View Future GrowthGourmet Master 過去の業績過去 基準チェック /06Gourmet Masterの収益は年間平均-37.5%の割合で減少していますが、 Hospitality業界の収益は年間 増加しています。収益は年間21.7% 1.8%割合で 減少しています。主要情報-37.49%収益成長率-37.49%EPS成長率Hospitality 業界の成長3.02%収益成長率-1.84%株主資本利益率-3.92%ネット・マージン-2.42%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • May 15First quarter 2026 earnings: EPS and revenues miss analyst expectationsFirst quarter 2026 results: EPS: NT$1.00. Revenue: NT$4.03b (down 17% from 1Q 2025). Net income: NT$236.6m (up 12% from 1Q 2025). Profit margin: 5.9% (up from 4.4% in 1Q 2025). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Hospitality industry in Taiwan.Reported Earnings • Mar 27Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: NT$2.47 loss per share (down from NT$3.28 profit in FY 2024). Revenue: NT$18.1b (down 4.6% from FY 2024). Net loss: NT$443.8m (down 175% from profit in FY 2024). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to stay flat during the next 3 years compared to a 5.2% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 46% 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 15Third quarter 2025 earnings: EPS misses analyst expectationsThird quarter 2025 results: NT$6.06 loss per share (down from NT$0.84 profit in 3Q 2024). Revenue: NT$4.32b (down 8.7% from 3Q 2024). Net loss: NT$1.09b (down NT$1.24b from profit in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 29Second quarter 2025 earnings released: EPS: NT$0.65 (vs NT$0.43 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.65 (up from NT$0.43 in 2Q 2024). Revenue: NT$4.62b (down 1.3% from 2Q 2024). Net income: NT$117.4m (up 53% from 2Q 2024). Profit margin: 2.5% (up from 1.6% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.Reported Earnings • May 15First quarter 2025 earnings: EPS exceeds analyst expectationsFirst quarter 2025 results: EPS: NT$1.18 (up from NT$0.89 in 1Q 2024). Revenue: NT$4.83b (up 4.0% from 1Q 2024). Net income: NT$211.6m (up 32% from 1Q 2024). Profit margin: 4.4% (up from 3.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.お知らせ • Apr 27Gourmet Master Co. Ltd. to Report Q1, 2025 Results on May 12, 2025Gourmet Master Co. Ltd. announced that they will report Q1, 2025 results on May 12, 2025すべての更新を表示Recent updatesReported Earnings • May 15First quarter 2026 earnings: EPS and revenues miss analyst expectationsFirst quarter 2026 results: EPS: NT$1.00. Revenue: NT$4.03b (down 17% from 1Q 2025). Net income: NT$236.6m (up 12% from 1Q 2025). Profit margin: 5.9% (up from 4.4% in 1Q 2025). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Hospitality industry in Taiwan.Reported Earnings • Mar 27Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: NT$2.47 loss per share (down from NT$3.28 profit in FY 2024). Revenue: NT$18.1b (down 4.6% from FY 2024). Net loss: NT$443.8m (down 175% from profit in FY 2024). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to stay flat during the next 3 years compared to a 5.2% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 46% 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.お知らせ • Mar 11Gourmet Master Co. Ltd., Annual General Meeting, May 26, 2026Gourmet Master Co. Ltd., Annual General Meeting, May 26, 2026, at 09:00 Taipei Standard Time. Location: no,29, kung yeh rd., nan tun district, taichung city TaiwanBoard Change • Dec 11Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Zhiwen Wang was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 15Third quarter 2025 earnings: EPS misses analyst expectationsThird quarter 2025 results: NT$6.06 loss per share (down from NT$0.84 profit in 3Q 2024). Revenue: NT$4.32b (down 8.7% from 3Q 2024). Net loss: NT$1.09b (down NT$1.24b from profit in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings.Price Target Changed • Oct 16Price target decreased by 7.3% to NT$88.67Down from NT$95.67, the current price target is an average from 3 analysts. New target price is 26% above last closing price of NT$70.50. Stock is down 21% over the past year. The company is forecast to post earnings per share of NT$1.14 for next year compared to NT$3.28 last year.Major Estimate Revision • Sep 04Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from NT$4.50 to NT$3.82 per share. Revenue forecast steady at NT$19.5b. Net income forecast to grow 26% next year vs 24% growth forecast for Hospitality industry in Taiwan. Consensus price target down from NT$95.50 to NT$93.00. Share price was steady at NT$81.00 over the past week.Reported Earnings • Aug 29Second quarter 2025 earnings released: EPS: NT$0.65 (vs NT$0.43 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.65 (up from NT$0.43 in 2Q 2024). Revenue: NT$4.62b (down 1.3% from 2Q 2024). Net income: NT$117.4m (up 53% from 2Q 2024). Profit margin: 2.5% (up from 1.6% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.Declared Dividend • Jun 07Dividend reduced to NT$3.00Dividend of NT$3.00 is 14% lower than last year. Ex-date: 23rd June 2025 Payment date: 10th July 2025 Dividend yield will be 3.3%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (84% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 110% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • May 15First quarter 2025 earnings: EPS exceeds analyst expectationsFirst quarter 2025 results: EPS: NT$1.18 (up from NT$0.89 in 1Q 2024). Revenue: NT$4.83b (up 4.0% from 1Q 2024). Net income: NT$211.6m (up 32% from 1Q 2024). Profit margin: 4.4% (up from 3.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Major Estimate Revision • May 13Consensus EPS estimates increase by 18%, revenue downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from NT$19.8b to NT$19.5b. EPS estimate rose from NT$4.00 to NT$4.71. Net income forecast to grow 44% next year vs 24% growth forecast for Hospitality industry in Taiwan. Consensus price target down from NT$102 to NT$99.00. Share price was steady at NT$91.00 over the past week.お知らせ • Apr 27Gourmet Master Co. Ltd. to Report Q1, 2025 Results on May 12, 2025Gourmet Master Co. Ltd. announced that they will report Q1, 2025 results on May 12, 2025Reported Earnings • Mar 22Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: NT$3.28 (down from NT$4.20 in FY 2023). Revenue: NT$19.0b (down 7.1% from FY 2023). Net income: NT$589.9m (down 22% from FY 2023). Profit margin: 3.1% (down from 3.7% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.9%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.お知らせ • Mar 14Gourmet Master Co. Ltd., Annual General Meeting, Jun 05, 2025Gourmet Master Co. Ltd., Annual General Meeting, Jun 05, 2025, at 09:00 Taipei Standard Time. Location: no,29, kung yeh rd., nan tun district, taichung city Taiwan分析記事 • Mar 13Getting In Cheap On Gourmet Master Co. Ltd. (TWSE:2723) Might Be DifficultGourmet Master Co. Ltd.'s ( TWSE:2723 ) price-to-earnings (or "P/E") ratio of 42.2x might make it look like a strong...お知らせ • Mar 13Gourmet Master Co. Ltd. Approves Cash Dividend for 2024Gourmet Master Co. Ltd. Board approved dividend for 2024. Date of occurrence of the event: March 12, 2025; Cause of occurrence: Board approves latest year cash dividend of TWD 3.0 per share.お知らせ • Mar 01Gourmet Master Co. Ltd. to Report Q4, 2024 Results on Mar 12, 2025Gourmet Master Co. Ltd. announced that they will report Q4, 2024 results on Mar 12, 2025Major Estimate Revision • Feb 21Consensus EPS estimates fall by 12%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from NT$4.21 to NT$3.68 per share. Revenue forecast steady at NT$19.1b. Net income forecast to grow 127% next year vs 21% growth forecast for Hospitality industry in Taiwan. Consensus price target broadly unchanged at NT$103. Share price rose 3.2% to NT$103 over the past week.分析記事 • Nov 21There May Be Some Bright Spots In Gourmet Master's (TWSE:2723) EarningsSoft earnings didn't appear to concern Gourmet Master Co. Ltd.'s ( TWSE:2723 ) shareholders over the last week. We...Reported Earnings • Nov 17Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: NT$0.84 (down from NT$1.27 in 3Q 2023). Revenue: NT$4.73b (down 8.0% from 3Q 2023). Net income: NT$151.8m (down 34% from 3Q 2023). Profit margin: 3.2% (down from 4.4% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 25% 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.お知らせ • Oct 22Gourmet Master Co. Ltd. to Report Q3, 2024 Results on Nov 11, 2024Gourmet Master Co. Ltd. announced that they will report Q3, 2024 results on Nov 11, 2024Major Estimate Revision • Sep 03Consensus EPS estimates fall by 29%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$19.2b to NT$18.9b. EPS estimate also fell from NT$4.89 per share to NT$3.49 per share. Net income forecast to grow 80% next year vs 11% growth forecast for Hospitality industry in Taiwan. Consensus price target broadly unchanged at NT$92.17. Share price was steady at NT$81.90 over the past week.Reported Earnings • Aug 28Second quarter 2024 earnings: EPS misses analyst expectationsSecond quarter 2024 results: EPS: NT$0.43 (down from NT$1.47 in 2Q 2023). Revenue: NT$4.68b (down 7.5% from 2Q 2023). Net income: NT$76.7m (down 71% from 2Q 2023). Profit margin: 1.6% (down from 5.2% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 60%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.お知らせ • Aug 10Gourmet Master Co. Ltd. to Report Q2, 2024 Results on Aug 22, 2024Gourmet Master Co. Ltd. announced that they will report Q2, 2024 results on Aug 22, 2024分析記事 • May 30Gourmet Master's (TWSE:2723) Shareholders Will Receive A Bigger Dividend Than Last YearGourmet Master Co. Ltd.'s ( TWSE:2723 ) dividend will be increasing from last year's payment of the same period to...Declared Dividend • May 30Dividend increased to NT$3.50Dividend of NT$3.50 is 40% higher than last year. Ex-date: 18th June 2024 Payment date: 10th July 2024 Dividend yield will be 3.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio). However, it is covered by cash flows (51% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.7% to bring the payout ratio under control. EPS is expected to grow by 88% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.Major Estimate Revision • May 20Consensus EPS estimates fall by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$19.5b to NT$18.7b. EPS estimate also fell from NT$5.56 per share to NT$4.73 per share. Net income forecast to grow 39% next year vs 36% growth forecast for Hospitality industry in Taiwan. Consensus price target broadly unchanged at NT$98.29. Share price was steady at NT$91.60 over the past week.Reported Earnings • May 16First quarter 2024 earnings: EPS and revenues miss analyst expectationsFirst quarter 2024 results: EPS: NT$0.89 (down from NT$1.38 in 1Q 2023). Revenue: NT$4.65b (down 11% from 1Q 2023). Net income: NT$160.9m (down 35% from 1Q 2023). Profit margin: 3.5% (down from 4.8% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.お知らせ • Apr 28Gourmet Master Co. Ltd. to Report Q1, 2024 Results on May 09, 2024Gourmet Master Co. Ltd. announced that they will report Q1, 2024 results on May 09, 2024分析記事 • Apr 03Gourmet Master's (TWSE:2723) Earnings May Just Be The Starting PointThe subdued stock price reaction suggests that Gourmet Master Co. Ltd.'s ( TWSE:2723 ) strong earnings didn't offer any...Reported Earnings • Mar 29Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: NT$4.20 (up from NT$2.68 in FY 2022). Revenue: NT$20.4b (up 4.7% from FY 2022). Net income: NT$756.6m (up 57% from FY 2022). Profit margin: 3.7% (up from 2.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 19% per year.お知らせ • Mar 16Gourmet Master Co. Ltd., Annual General Meeting, Jun 12, 2024Gourmet Master Co. Ltd., Annual General Meeting, Jun 12, 2024.お知らせ • Mar 14Gourmet Master Co. Ltd. Approves Cash Dividend for 2023Gourmet Master Co. Ltd. announced the board approves cash dividend of TWD 3.5 for 2023.Price Target Changed • Feb 16Price target decreased by 13% to NT$118Down from NT$135, the current price target is an average from 7 analysts. New target price is 30% above last closing price of NT$90.80. Stock is down 44% over the past year. The company is forecast to post earnings per share of NT$5.08 for next year compared to NT$2.68 last year.Major Estimate Revision • Nov 20Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$21.0b to NT$20.4b. EPS estimate also fell from NT$5.89 per share to NT$5.18 per share. Net income forecast to grow 28% next year vs 32% growth forecast for Hospitality industry in Taiwan. Consensus price target down from NT$145 to NT$138. Share price rose 3.0% to NT$103 over the past week.Price Target Changed • Nov 14Price target decreased by 7.8% to NT$142Down from NT$155, the current price target is an average from 7 analysts. New target price is 45% above last closing price of NT$98.30. Stock is down 10% over the past year. The company is forecast to post earnings per share of NT$5.90 for next year compared to NT$2.68 last year.Reported Earnings • Nov 14Third quarter 2023 earnings: EPS misses analyst expectationsThird quarter 2023 results: EPS: NT$1.27 (up from NT$0.92 in 3Q 2022). Revenue: NT$5.15b (flat on 3Q 2022). Net income: NT$228.7m (up 39% from 3Q 2022). Profit margin: 4.4% (up from 3.2% in 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.Price Target Changed • Nov 04Price target decreased by 10% to NT$147Down from NT$164, the current price target is an average from 7 analysts. New target price is 46% above last closing price of NT$101. Stock is up 1.5% over the past year. The company is forecast to post earnings per share of NT$5.95 for next year compared to NT$2.68 last year.Major Estimate Revision • Sep 08Consensus EPS estimates increase by 12%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from NT$5.83 to NT$6.55. Revenue forecast steady at NT$21.3b. Net income forecast to grow 59% next year vs 37% growth forecast for Hospitality industry in Taiwan. Consensus price target down from NT$174 to NT$164. Share price was steady at NT$114 over the past week.Reported Earnings • Sep 01Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2023 results: EPS: NT$1.47 (up from NT$0.27 loss in 2Q 2022). Revenue: NT$5.06b (up 16% from 2Q 2022). Net income: NT$264.9m (up NT$314.1m from 2Q 2022). Profit margin: 5.2% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 29%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.New Risk • Aug 08New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 92% Dividend yield: 2.1% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 Dividend is not well covered by earnings (92% payout ratio). Profit margins are more than 30% lower than last year (2.5% net profit margin).Price Target Changed • Jun 22Price target increased by 10% to NT$186Up from NT$169, the current price target is an average from 7 analysts. New target price is 26% above last closing price of NT$148. Stock is up 39% over the past year. The company is forecast to post earnings per share of NT$6.33 for next year compared to NT$2.68 last year.Upcoming Dividend • Jun 09Upcoming dividend of NT$2.50 per share at 1.6% yieldEligible shareholders must have bought the stock before 16 June 2023. Payment date: 10 July 2023. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (1.8%).Reported Earnings • May 16First quarter 2023 earnings: EPS exceeds analyst expectationsFirst quarter 2023 results: EPS: NT$1.38 (up from NT$1.33 in 1Q 2022). Revenue: NT$5.20b (up 7.1% from 1Q 2022). Net income: NT$247.7m (up 3.6% from 1Q 2022). Profit margin: 4.8% (down from 4.9% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.Major Estimate Revision • May 15Consensus EPS estimates increase by 17%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from NT$5.97 to NT$7.00. Revenue forecast steady at NT$21.5b. Net income forecast to grow 140% next year vs 33% growth forecast for Hospitality industry in Taiwan. Consensus price target up from NT$168 to NT$175. Share price was steady at NT$157 over the past week.Reported Earnings • Apr 01Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: NT$2.68 (down from NT$6.07 in FY 2021). Revenue: NT$19.5b (down 1.7% from FY 2021). Net income: NT$483.1m (down 56% from FY 2021). Profit margin: 2.5% (down from 5.5% in FY 2021). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.8%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings.Price Target Changed • Mar 24Price target increased by 10% to NT$156Up from NT$142, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of NT$157. Stock is up 68% over the past year. The company is forecast to post earnings per share of NT$2.99 for next year compared to NT$6.07 last year.Price Target Changed • Feb 14Price target increased by 9.4% to NT$133Up from NT$122, the current price target is an average from 7 analysts. New target price is 21% below last closing price of NT$168. Stock is up 49% over the past year. The company is forecast to post earnings per share of NT$3.05 for next year compared to NT$6.07 last year.Price Target Changed • Jan 18Price target increased to NT$122Up from NT$113, the current price target is an average from 7 analysts. New target price is 16% below last closing price of NT$145. Stock is up 35% over the past year. The company is forecast to post earnings per share of NT$3.12 for next year compared to NT$6.07 last year.Valuation Update With 7 Day Price Move • Dec 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$129, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 22x in the Hospitality industry in Taiwan. Total returns to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$106 per share.Reported Earnings • Nov 19Third quarter 2022 earnings: Revenues and EPS in line with analyst expectationsThird quarter 2022 results: EPS: NT$0.92 (down from NT$1.49 in 3Q 2021). Revenue: NT$5.15b (up 1.2% from 3Q 2021). Net income: NT$164.9m (down 38% from 3Q 2021). Profit margin: 3.2% (down from 5.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year.Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Zhi Yi Chi was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Buying Opportunity • Sep 28Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 5.4%. The fair value is estimated to be NT$133, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.5% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 93% in the next 2 years.Reported Earnings • Aug 26Second quarter 2022 earnings: EPS misses analyst expectationsSecond quarter 2022 results: NT$0.27 loss per share (down from NT$2.20 profit in 2Q 2021). Revenue: NT$4.38b (down 10% from 2Q 2021). Net loss: NT$49.3m (down 112% from profit in 2Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 3.4%, compared to a 40% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.Major Estimate Revision • Aug 25Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$4.57 to NT$4.10 per share. Revenue forecast steady at NT$19.2b. Net income forecast to shrink 23% next year vs 29% growth forecast for Hospitality industry in Taiwan . Consensus price target broadly unchanged at NT$107. Share price was steady at NT$98.30 over the past week.Major Estimate Revision • Aug 14Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$5.31 to NT$4.57 per share. Revenue forecast steady at NT$19.2b. Net income forecast to shrink 17% next year vs 22% growth forecast for Hospitality industry in Taiwan . Consensus price target broadly unchanged at NT$109. Share price fell 2.3% to NT$99.20 over the past week.Price Target Changed • Jul 22Price target increased to NT$111Up from NT$101, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of NT$107. Stock is down 33% over the past year. The company is forecast to post earnings per share of NT$5.04 for next year compared to NT$6.07 last year.Valuation Update With 7 Day Price Move • Jun 27Investor sentiment improved over the past weekAfter last week's 20% share price gain to NT$115, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 26x in the Hospitality industry in Asia. Total loss to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$221 per share.Upcoming Dividend • Jun 13Upcoming dividend of NT$5.00 per shareEligible shareholders must have bought the stock before 20 June 2022. Payment date: 11 July 2022. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (6.0%). Higher than average of industry peers (3.6%).お知らせ • Jun 03Gourmet Master Co. Ltd. Appoints Wu Meng Ta as DirectorGourmet Master Co. Ltd. appointed Wu Meng Ta as director, Effective date of the new appointment is June 2, 2022.Reported Earnings • May 16First quarter 2022 earnings: EPS exceeds analyst expectationsFirst quarter 2022 results: EPS: NT$1.33 (down from NT$1.40 in 1Q 2021). Revenue: NT$4.85b (flat on 1Q 2021). Net income: NT$239.0m (down 5.0% from 1Q 2021). Profit margin: 4.9% (down from 5.2% in 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Over the next year, revenue is forecast to grow 3.1%, compared to a 44% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings.Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Zhi Yi Chi was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Mar 31Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: NT$6.07 (up from NT$5.64 in FY 2020). Revenue: NT$19.9b (flat on FY 2020). Net income: NT$1.09b (up 7.7% from FY 2020). Profit margin: 5.5% (up from 5.2% in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.0%. Over the next year, revenue is forecast to grow 2.8%, compared to a 58% growth forecast for the restaurants industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.Major Estimate Revision • Mar 23Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$21.0b to NT$20.5b. EPS estimate also fell from NT$6.60 per share to NT$5.50 per share. Net income forecast to shrink 19% next year vs 24% growth forecast for Hospitality industry in Taiwan . Consensus price target down from NT$140 to NT$111. Share price fell 2.3% to NT$95.70 over the past week.Price Target Changed • Mar 16Price target decreased to NT$136Down from NT$148, the current price target is an average from 6 analysts. New target price is 47% above last closing price of NT$92.60. Stock is down 40% over the past year. The company is forecast to post earnings per share of NT$6.36 for next year compared to NT$5.64 last year.お知らせ • Feb 19Gourmet Master Co. Ltd., Annual General Meeting, Jun 02, 2022Gourmet Master Co. Ltd., Annual General Meeting, Jun 02, 2022. Location: No.29, Gongye 18th Rd., Nantun Dist Taichung City Taiwan Agenda: To consider Reported matters: business of 2021, Review report by Audit Committee; to consider Matters for Discussion: Amend Rules on Guarantees and Asset Acquisition; and to consider other matters.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$1.49 (vs NT$2.19 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$5.08b (down 4.3% from 3Q 2020). Net income: NT$267.3m (down 32% from 3Q 2020). Profit margin: 5.3% (down from 7.4% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 17% per year.Reported Earnings • Aug 30Second quarter 2021 earnings released: EPS NT$2.20 (vs NT$1.16 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$4.88b (up 10% from 2Q 2020). Net income: NT$396.2m (up 91% from 2Q 2020). Profit margin: 8.1% (up from 4.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Aug 26Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$144, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 24x in the Hospitality industry in Asia. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$247 per share.Upcoming Dividend • Jul 20Upcoming dividend of NT$4.00 per shareEligible shareholders must have bought the stock before 27 July 2021. Payment date: 13 August 2021. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (2.9%).Valuation Update With 7 Day Price Move • Jun 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$174, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 22x in the Hospitality industry in Asia. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$161 per share.Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$1.40 (vs NT$0.36 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$4.87b (up 3.7% from 1Q 2020). Net income: NT$251.5m (up 284% from 1Q 2020). Profit margin: 5.2% (up from 1.4% in 1Q 2020). 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 20% per year, which means it has not declined as severely as earnings.Price Target Changed • May 08Price target increased to NT$180Up from NT$166, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of NT$173. Stock is up 85% over the past year.分析記事 • Apr 26Is Gourmet Master (TPE:2723) A Risky Investment?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Reported Earnings • Apr 01Full year 2020 earnings released: EPS NT$5.64 (vs NT$5.18 in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$19.7b (down 15% from FY 2019). Net income: NT$1.02b (up 8.8% from FY 2019). Profit margin: 5.2% (up from 4.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings.Price Target Changed • Mar 30Price target increased to NT$161Up from NT$149, the current price target is an average from 11 analysts. New target price is 9.9% below last closing price of NT$179. Stock is up 138% over the past year.分析記事 • Mar 20Our Take On The Returns On Capital At Gourmet Master (TPE:2723)If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two...お知らせ • Mar 17Gourmet Master Co. Ltd., Annual General Meeting, Jun 04, 2021Gourmet Master Co. Ltd., Annual General Meeting, Jun 04, 2021.分析記事 • Mar 08Is There An Opportunity With Gourmet Master Co. Ltd.'s (TPE:2723) 41% Undervaluation?Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Gourmet Master Co...Is New 90 Day High Low • Mar 04New 90-day high: NT$166The company is up 14% from its price of NT$146 on 04 December 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Hospitality industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$269 per share.分析記事 • Feb 24Does Gourmet Master Co. Ltd.'s (TPE:2723) Weak Fundamentals Mean That The Market Could Correct Its Share Price?Gourmet Master's (TPE:2723) stock is up by a considerable 7.3% over the past week. We, however wanted to have a closer...分析記事 • Jan 31Here's Why We Think Gourmet Master's (TPE:2723) Statutory Earnings Might Be ConservativeMany investors consider it preferable to invest in profitable companies over unprofitable ones, because profitability...分析記事 • Jan 19Gourmet Master (TPE:2723) Seems To Use Debt Quite SensiblyLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...分析記事 • Jan 07How Much Of Gourmet Master Co. Ltd. (TPE:2723) Do Insiders Own?Every investor in Gourmet Master Co. Ltd. ( TPE:2723 ) should be aware of the most powerful shareholder groups...分析記事 • Dec 27Reflecting on Gourmet Master's (TPE:2723) Share Price Returns Over The Last Three YearsGourmet Master Co. Ltd. ( TPE:2723 ) shareholders will doubtless be very grateful to see the share price up 46% in the...分析記事 • Dec 16What Does Gourmet Master Co. Ltd.'s (TPE:2723) Share Price Indicate?Gourmet Master Co. Ltd. ( TPE:2723 ), is not the largest company out there, but it received a lot of attention from a...Is New 90 Day High Low • Dec 16New 90-day high: NT$160The company is up 47% from its price of NT$109 on 17 September 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$278 per share.分析記事 • Dec 05Are Investors Undervaluing Gourmet Master Co. Ltd. (TPE:2723) By 38%?How far off is Gourmet Master Co. Ltd. ( TPE:2723 ) from its intrinsic value? Using the most recent financial data...分析記事 • Nov 25Has Gourmet Master (TPE:2723) Got What It Takes To Become A Multi-Bagger?To find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...Major Estimate Revision • Nov 19Analysts update estimatesThe 2020 consensus earning per share (EPS) estimate increased from NT$4.53 to NT$5.74. Revenue estimate for the same period was approximately flat at NT$19.7b. Net income is expected to grow by 42% next year compared to 41% growth forecast for the Hospitality industry in Taiwan. The consensus price target increased from NT$113 to NT$127. Share price is up 20% to NT$150 over the past week.Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$2.19The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$5.31b (down 9.7% from 3Q 2019). Net income: NT$393.5m (up 65% from 3Q 2019). Profit margin: 7.4% (up from 4.1% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings.Analyst Estimate Surprise Post Earnings • Nov 14Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 71%. Over the next year, revenue is forecast to grow 4.4%, compared to a 6.4% growth forecast for the Hospitality industry in Taiwan.Valuation Update With 7 Day Price Move • Nov 11Market bids up stock over the past weekAfter last week's 15% share price gain to NT$121, the stock is trading at a trailing P/E ratio of 32.3x, up from the previous P/E ratio of 28x. This compares to an average P/E of 26x in the Hospitality industry in Taiwan. Total return to shareholders over the past three years is a loss of 62%.Price Target Changed • Nov 11Price target raised to NT$113Up from NT$105, the current price target is an average from 11 analysts. The new target price is 6.6% below the current share price of NT$121. As of last close, the stock is down 6.9% over the past year.Is New 90 Day High Low • Nov 10New 90-day high: NT$119The company is up 14% from its price of NT$104 on 12 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$363 per share.収支内訳Gourmet Master の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史TWSE:2723 収益、費用、利益 ( )TWD Millions日付収益収益G+A経費研究開発費31 Mar 2617,302-4199,5886831 Dec 2518,107-44410,0196930 Sep 2518,689-56110,3517030 Jun 2519,10368110,0857131 Mar 2519,16364110,1317231 Dec 2418,97959010,0407230 Sep 2419,08240510,2357430 Jun 2419,49648210,4257631 Mar 2419,87367010,6027531 Dec 2320,42475710,8477730 Sep 2320,54287010,8097630 Jun 2320,54080610,7867531 Mar 2319,86049210,6307431 Dec 2219,51448310,4486930 Sep 2219,40153310,3596030 Jun 2219,33963510,2935031 Mar 2219,8381,08110,3184431 Dec 2119,8611,09310,2963930 Sep 2120,0801,26310,2063730 Jun 2120,3101,38910,1763631 Mar 2119,8521,2019,9333431 Dec 2019,6791,01510,0633230 Sep 2020,18982910,4923230 Jun 2020,76167410,9383431 Mar 2022,15268111,7323631 Dec 1923,15793312,0733630 Sep 1923,2641,06212,0823530 Jun 1923,3531,18212,0843531 Mar 1923,6861,48511,9313531 Dec 1824,1151,66811,8453530 Sep 1824,3941,95511,7473630 Jun 1824,6072,20211,5493731 Mar 1823,8012,16011,1683731 Dec 1723,0182,13810,7843830 Sep 1722,3962,06310,4823630 Jun 1721,8381,95310,3033431 Mar 1721,9311,85010,3643231 Dec 1622,0471,74110,4323230 Sep 1621,9811,58810,4013230 Jun 1621,8371,50710,2813331 Mar 1621,1501,31910,0353531 Dec 1520,4571,1399,8733630 Sep 1519,8481,0009,76940質の高い収益: 2723は現在利益が出ていません。利益率の向上: 2723は現在利益が出ていません。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: 2723は利益が出ておらず、過去 5 年間で損失は年間37.5%の割合で増加しています。成長の加速: 2723の過去 1 年間の収益成長を 5 年間の平均と比較することはできません。現在は利益が出ていないためです。収益対業界: 2723は利益が出ていないため、過去 1 年間の収益成長をHospitality業界 ( 32.4% ) と比較することは困難です。株主資本利益率高いROE: 2723は現在利益が出ていないため、自己資本利益率 ( -3.92% ) はマイナスです。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YConsumer-services 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/08/23 12:32終値2026/08/21 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Gourmet Master Co. Ltd. 3 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。15 アナリスト機関Ti-Rung HuangBarclaysHongyan LinCGS InternationalAnita ChenCLSA12 その他のアナリストを表示
Reported Earnings • May 15First quarter 2026 earnings: EPS and revenues miss analyst expectationsFirst quarter 2026 results: EPS: NT$1.00. Revenue: NT$4.03b (down 17% from 1Q 2025). Net income: NT$236.6m (up 12% from 1Q 2025). Profit margin: 5.9% (up from 4.4% in 1Q 2025). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Hospitality industry in Taiwan.
Reported Earnings • Mar 27Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: NT$2.47 loss per share (down from NT$3.28 profit in FY 2024). Revenue: NT$18.1b (down 4.6% from FY 2024). Net loss: NT$443.8m (down 175% from profit in FY 2024). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to stay flat during the next 3 years compared to a 5.2% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 46% 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 15Third quarter 2025 earnings: EPS misses analyst expectationsThird quarter 2025 results: NT$6.06 loss per share (down from NT$0.84 profit in 3Q 2024). Revenue: NT$4.32b (down 8.7% from 3Q 2024). Net loss: NT$1.09b (down NT$1.24b from profit in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 29Second quarter 2025 earnings released: EPS: NT$0.65 (vs NT$0.43 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.65 (up from NT$0.43 in 2Q 2024). Revenue: NT$4.62b (down 1.3% from 2Q 2024). Net income: NT$117.4m (up 53% from 2Q 2024). Profit margin: 2.5% (up from 1.6% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
Reported Earnings • May 15First quarter 2025 earnings: EPS exceeds analyst expectationsFirst quarter 2025 results: EPS: NT$1.18 (up from NT$0.89 in 1Q 2024). Revenue: NT$4.83b (up 4.0% from 1Q 2024). Net income: NT$211.6m (up 32% from 1Q 2024). Profit margin: 4.4% (up from 3.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
お知らせ • Apr 27Gourmet Master Co. Ltd. to Report Q1, 2025 Results on May 12, 2025Gourmet Master Co. Ltd. announced that they will report Q1, 2025 results on May 12, 2025
Reported Earnings • May 15First quarter 2026 earnings: EPS and revenues miss analyst expectationsFirst quarter 2026 results: EPS: NT$1.00. Revenue: NT$4.03b (down 17% from 1Q 2025). Net income: NT$236.6m (up 12% from 1Q 2025). Profit margin: 5.9% (up from 4.4% in 1Q 2025). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Hospitality industry in Taiwan.
Reported Earnings • Mar 27Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: NT$2.47 loss per share (down from NT$3.28 profit in FY 2024). Revenue: NT$18.1b (down 4.6% from FY 2024). Net loss: NT$443.8m (down 175% from profit in FY 2024). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to stay flat during the next 3 years compared to a 5.2% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 46% 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.
お知らせ • Mar 11Gourmet Master Co. Ltd., Annual General Meeting, May 26, 2026Gourmet Master Co. Ltd., Annual General Meeting, May 26, 2026, at 09:00 Taipei Standard Time. Location: no,29, kung yeh rd., nan tun district, taichung city Taiwan
Board Change • Dec 11Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Zhiwen Wang was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 15Third quarter 2025 earnings: EPS misses analyst expectationsThird quarter 2025 results: NT$6.06 loss per share (down from NT$0.84 profit in 3Q 2024). Revenue: NT$4.32b (down 8.7% from 3Q 2024). Net loss: NT$1.09b (down NT$1.24b from profit in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings.
Price Target Changed • Oct 16Price target decreased by 7.3% to NT$88.67Down from NT$95.67, the current price target is an average from 3 analysts. New target price is 26% above last closing price of NT$70.50. Stock is down 21% over the past year. The company is forecast to post earnings per share of NT$1.14 for next year compared to NT$3.28 last year.
Major Estimate Revision • Sep 04Consensus EPS estimates fall by 15%The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from NT$4.50 to NT$3.82 per share. Revenue forecast steady at NT$19.5b. Net income forecast to grow 26% next year vs 24% growth forecast for Hospitality industry in Taiwan. Consensus price target down from NT$95.50 to NT$93.00. Share price was steady at NT$81.00 over the past week.
Reported Earnings • Aug 29Second quarter 2025 earnings released: EPS: NT$0.65 (vs NT$0.43 in 2Q 2024)Second quarter 2025 results: EPS: NT$0.65 (up from NT$0.43 in 2Q 2024). Revenue: NT$4.62b (down 1.3% from 2Q 2024). Net income: NT$117.4m (up 53% from 2Q 2024). Profit margin: 2.5% (up from 1.6% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
Declared Dividend • Jun 07Dividend reduced to NT$3.00Dividend of NT$3.00 is 14% lower than last year. Ex-date: 23rd June 2025 Payment date: 10th July 2025 Dividend yield will be 3.3%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (84% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 110% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • May 15First quarter 2025 earnings: EPS exceeds analyst expectationsFirst quarter 2025 results: EPS: NT$1.18 (up from NT$0.89 in 1Q 2024). Revenue: NT$4.83b (up 4.0% from 1Q 2024). Net income: NT$211.6m (up 32% from 1Q 2024). Profit margin: 4.4% (up from 3.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.7%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Major Estimate Revision • May 13Consensus EPS estimates increase by 18%, revenue downgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from NT$19.8b to NT$19.5b. EPS estimate rose from NT$4.00 to NT$4.71. Net income forecast to grow 44% next year vs 24% growth forecast for Hospitality industry in Taiwan. Consensus price target down from NT$102 to NT$99.00. Share price was steady at NT$91.00 over the past week.
お知らせ • Apr 27Gourmet Master Co. Ltd. to Report Q1, 2025 Results on May 12, 2025Gourmet Master Co. Ltd. announced that they will report Q1, 2025 results on May 12, 2025
Reported Earnings • Mar 22Full year 2024 earnings: EPS misses analyst expectationsFull year 2024 results: EPS: NT$3.28 (down from NT$4.20 in FY 2023). Revenue: NT$19.0b (down 7.1% from FY 2023). Net income: NT$589.9m (down 22% from FY 2023). Profit margin: 3.1% (down from 3.7% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.9%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
お知らせ • Mar 14Gourmet Master Co. Ltd., Annual General Meeting, Jun 05, 2025Gourmet Master Co. Ltd., Annual General Meeting, Jun 05, 2025, at 09:00 Taipei Standard Time. Location: no,29, kung yeh rd., nan tun district, taichung city Taiwan
分析記事 • Mar 13Getting In Cheap On Gourmet Master Co. Ltd. (TWSE:2723) Might Be DifficultGourmet Master Co. Ltd.'s ( TWSE:2723 ) price-to-earnings (or "P/E") ratio of 42.2x might make it look like a strong...
お知らせ • Mar 13Gourmet Master Co. Ltd. Approves Cash Dividend for 2024Gourmet Master Co. Ltd. Board approved dividend for 2024. Date of occurrence of the event: March 12, 2025; Cause of occurrence: Board approves latest year cash dividend of TWD 3.0 per share.
お知らせ • Mar 01Gourmet Master Co. Ltd. to Report Q4, 2024 Results on Mar 12, 2025Gourmet Master Co. Ltd. announced that they will report Q4, 2024 results on Mar 12, 2025
Major Estimate Revision • Feb 21Consensus EPS estimates fall by 12%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from NT$4.21 to NT$3.68 per share. Revenue forecast steady at NT$19.1b. Net income forecast to grow 127% next year vs 21% growth forecast for Hospitality industry in Taiwan. Consensus price target broadly unchanged at NT$103. Share price rose 3.2% to NT$103 over the past week.
分析記事 • Nov 21There May Be Some Bright Spots In Gourmet Master's (TWSE:2723) EarningsSoft earnings didn't appear to concern Gourmet Master Co. Ltd.'s ( TWSE:2723 ) shareholders over the last week. We...
Reported Earnings • Nov 17Third quarter 2024 earnings: EPS misses analyst expectationsThird quarter 2024 results: EPS: NT$0.84 (down from NT$1.27 in 3Q 2023). Revenue: NT$4.73b (down 8.0% from 3Q 2023). Net income: NT$151.8m (down 34% from 3Q 2023). Profit margin: 3.2% (down from 4.4% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 25% 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.
お知らせ • Oct 22Gourmet Master Co. Ltd. to Report Q3, 2024 Results on Nov 11, 2024Gourmet Master Co. Ltd. announced that they will report Q3, 2024 results on Nov 11, 2024
Major Estimate Revision • Sep 03Consensus EPS estimates fall by 29%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$19.2b to NT$18.9b. EPS estimate also fell from NT$4.89 per share to NT$3.49 per share. Net income forecast to grow 80% next year vs 11% growth forecast for Hospitality industry in Taiwan. Consensus price target broadly unchanged at NT$92.17. Share price was steady at NT$81.90 over the past week.
Reported Earnings • Aug 28Second quarter 2024 earnings: EPS misses analyst expectationsSecond quarter 2024 results: EPS: NT$0.43 (down from NT$1.47 in 2Q 2023). Revenue: NT$4.68b (down 7.5% from 2Q 2023). Net income: NT$76.7m (down 71% from 2Q 2023). Profit margin: 1.6% (down from 5.2% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 60%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
お知らせ • Aug 10Gourmet Master Co. Ltd. to Report Q2, 2024 Results on Aug 22, 2024Gourmet Master Co. Ltd. announced that they will report Q2, 2024 results on Aug 22, 2024
分析記事 • May 30Gourmet Master's (TWSE:2723) Shareholders Will Receive A Bigger Dividend Than Last YearGourmet Master Co. Ltd.'s ( TWSE:2723 ) dividend will be increasing from last year's payment of the same period to...
Declared Dividend • May 30Dividend increased to NT$3.50Dividend of NT$3.50 is 40% higher than last year. Ex-date: 18th June 2024 Payment date: 10th July 2024 Dividend yield will be 3.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio). However, it is covered by cash flows (51% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.7% to bring the payout ratio under control. EPS is expected to grow by 88% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
Major Estimate Revision • May 20Consensus EPS estimates fall by 15%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from NT$19.5b to NT$18.7b. EPS estimate also fell from NT$5.56 per share to NT$4.73 per share. Net income forecast to grow 39% next year vs 36% growth forecast for Hospitality industry in Taiwan. Consensus price target broadly unchanged at NT$98.29. Share price was steady at NT$91.60 over the past week.
Reported Earnings • May 16First quarter 2024 earnings: EPS and revenues miss analyst expectationsFirst quarter 2024 results: EPS: NT$0.89 (down from NT$1.38 in 1Q 2023). Revenue: NT$4.65b (down 11% from 1Q 2023). Net income: NT$160.9m (down 35% from 1Q 2023). Profit margin: 3.5% (down from 4.8% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
お知らせ • Apr 28Gourmet Master Co. Ltd. to Report Q1, 2024 Results on May 09, 2024Gourmet Master Co. Ltd. announced that they will report Q1, 2024 results on May 09, 2024
分析記事 • Apr 03Gourmet Master's (TWSE:2723) Earnings May Just Be The Starting PointThe subdued stock price reaction suggests that Gourmet Master Co. Ltd.'s ( TWSE:2723 ) strong earnings didn't offer any...
Reported Earnings • Mar 29Full year 2023 earnings: EPS misses analyst expectationsFull year 2023 results: EPS: NT$4.20 (up from NT$2.68 in FY 2022). Revenue: NT$20.4b (up 4.7% from FY 2022). Net income: NT$756.6m (up 57% from FY 2022). Profit margin: 3.7% (up from 2.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 19% per year.
お知らせ • Mar 16Gourmet Master Co. Ltd., Annual General Meeting, Jun 12, 2024Gourmet Master Co. Ltd., Annual General Meeting, Jun 12, 2024.
お知らせ • Mar 14Gourmet Master Co. Ltd. Approves Cash Dividend for 2023Gourmet Master Co. Ltd. announced the board approves cash dividend of TWD 3.5 for 2023.
Price Target Changed • Feb 16Price target decreased by 13% to NT$118Down from NT$135, the current price target is an average from 7 analysts. New target price is 30% above last closing price of NT$90.80. Stock is down 44% over the past year. The company is forecast to post earnings per share of NT$5.08 for next year compared to NT$2.68 last year.
Major Estimate Revision • Nov 20Consensus EPS estimates fall by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from NT$21.0b to NT$20.4b. EPS estimate also fell from NT$5.89 per share to NT$5.18 per share. Net income forecast to grow 28% next year vs 32% growth forecast for Hospitality industry in Taiwan. Consensus price target down from NT$145 to NT$138. Share price rose 3.0% to NT$103 over the past week.
Price Target Changed • Nov 14Price target decreased by 7.8% to NT$142Down from NT$155, the current price target is an average from 7 analysts. New target price is 45% above last closing price of NT$98.30. Stock is down 10% over the past year. The company is forecast to post earnings per share of NT$5.90 for next year compared to NT$2.68 last year.
Reported Earnings • Nov 14Third quarter 2023 earnings: EPS misses analyst expectationsThird quarter 2023 results: EPS: NT$1.27 (up from NT$0.92 in 3Q 2022). Revenue: NT$5.15b (flat on 3Q 2022). Net income: NT$228.7m (up 39% from 3Q 2022). Profit margin: 4.4% (up from 3.2% in 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
Price Target Changed • Nov 04Price target decreased by 10% to NT$147Down from NT$164, the current price target is an average from 7 analysts. New target price is 46% above last closing price of NT$101. Stock is up 1.5% over the past year. The company is forecast to post earnings per share of NT$5.95 for next year compared to NT$2.68 last year.
Major Estimate Revision • Sep 08Consensus EPS estimates increase by 12%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from NT$5.83 to NT$6.55. Revenue forecast steady at NT$21.3b. Net income forecast to grow 59% next year vs 37% growth forecast for Hospitality industry in Taiwan. Consensus price target down from NT$174 to NT$164. Share price was steady at NT$114 over the past week.
Reported Earnings • Sep 01Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behindSecond quarter 2023 results: EPS: NT$1.47 (up from NT$0.27 loss in 2Q 2022). Revenue: NT$5.06b (up 16% from 2Q 2022). Net income: NT$264.9m (up NT$314.1m from 2Q 2022). Profit margin: 5.2% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 29%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
New Risk • Aug 08New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 92% Dividend yield: 2.1% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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 Dividend is not well covered by earnings (92% payout ratio). Profit margins are more than 30% lower than last year (2.5% net profit margin).
Price Target Changed • Jun 22Price target increased by 10% to NT$186Up from NT$169, the current price target is an average from 7 analysts. New target price is 26% above last closing price of NT$148. Stock is up 39% over the past year. The company is forecast to post earnings per share of NT$6.33 for next year compared to NT$2.68 last year.
Upcoming Dividend • Jun 09Upcoming dividend of NT$2.50 per share at 1.6% yieldEligible shareholders must have bought the stock before 16 June 2023. Payment date: 10 July 2023. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Taiwanese dividend payers (5.5%). Lower than average of industry peers (1.8%).
Reported Earnings • May 16First quarter 2023 earnings: EPS exceeds analyst expectationsFirst quarter 2023 results: EPS: NT$1.38 (up from NT$1.33 in 1Q 2022). Revenue: NT$5.20b (up 7.1% from 1Q 2022). Net income: NT$247.7m (up 3.6% from 1Q 2022). Profit margin: 4.8% (down from 4.9% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings.
Major Estimate Revision • May 15Consensus EPS estimates increase by 17%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from NT$5.97 to NT$7.00. Revenue forecast steady at NT$21.5b. Net income forecast to grow 140% next year vs 33% growth forecast for Hospitality industry in Taiwan. Consensus price target up from NT$168 to NT$175. Share price was steady at NT$157 over the past week.
Reported Earnings • Apr 01Full year 2022 earnings: EPS misses analyst expectationsFull year 2022 results: EPS: NT$2.68 (down from NT$6.07 in FY 2021). Revenue: NT$19.5b (down 1.7% from FY 2021). Net income: NT$483.1m (down 56% from FY 2021). Profit margin: 2.5% (down from 5.5% in FY 2021). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.8%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings.
Price Target Changed • Mar 24Price target increased by 10% to NT$156Up from NT$142, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of NT$157. Stock is up 68% over the past year. The company is forecast to post earnings per share of NT$2.99 for next year compared to NT$6.07 last year.
Price Target Changed • Feb 14Price target increased by 9.4% to NT$133Up from NT$122, the current price target is an average from 7 analysts. New target price is 21% below last closing price of NT$168. Stock is up 49% over the past year. The company is forecast to post earnings per share of NT$3.05 for next year compared to NT$6.07 last year.
Price Target Changed • Jan 18Price target increased to NT$122Up from NT$113, the current price target is an average from 7 analysts. New target price is 16% below last closing price of NT$145. Stock is up 35% over the past year. The company is forecast to post earnings per share of NT$3.12 for next year compared to NT$6.07 last year.
Valuation Update With 7 Day Price Move • Dec 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$129, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 22x in the Hospitality industry in Taiwan. Total returns to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$106 per share.
Reported Earnings • Nov 19Third quarter 2022 earnings: Revenues and EPS in line with analyst expectationsThird quarter 2022 results: EPS: NT$0.92 (down from NT$1.49 in 3Q 2021). Revenue: NT$5.15b (up 1.2% from 3Q 2021). Net income: NT$164.9m (down 38% from 3Q 2021). Profit margin: 3.2% (down from 5.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year.
Board Change • Nov 16Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Zhi Yi Chi was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Buying Opportunity • Sep 28Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 5.4%. The fair value is estimated to be NT$133, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.5% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 93% in the next 2 years.
Reported Earnings • Aug 26Second quarter 2022 earnings: EPS misses analyst expectationsSecond quarter 2022 results: NT$0.27 loss per share (down from NT$2.20 profit in 2Q 2021). Revenue: NT$4.38b (down 10% from 2Q 2021). Net loss: NT$49.3m (down 112% from profit in 2Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 3.4%, compared to a 40% growth forecast for the Hospitality industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.
Major Estimate Revision • Aug 25Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$4.57 to NT$4.10 per share. Revenue forecast steady at NT$19.2b. Net income forecast to shrink 23% next year vs 29% growth forecast for Hospitality industry in Taiwan . Consensus price target broadly unchanged at NT$107. Share price was steady at NT$98.30 over the past week.
Major Estimate Revision • Aug 14Consensus forecasts updatedThe consensus outlook for 2022 has been updated. 2022 EPS estimate fell from NT$5.31 to NT$4.57 per share. Revenue forecast steady at NT$19.2b. Net income forecast to shrink 17% next year vs 22% growth forecast for Hospitality industry in Taiwan . Consensus price target broadly unchanged at NT$109. Share price fell 2.3% to NT$99.20 over the past week.
Price Target Changed • Jul 22Price target increased to NT$111Up from NT$101, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of NT$107. Stock is down 33% over the past year. The company is forecast to post earnings per share of NT$5.04 for next year compared to NT$6.07 last year.
Valuation Update With 7 Day Price Move • Jun 27Investor sentiment improved over the past weekAfter last week's 20% share price gain to NT$115, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 26x in the Hospitality industry in Asia. Total loss to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$221 per share.
Upcoming Dividend • Jun 13Upcoming dividend of NT$5.00 per shareEligible shareholders must have bought the stock before 20 June 2022. Payment date: 11 July 2022. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Taiwanese dividend payers (6.0%). Higher than average of industry peers (3.6%).
お知らせ • Jun 03Gourmet Master Co. Ltd. Appoints Wu Meng Ta as DirectorGourmet Master Co. Ltd. appointed Wu Meng Ta as director, Effective date of the new appointment is June 2, 2022.
Reported Earnings • May 16First quarter 2022 earnings: EPS exceeds analyst expectationsFirst quarter 2022 results: EPS: NT$1.33 (down from NT$1.40 in 1Q 2021). Revenue: NT$4.85b (flat on 1Q 2021). Net income: NT$239.0m (down 5.0% from 1Q 2021). Profit margin: 4.9% (down from 5.2% in 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Over the next year, revenue is forecast to grow 3.1%, compared to a 44% growth forecast for the industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings.
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Zhi Yi Chi was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Mar 31Full year 2021 earnings: EPS misses analyst expectationsFull year 2021 results: EPS: NT$6.07 (up from NT$5.64 in FY 2020). Revenue: NT$19.9b (flat on FY 2020). Net income: NT$1.09b (up 7.7% from FY 2020). Profit margin: 5.5% (up from 5.2% in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.0%. Over the next year, revenue is forecast to grow 2.8%, compared to a 58% growth forecast for the restaurants industry in Taiwan. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings.
Major Estimate Revision • Mar 23Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from NT$21.0b to NT$20.5b. EPS estimate also fell from NT$6.60 per share to NT$5.50 per share. Net income forecast to shrink 19% next year vs 24% growth forecast for Hospitality industry in Taiwan . Consensus price target down from NT$140 to NT$111. Share price fell 2.3% to NT$95.70 over the past week.
Price Target Changed • Mar 16Price target decreased to NT$136Down from NT$148, the current price target is an average from 6 analysts. New target price is 47% above last closing price of NT$92.60. Stock is down 40% over the past year. The company is forecast to post earnings per share of NT$6.36 for next year compared to NT$5.64 last year.
お知らせ • Feb 19Gourmet Master Co. Ltd., Annual General Meeting, Jun 02, 2022Gourmet Master Co. Ltd., Annual General Meeting, Jun 02, 2022. Location: No.29, Gongye 18th Rd., Nantun Dist Taichung City Taiwan Agenda: To consider Reported matters: business of 2021, Review report by Audit Committee; to consider Matters for Discussion: Amend Rules on Guarantees and Asset Acquisition; and to consider other matters.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS NT$1.49 (vs NT$2.19 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: NT$5.08b (down 4.3% from 3Q 2020). Net income: NT$267.3m (down 32% from 3Q 2020). Profit margin: 5.3% (down from 7.4% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 17% per year.
Reported Earnings • Aug 30Second quarter 2021 earnings released: EPS NT$2.20 (vs NT$1.16 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: NT$4.88b (up 10% from 2Q 2020). Net income: NT$396.2m (up 91% from 2Q 2020). Profit margin: 8.1% (up from 4.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Aug 26Investor sentiment improved over the past weekAfter last week's 17% share price gain to NT$144, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 24x in the Hospitality industry in Asia. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$247 per share.
Upcoming Dividend • Jul 20Upcoming dividend of NT$4.00 per shareEligible shareholders must have bought the stock before 27 July 2021. Payment date: 13 August 2021. Trailing yield: 2.4%. Lower than top quartile of Taiwanese dividend payers (4.9%). Lower than average of industry peers (2.9%).
Valuation Update With 7 Day Price Move • Jun 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to NT$174, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 22x in the Hospitality industry in Asia. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at NT$161 per share.
Reported Earnings • May 15First quarter 2021 earnings released: EPS NT$1.40 (vs NT$0.36 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: NT$4.87b (up 3.7% from 1Q 2020). Net income: NT$251.5m (up 284% from 1Q 2020). Profit margin: 5.2% (up from 1.4% in 1Q 2020). 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 20% per year, which means it has not declined as severely as earnings.
Price Target Changed • May 08Price target increased to NT$180Up from NT$166, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of NT$173. Stock is up 85% over the past year.
分析記事 • Apr 26Is Gourmet Master (TPE:2723) A Risky Investment?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Reported Earnings • Apr 01Full year 2020 earnings released: EPS NT$5.64 (vs NT$5.18 in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: NT$19.7b (down 15% from FY 2019). Net income: NT$1.02b (up 8.8% from FY 2019). Profit margin: 5.2% (up from 4.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings.
Price Target Changed • Mar 30Price target increased to NT$161Up from NT$149, the current price target is an average from 11 analysts. New target price is 9.9% below last closing price of NT$179. Stock is up 138% over the past year.
分析記事 • Mar 20Our Take On The Returns On Capital At Gourmet Master (TPE:2723)If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two...
お知らせ • Mar 17Gourmet Master Co. Ltd., Annual General Meeting, Jun 04, 2021Gourmet Master Co. Ltd., Annual General Meeting, Jun 04, 2021.
分析記事 • Mar 08Is There An Opportunity With Gourmet Master Co. Ltd.'s (TPE:2723) 41% Undervaluation?Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Gourmet Master Co...
Is New 90 Day High Low • Mar 04New 90-day high: NT$166The company is up 14% from its price of NT$146 on 04 December 2020. The Taiwanese market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Hospitality industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$269 per share.
分析記事 • Feb 24Does Gourmet Master Co. Ltd.'s (TPE:2723) Weak Fundamentals Mean That The Market Could Correct Its Share Price?Gourmet Master's (TPE:2723) stock is up by a considerable 7.3% over the past week. We, however wanted to have a closer...
分析記事 • Jan 31Here's Why We Think Gourmet Master's (TPE:2723) Statutory Earnings Might Be ConservativeMany investors consider it preferable to invest in profitable companies over unprofitable ones, because profitability...
分析記事 • Jan 19Gourmet Master (TPE:2723) Seems To Use Debt Quite SensiblyLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
分析記事 • Jan 07How Much Of Gourmet Master Co. Ltd. (TPE:2723) Do Insiders Own?Every investor in Gourmet Master Co. Ltd. ( TPE:2723 ) should be aware of the most powerful shareholder groups...
分析記事 • Dec 27Reflecting on Gourmet Master's (TPE:2723) Share Price Returns Over The Last Three YearsGourmet Master Co. Ltd. ( TPE:2723 ) shareholders will doubtless be very grateful to see the share price up 46% in the...
分析記事 • Dec 16What Does Gourmet Master Co. Ltd.'s (TPE:2723) Share Price Indicate?Gourmet Master Co. Ltd. ( TPE:2723 ), is not the largest company out there, but it received a lot of attention from a...
Is New 90 Day High Low • Dec 16New 90-day high: NT$160The company is up 47% from its price of NT$109 on 17 September 2020. The Taiwanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$278 per share.
分析記事 • Dec 05Are Investors Undervaluing Gourmet Master Co. Ltd. (TPE:2723) By 38%?How far off is Gourmet Master Co. Ltd. ( TPE:2723 ) from its intrinsic value? Using the most recent financial data...
分析記事 • Nov 25Has Gourmet Master (TPE:2723) Got What It Takes To Become A Multi-Bagger?To find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...
Major Estimate Revision • Nov 19Analysts update estimatesThe 2020 consensus earning per share (EPS) estimate increased from NT$4.53 to NT$5.74. Revenue estimate for the same period was approximately flat at NT$19.7b. Net income is expected to grow by 42% next year compared to 41% growth forecast for the Hospitality industry in Taiwan. The consensus price target increased from NT$113 to NT$127. Share price is up 20% to NT$150 over the past week.
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS NT$2.19The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: NT$5.31b (down 9.7% from 3Q 2019). Net income: NT$393.5m (up 65% from 3Q 2019). Profit margin: 7.4% (up from 4.1% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings.
Analyst Estimate Surprise Post Earnings • Nov 14Revenue and earnings beat expectationsRevenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 71%. Over the next year, revenue is forecast to grow 4.4%, compared to a 6.4% growth forecast for the Hospitality industry in Taiwan.
Valuation Update With 7 Day Price Move • Nov 11Market bids up stock over the past weekAfter last week's 15% share price gain to NT$121, the stock is trading at a trailing P/E ratio of 32.3x, up from the previous P/E ratio of 28x. This compares to an average P/E of 26x in the Hospitality industry in Taiwan. Total return to shareholders over the past three years is a loss of 62%.
Price Target Changed • Nov 11Price target raised to NT$113Up from NT$105, the current price target is an average from 11 analysts. The new target price is 6.6% below the current share price of NT$121. As of last close, the stock is down 6.9% over the past year.
Is New 90 Day High Low • Nov 10New 90-day high: NT$119The company is up 14% from its price of NT$104 on 12 August 2020. The Taiwanese market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is NT$363 per share.