Alexander Marine（8478）株式概要アレクサンダー・マリン社は、台湾、ヨーロッパ、オーストラリア、アメリカでヨットの設計、製造、販売を行っている。 詳細8478 ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長0/6過去の実績4/6財務の健全性5/6配当金3/6報酬株価収益率（ 9.3 x） TW市場（ 22.9 x）を下回っています。過去1年間で収益は233.6%増加しました リスク分析高いレベルの非現金収入 4.28%の配当はフリーキャッシュフローで十分にカバーされていない すべてのリスクチェックを見る8478 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueNT$Current PriceNT$152.0023.2% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture07b2016201920222025202620282031Revenue NT$6.2bEarnings NT$1.7bAdvancedSet Fair ValueView all narrativesAlexander Marine Co., Ltd. 競合他社TopkeySymbol: TWSE:4536Market cap: NT$15.0bKMC (Kuei Meng) InternationalSymbol: TWSE:5306Market cap: NT$10.9bMerida IndustrySymbol: TWSE:9914Market cap: NT$21.8bAdvanced International MultitechSymbol: TPEX:8938Market cap: NT$8.2b価格と性能株価の高値、安値、推移の概要Alexander Marine過去の株価現在の株価NT$152.0052週高値NT$240.0052週安値NT$144.50ベータ0.951ヶ月の変化-0.98%3ヶ月変化-5.88%1年変化-0.98%3年間の変化-73.66%5年間の変化156.32%IPOからの変化6.96%最新ニュースNew Risk • May 13New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$3.00 (vs NT$0.63 in 1Q 2025)First quarter 2026 results: EPS: NT$3.00 (up from NT$0.63 in 1Q 2025). Revenue: NT$1.43b (up 51% from 1Q 2025). Net income: NT$357.1m (up NT$297.9m from 1Q 2025). Profit margin: 25% (up from 6.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year whereas the company’s share price has fallen by 32% per year.お知らせ • Mar 11Alexander Marine Co., Ltd., Annual General Meeting, Jun 08, 2026Alexander Marine Co., Ltd., Annual General Meeting, Jun 08, 2026, at 10:30 Taipei Standard Time. Location: 1 floor no,1, chin fu rd., cianjhen district, kaohsiung city TaiwanReported Earnings • Mar 11Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: NT$13.25 (up from NT$10.37 in FY 2024). Revenue: NT$5.23b (up 5.8% from FY 2024). Net income: NT$1.24b (up 33% from FY 2024). Profit margin: 24% (up from 19% in FY 2024). Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 44%. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.Reported Earnings • Nov 11Third quarter 2025 earnings released: EPS: NT$5.42 (vs NT$1.63 in 3Q 2024)Third quarter 2025 results: EPS: NT$5.42 (up from NT$1.63 in 3Q 2024). Revenue: NT$1.55b (up 65% from 3Q 2024). Net income: NT$509.8m (up 240% from 3Q 2024). Profit margin: 33% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Sep 12Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$225, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 4.2% over the past three years.最新情報をもっと見るRecent updatesNew Risk • May 13New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$3.00 (vs NT$0.63 in 1Q 2025)First quarter 2026 results: EPS: NT$3.00 (up from NT$0.63 in 1Q 2025). Revenue: NT$1.43b (up 51% from 1Q 2025). Net income: NT$357.1m (up NT$297.9m from 1Q 2025). Profit margin: 25% (up from 6.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year whereas the company’s share price has fallen by 32% per year.お知らせ • Mar 11Alexander Marine Co., Ltd., Annual General Meeting, Jun 08, 2026Alexander Marine Co., Ltd., Annual General Meeting, Jun 08, 2026, at 10:30 Taipei Standard Time. Location: 1 floor no,1, chin fu rd., cianjhen district, kaohsiung city TaiwanReported Earnings • Mar 11Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: NT$13.25 (up from NT$10.37 in FY 2024). Revenue: NT$5.23b (up 5.8% from FY 2024). Net income: NT$1.24b (up 33% from FY 2024). Profit margin: 24% (up from 19% in FY 2024). Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 44%. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.Reported Earnings • Nov 11Third quarter 2025 earnings released: EPS: NT$5.42 (vs NT$1.63 in 3Q 2024)Third quarter 2025 results: EPS: NT$5.42 (up from NT$1.63 in 3Q 2024). Revenue: NT$1.55b (up 65% from 3Q 2024). Net income: NT$509.8m (up 240% from 3Q 2024). Profit margin: 33% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Sep 12Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$225, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 4.2% over the past three years.Reported Earnings • Aug 13Second quarter 2025 earnings released: EPS: NT$4.59 (vs NT$5.93 in 2Q 2024)Second quarter 2025 results: EPS: NT$4.59 (down from NT$5.93 in 2Q 2024). Revenue: NT$1.67b (down 2.4% from 2Q 2024). Net income: NT$431.2m (down 17% from 2Q 2024). Profit margin: 26% (down from 31% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Jul 30Upcoming dividend of NT$5.00 per shareEligible shareholders must have bought the stock before 06 August 2025. Payment date: 29 August 2025. Payout ratio is on the higher end at 99%, however this is supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.6%).Valuation Update With 7 Day Price Move • Jun 26Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$183, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 12% over the past three years.New Risk • Jun 11New 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 8.8% 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: Minor Risks Dividend is not well covered by earnings (99% payout ratio). Share price has been volatile over the past 3 months (8.8% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin).Reported Earnings • May 13First quarter 2025 earnings released: EPS: NT$0.63 (vs NT$6.08 in 1Q 2024)First quarter 2025 results: EPS: NT$0.63 (down from NT$6.08 in 1Q 2024). Revenue: NT$946.2m (down 48% from 1Q 2024). Net income: NT$59.2m (down 89% from 1Q 2024). Profit margin: 6.3% (down from 29% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year.お知らせ • May 03Alexander Marine Co., Ltd. to Report Q1, 2025 Results on May 12, 2025Alexander Marine Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$142, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Leisure industry in Taiwan. Total loss to shareholders of 2.6% over the past three years.お知らせ • Mar 06Alexander Marine Co., Ltd., Annual General Meeting, Jun 11, 2025Alexander Marine Co., Ltd., Annual General Meeting, Jun 11, 2025, at 10:30 Taipei Standard Time. Location: 1 floor no,1, chin fu rd., cianjhen district, kaohsiung city TaiwanReported Earnings • Mar 05Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: NT$10.37 (down from NT$23.66 in FY 2023). Revenue: NT$4.94b (down 22% from FY 2023). Net income: NT$938.1m (down 55% from FY 2023). Profit margin: 19% (down from 33% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.4%. Earnings per share (EPS) also missed analyst estimates by 32%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 11% per year.New Risk • Mar 02New 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 6.0% 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 High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.0% average weekly change).Buy Or Sell Opportunity • Feb 27Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 17% to NT$197. The fair value is estimated to be NT$247, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 7.5% in 2 years. Earnings are forecast to grow by 6.4% in the next 2 years.お知らせ • Feb 22Alexander Marine Co., Ltd. to Report Q4, 2024 Results on Mar 03, 2025Alexander Marine Co., Ltd. announced that they will report Q4, 2024 results on Mar 03, 2025Buy Or Sell Opportunity • Jan 02Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 30% to NT$202. The fair value is estimated to be NT$253, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 7.5% in 2 years. Earnings are forecast to grow by 6.4% in the next 2 years.分析記事 • Dec 11Alexander Marine (TWSE:8478) Might Have The Makings Of A Multi-BaggerIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...分析記事 • Nov 15Alexander Marine's (TWSE:8478) Sluggish Earnings Might Be Just The Beginning Of Its ProblemsThe subdued market reaction suggests that Alexander Marine Co., Ltd.'s ( TWSE:8478 ) recent earnings didn't contain any...Major Estimate Revision • Nov 15Consensus revenue estimates fall by 20%The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$6.73b to NT$5.40b. EPS estimate fell from NT$21.18 to NT$15.13 per share. Net income forecast to shrink 0.7% next year vs 46% growth forecast for Leisure industry in Taiwan . Consensus price target down from NT$409 to NT$372. Share price fell 11% to NT$248 over the past week.Price Target Changed • Nov 13Price target decreased by 9.0% to NT$372Down from NT$409, the current price target is an average from 3 analysts. New target price is 47% above last closing price of NT$253. Stock is down 33% over the past year. The company is forecast to post earnings per share of NT$15.14 for next year compared to NT$23.66 last year.Reported Earnings • Nov 10Third quarter 2024 earnings: EPS and revenues miss analyst expectationsThird quarter 2024 results: EPS: NT$1.63 (down from NT$4.84 in 3Q 2023). Revenue: NT$937.6m (down 43% from 3Q 2023). Net income: NT$149.8m (down 65% from 3Q 2023). Profit margin: 16% (down from 26% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 38%. Earnings per share (EPS) also missed analyst estimates by 62%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth.分析記事 • Aug 15Alexander Marine Co., Ltd. (TWSE:8478) Just Reported Earnings, And Analysts Cut Their Target PriceIt's been a good week for Alexander Marine Co., Ltd. ( TWSE:8478 ) shareholders, because the company has just released...Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: NT$5.93 (vs NT$5.68 in 2Q 2023)Second quarter 2024 results: EPS: NT$5.93 (up from NT$5.68 in 2Q 2023). Revenue: NT$1.71b (up 18% from 2Q 2023). Net income: NT$521.4m (up 4.3% from 2Q 2023). Profit margin: 31% (down from 34% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Aug 06Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$286, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 19x in the Leisure industry in Taiwan. Total returns to shareholders of 256% over the past three years.お知らせ • Aug 03Alexander Marine Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024Alexander Marine Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024分析記事 • Jul 23Is There An Opportunity With Alexander Marine Co., Ltd.'s (TWSE:8478) 33% Undervaluation?Key Insights Alexander Marine's estimated fair value is NT$532 based on 2 Stage Free Cash Flow to Equity Current share...New Risk • Jul 05New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (42% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (6.8% increase in shares outstanding).分析記事 • Jul 01There Is A Reason Alexander Marine Co., Ltd.'s (TWSE:8478) Price Is UndemandingAlexander Marine Co., Ltd.'s ( TWSE:8478 ) price-to-earnings (or "P/E") ratio of 18.1x might make it look like a buy...Declared Dividend • Jun 27Dividend increased to NT$12.00Dividend of NT$12.00 is 20% higher than last year. Ex-date: 10th July 2024 Payment date: 1st August 2024 Dividend yield will be 3.1%, which is lower than the industry average of 5.0%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 74% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Jun 26Alexander Marine Co., Ltd. Announces Common Share Cash Dividend, Payable on August 1, 2024Alexander Marine Co., Ltd. announced common share cash dividend of TWD 1,055,667,312. Ex-rights (ex-dividend) trading date: July 10, 2024. Ex-rights (ex-dividend) record date: July 16, 2024. Payment date of common stock cash dividend distribution: August 1, 2024. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: June 25, 2024.お知らせ • Jun 13+ 1 more updateAlexander Marine Co., Ltd. Announces Changes to Audit Committee and Remuneration CommitteeAlexander Marine Co., Ltd. announced changes to Audit Committee and Remuneration Committee. Name of the previous position holder: Audit Committee: Ming Cheng Chang, Hung Wen Lin, Chu Sheng Hsu. Remuneration Committee: Ming Cheng Chang, Hung Wen Lin, Chu Sheng Hsu. Resume of the previous position holder: Ming Cheng Chang/Chairperson of Taiwan Auditing Standards Committee, Independent director of Medigen Vaccine Biologics Corporation, Independent director of United Alloy-Tech Company. Hung Wen Lin/Host of Uni FM96.7 financial program, Consultant of Business Today. Name of the new position holder: Audit Committee: Chu Sheng Hsu, Shui Xian Lin, Shui En Liu. Remuneration Committee: Chu Sheng Hsu, Shui Xian Lin, Shui En Liu. Resume of the new position holder: Chu Sheng Hsu/Adjunct Professor,NTU Leadership Program, Adjunct Professor,EMBA /MBA, NTHU,Independent director of inergy Technology Inc., Independent director of Pou Chen Group, Independent director of Fubon Bank (China). Shui Xian Lin//Director of Kanpai Group, Founding partner of EverYi Capital. Shui En Liu/Independent director of Mercuries Data Systems Ltd. . Circumstances of change: Term expired. Effective date of the new member is June 11, 2024. Original term is from July 26, 2021 to July 25, 2024.New Risk • May 07New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (42% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.Reported Earnings • May 07First quarter 2024 earnings released: EPS: NT$6.08 (vs NT$7.00 in 1Q 2023)First quarter 2024 results: EPS: NT$6.08 (down from NT$7.00 in 1Q 2023). Revenue: NT$1.82b (up 15% from 1Q 2023). Net income: NT$534.7m (down 13% from 1Q 2023). Profit margin: 29% (down from 39% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has increased by 92% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Apr 28Alexander Marine Co., Ltd. to Report Q1, 2024 Results on May 06, 2024Alexander Marine Co., Ltd. announced that they will report Q1, 2024 results on May 06, 2024分析記事 • Apr 16With EPS Growth And More, Alexander Marine (TWSE:8478) Makes An Interesting CaseFor beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Buy Or Sell Opportunity • Apr 08Now 20% undervaluedOver the last 90 days, the stock has risen 9.3% to NT$411. The fair value is estimated to be NT$515, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 60%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 20% in the next 2 years.New Risk • Apr 04New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Dividend is not well covered by cash flows (220% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change).分析記事 • Apr 02At NT$400, Is Alexander Marine Co., Ltd. (TWSE:8478) Worth Looking At Closely?Alexander Marine Co., Ltd. ( TWSE:8478 ), is not the largest company out there, but it saw a decent share price growth...分析記事 • Mar 07Alexander Marine Co., Ltd.'s (TWSE:8478) Price Is Right But Growth Is Lacking After Shares Rocket 27%Alexander Marine Co., Ltd. ( TWSE:8478 ) shares have had a really impressive month, gaining 27% after a shaky period...Reported Earnings • Mar 05Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: NT$23.66 (up from NT$19.93 in FY 2022). Revenue: NT$6.33b (up 14% from FY 2022). Net income: NT$2.08b (up 19% from FY 2022). Profit margin: 33% (up from 32% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.4%. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has increased by 105% per year, which means it is tracking significantly ahead of earnings growth.Buy Or Sell Opportunity • Mar 05Now 20% undervaluedOver the last 90 days, the stock has risen 4.6% to NT$413. The fair value is estimated to be NT$517, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 60%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 20% in the next 2 years.Valuation Update With 7 Day Price Move • Mar 04Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$421, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 20x in the Leisure industry in Taiwan. Total returns to shareholders of 919% over the past three years.分析記事 • Mar 02Alexander Marine (TWSE:8478) Knows How To Allocate Capital EffectivelyTo find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...お知らせ • Mar 01Alexander Marine Co., Ltd., Annual General Meeting, Jun 11, 2024Alexander Marine Co., Ltd., Annual General Meeting, Jun 11, 2024. Location: Alexander Marine Co., Ltd. office Building 1 Floor War Room No.1, Jin-fu Rd., Qianzhen Dist., Kaohsiung, Kaohsiung Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committee's review report of 2023; to consider report on distribution of 2023 employees' compensation and directors' remuneration; to consider adoption of 2023 Business Report and Financial Statements; to consider adoption of the Proposal for Distribution of 2023 earnings; to consider amendment to the Company's Shareholders' Meeting Rules; and to consider other matters.Buying Opportunity • Nov 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 17%. The fair value is estimated to be NT$469, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 78%. Revenue is forecast to grow by 38% in 2 years. Earnings is forecast to grow by 33% in the next 2 years.New Risk • Oct 12New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.0% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.New Risk • Aug 10New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.2% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.1% average weekly change).Price Target Changed • Aug 10Price target decreased by 21% to NT$454Down from NT$572, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$448. Stock is up 110% over the past year. The company is forecast to post earnings per share of NT$24.43 for next year compared to NT$19.93 last year.Reported Earnings • Aug 08Second quarter 2023 earnings: EPS and revenues miss analyst expectationsSecond quarter 2023 results: EPS: NT$5.68 (down from NT$6.15 in 2Q 2022). Revenue: NT$1.45b (down 10% from 2Q 2022). Net income: NT$499.7m (down 7.6% from 2Q 2022). Profit margin: 34% (in line with 2Q 2022). Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has increased by 122% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Jul 26Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$649, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 22x in the Leisure industry in Taiwan. Total returns to shareholders of 1,657% over the past three years.Upcoming Dividend • Jul 10Upcoming dividend of NT$10.00 per share at 1.7% yieldEligible shareholders must have bought the stock before 17 July 2023. Payment date: 04 August 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%).Valuation Update With 7 Day Price Move • Jun 02Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$635, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 20x in the Leisure industry in Taiwan. Total returns to shareholders of 1,627% over the past three years.お知らせ • May 09Alexander Marine Co., Ltd. Appoints Yu Chou Huang as Corporate Governance OfficerAlexander Marine Co., Ltd. appointed Yu Chou Huang, CFO of Alexander Marine Co., Ltd. as Corporate Governance Officer. Effective date: May 8, 2023.Valuation Update With 7 Day Price Move • Apr 21Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$437, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Leisure industry in Taiwan. Total returns to shareholders of 1,410% over the past three years.Reported Earnings • Mar 24Full year 2022 earnings: Revenues and EPS in line with analyst expectationsFull year 2022 results: EPS: NT$19.93 (up from NT$9.55 in FY 2021). Revenue: NT$5.56b (up 22% from FY 2021). Net income: NT$1.75b (up 105% from FY 2021). Profit margin: 32% (up from 19% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 1.2% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has increased by 163% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Mar 22Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$430, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Leisure industry in Taiwan. Total returns to shareholders of 1,621% over the past three years.Valuation Update With 7 Day Price Move • Feb 21Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$405, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 11x in the Leisure industry in Taiwan. Total returns to shareholders of 944% over the past three years.Valuation Update With 7 Day Price Move • Feb 06Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$337, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 11x in the Leisure industry in Taiwan. Total returns to shareholders of 746% over the past three years.Valuation Update With 7 Day Price Move • Jan 17Investor sentiment improved over the past weekAfter last week's 25% share price gain to NT$378, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 10x in the Leisure industry in Taiwan. Total returns to shareholders of 781% over the past three years.Valuation Update With 7 Day Price Move • Nov 28Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$335, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 9x in the Leisure industry in Taiwan. Total returns to shareholders of 677% over the past three years.Reported Earnings • Nov 18Third quarter 2022 earnings released: EPS: NT$4.72 (vs NT$2.02 in 3Q 2021)Third quarter 2022 results: EPS: NT$4.72 (up from NT$2.02 in 3Q 2021). Revenue: NT$1.23b (up 17% from 3Q 2021). Net income: NT$415.4m (up 132% from 3Q 2021). Profit margin: 34% (up from 17% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year whereas the company’s share price has increased by 84% per year.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Sheng Hsu Chu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Oct 25Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$220, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 10x in the Leisure industry in Taiwan. Total returns to shareholders of 409% over the past three years.Valuation Update With 7 Day Price Move • Oct 03Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$278, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 10x in the Leisure industry in Taiwan. Total returns to shareholders of 509% over the past three years.Valuation Update With 7 Day Price Move • Aug 18Investor sentiment improved over the past weekAfter last week's 22% share price gain to NT$260, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 12x in the Leisure industry in Taiwan. Total returns to shareholders of 494% over the past three years.Reported Earnings • Aug 09Second quarter 2022 earnings released: EPS: NT$6.15 (vs NT$4.48 in 2Q 2021)Second quarter 2022 results: EPS: NT$6.15 (up from NT$4.48 in 2Q 2021). Revenue: NT$1.62b (down 4.2% from 2Q 2021). Net income: NT$540.9m (up 34% from 2Q 2021). Profit margin: 33% (up from 24% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 68% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Jul 25Upcoming dividend of NT$5.00 per shareEligible shareholders must have bought the stock before 01 August 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (4.4%).Valuation Update With 7 Day Price Move • Jul 19Investor sentiment improved over the past weekAfter last week's 22% share price gain to NT$208, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 333% over the past three years.Board Change • Jul 05Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Sheng Hsu Chu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Jul 01Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$169, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 327% over the past three years.Valuation Update With 7 Day Price Move • May 30Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$212, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 476% over the past three years.Reported Earnings • May 11First quarter 2022 earnings released: EPS: NT$4.40 (vs NT$0.10 in 1Q 2021)First quarter 2022 results: EPS: NT$4.40 (up from NT$0.10 in 1Q 2021). Revenue: NT$1.31b (up 91% from 1Q 2021). Net income: NT$387.3m (up NT$378.1m from 1Q 2021). Profit margin: 30% (up from 1.4% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • May 06Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$186, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 398% over the past three years.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Ming Cheng Chang was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Valuation Update With 7 Day Price Move • Apr 13Investor sentiment improved over the past weekAfter last week's 20% share price gain to NT$172, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 14x in the Leisure industry in Taiwan. Total returns to shareholders of 336% over the past three years.Reported Earnings • Mar 10Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: NT$9.55 (up from NT$1.04 in FY 2020). Revenue: NT$4.55b (up 7.8% from FY 2020). Net income: NT$854.7m (up NT$760.3m from FY 2020). Profit margin: 19% (up from 2.2% in FY 2020). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 16%. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth.Valuation Update With 7 Day Price Move • Feb 08Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$143, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 16x in the Leisure industry in Taiwan. Total returns to shareholders of 264% over the past three years.Valuation Update With 7 Day Price Move • Nov 22Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$110, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 15x in the Leisure industry in Taiwan. Total returns to shareholders of 220% over the past three years.Reported Earnings • Nov 10Third quarter 2021 earnings released: EPS NT$2.02 (vs NT$3.27 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.05b (up 22% from 3Q 2020). Net income: NT$179.4m (up NT$475.1m from 3Q 2020). Profit margin: 17% (up from net loss in 3Q 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 35% per year.Upcoming Dividend • Oct 11Upcoming dividend of NT$1.02 per shareEligible shareholders must have bought the stock before 18 October 2021. Payment date: 05 November 2021. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.1%).Valuation Update With 7 Day Price Move • Aug 19Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$81.30, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 16x in the Leisure industry in Taiwan. Total returns to shareholders of 86% over the past three years.Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS NT$4.48 (vs NT$2.97 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.69b (up 7.7% from 2Q 2020). Net income: NT$402.7m (up 49% from 2Q 2020). Profit margin: 24% (up from 17% in 2Q 2020). 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 21% per year, which means it is well ahead of earnings.Executive Departure • Aug 03Independent Director Neng Mou Tu has left the companyOn the 26th of July, Neng Mou Tu's tenure as Independent Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Neng Mou's name. A total of 2 executives have left over the last 12 months.Valuation Update With 7 Day Price Move • Aug 03Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$86.10, the stock trades at a trailing P/E ratio of 52.6x. Average trailing P/E is 20x in the Leisure industry in Taiwan. Total returns to shareholders of 79% over the past three years.Executive Departure • Aug 03Director Yen Sung Chen has left the companyOn the 26th of July, Yen Sung Chen's tenure as Director ended after 2.1 years in the role. We don't have any record of a personal shareholding under Yen Sung's name. A total of 2 executives have left over the last 12 months.Valuation Update With 7 Day Price Move • Jun 26Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$66.30, the stock trades at a trailing P/E ratio of 40.5x. Average trailing P/E is 20x in the Leisure industry in Taiwan. Total returns to shareholders of 21% over the past three years.Valuation Update With 7 Day Price Move • May 16Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to NT$47.70, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 20x in the Leisure industry in Taiwan. Total loss to shareholders of 7.2% over the past three years.Reported Earnings • May 11First quarter 2021 earnings released: EPS NT$0.10 (vs NT$0.49 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$683.9m (up 42% from 1Q 2020). Net income: NT$9.28m (up NT$53.4m from 1Q 2020). Profit margin: 1.4% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.分析記事 • Apr 21Does It Make Sense To Buy Alexander Marine Co., Ltd. (TPE:8478) For Its Yield?Today we'll take a closer look at Alexander Marine Co., Ltd. ( TPE:8478 ) from a dividend investor's perspective...分析記事 • Apr 02We Think Alexander Marine (TPE:8478) Is Taking Some Risk With Its DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Valuation Update With 7 Day Price Move • Mar 29Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$57.70, the stock trades at a trailing P/E ratio of 55.3x. Average trailing P/E is 23x in the Leisure industry in Taiwan. Total returns to shareholders of 5.1% over the past three years.Reported Earnings • Mar 24Full year 2020 earnings released: EPS NT$1.04 (vs NT$0.50 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.22b (up 14% from FY 2019). Net income: NT$94.5m (up 105% from FY 2019). Profit margin: 2.2% (up from 1.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.分析記事 • Feb 25Has Alexander Marine (TPE:8478) Got What It Takes To Become A Multi-Bagger?Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Is New 90 Day High Low • Feb 01New 90-day low: NT$40.10The company is down 35% from its price of NT$61.70 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 Leisure industry, which is down 1.0% over the same period.分析記事 • Jan 21Is Alexander Marine Co., Ltd.'s (TPE:8478) 4.5% ROE Worse Than Average?While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...Valuation Update With 7 Day Price Move • Jan 21Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$40.75, the stock is trading at a trailing P/E ratio of 34.8x, down from the previous P/E ratio of 41.1x. This compares to an average P/E of 23x in the Leisure industry in Taiwan. Total return to shareholders over the past three years is a loss of 38%.株主還元8478TW LeisureTW 市場7D-8.4%2.7%2.3%1Y-1.0%-13.7%104.6%株主還元を見る業界別リターン: 8478過去 1 年間で-13.7 % の収益を上げたTW Leisure業界を上回りました。リターン対市場: 8478は、過去 1 年間で104.6 % のリターンを上げたTW市場を下回りました。価格変動Is 8478's price volatile compared to industry and market?8478 volatility8478 Average Weekly Movement4.6%Leisure Industry Average Movement3.7%Market Average Movement6.3%10% most volatile stocks in TW Market12.1%10% least volatile stocks in TW Market2.5%安定した株価: 8478 、 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: 8478の 週次ボラティリティ ( 5% ) 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1978n/aKevin Tsengwww.oceanalexander.com.twアレキサンダー・マリーン社は、台湾、ヨーロッパ、オーストラリア、アメリカでヨットの設計、製造、販売を行っている。また、アフターサービス、ヨットや部品の修理、一般投資活動、不動産賃貸も行っている。アレキサンダー・マリーン社は1978年に設立され、台湾の高雄に本社を置いている。もっと見るAlexander Marine Co., Ltd. 基礎のまとめAlexander Marine の収益と売上を時価総額と比較するとどうか。8478 基礎統計学時価総額NT$14.28b収益（TTM）NT$1.54b売上高(TTM)NT$5.71b9.3xPER（株価収益率2.5xP/Sレシオ8478 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8478 損益計算書（TTM）収益NT$5.71b売上原価NT$3.42b売上総利益NT$2.29bその他の費用NT$749.48m収益NT$1.54b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）16.42グロス・マージン40.11%純利益率27.00%有利子負債／自己資本比率49.3%8478 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4.3%現在の配当利回り40%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2026/06/17 17:01終値2026/06/17 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Alexander Marine Co., Ltd. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。2 アナリスト機関Helen ChienDaiwa Securities Co. Ltd.Fan-Jen TsengKGI Securities Co. Ltd.
New Risk • May 13New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$3.00 (vs NT$0.63 in 1Q 2025)First quarter 2026 results: EPS: NT$3.00 (up from NT$0.63 in 1Q 2025). Revenue: NT$1.43b (up 51% from 1Q 2025). Net income: NT$357.1m (up NT$297.9m from 1Q 2025). Profit margin: 25% (up from 6.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year whereas the company’s share price has fallen by 32% per year.
お知らせ • Mar 11Alexander Marine Co., Ltd., Annual General Meeting, Jun 08, 2026Alexander Marine Co., Ltd., Annual General Meeting, Jun 08, 2026, at 10:30 Taipei Standard Time. Location: 1 floor no,1, chin fu rd., cianjhen district, kaohsiung city Taiwan
Reported Earnings • Mar 11Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: NT$13.25 (up from NT$10.37 in FY 2024). Revenue: NT$5.23b (up 5.8% from FY 2024). Net income: NT$1.24b (up 33% from FY 2024). Profit margin: 24% (up from 19% in FY 2024). Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 44%. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.
Reported Earnings • Nov 11Third quarter 2025 earnings released: EPS: NT$5.42 (vs NT$1.63 in 3Q 2024)Third quarter 2025 results: EPS: NT$5.42 (up from NT$1.63 in 3Q 2024). Revenue: NT$1.55b (up 65% from 3Q 2024). Net income: NT$509.8m (up 240% from 3Q 2024). Profit margin: 33% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Sep 12Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$225, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 4.2% over the past three years.
New Risk • May 13New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
Reported Earnings • May 13First quarter 2026 earnings released: EPS: NT$3.00 (vs NT$0.63 in 1Q 2025)First quarter 2026 results: EPS: NT$3.00 (up from NT$0.63 in 1Q 2025). Revenue: NT$1.43b (up 51% from 1Q 2025). Net income: NT$357.1m (up NT$297.9m from 1Q 2025). Profit margin: 25% (up from 6.3% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year whereas the company’s share price has fallen by 32% per year.
お知らせ • Mar 11Alexander Marine Co., Ltd., Annual General Meeting, Jun 08, 2026Alexander Marine Co., Ltd., Annual General Meeting, Jun 08, 2026, at 10:30 Taipei Standard Time. Location: 1 floor no,1, chin fu rd., cianjhen district, kaohsiung city Taiwan
Reported Earnings • Mar 11Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: NT$13.25 (up from NT$10.37 in FY 2024). Revenue: NT$5.23b (up 5.8% from FY 2024). Net income: NT$1.24b (up 33% from FY 2024). Profit margin: 24% (up from 19% in FY 2024). Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 44%. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings.
Reported Earnings • Nov 11Third quarter 2025 earnings released: EPS: NT$5.42 (vs NT$1.63 in 3Q 2024)Third quarter 2025 results: EPS: NT$5.42 (up from NT$1.63 in 3Q 2024). Revenue: NT$1.55b (up 65% from 3Q 2024). Net income: NT$509.8m (up 240% from 3Q 2024). Profit margin: 33% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Sep 12Investor sentiment improves as stock rises 15%After last week's 15% share price gain to NT$225, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 4.2% over the past three years.
Reported Earnings • Aug 13Second quarter 2025 earnings released: EPS: NT$4.59 (vs NT$5.93 in 2Q 2024)Second quarter 2025 results: EPS: NT$4.59 (down from NT$5.93 in 2Q 2024). Revenue: NT$1.67b (down 2.4% from 2Q 2024). Net income: NT$431.2m (down 17% from 2Q 2024). Profit margin: 26% (down from 31% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Jul 30Upcoming dividend of NT$5.00 per shareEligible shareholders must have bought the stock before 06 August 2025. Payment date: 29 August 2025. Payout ratio is on the higher end at 99%, however this is supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.6%).
Valuation Update With 7 Day Price Move • Jun 26Investor sentiment improves as stock rises 22%After last week's 22% share price gain to NT$183, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 12% over the past three years.
New Risk • Jun 11New 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 8.8% 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: Minor Risks Dividend is not well covered by earnings (99% payout ratio). Share price has been volatile over the past 3 months (8.8% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin).
Reported Earnings • May 13First quarter 2025 earnings released: EPS: NT$0.63 (vs NT$6.08 in 1Q 2024)First quarter 2025 results: EPS: NT$0.63 (down from NT$6.08 in 1Q 2024). Revenue: NT$946.2m (down 48% from 1Q 2024). Net income: NT$59.2m (down 89% from 1Q 2024). Profit margin: 6.3% (down from 29% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year.
お知らせ • May 03Alexander Marine Co., Ltd. to Report Q1, 2025 Results on May 12, 2025Alexander Marine Co., Ltd. announced that they will report Q1, 2025 results on May 12, 2025
Valuation Update With 7 Day Price Move • Apr 08Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$142, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Leisure industry in Taiwan. Total loss to shareholders of 2.6% over the past three years.
お知らせ • Mar 06Alexander Marine Co., Ltd., Annual General Meeting, Jun 11, 2025Alexander Marine Co., Ltd., Annual General Meeting, Jun 11, 2025, at 10:30 Taipei Standard Time. Location: 1 floor no,1, chin fu rd., cianjhen district, kaohsiung city Taiwan
Reported Earnings • Mar 05Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: NT$10.37 (down from NT$23.66 in FY 2023). Revenue: NT$4.94b (down 22% from FY 2023). Net income: NT$938.1m (down 55% from FY 2023). Profit margin: 19% (down from 33% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 8.4%. Earnings per share (EPS) also missed analyst estimates by 32%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 11% per year.
New Risk • Mar 02New 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 6.0% 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 High level of non-cash earnings (27% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.0% average weekly change).
Buy Or Sell Opportunity • Feb 27Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 17% to NT$197. The fair value is estimated to be NT$247, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 7.5% in 2 years. Earnings are forecast to grow by 6.4% in the next 2 years.
お知らせ • Feb 22Alexander Marine Co., Ltd. to Report Q4, 2024 Results on Mar 03, 2025Alexander Marine Co., Ltd. announced that they will report Q4, 2024 results on Mar 03, 2025
Buy Or Sell Opportunity • Jan 02Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 30% to NT$202. The fair value is estimated to be NT$253, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 7.5% in 2 years. Earnings are forecast to grow by 6.4% in the next 2 years.
分析記事 • Dec 11Alexander Marine (TWSE:8478) Might Have The Makings Of A Multi-BaggerIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
分析記事 • Nov 15Alexander Marine's (TWSE:8478) Sluggish Earnings Might Be Just The Beginning Of Its ProblemsThe subdued market reaction suggests that Alexander Marine Co., Ltd.'s ( TWSE:8478 ) recent earnings didn't contain any...
Major Estimate Revision • Nov 15Consensus revenue estimates fall by 20%The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$6.73b to NT$5.40b. EPS estimate fell from NT$21.18 to NT$15.13 per share. Net income forecast to shrink 0.7% next year vs 46% growth forecast for Leisure industry in Taiwan . Consensus price target down from NT$409 to NT$372. Share price fell 11% to NT$248 over the past week.
Price Target Changed • Nov 13Price target decreased by 9.0% to NT$372Down from NT$409, the current price target is an average from 3 analysts. New target price is 47% above last closing price of NT$253. Stock is down 33% over the past year. The company is forecast to post earnings per share of NT$15.14 for next year compared to NT$23.66 last year.
Reported Earnings • Nov 10Third quarter 2024 earnings: EPS and revenues miss analyst expectationsThird quarter 2024 results: EPS: NT$1.63 (down from NT$4.84 in 3Q 2023). Revenue: NT$937.6m (down 43% from 3Q 2023). Net income: NT$149.8m (down 65% from 3Q 2023). Profit margin: 16% (down from 26% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 38%. Earnings per share (EPS) also missed analyst estimates by 62%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth.
分析記事 • Aug 15Alexander Marine Co., Ltd. (TWSE:8478) Just Reported Earnings, And Analysts Cut Their Target PriceIt's been a good week for Alexander Marine Co., Ltd. ( TWSE:8478 ) shareholders, because the company has just released...
Reported Earnings • Aug 15Second quarter 2024 earnings released: EPS: NT$5.93 (vs NT$5.68 in 2Q 2023)Second quarter 2024 results: EPS: NT$5.93 (up from NT$5.68 in 2Q 2023). Revenue: NT$1.71b (up 18% from 2Q 2023). Net income: NT$521.4m (up 4.3% from 2Q 2023). Profit margin: 31% (down from 34% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Aug 06Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to NT$286, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 19x in the Leisure industry in Taiwan. Total returns to shareholders of 256% over the past three years.
お知らせ • Aug 03Alexander Marine Co., Ltd. to Report Q2, 2024 Results on Aug 12, 2024Alexander Marine Co., Ltd. announced that they will report Q2, 2024 results on Aug 12, 2024
分析記事 • Jul 23Is There An Opportunity With Alexander Marine Co., Ltd.'s (TWSE:8478) 33% Undervaluation?Key Insights Alexander Marine's estimated fair value is NT$532 based on 2 Stage Free Cash Flow to Equity Current share...
New Risk • Jul 05New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (42% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (6.8% increase in shares outstanding).
分析記事 • Jul 01There Is A Reason Alexander Marine Co., Ltd.'s (TWSE:8478) Price Is UndemandingAlexander Marine Co., Ltd.'s ( TWSE:8478 ) price-to-earnings (or "P/E") ratio of 18.1x might make it look like a buy...
Declared Dividend • Jun 27Dividend increased to NT$12.00Dividend of NT$12.00 is 20% higher than last year. Ex-date: 10th July 2024 Payment date: 1st August 2024 Dividend yield will be 3.1%, which is lower than the industry average of 5.0%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 74% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Jun 26Alexander Marine Co., Ltd. Announces Common Share Cash Dividend, Payable on August 1, 2024Alexander Marine Co., Ltd. announced common share cash dividend of TWD 1,055,667,312. Ex-rights (ex-dividend) trading date: July 10, 2024. Ex-rights (ex-dividend) record date: July 16, 2024. Payment date of common stock cash dividend distribution: August 1, 2024. Date of the resolution by the board of directors or shareholders meeting or decision by the Company: June 25, 2024.
お知らせ • Jun 13+ 1 more updateAlexander Marine Co., Ltd. Announces Changes to Audit Committee and Remuneration CommitteeAlexander Marine Co., Ltd. announced changes to Audit Committee and Remuneration Committee. Name of the previous position holder: Audit Committee: Ming Cheng Chang, Hung Wen Lin, Chu Sheng Hsu. Remuneration Committee: Ming Cheng Chang, Hung Wen Lin, Chu Sheng Hsu. Resume of the previous position holder: Ming Cheng Chang/Chairperson of Taiwan Auditing Standards Committee, Independent director of Medigen Vaccine Biologics Corporation, Independent director of United Alloy-Tech Company. Hung Wen Lin/Host of Uni FM96.7 financial program, Consultant of Business Today. Name of the new position holder: Audit Committee: Chu Sheng Hsu, Shui Xian Lin, Shui En Liu. Remuneration Committee: Chu Sheng Hsu, Shui Xian Lin, Shui En Liu. Resume of the new position holder: Chu Sheng Hsu/Adjunct Professor,NTU Leadership Program, Adjunct Professor,EMBA /MBA, NTHU,Independent director of inergy Technology Inc., Independent director of Pou Chen Group, Independent director of Fubon Bank (China). Shui Xian Lin//Director of Kanpai Group, Founding partner of EverYi Capital. Shui En Liu/Independent director of Mercuries Data Systems Ltd. . Circumstances of change: Term expired. Effective date of the new member is June 11, 2024. Original term is from July 26, 2021 to July 25, 2024.
New Risk • May 07New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (42% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows.
Reported Earnings • May 07First quarter 2024 earnings released: EPS: NT$6.08 (vs NT$7.00 in 1Q 2023)First quarter 2024 results: EPS: NT$6.08 (down from NT$7.00 in 1Q 2023). Revenue: NT$1.82b (up 15% from 1Q 2023). Net income: NT$534.7m (down 13% from 1Q 2023). Profit margin: 29% (down from 39% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has increased by 92% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Apr 28Alexander Marine Co., Ltd. to Report Q1, 2024 Results on May 06, 2024Alexander Marine Co., Ltd. announced that they will report Q1, 2024 results on May 06, 2024
分析記事 • Apr 16With EPS Growth And More, Alexander Marine (TWSE:8478) Makes An Interesting CaseFor beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Buy Or Sell Opportunity • Apr 08Now 20% undervaluedOver the last 90 days, the stock has risen 9.3% to NT$411. The fair value is estimated to be NT$515, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 60%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 20% in the next 2 years.
New Risk • Apr 04New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Taiwanese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Dividend is not well covered by cash flows (220% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change).
分析記事 • Apr 02At NT$400, Is Alexander Marine Co., Ltd. (TWSE:8478) Worth Looking At Closely?Alexander Marine Co., Ltd. ( TWSE:8478 ), is not the largest company out there, but it saw a decent share price growth...
分析記事 • Mar 07Alexander Marine Co., Ltd.'s (TWSE:8478) Price Is Right But Growth Is Lacking After Shares Rocket 27%Alexander Marine Co., Ltd. ( TWSE:8478 ) shares have had a really impressive month, gaining 27% after a shaky period...
Reported Earnings • Mar 05Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: NT$23.66 (up from NT$19.93 in FY 2022). Revenue: NT$6.33b (up 14% from FY 2022). Net income: NT$2.08b (up 19% from FY 2022). Profit margin: 33% (up from 32% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.4%. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has increased by 105% per year, which means it is tracking significantly ahead of earnings growth.
Buy Or Sell Opportunity • Mar 05Now 20% undervaluedOver the last 90 days, the stock has risen 4.6% to NT$413. The fair value is estimated to be NT$517, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 60%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 20% in the next 2 years.
Valuation Update With 7 Day Price Move • Mar 04Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$421, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 20x in the Leisure industry in Taiwan. Total returns to shareholders of 919% over the past three years.
分析記事 • Mar 02Alexander Marine (TWSE:8478) Knows How To Allocate Capital EffectivelyTo find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...
お知らせ • Mar 01Alexander Marine Co., Ltd., Annual General Meeting, Jun 11, 2024Alexander Marine Co., Ltd., Annual General Meeting, Jun 11, 2024. Location: Alexander Marine Co., Ltd. office Building 1 Floor War Room No.1, Jin-fu Rd., Qianzhen Dist., Kaohsiung, Kaohsiung Taiwan Agenda: To consider 2023 Business Report; to consider Audit Committee's review report of 2023; to consider report on distribution of 2023 employees' compensation and directors' remuneration; to consider adoption of 2023 Business Report and Financial Statements; to consider adoption of the Proposal for Distribution of 2023 earnings; to consider amendment to the Company's Shareholders' Meeting Rules; and to consider other matters.
Buying Opportunity • Nov 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 17%. The fair value is estimated to be NT$469, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 78%. Revenue is forecast to grow by 38% in 2 years. Earnings is forecast to grow by 33% in the next 2 years.
New Risk • Oct 12New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Taiwanese stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.0% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
New Risk • Aug 10New minor risk - Dividend sustainabilityThe company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.2% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.1% average weekly change).
Price Target Changed • Aug 10Price target decreased by 21% to NT$454Down from NT$572, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of NT$448. Stock is up 110% over the past year. The company is forecast to post earnings per share of NT$24.43 for next year compared to NT$19.93 last year.
Reported Earnings • Aug 08Second quarter 2023 earnings: EPS and revenues miss analyst expectationsSecond quarter 2023 results: EPS: NT$5.68 (down from NT$6.15 in 2Q 2022). Revenue: NT$1.45b (down 10% from 2Q 2022). Net income: NT$499.7m (down 7.6% from 2Q 2022). Profit margin: 34% (in line with 2Q 2022). Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has increased by 122% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Jul 26Investor sentiment improves as stock rises 18%After last week's 18% share price gain to NT$649, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 22x in the Leisure industry in Taiwan. Total returns to shareholders of 1,657% over the past three years.
Upcoming Dividend • Jul 10Upcoming dividend of NT$10.00 per share at 1.7% yieldEligible shareholders must have bought the stock before 17 July 2023. Payment date: 04 August 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (4.2%).
Valuation Update With 7 Day Price Move • Jun 02Investor sentiment improves as stock rises 24%After last week's 24% share price gain to NT$635, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 20x in the Leisure industry in Taiwan. Total returns to shareholders of 1,627% over the past three years.
お知らせ • May 09Alexander Marine Co., Ltd. Appoints Yu Chou Huang as Corporate Governance OfficerAlexander Marine Co., Ltd. appointed Yu Chou Huang, CFO of Alexander Marine Co., Ltd. as Corporate Governance Officer. Effective date: May 8, 2023.
Valuation Update With 7 Day Price Move • Apr 21Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to NT$437, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Leisure industry in Taiwan. Total returns to shareholders of 1,410% over the past three years.
Reported Earnings • Mar 24Full year 2022 earnings: Revenues and EPS in line with analyst expectationsFull year 2022 results: EPS: NT$19.93 (up from NT$9.55 in FY 2021). Revenue: NT$5.56b (up 22% from FY 2021). Net income: NT$1.75b (up 105% from FY 2021). Profit margin: 32% (up from 19% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 1.2% growth forecast for the Leisure industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has increased by 163% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Mar 22Investor sentiment improves as stock rises 17%After last week's 17% share price gain to NT$430, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Leisure industry in Taiwan. Total returns to shareholders of 1,621% over the past three years.
Valuation Update With 7 Day Price Move • Feb 21Investor sentiment improves as stock rises 19%After last week's 19% share price gain to NT$405, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 11x in the Leisure industry in Taiwan. Total returns to shareholders of 944% over the past three years.
Valuation Update With 7 Day Price Move • Feb 06Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to NT$337, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 11x in the Leisure industry in Taiwan. Total returns to shareholders of 746% over the past three years.
Valuation Update With 7 Day Price Move • Jan 17Investor sentiment improved over the past weekAfter last week's 25% share price gain to NT$378, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 10x in the Leisure industry in Taiwan. Total returns to shareholders of 781% over the past three years.
Valuation Update With 7 Day Price Move • Nov 28Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$335, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 9x in the Leisure industry in Taiwan. Total returns to shareholders of 677% over the past three years.
Reported Earnings • Nov 18Third quarter 2022 earnings released: EPS: NT$4.72 (vs NT$2.02 in 3Q 2021)Third quarter 2022 results: EPS: NT$4.72 (up from NT$2.02 in 3Q 2021). Revenue: NT$1.23b (up 17% from 3Q 2021). Net income: NT$415.4m (up 132% from 3Q 2021). Profit margin: 34% (up from 17% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year whereas the company’s share price has increased by 84% per year.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Sheng Hsu Chu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Oct 25Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$220, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 10x in the Leisure industry in Taiwan. Total returns to shareholders of 409% over the past three years.
Valuation Update With 7 Day Price Move • Oct 03Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$278, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 10x in the Leisure industry in Taiwan. Total returns to shareholders of 509% over the past three years.
Valuation Update With 7 Day Price Move • Aug 18Investor sentiment improved over the past weekAfter last week's 22% share price gain to NT$260, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 12x in the Leisure industry in Taiwan. Total returns to shareholders of 494% over the past three years.
Reported Earnings • Aug 09Second quarter 2022 earnings released: EPS: NT$6.15 (vs NT$4.48 in 2Q 2021)Second quarter 2022 results: EPS: NT$6.15 (up from NT$4.48 in 2Q 2021). Revenue: NT$1.62b (down 4.2% from 2Q 2021). Net income: NT$540.9m (up 34% from 2Q 2021). Profit margin: 33% (up from 24% in 2Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 68% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jul 25Upcoming dividend of NT$5.00 per shareEligible shareholders must have bought the stock before 01 August 2022. Payment date: 19 August 2022. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Taiwanese dividend payers (6.6%). Lower than average of industry peers (4.4%).
Valuation Update With 7 Day Price Move • Jul 19Investor sentiment improved over the past weekAfter last week's 22% share price gain to NT$208, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 333% over the past three years.
Board Change • Jul 05Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Sheng Hsu Chu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Jul 01Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$169, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 327% over the past three years.
Valuation Update With 7 Day Price Move • May 30Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$212, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 476% over the past three years.
Reported Earnings • May 11First quarter 2022 earnings released: EPS: NT$4.40 (vs NT$0.10 in 1Q 2021)First quarter 2022 results: EPS: NT$4.40 (up from NT$0.10 in 1Q 2021). Revenue: NT$1.31b (up 91% from 1Q 2021). Net income: NT$387.3m (up NT$378.1m from 1Q 2021). Profit margin: 30% (up from 1.4% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 63% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • May 06Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$186, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 13x in the Leisure industry in Taiwan. Total returns to shareholders of 398% over the past three years.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Ming Cheng Chang was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Valuation Update With 7 Day Price Move • Apr 13Investor sentiment improved over the past weekAfter last week's 20% share price gain to NT$172, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 14x in the Leisure industry in Taiwan. Total returns to shareholders of 336% over the past three years.
Reported Earnings • Mar 10Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: NT$9.55 (up from NT$1.04 in FY 2020). Revenue: NT$4.55b (up 7.8% from FY 2020). Net income: NT$854.7m (up NT$760.3m from FY 2020). Profit margin: 19% (up from 2.2% in FY 2020). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 16%. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth.
Valuation Update With 7 Day Price Move • Feb 08Investor sentiment improved over the past weekAfter last week's 15% share price gain to NT$143, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 16x in the Leisure industry in Taiwan. Total returns to shareholders of 264% over the past three years.
Valuation Update With 7 Day Price Move • Nov 22Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$110, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 15x in the Leisure industry in Taiwan. Total returns to shareholders of 220% over the past three years.
Reported Earnings • Nov 10Third quarter 2021 earnings released: EPS NT$2.02 (vs NT$3.27 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$1.05b (up 22% from 3Q 2020). Net income: NT$179.4m (up NT$475.1m from 3Q 2020). Profit margin: 17% (up from net loss in 3Q 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 35% per year.
Upcoming Dividend • Oct 11Upcoming dividend of NT$1.02 per shareEligible shareholders must have bought the stock before 18 October 2021. Payment date: 05 November 2021. Trailing yield: 1.2%. Lower than top quartile of Taiwanese dividend payers (5.3%). Lower than average of industry peers (3.1%).
Valuation Update With 7 Day Price Move • Aug 19Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$81.30, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 16x in the Leisure industry in Taiwan. Total returns to shareholders of 86% over the past three years.
Reported Earnings • Aug 15Second quarter 2021 earnings released: EPS NT$4.48 (vs NT$2.97 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$1.69b (up 7.7% from 2Q 2020). Net income: NT$402.7m (up 49% from 2Q 2020). Profit margin: 24% (up from 17% in 2Q 2020). 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 21% per year, which means it is well ahead of earnings.
Executive Departure • Aug 03Independent Director Neng Mou Tu has left the companyOn the 26th of July, Neng Mou Tu's tenure as Independent Director ended after 3.1 years in the role. We don't have any record of a personal shareholding under Neng Mou's name. A total of 2 executives have left over the last 12 months.
Valuation Update With 7 Day Price Move • Aug 03Investor sentiment improved over the past weekAfter last week's 21% share price gain to NT$86.10, the stock trades at a trailing P/E ratio of 52.6x. Average trailing P/E is 20x in the Leisure industry in Taiwan. Total returns to shareholders of 79% over the past three years.
Executive Departure • Aug 03Director Yen Sung Chen has left the companyOn the 26th of July, Yen Sung Chen's tenure as Director ended after 2.1 years in the role. We don't have any record of a personal shareholding under Yen Sung's name. A total of 2 executives have left over the last 12 months.
Valuation Update With 7 Day Price Move • Jun 26Investor sentiment improved over the past weekAfter last week's 18% share price gain to NT$66.30, the stock trades at a trailing P/E ratio of 40.5x. Average trailing P/E is 20x in the Leisure industry in Taiwan. Total returns to shareholders of 21% over the past three years.
Valuation Update With 7 Day Price Move • May 16Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to NT$47.70, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 20x in the Leisure industry in Taiwan. Total loss to shareholders of 7.2% over the past three years.
Reported Earnings • May 11First quarter 2021 earnings released: EPS NT$0.10 (vs NT$0.49 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$683.9m (up 42% from 1Q 2020). Net income: NT$9.28m (up NT$53.4m from 1Q 2020). Profit margin: 1.4% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
分析記事 • Apr 21Does It Make Sense To Buy Alexander Marine Co., Ltd. (TPE:8478) For Its Yield?Today we'll take a closer look at Alexander Marine Co., Ltd. ( TPE:8478 ) from a dividend investor's perspective...
分析記事 • Apr 02We Think Alexander Marine (TPE:8478) Is Taking Some Risk With Its DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Valuation Update With 7 Day Price Move • Mar 29Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$57.70, the stock trades at a trailing P/E ratio of 55.3x. Average trailing P/E is 23x in the Leisure industry in Taiwan. Total returns to shareholders of 5.1% over the past three years.
Reported Earnings • Mar 24Full year 2020 earnings released: EPS NT$1.04 (vs NT$0.50 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: NT$4.22b (up 14% from FY 2019). Net income: NT$94.5m (up 105% from FY 2019). Profit margin: 2.2% (up from 1.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
分析記事 • Feb 25Has Alexander Marine (TPE:8478) Got What It Takes To Become A Multi-Bagger?Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Is New 90 Day High Low • Feb 01New 90-day low: NT$40.10The company is down 35% from its price of NT$61.70 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 Leisure industry, which is down 1.0% over the same period.
分析記事 • Jan 21Is Alexander Marine Co., Ltd.'s (TPE:8478) 4.5% ROE Worse Than Average?While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
Valuation Update With 7 Day Price Move • Jan 21Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to NT$40.75, the stock is trading at a trailing P/E ratio of 34.8x, down from the previous P/E ratio of 41.1x. This compares to an average P/E of 23x in the Leisure industry in Taiwan. Total return to shareholders over the past three years is a loss of 38%.
