View Future GrowthTopkey 過去の業績過去 基準チェック /26Topkeyは、平均年間7.4%の収益成長を遂げていますが、 Leisure業界の収益は、年間 減少しています。収益は、平均年間16.4% 1.7%収益成長率で 成長しています。 Topkeyの自己資本利益率は14%であり、純利益率は13.4%です。主要情報7.42%収益成長率7.25%EPS成長率Leisure 業界の成長20.69%収益成長率1.71%株主資本利益率14.02%ネット・マージン13.37%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • May 15First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: NT$3.00 (down from NT$5.11 in 1Q 2025). Revenue: NT$2.32b (down 3.5% from 1Q 2025). Net income: NT$327.9m (down 29% from 1Q 2025). Profit margin: 14% (down from 19% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 8% per year.Reported Earnings • Mar 18Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: NT$14.92 (down from NT$18.86 in FY 2024). Revenue: NT$9.20b (down 2.9% from FY 2024). Net income: NT$1.35b (down 21% from FY 2024). Profit margin: 15% (down from 18% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 3.0%. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 9% per year.Reported Earnings • Nov 17Third quarter 2025 earnings: EPS misses analyst expectationsThird quarter 2025 results: EPS: NT$3.86 (up from NT$3.52 in 3Q 2024). Revenue: NT$2.42b (down 7.0% from 3Q 2024). Net income: NT$350.9m (up 9.7% from 3Q 2024). Profit margin: 14% (up from 12% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.2%. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings.Reported Earnings • Aug 16Second quarter 2025 earnings: Revenues and EPS in line with analyst expectationsSecond quarter 2025 results: EPS: NT$3.11 (down from NT$4.32 in 2Q 2024). Revenue: NT$2.51b (up 8.3% from 2Q 2024). Net income: NT$282.5m (down 28% from 2Q 2024). Profit margin: 11% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$5.11 (vs NT$4.30 in 1Q 2024)First quarter 2025 results: EPS: NT$5.11 (up from NT$4.30 in 1Q 2024). Revenue: NT$2.40b (up 26% from 1Q 2024). Net income: NT$463.9m (up 19% from 1Q 2024). Profit margin: 19% (down from 21% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.お知らせ • May 01Topkey Corporation to Report Q1, 2025 Results on May 08, 2025Topkey Corporation announced that they will report Q1, 2025 results on May 08, 2025すべての更新を表示Recent updatesReported Earnings • May 15First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: NT$3.00 (down from NT$5.11 in 1Q 2025). Revenue: NT$2.32b (down 3.5% from 1Q 2025). Net income: NT$327.9m (down 29% from 1Q 2025). Profit margin: 14% (down from 19% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 8% per year.Declared Dividend • May 14Dividend reduced to NT$8.00Dividend of NT$8.00 is 27% lower than last year. Ex-date: 16th July 2026 Payment date: 13th August 2026 Dividend yield will be 5.3%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.Reported Earnings • Mar 18Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: NT$14.92 (down from NT$18.86 in FY 2024). Revenue: NT$9.20b (down 2.9% from FY 2024). Net income: NT$1.35b (down 21% from FY 2024). Profit margin: 15% (down from 18% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 3.0%. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 9% per year.お知らせ • Mar 13Topkey Corporation, Annual General Meeting, Jun 09, 2026Topkey Corporation, Annual General Meeting, Jun 09, 2026. Location: no,18, hsing k`o rd., kuang fu li, houli district, taichung city TaiwanReported Earnings • Nov 17Third quarter 2025 earnings: EPS misses analyst expectationsThird quarter 2025 results: EPS: NT$3.86 (up from NT$3.52 in 3Q 2024). Revenue: NT$2.42b (down 7.0% from 3Q 2024). Net income: NT$350.9m (up 9.7% from 3Q 2024). Profit margin: 14% (up from 12% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.2%. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings.New Risk • Sep 30New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.9% 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 0.9% 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.Reported Earnings • Aug 16Second quarter 2025 earnings: Revenues and EPS in line with analyst expectationsSecond quarter 2025 results: EPS: NT$3.11 (down from NT$4.32 in 2Q 2024). Revenue: NT$2.51b (up 8.3% from 2Q 2024). Net income: NT$282.5m (down 28% from 2Q 2024). Profit margin: 11% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Declared Dividend • Jun 28Dividend increased to NT$11.00Dividend of NT$11.00 is 29% higher than last year. Ex-date: 16th July 2025 Payment date: 15th August 2025 Dividend yield will be 5.9%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 9.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$5.11 (vs NT$4.30 in 1Q 2024)First quarter 2025 results: EPS: NT$5.11 (up from NT$4.30 in 1Q 2024). Revenue: NT$2.40b (up 26% from 1Q 2024). Net income: NT$463.9m (up 19% from 1Q 2024). Profit margin: 19% (down from 21% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.お知らせ • May 01Topkey Corporation to Report Q1, 2025 Results on May 08, 2025Topkey Corporation announced that they will report Q1, 2025 results on May 08, 2025Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$162, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Leisure industry in Taiwan. Total returns to shareholders of 46% over the past three years.Reported Earnings • Mar 05Full year 2024 earnings: EPS exceeds analyst expectationsFull year 2024 results: EPS: NT$18.86 (up from NT$15.58 in FY 2023). Revenue: NT$9.48b (up 2.3% from FY 2023). Net income: NT$1.71b (up 21% from FY 2023). Profit margin: 18% (up from 15% in FY 2023). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Mar 03Topkey Corporation, Annual General Meeting, May 28, 2025Topkey Corporation, Annual General Meeting, May 28, 2025. Location: b1 floor no,17, kung yeh ou rd., nan tun district, taichung city Taiwanお知らせ • Feb 20Topkey Corporation to Report Q4, 2024 Results on Feb 27, 2025Topkey Corporation announced that they will report Q4, 2024 results on Feb 27, 2025Reported Earnings • Nov 13Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: NT$3.52 (down from NT$4.19 in 3Q 2023). Revenue: NT$2.60b (up 31% from 3Q 2023). Net income: NT$319.9m (down 16% from 3Q 2023). Profit margin: 12% (down from 19% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 26%. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year.Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$4.33 (vs NT$5.20 in 2Q 2023)Second quarter 2024 results: EPS: NT$4.33 (down from NT$5.20 in 2Q 2023). Revenue: NT$2.32b (down 7.2% from 2Q 2023). Net income: NT$392.4m (down 17% from 2Q 2023). Profit margin: 17% (down from 19% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.お知らせ • Aug 01Topkey Corporation to Report Q2, 2024 Results on Aug 08, 2024Topkey Corporation announced that they will report Q2, 2024 results on Aug 08, 2024Upcoming Dividend • Jul 08Upcoming dividend of NT$8.50 per shareEligible shareholders must have bought the stock before 15 July 2024. Payment date: 15 August 2024. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.8%).分析記事 • Jun 17Topkey's (TWSE:4536) Dividend Is Being Reduced To NT$8.50Topkey Corporation ( TWSE:4536 ) is reducing its dividend from last year's comparable payment to NT$8.50 on the 15th of...分析記事 • Jun 03Topkey (TWSE:4536) Is Reducing Its Dividend To NT$8.50Topkey Corporation's ( TWSE:4536 ) dividend is being reduced from last year's payment covering the same period to...Declared Dividend • Jun 03Dividend reduced to NT$8.50Dividend of NT$8.50 is 23% lower than last year. Ex-date: 15th July 2024 Payment date: 15th August 2024 Dividend yield will be 4.2%, which is lower than the industry average of 5.0%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 5.4% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.お知らせ • Jun 01Topkey Corporation Approves Cash Dividend, Payable on August 15, 2024Topkey Corporation announced at shareholders meeting held on May 31, 2024, the shareholders approved cash dividend of TWD 771,970,000 (TWD 8.5 per share). Ex-rights (ex-dividend) trading date: July 15, 2024. Ex-rights (ex-dividend) record date: July 21, 2024. Payment date of common stock cash dividend distribution: August 15, 2024.Reported Earnings • May 18First quarter 2024 earnings released: EPS: NT$4.30 (vs NT$3.60 in 1Q 2023)First quarter 2024 results: EPS: NT$4.30 (up from NT$3.60 in 1Q 2023). Revenue: NT$1.90b (down 31% from 1Q 2023). Net income: NT$390.9m (up 20% from 1Q 2023). Profit margin: 21% (up from 12% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.お知らせ • May 03Topkey Corporation to Report Q1, 2024 Results on May 09, 2024Topkey Corporation announced that they will report Q1, 2024 results on May 09, 2024お知らせ • Mar 01Topkey Corporation, Annual General Meeting, May 31, 2024Topkey Corporation, Annual General Meeting, May 31, 2024. Location: Topkey Meeting Room #B1 Taichung Taiwan Agenda: To consider 2023 Business Report; to consider The 2023 Audit Committee review report; and to consider other matters.New Risk • Nov 30New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 24% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results.Reported Earnings • Aug 13Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: NT$5.20 (down from NT$7.88 in 2Q 2022). Revenue: NT$2.50b (down 6.5% from 2Q 2022). Net income: NT$472.6m (down 34% from 2Q 2022). Profit margin: 19% (down from 27% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue exceeded analyst estimates by 9.5%. Earnings per share (EPS) also surpassed analyst estimates by 115%. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jul 06Upcoming dividend of NT$11.00 per share at 5.6% yieldEligible shareholders must have bought the stock before 13 July 2023. Payment date: 15 August 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.2%).Reported Earnings • Mar 30Full year 2022 earnings: EPS exceeds analyst expectationsFull year 2022 results: EPS: NT$24.89 (up from NT$9.16 in FY 2021). Revenue: NT$11.0b (up 26% from FY 2021). Net income: NT$2.26b (up 172% from FY 2021). Profit margin: 21% (up from 9.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Mar 13Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$206, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Leisure industry in Taiwan. Total returns to shareholders of 126% over the past three years.Valuation Update With 7 Day Price Move • Dec 07Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$201, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Leisure industry in Taiwan. Total returns to shareholders of 78% over the past three years.Reported Earnings • Nov 16Third quarter 2022 earnings: EPS exceeds analyst expectationsThird quarter 2022 results: EPS: NT$9.37 (up from NT$1.81 in 3Q 2021). Revenue: NT$3.17b (up 35% from 3Q 2021). Net income: NT$851.6m (up 418% from 3Q 2021). Profit margin: 27% (up from 7.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 43%. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Cherng Lee was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 13Third quarter 2022 earnings: EPS exceeds analyst expectationsThird quarter 2022 results: EPS: NT$9.37 (up from NT$1.81 in 3Q 2021). Revenue: NT$3.17b (up 35% from 3Q 2021). Net income: NT$851.6m (up 418% from 3Q 2021). Profit margin: 27% (up from 7.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 43%. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Major Estimate Revision • Oct 25Consensus EPS estimates increase by 13%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$9.80b to NT$10.5b. EPS estimate increased from NT$18.88 to NT$21.31 per share. Net income forecast to grow 22% next year vs 1.3% growth forecast for Leisure industry in Taiwan. Consensus price target up from NT$158 to NT$176. Share price fell 6.8% to NT$158 over the past week.Reported Earnings • Aug 15Second quarter 2022 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2022 results: EPS: NT$7.88 (up from NT$1.99 in 2Q 2021). Revenue: NT$2.68b (up 47% from 2Q 2021). Net income: NT$715.4m (up 295% from 2Q 2021). Profit margin: 27% (up from 9.9% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 198%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.Upcoming Dividend • Jul 25Upcoming dividend of NT$6.00 per shareEligible shareholders must have bought the stock before 01 August 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (6.6%). In line with average of industry peers (4.4%).お知らせ • Jul 22Topkey Corporation Provides Earnings Guidance for 2022Topkey Corporation provides earnings guidance for 2022. The Company's annual consolidated revenue is expected to reach TWD 10.2 billion, and EPS will challenge TWD 15 both of which are expected to hit record highs.Price Target Changed • Jun 15Price target decreased to NT$158Down from NT$185, the current price target is provided by 1 analyst. New target price is 20% above last closing price of NT$132. Stock is down 15% over the past year. The company is forecast to post earnings per share of NT$12.38 for next year compared to NT$9.16 last year.Reported Earnings • Jun 05First quarter 2022 earnings: EPS exceeds analyst expectationsFirst quarter 2022 results: EPS: NT$3.15 (up from NT$2.51 in 1Q 2021). Revenue: NT$2.18b (up 8.6% from 1Q 2021). Net income: NT$286.0m (up 26% from 1Q 2021). Profit margin: 13% (up from 11% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 4% per year.お知らせ • May 29+ 1 more updateTopkey Corporation Appoints Cherng Lee¡ to the Member of Audit CommitteeTopkey Corporation approved the appointment of Cherng Lee¡ to the Member of Audit Committee, effective from May 27, 2022.お知らせ • May 28Topkey Corporation Appoints Chu,Tong-Chen as Vice Chairperson of the Board of DirectorsTopkey Corporation appointed Chu,Tong-Chen as Vice Chairperson of the Board of Directors, effective from May 27, 2022.Board Change • Apr 27Less 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. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Ying-Hwang Yang was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Mar 30Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: NT$9.16 (up from NT$7.48 in FY 2020). Revenue: NT$8.69b (up 20% from FY 2020). Net income: NT$831.6m (up 23% from FY 2020). Profit margin: 9.6% (in line with FY 2020). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 7.1%, compared to a 10% growth forecast for the industry in Taiwan. 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 5% per year.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$1.81 (vs NT$2.39 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$2.35b (up 15% from 3Q 2020). Net income: NT$164.2m (down 24% from 3Q 2020). Profit margin: 7.0% (down from 11% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings.Price Target Changed • Sep 27Price target decreased to NT$169Down from NT$188, the current price target is an average from 2 analysts. New target price is 17% above last closing price of NT$145. Stock is up 2.5% over the past year.Major Estimate Revision • Aug 20Consensus EPS estimates fall to NT$10.01The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from NT$8.42b to NT$8.30b. EPS estimate also fell from NT$11.17 to NT$10.01. Net income forecast to grow 23% next year vs 17% growth forecast for Leisure industry in Taiwan. Consensus price target broadly unchanged at NT$185. Share price was steady at NT$140 over the past week.Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS NT$1.99 (vs NT$2.35 in 2Q 2020)The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: NT$1.82b (flat on 2Q 2020). Net income: NT$181.1m (down 15% from 2Q 2020). Profit margin: 9.9% (down from 12% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.Upcoming Dividend • Aug 06Upcoming dividend of NT$5.00 per shareEligible shareholders must have bought the stock before 13 August 2021. Payment date: 09 September 2021. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.6%).Price Target Changed • Jul 16Price target decreased to NT$188Down from NT$217, the current price target is provided by 1 analyst. New target price is 28% above last closing price of NT$147. Stock is down 8.1% over the past year.Executive Departure • May 27Chief Operating Officer of Business Group has left the companyOn the 17th of May, G. James Hsu's tenure as Chief Operating Officer of Business Group ended after 1.4 years in the role. We don't have any record of a personal shareholding under G. James' name. G. James is the only executive to leave the company over the last 12 months.Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$2.51 (vs NT$0.72 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.01b (up 47% from 1Q 2020). Net income: NT$227.7m (up 247% from 1Q 2020). Profit margin: 11% (up from 4.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth.分析記事 • Apr 12At NT$178, Is It Time To Put Topkey Corporation (TPE:4536) On Your Watch List?While Topkey Corporation ( TPE:4536 ) might not be the most widely known stock at the moment, it received a lot of...Reported Earnings • Mar 30Full year 2020 earnings released: EPS NT$7.48 (vs NT$9.53 in FY 2019)The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: NT$7.23b (flat on FY 2019). Net income: NT$679.0m (down 22% from FY 2019). Profit margin: 9.4% (down from 12% in FY 2019). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth.分析記事 • Mar 21Should You Invest In Topkey (TPE:4536)?To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd...お知らせ • Mar 10Topkey Corporation, Annual General Meeting, May 26, 2021Topkey Corporation, Annual General Meeting, May 26, 2021. Location: Topkey Meeting Room #B1 No.17,20th Rd.,Industrial Park Taichung Taiwan Agenda: To consider the 2020 business report; to consider the 2020 audit committee review report; to consider the 2020 remuneration of employees and directors; to consider the amendments to the “Procedures for Ethical Management and Guidelines for Conduct"; to consider the amendments to the ”Codes of Ethical Conduct”; to consider the amendments to the ”Management of Operation of Board Meeting”; to consider the 2020 business report and financial statements; to consider the 2020 retained earnings distribution; to discuss and approve the amendments to “Procedures for Election of Directors” of the company; to o discuss and approve the amendments to “Rules of Procedure for Shareholders Meetings ” of the company; and to consider the other matters.分析記事 • Mar 08Is Topkey Corporation (TPE:4536) A Smart Pick For Income Investors?Dividend paying stocks like Topkey Corporation ( TPE:4536 ) tend to be popular with investors, and for good reason...Is New 90 Day High Low • Mar 04New 90-day high: NT$169The company is up 3.0% from its price of NT$164 on 04 December 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$137 per share.分析記事 • Feb 22Is Topkey (TPE:4536) Using Too Much Debt?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 • Feb 08Topkey (TPE:4536) Shareholders Have Enjoyed A 64% Share Price GainTopkey Corporation ( TPE:4536 ) shareholders might be concerned after seeing the share price drop 10% in the last...Is New 90 Day High Low • Jan 26New 90-day low: NT$146The company is down 6.0% from its price of NT$154 on 28 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$139 per share.分析記事 • Jan 25Are Topkey Corporation's (TPE:4536) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?It is hard to get excited after looking at Topkey's (TPE:4536) recent performance, when its stock has declined 5.0...分析記事 • Jan 11Is Topkey Corporation (TPE:4536) Potentially Undervalued?Topkey Corporation ( TPE:4536 ), might not be a large cap stock, but it received a lot of attention from a substantial...分析記事 • Dec 28Calculating The Intrinsic Value Of Topkey Corporation (TPE:4536)How far off is Topkey Corporation ( TPE:4536 ) from its intrinsic value? Using the most recent financial data, we'll...分析記事 • Dec 13The 21% Return On Capital At Topkey (TPE:4536) Got Our AttentionIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...分析記事 • Nov 30Is Topkey Corporation (TPE:4536) The Right Choice For A Smart Dividend Investor?Dividend paying stocks like Topkey Corporation (TPE:4536) tend to be popular with investors, and for good reason...Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$2.39The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$2.04b (up 2.6% from 3Q 2019). Net income: NT$217.1m (down 14% from 3Q 2019). Profit margin: 11% (down from 13% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth.Price Target Changed • Oct 15Price target raised to NT$184Up from NT$165, the current price target is an average from 2 analysts. The new target price is 18% above the current share price of NT$155. As of last close, the stock is up 12% over the past year.収支内訳Topkey 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:4536 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 269,1181,2191,02551831 Dec 259,2031,3551,02250630 Sep 259,9901,7071,01850330 Jun 2510,1731,6761,01249931 Mar 259,9801,78699749131 Dec 249,4781,71396146930 Sep 248,8411,33989645030 Jun 248,2281,40087244031 Mar 248,4091,48087843731 Dec 239,2671,41588044830 Sep 2310,1841,58683143730 Jun 2311,3672,05891043431 Mar 2311,5392,30194242631 Dec 2210,9652,26093840330 Sep 2210,5392,1121,05038430 Jun 229,7181,42497936631 Mar 228,86589089334931 Dec 218,69283287434230 Sep 218,19475683333330 Jun 217,88380980732031 Mar 217,87584181531631 Dec 207,23467977531130 Sep 206,84962475232230 Jun 206,79866077033931 Mar 206,95975278435531 Dec 197,22586681437230 Sep 197,40896482637730 Jun 197,51196182638531 Mar 197,4851,00483038231 Dec 187,39884580537830 Sep 187,30371677640630 Jun 186,96862276839931 Mar 186,67949074639531 Dec 176,31648374339030 Sep 176,14063673938730 Jun 176,14968074138731 Mar 176,22065675538231 Dec 166,21677981137930 Sep 166,28266383137230 Jun 166,42870685737531 Mar 166,42268185137431 Dec 156,65161181336930 Sep 156,75963981235530 Jun 156,680602776338質の高い収益: 4536は 高品質の収益 を持っています。利益率の向上: 4536の現在の純利益率 (13.4%)は、昨年(17.9%)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: 4536の収益は過去 5 年間で年間7.4%増加しました。成長の加速: 4536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: 4536は過去 1 年間で収益成長率がマイナス ( -31.8% ) となったため、 Leisure業界平均 ( -28.6% ) と比較することが困難です。株主資本利益率高いROE: 4536の 自己資本利益率 ( 14% ) 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2026/05/22 02:17終値2026/05/22 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Topkey Corporation 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。6 アナリスト機関Angus ChuangKGI Securities Co. Ltd.Corinne JianMacquarie ResearchLiangyu KoMasterlink Securities Investment Advisory3 その他のアナリストを表示
Reported Earnings • May 15First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: NT$3.00 (down from NT$5.11 in 1Q 2025). Revenue: NT$2.32b (down 3.5% from 1Q 2025). Net income: NT$327.9m (down 29% from 1Q 2025). Profit margin: 14% (down from 19% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 8% per year.
Reported Earnings • Mar 18Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: NT$14.92 (down from NT$18.86 in FY 2024). Revenue: NT$9.20b (down 2.9% from FY 2024). Net income: NT$1.35b (down 21% from FY 2024). Profit margin: 15% (down from 18% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 3.0%. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 9% per year.
Reported Earnings • Nov 17Third quarter 2025 earnings: EPS misses analyst expectationsThird quarter 2025 results: EPS: NT$3.86 (up from NT$3.52 in 3Q 2024). Revenue: NT$2.42b (down 7.0% from 3Q 2024). Net income: NT$350.9m (up 9.7% from 3Q 2024). Profit margin: 14% (up from 12% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.2%. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
Reported Earnings • Aug 16Second quarter 2025 earnings: Revenues and EPS in line with analyst expectationsSecond quarter 2025 results: EPS: NT$3.11 (down from NT$4.32 in 2Q 2024). Revenue: NT$2.51b (up 8.3% from 2Q 2024). Net income: NT$282.5m (down 28% from 2Q 2024). Profit margin: 11% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$5.11 (vs NT$4.30 in 1Q 2024)First quarter 2025 results: EPS: NT$5.11 (up from NT$4.30 in 1Q 2024). Revenue: NT$2.40b (up 26% from 1Q 2024). Net income: NT$463.9m (up 19% from 1Q 2024). Profit margin: 19% (down from 21% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.
お知らせ • May 01Topkey Corporation to Report Q1, 2025 Results on May 08, 2025Topkey Corporation announced that they will report Q1, 2025 results on May 08, 2025
Reported Earnings • May 15First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: NT$3.00 (down from NT$5.11 in 1Q 2025). Revenue: NT$2.32b (down 3.5% from 1Q 2025). Net income: NT$327.9m (down 29% from 1Q 2025). Profit margin: 14% (down from 19% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 8% per year.
Declared Dividend • May 14Dividend reduced to NT$8.00Dividend of NT$8.00 is 27% lower than last year. Ex-date: 16th July 2026 Payment date: 13th August 2026 Dividend yield will be 5.3%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.
Reported Earnings • Mar 18Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: NT$14.92 (down from NT$18.86 in FY 2024). Revenue: NT$9.20b (down 2.9% from FY 2024). Net income: NT$1.35b (down 21% from FY 2024). Profit margin: 15% (down from 18% in FY 2024). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 3.0%. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 9% per year.
お知らせ • Mar 13Topkey Corporation, Annual General Meeting, Jun 09, 2026Topkey Corporation, Annual General Meeting, Jun 09, 2026. Location: no,18, hsing k`o rd., kuang fu li, houli district, taichung city Taiwan
Reported Earnings • Nov 17Third quarter 2025 earnings: EPS misses analyst expectationsThird quarter 2025 results: EPS: NT$3.86 (up from NT$3.52 in 3Q 2024). Revenue: NT$2.42b (down 7.0% from 3Q 2024). Net income: NT$350.9m (up 9.7% from 3Q 2024). Profit margin: 14% (up from 12% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.2%. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
New Risk • Sep 30New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.9% 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 0.9% 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.
Reported Earnings • Aug 16Second quarter 2025 earnings: Revenues and EPS in line with analyst expectationsSecond quarter 2025 results: EPS: NT$3.11 (down from NT$4.32 in 2Q 2024). Revenue: NT$2.51b (up 8.3% from 2Q 2024). Net income: NT$282.5m (down 28% from 2Q 2024). Profit margin: 11% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Declared Dividend • Jun 28Dividend increased to NT$11.00Dividend of NT$11.00 is 29% higher than last year. Ex-date: 16th July 2025 Payment date: 15th August 2025 Dividend yield will be 5.9%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 9.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 15First quarter 2025 earnings released: EPS: NT$5.11 (vs NT$4.30 in 1Q 2024)First quarter 2025 results: EPS: NT$5.11 (up from NT$4.30 in 1Q 2024). Revenue: NT$2.40b (up 26% from 1Q 2024). Net income: NT$463.9m (up 19% from 1Q 2024). Profit margin: 19% (down from 21% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.
お知らせ • May 01Topkey Corporation to Report Q1, 2025 Results on May 08, 2025Topkey Corporation announced that they will report Q1, 2025 results on May 08, 2025
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$162, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Leisure industry in Taiwan. Total returns to shareholders of 46% over the past three years.
Reported Earnings • Mar 05Full year 2024 earnings: EPS exceeds analyst expectationsFull year 2024 results: EPS: NT$18.86 (up from NT$15.58 in FY 2023). Revenue: NT$9.48b (up 2.3% from FY 2023). Net income: NT$1.71b (up 21% from FY 2023). Profit margin: 18% (up from 15% in FY 2023). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Mar 03Topkey Corporation, Annual General Meeting, May 28, 2025Topkey Corporation, Annual General Meeting, May 28, 2025. Location: b1 floor no,17, kung yeh ou rd., nan tun district, taichung city Taiwan
お知らせ • Feb 20Topkey Corporation to Report Q4, 2024 Results on Feb 27, 2025Topkey Corporation announced that they will report Q4, 2024 results on Feb 27, 2025
Reported Earnings • Nov 13Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: NT$3.52 (down from NT$4.19 in 3Q 2023). Revenue: NT$2.60b (up 31% from 3Q 2023). Net income: NT$319.9m (down 16% from 3Q 2023). Profit margin: 12% (down from 19% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 26%. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 15% per year.
Reported Earnings • Aug 17Second quarter 2024 earnings released: EPS: NT$4.33 (vs NT$5.20 in 2Q 2023)Second quarter 2024 results: EPS: NT$4.33 (down from NT$5.20 in 2Q 2023). Revenue: NT$2.32b (down 7.2% from 2Q 2023). Net income: NT$392.4m (down 17% from 2Q 2023). Profit margin: 17% (down from 19% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
お知らせ • Aug 01Topkey Corporation to Report Q2, 2024 Results on Aug 08, 2024Topkey Corporation announced that they will report Q2, 2024 results on Aug 08, 2024
Upcoming Dividend • Jul 08Upcoming dividend of NT$8.50 per shareEligible shareholders must have bought the stock before 15 July 2024. Payment date: 15 August 2024. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Taiwanese dividend payers (4.2%). Higher than average of industry peers (2.8%).
分析記事 • Jun 17Topkey's (TWSE:4536) Dividend Is Being Reduced To NT$8.50Topkey Corporation ( TWSE:4536 ) is reducing its dividend from last year's comparable payment to NT$8.50 on the 15th of...
分析記事 • Jun 03Topkey (TWSE:4536) Is Reducing Its Dividend To NT$8.50Topkey Corporation's ( TWSE:4536 ) dividend is being reduced from last year's payment covering the same period to...
Declared Dividend • Jun 03Dividend reduced to NT$8.50Dividend of NT$8.50 is 23% lower than last year. Ex-date: 15th July 2024 Payment date: 15th August 2024 Dividend yield will be 4.2%, which is lower than the industry average of 5.0%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 5.4% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 8.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
お知らせ • Jun 01Topkey Corporation Approves Cash Dividend, Payable on August 15, 2024Topkey Corporation announced at shareholders meeting held on May 31, 2024, the shareholders approved cash dividend of TWD 771,970,000 (TWD 8.5 per share). Ex-rights (ex-dividend) trading date: July 15, 2024. Ex-rights (ex-dividend) record date: July 21, 2024. Payment date of common stock cash dividend distribution: August 15, 2024.
Reported Earnings • May 18First quarter 2024 earnings released: EPS: NT$4.30 (vs NT$3.60 in 1Q 2023)First quarter 2024 results: EPS: NT$4.30 (up from NT$3.60 in 1Q 2023). Revenue: NT$1.90b (down 31% from 1Q 2023). Net income: NT$390.9m (up 20% from 1Q 2023). Profit margin: 21% (up from 12% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
お知らせ • May 03Topkey Corporation to Report Q1, 2024 Results on May 09, 2024Topkey Corporation announced that they will report Q1, 2024 results on May 09, 2024
お知らせ • Mar 01Topkey Corporation, Annual General Meeting, May 31, 2024Topkey Corporation, Annual General Meeting, May 31, 2024. Location: Topkey Meeting Room #B1 Taichung Taiwan Agenda: To consider 2023 Business Report; to consider The 2023 Audit Committee review report; and to consider other matters.
New Risk • Nov 30New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 24% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results.
Reported Earnings • Aug 13Second quarter 2023 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2023 results: EPS: NT$5.20 (down from NT$7.88 in 2Q 2022). Revenue: NT$2.50b (down 6.5% from 2Q 2022). Net income: NT$472.6m (down 34% from 2Q 2022). Profit margin: 19% (down from 27% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue exceeded analyst estimates by 9.5%. Earnings per share (EPS) also surpassed analyst estimates by 115%. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jul 06Upcoming dividend of NT$11.00 per share at 5.6% yieldEligible shareholders must have bought the stock before 13 July 2023. Payment date: 15 August 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 5.6%. Within top quartile of Taiwanese dividend payers (5.4%). Higher than average of industry peers (4.2%).
Reported Earnings • Mar 30Full year 2022 earnings: EPS exceeds analyst expectationsFull year 2022 results: EPS: NT$24.89 (up from NT$9.16 in FY 2021). Revenue: NT$11.0b (up 26% from FY 2021). Net income: NT$2.26b (up 172% from FY 2021). Profit margin: 21% (up from 9.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Mar 13Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$206, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Leisure industry in Taiwan. Total returns to shareholders of 126% over the past three years.
Valuation Update With 7 Day Price Move • Dec 07Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$201, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Leisure industry in Taiwan. Total returns to shareholders of 78% over the past three years.
Reported Earnings • Nov 16Third quarter 2022 earnings: EPS exceeds analyst expectationsThird quarter 2022 results: EPS: NT$9.37 (up from NT$1.81 in 3Q 2021). Revenue: NT$3.17b (up 35% from 3Q 2021). Net income: NT$851.6m (up 418% from 3Q 2021). Profit margin: 27% (up from 7.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 43%. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Cherng Lee was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 13Third quarter 2022 earnings: EPS exceeds analyst expectationsThird quarter 2022 results: EPS: NT$9.37 (up from NT$1.81 in 3Q 2021). Revenue: NT$3.17b (up 35% from 3Q 2021). Net income: NT$851.6m (up 418% from 3Q 2021). Profit margin: 27% (up from 7.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 43%. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Major Estimate Revision • Oct 25Consensus EPS estimates increase by 13%The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from NT$9.80b to NT$10.5b. EPS estimate increased from NT$18.88 to NT$21.31 per share. Net income forecast to grow 22% next year vs 1.3% growth forecast for Leisure industry in Taiwan. Consensus price target up from NT$158 to NT$176. Share price fell 6.8% to NT$158 over the past week.
Reported Earnings • Aug 15Second quarter 2022 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2022 results: EPS: NT$7.88 (up from NT$1.99 in 2Q 2021). Revenue: NT$2.68b (up 47% from 2Q 2021). Net income: NT$715.4m (up 295% from 2Q 2021). Profit margin: 27% (up from 9.9% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 198%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
Upcoming Dividend • Jul 25Upcoming dividend of NT$6.00 per shareEligible shareholders must have bought the stock before 01 August 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Taiwanese dividend payers (6.6%). In line with average of industry peers (4.4%).
お知らせ • Jul 22Topkey Corporation Provides Earnings Guidance for 2022Topkey Corporation provides earnings guidance for 2022. The Company's annual consolidated revenue is expected to reach TWD 10.2 billion, and EPS will challenge TWD 15 both of which are expected to hit record highs.
Price Target Changed • Jun 15Price target decreased to NT$158Down from NT$185, the current price target is provided by 1 analyst. New target price is 20% above last closing price of NT$132. Stock is down 15% over the past year. The company is forecast to post earnings per share of NT$12.38 for next year compared to NT$9.16 last year.
Reported Earnings • Jun 05First quarter 2022 earnings: EPS exceeds analyst expectationsFirst quarter 2022 results: EPS: NT$3.15 (up from NT$2.51 in 1Q 2021). Revenue: NT$2.18b (up 8.6% from 1Q 2021). Net income: NT$286.0m (up 26% from 1Q 2021). Profit margin: 13% (up from 11% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 4% per year.
お知らせ • May 29+ 1 more updateTopkey Corporation Appoints Cherng Lee¡ to the Member of Audit CommitteeTopkey Corporation approved the appointment of Cherng Lee¡ to the Member of Audit Committee, effective from May 27, 2022.
お知らせ • May 28Topkey Corporation Appoints Chu,Tong-Chen as Vice Chairperson of the Board of DirectorsTopkey Corporation appointed Chu,Tong-Chen as Vice Chairperson of the Board of Directors, effective from May 27, 2022.
Board Change • Apr 27Less 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. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Ying-Hwang Yang was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Mar 30Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2021 results: EPS: NT$9.16 (up from NT$7.48 in FY 2020). Revenue: NT$8.69b (up 20% from FY 2020). Net income: NT$831.6m (up 23% from FY 2020). Profit margin: 9.6% (in line with FY 2020). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 7.1%, compared to a 10% growth forecast for the industry in Taiwan. 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 5% per year.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$1.81 (vs NT$2.39 in 3Q 2020)The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: NT$2.35b (up 15% from 3Q 2020). Net income: NT$164.2m (down 24% from 3Q 2020). Profit margin: 7.0% (down from 11% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings.
Price Target Changed • Sep 27Price target decreased to NT$169Down from NT$188, the current price target is an average from 2 analysts. New target price is 17% above last closing price of NT$145. Stock is up 2.5% over the past year.
Major Estimate Revision • Aug 20Consensus EPS estimates fall to NT$10.01The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from NT$8.42b to NT$8.30b. EPS estimate also fell from NT$11.17 to NT$10.01. Net income forecast to grow 23% next year vs 17% growth forecast for Leisure industry in Taiwan. Consensus price target broadly unchanged at NT$185. Share price was steady at NT$140 over the past week.
Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS NT$1.99 (vs NT$2.35 in 2Q 2020)The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: NT$1.82b (flat on 2Q 2020). Net income: NT$181.1m (down 15% from 2Q 2020). Profit margin: 9.9% (down from 12% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.
Upcoming Dividend • Aug 06Upcoming dividend of NT$5.00 per shareEligible shareholders must have bought the stock before 13 August 2021. Payment date: 09 September 2021. Trailing yield: 3.3%. Lower than top quartile of Taiwanese dividend payers (5.0%). Higher than average of industry peers (2.6%).
Price Target Changed • Jul 16Price target decreased to NT$188Down from NT$217, the current price target is provided by 1 analyst. New target price is 28% above last closing price of NT$147. Stock is down 8.1% over the past year.
Executive Departure • May 27Chief Operating Officer of Business Group has left the companyOn the 17th of May, G. James Hsu's tenure as Chief Operating Officer of Business Group ended after 1.4 years in the role. We don't have any record of a personal shareholding under G. James' name. G. James is the only executive to leave the company over the last 12 months.
Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$2.51 (vs NT$0.72 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$2.01b (up 47% from 1Q 2020). Net income: NT$227.7m (up 247% from 1Q 2020). Profit margin: 11% (up from 4.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth.
分析記事 • Apr 12At NT$178, Is It Time To Put Topkey Corporation (TPE:4536) On Your Watch List?While Topkey Corporation ( TPE:4536 ) might not be the most widely known stock at the moment, it received a lot of...
Reported Earnings • Mar 30Full year 2020 earnings released: EPS NT$7.48 (vs NT$9.53 in FY 2019)The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: NT$7.23b (flat on FY 2019). Net income: NT$679.0m (down 22% from FY 2019). Profit margin: 9.4% (down from 12% in FY 2019). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth.
分析記事 • Mar 21Should You Invest In Topkey (TPE:4536)?To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd...
お知らせ • Mar 10Topkey Corporation, Annual General Meeting, May 26, 2021Topkey Corporation, Annual General Meeting, May 26, 2021. Location: Topkey Meeting Room #B1 No.17,20th Rd.,Industrial Park Taichung Taiwan Agenda: To consider the 2020 business report; to consider the 2020 audit committee review report; to consider the 2020 remuneration of employees and directors; to consider the amendments to the “Procedures for Ethical Management and Guidelines for Conduct"; to consider the amendments to the ”Codes of Ethical Conduct”; to consider the amendments to the ”Management of Operation of Board Meeting”; to consider the 2020 business report and financial statements; to consider the 2020 retained earnings distribution; to discuss and approve the amendments to “Procedures for Election of Directors” of the company; to o discuss and approve the amendments to “Rules of Procedure for Shareholders Meetings ” of the company; and to consider the other matters.
分析記事 • Mar 08Is Topkey Corporation (TPE:4536) A Smart Pick For Income Investors?Dividend paying stocks like Topkey Corporation ( TPE:4536 ) tend to be popular with investors, and for good reason...
Is New 90 Day High Low • Mar 04New 90-day high: NT$169The company is up 3.0% from its price of NT$164 on 04 December 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$137 per share.
分析記事 • Feb 22Is Topkey (TPE:4536) Using Too Much Debt?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 • Feb 08Topkey (TPE:4536) Shareholders Have Enjoyed A 64% Share Price GainTopkey Corporation ( TPE:4536 ) shareholders might be concerned after seeing the share price drop 10% in the last...
Is New 90 Day High Low • Jan 26New 90-day low: NT$146The company is down 6.0% from its price of NT$154 on 28 October 2020. The Taiwanese market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$139 per share.
分析記事 • Jan 25Are Topkey Corporation's (TPE:4536) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?It is hard to get excited after looking at Topkey's (TPE:4536) recent performance, when its stock has declined 5.0...
分析記事 • Jan 11Is Topkey Corporation (TPE:4536) Potentially Undervalued?Topkey Corporation ( TPE:4536 ), might not be a large cap stock, but it received a lot of attention from a substantial...
分析記事 • Dec 28Calculating The Intrinsic Value Of Topkey Corporation (TPE:4536)How far off is Topkey Corporation ( TPE:4536 ) from its intrinsic value? Using the most recent financial data, we'll...
分析記事 • Dec 13The 21% Return On Capital At Topkey (TPE:4536) Got Our AttentionIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
分析記事 • Nov 30Is Topkey Corporation (TPE:4536) The Right Choice For A Smart Dividend Investor?Dividend paying stocks like Topkey Corporation (TPE:4536) tend to be popular with investors, and for good reason...
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$2.39The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: NT$2.04b (up 2.6% from 3Q 2019). Net income: NT$217.1m (down 14% from 3Q 2019). Profit margin: 11% (down from 13% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth.
Price Target Changed • Oct 15Price target raised to NT$184Up from NT$165, the current price target is an average from 2 analysts. The new target price is 18% above the current share price of NT$155. As of last close, the stock is up 12% over the past year.