting, Jun 15, 2022Merry Electronics Co., Ltd., Annual General Meeting, Jun 15, 2022. Location: Merry Corporation No. 22, 23rd Road Taichung Industrial Park Taichung Taiwan Agenda: To report the business report of 2021; to report the Audit Committees review report on the financial statements of 2021; to report the compensation to employees and remuneration to directors of 2021; to report the earnings distribution of 2021; to report on the connection and reasonableness between the contents and amounts of remuneration to directors and managerial officers and performance assessments results of directors and managerial officers; to report on the offering of the third domestic unsecured convertible bonds; to report the amendment of the Corporate Social Responsibility Best Practice Principles; and to transact other matters.
Price Target Changed • Nov 03Price target decreased to NT$111Down from NT$119, the current price target is an average from 6 analysts. New target price is 16% above last closing price of NT$95.00. Stock is down 32% over the past year. The company is forecast to post earnings per share of NT$6.26 for next year compared to NT$6.39 last year.
Price Target Changed • Nov 01Price target decreased to NT$118Down from NT$128, the current price target is an average from 5 analysts. New target price is 30% above last closing price of NT$90.40. Stock is down 35% over the past year. The company is forecast to post earnings per share of NT$5.78 for next year compared to NT$6.39 last year.
Reported Earnings • Oct 31Third quarter 2021 earnings released: EPS NT$2.20 (vs NT$1.90 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$8.46b (down 17% from 3Q 2020). Net income: NT$457.6m (up 16% from 3Q 2020). Profit margin: 5.4% (up from 3.9% 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 36% 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.
Price Target Changed • Oct 13Price target decreased to NT$119Down from NT$128, the current price target is an average from 6 analysts. New target price is 45% above last closing price of NT$82.00. Stock is down 46% over the past year.
Upcoming Dividend • Aug 18Upcoming dividend of NT$5.07 per shareEligible shareholders must have bought the stock before 25 August 2021. Payment date: 17 September 2021. Trailing yield: 4.8%. Lower than top quartile of Taiwanese dividend payers (5.3%). Higher than average of industry peers (3.3%).
Major Estimate Revision • Aug 06Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 EPS estimate fell from NT$6.91 to NT$6.05 per share. Revenue forecast steady at NT$38.0b. Net income forecast to grow 42% next year vs 23% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$130 to NT$127. Share price was steady at NT$111 over the past week.
Reported Earnings • Jul 30Second quarter 2021 earnings released: EPS NT$0.54 (vs NT$1.47 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: NT$8.17b (up 27% from 2Q 2020). Net income: NT$111.2m (down 63% from 2Q 2020). Profit margin: 1.4% (down from 4.7% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
Major Estimate Revision • Jun 11Consensus forecasts updatedThe consensus outlook for 2021 has been updated. 2021 EPS estimate fell from NT$7.87 to NT$6.99 per share. Revenue forecast steady at NT$38.1b. Net income forecast to grow 23% next year vs 20% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$136 to NT$130. Share price was steady at NT$108 over the past week.
Price Target Changed • May 09Price target decreased to NT$144Down from NT$160, the current price target is an average from 6 analysts. New target price is 32% above last closing price of NT$109. Stock is down 18% over the past year.
Major Estimate Revision • May 08Consensus EPS estimates fall to NT$8.38The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from NT$40.0b to NT$38.4b. EPS estimate also fell from NT$10.03 to NT$8.38. Net income forecast to grow 47% next year vs 26% growth forecast for Electronic industry in Taiwan. Consensus price target down from NT$160 to NT$149. Share price fell 14% to NT$109 over the past week.
Reported Earnings • May 02First quarter 2021 earnings released: EPS NT$0.10 (vs NT$0.23 in 1Q 2020)The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: NT$7.73b (up 49% from 1Q 2020). Net income: NT$20.9m (down 56% from 1Q 2020). Profit margin: 0.3% (down from 0.9% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
分析記事 • Apr 25Are Investors Undervaluing Merry Electronics Co., Ltd. (TPE:2439) By 25%?In this article we are going to estimate the intrinsic value of Merry Electronics Co., Ltd. ( TPE:2439 ) by taking the...
分析記事 • Apr 12Does Merry Electronics (TPE:2439) Have A Healthy Balance Sheet?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
分析記事 • Mar 17Merry Electronics (TPE:2439) Has Gifted Shareholders With A Fantastic 219% Total Return On Their InvestmentWhen you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose...
Major Estimate Revision • Mar 05Analysts update estimatesThe 2021 consensus earning per share (EPS) estimate was lowered from NT$10.90 to NT$9.44. Revenue estimate was approximately flat at NT$39.6b. Net income is expected to grow by 54% next year compared to 27% growth forecast for the Electronic industry in Taiwan. The consensus price target was lowered from NT$165 to NT$159. Share price is down by 1.5% to NT$135 over the past week.
分析記事 • Mar 04Key Things To Consider Before Buying Merry Electronics Co., Ltd. (TPE:2439) For Its DividendCould Merry Electronics Co., Ltd. ( TPE:2439 ) be an attractive dividend share to own for the long haul? Investors are...
Analyst Estimate Surprise Post Earnings • Feb 27Revenue and earnings miss expectationsRevenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 26%. Over the next year, revenue is forecast to grow 13%, compared to a 16% growth forecast for the Electronic industry in Taiwan.
お知らせ • Feb 26Merry Electronics Co., Ltd., Annual General Meeting, Jun 15, 2021Merry Electronics Co., Ltd., Annual General Meeting, Jun 15, 2021. Location: Merry Corporation No. 22, 23rd Road Taichung Industrial Park, Taichung Taichung Taiwan Agenda: To consider report the business report of 2020; to consider report the Audit Committee’s review report on the financial statements of 2020; to consider report the compensation to employees and remuneration to directors of 2020; to consider report the earnings distribution of 2020; to consider report on the connection and reasonableness between the contents and amounts of remuneration to directors and managerial officers and performance assessments results of directors and managerial officers; to consider report the amendment of the Corporate Social Responsibility Best Practice Principles; and to consider any other matter.
Reported Earnings • Feb 26Full year 2020 earnings released: EPS NT$6.39 (vs NT$12.51 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$34.4b (down 5.4% from FY 2019). Net income: NT$1.32b (down 48% from FY 2019). Profit margin: 3.8% (down from 7.0% in FY 2019). The decrease in margin was driven by lower revenue. 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 7% per year, which means it has not declined as severely as earnings.
分析記事 • Feb 19Why Merry Electronics Co., Ltd. (TPE:2439) Could Be Worth WatchingMerry Electronics Co., Ltd. ( TPE:2439 ), might not be a large cap stock, but it saw significant share price movement...
分析記事 • Feb 06The Trends At Merry Electronics (TPE:2439) That You Should Know AboutFinding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Is New 90 Day High Low • Feb 02New 90-day low: NT$133The company is down 5.0% from its price of NT$140 on 04 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$218 per share.
分析記事 • Jan 24Is There An Opportunity With Merry Electronics Co., Ltd.'s (TPE:2439) 38% Undervaluation?Today we will run through one way of estimating the intrinsic value of Merry Electronics Co., Ltd. ( TPE:2439 ) by...
Is New 90 Day High Low • Jan 15New 90-day low: NT$136The company is down 11% from its price of NT$153 on 16 October 2020. The Taiwanese market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 29% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$219 per share.
分析記事 • Jan 10Does Merry Electronics (TPE:2439) Have A Healthy Balance Sheet?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
分析記事 • Dec 28Merry Electronics Co., Ltd.'s (TPE:2439) Stock Has Fared Decently: Is the Market Following Strong Financials?Merry Electronics' (TPE:2439) stock is up by 5.0% over the past month. Since the market usually pay for a company’s...
分析記事 • Dec 15Merry Electronics (TPE:2439) Has Gifted Shareholders With A Fantastic 220% Total Return On Their InvestmentThe worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
分析記事 • Dec 02Are Dividend Investors Making A Mistake With Merry Electronics Co., Ltd. (TPE:2439)?Dividend paying stocks like Merry Electronics Co., Ltd. ( TPE:2439 ) tend to be popular with investors, and for good...
分析記事 • Nov 18Is Now The Time To Look At Buying Merry Electronics Co., Ltd. (TPE:2439)?Merry Electronics Co., Ltd. (TPE:2439), might not be a large cap stock, but it received a lot of attention from a...
Major Estimate Revision • Nov 05Analysts update estimatesThe 2020 consensus revenue estimate increased from NT$33.4b to NT$35.3b. Earnings per share (EPS) estimate was lowered from NT$9.91 to NT$8.13 for the same period. Net income is expected to grow by 83% next year compared to 22% growth forecast for the Electronic industry in Taiwan. The consensus price target was lowered from NT$173 to NT$163. Share price is down by 3.1% to NT$141 over the past week.
Is New 90 Day High Low • Oct 30New 90-day low: NT$141The company is down 11% from its price of NT$159 on 31 July 2020. The Taiwanese market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$173 per share.