Meiloon Industrial（2477）株式概要Meiloon Industrial Co., Ltd.は、台湾、ヨーロッパ、米国、アジア、および国際的にスピーカーの設計と製造を行っています。 詳細2477 ファンダメンタル分析スノーフレーク・スコア評価4/6将来の成長0/6過去の実績4/6財務の健全性5/6配当金4/6報酬当社が推定した公正価値より74.3%で取引されている 過去1年間で収益は1.7%増加しました リスク分析過去5年間で収益は年間52.5%減少しました。 不安定な配当実績 すべてのリスクチェックを見る2477 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW472,568 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINRODA472,568 investors already sharing narrativesYour Fair ValueNT$Current PriceNT$21.05152.1% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture04b2016201920222025202620282031Revenue NT$1.5bEarnings NT$151.8mAdvancedSet Fair ValueView all narrativesMeiloon Industrial Co., Ltd. 競合他社Ya Horng ElectronicSymbol: TWSE:6201Market cap: NT$4.0bHanpin ElectronSymbol: TWSE:2488Market cap: NT$4.0bEastech HoldingSymbol: TWSE:5225Market cap: NT$4.8bAMPACSSymbol: TWSE:6743Market cap: NT$3.9b価格と性能株価の高値、安値、推移の概要Meiloon Industrial過去の株価現在の株価NT$21.0552週高値NT$28.2552週安値NT$20.35ベータ0.101ヶ月の変化-1.64%3ヶ月変化0.72%1年変化-20.27%3年間の変化5.78%5年間の変化-37.86%IPOからの変化-82.35%最新ニュースValuation Update With 7 Day Price Move • Jun 03Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$23.65, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 31% over the past three years.Reported Earnings • May 15First quarter 2026 earnings released: EPS: NT$0.11 (vs NT$0.17 in 1Q 2025)First quarter 2026 results: EPS: NT$0.11 (down from NT$0.17 in 1Q 2025). Revenue: NT$506.1m (down 3.3% from 1Q 2025). Net income: NT$17.5m (down 35% from 1Q 2025). Profit margin: 3.5% (down from 5.1% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 17Upcoming dividend of NT$1.40 per shareEligible shareholders must have bought the stock before 24 April 2026. Payment date: 25 May 2026. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (4.1%).Reported Earnings • Mar 18Full year 2025 earnings released: EPS: NT$1.68 (vs NT$1.50 in FY 2024)Full year 2025 results: EPS: NT$1.68 (up from NT$1.50 in FY 2024). Revenue: NT$2.50b (down 5.3% from FY 2024). Net income: NT$266.7m (up 12% from FY 2024). Profit margin: 11% (up from 9.0% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Declared Dividend • Mar 14Dividend increased to NT$1.40Dividend of NT$1.40 is 7.7% higher than last year. Ex-date: 24th April 2026 Payment date: 25th May 2026 Dividend yield will be 5.7%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not adequately covered by cash flows (96% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend.お知らせ • Mar 13Meiloon Industrial Co., Ltd. announces Annual dividend, payable on May 25, 2026Meiloon Industrial Co., Ltd. announced Annual dividend of TWD 1.4000 per share payable on May 25, 2026, ex-date on April 24, 2026 and record date on April 27, 2026.最新情報をもっと見るRecent updatesValuation Update With 7 Day Price Move • Jun 03Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$23.65, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 31% over the past three years.Reported Earnings • May 15First quarter 2026 earnings released: EPS: NT$0.11 (vs NT$0.17 in 1Q 2025)First quarter 2026 results: EPS: NT$0.11 (down from NT$0.17 in 1Q 2025). Revenue: NT$506.1m (down 3.3% from 1Q 2025). Net income: NT$17.5m (down 35% from 1Q 2025). Profit margin: 3.5% (down from 5.1% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 17Upcoming dividend of NT$1.40 per shareEligible shareholders must have bought the stock before 24 April 2026. Payment date: 25 May 2026. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (4.1%).Reported Earnings • Mar 18Full year 2025 earnings released: EPS: NT$1.68 (vs NT$1.50 in FY 2024)Full year 2025 results: EPS: NT$1.68 (up from NT$1.50 in FY 2024). Revenue: NT$2.50b (down 5.3% from FY 2024). Net income: NT$266.7m (up 12% from FY 2024). Profit margin: 11% (up from 9.0% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Declared Dividend • Mar 14Dividend increased to NT$1.40Dividend of NT$1.40 is 7.7% higher than last year. Ex-date: 24th April 2026 Payment date: 25th May 2026 Dividend yield will be 5.7%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not adequately covered by cash flows (96% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend.お知らせ • Mar 13Meiloon Industrial Co., Ltd. announces Annual dividend, payable on May 25, 2026Meiloon Industrial Co., Ltd. announced Annual dividend of TWD 1.4000 per share payable on May 25, 2026, ex-date on April 24, 2026 and record date on April 27, 2026.お知らせ • Mar 12Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 26, 2026Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 26, 2026, at 09:00 Taipei Standard Time. Location: no,300, sec.1 chuang ching rd., taoyuan district, taoyuan city TaiwanReported Earnings • Nov 17Third quarter 2025 earnings released: EPS: NT$0.61 (vs NT$0.73 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.61 (down from NT$0.73 in 3Q 2024). Revenue: NT$712.7m (down 18% from 3Q 2024). Net income: NT$97.0m (down 16% from 3Q 2024). Profit margin: 14% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: NT$0.80 (vs NT$0.57 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.80 (up from NT$0.57 in 2Q 2024). Revenue: NT$652.3m (down 8.7% from 2Q 2024). Net income: NT$127.5m (up 42% from 2Q 2024). Profit margin: 20% (up from 13% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Aug 14Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$25.50, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 19% over the past three years.Reported Earnings • May 14First quarter 2025 earnings released: EPS: NT$0.17 (vs NT$0.074 in 1Q 2024)First quarter 2025 results: EPS: NT$0.17 (up from NT$0.074 in 1Q 2024). Revenue: NT$523.2m (up 22% from 1Q 2024). Net income: NT$26.8m (up 128% from 1Q 2024). Profit margin: 5.1% (up from 2.7% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.お知らせ • May 06Meiloon Industrial Co., Ltd. to Report Q1, 2025 Results on May 13, 2025Meiloon Industrial Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025Upcoming Dividend • Apr 17Upcoming dividend of NT$1.30 per shareEligible shareholders must have bought the stock before 24 April 2025. Payment date: 29 May 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (4.8%).New Risk • Apr 08New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.20b (US$96.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 33% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$3.20b market cap, or US$96.9m).Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$20.20, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 19% over the past three years.分析記事 • Mar 26We Think Meiloon Industrial's (TWSE:2477) Robust Earnings Are ConservativeMeiloon Industrial Co., Ltd. ( TWSE:2477 ) just reported healthy earnings but the stock price didn't move much. We...分析記事 • Mar 18Meiloon Industrial (TWSE:2477) Will Pay A Larger Dividend Than Last Year At NT$1.30The board of Meiloon Industrial Co., Ltd. ( TWSE:2477 ) has announced that it will be increasing its dividend by 160...Reported Earnings • Mar 18Full year 2024 earnings released: EPS: NT$1.50 (vs NT$0.24 in FY 2023)Full year 2024 results: EPS: NT$1.50 (up from NT$0.24 in FY 2023). Revenue: NT$2.64b (up 13% from FY 2023). Net income: NT$237.9m (up NT$200.6m from FY 2023). Profit margin: 9.0% (up from 1.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance.お知らせ • Mar 14Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 25, 2025Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 25, 2025, at 09:00 Taipei Standard Time. Location: no,300, sec.1 chuang ching rd., taoyuan district, taoyuan city TaiwanDeclared Dividend • Mar 14Dividend increased to NT$1.30Dividend of NT$1.30 is 160% higher than last year. Ex-date: 24th April 2025 Payment date: 29th May 2025 Dividend yield will be 4.7%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 64% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.4% EPS decline seen over the last 5 years.お知らせ • Mar 13Meiloon Industrial Co., Ltd. announces Annual dividend, payable on May 29, 2025Meiloon Industrial Co., Ltd. announced Annual dividend of TWD 1.3000 per share payable on May 29, 2025, ex-date on April 24, 2025 and record date on April 26, 2025.お知らせ • Mar 04Meiloon Industrial Co., Ltd. to Report Fiscal Year 2024 Results on Mar 12, 2025Meiloon Industrial Co., Ltd. announced that they will report fiscal year 2024 results on Mar 12, 2025分析記事 • Feb 10Meiloon Industrial Co., Ltd.'s (TWSE:2477) Share Price Could Signal Some RiskIt's not a stretch to say that Meiloon Industrial Co., Ltd.'s ( TWSE:2477 ) price-to-sales (or "P/S") ratio of 1.7x...Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.73 (vs NT$0.32 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.73 (up from NT$0.32 in 3Q 2023). Revenue: NT$864.2m (up 19% from 3Q 2023). Net income: NT$115.9m (up 127% from 3Q 2023). Profit margin: 13% (up from 7.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance.分析記事 • Oct 29Meiloon Industrial Co., Ltd.'s (TWSE:2477) 26% Share Price Surge Not Quite Adding UpDespite an already strong run, Meiloon Industrial Co., Ltd. ( TWSE:2477 ) shares have been powering on, with a gain of...Valuation Update With 7 Day Price Move • Oct 24Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$34.70, the stock trades at a trailing P/E ratio of 31.1x. Average trailing P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 26% over the past three years.分析記事 • Sep 13Meiloon Industrial Co., Ltd.'s (TWSE:2477) Shares Climb 28% But Its Business Is Yet to Catch UpMeiloon Industrial Co., Ltd. ( TWSE:2477 ) shares have continued their recent momentum with a 28% gain in the last...Valuation Update With 7 Day Price Move • Sep 13Investor sentiment improves as stock rises 27%After last week's 27% share price gain to NT$32.05, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 19% over the past three years.分析記事 • Aug 20Meiloon Industrial's (TWSE:2477) Solid Earnings May Rest On Weak FoundationsMeiloon Industrial Co., Ltd.'s ( TWSE:2477 ) healthy profit numbers didn't contain any surprises for investors. We...Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.57 (vs NT$0.08 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.57 (up from NT$0.08 in 2Q 2023). Revenue: NT$714.5m (up 11% from 2Q 2023). Net income: NT$90.1m (up NT$77.5m from 2Q 2023). Profit margin: 13% (up from 2.0% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance.New Risk • Aug 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.8% average weekly change).Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$23.40, the stock trades at a trailing P/E ratio of 37.3x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 23% over the past three years.お知らせ • Jul 31Meiloon Industrial Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024Meiloon Industrial Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024分析記事 • Jul 12Investor Optimism Abounds Meiloon Industrial Co., Ltd. (TWSE:2477) But Growth Is LackingWhen close to half the companies in Taiwan have price-to-earnings ratios (or "P/E's") below 23x, you may consider...Valuation Update With 7 Day Price Move • Jul 11Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$27.20, the stock trades at a trailing P/E ratio of 43.3x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 13% over the past three years.New Risk • Jun 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 123% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 212% Paying a dividend despite having no free cash flows. Earnings have declined by 17% per year over the past 5 years. Minor Risk Large one-off items impacting financial results.Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.07 (vs NT$0.32 loss in 1Q 2023)First quarter 2024 results: EPS: NT$0.07 (up from NT$0.32 loss in 1Q 2023). Revenue: NT$429.2m (up 12% from 1Q 2023). Net income: NT$11.7m (up NT$62.2m from 1Q 2023). Profit margin: 2.7% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance.お知らせ • May 05Meiloon Industrial Co., Ltd. to Report Q1, 2024 Results on May 13, 2024Meiloon Industrial Co., Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 13, 2024Upcoming Dividend • Apr 18Upcoming dividend of NT$0.50 per shareEligible shareholders must have bought the stock before 25 April 2024. Payment date: 31 May 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (4.6%). Lower than average of industry peers (3.5%).Reported Earnings • Mar 19Full year 2023 earnings released: EPS: NT$0.24 (vs NT$0.59 in FY 2022)Full year 2023 results: EPS: NT$0.24 (down from NT$0.59 in FY 2022). Revenue: NT$2.33b (down 33% from FY 2022). Net income: NT$37.4m (down 60% from FY 2022). Profit margin: 1.6% (down from 2.7% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance.New Risk • Mar 18New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.16b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 1.4% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.16b market cap, or US$99.9m).お知らせ • Mar 14Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 27, 2024Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 27, 2024. Location: MONARCH PLAZA HOTEL No.300, Sec. 1, Zhuangjing Rd., Taoyuan Dist. Taoyuan City Taiwan Agenda: To consider the Company's 2023 Business Report; to consider the Audit Committee's Review Report on 2023 Financial Statements; to consider the Distribution of Directors Remuneration and Employees Bonus for 2023; to consider the Distribution of Cash Dividend to Shareholders from 2023 Earnings; to consider the Loaning of Company and subsidiary Funds. 6.Cause for convening the meeting; to consider the Company's 2023 business report and financial statements; to consider the Company's 2023 distribution of earnings; to consider the by-Election of the Company's Directors for the 18th Term.New Risk • Jan 19New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.16b (US$100.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 1.4% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.16b market cap, or US$100.0m).Reported Earnings • Nov 14Third quarter 2023 earnings released: EPS: NT$0.32 (vs NT$0.84 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.32 (down from NT$0.84 in 3Q 2022). Revenue: NT$724.4m (down 5.1% from 3Q 2022). Net income: NT$51.1m (down 61% from 3Q 2022). Profit margin: 7.1% (down from 17% in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance.New Risk • Aug 13New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 53% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 157% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$3.16b market cap, or US$99.2m).Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: NT$0.08 (vs NT$0.11 loss in 2Q 2022)Second quarter 2023 results: EPS: NT$0.08 (up from NT$0.11 loss in 2Q 2022). Revenue: NT$643.4m (down 40% from 2Q 2022). Net income: NT$12.7m (up NT$29.9m from 2Q 2022). Profit margin: 2.0% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.New Risk • Aug 11New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.16b (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 250% Cash payout ratio: 207% Minor Risks Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (NT$3.16b market cap, or US$99.4m).Upcoming Dividend • Apr 20Upcoming dividend of NT$0.80 per share at 3.7% yieldEligible shareholders must have bought the stock before 27 April 2023. Payment date: 01 June 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.7%). Lower than average of industry peers (4.2%).Reported Earnings • Mar 30Full year 2022 earnings released: EPS: NT$0.50 (vs NT$10.33 in FY 2021)Full year 2022 results: EPS: NT$0.50 (down from NT$10.33 in FY 2021). Revenue: NT$3.49b (down 7.3% from FY 2021). Net income: NT$93.3m (down 94% from FY 2021). Profit margin: 2.7% (down from 44% in FY 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 6% per year.Valuation Update With 7 Day Price Move • Nov 30Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to NT$18.70, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 13x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 25% over the past three years.Upcoming Dividend • Nov 17Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 24 November 2022. Payment date: 05 December 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 8.0%. Within top quartile of Taiwanese dividend payers (7.0%). Higher than average of industry peers (5.0%).Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: NT$0.68 (vs NT$0.32 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.68 (up from NT$0.32 in 3Q 2021). Revenue: NT$763.7m (down 24% from 3Q 2021). Net income: NT$132.5m (up 108% from 3Q 2021). Profit margin: 17% (up from 6.3% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Reported Earnings • Nov 13Third quarter 2022 earnings released: EPS: NT$0.68 (vs NT$0.32 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.68 (up from NT$0.32 in 3Q 2021). Revenue: NT$763.7m (down 24% from 3Q 2021). Net income: NT$132.5m (up 108% from 3Q 2021). Profit margin: 17% (up from 6.3% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Nov 02Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$18.80, the stock trades at a trailing P/E ratio of 64.6x. Average trailing P/E is 13x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 8.6% over the past three years.Buying Opportunity • Oct 21Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 22%. The fair value is estimated to be NT$20.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 34%.Buying Opportunity • Sep 28Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be NT$22.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 34%.Reported Earnings • Aug 15Second quarter 2022 earnings released: NT$0.09 loss per share (vs NT$0.51 profit in 2Q 2021)Second quarter 2022 results: NT$0.09 loss per share (down from NT$0.51 profit in 2Q 2021). Revenue: NT$1.07b (up 17% from 2Q 2021). Net loss: NT$17.2m (down 117% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jul 04Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 11 July 2022. Payment date: 12 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.1%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (5.1%).Reported Earnings • May 17First quarter 2022 earnings released: NT$0.04 loss per share (vs NT$7.34 profit in 1Q 2021)First quarter 2022 results: NT$0.04 loss per share (down from NT$7.34 profit in 1Q 2021). Revenue: NT$980.4m (up 36% from 1Q 2021). Net loss: NT$7.97m (down 100% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 31Full year 2021 earnings released: EPS: NT$8.27 (vs NT$0.92 in FY 2020)Full year 2021 results: EPS: NT$8.27 (up from NT$0.92 in FY 2020). Revenue: NT$3.76b (up 23% from FY 2020). Net income: NT$1.64b (up NT$1.46b from FY 2020). Profit margin: 44% (up from 6.0% in FY 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Mar 24Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to NT$29.20, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 13x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 74% over the past three years.Reported Earnings • Nov 13Third quarter 2021 earnings released: EPS NT$0.32 (vs NT$0.26 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.00b (up 22% from 3Q 2020). Net income: NT$63.7m (up 24% from 3Q 2020). Profit margin: 6.3% (up from 6.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS NT$0.51 (vs NT$0.43 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$914.4m (up 30% from 2Q 2020). Net income: NT$101.2m (up 18% from 2Q 2020). Profit margin: 11% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Aug 03Upcoming dividend of NT$1.45 per shareEligible shareholders must have bought the stock before 10 August 2021. Payment date: 08 September 2021. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.5%).Valuation Update With 7 Day Price Move • Jun 16Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$37.50, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 12x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 82% over the past three years.Reported Earnings • May 14First quarter 2021 earnings released: EPS NT$7.34 (vs NT$0.029 loss in 1Q 2020)First quarter 2021 results: Revenue: NT$723.8m (up 33% from 1Q 2020). Net income: NT$1.45b (up NT$1.46b from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$39.35, the stock trades at a trailing P/E ratio of 42.6x. Average trailing P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 57% over the past three years.Reported Earnings • Mar 30Full year 2020 earnings released: EPS NT$0.92 (vs NT$2.12 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.05b (down 21% from FY 2019). Net income: NT$183.2m (down 56% from FY 2019). Profit margin: 6.0% (down from 11% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.分析記事 • Mar 21Here’s What’s Happening With Returns At Meiloon Industrial (TPE:2477)If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Valuation Update With 7 Day Price Move • Mar 12Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$35.50, the stock is trading at a trailing P/E ratio of 25.2x, up from the previous P/E ratio of 21.5x. This compares to an average P/E of 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders over the past three years are 34%.分析記事 • Mar 03Here's Why Meiloon Industrial (TPE:2477) Can Manage Its Debt ResponsiblyDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...分析記事 • Feb 13Are Meiloon Industrial's (TPE:2477) Statutory Earnings A Good Reflection Of Its Earnings Potential?As a general rule, we think profitable companies are less risky than companies that lose money. However, sometimes...Is New 90 Day High Low • Feb 01New 90-day low: NT$28.65The company is down 3.0% from its price of NT$29.45 on 03 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 9.0% over the same period.分析記事 • Jan 28Read This Before Buying Meiloon Industrial Co., Ltd. (TPE:2477) For Its DividendToday we'll take a closer look at Meiloon Industrial Co., Ltd. ( TPE:2477 ) from a dividend investor's perspective...分析記事 • Jan 13Meiloon Industrial Co., Ltd.'s (TPE:2477) Stock's Been Going Strong: Could Weak Financials Mean The Market Will Coorect Its Share Price?Meiloon Industrial's (TPE:2477) stock is up by a considerable 42% over the past three months. We, however wanted to...Is New 90 Day High Low • Dec 31New 90-day high: NT$35.00The company is up 52% from its price of NT$23.00 on 30 September 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 11% over the same period.分析記事 • Dec 29Meiloon Industrial (TPE:2477) Has Gifted Shareholders With A Fantastic 216% 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...分析記事 • Dec 14Will Meiloon Industrial's (TPE:2477) Growth In ROCE Persist?Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want...分析記事 • Nov 29Meiloon Industrial (TPE:2477) Seems To Use Debt Quite SensiblyLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.26The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$820.5m (down 15% from 3Q 2019). Net income: NT$51.3m (down 48% from 3Q 2019). Profit margin: 6.2% (down from 10% in 3Q 2019). The decrease in margin was driven by lower revenue. 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 3% per year.Valuation Update With 7 Day Price Move • Nov 12Market bids up stock over the past weekAfter last week's 16% share price gain to NT$33.75, the stock is trading at a trailing P/E ratio of 20.5x, up from the previous P/E ratio of 17.7x. This compares to an average P/E of 19x in the Consumer Durables industry in Taiwan. Total returns to shareholders over the past three years are 32%.Is New 90 Day High Low • Nov 11New 90-day high: NT$30.80The company is up 40% from its price of NT$21.95 on 13 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 9.0% over the same period.Valuation Update With 7 Day Price Move • Oct 19Market bids up stock over the past weekAfter last week's 16% share price gain to NT$26.95, the stock is trading at a trailing P/E ratio of 16.4x, up from the previous P/E ratio of 14.1x. This compares to an average P/E of 18x in the Consumer Durables industry in Taiwan. Total return to shareholders over the past three years is a loss of 4.1%.Is New 90 Day High Low • Oct 14New 90-day high: NT$24.25The company is up 12% from its price of NT$21.60 on 16 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is down 1.0% over the same period.株主還元2477TW Consumer DurablesTW 市場7D-5.8%-0.8%3.6%1Y-20.3%-15.4%87.6%株主還元を見る業界別リターン: 2477過去 1 年間で-15.4 % の収益を上げたTW Consumer Durables業界を下回りました。リターン対市場: 2477は、過去 1 年間で87.6 % のリターンを上げたTW市場を下回りました。価格変動Is 2477's price volatile compared to industry and market?2477 volatility2477 Average Weekly Movement3.9%Consumer Durables Industry Average Movement4.4%Market Average Movement6.4%10% most volatile stocks in TW Market12.1%10% least volatile stocks in TW Market2.7%安定した株価: 2477 、 TW市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 2477の 週次ボラティリティ ( 4% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト19731,331n/awww.meiloon.com.twMeiloon Industrial Co., Ltd.は、台湾、欧州、米国、アジア、および国際的にスピーカーの設計と製造を行っている。ホームシアターシステム、サブウーファー、サウンドバー、ATV、ワイヤレススピーカー、ポータブルスピーカー、インウォールスピーカー、インセリングスピーカー、カースピーカー、マリンスピーカー、アウトドアスピーカー、教育用スピーカー、スタジオモニタースピーカー、ラインアレイなどを提供している。同社は1973年に設立され、台湾の桃園市に本社を置く。もっと見るMeiloon Industrial Co., Ltd. 基礎のまとめMeiloon Industrial の収益と売上を時価総額と比較するとどうか。2477 基礎統計学時価総額NT$3.34b収益（TTM）NT$257.38m売上高(TTM)NT$2.48b13.0xPER（株価収益率1.3xP/Sレシオ2477 は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計2477 損益計算書（TTM）収益NT$2.48b売上原価NT$1.83b売上総利益NT$648.31mその他の費用NT$390.93m収益NT$257.38m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）1.62グロス・マージン26.13%純利益率10.37%有利子負債／自己資本比率51.4%2477 の長期的なパフォーマンスは？過去の実績と比較を見る配当金6.2%現在の配当利回り76%配当性向View Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/08/14 18:20終値2026/08/14 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Meiloon Industrial Co., Ltd. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。0
Valuation Update With 7 Day Price Move • Jun 03Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$23.65, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 31% over the past three years.
Reported Earnings • May 15First quarter 2026 earnings released: EPS: NT$0.11 (vs NT$0.17 in 1Q 2025)First quarter 2026 results: EPS: NT$0.11 (down from NT$0.17 in 1Q 2025). Revenue: NT$506.1m (down 3.3% from 1Q 2025). Net income: NT$17.5m (down 35% from 1Q 2025). Profit margin: 3.5% (down from 5.1% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 17Upcoming dividend of NT$1.40 per shareEligible shareholders must have bought the stock before 24 April 2026. Payment date: 25 May 2026. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (4.1%).
Reported Earnings • Mar 18Full year 2025 earnings released: EPS: NT$1.68 (vs NT$1.50 in FY 2024)Full year 2025 results: EPS: NT$1.68 (up from NT$1.50 in FY 2024). Revenue: NT$2.50b (down 5.3% from FY 2024). Net income: NT$266.7m (up 12% from FY 2024). Profit margin: 11% (up from 9.0% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Mar 14Dividend increased to NT$1.40Dividend of NT$1.40 is 7.7% higher than last year. Ex-date: 24th April 2026 Payment date: 25th May 2026 Dividend yield will be 5.7%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not adequately covered by cash flows (96% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend.
お知らせ • Mar 13Meiloon Industrial Co., Ltd. announces Annual dividend, payable on May 25, 2026Meiloon Industrial Co., Ltd. announced Annual dividend of TWD 1.4000 per share payable on May 25, 2026, ex-date on April 24, 2026 and record date on April 27, 2026.
Valuation Update With 7 Day Price Move • Jun 03Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$23.65, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 31% over the past three years.
Reported Earnings • May 15First quarter 2026 earnings released: EPS: NT$0.11 (vs NT$0.17 in 1Q 2025)First quarter 2026 results: EPS: NT$0.11 (down from NT$0.17 in 1Q 2025). Revenue: NT$506.1m (down 3.3% from 1Q 2025). Net income: NT$17.5m (down 35% from 1Q 2025). Profit margin: 3.5% (down from 5.1% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 17Upcoming dividend of NT$1.40 per shareEligible shareholders must have bought the stock before 24 April 2026. Payment date: 25 May 2026. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 5.4%. Within top quartile of Taiwanese dividend payers (5.1%). Higher than average of industry peers (4.1%).
Reported Earnings • Mar 18Full year 2025 earnings released: EPS: NT$1.68 (vs NT$1.50 in FY 2024)Full year 2025 results: EPS: NT$1.68 (up from NT$1.50 in FY 2024). Revenue: NT$2.50b (down 5.3% from FY 2024). Net income: NT$266.7m (up 12% from FY 2024). Profit margin: 11% (up from 9.0% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Mar 14Dividend increased to NT$1.40Dividend of NT$1.40 is 7.7% higher than last year. Ex-date: 24th April 2026 Payment date: 25th May 2026 Dividend yield will be 5.7%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not adequately covered by cash flows (96% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend.
お知らせ • Mar 13Meiloon Industrial Co., Ltd. announces Annual dividend, payable on May 25, 2026Meiloon Industrial Co., Ltd. announced Annual dividend of TWD 1.4000 per share payable on May 25, 2026, ex-date on April 24, 2026 and record date on April 27, 2026.
お知らせ • Mar 12Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 26, 2026Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 26, 2026, at 09:00 Taipei Standard Time. Location: no,300, sec.1 chuang ching rd., taoyuan district, taoyuan city Taiwan
Reported Earnings • Nov 17Third quarter 2025 earnings released: EPS: NT$0.61 (vs NT$0.73 in 3Q 2024)Third quarter 2025 results: EPS: NT$0.61 (down from NT$0.73 in 3Q 2024). Revenue: NT$712.7m (down 18% from 3Q 2024). Net income: NT$97.0m (down 16% from 3Q 2024). Profit margin: 14% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 15Second quarter 2025 earnings released: EPS: NT$0.80 (vs NT$0.57 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.80 (up from NT$0.57 in 2Q 2024). Revenue: NT$652.3m (down 8.7% from 2Q 2024). Net income: NT$127.5m (up 42% from 2Q 2024). Profit margin: 20% (up from 13% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Aug 14Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$25.50, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 19% over the past three years.
Reported Earnings • May 14First quarter 2025 earnings released: EPS: NT$0.17 (vs NT$0.074 in 1Q 2024)First quarter 2025 results: EPS: NT$0.17 (up from NT$0.074 in 1Q 2024). Revenue: NT$523.2m (up 22% from 1Q 2024). Net income: NT$26.8m (up 128% from 1Q 2024). Profit margin: 5.1% (up from 2.7% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
お知らせ • May 06Meiloon Industrial Co., Ltd. to Report Q1, 2025 Results on May 13, 2025Meiloon Industrial Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025
Upcoming Dividend • Apr 17Upcoming dividend of NT$1.30 per shareEligible shareholders must have bought the stock before 24 April 2025. Payment date: 29 May 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Taiwanese dividend payers (5.4%). Lower than average of industry peers (4.8%).
New Risk • Apr 08New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.20b (US$96.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 33% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (NT$3.20b market cap, or US$96.9m).
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$20.20, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 14x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 19% over the past three years.
分析記事 • Mar 26We Think Meiloon Industrial's (TWSE:2477) Robust Earnings Are ConservativeMeiloon Industrial Co., Ltd. ( TWSE:2477 ) just reported healthy earnings but the stock price didn't move much. We...
分析記事 • Mar 18Meiloon Industrial (TWSE:2477) Will Pay A Larger Dividend Than Last Year At NT$1.30The board of Meiloon Industrial Co., Ltd. ( TWSE:2477 ) has announced that it will be increasing its dividend by 160...
Reported Earnings • Mar 18Full year 2024 earnings released: EPS: NT$1.50 (vs NT$0.24 in FY 2023)Full year 2024 results: EPS: NT$1.50 (up from NT$0.24 in FY 2023). Revenue: NT$2.64b (up 13% from FY 2023). Net income: NT$237.9m (up NT$200.6m from FY 2023). Profit margin: 9.0% (up from 1.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance.
お知らせ • Mar 14Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 25, 2025Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 25, 2025, at 09:00 Taipei Standard Time. Location: no,300, sec.1 chuang ching rd., taoyuan district, taoyuan city Taiwan
Declared Dividend • Mar 14Dividend increased to NT$1.30Dividend of NT$1.30 is 160% higher than last year. Ex-date: 24th April 2025 Payment date: 29th May 2025 Dividend yield will be 4.7%, which is higher than the industry average of 4.1%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 64% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.4% EPS decline seen over the last 5 years.
お知らせ • Mar 13Meiloon Industrial Co., Ltd. announces Annual dividend, payable on May 29, 2025Meiloon Industrial Co., Ltd. announced Annual dividend of TWD 1.3000 per share payable on May 29, 2025, ex-date on April 24, 2025 and record date on April 26, 2025.
お知らせ • Mar 04Meiloon Industrial Co., Ltd. to Report Fiscal Year 2024 Results on Mar 12, 2025Meiloon Industrial Co., Ltd. announced that they will report fiscal year 2024 results on Mar 12, 2025
分析記事 • Feb 10Meiloon Industrial Co., Ltd.'s (TWSE:2477) Share Price Could Signal Some RiskIt's not a stretch to say that Meiloon Industrial Co., Ltd.'s ( TWSE:2477 ) price-to-sales (or "P/S") ratio of 1.7x...
Reported Earnings • Nov 18Third quarter 2024 earnings released: EPS: NT$0.73 (vs NT$0.32 in 3Q 2023)Third quarter 2024 results: EPS: NT$0.73 (up from NT$0.32 in 3Q 2023). Revenue: NT$864.2m (up 19% from 3Q 2023). Net income: NT$115.9m (up 127% from 3Q 2023). Profit margin: 13% (up from 7.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance.
分析記事 • Oct 29Meiloon Industrial Co., Ltd.'s (TWSE:2477) 26% Share Price Surge Not Quite Adding UpDespite an already strong run, Meiloon Industrial Co., Ltd. ( TWSE:2477 ) shares have been powering on, with a gain of...
Valuation Update With 7 Day Price Move • Oct 24Investor sentiment improves as stock rises 21%After last week's 21% share price gain to NT$34.70, the stock trades at a trailing P/E ratio of 31.1x. Average trailing P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 26% over the past three years.
分析記事 • Sep 13Meiloon Industrial Co., Ltd.'s (TWSE:2477) Shares Climb 28% But Its Business Is Yet to Catch UpMeiloon Industrial Co., Ltd. ( TWSE:2477 ) shares have continued their recent momentum with a 28% gain in the last...
Valuation Update With 7 Day Price Move • Sep 13Investor sentiment improves as stock rises 27%After last week's 27% share price gain to NT$32.05, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 16x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 19% over the past three years.
分析記事 • Aug 20Meiloon Industrial's (TWSE:2477) Solid Earnings May Rest On Weak FoundationsMeiloon Industrial Co., Ltd.'s ( TWSE:2477 ) healthy profit numbers didn't contain any surprises for investors. We...
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$0.57 (vs NT$0.08 in 2Q 2023)Second quarter 2024 results: EPS: NT$0.57 (up from NT$0.08 in 2Q 2023). Revenue: NT$714.5m (up 11% from 2Q 2023). Net income: NT$90.1m (up NT$77.5m from 2Q 2023). Profit margin: 13% (up from 2.0% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance.
New Risk • Aug 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.8% average weekly change).
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to NT$23.40, the stock trades at a trailing P/E ratio of 37.3x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 23% over the past three years.
お知らせ • Jul 31Meiloon Industrial Co., Ltd. to Report Q2, 2024 Results on Aug 07, 2024Meiloon Industrial Co., Ltd. announced that they will report Q2, 2024 results on Aug 07, 2024
分析記事 • Jul 12Investor Optimism Abounds Meiloon Industrial Co., Ltd. (TWSE:2477) But Growth Is LackingWhen close to half the companies in Taiwan have price-to-earnings ratios (or "P/E's") below 23x, you may consider...
Valuation Update With 7 Day Price Move • Jul 11Investor sentiment improves as stock rises 23%After last week's 23% share price gain to NT$27.20, the stock trades at a trailing P/E ratio of 43.3x. Average trailing P/E is 17x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 13% over the past three years.
New Risk • Jun 05New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 123% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 212% Paying a dividend despite having no free cash flows. Earnings have declined by 17% per year over the past 5 years. Minor Risk Large one-off items impacting financial results.
Reported Earnings • May 19First quarter 2024 earnings released: EPS: NT$0.07 (vs NT$0.32 loss in 1Q 2023)First quarter 2024 results: EPS: NT$0.07 (up from NT$0.32 loss in 1Q 2023). Revenue: NT$429.2m (up 12% from 1Q 2023). Net income: NT$11.7m (up NT$62.2m from 1Q 2023). Profit margin: 2.7% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance.
お知らせ • May 05Meiloon Industrial Co., Ltd. to Report Q1, 2024 Results on May 13, 2024Meiloon Industrial Co., Ltd. announced that they will report Q1, 2024 results at 9:00 AM, Taipei Standard Time on May 13, 2024
Upcoming Dividend • Apr 18Upcoming dividend of NT$0.50 per shareEligible shareholders must have bought the stock before 25 April 2024. Payment date: 31 May 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (4.6%). Lower than average of industry peers (3.5%).
Reported Earnings • Mar 19Full year 2023 earnings released: EPS: NT$0.24 (vs NT$0.59 in FY 2022)Full year 2023 results: EPS: NT$0.24 (down from NT$0.59 in FY 2022). Revenue: NT$2.33b (down 33% from FY 2022). Net income: NT$37.4m (down 60% from FY 2022). Profit margin: 1.6% (down from 2.7% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance.
New Risk • Mar 18New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.16b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 1.4% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.16b market cap, or US$99.9m).
お知らせ • Mar 14Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 27, 2024Meiloon Industrial Co., Ltd., Annual General Meeting, Jun 27, 2024. Location: MONARCH PLAZA HOTEL No.300, Sec. 1, Zhuangjing Rd., Taoyuan Dist. Taoyuan City Taiwan Agenda: To consider the Company's 2023 Business Report; to consider the Audit Committee's Review Report on 2023 Financial Statements; to consider the Distribution of Directors Remuneration and Employees Bonus for 2023; to consider the Distribution of Cash Dividend to Shareholders from 2023 Earnings; to consider the Loaning of Company and subsidiary Funds. 6.Cause for convening the meeting; to consider the Company's 2023 business report and financial statements; to consider the Company's 2023 distribution of earnings; to consider the by-Election of the Company's Directors for the 18th Term.
New Risk • Jan 19New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.16b (US$100.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 1.4% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$3.16b market cap, or US$100.0m).
Reported Earnings • Nov 14Third quarter 2023 earnings released: EPS: NT$0.32 (vs NT$0.84 in 3Q 2022)Third quarter 2023 results: EPS: NT$0.32 (down from NT$0.84 in 3Q 2022). Revenue: NT$724.4m (down 5.1% from 3Q 2022). Net income: NT$51.1m (down 61% from 3Q 2022). Profit margin: 7.1% (down from 17% in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance.
New Risk • Aug 13New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 53% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 157% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (NT$3.16b market cap, or US$99.2m).
Reported Earnings • Aug 12Second quarter 2023 earnings released: EPS: NT$0.08 (vs NT$0.11 loss in 2Q 2022)Second quarter 2023 results: EPS: NT$0.08 (up from NT$0.11 loss in 2Q 2022). Revenue: NT$643.4m (down 40% from 2Q 2022). Net income: NT$12.7m (up NT$29.9m from 2Q 2022). Profit margin: 2.0% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
New Risk • Aug 11New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: NT$3.16b (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 250% Cash payout ratio: 207% Minor Risks Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (NT$3.16b market cap, or US$99.4m).
Upcoming Dividend • Apr 20Upcoming dividend of NT$0.80 per share at 3.7% yieldEligible shareholders must have bought the stock before 27 April 2023. Payment date: 01 June 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.7%. Lower than top quartile of Taiwanese dividend payers (5.7%). Lower than average of industry peers (4.2%).
Reported Earnings • Mar 30Full year 2022 earnings released: EPS: NT$0.50 (vs NT$10.33 in FY 2021)Full year 2022 results: EPS: NT$0.50 (down from NT$10.33 in FY 2021). Revenue: NT$3.49b (down 7.3% from FY 2021). Net income: NT$93.3m (down 94% from FY 2021). Profit margin: 2.7% (down from 44% in FY 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 6% per year.
Valuation Update With 7 Day Price Move • Nov 30Investor sentiment deteriorated over the past weekAfter last week's 20% share price decline to NT$18.70, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 13x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 25% over the past three years.
Upcoming Dividend • Nov 17Upcoming dividend of NT$2.00 per shareEligible shareholders must have bought the stock before 24 November 2022. Payment date: 05 December 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 8.0%. Within top quartile of Taiwanese dividend payers (7.0%). Higher than average of industry peers (5.0%).
Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: NT$0.68 (vs NT$0.32 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.68 (up from NT$0.32 in 3Q 2021). Revenue: NT$763.7m (down 24% from 3Q 2021). Net income: NT$132.5m (up 108% from 3Q 2021). Profit margin: 17% (up from 6.3% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Reported Earnings • Nov 13Third quarter 2022 earnings released: EPS: NT$0.68 (vs NT$0.32 in 3Q 2021)Third quarter 2022 results: EPS: NT$0.68 (up from NT$0.32 in 3Q 2021). Revenue: NT$763.7m (down 24% from 3Q 2021). Net income: NT$132.5m (up 108% from 3Q 2021). Profit margin: 17% (up from 6.3% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Nov 02Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$18.80, the stock trades at a trailing P/E ratio of 64.6x. Average trailing P/E is 13x in the Consumer Durables industry in Taiwan. Total loss to shareholders of 8.6% over the past three years.
Buying Opportunity • Oct 21Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 22%. The fair value is estimated to be NT$20.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 34%.
Buying Opportunity • Sep 28Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be NT$22.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 34%.
Reported Earnings • Aug 15Second quarter 2022 earnings released: NT$0.09 loss per share (vs NT$0.51 profit in 2Q 2021)Second quarter 2022 results: NT$0.09 loss per share (down from NT$0.51 profit in 2Q 2021). Revenue: NT$1.07b (up 17% from 2Q 2021). Net loss: NT$17.2m (down 117% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jul 04Upcoming dividend of NT$1.50 per shareEligible shareholders must have bought the stock before 11 July 2022. Payment date: 12 August 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 7.1%. Within top quartile of Taiwanese dividend payers (6.7%). Higher than average of industry peers (5.1%).
Reported Earnings • May 17First quarter 2022 earnings released: NT$0.04 loss per share (vs NT$7.34 profit in 1Q 2021)First quarter 2022 results: NT$0.04 loss per share (down from NT$7.34 profit in 1Q 2021). Revenue: NT$980.4m (up 36% from 1Q 2021). Net loss: NT$7.97m (down 100% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 31Full year 2021 earnings released: EPS: NT$8.27 (vs NT$0.92 in FY 2020)Full year 2021 results: EPS: NT$8.27 (up from NT$0.92 in FY 2020). Revenue: NT$3.76b (up 23% from FY 2020). Net income: NT$1.64b (up NT$1.46b from FY 2020). Profit margin: 44% (up from 6.0% in FY 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Mar 24Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to NT$29.20, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 13x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 74% over the past three years.
Reported Earnings • Nov 13Third quarter 2021 earnings released: EPS NT$0.32 (vs NT$0.26 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.00b (up 22% from 3Q 2020). Net income: NT$63.7m (up 24% from 3Q 2020). Profit margin: 6.3% (up from 6.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 13Second quarter 2021 earnings released: EPS NT$0.51 (vs NT$0.43 in 2Q 2020)The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: NT$914.4m (up 30% from 2Q 2020). Net income: NT$101.2m (up 18% from 2Q 2020). Profit margin: 11% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Aug 03Upcoming dividend of NT$1.45 per shareEligible shareholders must have bought the stock before 10 August 2021. Payment date: 08 September 2021. Trailing yield: 4.4%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (3.5%).
Valuation Update With 7 Day Price Move • Jun 16Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$37.50, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 12x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 82% over the past three years.
Reported Earnings • May 14First quarter 2021 earnings released: EPS NT$7.34 (vs NT$0.029 loss in 1Q 2020)First quarter 2021 results: Revenue: NT$723.8m (up 33% from 1Q 2020). Net income: NT$1.45b (up NT$1.46b from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Apr 14Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$39.35, the stock trades at a trailing P/E ratio of 42.6x. Average trailing P/E is 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders of 57% over the past three years.
Reported Earnings • Mar 30Full year 2020 earnings released: EPS NT$0.92 (vs NT$2.12 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$3.05b (down 21% from FY 2019). Net income: NT$183.2m (down 56% from FY 2019). Profit margin: 6.0% (down from 11% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
分析記事 • Mar 21Here’s What’s Happening With Returns At Meiloon Industrial (TPE:2477)If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Valuation Update With 7 Day Price Move • Mar 12Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$35.50, the stock is trading at a trailing P/E ratio of 25.2x, up from the previous P/E ratio of 21.5x. This compares to an average P/E of 15x in the Consumer Durables industry in Taiwan. Total returns to shareholders over the past three years are 34%.
分析記事 • Mar 03Here's Why Meiloon Industrial (TPE:2477) Can Manage Its Debt ResponsiblyDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
分析記事 • Feb 13Are Meiloon Industrial's (TPE:2477) Statutory Earnings A Good Reflection Of Its Earnings Potential?As a general rule, we think profitable companies are less risky than companies that lose money. However, sometimes...
Is New 90 Day High Low • Feb 01New 90-day low: NT$28.65The company is down 3.0% from its price of NT$29.45 on 03 November 2020. The Taiwanese market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 9.0% over the same period.
分析記事 • Jan 28Read This Before Buying Meiloon Industrial Co., Ltd. (TPE:2477) For Its DividendToday we'll take a closer look at Meiloon Industrial Co., Ltd. ( TPE:2477 ) from a dividend investor's perspective...
分析記事 • Jan 13Meiloon Industrial Co., Ltd.'s (TPE:2477) Stock's Been Going Strong: Could Weak Financials Mean The Market Will Coorect Its Share Price?Meiloon Industrial's (TPE:2477) stock is up by a considerable 42% over the past three months. We, however wanted to...
Is New 90 Day High Low • Dec 31New 90-day high: NT$35.00The company is up 52% from its price of NT$23.00 on 30 September 2020. The Taiwanese market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 11% over the same period.
分析記事 • Dec 29Meiloon Industrial (TPE:2477) Has Gifted Shareholders With A Fantastic 216% 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...
分析記事 • Dec 14Will Meiloon Industrial's (TPE:2477) Growth In ROCE Persist?Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want...
分析記事 • Nov 29Meiloon Industrial (TPE:2477) Seems To Use Debt Quite SensiblyLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$0.26The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: NT$820.5m (down 15% from 3Q 2019). Net income: NT$51.3m (down 48% from 3Q 2019). Profit margin: 6.2% (down from 10% in 3Q 2019). The decrease in margin was driven by lower revenue. 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 3% per year.
Valuation Update With 7 Day Price Move • Nov 12Market bids up stock over the past weekAfter last week's 16% share price gain to NT$33.75, the stock is trading at a trailing P/E ratio of 20.5x, up from the previous P/E ratio of 17.7x. This compares to an average P/E of 19x in the Consumer Durables industry in Taiwan. Total returns to shareholders over the past three years are 32%.
Is New 90 Day High Low • Nov 11New 90-day high: NT$30.80The company is up 40% from its price of NT$21.95 on 13 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 9.0% over the same period.
Valuation Update With 7 Day Price Move • Oct 19Market bids up stock over the past weekAfter last week's 16% share price gain to NT$26.95, the stock is trading at a trailing P/E ratio of 16.4x, up from the previous P/E ratio of 14.1x. This compares to an average P/E of 18x in the Consumer Durables industry in Taiwan. Total return to shareholders over the past three years is a loss of 4.1%.
Is New 90 Day High Low • Oct 14New 90-day high: NT$24.25The company is up 12% from its price of NT$21.60 on 16 July 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is down 1.0% over the same period.
